Summary: The only way to buy Bitcoin with a Capitec Bank account is by despositing fiat to centralized cryptocurrency exchange like Bybit.
They accept ZAR deposits from Capitec Bank debit cards, credit cards and more.
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Can I buy Crypto or Bitcoin with Capitec Bank?
Capitec Bank does not yet offer any services for their clients to buy Bitcoin and other cryptocurrencies through their internet banking platform.
With that said, Capitec Bank does have friendly policies toward cryptocurrencies. This means that customers can sign up to licensed digital asset trading platforms and deposit South African Rand (ZAR) directly from their Capitec Bank account.
How to buy Crypto with Capitec Bank online
The easiest way to buy cryptocurrencies with Capitec Bank from South Africa is through the Binance exchange. They offer easy and safe onboarding for residents of South Africa and cheap ZAR deposits.
Follow the guide below to get started.
- Create Account: Sign up to Bybit as a South African resident.
- Verify: Complete your personal or company identity verification.
- Deposit ZAR: Visit the ‘Buy Crypto’ tab and select ‘ZAR’ to deposit funds via Bank Account or an alternative method.
- Find Crypto: Find the cryptocurrency you want to buy on the platform.
- Execute your trade: Input the ZAR amount and execute your trade.
Is Capitec Bank Crypto Friendly?
Yes, Capitec Bank is a crypto friendly financial institution in South Africa. They do not have any internal banking policies that prohibits their customers and clients from trading and holding digital assets. Further, there has been no mandate from the South African Central Bank to place any banking bans on cryptocurrency investors and traders.
About Capitec Bank
Capitec Bank is a South African retail bank. It was established in 2001 and offers its clients banking products and services through a network of over 850 branches nationwide. As South Africa's second-largest retail bank, Capitec Bank has over 12 million clients and employs more than 9 000 people. The bank is headquartered in Stellenbosch, Western Cape.
Capitec Bank offers a range of banking products and services, including savings accounts, credit cards, loans, and insurance. The bank also has a mobile app and an online platform that allow clients to manage their accounts and make transactions.
They were named the Best Retail Bank in South Africa for the sixth consecutive year in 2020. The bank has also been awarded the Reader's Digest Trusted Brand Platinum Award for the past three years. Capitec bank is committed to financial inclusion and offers banking products and services that are accessible to all South Africans. The bank has a low-cost banking model that makes it possible for clients to save money and access credit.
Capitec Bank is regulated by the South African Reserve Bank and is a responsible lender and promotes responsible borrowing. The bank has a National Credit Regulator-approved credit policy.