Summary: Nationwide Bank does not incorporate a direct feature for purchasing cryptocurrencies but supports transfers to exchanges that hold authorisation from the Financial Conduct Authority. It’s important to find a digital asset trading platform that accepts deposits in British Pounds to avoid conversion fees.

We have determined through extensive research that eToro is the best option for Nationwide Bank account holders. eToro is regulated by the FCA and provides a secure, legal and trusted trading environment that gives users access to a vast range of assets, including over 3,000 coins, stocks, and ETFs, at competitive fees. In addition, the exchange accepts deposits in GBP through multiple payment methods.

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Can I Buy Bitcoin with Nationwide Bank?

Certainly, Nationwide allows its customers to transfer GBP to approved cryptocurrency exchanges in the United Kingdom. Bitcoin is just one of many tokens that can be purchased or traded after a successful transfer has been processed. However, it should be noted that the bank does not offer a built-in feature for direct trading. Using an exchange regulated by the Financial Conduct Authority (FCA) will increase the safety of assets.

How to Buy Crypto with Nationwide

British investors wanting to buy cryptocurrency like Ethereum can securely transfer funds from Nationwide to an exchange. eToro is our top recommendation for this purpose due to its FCA oversight and extensive selection of over 3,000 digital currencies, stocks, ETFs, and other assets. It offers instant GBP deposits through bank transfer, FPS, credit card and more.

For UK customers, here are a few simple steps to get started:

  1. Sign Up: Create a free account on eToro with your email address and verify your identity.
  2. Connect Account: To make a deposit, click the "Deposit Funds" button and choose "GBP" as the currency.
  3. Add Funds: Select a suitable payment method and transfer funds from your Nationwide bank account.
  4. Purchase Crypto: After funding your account, search for the coin you wish to buy and complete the transaction.
How to Buy Crypto with Nationwide.
How to Buy Crypto with Nationwide.

Nationwide Bank Cryptocurrency Policy

Nationwide takes a progressive view towards decentralised finance that is forward-looking while adhering to all applicable legal requirements. Customers can investigate the investment potential of digital currencies on secure platforms. Our preferred exchange, eToro (UK) Ltd., is regulated by the Financial Conduct Authority (FCA) as Company No. 07973792, and its registered office can be found on the 24th floor of One Canada Square, Canary Wharf, London E14 5AB.

Digital Asset Investing Fees

When using exchanges, it is essential to understand the fee structure for effective trade performance and investment. For users who are considering exploring cryptocurrency, the following is a rundown of potential fees you may face:

  • Trading Spreads: Costs involved in buying and selling assets. Variable spreads are required by eToro, which are typically 1% or less for cryptocurrency trades.
  • Deposit Fees: Depending on the method used, users might be charged a fee to deposit GBP. According to our research, bank transfers and Faster Payments are the most affordable.
  • Withdrawal fees: The withdrawal price varies depending on the token. For instance, most platforms charge a fixed fee of 0.0005 BTC when a user withdraws Bitcoin.

Due to its wide range of coins and competitive fee structure, eToro is a strong option for Nationwide customers looking for a low cost investing experience.

What is Nationwide Bank?

Nationwide is a major financial institution based in the UK, known for its status as the largest building society in the world. A mutual organisation with roots dating back to the 19th century, it is owned and operated by its members for the benefit of those members rather than external shareholders. Savings accounts, mortgages, personal loans, and insurance are just a few of the financial services and products on offer.

It’s is a leading financial institution known for its customer service and competitive rates. Its numerous branches combine face-to-face banking with digital platforms to make it accessible and convenient for its vast clients. A strong commitment to its members and an emphasis on ethical practices have made it a preferred choice for those seeking trusted banking solutions.

Nationwide Bank
Nationwide Bank.

Final Thoughts

To summarise, Nationwide Bank offers its customers an easy way into the digital asset market. By enabling GBP transactions to FCA-approved platforms such as eToro, the bank ensures that investors’ trading experience across digital currencies, stocks, and ETFs is safe and legal. Due to its industry-standard fees and support for GBP deposits, eToro is an excellent option for UK customers interested in venturing into the crypto world.