How to Buy Crypto with Bank of Singapore

Last updated on November 12, 2023

Quick Summary: While Bank of Singapore does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Singapore cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

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Bank of Singapore Homepage

As mentioned in my quick summary, like most Singapore banks, Bank of Singapore doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency exchange and comes with regulations and extra work for the banks.

Thankfully there are many crypto trading platforms to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Bank of Singapore

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Bank of Singapore.

Buy Crypto With eToro

About Bank of Singapore

The Bank of Singapore is the private bank that is part of OCBC Bank. It was previously known by the title of ING Asia Private Bank, it was bought in 2009 by OCBC Bank in 2009 from ING Group for US$1.46 billion. At the end of September, 2022 the the assets of Bank Singapore under administration (AUM) stood at US$109 billion.

The headquarters are in Singapore and headquartered in Singapore, it is headquartered in Singapore. Bank of Singapore has branches in Hong Kong and Dubai, with an agent office in Manila. In Europe the bank provides clients via BOS Wealth Management Europe Societe Anonyme (S.A.) which is located at Luxembourg and has an London office. In Malaysia it serves customers through BOS Wealth Management Malaysia. Bank of Singapore is rated Aa1 by Moody’s.

The bank’s launch date was 29 January 2010, following an acquisition ING Asia Private Bank by OCBC Bank in 2009. The acquisition came as part of ING’s restructuring plans in the wake of a bailout by the government for ING Group in 2008, because of the financial crisis that hit the latter part of 2000. Its current headquarters, called the Bank of Singapore Centre at Market Street, was officially opened in June of this year. Since it was opened this bank is working to strengthen its position within its position in the Asia Pacific region.

In July of 2018, Bank of Singapore was granted an investment company license to run an investment company subsidiary for wealth management in Luxembourg the first time for an Singapore private institution. Bank of Singapore, through the new subsidiary BOS Wealth Management Europe S.A. is able to provide an array of private banking services and investment advice to its ultra-high as well as high-net worth customers within the European Economic Area (EEA) as well as that of the United Kingdom.

The bank offers bespoke wealth management as well as lending and investment services in addition to general banking services offered by the bank it is a subsidiary of, OCBC Bank. The bank also provides analyses of financial results for areas like international equities as well as the estate planning service.