October 29, 2020

How to buy and sell cryptocurrency through Sberbank?

How to buy and sell cryptocurrency through Sberbank?

Sberbank of Russia is one of the largest banks in Russia and the CIS, whose services more than 95 million people from different sectors of the population use it. Among them there is a huge number of crypto enthusiasts who would like to buy and sell cryptocurrencies with the help of Sberbank.

On different exchange services or online walletsyou can make transfers using Sberbank, but, as a rule, the transaction amount is limited, a large commission is charged, and the account can be temporarily blocked.

Since the legal status of cryptocurrencies in Russia is notdefined so far, banks refuse to cooperate with various cryptocurrency companies, including exchanges. Quite often, accounts are blocked by customers who, in the opinion of banks, buy or sell digital assets.

A direct ban on such operations in Russiano, but the bank defines them as suspicious and after the formal verification procedure and communication with the client, the accounts are thawed. Does the bank act legally? Yes. The Anti-Money Laundering and the Financing of Terrorism Act, known as the AML and CTF rules.

Banks want transparency and regulation,since for each transaction they are responsible and accountable to the Central Bank. If the Central Bank suspects the bank of some kind of "gray" activity, they can simply revoke the license, which costs much more than the potential profit from cooperation with a dubious exchange service for the benefit of a couple of hundred thousand rubles a month. This applies not only to Sberbank, but also to other financial institutions.

But what about privacy, which is fundamentally embedded in cryptocurrencies?

Privacy is embedded in cryptocurrencies, not infiat money that you use daily hundreds of times more often than crypto. Banks and payment systems are under no obligation to help you go into the shadows, especially if this is contrary to their interests. And yes - they have the right to know where and why you spend money, because - AML and CTF.

To use freelycryptocurrencies and remain private daily, an appropriate infrastructure should be formed that can become an alternative to fiat money. In the meantime, close and transparent cooperation between the cryptocurrency industry and the traditional financial system is extremely necessary for both parties. First of all, this concerns the security issues of both you and the banks, and there is a very significant example in this regard:

In 2019, the U.S. Securities and Exchange Commission (SEC) returned approximately $ 1.2 billion to affected investors.

This is only possible with close cooperation.Regulators, financial institutions and cryptocurrency companies. Without such a collaboration of the two financial systems, having lost money, you will not return them.

What crypto companies cooperate with Sberbank?

At the moment - one. Currency.com regulated cryptocurrency exchange of tokenized assets, the license of which was issued in accordance with the decree of the President of the Republic of Belarus “On the development of the digital economy”. The exchange operates in the legal field, which means that personal data and user assets are legally protected. Like any financial institution, Currency.com reports to the regulator and is independently audited by the Ernst & Young Big Four Auditors company.

It is worth noting that fully regulatedThere are only 2 cryptocurrency exchanges in the world - this is the American company Coinbase and the Belarusian exchange Currency.com. Japanese companies should not be taken into account, since they are focused exclusively on the domestic market and their activities do not extend to other states.

As for Coinbase, it does not serve customers from Russia and the CIS.

As a result, unhindered, safe, and mostThe main thing is to buy and sell cryptocurrencies through Sberbank profitably, without fear of fraud and account blocking, it is possible on the Currency.com cryptocurrency exchange.

Next, we will analyze the entire process of buying and selling cryptocurrency on the exchange using transfers through Sberbank.

Registration and Verification

As with any other cryptocurrency exchange, as well as many exchange services, in order to use Currency.com services, you must go through the registration and verification process.

The procedures are standard, however, unlike many popular trading platforms, checking documents after loading takes about an hour, which is fast enough.

Registration takes place on the official website of the exchange https://currency.com/

Balance replenishment

To replenish the exchange balance through Sberbank, click on the top panel Wallets.

How to buy and sell cryptocurrency through Sberbank?

</p>

Next, in the window that appears, select "Russian ruble" and press "Insert."

How to buy and sell cryptocurrency through Sberbank?

</p>

Select “Bank Transfer (PJSC Sberbank)”.

How to buy and sell cryptocurrency through Sberbank?

</p>

In the next window, you will be given the details for a bank transfer to the account of the exchange in Sberbank. Please note that you will need a TIN, beneficiary account, BIC and most importantly - purpose of payment which will indicate the number of your account on the exchange.

How to buy and sell cryptocurrency through Sberbank?

</p>

All you need to do next is go to Sberbank. Online, go to section “Payments and transfers” and choose “Ruble transfer in Russia”.

How to buy and sell cryptocurrency through Sberbank?

</p>

Next, copy the TIN, current account, BIC from the provided details of the exchange and indicate them in the appropriate fields, select the debiting account and click "Continue".

How to buy and sell cryptocurrency through Sberbank?

