How to buy Crypto and Bitcoin with Halifax Bank

Can I buy Crypto with Halifax Bank?

Halifax Bank does not directly offer cryptocurrency trading for their customers through their online banking platform, or at a bank branch. This is because they do not support digital asset infrastructure like cryptocurrency wallets and other custodial services.

This means that you will need to connect your bank account to a Financial Conduct Authority (FCA) regulated exchange in the United Kingdom. With this method, you will be able to deposit & withdraw GBP from your Halifax account onto a cryptocurrency exchange.

How to buy Crypto with Halifax Online

The easiest way to buy Bitcoin or Crypto from your Halifax Online account is through a licensed trading platform like eToro UK. They allow you to deposit GBP or Euros from your Halifax Bank account onto their platform quickly and with low fees.

To get started, follow this simple guide below:

Step 1: Create your eToro UK trading account and verify your identity.

Step 2: Select the 'Deposit Funds' button on the bottom of your screen.

Step 3: Select 'GBP' and 'Bank Transfer' as your preferred payment method.

Step 4: Login to your Halifax account and send GBP to the unique deposit details shown to you on the next screen. The image below is an example, your details may vary.

Step 5: Once your GBP is loaded, navigate through the eToro Dashboard to buy and sell any cryptocurrency, stock, ETF, or another asset on their platform.

Halifax Crypto Fees

The eToro trading platform only charges Halifax GBP deposits 0.5% - which is significantly cheaper than other platforms like Coinbase which charge up to 2.99%. They charge the same rate for Halifax debit card or credit card deposits and withdrawals too.

Does Halifax Intermediaries cover Crypto?

Halifax Intermediaries does not cover Crypto-assets as they are not considered financial instruments by the Financial Conduct Authority (FCA). Halifax Bank also doesn't offer any custodial services for digital assets like cryptocurrency wallets.

This means that you will need to find a different provider if you want Halifax to have custody of your digital assets like Bitcoin or Ethereum.