Summary: Clydesdale Bank doesn't directly provide cryptocurrency investment products or services via its digital banking platform. Nevertheless, it permits customers to transfer British Pounds (GBP) from their bank accounts or credit cards to approved cryptocurrency exchanges for investment in this asset class.
Our top recommendation for investors in the UK is Uphold. Their platform facilitates rapid and cost-effective GBP deposits from Clydesdale Bank to trade and stake over 250 cryptocurrencies with zero fees and competitive spreads. Uphold is licensed and regulated in Europe, boasting over 10 million users across the continent.
- Trade 250+ Cryptos with Fast and Cheap GBP Deposits from Clydesdale Bank.
- Regulated in the UK & Europe and Offers Audited Proof-of-Reserves for Customer Funds.
- Offers Multiple Asset Classes including Crypto (and Crypto Staking), Stablecoins, Metals, and more.
Can I Buy Bitcoin with Clydesdale Bank?
Clydesdale Bank enables clients to transform Great British Pounds (GBP) into Bitcoin, Ethereum, and other cryptocurrencies. This is possible through alliances with UK-based, reliable cryptocurrency exchanges, following Financial Conduct Authority (FCA) rules. Clydesdale Bank advises customers interested in cryptocurrencies to use a FCA-regulated platform with a notable standing in the United Kingdom, facilitating smooth transactions via their Clydesdale accounts.
How to Buy Bitcoin and Crypto with Clydesdale Bank
As stated above, the fastest method to buy Bitcoin for Clydesdale Bank customers involves joining a secure and licensed crypto trading platform like Uphold. It is easy to deposit GBP to your Uphold account using bank transfer, credit/debit card, Apple Pay and Google Pay.
Here is a step-by-step guide to buying Bitcoin or crypto:
- Create your free account on Uphold UK and complete identity verification.
- Connect your Clydesdale Bank account to deposit funds.
- Go to ‘My Banks’ and enter the GBP amount you want to deposit.
- Find the cryptocurrency you want to buy and execute the trade.
Is Clydesdale Bank Crypto-Friendly?
Clydesdale Bank doesn't enforce banking rules that prevent its customers from purchasing or dealing in cryptocurrencies. As such, customers in the UK and beyond can reliably perform transactions associated with digital assets through their Clydesdale Bank accounts.
However, caution is recommended when transferring British Pounds (GBP) to international exchanges (like Binance or Coinbase), as Clydesdale Bank reserves the right to freeze funds that seem dubious. For a trustworthy and safe trading experience, it's advised to use platforms regulated by the Financial Conduct Authority (FCA) within the UK.
What Is Clydesdale Bank?
Clydesdale Bank is a Scottish commercial bank, established in Glasgow in 1838. It was one of the three Scottish 'clearing banks' capable of issuing its own banknotes, offering a range of financial products such as current and savings accounts, mortgages, and loans.
In 1987, National Australia Bank (NAB) acquired Clydesdale Bank, and in 2016, it became part of CYBG plc along with Yorkshire Bank. After acquiring Virgin Money Holdings in 2018, CYBG plc changed its name to Virgin Money UK in 2019. Clydesdale Bank operates under the Virgin Money UK brand but legally remains Clydesdale Bank PLC. Recognised for its high-quality customer service, the bank plays an instrumental role in personal and commercial finance within the United Kingdom.
Final Thoughts
In summary, Clydesdale Bank provides a safe platform for its customers to purchase and trade Bitcoin among other digital currencies, adhering to the Financial Conduct Authority (FCA) regulations. By employing a reputable exchange like Uphold, customers can easily deposit funds from their Clydesdale Bank accounts and participate in cryptocurrency trading.
While Clydesdale Bank maintains a positive approach towards cryptocurrencies, it advocates for customers to be cautious and utilize platforms overseen by the FCA, especially when transferring funds to foreign exchanges, to circumvent potential freezing of suspicious funds.
I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.
