How to Buy Crypto with VTB

Learn how to buy Bitcoin and cryptocurrency with VTB Bank. Understand fees, deposit methods and VTB's policy on licensed digital currency exchanges.

Bottom Line: Customers of VTB bank can use a wide range of regulated and licenses crypto platforms that support digital asset transactions. Nevertheless, the quality and trustworthiness of these platforms can vary significantly, making it crucial to select a platform that's legally registered and compliant in your area of residence.

After a comprehensive review of first-rate cryptocurrency investment platforms that accept VTB transactions, our research team has selected Bybit as the most optimal choice. Binance enables quick and zero-cost RUB deposits via VTB to trade a portfolio of over 770 cryptocurrencies, with remarkably low fees starting from 0.1% for spot trading and 0.02%/0.06% for maker and taker rebates in futures markets.

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Best For:
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Rating:
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Bybit stands out as the optimal platform for VTB transactions due to its low fees, user-friendly interface, diverse crypto portfolio, and multiple payment options for Russian Ruble (RUB) deposits.

Can I Buy Crypto with VTB Bank? 

VTB Bank doesn't specifically provide features for buying Bitcoin or other digital currencies through its internet banking platform. That said, it permits clients to move funds to licensed and regulated cryptocurrency trading platforms in Russia and abroad. Opting for an exchange that is supervised by the Bank of Russia or other international regulatory authorities is recommended to protect your assets.

How to Buy Crypto with VTB

The safest and most cost-effective way for Russian investors to acquire Bitcoin and digital currencies through a VTB Bank account is via the Bybit exchange. Bybit is one of the only global exchanges that offer multiple payment options for Russian Ruble (RUB) deposits, including Bank Transfer, Credit Card, Debit Card, and other local methods.

Here's a detailed guide on how to purchase crypto using your VTB Bank account:

  1. Sign up for a free Bybit account and go through the verification process.
  2. Click on 'Buy Crypto' and select a preferred payment method.
  3. Choose RUB as your currency and find the cryptocurrency you want to purchase.
  4. Input the investment amount and click 'Buy'.
Buy Crypto VTB

VTB Bank Cryptocurrency Policy 

VTB Bank recognizes the growing interest in digital currencies among its Russian and international clients. It allows transactions with licensed cryptocurrency exchanges overseen by the Bank of Russia or equivalent international regulatory organizations. This stance reflects VTB Bank's commitment to innovation and client-centered solutions, providing a safe pathway for those interested in the dynamic and continually changing world of digital currencies.

Deposit and Trading Fees 

If you're considering diving into the cryptocurrency market via VTB Bank, it's essential to have a comprehensive understanding of the potential costs involved. Here's a brief rundown of the typical fees that crypto investors may face when engaging with digital currencies using VTB Bank:

  • Deposit Fees: Unlike numerous cryptocurrency exchanges that provide free deposits, VTB Bank might levy certain transfer fees. Always confirm these charges within VTB Bank's terms of service.
  • Transaction Fees: A majority of cryptocurrency trading platforms typically apply a spread, a small percentage of each transaction. This spread relies on the cryptocurrency and the trading platform, often around 1%.

Remember that fees can differ across various services. We recommend investigating the most recent fee information with the cryptocurrency exchange you plan to use and VTB Bank.

The Bottom Line

In conclusion, VTB Bank allows its customers to participate in the burgeoning cryptocurrency market via regulated and licensed exchanges. Bybit stands out as the recommended exchange due to its low fees, ease of use, and diverse portfolio. Although VTB Bank does not directly facilitate crypto purchases, it supports transfers to licensed exchanges. 

As always, it is important for customers to consider the varying fees associated with their transactions and ensure they choose exchanges that are legally compliant in their area. Investing in cryptocurrencies through VTB Bank offers a safe and reliable gateway into the world of digital currencies, furthering VTB's commitment to customer-centric innovative solutions.

FAQs

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