Summary: Halyk Bank does not provide any specialized services enabling customers to directly buy or sell Bitcoin or other digital currencies through its online banking platform. Rather, customers need to transfer KZT or USD from their Halyk Bank accounts to a regulated and approved cryptocurrency exchange.
Our suggested platform for investors in Kazakhstan is Binance. This platform is globally recognized, offering trading options for over 350 digital assets with competitive trading and deposit fees. Binance operates in numerous countries and boasts a substantial user base of millions worldwide.
- Instant and Free Kazakhstani Tenge (KZT) deposits from Halyk Bank.
- Trade 350+ crypto assets with low fees starting at 0.1% per trade.
- Largest and most trusted exchange in the world with 100 million users.
Can I Buy Bitcoin with Halyk Bank?
Yes, Halyk Bank allows its customers transfer Kazakhstani Tenge (KZT) and other currencies, from their bank accounts to any cryptocurrency platform in Kazakhstan and regulated by the Astana Financial Services Authority (AIFC) in Central Asia. However, it's crucial to highlight that Halyk Bank, at present, doesn't directly offer products or services that enable customers to buy digital assets directly through its online banking platform.
How to Buy Bitcoin and Crypto with Halyk
Your ideal choice for buying or trading cryptocurrencies using a Halyk Bank account is Binance. Binance's platform accepts Kazakhstani Tenge (KZT) deposits from Halyk Bank via bank transfer, debit card, or credit card. These funds can then be used to trade any cryptocurrency featured on their platform.
Here's a simple guide to walk you through the process:
- Sign Up: Create an account on Binance and finalize your verification.
- Deposit Funds: Choose the currency you want to deposit (KZT) and the crypto asset you want to buy.
- Complete Transfer: Deposit your funds from Halyk Bank using Bank Transfer or another appropriate method provided.
- Acquire Crypto: Click on the 'Buy' button, and the tokens will instantly appear in your account.
Halyk Bank Cryptocurrency Policy
Halyk Bank's stance towards digital asset trading is not explicitly stated. However, the National Bank of Kazakhstan (NBK) and AIFC have issued several advisories regarding the intrinsic risks involved in investing in cryptocurrencies. The NBK underscores that these digital currencies are not acknowledged as legal tender in Kazakhstan and don't fall under the jurisdiction or regulation of any governmental authority in the country.
Despite this, Halyk Bank allows customers to transfer funds to regulated and authorized trading platforms within the country. This suggests that you should not face any hurdles when depositing KZT into exchanges to buy, sell, and trade digital assets like Bitcoin, Ethereum, or USDT.
About Halyk
Halyk Bank, formally known as JSC Halyk Bank, is one of the largest and most significant commercial banks in Kazakhstan. It was established in 1923 and offers a wide range of financial and banking services, including retail, corporate, and investment banking, as well as insurance, leasing, and brokerage services.
The bank provides various products such as loans, deposits, payment cards, online banking services, and remittances, among others. Over the years, Halyk Bank has played a crucial role in the development of the banking system and financial infrastructure in Kazakhstan. It has a broad network of branches and ATMs across the country, catering to both individual consumers and corporate clients.
Bottom Line
In conclusion, while Halyk Bank does not directly offer services for purchasing cryptocurrencies, it facilitates fund transfers to cryptocurrency platforms, notably Binance, in Kazakhstan regulated by AIFC. You can utilize Halyk Bank to deposit Kazakhstani Tenge (KZT) onto these platforms and subsequently buy or trade digital assets.
Nevertheless, it's essential to bear in mind the advisories by the NBK and AIFC, highlighting the inherent risks associated with cryptocurrency investments. Regardless, Halyk Bank's allowance for such transactions suggests a smooth experience for those interested in the digital asset marketplace.
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.
