Summary: Lloyds Bank does not directly offer any products or services for customers to buy cryptocurrencies through its online banking platform. This means investors will need to sign up to an FCA-licensed exchange to buy, sell and trade digital assets.
Our top pick for investors in the UK is Uphold. They are a London-based & FCA-licensed exchange that offers instant and free GBP deposits to trade 250+ cryptocurrencies with zero fees. They are an award-winning platform that is trusted by over 10 million users in the UK.
Best Crypto Exchange for Lloyds Bank
Platform Highlights
- Trade and stake 250+ Cryptocurrencies with zero fees and instant deposits from Lloyds Bank.
- London-based & Regulated and Licensed by the Financial Conduct Authority (FCA).
- Trusted by over 10 million retail and institutional investors in the UK.
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Can I Buy Crypto with Lloyds Bank?
Yes, Lloyds Bank lets its customers transfer British Pounds (GBP) and various currencies from their bank accounts to FCA-licensed cryptocurrency exchanges in the UK. However, Lloyds Bank doesn't provide any direct products or services to help clients buy or sell digital assets right from their online banking portal. As a result, customers need to use a regulated external exchange to invest in digital assets with their Lloyds Bank accounts.
How to Buy Bitcoin and Crypto with Lloyds
As outlined above, the best way to buy Bitcoin and crypto with Lloyds Bank in the United Kingdom is through a regulated exchange like Uphold. Their platform is London-based and licensed by the FCA to offer instant and free GBP deposits from a Lloyds Bank account to trade over 250 crypto assets.
Follow the simple 4 step guide below to 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 Lloyds 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.
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Is Lloyds Bank Crypto Friendly?
Lloyds Banking Group has only banned cryptocurrency purchases from Lloyds Bank Credit Cards. Outside of this, there are no policies that prohibit account holders from buying, selling or trading digital assets from Financial Conduct Authority (FCA) regulated exchanges or brokers. This means that Lloyds Bank is a crypto-friendly financial institution that will allow you to freely deposit and withdraw fiat from licensed platform.
What is Lloyds Bank?
Lloyds Bank is a major UK financial institution, providing banking and financial services to personal, business and institutional customers. The bank has over 1,600 branches across the UK and offers a wide range of products and services including current accounts, savings accounts, mortgages, loans, credit cards and insurance.
Lloyds Bank was founded in Birmingham in 1765 and is now part of the Lloyds Banking Group, which also includes Halifax, Bank of Scotland and Scottish Widows. The group is one of the largest financial services providers in the UK with over 30 million customers.
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Final Thoughts
In conclusion, while Lloyds Bank does not offer any native services for buying and selling cryptocurrencies, it is still a crypto-friendly financial institution. Lloyds Bank account holders can transfer GBP or EUR from their bank to a Financial Conduct Authority (FCA) licensed exchange, such as Uphold, to buy and sell digital assets online. With fast and cheap GBP deposits and a wide range of assets to choose from, Uphold is the best option for Lloyds Bank customers who want to get started with cryptocurrency trading.
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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.
