Summary: While VTB Bank does not provide direct digital asset trading within its online banking system, its customers can easily link their accounts with external cryptocurrency exchanges that accept deposits in Russian Rubles (RUB). It's vital to choose a trading platform that adheres to the guidelines set by the Central Bank of Russia or other relevant financial authorities to guarantee regulatory compliance within the country.
We recommend Bybit for fast and secure crypto investments, as it offers free and instant RUB deposits for VTB Bank account holders. Bybit is a globally recognized exchange, boasting over 20 million users from 160 countries, including Russia. In addition, it features a multilingual interface available in Russian and supports trading and staking of more than 1000 different tokens.
- Free Russian Rubles (RUB) deposits from any Russian bank, debit or credit card.
- Buy 940+ cryptocurrencies with low fees (0.1%) through spot and futures trading.
- Regulated and trusted exchange with over 18 million users worldwide.
Can I Buy Bitcoin with VTB Bank?
Yes, VTB Bank enables its customers to explore the growing digital asset market. They can effortlessly transfer funds to Russian cryptocurrency exchanges and invest in popular tokens like Bitcoin, Ethereum, and Tether (USDT). While the bank does not directly enable the purchase of coins, it authorizes transactions to secure platforms, acting as the intermediary. We advise using a licensed exchange within the jurisdiction of Russia for additional protection and regulatory compliance.
How to Buy Crypto with VTB Bank
VTB Bank clients can purchase and trade various digital currencies through reliable exchanges while adhering to strict regulatory standards. The top choice for Russian investors seeking portfolio diversification is Bybit, a seamless platform with a broad selection of assets and over 1000 cryptocurrencies. It ensures a smooth deposit process in RUB and EUR, supporting multiple payment options like credit cards, direct bank transfers, PayPal, Payeer, Advcash, and others.
If you are a crypto beginner, here's a simple guide with four quick steps to get you started:
- Register an Account: Sign up on Bybit and complete the required identity verification.
- Select a Payment Method: Go to the ‘Buy Crypto’ section and choose one of the available payment methods.
- Choose Deposit Currency: Select ‘RUB’ or ‘EUR’ as your deposit currency and pick a payment method.
- Make the Purchase: Browse the available coins on the platform, enter an investment amount, and click ‘Buy.’
VTB Bank Cryptocurrency Policy
VTB Bank adopts a progressive stance on cryptocurrencies, strictly adhering to relevant regulatory frameworks. It empowers its customers to explore the realm of digital assets by allowing transfers to external trading platforms authorized by the Central Bank of Russia. Bybit is our top recommendation for its users since it conforms with international financial laws, offering a safe and transparent investment environment. In addition, Bybit users benefit from its fast matching engine and instant trade execution.
Digital Asset Investing Fees
If you are willing to enter the digital asset investment world, it would help to understand the different fees you might encounter on these exchanges. This way, you’ll be able to make more informed decisions on your crypto journey. Here’s an overview of the typical expenses:
- Deposit Costs: The charge for adding money to your account usually depends on the payment method you use. For example, while direct bank and SEPA transfers are usually free, using credit or debit cards might incur fees above 2%.
- Trading Commission: Each time you buy or sell a crypto asset, you need to pay a fee. Fortunately, on platforms like Bybit, these charges are often minimal, generally around 0.1% or less.
- Withdrawal Expenses: This cost varies based on the digital currency in question. Many platforms have a fixed charge for each withdrawal, like 0.0005 BTC for Bitcoin.
Other exchanges, including Coinbase, can cost up to 5%. On the other hand, Bybit is a more efficient alternative than its rivals. It maintains competitive rates and offers complimentary deposits in RUB and EUR, which is very advantageous for VTB Bank customers who trade frequently.
What is VTB Bank?
VTB Bank is a major Russian financial institution established in 1990. Since then, it has evolved into a universal bank with a broad domestic and international presence. VTB now offers a comprehensive range of services, including retail, corporate, and investment banking, meeting the needs of its diverse client base of individuals, small businesses, and large corporations.
The bank has expanded its operations across several countries, making it a key player in the global market. However, it has also made significant contributions to the development of Russia's financial infrastructure. It’s recognized for its innovation in digital banking solutions and its strong commitment to sustainability and corporate responsibility. VTB continues to influence the banking landscape while prioritizing the needs of its customers and stakeholders.
Final Thoughts
In conclusion, VTB Bank facilitates connections between its clients and external crypto exchanges, ensuring secure and straightforward transactions for its customers. This approach reflects its commitment to innovation and customer service and adherence to rigorous regulatory standards. Bybit is the top choice for its users, mostly due to its fast processing, robust security, free RUB deposits, and low fees. More importantly, it’s available in Russian with live customer support in the language.
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.
