How to Buy Crypto with Kotak Mahindra
As mentioned above, the best way to buy Bitcoin, Ethereum and other cryptocurrencies with Kotak Mahindra is through the OKX platform. They offer cheap and fast INR deposits via Bank Transfer, UPI Transfer, Debit Card or Credit Card to buy, stake and trade over 300 of the most popular cryptocurrencies.
You can get started in 4 simple steps with our guide:
- Open a free account on OKX platform and complete the sign-up process.
- Go to the 'Buy Crypto' tab and select a deposit method to send funds from Kotak Mahindra.
- Select 'INR' as your fiat currency and pick a cryptocurrency you want to buy (e.g USDT).
- Input the amount of Thai Baht you want to invest and execute your trade.
Is Kotak Mahindra Crypto-Friendly?
Yes, Kotak Mahindra are a crypto-friendly bank because they allow customers to transfer funds to regulated cryptocurrency exchanges like OKX. This means that investors do not need to worry about their funds being frozen, or a deposit being blocked by their bank. Additionally, most banks in India are crypto-friendly and allow customers to fund their accounts with INR.
What are the fees to buy Cryptocurrencies?
The fees to buy cryptocurrency with Kotak Mahindra Bank will depend on the exchange you use. OKX charges a 0.1% fee when buying cryptocurrencies, as well as additional discounts for traders who hold their platform token (OKB). This makes them significantly cheaper than alternatives like WazirX or CoinSwitch Kuber which charge in excess of 1% per trade.
Kotak Mahindra Bank does not offer a direct service to buy cryptocurrencies. However, customers can still use their bank accounts to deposit INR at licensed cryptocurrency exchanges like OKX. This will allow them to safely trade hundreds of digital assets with low fees and quick settlement times.