Crypto Banks
Buy Crypto with Lydia

Buy Crypto with Lydia

Adrian Graham
Fact Checked
Jan 16, 2023

Summary: The Lydia App in France currently offers investment services that allows users to buy and sell over 20 cryptocurrencies through its mobile banking platform. However, the fees to invest with Lydia are the most expensive in Europe, with fees and spreads as high as 2% per transaction.

As an alternative, we recommend a platform like Uphold that is available in France and offers over 250 cryptocurrencies to buy and stake with zero fees. Uphold is licensed & regulated and accepts instant Euro (EUR) deposits from Lydia Bank and all other French banks.

Table of Contents

Best Crypto Exchange Alternative to Lydia

Platform Highlights

  • Trade over 220 Cryptos with fast and cheap EUR deposits from any French or European Bank.
  • Regulated and Licensed by the Financial Conduct Authority (FCA), FinCEN and has audited Proof-of-Reserves for customer funds.
  • Trusted by over 10 million users in France and Europe.
Uphold - Best Lydia Alternative
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Audited Proof of Reserves
Audited Proof of Reserves

How to Buy Crypto with Lydia

The easiest and most cost-effective way to buy cryptocurrencies with Lydia is by transferring Euros (EUR) from their bank account to a regulated crypto exchange.  The top regulated exchange in France is Uphold, as they offer over 250 cryptocurrencies to buy and stake with zero fees and over 10 million users in the country.

You can get started in minutes with this simple guide:

  1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
  2. Connect Account: Select the currency you want deposit on the Uphold Platform (EUR + 30 more).
  3. Deposit Funds: Connect your French Bank account to quickly deposit your selected fiat currency.
  4. Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
Deposit Euros (EUR) from Lydia to buy Crypto.
Deposit Euros (EUR) from Lydia to buy Crypto.

Why are Lydia Fees so Expensive?

Lydia is expensive because they use an external crypto exchange to execute investments through their mobile banking app. This means that users get charged two fees, one by Lydia and another by the external broker (BitPanda) for each transaction.

Additionally, depending on the market liquidity and volatility, Lydia's pricing engine can add up to 2% spread between the buy and sell price of a cryptocurrency. This means that users buying cryptocurrencies with Lydia may be paying more than they would if they used a regulated crypto exchange like Uphold.

What is Lydia App?

Lydia App is a mobile app that allows people to manage their finances and make payments in one place. Lydia’s user-friendly interface enables users to connect all of their bank accounts and cards, follow their expenses, invest in stocks & crypto, track their budget, pay friends and merchants, get cashback rewards and find discounts from local partners. Lydia also provides personalized recommendations on everything from budgeting and savings to insurance.

Lydia is available in France, Spain, the United Kingdom and Italy, with plans to expand globally soon.  Lydia is a secure and easy-to-use platform that enables its users to stay on top of their finances and make payments with just a few clicks. Lydia is free, fast and trusted by over 5 million people worldwide.

Lydia App
Lydia App.

Final Thoughts

Investing in crypto with Lydia is expensive, due to the two fees that users pay for each transaction.  As an alternative, we recommend a regulated exchange like Uphold where users can buy and stake over 250 cryptocurrencies with zero fees and instant Euro (EUR) deposits from Lydia Bank and other French banks.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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