How to Buy Crypto with UOB

Can I Buy Bitcoin with UOB?

Yes, UOB clients can transfer SGD to digital asset exchanges in Singapore and convert their funds to cryptocurrencies like Bitcoin. It’s essential to use platforms licensed by the Monetary Authority of Singapore (MAS) to maintain regulatory compliance in the country. UOB supports secure bank transfers, PayNow, debit cards and other payment methods.

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How to Buy Crypto with UOB

UOB users can buy cryptocurrencies by using regulated exchanges like OKX, which follow Singapore's financial guidelines. This platform supports over 350 cryptocurrencies and accepts deposits in Singapore Dollars (SGD) through bank transfers, credit cards, debit cards and various other payment methods.

Here’s how to buy crypto using UOB on OKX:

1. Create an Account: Sign up on the OKX website and complete the account verification process.
2. Deposit Funds: Go to the ‘Buy Crypto’ section, choose your preferred deposit method, and transfer SGD from your UOB account.
3. Select Asset: Pick the cryptocurrency you want to buy and ensure SGD is selected as your funding currency.
4. Execute Trade: Enter the amount in SGD, confirm your details, and complete the purchase.

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What are the Fees?

Most exchanges charge for deposits, trades, and withdrawals, with trading fees typically ranging from 0.1% to 2%. For UOB users, OKX offers a competitive fee structure. Spot trading fees are 0.08%, while futures trading fees begin at 0.02% for makers and 0.05% for takers. 

Depositing Singapore Dollars (SGD) through bank transfer is often low-cost or free, making OKX an affordable option for UOB customers. Always check withdrawal fees, as they can vary based on the specific crypto asset.

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Is UOB Crypto-Friendly?

UOB allows users to transfer Singapore Dollars (SGD) to exchanges licensed by the Monetary Authority of Singapore (MAS). Although the bank doesn’t offer direct crypto trading services, it supports transfers to regulated platforms that comply with Singapore’s financial standards. 

UOB does not place any restrictions on crypto-related transfers, and any transaction issues are typically resolved efficiently through their customer support. 

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About UOB Bank

UOB, or United Overseas Bank, is one of Singapore's top banks, offering a wide range of services from personal banking to corporate finance. Founded in 1935, it has expanded across Asia, with strong operations in countries like Malaysia, Thailand, Indonesia, and China. It provides everything from savings accounts and loans to investment and wealth management options.

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Bottom Line

In conclusion, buying crypto with UOB is easy when using licensed exchanges like OKX. While UOB doesn’t offer direct crypto trading, it facilitates SGD transfers to trusted trading platforms. OKX is a great option for Singaporean investors as it is licensed by MAS, supports local deposits and has 350+ tokens to trade on spot and futures markets.