Summary: ADCB Bank customers interested in digital assets should utilize an approved crypto investment platform to buy and trade coins like Bitcoin and Ethereum. The bank endorses transfers to platforms accredited by the Abu Dhabi Global Market (ADGM) or other local regulatory bodies.
After a thorough review of the leading options in the Middle East, we have identified that eToro stands out for ADCB Bank clients. It offers efficient AED transactions, which can subsequently be used to trade over 3,000 cryptocurrencies, stocks, commodities, indices, forex, and ETFs. Moreover, eToro is overseen by the ADGM, ensuring a secure trading experience.
- They have received an In-Principle Approval to operate as a crypto broker in Abu Dhabi.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Instant AED deposits from ADCB Bank via bank transfer, and debit or credit card.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Can I Buy Bitcoin with ADCB Bank?
Yes, ADCB Bank permits its clients to move funds from their bank accounts to certified cryptocurrency trading platforms in the UAE. After transferring your money, you can exchange it for Bitcoin or other digital currencies. For a trustworthy and clear investment journey, we suggest choosing a platform supervised by the Abu Dhabi Global Market (ADGM) to guarantee adherence to local regulations and the security of your assets.
How to Buy Crypto with ADCB Bank
The most direct method for ADCB Bank clients to acquire cryptocurrency is through a platform recognized by the ADGM. Our specialists identify eToro as the number one choice due to its commitment to regulatory standards, extensive asset offerings, simple UI, and competitive fee setup. It facilitates AED deposits through multiple payment methods like bank transfers, credit cards, Skrill, and PayPal.
Here's a roadmap for clients to effortlessly start trading digital currencies:
- Create Account: Begin by establishing an eToro account and completing the identity verification procedures.
- Choose Currency: When selecting "Deposit Funds"and pick "AED" as your chosen currency.
- Transfer Funds: Initiate the fund movement from your ADCB Bank account or card.
- Buy Crypto: Find the desired digital currency using the search function, select it, and finalize your acquisition.
ADCB Bank Cryptocurrency Policy
ADCB maintains a constructive perspective on cryptocurrencies, emphasizing strict compliance with relevant regulatory directives. It enables its clients to explore digital assets through trustworthy platforms that have received the approval of relevant regulatory bodies in the UAE. Our recommended exchange, eToro, is endorsed by the Abu Dhabi Global Market (ADGM). Its central office is ideally situated in the heart of Abu Dhabi's financial district.
Digital Asset Investing Fees
For those delving into digital assets with ADCB Bank, understanding the related fee structures is crucial to optimize investment returns. Here's a quick overview of the main costs you might encounter on an exchange:
- Trading Costs: These are fees associated with the buying and selling of cryptocurrencies. On eToro, spreads generally remain around 1% or less.
- Deposit Fees: There might be costs when depositing funds, contingent on the chosen method. Direct bank transfers from ADCB Bank typically don't carry fees, but transactions via credit and debit cards might have fees of over 2%.
- Withdrawal Fees: The charges for withdrawing funds vary depending on the cryptocurrency. For instance, Bitcoin transactions carry a fixed fee of 0.0005 BTC.
Compared to other market platforms like Coinbase, which can charge as much as 5% on transactions, eToro's competitive rates make it a preferred option for ADCB Bank account holders.
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.
To sum up, ADCB Bank advocates for a secure approach to digital assets, emphasizing platforms like eToro for its customers. eToro, endorsed by the Abu Dhabi Global Market (ADGM), stands out with its user-friendly interface, diverse asset offerings, and transparent fee structure. The platform supports AED transactions and offers a range of payment methods, from bank transfers to digital wallets.