![How to Buy Crypto With DBS Bank [2023] | Step-by-Step](https://assets.finbold.com/uploads/2023/02/DBS-bank-1024x683.jpg)
Summary: DBS Bank doesn’t offer investors cryptocurrency trading directly on its own platform. Instead, DBS (the Development Bank of Singapore) customers can connect their banking accounts to a reputable crypto exchange like eToro and buy crypto that way.
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Can you buy crypto with DBS?
You can buy crypto with DBS, but you need to connect to a licensed broker that offers cryptocurrencies. As mentioned above, this is because DBS does not offer cryptocurrency services directly through its online banking platform.
Note
How to buy crypto with DBS?
The best way to buy Bitcoin or any other cryptocurrency with DBS is through a renowned broker like eToro, a widely trusted multi-asset investing platform with over 80 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 DBS 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 SGD amount you want to deposit on the eToro platform;
- Step 3: Connect your DBS 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.
Disclaimer: eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Crypto assets are unregulated and highly speculative. There is no consumer protection. You risk losing all of your capital. Refer to eToro’s Terms and Conditions. See full disclaimer.
About DBS
DBS Bank Limited, commonly referred to as DBS, is a Singaporean multinational banking and financial services company based in the Marina Bay district of Singapore. It is one of Singapore’s “Big Three” banks, along with OCBC Bank and the United Overseas Bank (UOB). It is also the largest bank in Southeast Asia, with assets totaling around US$510 billion (S$686 billion), as of February 2023.
DBS crypto policy
DBS is a crypto-friendly bank with no policies prohibiting customers from depositing/withdrawing funds to/from regulated crypto exchanges. Therefore, DBS crypto users are free to use their bank accounts to transfer funds to regulated third-party investment platforms to buy Bitcoin and other digital currencies.
In fact, as mentioned above, the Singaporean bank made a major move into the crypto sector in 2020, launching the DBS crypto exchange. And though the service is currently only available for corporate and institutional investors, the bank has been working on expanding it to retail investors as well as applying decentralized finance technology to collaborative projects with Singapore’s central bank.
How to buy crypto safely
As a relatively new and untested territory, cryptocurrency markets are highly speculative. Fortunately, there are steps you can take to ensure you’re safe when investing in crypto. For starters, you can:
- 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;
- Choose a reputable exchange: Ensure the crypto exchange is licensed by the appropriate regulators in your country and has a solid track record;
- 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 crypto wallets to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet;
- 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 DBS:
How to buy crypto with DBS?
You can buy crypto with DBS by depositing Singapore dollars (SGD) to a licensed third-party trading platform that offers cryptocurrencies.
Can you buy crypto with DBS?
While DBS doesn’t offer crypto trading directly through its own platform for individual investors, you can buy crypto with DBS Bank. Customers can connect their DBS accounts to a regulated cryptocurrency exchange to buy digital assets.
Can you buy Bitcoin with DBS?
You can’t buy Bitcoin from its platform directly; however, DBS crypto users are free to utilize their bank accounts to transfer funds to regulated third-party investment platforms that sell Bitcoin and other digital currencies.
Is DBS crypto-friendly?
DBS Bank is a crypto-friendly bank. In fact, DBS became the first in Singapore to offer cryptocurrency trading services through their DBS Digital Exchange (not available to individual investors).
What is DBS’s crypto policy?
DBS has no policies prohibiting its users from buying and selling cryptocurrencies through licensed exchanges.
How to buy Bitcoin on eToro?
As eToro accepts multiple payment methods, including debit and credit cards from all major banks, you can buy Bitcoin on eToro by linking your DBS bank account to your eToro account and depositing funds to the platform.
