How to Buy Crypto with First Abu Dhabi Bank (FAB)

Can I Buy Bitcoin with FAB?

Yes, customers of First Abu Dhabi Bank can invest in Bitcoin through digital currency exchanges in the UAE. FAB supports fund transfers to crypto trading platforms that comply with ADGM regulations. Emirati investors can easily deposit United Arab Emirates Dirhams (AED) through bank transfers and debit cards, ensuring a straightforward registration process.

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How to Buy Crypto with First Abu Dhabi Bank

‍First Abu Dhabi Bank customers can invest in digital currencies through regulated exchanges. We recommend Rain as it is regulated by the ADGM under registration number 6561104. It offers access to a diverse selection of 50 cryptocurrencies for trading. FAB users can deposit AED using various methods, including bank transfers, credit cards, and debit cards.

Follow this guide to buy crypto with First Abu Dhabi Bank:

1. Account Creation: Sign up on Rain and complete the identity verification process.
2. Depositing Funds: Go to the deposit section, select 'AED' as your currency, and transfer funds to the platform.
3. Select Crypto: With funds in your account, use the interface to choose the cryptocurrency you're interested in (like Bitcoin).‍
4. Purchase: Specify the amount you wish to invest in the chosen cryptocurrency in AED and complete your purchase.

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What are the Fees?

FAB customers who are new to cryptocurrency must be aware of the fees associated with using digital asset exchanges. This includes transaction costs, the spread (the difference between buying and selling prices), and any charges for depositing or withdrawing funds.

Rain is an excellent option for First Abu Dhabi Bank customers, offering zero trading fees but spreads of around 0.2%. This is significantly lower compared to other platforms like Coinbase, which charges around 2%. Additionally, Rain provides free AED deposit options through bank transfers, debit cards and other methods.

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Is FAB Crypto-Friendly?

Yes, First Abu Dhabi Bank (FAB) is considered crypto-friendly and supports its customers' interest in digital currencies. The bank facilitates fund transfers to exchanges regulated by local authorities, allowing users to invest in cryptocurrencies while adhering to the Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA) regulatory standards.

For customers using locally regulated exchanges, there's an added layer of security. These platforms comply with stringent regulatory requirements, providing a trustworthy environment for those new to digital asset investing.

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About First Abu Dhabi Bank (FAB)

First Abu Dhabi Bank (FAB) is the UAE's largest bank, offering a wide range of financial services to individuals, businesses, and institutions. Notable products include the FAB Personal Loan, FAB Platinum Credit Card, and the FAB Islamic Savings Account. FAB focuses on customer satisfaction and security, providing reliable banking experiences. With a strong regional presence and a commitment to digital transformation, FAB leads in innovative banking solutions.

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Bottom Line

In conclusion, First Abu Dhabi Bank (FAB) offers an easy way for customers to invest in cryptocurrencies through regulated exchanges. With secure AED transfers and competitive fees, Rain supports digital currency investments while adhering to strict regulatory standards, making it a reliable choice for investors. It is regulated by the ADGM and is considered one of the most secure Middle Eastern platforms.