Summary: Atom Bank does not offer native support for cryptocurrencies being purchased directly through its platform. Customers wishing to participate in the digital asset market must use a reputable, regulated trading platform. Fortunately, there are many exchanges licensed by the Financial Conduct Authority (FCA) in the UK to choose from.

According to our research of the most suitable trading platforms, eToro ranked as an outstanding option. eToro is registered with the FCA and gives traders access to a wide range of over 3,000 digital currencies, stocks, and ETFs. It provides fast deposits in British Pounds through bank transfers, debit cards, and Faster Payments, making it ideal for investors based in the United Kingdom.

Table of Contents

Can I Buy Bitcoin with Atom Bank?

Yes, Atom Bank allows customers to transfer GBP to approved cryptocurrency exchanges in the United Kingdom. After your transfer has been completed, you are free to purchase or trade a vast range of digital assets, including Bitcoin or Ethereum. It is important to note that Atom Bank does not offer a direct feature for digital currency trading. For secure transactions, we recommend using exchanges governed by the Financial Conduct Authority (FCA).

How to Buy Crypto with Atom Bank

Atom Bank account holders can buy Tether, Solana, and other digital assets quickly and safely through a cryptocurrency exchange. For this purpose, we suggest eToro due to its FCA registration, low investment fees, and extensive selection of over 3,000 cryptocurrencies, stocks, ETFs, and other financial instruments. It offers fast GBP deposits through FPS, bank transfers, debit cards, and more.

British investors can start trading tokens with Atom Bank by following this short guide:

  1. Sign Up: Create an eToro account and go through the identity verification procedure.
  2. Deposit Money: Click ‘Deposit Funds’, select GBP as your currency, and transfer money from your Atom Bank account.
  3. Find Token: Open the search function, find your desired asset, and tap ‘Trade’.
  4. Purchase Crypto: Type in the amount you want to invest and click ‘Open Trade’.
How to Buy Crypto with Atom Bank.
Buy Crypto with Atom Bank via eToro.

Atom Bank Cryptocurrency Policy

Atom Bank adopts a progressive stance on cryptocurrencies and permits its customers to explore digital currency investments on reputable platforms licensed by the FCA. Our preferred platform, eToro (UK) Ltd, is registered with the Financial Conduct Authority under Firm Reference Number 583263 and Company No. 07973792. Its head office is at One Canada Square, Canary Wharf, London E14 5AB.

Digital Asset Investing Fees

To execute trades and invest successfully, it is essential to understand fee structures when using an exchange. As a client of Atom Bank considering digital currencies investment, here is what you should know about the possible costs involved:

  • Trading Spreads: Fees associated with buying and selling assets. Spreads on eToro vary depending on the token being traded, they are typically less than 1%.
  • Deposit Fees: Users will pay a fee to deposit British pounds, the amount of which varies with the chosen payment method. According to our research, bank transfers and Faster Payments are the most cost-effective options, while debit and credit cards may charge more than 2% in fees.
  • Withdrawal Fees: The cost of withdrawing funds from cryptocurrencies can vary. On many platforms, for instance, withdrawing Bitcoin incurs a fixed fee of 0.0005 BTC.

eToro provides Atom Bank clients with a competitive fee structure and a diverse asset portfolio on its FCA-registered platform, greatly enhancing its position as the leading option for trading.

What is Atom Bank?

Atom Bank is known as the first bank tailored specifically for smartphone and tablet usage, devoid of any physical branches in the United Kingdom. Based in Durham, England, it became the first digital challenger bank to be awarded a full UK regulatory licence. Founded in July 2013 by Anthony Thomson, co-founder of Metro Bank, and Mark Mullen, formerly at the helm of First Direct, Atom's innovative model swiftly garnered attention. 

By October 2016, its services had expanded, offering mortgages, savings accounts, and business-focused secured loans. LinkedIn spotlighted Atom among the UK's top 25 startups In 2017, with Atom ranking second on Beauhurst's 2019 list of the top 50 UK fintech startups and scale-ups, notably being the sole representative from outside London in the top 20.

Atom Bank: Home Page.
Atom Bank: Home Page.

Final Thoughts

In conclusion, Atom Bank allows customers to transfer British pounds to FCA-registered exchanges in order to buy and trade crypto. We recommend using eToro due to its wide variety of cryptocurrencies, stocks, and ETFs, low fees, fast GBP deposits, and 24/7 customer support. Customers of Atom Bank who are interested in investing in cryptocurrencies will find that eToro is the safest option available as it’s regsitered with the Financial Conduct Authority.