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How to buy Bitcoin with Co-Operative Bank

How to buy Bitcoin with Co-Operative Bank

Andrew Chen
Fact Checked
Sep 20, 2022

Summary: The best way to buy Cryptocurrencies like Bitcoin and Ethereum with a Co-Operative (coop) Bank account is by depositing GBP into an FCA-licensed exchange.

If you are looking to get started quickly, our team recommends using eToro as they offer free deposit methods and fast transaction speeds for Co-Operative Bank account holders.

Table of Contents

Platform Highlights

  • Fast and cheap GBP deposits from any UK Bank.
  • Licensed by the Financial Conduct Authority (FCA) and ESMA.
  • 80+ Cryptos and over 8,000 Stocks, ETFs & Commodities.
78% of retail CFD accounts lose money.

Can I buy Bitcoin with the Co-Operative Bank?

Similar to most major English Banks, the Co-Operative Bank regrettably does not support the option to purchase cryptocurrencies directly on their platform.

However, if you are looking to purchase Bitcoin and other cryptocurrencies using your Co-Operative Bank account, you are in luck. Co-Operative Bank account holders can now invest in crypto by going through a trusted and regulated cryptocurrency exchange in the United Kingdom like eToro.

How and Where to buy Bitcoin the Co-Operative Bank

If you want to buy Bitcoin with your Co-Operative Bank account, we recommend using one of the most trusted and secure cryptocurrency exchanges in the world, eToro. They offer free deposit methods for their English customers when depositing GBP.

Follow the below steps to get started on how to buy Bitcoin and Crypto using eToro with your Co-Operative Bank account.

  • Step One: Sign up to eToro and verify your details
  • Step Two: Find 'Deposit Funds' and deposit GBP from your Co-Operative Bank account
eToro Fund Account Page - Cooperative Bank
  • Step Three: You will be redirected to this page where you can find eToros bank details for wire transfer. Simply transfer the amount and it should reflect in your account within the day. However, it is pertinent to note that some bank transfers can take up to 4 business days to reflect in your eToro account.
eToro Bank Wire Transfer Details Page
  • Step Four: Once your funds have hit your account, simply type in 'Bitcoin' in the search bar, enter the amount of GBP you wish to invest and press 'Trade'
eToro buy Bitcoin Page

Once you execute your trade, the Bitcoin (or other Cryptocurrency) will be automatically stored in your eToro wallet.

Co-Operative Bank Crypto Policy

The Co-Operative Bank are yet to release an official statement on their cryptocurrency stance but have stated that all transactions going into Binance will not be approved. This is not because they're against cryptocurrencies, this is simply because they wish to protect their users assets from dodgy exchanges like Binance.

If you are a Co-Operative Bank account holder, you have no reason to worry about investing in cryptocurrencies. Your funds will not get frozen and all crypto-related transactions are fine as long as you don't use a questionable exchange.

About Co-operative Bank

Co-operative Bank is a bank in the United Kingdom that is licensed by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Co-operative Bank offers banking services to personal, business and commercial customers.

Co-operative Bank

The company was founded in 1872 as the Manchester & Salford Equitable Pioneers Society. The Co-operative Bank has its headquarters in Manchester, United Kingdom. As of March 2022, the bank had around 700,000 personal customers and 48,000 business customers. The bank has approximately 4,000 employees.

Andrew Chen

Former Bitcoin Maximalist turned multi-chain enjoyer. I hunt down the best yields across AVAX, Solana, Fantom and other networks.

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