Summary: Barclays enables clients to invest in Bitcoin, Ethereum, stablecoins and other digital assets thorough FCA-regulated exchanges that accept GBP deposits, as they do not directly engage in crypto trading.
In our evaluation, Kraken appears as a preferred choice for Barclays customers, with no fees on GBP deposits and a wide selection of over 200 cryptocurrencies to trade and stake. Located in London and operating under the FCA's regulations, Kraken supports instant transfer methods including Faster Payments, bank transfers, BACS, credit cards and more.
- Instant and free GBP deposits from Barclays Bank via Faster Payments, BACS, bank transfer, credit card and more.
- Trade and stake over 200 cryptocurrencies with industry-leading fees and tight price spreads.
- Founded in 2011 and is one of the most trusted global exchanges with over 9 million users.
Can I Buy Bitcoin with Barclays Bank?
Yes, as a client of Barclays Bank, you have the ability to purchase Bitcoin, along with a wide array of other digital currencies. You can carry out this acquisition through reputable UK-based cryptocurrency exchanges that adhere to regulations established by the Financial Conduct Authority (FCA). With Barclays, you can smoothly exchange your British Pounds (GBP) from your Barclays account or make use of your debit or credit cards for the transaction, ensuring compliance with local financial laws and the bank's specific policies
How to Buy Crypto with Barclays
If you are considering buying digital currencies through Barclays Bank, we recommend partnering with a well-regulated exchange like Kraken. Located in London and governed by the Financial Conduct Authority (FCA), Kraken enables instant and free GBP deposits from Barclays Bank accounts. Their platform enables buying, trading and staking of 200+ crypto assets with low fees and easy deposits from Faster Payments, bank transfers, credit cards and more.
Here's a simple guide to help you through the process:
- Create an Account: Start by signing up for an account on Kraken.
- Choose Currency: Once logged into the Kraken platform, select 'Add Funds' then the desired deposit currency, such as GBP.
- Deposit Funds: Pick your favoured payment method (Faster Payments, bank transfer, or Credit Card) and complete your deposit using your Barclays Bank account.
- Buy Cryptocurrency: Once the GBP is in your account, find the crypto you want to purchase and execute your trade.
Barclays Bank Cryptocurrency Policy
Barclays Bank takes a judicious approach to cryptocurrencies, blending innovation with prudence. Clients can explore digital assets through exchanges that follow UK Financial Conduct Authority (FCA) standards. Kraken, managed under Payward Ltd., is recognized as an FCA Cryptoasset Firm (FRN 928768), fully complying with Money Laundering Regulations.
Through this policy, Barclays enables customers to navigate traditional banking risks while capitalizing on opportunities to diversify with Bitcoin and other digital assets. This approach highlights Barclays' commitment to financial innovation and responsible banking practices, echoing the bank's reputation for stability and advancement in finance.
About Barclays Bank
Barclays Bank, headquartered in London, is a multinational financial services institution with deep roots dating back to the 17th century. Offering diverse services like personal and corporate banking and investment management, Barclays has been a financial leader for centuries.
However, it faced a significant crisis in 2012, known as the Libor scandal, when it was accused of manipulating a key global interest rate. Despite this controversy, Barclays continues to be a trusted banking entity, serving millions of customers worldwide with a commitment to innovation and customer service.
Final Thoughts
Barclays Bank offers its clients an avenue to venture into the world of digital assets, including Bitcoin, by partnering with FCA-regulated cryptocurrency exchanges. Kraken stands out as a top choice for Barclays customers, allowing easy and free GBP deposits and providing access to a vast array of over 200 cryptocurrencies.
Adhering to strict Money Laundering Regulations and the FCA's guidelines, Barclays' collaboration with platforms like Kraken highlights the bank's dedication to innovation, while ensuring clients' safety and compliance with financial laws. For Barclays customers eager to explore cryptocurrency, a seamless and compliant gateway awaits.
I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.
