Can I Buy Bitcoin with Axis Bank?

Yes, Axis Bank enables its customers to invest in cryptocurrencies such as Bitcoin and Ethereum by approving transfers to Indian cryptocurrency exchanges. Finding a platform that is regulated by the Reserve Bank of India (RBI) is essential for compliance. Clients can deposit INR through various payment methods, including local bank transfers and debit cards.

How to Buy Crypto with Axis Bank

Axis Bank customers can safely invest in cryptocurrencies through regulated exchanges. Bybit is the best platform, known for its global regulatory compliance and extensive range of over 1,200 digital assets for trading and staking. It offers free INR deposits through multiple payment methods, including bank transfers, credit cards, UPI, and mobile wallets.

To purchase crypto using Axis Bank on Bybit, follow these steps:

1. Create an Account: Visit the Bybit website and sign up for a new account.
2. Deposit Funds: Once your account is verified, go to the 'Buy Crypto' section. Choose your preferred deposit method and add funds in INR.
3. Select Asset: Choose the crypto you wish to purchase and ensure INR is set as your deposit currency.‍
4. Complete Trade: Enter the amount you want to invest, review the transaction details, and complete the trade.

What are the Fees?

It’s important to understand the fees associated with using cryptocurrency exchanges. These costs usually cover depositing and withdrawing funds plus trading assets. Trading fees can vary between 1% and 2%, depending on the platform.

For Axis Bank customers, Bybit offers a competitive fee structure with a fee of 0.1% for spot trading and a maker/taker rebate of 0.02%/0.06% for futures trading. Additionally, Bybit offers free deposits for transactions in Indian Rupees (INR) through bank or UPI transfers and debit cards.

Is Axis Bank Crypto-Friendly? 

Yes, Axis Bank is considered crypto-friendly as it enables customers to purchase digital assets through exchanges that comply with Indian regulations. The bank adheres to India's regulatory framework, ensuring compliance with the Reserve Bank of India (RBI).

In India, digital currency activities are subject to regulatory oversight, including strict Anti-Money Laundering (AML) standards. Axis Bank integrates these regulations into its operations, providing a secure environment for digital currency transactions. The bank also offers educational resources on digital assets to help inform its customers.

About Axis Bank

Axis Bank is one of India's leading private sector banks, known for its wide range of financial services and products. It offers savings and current accounts, loans, credit cards, and investment services. The most popular products include the Axis ASAP Instant Savings Account, Axis Burgundy Private for high-net-worth clients, and credit cards like Axis Bank Neo and Axis Bank Vistara.

Bottom Line

In conclusion, Axis Bank offers a crypto-friendly approach by facilitating INR transfers to regulated exchanges. Bybit is a recommended platform for Axis Bank customers, offering free INR deposits, competitive trading fees, and a wide selection of over 1,200 digital currencies. In addition to trading, users can stake, lend and borrow hundreds of assets on Bybit.