</p>

In the next window, you will already see the full details of Carrence Com Bel LLC, which are in the Sberbank database, which confirms the transparency, legality and security of the transaction. Enter your name and press "Continue".

How to buy and sell cryptocurrency through Sberbank?

</p>

In the next window, specify "Purpose of payment"by copying it from the details provided by the exchange and click "Continue".

How to buy and sell cryptocurrency through Sberbank?

</p>

Indicate the amount of deposit and click "Continue".

How to buy and sell cryptocurrency through Sberbank?

</p>

And the last step is payment. Please note that Sberbank charges a fee of 0.5%. For the transfer amount of 100,000 rubles, the commission is only 500 rubles. This is a preferential commission, especially for Sberbank customers who replenish their account on Currency.com.

How to buy and sell cryptocurrency through Sberbank?

</p>

All! Transfer completed. No complicated fraud, everything is quite simple and intuitive, which even a beginner will figure out. As soon as the money arrives on the exchange and the payment is processed, it will be displayed on your balance sheet. The transfer is usually carried out within a few hours, since the Currency.com account is opened with Sberbank.

Trade and Exchange

As soon as the funds appear on the balance, youyou can start buying cryptocurrency or 1300+ other assets (stocks, currencies, stock indices, commodities, ETFs and bonds), and you can also start margin trading with leverage from 2x to 100x, the size of which you choose.

Trading conditions on Currency.com are some of the most profitable in the entire cryptocurrency market and the most profitable in the market of Russia and the CIS. For example, buying bitcoin for 100,000 rubles, you will pay a trade commission in the amount of 179 rubles.

How to buy and sell cryptocurrency through Sberbank?

</p>

Spread on the BTC / USD trading pair when trading withleverage is only 5 cents, and for the pair ETH / USD - 1 cent. For comparison, the spread on the BTC / USDT futures contract with a leverage on Binance is floating and varies from $ 1 to $ 3 in calm times and can expand at times of increased volatility.

Cryptocurrency withdrawal

After buying bitcoins, they will immediately be displayedon your balance sheet, after which you can withdraw them. The withdrawal fee is 0.0005 BTC or 294 rubles at the current rate. This commission already includes network collection.

Thus, when buying bitcoins for 100,000 rubles, you paid: 500 rubles to the Sberbank commission, 179 rubles to the exchange trading commission and 294 rubles to the withdrawal commission. In total - 973 rubles or 0.973% (!). Impressive? If not, recall that the commission for replenishing the balance in rubles on Binance through AdvCash is 2.5%, excluding trading and withdrawal commissions.

Selling cryptocurrency and withdrawing rubles to Sberbank

The process of reverse exchange, cryptocurrencies into rubles,no less simple and profitable. Suppose you want to sell cryptocurrency for the same 100,000 rubles, you are selling it at the current rate, having paid a trading commission of 179 rubles (at the current rate at the time of writing).

Come in Walletschoose "Russian ruble" and press withdraw. In the next window, select “RUB.cx” and “New bank transfer” and indicate the amount, in our example it is 99,821 rubles after deducting the trading commission.

How to buy and sell cryptocurrency through Sberbank?

</p>

In the next window, you will need to indicate your account number in Sberbank, indicate the BIC of Sberbank, your name and press withdraw. The withdrawal fee is 300 rubles.

How to buy and sell cryptocurrency through Sberbank?

</p>

All! The conclusion is made. After processing the withdrawal request, the funds will be credited to your account with Sberbank within 15-20 minutes. You do not have to wait 3-5 days.

How to buy and sell cryptocurrency through Sberbank?

</p>

Since the replenishment of the balance in cryptocurrency is free, you paid 179 rubles of the trading commission and 300 rubles of the commission for withdrawal, in the amount of 479 rubles or 0.479% (!). It is difficult to imagine which cryptocurrency exchange, exchange or online wallet can offer the same conditions.

Please note that at the time of withdrawal of money from the exchange, a message from the security service will be sent to your e-mail, in which it will ask you one of the following documents:

  • photo or scan of the current bank account opening agreement;
  • statements or statements of account;
  • a screenshot from Internet banking, where the current account number and your name would be visible.

This is not to create additionalobstacles to withdrawing money, but for your own safety. SB Currency.com should make sure that the withdrawal is made to your personal account, and not to the scam account. This is a one-time procedure, all subsequent conclusions will be held without additional requirements.

Total

Based on our review, the conclusion suggests itselfby myself. The cooperation between the regulated cryptocurrency exchange Currency.com and Sberbank is not only beneficial for all participants of the crypto community, but also safe. You can not be afraid of blocking your account or other consequences when working with cryptocurrencies. No other cryptocurrency service can provide such favorable exchange conditions, since the payment systems with which they cooperate set a high commission protecting themselves from potential risks.

</p>