How to Buy Crypto with Mashreq Bank

Can I Buy Bitcoin with Mashreq Bank?

Yes, Mashreq Bank clients can purchase Bitcoin through digital asset exchanges in the UAE. The bank supports fund transfers to crypto investment platforms regulated by the ADGM, making it simple for investors to deposit United Arab Emirates Dirhams (AED) through bank transfers and debit cards. This process enables customers to easily start investing in digital currencies.

‍

How to Buy Crypto with Mashreq Bank

‍Mashreq Bank clients can invest in digital currencies through regulated exchanges like Rain, which is regulated by the ADGM under registration number 6561104. Rain offers access to 50 cryptocurrencies, allowing users to buy and trade Bitcoin, Ethereum and other assets with low fees. Users can deposit AED using various methods, including bank transfers, credit cards, and debit cards.

To begin trading on Rain with your Mashreq Bank account, follow this simple guide:

1. Account Creation: Register with Rain and complete the verification process.
2. Deposit Funds: Go to the deposit section, select 'AED' as your currency and transfer funds from Mashreq Bank.
3. Find Crypto: Once your account is funded, use the interface to select your desired asset (e.g., Bitcoin).‍
4. Execute Trade: Enter the amount you wish to purchase in AED and complete your trade.

‍

What are the Fees?

For those who are new to cryptocurrency, understanding the fees associated with digital asset exchanges is essential for avoiding unforeseen costs. Most platforms charge trading fees, the spread (the difference between buy and sell prices), and fees for depositing or withdrawing funds.

Rain is an excellent option for Mashreq Bank clients. It offers zero trading fees but has spreads of around 0.2%, which is significantly lower than platforms like Coinbase, which charges approximately 2%. Additionally, Rain provides free AED deposit options through local payment methods.

‍

Is Mashreq Bank Crypto-Friendly? 

Yes, Mashreq Bank is a crypto-friendly institution that allows clients to invest in digital assets. The bank facilitates fund transfers to exchanges registered with the Abu Dhabi Global Market (ADGM), enabling users to invest in cryptocurrencies while complying with the regulatory standards set by the Financial Services Regulatory Authority (FSRA).

‍

About Mashreq Bank

Mashreq Bank, one of the leading financial institutions in the UAE, offers a wide range of banking services, including personal banking, corporate banking, and wealth management. It provides products such as the Mashreq Neo digital banking platform, the Mashreq Millionaire savings scheme, and the Mashreq Platinum Elite credit card. Established in 1967, Mashreq Bank continues to uphold its commitment to excellence and customer satisfaction.

‍

Bottom Line

In conclusion, Mashreq Bank offers a secure way for its clients to invest in digital assets like Bitcoin through approved exchanges regulated by the ADGM. With platforms like Rain providing free AED deposits and access to over 50 cryptocurrencies, Emirati investors can easily engage in cryptocurrency trading. Rain’s compliance with regulatory standards ensure a trustworthy environment for Mashreq customers.