Summary: Although HSBC Bank does not offer direct cryptocurrency purchases, customers interested in exploring the digital asset market are encouraged to do so through legitimate and regulated platforms. The bank facilitates the transfer of British pounds to exchanges licensed by the Financial Conduct Authority (FCA). 

Based on our findings, eToro is the best option for HSBC clients as it supports over 3,000 cryptocurrencies, stocks, and ETFs to trade with competitive prices. It is overseen by the FCA and provides a safe trading environment for investors in 150 countries, including the UK. eToro accepts deposits in GBP through multiple payment methods, and the funds are instantly credited to your account.

Table of Contents

Can I Buy Bitcoin with HSBC Bank?

Yes, HSBC Bank customers can transfer funds to FCA-approved cryptocurrency exchanges in the United Kingdom to swap them for Bitcoin and other digital assets. It’s important to mention HSBC does not offer a built-in feature for trading but allows users to send GBP to regulated investing platforms. We advise only conducting business on exchanges verified by authorities such as the Financial Conduct Authority (FCA).

How to Buy Crypto with HSBC

HSBC Bank customers can safely acquire Bitcoin, Ethereum, and other cryptocurrencies through licensed trading platforms. Our team recommends eToro as it is regulated by the Financial Conduct Authority (FCA) and offers access to a large selection of digital assets, stocks, ETFs, and commodities. The exchange accepts deposits in GBP and several other currencies via bank transfer, credit card, and more.

UK customers can begin by following these simple measures:

  1. Create Account: Open a free account on eToro and finish the verification requirements.
  2. Deposit Money: Click ‘Deposit Funds’, select ‘GBP’ as your fiat currency, and send money from HSBC.
  3. Select Asset: Navigate to the search bar, find your desired crypto, and tap the ‘Trade’ button.
  4. Complete Trade: Enter the amount you want to invest and click ‘Open Trade’.
How to Buy Crypto with HSBC.
How to Buy Crypto with HSBC.

HSBC Bank Cryptocurrency Policy

HSBC Bank's policy towards cryptocurrencies encourages financial innovation in alignment with all relevant regulations. It permits its customers to transfer funds to credible trading platforms. Under Company Reference Number 583263, our recommended exchange, eToro (UK) Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under Company No. 07973792 and operates from the 24th floor, One Canada Square, Canary Wharf, London E14 5AB. 

Digital Asset Investing Fees

Understanding the fees associated with buying or selling digital assets on exchanges is essential for effective trade execution and investment. As an HSBC Bank client new to using a trading platform, you should be aware of the following fees:

  • Trading spreads: These are the expenses incurred when buying and selling tokens. For coins like Solana, eToro typically charges variable spreads of 1% or less.
  • Deposit Fees: Depending on the method used, users may be charged a fee to deposit GBP. According to our research, bank transfers and Faster Payments are the cheapest options, while debit and credit cards can cost more than 2%.
  • Withdrawal Fees: The cost of fund withdrawals varies according to the cryptocurrency. For example, on most platforms, withdrawing Bitcoin incurs a fixed fee of 0.0005 BTC.

For HSBC Bank customers, eToro offers an FCA-regulated platform with a diverse asset portfolio and a competitive fee structure, making it a great choice for digital currency investing.

What is HSBC Bank?

HSBC Bank is a multinational banking and financial services organisation headquartered in London. It is one of the largest banking networks in the world, serving customers across both personal and corporate banking sectors. With a strong presence in 66 countries, HSBC's vast portfolio of services includes current and savings accounts, mortgage loans, wealth management, and more. 

At the core of its operations is an unwavering commitment to financial inclusion and sustainable growth. This is reflected in their numerous initiatives geared towards financial education and supporting sustainable global finance. HSBC's expansive digital platform also allows customers to manage money effortlessly, access key services, and guard against fraud. This commitment to robust digital banking solutions consistently puts it at the helm of modern banking innovation.

HSBC Banking.

Final Thoughts

To sum up, HSBC Bank makes it easier for customers to enter the digital asset market by allowing GBP transfers to FCA-licensed exchanges. Our team of experts has identified eToro as the best option as it supports a wide range of cryptocurrencies, stocks, and ETFs and accepts deposits in over 40 fiat currencies. Given its standard industry fees and global regulation, eToro is an excellent choice for HSBC customers worldwide.