Can I buy Crypto with Standard Chartered?
Standard Chartered supports its customers' participation in digital asset investing by approving transactions to licensed and regulated cryptocurrency exchanges. It allows funds to be moved from its clients' accounts or cards to cryptocurrency trading platforms in the UK licensed and regulated by the UK's Financial Conduct Authority (FCA). Customers must choose a cryptocurrency platform that adheres to UK regulatory standards.
How to Buy Crypto with Standard Chartered Bank
Standard Chartered customers should use the eToro exchange to buy cryptocurrency as it is regulated and licensed to operate in over 140 countries and supports 20 languages on its platform. eToro offers instant deposits from Standard Chartered via Bank Transfers, Credit Cards, Debit Cards, PayPal, Skrill and Neteller.
Start your cryptocurrency investing journey with this easy guide:
- Open a free account on eToro and complete the verification process.
- Click 'Deposit Funds', pick a method, and transfer funds from Standard Chartered.
- Go to the search bar, locate the desired token, and click 'Trade'.
- Enter the amount you wish to purchase and click 'Open Trade'.
Standard Chartered Bank Cryptocurrency Policy
Standard Chartered Bank fosters digital asset engagement among its customers by sanctioning the transfer of funds to cryptocurrency platforms regulated by the Financial Conduct Authority. The bank works with international regulatory organisations to uphold a lawful and safe fiscal environment. The bank retains the discretion to limit transactions linked with foreign cryptocurrency exchanges, specifically those identified as high-risk or lacking rigorous regulatory compliance.
Deposit and Trading Fees
Understanding the possible costs involved in cryptocurrency trading is vital. These are some of the common fees you may encounter when buying crypto with Standard Chartered:
- Deposit Charges: In contrast to many crypto marketplaces that provide complimentary transfers, Standard Chartered Bank might impose certain transaction fees. We advise you to check these charges directly with the bank. Should you use a credit card to deposit funds into your account, your fees could exceed 2%.
- Transaction Fees: A multitude of crypto trading hubs apply a spread, a marginal percentage of every transaction. This spread may vary depending on the cryptocurrency and the platform, usually around 1%.
Bear in mind that the fee structures can differ between platforms. As such, we recommend reviewing the latest fee information from your chosen crypto marketplace and Standard Chartered Bank to stay current and avoid unexpected costs.
The Bottom Line
To sum up, Standard Chartered Bank account holders can invest in digital assets by using secure and regulated global cryptocurrency exchanges. The best and most trusted option is eToro, as it is widely considered the most secure trading platform worldwide, with over 30 million users in 140+ countries. eToro is a social trading platform with unique features like copy trading, crypto staking, an in-built social media platform, and a virtual trading environment.