Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a crypto exchange. However, that doesn’t mean you can’t use your DBS Bank account to buy crypto.
All you need is a reliable and trusted cryptocurrency trading platform. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.
How to buy crypto or bitcoin with DBS Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with DBS Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a crypto trading platform.
However, there are many cryptocurrency trading platforms that you can use for buying bitcoin and other cryptocurrencies.
1. Choose a crypto exchange
While there are a lot of crypto exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.
The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).
Let’s get into it!
2. Create an account on the exchange
The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.
3. Transfer funds into the account
Transferring funds from your DBS Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy cryptocurrency
Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.
And that’s it, you now have some crypto, congratulations!
About DBS Bank
DBS Bank Limited, also known as DBS, a Singaporean multinational financial services and banking corporation, is headquartered in the Marina Bay Financial Centre, Singapore. The bank was previously called The Development Bank of Singapore Limited. "DBS", which is the name of the bank, was used before its current abbreviated designation was adopted on 21 Jul 2003 to reflect its global banking role. It is among the "Big Three" banks of Singapore.
Singapore Exchange: The bank was founded by the Government of Singapore 16 July 1968 to replace the Economic Development Board's industrial financing activities. There are more than 150 branches of DBS across the country. DBS is the biggest bank in Southeast Asia (by assets) and the largest in Asia. Its assets were approximately US$501 billion (S$650 million) at 31 December 2019. It holds market-dominant positions for consumer banking, treasury, markets, asset brokerage, asset manager, and securities brokerage.