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 cryptocurrency trading platform. However, that doesn’t mean you can’t use your Standard Chartered 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 Standard Chartered Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with Standard Chartered 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 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 Standard Chartered 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 Standard Chartered Bank
Standard Chartered Private Bank is a British multi-national services company with headquarters in London. It has more than 1,200 branches throughout 70 countries.
Standard Chartered employs 85,000 people currently and manages US$67.1 million in assets.
It has roots in Asia, Africa, and the Middle East. The company provides financial services to clients through corporate and consumer banking, as well institutional banking.
Standard Chartered has been authorized by Prudential Regulation Authority. It is regulated by Financial Conduct Authority.
Standard Chartered claims to be able to assist clients in managing, protecting and growing their wealth.