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

Summary: OCBC Bank doesn’t offer investors the chance to buy cryptocurrencies on its own platform. Instead, OCBC 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 OCBC, investors in Singapore will need to sign up with a regulated crypto-friendly exchange like eToro and deposit Singapore dollars (SGD) from their OCBC account.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

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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 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?

The best way to buy Bitcoin or any other cryptocurrency with OCBC 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 OCBC 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 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.

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 OCBC

Oversea-Chinese Banking Corporation, Limited, commonly referred to as OCBC Bank, is a Singaporean multinational banking and financial services company headquartered in Singapore. It is 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

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 best protect yourself and your money:

• 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 OCBC: