How to Buy Crypto with Mashreq Bank

Summary: Mashreq Bank allows its clients to invest in Bitcoin, Ethereum, and other digital assets, even though it does not offer direct cryptocurrency trading services. Account holders can easily transfer Emirati Dirhams (AED) to certified third-party exchanges.

For those looking for a regulated platform, Rain is a recommended platform licensed by the ADGM. Catering to clients using Dubai-based banks, Rain facilitates AED deposits via bank transfers and cards, providing substantial liquidity in over 50 crypto assets with zero fees and low spreads.

Can I Buy Crypto with Mashreq Bank?

Yes, Mashreq Bank and Mashreq Neo clients can invest in cryptocurrencies like Bitcoin, Ethereum, Solana, and Tether (USDT). Although Mashreq Bank doesn’t directly facilitate cryptocurrency transactions, customers can securely connect their accounts with licensed UAE crypto exchanges, particularly those regulated by ADGM. Investors should use platforms that allow AED deposits via bank transfer or debit cards for convenience.

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How to Buy Crypto with Mashreq Bank

For Mashreq account holders interested in investing in Bitcoin and other cryptocurrencies, choosing a licensed and secure platform is essential. Rain stands out as a top choice within the UAE, fully licensed by the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA). Known for its robust liquidity across over 30 crypto assets, Rain is a preferred exchange in Dubai.

To begin trading on Rain with your Mashreq Bank account, follow this simple guide:

1. Account Creation: Register at Rain and complete the identity verification to secure your account.
2. Deposit Funds: Go to the deposit section, select 'AED' as your currency, and opt for a bank transfer or card transfer to quickly deposit AED.
3. Search for Crypto: Once your account is funded, use Rain’s straightforward interface to select your desired asset (e.g., Bitcoin).
4. Execute Trade: Enter the amount you wish to purchase in AED and complete your trade.

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What are the Fees?

For Mashreq Bank customers exploring the cryptocurrency market, it's important to comprehend the fees involved. These usually include transaction costs, spread (the difference between the buy and sell prices), and any fees for deposits and withdrawals.

Rain is an excellent choice for Mashreq Bank and Mahsreq Neo clients venturing into cryptocurrencies. Notably, it offers zero commission fees and low spreads, averaging just 0.2% per trade. This makes Rain a more affordable option for traders, especially when compared to platforms like Coinbase which often have charges exceeding 2%.

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Is Mashreq Bank Crypto-Friendly? 

Yes, Mashreq Bank facilitates its customers' cryptocurrency investments by supporting transactions with exchanges regulated by the Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA) and other respected global regulators. This framework ensures secure and swift AED transfers from Mashreq accounts to exchanges maintaining high regulatory standards, minimizing risks like fraud and money laundering.

Investors engaging with FSRA-regulated exchanges can confidently pursue digital assets, benefiting from stringent security measures and robust regulatory compliance. This secure and regulated environment is crucial for those initiating their journey into crypto investments.

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Bottom Line

In conclusion, Mashreq Bank provides a secure gateway for its clients to engage in cryptocurrency investments through partnerships with licensed exchanges like Rain, fully regulated by the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA). By choosing platforms that facilitate direct AED transactions and offer competitive fees, Mashreq Bank customers can confidently navigate the crypto market.