Summary: Wise doesn’t support direct cryptocurrency trading. However, UK investors can connect their Wise accounts to a reputable crypto broker like eToro to buy Bitcoin (BTC) and Ethereum (ETH) by depositing GBP.
Best Crypto Exchange for Intermediate Traders and Investors
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Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
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0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
Can you buy crypto with Wise?
You can buy crypto with Wise, but you need to connect to an FCA-licensed cryptocurrency exchange. As mentioned above, this is because Wise does not offer cryptocurrency services directly through its online banking platform.
How to buy crypto with Wise?
The best way to buy Bitcoin or any other cryptocurrency with a Wise online banking account in the UK is through a renowned broker like eToro, which is a widely trusted digital asset platform with over 70 cryptocurrencies and unique features such as Copy Trading, which enables users to copy top-performing crypto traders, in addition to a custom watchlist, as well as advanced charts and technical analysis tools.
How to buy crypto with Wise: 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 GBP amount you want to deposit on the eToro platform;
- Step 3: Connect your Wise 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: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
About Wise
Formerly Transferwise, Wise is a neobank based in London that offers various financial and banking services for both businesses and individuals. It was founded in 2011 by Estonian entrepreneurs Taavet Hinrikus and Kristo Käärmann and quickly gained a reputation for its innovative approach to banking. Wise famous for its multi-currency borderless account that lets users hold and transfer money in multiple currencies as well as receive local bank details for Europe, the UK, the US, and Australia.
Services offered by Wise include:
- Personal banking: Checking accounts and savings accounts (Jars);
- Business banking: Business checking accounts and business tools, including invoice and accounting software;
- Wealth management: Financial planning and advisory services with options to choose how you’d like your balance or savings to be held (cash/stocks/interest-bearing fund);
- Borderless account: Get local account details for the UK, Europe, the US, Australia, New Zealand, Romania, Turkey, Canada, Singapore, and Hungary. Hold and convert money in 52 currencies and send money to 77 countries.
Wise crypto policy
Wise does not currently you to buy crypto products or services related to digital assets. However, Wise’s crypto policy allows its clients to use their Wise online banking account to deposit or withdraw fiat currency from regulated third-party crypto brokers.
Should I invest in crypto?
Cryptocurrencies are still new compared to more traditional asset classes like stocks or bonds. As such, they carry a high risk due to their volatile nature. Yet, there are several advantages to investing in crypto with Wise and buying Bitcoin, Ethereum, and other altcoins, such as:
- Potential for high returns: Digital currencies can deliver significant returns on investment, particularly during rapid price appreciation;
- Blockchain technology: Investing in crypto supports this new innovative technology and its development, as blockchain has numerous other potential applications beyond digital currencies;
- Privacy features: Cryptocurrencies are often associated with more privacy, as transactions are linked to cryptographic addresses instead of real-world identities;
- Cost-effective and accessible: Cryptocurrencies allow quicker and more cost-effective international transfers than traditional financial systems like banks, eliminating the need for intermediaries and reducing transaction costs;
- Diversification: Including cryptocurrencies in your investment portfolio can help diversify your holdings and potentially reduce or spread the risk.
By thoroughly understanding cryptocurrencies and the underlying blockchain technology, you can also have improved odds of finding yourself with a hefty profit. However, making fully informed decisions is essential.
Bitcoin price today
How to buy crypto safely
Cryptocurrencies and crypto trading can still be considered a relatively young and untested market subject to vast spikes and lows in price, making them a much riskier investment than stocks. Fortunately, there are a few ways to ensure you’re buying crypto with Wise safely.
- Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks of investing in the crypto space are;
- Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer, preferably with a VPN;
- Choose a reputable exchange: Ensure the exchange has a license from an appropriate regulator 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 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. For more investing tips, take 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 Wise
How to buy crypto with Wise?
You can buy crypto with Wise by connecting your banking account to a third-party cryptocurrency exchange.
Can I buy crypto with Wise?
While Wise doesn’t offer crypto trading directly through its own platform, customers can connect their bank accounts to an FCA-regulated digital asset broker to invest in crypto.
Is Wise (Transferwise) crypto-friendly?
Wise’s crypto policy allows customers to use Wise online banking accounts or services to buy, sell and trade digital assets through regulated exchanges.
