Investing in cryptocurrencies such as Bitcoin and Ethereum with a FAB (First Abu Dhabi Bank) account is now easier than ever when you go through a cryptocurrency exchange.
We recommend using eToro, it is a secure licensed cryptocurrency exchange that supports multiple asset classes. You can invest your AED in cryptocurrencies, stocks, commodities and much more.
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Can I buy Bitcoin on First Abu Dhabi Bank?
If you are looking to buy Bitcoin and other cryptocurrencies directly on the First Abu Dhabi banking platform, you are out of luck. However, you can deposit funds from your FAB bank onto a cryptocurrency exchange and purchase tokens on that platform.
eToro is a regulated and licensed cryptocurrency exchange based in Israel and has been around since 2007. Making it one of the oldest cryptocurrency investing platforms in the world. In addition to cryptocurrency, you can invest in stocks, commodities, fiat currencies, ETFs, indices and much more.
How to buy Bitcoin and Crypto with First Abu Dhabi Bank (FAB)
eToro only supports the following currencies USD, GBP, AUD & EUR. You can send AED from your FAB account, but when it arrives in your eToro account it will be auto-converted into USD. You will be charged a small conversion fee that will be auto deducted from the total amount. Follow the below steps to get started.
Step One: Sign up to eToro, verify your identity and complete the online form
Step Two: Select ‘Deposit Funds’ and choose Bank Transfer as payment method and enter the amount of USD you wish to deposit
Step Three: You will be redirected to their banking details page, simply copy their details into your First Abu Dhabi banking app and send the desired amount to their bank. Bank transfers may take approximately 4-7 business days to be processed from the time of transfer.
Step Four: Once your funds have arrived into your eToro account, visit the home page and search for the cryptocurrency you wish to purchase and select ‘Trade’
About First Abu Dhabi Bank
First Abu Dhabi Bank (FAB) is a leading bank in the United Arab Emirates (UAE). The bank was formed through the merger of National Bank of Abu Dhabi and First Gulf Bank in 2017. FAB provides a full range of banking services including retail, corporate, investment banking, treasury, and private banking. The bank has a strong presence in the UAE with over 120 branches and more than 1,600 ATMs. FAB also has a significant international network with over 60 branches and representative offices across Africa, Asia, Europe, and the Americas.
First Abu Dhabi Bank is one of the largest banks in the UAE with assets of over AED 700 billion (US$ 190 billion). The bank has a strong customer base of over 4 million customers and is one of the leading banks in the UAE in terms of profitability and capital ratios. FAB was ranked as the 8th largest bank in the world by The Banker magazine in 2018.
The First Abu Dhabi Bank group includes National Bank of Abu Dhabi, First Gulf Bank, and First Abu Dhabi Investment Company. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and has a market capitalization of over AED 100 billion (US$ 27 billion).