Summary: Wise Bank (TransferWise) does not offer any direct cryptocurrency investing services for Personal or Business accounts through their online banking platform. In order to buy Crypto with a Wise account, you will need to sign up to an FCA-licensed crypto broker to deposit fiat.
We recommend a platform like eToro because they offer fast and cheap GBP, EUR and USD deposits from Wise Accounts to trade over 70 Cryptos and 7,000+ Stocks, ETFs and other assets.
- Fast and cheap Fiat Deposits via Bank Transfer.
- Zero trading fees and commissions on Crypto trades.
- 70+ Cryptos and over 7,000 Stocks, ETFs & Commodities.
78% of retail CFD accounts lose money.
Table of Contents
Can I buy Crypto on the Wise Bank (Transferwise)?
Unfortunately, similar to most major banks in the United Kingdom, you cannot buy cryptocurrency directly on the Wise (formerly TransferWise) banking platform. Although they are regulated by the FCA, they have not acquired the licenses to operate a cryptocurrency exchange, yet.
In the meantime, you can securely purchase digital assets on Financial Conduct Authority and regulated and European Securities and Markets Authority licensed exchanges in the UK and Europe.
How to buy Crypto with Transferwise Online
The easiest way to buy Bitcoin, Ethereum and other cryptocurrencies with a Wise Bank (Transferwise) account is through a trusted exchange like eToro. They are licensed by the FCA and ESMA and offer instant and cheap deposits from Wise Bank via bank transfer, debit card or credit card.
You can start investing in digital assets from your Wise account in 4 simple steps:
- Step 1: Sign up to eToro UK and verify your identity.
- Step 2: Select ‘Deposit Funds’ on the home page and complete a bank transfer from Wise Bank (GBP, EUR, USD & 40 other fiat currency options).
- Step 3: Find the crypto asset you want to buy on the eToro platform.
- Step 4: Input the amount you want to buy and execute your trade.
About Wise Bank
Wise Bank (Transferwise) is a digital bank based in Estonia that offers international money transfer and currency exchange services. Wise was founded in 2011 by Taavet Hinrikus and Kristo Käärmann. Wise is available in over 50 countries and supports over 700 different currencies.
Wise offers a multi-currency account that allows users to hold and transfer money in multiple currencies. Wise also offers a borderless account which allows users to receive local bank details for Europe, the UK, the US, and Australia.
Is Wise Bank safe and regulated?
Wise is licensed by the Estonian Financial Intelligence Unit and is subject to supervisory requirements under EU law. Wise is also a member of the European Consumer Protection Cooperation Network.
Wise offers a multi-currency account, a borderless account, international money transfer, and currency exchange services. Wise also offers a business account for SMEs.
How much does Wise Bank cost?
Wise charges no monthly fees for any of its accounts. Wise also offers free international money transfers in over 50 countries. For currency exchange, Wise charges a flat fee of 0.35% and a variable exchange rate margin.
Is eToro a secure platform?
Yes, eToro is the most secure centralised cryptocurrency exchange in the world. It is the oldest exchange and was founded in 2008. It has acquired the appropriate licensing and is allowed to operate in over 65 countries. It has never been subjected to a cyber attack or any hacking incidents and stores of its users' funds offline in cold storage. You can read more in our extended eToro Review.
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