How to Buy Crypto With First Abu Dhabi Bank (FAB) [2023] | Step-by-Step

Summary: First Abu Dhabi Bank (FAB) doesn’t offer investors the chance to buy cryptocurrencies on its own platform. Instead, FAB 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 First Abu Dhabi, 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 FAB account.

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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 First Abu Dhabi Bank? 

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

How to buy crypto with First Abu Dhabi Bank?

The best way to buy Bitcoin or any other cryptocurrency with FAB 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 First Abu Dhabi 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 FAB 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 First Abu Dhabi Bank

First Abu Dhabi Bank (FAB) is the largest bank in the United Arab Emirates, headquartered in Abu Dhabi. The bank was established in 2017 through a merger between First Gulf Bank (FGB) and the National Bank of Abu Dhabi (NBAD) and offers a comprehensive selection of banking services, including personal, corporate, commercial, and investment banking.

First Abu Dhabi Bank’s crypto policy

First Abu Dhabi is a crypto-friendly bank with no policies prohibiting its users from buying and selling cryptocurrencies through licensed and regulated trading platforms. 

In fact, the bank announced in February 2023 plans to introduce digital asset offerings to its clients. Moreover, FAB plans to implement Web3 technologies in their services, with Srinivasan Sampath, chief technology officer at the bank, stating: 

“We’re getting ready to leverage Web3 along with digital assets. We’re at an advanced stage in terms of getting the approvals to initiate it. Initially, we’ll probably allow customers to use crypto to pay [for] or use some of our services.”

How to buy crypto safely

While crypto can be a lucrative investment with astronomically high returns, its volatile nature makes it considerably riskier than stocks. In fact, many people have been scared away from investing in any digital assets because of the high amount of scams and cybercrime that target inexperienced and seasoned investors alike. 

Thankfully though, licensed crypto brokers in the UAE are required to comply with the UAE anti-money laundering, anti-terrorism financing, cybersecurity, and data protection laws, as well as develop technology platforms that provide real-time information on ownership and trading. 

Lastly, to make sure you’re being careful when getting started with digital assets, apply these best practice guidelines to your investing strategy:

• 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 First Abu Dhabi Bank: