Summary: PrivatBank openly embraces the digital asset market by allowing users to interact with registered exchanges in the country. These collaborations allow its customers to seamlessly transfer Ukrainian hryvnia (UAH) to these platforms, offering them the opportunity to explore and invest in a diverse range of crypto assets. This initiative aligns with the guidelines of the National Bank of Ukraine and adheres to the country’s stringent financial regulations.
Our detailed analysis highlights Bybit as the most suitable exchange for PrivatBank clients. Bybit upholds all necessary financial standards set by Ukrainian authorities, facilitates rapid and free UAH deposits, and hosts over 1,000 tokens with minimal transaction fees. The platform further enriches the user experience with features like practice accounts, cryptocurrency loans, a comprehensive NFT marketplace, and various order types, including spot, futures, and margin trading.
- Instant and free UAH deposits from any Ukrainian bank, debit or credit card.
- Buy 1,000+ cryptocurrencies with low fees (0.1%) through spot and futures trading.
- Regulated and trusted exchange with over 20 million users worldwide.
Can I Buy Bitcoin with PrivatBank?
Yes, PrivatBank customers can easily invest in Bitcoin and other digital assets. The bank does not offer these services directly on its interface, but it approves UAH transfers to regulated cryptocurrency exchanges in Ukraine. This enables clients to transfer funds from their bank accounts to these platforms and converting their money for tokens like Ethereum or Tether. Selecting exchanges that comply with the National Bank of Ukraine's guidelines guarantees a safe and compliant investment experience.
How to Buy Crypto with PrivatBank
PrivatBank customers can safely invest in digital currencies through exchanges compliant with the National Bank of Ukraine. Bybit represents a top choice for this purpose due to its adherence to national financial rules, robust security measures, and extremely low fees. The platform supports a huge selection of over 1,000 cryptocurrencies and offers multiple payment methods, including bank transfers, PayPal, Advcash, GEOpay, and credit or debit cards.
You can follow these steps to start your digital asset trading journey:
- Register: Create an account on Bybit and go through the required identity verification process.
- Choose a Payment Method: Select a deposit option compatible with PrivatBank from the ‘Buy Crypto’ section.
- Select a Currency: Pick ‘UAH’ as the currency you want to deposit and select the token you want to purchase.
- Complete the Transaction: Set your investment amount and finalize your trade by clicking ‘Buy.’
PrivatBank Cryptocurrency Policy
PrivatBank is a progressive institution that provides its customers with streamlined access to the cryptocurrency market. This is achieved through partnerships with digital asset trading platforms that comply with the regulations set by the National Bank of Ukraine. Our experts strongly suggest using Bybit as it conforms to Ukrainian financial standards, assuring a high level of security and transparency for its users. Bybit is licensed for crypto exchange and custody services in Cyprus, further consolidating its standing in the European market.
Digital Asset Investing Fees
Understanding the fees linked to cryptocurrency investment is crucial for planning and maximizing your potential returns. Here's a breakdown of the common expenses you'll find on digital asset trading platforms:
- Funding Fees: When you deposit money into your account, the charges can vary based on the chosen payment method. Typically, SEPA transfers are less costly compared to quicker options like credit or debit cards.
- Buying/Selling Charges: The fees for trading digital currencies differ among exchanges. For example, Bybit is popular for its modest commissions, usually charging around 0.1% per trade.
- Withdrawal Expenses: The cost of withdrawing funds depends on the asset. In the case of Bitcoin, the standard fee is approximately 0.0005 BTC.
Bybit is the best option for PrivatBank customers as it provides free UAH deposits and significantly lower trading fees when compared to exchanges like Coinbase that charge upwards of 2%.
What is PrivatBank?
PrivatBank is a significant financial institution known for its innovative approach, established in the early 1990s in Ukraine. It has played a pivotal role in the development of the country's banking system, offering a wide range of services, including retail and corporate banking and online financial services.
The journey of PrivatBank has been marked by various challenges and milestones, including its nationalization in 2016. This move was aimed at enhancing its transparency and reliability, reflecting the government's commitment to stabilizing the industry. Despite challenges, the bank continues to be a key player in Ukraine's financial system, adapting to the dynamic needs of its customers and contributing significantly to the national banking sector evolution.
Final Thoughts
To conclude, PrivatBank guides its clients through the burgeoning realm of digital assets by establishing key partnerships with trusted cryptocurrency exchanges. Bybit is the preferred platform, distinguished by its free Ukrainian hryvnia deposits and an extensive selection of over 1,000 coins. As a bonus, it elevates the investment experience with advanced features like demo accounts, crypto loans, staking services, a crypto debit card and a diverse NFT 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.
