Summary: ADCB does not offer cryptocurrency investing services through its banking portal. The only option is for customers in the UAE to transfer funds from their accounts to a licensed digital asset exchange to buy and sell crypto. Using a trading platform licensed by the Abu Dhabi Global Markets (ADGM) is recommended for regulatory compliance in the United Arab Emirates.
Upon thorough evaluation of the top cryptocurrency exchanges available to Emirati investors, we found Bybit was the best option for ADCB Bank clients. Bybit provides zero-fee AED deposits to trade a broad range of more than 850 digital currencies at favorable market prices. The platform also offers staking, lending, and borrowing services on hundreds of assets.
- Free AED deposits from ADCB Bank via bank transfer, credit cards and more.
- Buy, sell and trade 850+ cryptocurrencies for low fees via spot and futures trading.
- Regulated and trusted exchange with over 18 million users in the Middle East.
Can I Buy Bitcoin with ADCB?
Absolutely, ADCB Bank permits its customers to transfer funds to credible cryptocurrency exchanges in the United Arab Emirates. After you've effectively sent your money, you're free to purchase Bitcoin or explore other types of digital currencies. It's important to note that ADCB Bank does not directly handle cryptocurrency transactions. For a smooth and secure investment journey, we advise opting for an exchange regulated by the Central Bank of the UAE.
How to Buy Crypto with ADCB
If you're an ADCB Bank customer interested in diving into the cryptocurrency market, you've come to the right place. Reputable platforms like Bybit provide a smooth and secure pathway for investing in digital assets. Bybit allows deposits in UAE Dirham (AED), giving you the flexibility to fund your account through multiple avenues, including bank transfers, debit cards, and credit cards.
Here's a comprehensive guide on how to buy cryptocurrency using your ADCB Bank account:
- Create an Account: The initial step is registering an account on Bybit. Make sure to complete all required verification procedures to enhance your account's security.
- Select Your Payment Method: Navigate to the 'Buy Crypto' section and choose the payment option that aligns with your preferences.
- Determine Your Currency: Decide which currency you'd like to use for your cryptocurrency investment, such as AED.
- Initiate Your Investment: Once you've chosen, select the specific cryptocurrency you want to invest in. Input the amount you're willing to invest and finalize the transaction to complete your purchase.
ADCB Cryptocurrency Policy
ADCB Bank adopts a prudent yet open stance towards cryptocurrency activities. The bank allows customers to engage with trading platforms that align with regulations established by authoritative institutions such as the Central Bank of the UAE and the Abu Dhabi Global Markets (ADGM). With a focus on customer security and legal compliance, ADCB Bank reserves the right to suspend transactions with platforms that could jeopardize the safety of our clients.
What is Abu Dhabi Commercial Bank?
ADCB, or Abu Dhabi Commercial Bank, is a prominent financial institution in the United Arab Emirates. It was established in 1985 as a public joint stock company, with official operations commencing the following year. It has become one of the largest banks in the UAE, boasting a substantial asset base of AED 400 billion and a customer base exceeding 1.6 million.
The services ADCB Bank provides include personal banking, business banking, wealth management, and corporate and investment banking. The majority ownership of ADCB lies with the Abu Dhabi government, facilitated through its investment entity, Abu Dhabi Investment Council (ADIC). Other notable stakeholders include Emirates NBD (ENBD), holding a 19.75% stake, and Al Hilal Bank, with a 5% stake.
Final Thoughts
To conclude, Abu Dhabi Commercial Bank does not facilitate direct cryptocurrency transactions, but it allows customers to transfer funds to licensed digital asset exchanges. Bybit is a top choice for ADCB customers, offering zero-fee deposits in AED and a wide array of more than 850 digital currencies to trade, stake, lend, or borrow. Bybit is an international exchange that can be used in multiple languages, including Arabic.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
