How to Buy Crypto With Emirates Islamic Bank [2023] | Step-by-Step

Summary: Emirates Islamic Bank doesn’t offer investors the chance to buy cryptocurrencies on its own platform. Instead, Emirates Islamic customers can connect their banking accounts to a regulated crypto broker to purchase digital assets like Bitcoin (BTC) and Ethereum (ETH). 

In short, to buy crypto with Emirates Islamic, investors in the United Arab Emirates will need to sign up with a crypto-friendly exchange like eToro and deposit United Arab Emirates Dirham (AED) from their Emirates Islamic Bank account.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

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Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Can you buy crypto with Emirates Islamic Bank? 

You can buy crypto with Emirates Islamic Bank, but you need to connect to a licensed cryptocurrency exchange. As mentioned above, this is because Emirates Islamic does not offer cryptocurrency services directly through its online banking platform.

How to buy crypto with Emirates Islamic Bank?

The best way to buy Bitcoin (BTC) or any other cryptocurrency with Emirates Islamic Bank is through an Abu Dhabi Global Markets (ADGM)-regulated broker like eToro, which is a widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as “Copy Trading” (enables users to imitate top-performing crypto traders), a staking service, custom watchlist, as well as advanced charts and technical analysis tools. 

How to buy crypto with Emirates Islamic Bank online banking: Step-by-Step

You can get started in minutes with four simple steps:

• Step 1: Create an account on eToro and complete your verification (personal or company);
• Step 2: Enter the AED amount you want to deposit on the eToro platform;
• Step 3: Connect your Emirates Islamic online account to deposit your selected fiat currency;
• Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

Get Started

Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

About Emirates Islamic Bank

Emirates Islamic is an Islamic bank headquartered in Dubai, United Arab Emirates. Founded in 2004, it delivers banking services in line with Sharia principles. 

Services offered by Emirates Islamic include: 

• Personal banking: Checking and savings accounts, credit cards, loans;
• Business banking: Business banking accounts and cards. 

Emirates Islamic Bank’s crypto policy

Emirates Islamic has no policies prohibiting its users from buying and selling cryptocurrencies through licensed and regulated trading platforms. 

How to buy crypto safely

As a relatively new asset class, cryptocurrencies remain affected by extreme price volatility, making them much riskier than traditional financial instruments such as stocks or bonds. In addition, fraud and cybercrime in the crypto sphere are particularly rampant, putting both seasoned and inexperienced investors at risk.  

Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Let’s look at a few tips on what you should do when getting started with digital assets and how to best protect yourself and your money:

• Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are; 
• Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
• Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
• Secure your account: Use two-factor authentication and a strong password to protect your account;
• Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
• Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
• Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

FAQs about how to buy crypto with Emirates Islamic Bank: