Summary: The Bank of Ireland does not currently offer cryptocurrency investing services through its online banking platform. That said, the bank does allow its customers to withdraw money from their accounts to licensed & regulated digital asset exchanges in the UK & Europe.
Our top pick for investors in Ireland is Uphold. They are an FCA-licensed exchange that offers fast & cheap EUR or GBP deposits from the Bank of Ireland to trade 200+ cryptocurrencies with zero fees. The exchange is based in London, UK and has an audited proof-of-reserves highlighting that customer funds are always held 1:1.
- Trade 210+ Cryptos with Fast and Cheap EUR or GBP deposits from Bank of Ireland.
- Regulated in Europe and has audited Proof-of-Reserves for customer funds.
- Offers multiple asset classes including Crypto (and Crypto Staking), Stocks, ETFs, Metals, Currencies and more.
Can you Buy Crypto with Bank of Ireland?
Unfortunately the Bank of Ireland is yet to offer the purchasing of Bitcoin and other cryptocurrencies directly on their banking platform. All major banks in Ireland have not implemented this feature as the licensing and regulation required to sell cryptocurrencies are hard to obtain and completely different to traditional banking and finance.
How to Buy Bitcoin and Crypto with Bank of Ireland
As outlined above, the best way to acquire digital currencies in Ireland, it's best to use a reliable platform regulated by the Financial Conduct Authority. Based on our analysis, we recommend using Uphold who are FCA licensed and offer instant GBP & EUR deposits to trade over 250 cryptocurrencies with industry-leading fees.
You can follow the simple guide below to get started:
- Sign Up: Create an account on Uphold and complete your verification.
- Connect Account: Connect your Bank of Ireland account to Uphold by selecting the fiat currency you want to transfer on your dashboard.
- Deposit Funds: You can then select the 'connect bank' button to link any European Bank and deposit Euros, GBP and other fiat currencies.
- Buy Cryptocurrency: The final step is to find the cryptocurrency you want to buy and execute your trade.
Bank of Ireland Cryptocurrency Policy
Bank of Ireland does not currently have any banking policies that prohibit their customers from investing in cryptocurrencies or any digital assets. Meaning that you are safe to deposit and withdraw Euros into centralised cryptocurrency exchanges without your funds being frozen.
Is Crypto Investing Legal in Ireland?
Yes, cryptocurrencies are legal in Ireland. The Irish government has not placed any specific restrictions on the use of cryptocurrencies, although they are not considered legal tender. In general, cryptocurrencies are treated the same as other forms of property in Ireland, and transactions involving cryptocurrencies are subject to the same tax rules as other types of transactions. It is always a good idea to consult with a qualified legal professional if you have specific questions about the legality of cryptocurrencies in Ireland.
What is Bank of Ireland?
Bank of Ireland is one of the largest and oldest commercial banks in Ireland. Founded in 1783, it provides a wide range of financial services and products to individual, business, and corporate customers. These services include savings and current accounts, loans, mortgages, credit cards, insurance, wealth management, and investments. The bank has an extensive network of branches and ATMs throughout Ireland, as well as operations in the United Kingdom and other international locations. Bank of Ireland is listed on the Irish Stock Exchange and the London Stock Exchange, and it is regulated by the Central Bank of Ireland.
Final Thoughts
In conclusion, while the Bank of Ireland does not directly offer cryptocurrency investment options through its online banking platform, customers can still utilize their accounts to transfer funds to licensed and regulated digital asset exchanges like Uphold. Uphold, an FCA-licensed exchange based in London, allows fast and affordable EUR or GBP deposits from the Bank of Ireland for trading 200+ cryptocurrencies with zero fees.
As of now, major banks in Ireland have not implemented cryptocurrency trading options due to the distinct licensing and regulatory requirements. Nonetheless, Bank of Ireland customers can safely invest in digital assets, as the bank has no policies against it.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
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