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How to buy Crypto or Bitcoin with ABSA Bank

How to buy Crypto or Bitcoin with ABSA Bank

Adrian Graham
Fact Checked
Aug 10, 2022

Summary: ABSA Bank does not directly support cryptocurrency buying and selling through their online banking platform for investors in South Africa.

The only way to buy Bitcoin with ABSA is by depositing ZAR from your account into a regulated exchange like Binance. You can deposit ZAR from your ABSA Online Banking account to your Binance account with a simple Bank Transfer.

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Platform Highlights

Can I buy Crypto or Bitcoin with ABSA Bank?

ABSA Bank does not currently support any native services for their customers to buy or sell Bitcoin and other cryptocurrencies through their platform. This means that ABSA Bank account holders will need to use digital currency exchanges to buy and sell cryptos.

To do this, you simply need to select a regulated exchange in South Africa to deposit ZAR into via bank transfer.


How to buy Crypto with ABSA Online

The best way to buy Cryptocurrencies with an ABSA Bank account is through Binance. Their platform is the largest and most trusted in the world and is safe to use in South Africa.

They accept bank transfers from ABSA Bank to buy over 500 different cryptos, and even stake them to earn rewards. You can follow this guide to get started:

  1. Sign up to Binance SA
  2. Verify your identity
  3. Select 'Buy Crypto' in the navigation menu and 'ZAR' as your currency
  4. Select the token you want to buy and execute your order
  5. Then follow the prompts to send you bank transfer via ABSA Bank
Buying ETH with ZAR on Binance
Buying 0.21 ETH with 10,000 ZAR on Binance

ABSA Bank Crypto Policy

ABSA does not currently have any policies that ban their customers from engaging in the digital asset ecosystem. It is important that investors in South Africa join regulated and licensed exchanges in their region. If you use off-shore exchanges, you may be at risk of getting your bank accounts frozen.

About ABSA Bank

ABSA Bank is one of the leading banks in South Africa and offers a wide range of banking services and products. The bank has a strong focus on providing excellent customer service and offers a number of convenient channels through which customers can access their accounts. These include online banking, mobile banking, telephone banking and ATM facilities. ABSA Bank also has a wide network of branches across South Africa.

ABSA Bank

ABSA Bank offers a wide range of personal banking products and services, including savings and investment accounts, credit cards, personal loans, home loans and more. The bank also provides a number of business banking products and services, including business loans, trade financing, merchant services and more.

ABSA is a subsidiary of the Absa Group Limited, one of the largest financial services groups in Africa. The group has operations in 12 countries across Africa and provides a range of banking, insurance, investment and other financial services to over 31 million customers.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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