Summary: Monobank is taking significant strides in introducing its clientele to the evolving digital currency sector. The bank establishes partnerships with reputable cryptocurrency exchanges in Ukraine, streamlining the process for clients to deposit funds seamlessly. This initiative allows Monobank customers to smoothly transfer funds to these platforms, participating in cryptocurrency trading while adhering to the guidelines of the Ukrainian financial regulations.
For those banking with Monobank, Bybit emerges as the preferred choice. Bybit facilitates swift and complimentary UAH deposits, along with access to an expansive array of over 990 digital currencies. Its users can take advantage of sophisticated features such as demo accounts for practice, an NFT marketplace, and a range of order types, including spot, options, and derivatives trading with leverage options up to 25x. The platform’s interface, offered in both Ukrainian and English, further enhances its appeal.
- Instant Ukrainian Hryvnia (UAH) deposits from Monobank via Bank Transfer, Debit Card or Credit Card.
- Buy, sell and trade 990+ cryptocurrencies for low fees via Spot and Futures trading.
- Regulated and trusted exchange with over 18 million users.
Can I Buy Bitcoin with Monobank?
Absolutely, Monobank customers have the opportunity to engage in cryptocurrency by linking with recognized digital asset trading platforms in Ukraine. Upon transferring their funds, clients can easily purchase Bitcoin, along with exploring a variety of other digital currencies such as Ethereum, Litecoin, Cardano, and others. It’s crucial for Monobank users to select exchanges that adhere to Ukrainian financial laws, ensuring a dependable and seamless trading journey.
How to Buy Crypto with Monobank
Monobank clients can effortlessly enter the digital currency world through exchanges that are compliant with Ukrainian financial regulations. Our top pick for this purpose is Bybit, renowned for its adherence to Ukrainian financial guidelines, robust security measures, and transparent operations. It has a wide variety of over 990 crypto assets and offers diverse payment methods, including bank transfers, PayPal, and credit or debit cards.
To kickstart your cryptocurrency investment, here’s what you need to do:
- Register: Create an account on Bybit and go through the required verification steps.
- Select Payment Method: In the ‘Buy Crypto’ area, pick a deposit method that aligns with Monobank.
- Choose Currency: Opt for ‘UAH’ for quick and effective transactions.
- Complete the Transaction: Explore the range of tokens available, make your investment choice, and finalize by clicking ‘Buy.’
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Monobank Cryptocurrency Policy
Monobank is actively participating in the digital asset evolution, offering its clients straightforward access to cryptocurrency investments. This is facilitated through collaborations with platforms that comply with the National Bank of Ukraine's financial regulatory standards. After careful evaluation, our specialists recommend Bybit for a reliable trading experience. This exchange aligns with Ukrainian financial regulations, providing strong security and safeguarding for all participants.
Digital Asset Investing Fees
Understanding the fees associated with digital asset investing is key to maximizing your trading strategy. Here’s an overview of the typical expenses you’ll find on many cryptocurrency exchanges:
- Deposit Charges: The cost of depositing funds into your account varies depending on the payment method. Standard bank transfers generally incur lower fees compared to immediate options like debit cards, which can cost up to 2%.
- Transaction Fees: The cost of placing buy or sell orders on various cryptocurrencies differs among platforms. Exchanges such as Bybit are preferred for their affordability, typically charging around 0.1% per trade.
- Withdrawal Fees: These are dependent on the particular cryptocurrency. For instance, Bitcoin withdrawals often incur a charge of about 0.0005 BTC, though this can vary with other digital currencies.
Bybit stands out as an ideal option for Monobank customers, offering a dependable and affordable platform. Its competitive fee structure makes it attractive to investors across all experience levels, providing a significant edge in the vibrant realm of digital asset investing.
What is Monobank?
Monobank is a pioneering digital bank based in Ukraine, renowned for its innovative approach to banking through a mobile-first strategy. Established with the goal of revolutionizing the traditional banking experience, it offers a range of financial services, including personal accounts, instant money transfers, and innovative credit solutions, all accessible via a user-friendly mobile application. It was co-founded by Dmytro Dubilet, a former CIO of PrivatBank, another prominent Ukrainian bank.
The bank stands out for its emphasis on customer convenience and tech-driven solutions, employing advanced technologies to ensure secure, fast, and efficient banking operations. Its commitment to digital innovation and customer-centric services has positioned Monobank as a notable player in the fintech sector, appealing to tech-savvy consumers seeking a seamless banking experience.
Final Thoughts
In summary, while Monobank doesn't offer direct investment services, it enables users to interact with the digital currency market via licensed exchanges like Bybit. This partnership allows Monobank customers to safely and efficiently invest in an extensive array of digital assets, thereby supporting the increasing demand for crypto investments. We recommend Bybit for its wide range of local payment methods and diverse selection of digital assets.
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.
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