How to Buy Bitcoin and Crypto with Wise Bank

Summary: Wise does not currently offer direct cryptocurrency investments through its online banking platform. For customers interested in digital assets, we recommend using an exchange registered with the Financial Conduct Authority (FCA). Users can start investing by transferring currencies like British Pounds (GBP) or Euros (EUR) from their Wise accounts to these trading platforms.

Our review highlights eToro as a leading choice for Wise customers as it provides an FCA-registered environment to trade cryptocurrency. It boasts a broad array of assets, including over 3,000 digital currencies, stocks, commodities and ETFs, all with competitive fees. The platform supports deposits in more than 30 currencies, such as GBP, EUR, USD, SEK, AUD and more, aligning with the diverse needs of its global customer base.

Best Exchange for Wise Bank - eToro

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Platform Highlights

Financial Conduct Authority (FCA) registered broker with over 30 million users.
Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
Wise deposit methods include Bank Transfer, Debit Card, SEPA, FPS and more.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Table of Contents

Can I Buy Bitcoin with Wise?

Yes, Wise (formerly Transferwise) allows users to send currencies such as USD, GBP and EUR from their accounts to authorised cryptocurrency exchanges in the UK for the purpose of buying Bitcoin and other assets. To buy or trade crypto, users must deposit funds into a regulated platform. For secure digital currency transactions, using an exchange compliant with financial regulators like the Financial Conduct Authority (FCA) is recommended.

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How to Buy Crypto with Wise

Buying cryptocurrencies like Arbitrum and Ethereum through your Wise account can be straightforward and secure, especially when using a regulated broker. Our recommendation is eToro, which is registered with the FCA in the UK, plus other global regulators like the CySEC. It offers an extensive range of over 3,000 assets, including cryptocurrencies, stocks, ETFs, and more. The platform accepts deposits in over 20 currencies from Wise accounts, with industry-competitive fees.

Start investing in thousands of assets with Wise by following these simple steps:

Account Setup: Register an account on eToro and complete the necessary identity verification.
Deposit Funds: Click 'Deposit Funds' in the bottom left hand corner of your screen and transfer funds from your Wise account.
Locate Asset: Go to the search bar, find your desired token and click the 'Trade' button.
Buy Crypto: Input the amount you want to invest in the asset and tap 'Open Trade'.

Purchase digital assets with a Wise deposit.

Wise Cryptocurrency Policy

Wise, known for its innovative stance in financial services, actively supports cryptocurrency advancements within the boundaries of legal frameworks. Our recommended exchange, eToro (UK) Ltd, holds registration from the Financial Conduct Authority (FCA), ensuring compliance and reliability. Its registration number is 583263, and its headquarters are situated on the 24th floor of One Canada Square in the bustling financial hub of Canary Wharf, London, postcode E14 5AB.

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Digital Asset Investing Fees

For Wise users interested in investing in digital assets, understanding the associated fees is essential. Here are the key types of fees to consider:

Trade Spreads: This is the cost incurred when buying or selling digital assets. eToro typically charges around 1% for crypto trades, which is quite competitive compared to platforms like Coinbase, where fees can exceed 2%.
Deposit Fees: Transferring money from Wise to your investment account might involve fees. Faster Payments generally offer the most affordable method. Alternatively, using a debit or credit card could incur fees over 2%.
Withdrawal Fees: The cost of withdrawing your funds varies by the digital asset. For Bitcoin withdrawals, a common fee on many platforms is 0.0005 BTC.

Taking these fees into account is crucial for making smart financial decisions and efficient trading in the digital currency landscape. This knowledge helps in strategising investments and executing trades effectively.

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What is Wise?

Wise, formerly known as TransferWise, is a notable financial technology company recognised for its revolutionary approach to international money transfers. Established in 2011, it has redefined cross-border transactions by offering transparent, affordable, and highly efficient transfer services.

The platform stands out for its simple interface and real-time exchange rates, ensuring customers get the best value for their transfers. The company's commitment to transparent pricing, without hidden fees, has earned it widespread acclaim and a growing global customer base. With its headquarters in London, Wise continues to expand its services, fostering financial inclusivity and connectivity on a global scale.

Wise Mobile Banking — Wise mobile banking app.

Final Thoughts

In conclusion, while Wise Bank does not directly support digital asset investments, it enables seamless fund transfers to regulated exchanges for digital asset trading. We recommend eToro, a platform compliant with the FCA and other regulators, offering a secure environment for cryptocurrency transactions. With its vast array of over 3,000 digital assets, competitive fee structure, and support for multiple currencies, eToro is an ideal choice for Wise users looking to explore the cryptocurrency market.

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