Can I Buy Bitcoin with OCBC Bank?

Yes, you can purchase cryptocurrencies such as Bitcoin, Ethereum, and stablecoins using your OCBC bank account or card. Transactions are conducted in Singapore Dollars (SGD) through a licensed cryptocurrency exchange in Singapore. For regulatory compliance, you must register with an investment platform that is licensed by the Monetary Authority of Singapore (MAS).

How to Buy Crypto with OCBC Bank

‍To purchase cryptocurrencies through OCBC Bank, begin by selecting an exchange that is regulated by the Monetary Authority of Singapore (MAS). Coinhako is a popular choice, offering quick SGD deposits through credit cards, debit cards, PayNOW and Fast bank transfers. It provides access to over 100 cryptocurrencies to trade with low fees.

Here’s a straightforward guide to buying crypto with OCBC Bank:

1. Register and Verify: Sign up on Coinhako and complete the verification process to activate your account.
2. Link Your OCBC Bank Account: Connect your OCBC Bank account to enable SGD transfers to Coinhako.
3. Choose Your Cryptocurrency: Browse and choose from over 100 available cryptocurrencies on Coinhako.‍
4. Execute the Trade: Decide how much SGD to invest and complete your trade on Coinhako.

What are the Fees?

When purchasing Bitcoin or other cryptocurrencies through an OCBC Bank account, the fees will vary based on the chosen exchange. Key expenses include deposit and withdrawal charges, the spread between buy and sell prices, and transaction costs.

For OCBC Bank customers, Coinhako offers an affordable solution. It provides competitive fees and low spreads on crypto assets. Trading fees start at just 0.6%, making it a great choice for investors. Deposits below SGD 1,000 incur a small fee of SGD 2.50, while withdrawals are charged a flat fee of SGD 1.50.

Is OCBC Bank Crypto-Friendly?

Yes, OCBC Bank supports cryptocurrency activities, allowing transactions with approved trading platforms that comply with the Monetary Authority of Singapore's (MAS) regulations. This policy permits customers to transfer Singapore Dollars from their accounts to exchanges that meet the country's strict standards aimed at preventing financial crimes.

As a result, the bank's customers can confidently participate in digital currency investments on these regulated exchanges, knowing their transactions are secure and fully compliant with legal requirements.

About OCBC Bank

OCBC Bank, or Oversea-Chinese Banking Corporation Limited, is a leading financial services group in Southeast Asia. It offers products like the OCBC 360 Account for high-interest savings, OCBC Credit Cards with rewards, and the OCBC OneAdvisor for financial planning. With a strong presence in Singapore, Malaysia, Indonesia, and Greater China, the bank focuses on customer solutions and financial security.

Bottom Line

In conclusion, OCBC Bank enables the purchase of cryptocurrencies through MAS-licensed exchanges, ensuring secure transactions in Singapore Dollars (SGD). Coinhako is a top choice, offering quick SGD deposits, low fees, local customer support, and access to over 100 cryptocurrencies to buy and trade. The bank's support for crypto transactions allows clients to explore digital assets in a compliant manner.