Can you buy crypto (Bitcoin) from Shinhan Bank? Follow these steps!
More and more people in Korea are wondering if you can buy crypto at Shinhan Bank. By following the steps in this article, you can buy Bitcoin with your bank account at Shinhan Bank without any problems.
How to buy crypto at Shinhan Bank?
Step 1: sign up with a reliable crypto exchange
A crypto exchange allows private investors to trade Bitcoin and other crypto. Since you cannot buy crypto directly with your account at Shinhan bank, you need an account at one of the following crypto exchanges:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with “Shinhan after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: verify account & deposit money
Continue through the activation steps:
- Upload a copy of your passport
- Upload a copy of your address
- Answer the questions about your trading activities
After your account is verified, you can directly deposit funds from your Shinhan Bank account to your crypto account.
Step 3: buy crypto with Shinhan Bank
It can sometimes be difficult to select the right crypto: as there are thousands of altcoins to choose from these days. I invest mainly in Bitcoin & Ethereum, but if you don’t mind taking more risks, you can also select other altcoins. However, it very extra important to conduct your own research, as there are many crypto scams.
When you are sure which crypto you want to buy, you can place an order within the trading platform. Enter the amount you would like to invest and press the buy button. Keep in mind that it can take up to a few seconds for the order to be executed.
Do you want to sell the crypto position again in the future? No problem! Place a sell order, and you can then have the money transferred directly to your bank account at Shinhan Bank.
What is Shinhan Bank’s stance on crypto?
Shinhan Bank has an open crypto policy, as reflected here. In fact, the bank itself is developing new techniques that operate on the blockchain. Therefore, you should not encounter any problems when making transactions with your Shinhan bank account on popular crypto exchanges.
About Shinhan Bank
Shinhan Bank is Korea’s first bank: in fact, the bank was founded back in 1897 under the name Hangseong Bank. However, the bank has only been known as Shinhan Bank since 2006. You will find Shinhan Bank’s headquarters in Seoul and the bank operates worldwide.
Can you buy Bitcoin from Shinhan Bank?
Unfortunately, you cannot buy Bitcoin or other crypto directly from Shinhan Bank. However, the bank is positive about the blockchain, and you can therefore link your bank account to a crypto exchange without any difficulties. At the top of this article, you can read how to buy Bitcoin and other crypto with Shinhan Bank.
Over Alex Mostert
Already in 2015 I bought my first Bitcoins for roughly $300, only to sell them shortly after for $900. At the time I thought I benefited from the deal of the century, but I, of course, had no idea Bitcoin would become as popular as it is today. On this website, I want to teach everybody how to buy Bitcoin through their bank.