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

Summary: DBS Bank doesn’t offer investors the chance to buy cryptocurrencies on its own platform. Instead, DBS (the Development Bank of Singapore) customers can connect their banking accounts to a licensed crypto-friendly multi-asset investing platform to buy digital assets like Bitcoin (BTC) and Ethereum (ETH). 

In short, to buy crypto with DBS, investors in Singapore will need to sign up with a regulated crypto-friendly exchange like eToro and deposit Singapore dollars (SGD) from their DBS account.

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Intermediate Traders and Investors

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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 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.

How to buy crypto with DBS?

The best way to buy Bitcoin or any other cryptocurrency with DBS is through a 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 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.

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 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. 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. And though the Monetary Authority of Singapore (MAS) has proposed a regulatory framework to reduce consumer risks from cryptocurrency trading and enhance standards of stablecoin-related activities, the crypto sphere is still teeming with fraud and subject to tremendous price volatility, putting investors at risk. 

Fortunately, there are steps you can take to ensure you’re staying safe when investing in crypto. Here are a few essential guidelines for getting started with digital assets and how to protect yourself and your money best:

• 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 crypto 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 DBS: