Summary: VTB Bank currently does not provide direct cryptocurrency investment options on its online banking platform. However, customers can still transfer funds from their VTB Bank account to approved crypto exchanges that accept deposits from Russian banks.
We suggest considering the Binance exchange, which is among the few well-known trading platforms that welcome Russian bank accounts and users. The Binance platform features over 350 cryptocurrencies and competitive fees for spot market trading, futures market trading, crypto options, and fast RUB deposits from VTB Bank.
Best Exchange for VTB Bank
- Instant and free Russian Ruble (RUB) and other currency deposits from VTB Bank.
- Trade 350+ crypto assets with low fees starting at 0.1% per trade.
- Largest and most trusted Cryptocurrency exchange in the world with 100 million users.
How to Buy Crypto with VTB Bank
As previously mentioned, the ideal exchange for investing or trading Bitcoin and cryptocurrencies with a VTB Bank account is Binance. Their platform lets you deposit Russian Ruble (RUB) from VTB Bank through bank transfer, debit card, or credit card to trade any asset available on the exchange.
Follow this straightforward guide to getting started in just a few minutes:
- Sign Up: Register for an account on Binance and complete the verification process.
- Deposit Funds: Choose Express Transfer, the fiat currency you wish to deposit, and the token you want to purchase.
- Finalize Transfer: Deposit funds from VTB Bank via Bank Transfer or another available method on Binance.
- Buy Crypto: Click 'Buy', and the tokens will instantly appear in your account.
What are the Fees?
Fees for purchasing cryptocurrencies with VTB Bank depend on the chosen crypto broker or exchange, as the bank itself does not directly offer cryptocurrency trading services. The recommended exchange, Binance, provides fast and affordable RUB deposits from VTB Bank, along with competitive trading fees. However, other exchanges or brokers may have different fee structures for deposits, trades, and withdrawals. It is essential to examine the fees and terms of each platform before making any transactions.
Is VTB Bank Crypto-Friendly?
Yes, VTB Bank is crypto-friendly. The bank has permitted customers to withdraw funds (Russian Ruble) to authorized cryptocurrency exchanges for investment in the asset class. Moreover, VTB Bank has expressed interest in exploring opportunities to incorporate crypto-related services into its offerings in the future.
About VTB Bank
VTB Bank, or Vneshtorgbank, is one of the leading universal banks in Russia. Established in 1990, it is headquartered in Moscow and is the core company of VTB Group, a vast financial conglomerate with a presence in various sectors, including retail banking, corporate banking, and investment banking.
VTB offers a comprehensive range of financial products and services to individual and corporate clients. Its offerings include savings accounts, loans, mortgages, credit cards, investment services, and more. The bank has a strong presence not only in Russia but also in other CIS countries, Europe, Asia, and Africa, making it a significant player in the global financial market.
In conclusion, while VTB Bank does not directly offer cryptocurrency investment options, it supports transfers to reputable crypto exchanges like Binance. Binance is an ideal platform for VTB Bank customers, featuring various cryptocurrencies, competitive fees, and user-friendly processes. To get started, sign up, deposit funds, and begin trading. Keep in mind that fees may vary across platforms, so always review the terms before making transactions.
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.