Summary: Axis Bank does not directly offer clients in India the ability to buy or sell Bitcoin and other cryptocurrencies through the Axis Net Banking platform. Instead, customers will need to sign up for a regulated exchange that is approved by the Reserve Bank of India (RBI).
Based on our analysis of over 20 platforms, we found that Binance was the top pick for Axis Bank account holders in India. Their platform offers instant and cheap INR deposits to trade 300+ cryptocurrencies with low fees on their trusted & regulated exchange.
Best Exchange for Axis Bank
- Instant and free Indian Rupee (INR) and other currency deposits from Axis Bank.
- Trade 350+ crypto assets with low fees starting at 0.1% per trade.
- Largest and most trusted Cryptocurrency exchange in the world with 100 million users.
Can I Buy Crypto with Axis Bank?
Absolutely, Axis Bank allows its patrons to transfer Indian Rupees (INR), US Dollars (USD), and other forms of currency from their bank accounts to any cryptocurrency exchange operating in India that complies with the rules set by the Securities and Exchange Board of India (SEBI). However, it's crucial to highlight that Axis Bank isn't currently providing any tailored services or tools specifically intended for direct purchase or trading of cryptocurrencies via their internet banking platform.
How to Buy Buy Bitcoin and Crypto with Axis Bank
The optimal platform to purchase or trade cryptocurrencies using an Axis Bank account is Binance. Binance's system accepts deposits in Indian Rupee (INR) from Axis Bank via bank transfer, IMPS transfer, UPI transfer, debit card, or credit card. You can use these funds to trade any cryptocurrency listed on their exchange.
Here's a straightforward guide to help you get started:
- Sign Up: Register for an account on Binance and complete the verification process.
- Deposit Funds: Choose the currency you wish to deposit (INR) and the token you want to buy.
- Finalize Transfer: Deposit funds from Axis Bank via Bank Transfer or another available method.
- Buy Crypto: Click 'Buy', and the tokens will instantly appear in your account.
Axis Bank Cryptocurrency Policy
Yes, Axis Bank is supportive of cryptocurrency transactions. The bank gives its customers the liberty to transfer funds (in Indian Rupee) to sanctioned cryptocurrency exchanges for capital investment in this emerging asset category. Additionally, Axis Bank has expressed enthusiasm towards investigating potential opportunities to incorporate crypto-related services into its future provisions.
About Axis Bank
Axis Bank is one of the leading private sector banks in India. It was established in 1993 as UTI Bank (Unit Trust of India) and later renamed Axis Bank in 2007. The bank provides a wide range of banking and financial services to its customers, including retail banking, corporate banking, investment banking, credit cards, mortgage loans, and wealth management.
Axis Bank operates through a network of branches and ATMs across India, as well as through digital banking channels, making its services easily accessible to customers. It is regulated by the Reserve Bank of India (RBI) and is listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
In conclusion, Axis Bank indeed allows its customers to engage in cryptocurrency transactions by enabling the transfer of funds to sanctioned cryptocurrency exchanges, such as Binance. While the bank doesn't offer any specialized tools or services for direct crypto trading via its internet banking platform, it has shown interest in exploring opportunities in this arena.
By utilizing platforms like Binance, Axis Bank account holders can easily deposit funds and trade in a range of cryptocurrencies. As cryptocurrency continues to grow in popularity, Axis Bank's supportive stance ensures its customers can participate in this evolving asset class.
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.