Can You Buy Crypto with ADCB Bank?
ADCB Bank does not provide cryptocurrency trading or investment services through its online banking platform. However, customers can obtain digital assets by linking their ADCB account to a regulated cryptocurrency platform in the UAE. We recommend investors opt for platforms that are licensed by the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) and avoid off-shore exchanges which could result in banking complications.
How to Buy Bitcoin and Crypto with ADCB
The safest and most convenient way to invest in cryptocurrencies using your ADCB Bank account is through an ADGM-regulated exchange such as eToro. This approach enables investors to smoothly deposit AED from ADCB Bank via bank transfer, ADCB Card, debit card, credit card, and other supported methods.
Here is a simple 4-step guide to getting started with your ADCB account on eToro:
- Open a free account on eToro and complete the verification requirements.
- Select the 'Deposit Funds' button on the bottom left of your screen.
- Tap 'AED' and your payment method, then transfer AED from ADCB Bank.
- Complete the deposit and open the search bar to buy your desired token.
What are the Fees?
Trading digital assets can be costly depending on the exchange. After thoroughly analyzing the top trading platforms accessible to UAE investors, we discovered that eToro offers the most cost-effective solution with free deposits, zero fees, and a small spread (1%) when buying or selling a token. This is considerably lower than exchanges like Binance, which charge high fees for deposits.
Is ADCB Bank Crypto-Friendly?
ADCB Bank has displayed a favorable attitude towards cryptocurrency and has implemented several measures to facilitate customers in buying and selling digital assets. The bank has updated its policies to ensure that investors can safely deposit AED from their bank account or cards to platforms that hold regulator approvals from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM).
In conclusion, ADCB Bank customers in the UAE can confidently invest in cryptocurrencies by connecting their accounts to ADGM-regulated platforms like eToro. Although ADCB Bank doesn't directly offer crypto trading, its crypto-friendly approach allows for secure and efficient transactions. By choosing a licensed exchange with low fees, such as eToro, investors can access a diverse range of digital assets while enjoying a cost-effective trading experience.