How to buy Crypto with HSBC Bank

Investing in cryptocurrencies like Bitcoin with HSBC Bank is an easy and secure process when you use an FCA-regulated exchange like eToro. On eToro, you can deposit funds from HSBC through Credit Card, Debit Card, Bank Transfer, Trustly, Neteller, Skrill & Rapid Transfer. You can buy crypto with HSBC bank in these four simple steps.

  1. Create Account: After you have signed up, the system will require you to pass a KYC (Know Your Customer) verification.
  2. Fund Account: Click ‘Deposit Funds’, choose a method and send money from HSBC.
  3. Find Asset: Head to the search bar, input the token you want to buy and tap ‘Trade’.
  4. Buy Token: Select the amount you want to invest and press ‘Open Trade’ to finalise your purchase. Your eToro wallet will be credited once the process has completed.
Deposit Funds with HSBC Bank.

Fees for Cryptocurrency Investing

Cryptocurrency exchanges play an important role in determining the costs of your crypto investments. Typically, exchanges deduct fees at three stages: at the time of deposit, at withdrawal and when the user buys or sells crypto.

eToro only charges a fee when the user buys or sells a token and secondly when a withdrawal is processed, however, the withdrawal fee is only $5 per transaction. The trading (buying/selling) fee is a flat 1%, which will be automatically deducted from the total price you will receive. If you want to learn more about eToro’s pricing, you can visit eToro’s Fees Schedule.

Does HSBC allow cryptocurrency purchases?

HSBC offers an extensive range of investment products through its online portal, HSBC InvestDirect. Unfortunately, digital assets are not among this list of assets. At the time of writing, you can only invest in shares, equities and funds through HSBC InvestDirect.

Is HSBC Crypto-Friendly?

HSBC bank has publicly stated its negative view towards cryptocurrencies. In May 2021, the CEO of HSBC Noel Quinn told Reuters: “As a product, I questioned its suitability for many of the consumers in the marketplace today. So that’s why HSBC is more negative on crypto than other banks” and more recently, ‘’As a bank, we’re not getting into the crypto world, crypto trading, crypto exchanges”. 

HSBC Online Banking

In saying that, HSBC does not restrict its users from investing in digital assets through legitimate, FCA(Financial Conduct Authority)-regulated exchanges like eToro. Furthermore, there is nothing stated in HSBCs policies that would prohibit its customers from engaging in cryptocurrency trading or investing from their bank accounts.

More About HSBC Bank

HSBC Bank, also known as The Hongkong and Shanghai Banking Corporation Limited, is a global banking and financial services company headquartered in London, United Kingdom. It was founded in Hong Kong in 1865 and has since expanded to operate in over 65 countries with approximately 38 million customers worldwide.

Along with traditional banking services, HSBC also offers insurance, investment management, private banking, and commercial banking solutions. The bank has been recognized for its sustainability efforts and was named the Best Bank for Sustainable Finance by Euromoney Magazine in 2018.

As of 2019, HSBC boasts total assets of $2.67 trillion US dollars making it the sixth largest bank in the world. Despite facing controversies such as money laundering charges and tax evasion allegations in recent years, HSBC remains a major player in the global banking industry.