How to Buy Crypto with Wise Bank
The best and most secure way to invest in cryptocurrencies like Bitcoin and Ethereum with Wise Bank is by going through the eToro UK exchange. Wise Bank account holders can deposit funds to eToro via Bank Transfer, Credit/Debit Card, Trustly, Skrill, Neteller, PayPal and Rapid Transfer. Follow the below guide to get started.
- Create Free Account: Sign up to eToro UK and complete the verification process.
- Deposit GBP: Click ‘Deposit Funds’, select a method and send money from Wise Bank.
- Buy Crypto: Head to the search bar, type in the token you want to buy and click ‘Trade’. Then input the amount you want to spend and tap ‘Open Trade’.
Are the fees high to buy Cryptocurrencies?
Not at all, eToro takes a very small percentage of your total investment amount. The exchange offers free and instant GBP deposits through all its supported methods. Furthermore, there is only a small $5 fee for withdrawals. And, the only cost is a 1% fee for every crypto trade (when you buy or sell), meaning if you buy $100 worth of Bitcoin, you only need to pay eToro $1. This is relatively low compared to other exchanges.
Wise Crypto Policy
Wise understands the potential impact and value that cryptocurrencies bring to the financial industry. While they currently do not offer direct support for cryptocurrency transactions, they’re open to exploring and investing in the digital asset space. The bank believes in staying at the forefront of innovation and continuously evolving with market trends.
As such, Wise Bank is actively monitoring developments in this area and considering potential partnerships or investments in the future. In the meantime, their customers can still access their crypto assets through third-party platforms that are regulated by the FCA. There is nothing highlighted in their terms and conditions that prohibit customers from investing in digital assets.
About Wise Bank
Wise (formerly Transferwise) is a digital banking platform based in the UK that offers a range of financial services including current accounts, savings accounts, and loans. What sets Wise Bank apart from traditional banks is its focus on transparency, sustainability, and community-driven decision making. Through Wise Bank's participatory democracy model, customers can vote on how their fees are allocated to charitable causes or community projects.
Wise has received positive reviews for its innovative approach to banking and commitment to values-led decision making. Customers appreciate the ease of use and transparent fee structure of the platform. The ability to actively participate in decision making and support social projects also sets Wise Bank apart from traditional banks