How to Buy Bitcoin and Crypto with First Direct Bank (2023)

Summary: First Direct Bank provides an array of banking solutions but has not incorporated direct cryptocurrency transactions into its digital platform. Therefore, customers looking to delve into digital currency investment need to transfer British Pounds (GBP) from their First Direct Bank account to a certified crypto exchange.

We suggest considering Uphold, a regulated platform that welcomes immediate GBP deposits from First Direct Bank. With Uphold, users can explore over 250 different cryptocurrencies, all while enjoying the benefits of zero fees and competitive spreads.

Best Crypto Exchange for First Direct Bank

Platform Highlights

Trade 220+ Cryptos, Stocks, Fiat Currencies, Precious Metals and more from First Direct Bank.
Free and instant GBP deposits via Bank Transfer and SEPA.
Regulated and Licensed by the Financial Conduct Authority (FCA).

Audited Proof of Reserves

Table of Contents

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Can I Buy Crypto with First Direct Bank?

As of now, First Direct Bank in the UK does not facilitate cryptocurrency transactions, be it online, via their mobile app, or at their physical branches. If you're keen on exploring the world of crypto, you will have to sign up with a trustworthy, regulated cryptocurrency exchange in the UK. Such platforms allow investors to deposit British Pounds (GBP) from their First Direct accounts to purchase, sell, or trade cryptocurrencies, adhering to the legal regulations in the United Kingdom.

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How to Buy Bitcoin and Crypto with First Direct

To purchase Bitcoin or any other cryptocurrency with First Direct Bank, you will need to follow a few simple steps. Firstly, deposit GBP into a regulated cryptocurrency trading platform. We recommend using Uphold, London-based and FCA regulated exchange that offers instant GBP deposits from First Direct to trade 250+ cryptos with zero fees.

Here's a step-by-step guide to help you get started:

Sign Up: Create an account on Uphold and complete your verification (personal or company).
Connect Account: Select the currency you want deposit on the Uphold Platform (GBP + 30 more).
Deposit Funds: Connect your First Direct Bank account to quickly deposit your selected fiat currency.‍
Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.

Deposit GBP Instantly from First Direct Bank.

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First Direct Cryptocurrency Policy

First Direct Bank is a crypto-friendly financial institution in the United Kingdom. They do not have any policies that prohibits its customers from trading or engaging with the digital asset ecosystem. First Direct customers just need to avoid depositing GBP or EUR into off-shore exchanges that aren't licensed by the Financial Conduct Authority (FCA) in the UK.

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What is First Direct Bank?

First Direct Bank is a UK-based retail bank that operates primarily through telephone and internet. A division of HSBC Bank plc, it is headquartered in Leeds. Known for its superior customer service, First Direct provides 24/7 banking services including current accounts, savings accounts, credit cards, loans, mortgages, insurance, and investments.

Launched in 1989, it was among the pioneers of 'direct banking', operating without physical branches, and has since built a large customer base due to its focus on customer satisfaction and convenience.

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Final Thoughts

In conclusion, First Direct Bank is a crypto-friendly financial institution in the UK that does not offer any direct services for buying cryptocurrencies. The easiest way for First Direct customers to invest in digital assets is by depositing GBP into a FCA-licensed cryptocurrency exchange like Uphold. Uphold offers a wide range of cryptocurrencies, stocks, ETFs, and other assets with low fees, instant GBP deposits, and is regulated by the FCA. The fees to deposit GBP from First Direct to Uphold are completely free when using a bank transfer, making it a cost-effective option compared to other platforms.