Summary: Co-Operative Bank lacks an integrated function for making direct cryptocurrency purchases. Our advice to people who have an interest in the dynamic world of digital assets is to use recognised trading platforms. The bank authorises transfers of British pounds to a number of exchanges that adhere to Financial Conduct Authority (FCA) regulatory standards.
Following a thorough investigation, we determined that eToro is the most reliable platform for Co-op customers. Registered with the FCA, it ensures users a secure trading environment and access to a diverse range of assets, including over 3,000 digital currencies, stocks, and ETFs, all at competitive prices. It supports fast GBP deposits through several payment methods, such as Faster Payments, debit cards, bank transfers and many more.
- Financial Conduct Authority (FCA) registered broker with over 30 million users.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Instant GBP deposits from Co-op Bank via FPS, bank transfer and credit card.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Can I Buy Bitcoin with Co-Op Bank?
Customers of the Co-Operative Bank can transfer GBP to reputable cryptocurrency exchanges in the United Kingdom. After the deposit has been processed, investors can start building their portfolios by purchasing or trading digital assets like Bitcoin and Arbitrum. Although Co-Op does not directly facilitate trading, it does endorse transactions to compliant platforms. We recommend using exchanges regulated by the Financial Conduct Authority (FCA).
How to Buy Crypto with Co-Operative Bank
Co-Operative Bank account holders should use a reliable exchange to buy, sell, and trade Ethereum, Mana, and other digital assets. Our preferred platform, eToro, is well suited for this purpose due to FCA approval and access to over 3,000 cryptos, stocks, ETFs, and other financial products. GBP deposits can be made via a variety of methods, including bank transfers, debit cards, and FPS, and are swiftly credited to your account.
Here's a quick guide to begin trading tokens with a Co-Op Bank account:
- Registration: Create an eToro account and complete the required identity verification steps.
- Select a currency: Choose "GBP" as your currency and a payment method, then click "Deposit Funds."
- Add Funds: Complete the transfer of funds from your Co-Operative Bank account.
- Purchase Crypto: Use the search bar to find your desired asset and finalise your transaction.
.webp)
Co-Operative Bank Cryptocurrency Policy
In keeping with its forward-thinking approach to cryptocurrencies, Co-Operative Bank promotes financial exploration while abiding by all applicable laws. Our recommended platform, eToro UK Ltd., is registered under company number 07973792. Its main office is at One Canada Square, Canary Wharf, London, E14 5AB. It is registered with the Financial Conduct Authority (FCA) under Firm Reference Number 583263.
Digital Asset Investing Fees
It is critical to understand the fee structure before executing digital asset transactions on exchanges. Here's a quick rundown of the potential costs you may encounter:
- Trading spreads: This includes the cost of purchasing and selling cryptocurrencies. eToro usually charges variable spreads, which are typically around 1%.
- Deposit Fees: The fee for making a GBP deposit varies depending on the method used. While debit and credit card fees may exceed 2%, bank transfers and Faster Payments are recommended as more cost-effective options.
- Withdrawal Fees: Depending on the type of cryptocurrency, different withdrawal fees apply. For Bitcoin withdrawals, most platforms impose a fixed fee of 0.0005 BTC.
Co-Operative Bank customers on a tight budget can take advantage of eToro's competitive fee structure and broad range of asset classes while adhering to FCA regulations.
What is Co-Operative Bank?
Co-Operative Bank is a prominent British retail and commercial bank. It was created in 1872 as a result of Friedrich Wilhelm Raiffeisen's proposed cooperative model. At first, it aimed to essentially give farmers financial loans. The bank has always been at the forefront of promoting moral causes and was the first bank to introduce a customer-led ethical policy in 1997.
It offers a wide range of services, such as loans, mortgages, and credit cards, and is a well-known provider of accounts for both personal and business customers. It currently boasts around 4.1 million customers and comprises more than 88 branches nationwide. Sustained growth and adherence to its founding principles promote the bank’s image as a hallmark of ethical banking in the modern era.
.webp)
Final Thoughts
In conclusion, Co-Operative Bank offers its clients simple access to the world of digital assets. By authorising their customers to transfer funds to FCA-registered platforms like eToro, users can quickly begin their trading journey in a safe and legal environment. It is ideally suited for investors in the UK thanks to its extensive range of cryptocurrencies, competitive fees, various GBP deposit options, copy trading services, and OTC desk.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.
