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How to Buy Crypto with United Overseas Bank in Singapore

Last updated on November 12, 2023

Quick Summary: While United Overseas Bank 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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United Overseas Bank Homepage

As mentioned in my quick summary, like most Singapore banks, United Overseas Bank 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 cryptocurrency 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 UOB

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 United Overseas Bank.

Buy Crypto With eToro

About United Overseas Bank

UOB is considered to be one of the top banks, with a rating of with ‘Aa1’ by Moody’s Investors Service and ‘AAwith a ‘AA’ rating from the two organizations, S&P Global and Fitch Ratings. With an international office network that includes 500 branches in 19 countries across Asia Pacific, Europe and North America.
In Asia They operate from their headquarters in Singapore and bank subsidiaries located in China, Indonesia, Malaysia, Thailand and Vietnam, in addition to offices and branches throughout the region.

On the 14th of February, UOB announced that it will launch TMRW (the first bank that is mobile-only) with Thailand being the first nation to receive this service. Further ASEAN countries will receive this service over the next months, as it tries towards millennials, who mostly use mobile phones to bank. UOB hopes to bring in up to three million customers to this service over the five years to come. The service went live in March of that year.

The 3rd August of 2020 was the day that UOB announced TMRW on the island of Indonesia after mentioning it on the 21st of February. Then, on the 28th of September in 2021 UOB declared a 500 million increase in investments in digital banking in the course of five years in order to grow its digital customer base until they reach seven million customers by the year 2026. It also plans to extend its digital offerings to Singapore in addition to ASEAN.

This includes combining UOB Mighty app together with it’s TMRW app to create an app called the UOB TMRW app. The app will launch in Singapore during mid-April in 2021’s fourth quarter. The app was initially offered to UOB employees as a test. Additionally, online banking will soon be unification in other countries, including Malaysia in addition to Vietnam.