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How to Buy Crypto with Standard Bank

How to Buy Crypto with Standard Bank

Dylan Matthews
Dylan Matthews
Co-Founder
Fact Checked
March 13, 2023
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Summary: Standard Bank does not directly offer cryptocurrency trading through their online banking platform. This means that the best way to buy Bitcoin and other digital assets with a Standard Bank account is by depositing ZAR into a trusted South African exchange.

For users looking to get started quickly, we recommend the ByBit platform which offers low-fee ZAR deposits to trade hundreds of different cryptocurrencies from South Africa.

Table of Contents

Best Exchange for Standard Bank

Platform Highlights

  • Free ZAR deposits from Standard Bank via Credit/Debit Card, Bank Transfer, Google Pay & Maestro.
  • Buy, sell and trade 400+ Cryptocurrencies for low fees via Spot, Futures and Options trading.
  • Non-KYC exchange with audited proof-of-reserves that shows customer funds are always backed 1:1.
Bybit - Standard Bank
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Audited Proof of Reserves
Audited Proof of Reserves

Can I buy Crypto with Standard Bank?

Standard Bank does not currently offer any products that allow their customers to buy or sell Bitcoin and other cryptocurrencies. This means that the only way to buy Bitcoin with a Standard Bank account it to deposit ZAR into a licensed digital asset trading platform.


How to buy Crypto with Standard Bank online

The easiest way to buy cryptocurrencies from your Standard Bank account is through the Bybit trading platform. They offer fast and low fee ZAR transfers from Standard Bank accounts to trade hundreds of cryptocurrencies with up to 100x leverage.

You can follow the simple guide below to get started:

  1. Sign up to Bybit & confirm your identity and verification details.
  2. Visit the 'Buy Crypto' page and select 'ZAR' as your currency.
  3. Input the amount of ZAR you want to invest.
  4. Confirm your buy and follow the prompts to deposit ZAR.
buy crypto standard bank zar
Buying 0.99 ETH with 50,000 ZAR on Bybit.

Standard Bank Cryptocurrency Policy

As at time of writing, Standard Bank has no terms or conditions that bans their customers from trading Bitcoin or cryptocurrencies. This means that you can safely deposit and withdraw ZAR from licensed digital asset trading exchanges like Bybit.

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About Standard Bank

Standard Bank is a large South African bank with over 1,600 branches nationwide. They provide personal and business banking, corporate and investment banking, and wealth management services. Standard Bank is regulated by the South African Reserve Bank and has an online presence with a user-friendly website and mobile app. They offer 24/7 customer support via phone, email, and live chat, making them a reputable and trusted bank in South Africa.

Standard Bank Online.
Standard Bank Online.

Final Thoughts

Standard Bank does not offer any products or services that allow their customers to buy or sell Bitcoin and other cryptocurrencies. The only way to purchase digital assets with a Standard Bank account is by transferring ZAR into a licensed digital asset trading platform, such as Bybit. It’s also important to keep in mind that Standard Bank has no terms or conditions that ban their customers from trading Bitcoin or cryptocurrencies through trusted & regulated exchanges.

Post Tags

South Africa Banks
Centralized Exchanges
Markets

Dylan Matthews

Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.

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