How to Buy Crypto with HSBC Bank
Author: Marco Vela - Fact-checked ✓
Summary: While HSBC Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party crypto trading platform.
There are plenty of UK crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
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As mentioned above, just like most UK banks, HSBC Bank doesn’t offer cryptocurrency trading directly, as setting up a cryptocurrency trading platform is quite complex and comes with regulations and extra requirements for the banks.
Luckily for us, there are plenty of crypto exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
Once signed up to an exchange (we’ll be using eToro for our example as it’s a widely trusted and global exchange), you can simply transfer funds from your bank account to the exchange, and trade it for crypto.
Table of Contents
How to buy crypto or bitcoin with HSBC Bank
There are only 4 steps involved, let’s get started!
1. Choose a cryptocurrency trading platform
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
You can, of course, use any trusted crypto exchange for this, the steps will be very similar for most exchanges.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy crypto
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with HSBC Bank.
About HSBC Bank
HSBC Holdings plc, a British multinational bank and financial services holding firm, is HSBC Holdings plc. With total equity of US$206.777 Billion and assets of US$2.958 TILLION, it is Europe's second-largest bank. HSBC's assets under custody were $10.8 trillion (AUC) and assets under administration (AUA) were $4.9 trillion (AUA). HSBC's origins can be traced back to a hong from British Hong Kong. In 1991, the Hongkong & Shanghai Banking Corporation established HSBC in London to act as a new group-holding company. The name of the company is derived from its initials. In Shanghai, the Hongkong and Shanghai Banking Corporation opened branches and was officially incorporated in 1866.
HSBC is present in 64 countries and territories throughout Africa, Asia, Oceania and North America. It serves around 40 million customers. It was the sixth-largest bank in terms of total assets and market capitalization as of 2020. According to Forbes magazine's composite measure, HSBC was the 40th largest public company in the world.
HSBC's business units are divided into three groups: Global Banking and Markets, Wealth and Personal Banking, and Commercial Banking. The bank announced in 2020 that it would combine its Retail Banking & Wealth Management and Global Private Banking to create Wealth & Personal Banking.
HSBC is a constituent both of the Hang Seng Index (the FTSE 100 Index) and has a dual primary listing at the Hong Kong Stock Exchange. It also has secondary listings on both the New York Stock Exchange and Bermuda Stock Exchange.
HSBC organizes its customer-facing activities in three business groups: Global Banking and Markets, Commercial Banking (CMB), Wealth and Personal Banking(WPB) [
HSBC offers financial services to small, medium and large-sized enterprises. This includes sole proprietors, partnerships and clubs, as well as publicly traded companies and incorporated businesses.
Noel Quinn, the chief executive officer for Commercial Banking at HSBC, was announced by the bank in December 2015. Simon Cooper is leaving the bank to pursue new opportunities.
Global Banking and Markets, HSBC's investment banking arm, is HSBC Global Banking and Markets. Global Banking provides financial products and investment banking services for corporate and institutional clients. This includes corporate banking, investment banking as well as financing products such capital markets, trade service, payments and cash management and leveraged acquisition finance. It also provides services in markets and securities, including equities and credit and rates, foreign currency, money market and securities services. Global Banking and Markets operates in over 60 countries and territories around the world and is a "emerging markets-led and finance-focused" company.
Wealth and Personal Banking allows customers to manage their finances and protect and grow their wealth. HSBC offers a complete range of financial services to more than 54 million customers around the world, including current and savings accounts as well as mortgage loans, car financing, insurance, credit card, loans, pensions, and investment options. Previously, Retail Banking and Wealth Management was known as Personal Financial Services. This renaming was announced at HSBC's 2011 Investor Day.
HSBC announced in 2020 that it would merge two of its business lines, Retail Banking and Wealth Management & Global Private Banking. This will create a new unit called Wealth and Personal Banking.
HSBC has decided to outsource processing work to low-cost countries in an effort to save money and reduce the cost of services provided in developed nations. These locations handle data processing and customer services, as well as internal software engineering at Pune, India, Gurgaon and Bangalore (India), Chennai and Hyderabad (India), Vishakhapatnam and Kolkata (India), Colombo and Sri Lanka respectively.
After seven years of sponsorship of Jaguar Racing Formula One, HSBC cut its relationship with motorsport when Red Bull bought Jaguar Racing from Ford. [235]
In the mid 2000s, HSBC began to focus on golf and became the title sponsor of many events, including the HSBC Women's World Championship, HSBC Women's Champions, Abu Dhabi HSBC Golf Championship and HSBC Golf Business Forum. In 2010, HSBC was announced as the 'Official Bank Partner' for the Open Championship. This five-year agreement was signed in 2010.
The International Rugby Board announced in October 2010 that they had signed a 5-year agreement with HSBC, which gave them the status of the World Sevens Series' first title sponsor. HSBC has paid more than $100 million to acquire the title naming rights for all tournaments. HSBC decided to sub-license all the naming rights for the tournaments except one, while keeping its sponsorship of the overall series as well as the Hong Kong Sevens. It also sponsors the Hong Kong Rugby Union, and the New South Wales Waratahs Super Rugby team. It sponsored the British & Irish Lions' 2009 and 2013 tours to South Africa.
Wimbledon Championships tennis tournament is sponsored by HSBC, which provides banking services on-site and renames the junior event the HSBC Road To Wimbledon National 14 and Under Challenge.
Other sponsorships by HSBC are primarily in the areas of education, health, and the environment. HSBC announced a partnership of $5 million with SOS Children in Future First.
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author Marco Vela
A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.