Can you Buy Crypto with MUFG Bank?
Japanese investors can acquire digital currencies using MUFG Bank by sending money to a trusted cryptocurrency trading platform in Japan. Clients of MUFG can transfer Japanese Yen from their bank accounts or cards to a reliable crypto exchange where they can actively engage in purchasing, selling, and trading cryptocurrencies such as Bitcoin, Ethereum, Tether, and more.
How to Buy Crypto with MUFG Bank
The fastest and cheapest way for investors in Japan to buy cryptocurrency like Bitcoin is through the digital asset exchange, Bybit. MUFG users can deposit Japanese Yen with zero fees to the Bybit platform via Bank Transfer, Credit Card, Line Pay, Google Pay, PayPay and Maestro.
MUFG customers can start trading hundreds of cryptos with this guide:
- Create a free account on Bybit with your email address and pick a password.
- Click 'Buy Crypto', then 'One-Click Buy' and select 'JPY' as your currency.
- Pick a method and select the cryptocurrency you want to invest in.
- Input your purchase amount and tap 'Buy' to complete your transaction.
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Mitsubishi UFJ Financial Group Bank Cryptocurrency Policy
MUFG Bank provides an unrestricted avenue for its customers to transact with digital currency exchanges. The freedom to send and receive Japanese Yen (JPY) to and from such platforms is permitted, with the bank imposing no rules that obstruct these transactions. There are no recorded instances of the bank freezing customers' funds when they send money to cryptocurrency exchanges.
Deposit and Trading Fees
If you're pondering over venturing into the realm of cryptocurrencies via MUFG Bank, it's imperative to be conscious of potential related expenses:
- Deposit Fees: Unlike many crypto trading platforms that don't charge deposit fees, MUFG Bank may enforce transfer charges. It's advisable to verify these fees with your banking provider. Deposits conducted via MUFG Bank Credit Card could incur a fee, potentially exceeding 2%.
- Trading Fees: Most crypto trading websites levy a spread, signifying a percentage of every transaction. This spread fluctuates based on the specific cryptocurrency and the platform, typically around 1%.
It's vital to bear in mind that fees can vary across platforms. It's always prudent to meticulously examine the latest fee data with your chosen trading platform and MUFG Bank. This strategy will guarantee optimal benefit and effectiveness when delving into cryptocurrency trading.
The Bottom Line
To summarize, MUFG Bank customers cannot invest in cryptocurrencies through the bank but have the ability to transfer JPY to secure digital asset trading platforms. The best cryptocurrency exchange in Japan is Bybit, as it offers complete transparency in its assets, a diverse selection of cryptocurrencies, low trading fees, futures trading with up to 100x leverage, several staking options, and much more. To learn more about this platform, visit our detailed Bybit Review.
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