How to Buy Crypto With OCBC Bank [2024]

Summary: OCBC Bank doesn’t offer investors the chance to buy cryptocurrencies on its own platform. Instead, to purchase digital assets like Bitcoin (BTC) and Ethereum (ETH), OCBC customers can connect their banking accounts to crypto-friendly multi-asset investing platforms like Interactive Brokers.

Can you buy crypto with OCBC? 

You can buy crypto with OCBC Bank, but you must connect to a licensed broker offering cryptocurrencies. As mentioned above, this is because OCBC does not offer cryptocurrency services directly through its online banking platform.

How to buy crypto with OCBC?

If you’re looking to purchase Bitcoin or other cryptocurrencies using Zelle Pay in the US, Interactive Brokers is a reliable option. This platform provides a range of investment opportunities, including cryptocurrencies, and equips you with sophisticated trading tools and analytics to refine your crypto investment approach.

How to buy crypto with OCBC online banking: Step-by-Step

You can get started in minutes with four simple steps:

• Step 1: Create an account and complete your verification;
• Step 2: Enter the SGD amount you want to deposit on the Interactive Brokers platform;
• Step 3: Connect your OCBC 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: Interactive Brokers LLC is regulated by NFA but note that NFA’s oversight doesn’t extend to virtual currencies or their exchanges and custodians. Trading digital assets like cryptocurrencies carries high risks suitable only for those who can afford potential losses. Details on these risks are available in IB‘s “Disclosure of Risks of Trading Digital Assets.” IB doesn’t execute or custody digital assets; such transactions and custody are solely through Paxos Trust Company or Zero Hash LLC, where assets are not SIPC protected.

About OCBC

Oversea-Chinese Banking Corporation, Limited (OCBC) Bank is a Singaporean multinational banking and financial services company headquartered in Singapore. It’s the second-largest bank in Southeast Asia, just behind DNB, with assets totaling around US$364.5 billion (S$491.6 billion).

Services offered by OCBC include: 

• Personal banking: Checking and savings accounts, credit and rewards cards, mortgages, loans, insurance;
• Business banking: Business loans and financing options, business accounts;
• Wealth management: Advisory services and portfolio management, Robo-advisors, trading accounts, retirement solutions. 

OCBC’s crypto policy

OCBC Bank is a crypto-friendly bank with no policies prohibiting users from buying and selling cryptocurrencies through licensed and regulated trading platforms. In fact, in an interview with Bloomberg in November 2021, OCBC chief executive officer Helen Wong announced that the bank is considering setting up a crypto exchange, saying: 

“We are looking at it and seriously there are some work being done in the bank,” Wong said, adding that the bank wants to address customer needs “in a safe manner.”

How to buy crypto safely

• Research your chosen cryptocurrency: Understand its workings and associated risks;
• Use a secure device: Avoid public computers; employ a personal device with a VPN for a secure connection;
• Choose a reputable exchange: Ensure regulatory compliance, review terms, and gauge user feedback;
• Secure your account: Implement two-factor authentication and a robust password;
• Utilize a secure wallet: Safeguard your crypto with a reliable hot or cold wallet;
• Invest wisely: Only invest what you can afford to lose due to market volatility;
• Monitor investments: Stay vigilant about market changes and your chosen cryptocurrency’s price fluctuations.

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 OCBC

How to buy crypto with OCBC?

You can’t buy crypto directly with OCBC. However, you can connect your banking account to a licensed third-party trading platform that offers cryptocurrencies.

Can you buy crypto with OCBC?

While OCBC doesn’t offer crypto trading directly through its own platform, customers can connect their bank accounts to a regulated broker that offers cryptocurrencies to buy digital assets.

What is OCBC’s crypto policy?

OCBC has no policies prohibiting its users from buying and selling cryptocurrencies through licensed exchanges. 

Is OCBC crypto-friendly?

OCBC Bank is a crypto-friendly bank and allows its customers to use their accounts to buy, sell and trade digital assets through regulated exchanges.