How to Buy Crypto with Krungthai Bank

Can I Buy Bitcoin with Krungthai Bank?

Yes, Krungthai Bank allows its clients to buy digital assets utilizing Thai Baht (THB) through certified cryptocurrency exchanges in Thailand. To clarify, the bank doesn't directly facilitate the purchase or trading of tokens on its platform but approves transfers to licensed platforms. Finding one that complies with the relevant regulatory bodies in Thailand or comparable entities globally is essential for adhering to local financial laws.

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How to Buy Crypto with Krungthai Bank

The most secure way to purchase Bitcoin and other digital assets through Krungthai Bank is by using a secure exchange like Bybit. This platform enjoys international recognition and integrates seamlessly with Krungthai Bank accounts. Customers can fund their accounts with THB using a range of methods, including bank transfers, credit cards, and True Money.

Krungthai Bank customers can quickly begin crypto investing by following these four simple steps:

1. Account Creation: Register for an account on Bybit and finish the verification process.
2. Find Deposit Option: Navigate to ‘Buy Crypto’ and select one of the available deposit methods.
3. Select Assets: Pick ‘THB’ as your currency, choose a cryptocurrency, and select a payment option to transfer funds from Krungthai Bank.
4. Buy Crypto: Input the amount of THB you'd like to invest and click 'Buy.'

Krungthai Bank Cryptocurrency Policy

Krungthai Bank adopts a progressive stance regarding digital assets. Customers can explore cryptocurrencies through regulated exchanges overseen by the Thai Securities and Exchange Commission (SEC). Our recommended platform, Bybit, is registered in Thailand and provides transparent reserves, which shows all assets are backed on a 1:1 basis.

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Digital Asset Investing Fees

Understanding the costs associated with investing in cryptocurrencies is crucial for effective financial management, especially for customers of banks like Krungthai Bank. Here's an overview of the typical fees you will encounter on digital asset exchanges:

• Trading Fees: This is the cost of buying or selling a cryptocurrency and on most exchanges this fee is around 1%. Bybit charges 0.1% in trading fees, making it an appealing choice for investors conscious of expenses.
• Deposit Costs: The cost of depositing funds varies depending on the method used. Bybit stands out in this area by offering free bank transfers in Thai Baht (THB), aligning well with the preferences of Thai investors.
• Withdrawal Charges: The fees for withdrawing cryptocurrencies from the platform differ based on the digital currency transacted. 

For clients of Krungthai Bank involved in digital asset trading, Bybit's combination of low trading fees and complimentary THB deposits is advantageous. Additionally, its adherence to financial regulations and a broad selection of cryptocurrencies meet the diverse requirements of Thai investors.

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What is Krungthai Bank?

Krungthai Bank, also known as KTB, is a prominent state-owned bank in Thailand, founded in 1966 to provide comprehensive banking solutions for the Thai community. It is one of the largest banks in Thailand and has over 1,000 branches across the country, and employs more than 10,000 people. It also has an extensive ATM network with over 4,000 machines nationwide. 

Offering an extensive range of products and services, including personal and business banking, investments, insurance, and financial planning, KTB caters to a diverse clientele ranging from individuals to large corporations.  Its technological adoption ensures smooth digital banking experiences with features like mobile banking, internet banking, and a dedicated mobile application.

Final Thoughts

To sum up, although Krungthai Bank might not directly offer cryptocurrency services, it supports customers in exploring digital assets through reliable platforms. Our specialists have identified Bybit as the best choice for Thai investors due to its free THB deposits, Thai language support, competitive fees, broad spectrum of assets, intuitive interface, and diverse order types. Besides trading, it offers staking, lending and borrowing services, plus an NFT marketplace.