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How to buy Crypto with Clydesdale Bank

How to buy Crypto with Clydesdale Bank

Alysha Jane
Fact Checked
Oct 3, 2022

Summary: Clydesdale Bank does not directly offer digital asset investing services through its online banking platform. This means that customers will need to sign up to an FCA-licensed exchange to buy and sell cryptocurrencies.

For investors looking to get started quickly, we recommend the eToro platform because they offer instant and free GBP transfers from Clydesdale online banking accounts.

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.

Buying Crypto on Clydesdale Bank

If you are looking to purchase cryptocurrencies directly on the Clydesdale banking platform, you are out of luck. However, there are safe alternative options you can use to buy crypto such as going through a secure cryptocurrency exchange like eToro. 

eToro is a regulated, centralised cryptocurrency investing platform that has acquired the appropriate licensing by the Financial Conduct Authority (FCA) to operate in the UK. It is the safest platform you can use in England and has been operating since 2007. 

In addition to buying cryptocurrencies on eToro, you can also buy stocks, currencies, ETFs, indices, currencies and much more. The platform can be customised for both serious, experienced traders and complete crypto newbies (beginners). 

Clydesdale Bank Home Page

How to Buy Cryptocurrencies with Clydesdale Bank

Buying cryptocurrencies such as Bitcoin, Ethereum and Tether is a short and simple process that should like up to 10 minutes in total. Follow the below steps to buy cryptocurrencies with your Clydesdale bank account. 

Step One: Create an account on eToro, verify your identity and answer the questions
Step Two:
Find ‘Deposit Funds’ on the home page and choose ‘Bank Transfer’ as the method, then enter the amount of GBP you want to deposit

Step Three: Copy eToro's bank details into your Clydesdale banking app and transfer the funds

Step Four: Once your funds have arrived in your eToro account, visit the home page and search for the cryptocurrency you wish to buy and select ‘Trade’

Buy Bitcoin on eToro

Fees to Invest with Clydesdale Bank

When buying cryptocurrencies on any cryptocurrency investing platform there are two fees you need to consider. The deposit fee and the trading fee.

  • Deposit Fee - You will be charged this fee when depositing GBP (or any FIAT currency) on the platform
  • Trading Fee - This fee is charged when you execute a trade, for example when you trade your GBP for Bitcoin

Lucky for eToro users, eToro does not charge any fees to deposit GBP onto the platform. Some exchanges like Coinbase can charge up to 4.5% in deposit fees. As for the trading fee, eToro charges a flat 1% fee which is average for an exchange. For a full breakdown of eToros fees, we recommend visiting their Fees Schedule.

Clydesdale Bank Crypto Policy

Clydesdale Bank is yet to make an official stance in regards to cryptocurrencies and digital assets. They have not made any negative or concerning comments about cryptocurrencies. There have been no reports of any Clydesdale users’ funds being frozen when transferring to a cryptocurrency investing platform.

About Clydesdale Bank

Clydesdale Bank is a commercial bank in Scotland. The bank is the third oldest bank in Scotland and fourth oldest bank in the United Kingdom. It was founded in 1838 in Glasgow. The bank has been part of National Australia Bank since 1987. Clydesdale Bank has around 80 branches across Scotland and more than 50 agencies throughout England. It also has operations in Ireland and Jersey.

Clydesdale was one of the first banks in the UK to offer a completely free current account, which it did in 2003. In 2021, ClydesdaleBank was voted Best Personal Banking Provider at the Moneyfacts Awards. The bank is also a member of the Faster Payments Service.

Alysha Jane

I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.

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