How To Buy Crypto with OCBC Bank
- James Page
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Author: James Page - Last Updated on June 28, 2022
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 OCBC Bank account to buy crypto.
All you need is a reliable and trusted cryptocurrency exchange. 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 OCBC Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with OCBC 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, luckily for us, there are plenty of cryptocurrency exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
1. Choose a crypto exchange
While there are a lot of cryptocurrency trading platforms, 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 OCBC Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy crypto
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 OCBC Bank
Oversea Chinese Banking Corporation, Limited, commonly known as OCBC Bank, Singaporean multinational banking and financial service corporation, is headquartered at OCBC Centre, Singapore. OCBC Bank was formed in response to the Great Depression. It was the result of three banks being consolidated in 1932: the Chinese Commercial Bank Limited, the Ho Hong Bank Limited (incorporated 1917), and the Overseas Chinese Bank Limited (incorporated 1919).
OCBC Bank is the second-largest bank by assets in Southeast Asia, and the largest among the larger banks in Asia-Pacific. It also has one of the highest-rated banks in the world, earning an Aa1 rating with Moody's as well as an AA rating from Standard & Poor's.
Global Finance Magazine has consistently ranked OCBC Bank as one of the 5 most safe banks worldwide. OCBC Bank Singapore was ranked the 5th most secure bank in Asia-Pacific by Asian Banker for 2018-2019. The bank now has more than 570 branches worldwide and representative offices in 18 different countries. These include more than 320 Indonesian branches and offices under the subsidiary Bank OCBC NISP and more 100 branches and offices under OCBC Wing Hang Bank in Hong Kong, China, Macao and Macao. Global Finance Magazine awarded OCBC Bank World's Best Bank Asia-Pacific 2019
On 31 October 1932, three banks, Chinese Commercial Bank (1912), Ho Hong Bank (177) and Oversea Chinese Bank-1919 merged to form Oversea Chinese Banking Corporation. Lee Kong Chian and Hoklos Ean Kiam were the leaders. Over the next decades, the bank's operations grew and it became the largest South East Asian bank.
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