Summary: Sainsbuys Bank and Sainsburys Online Banking do not offer cryptocurrency services that enable their customers to buy or sell Bitcoin, Ethereum, and other assets.

Ulster account holders will need to sign up to a licensed trading platform in Europe to deposit EUR or GBP to buy or sell crypto. We recommend eToro UK because they are the most trusted platform, having been licensed since 2008.

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Can I buy Crypto or Bitcoin with Sainsburys?

The Sainsburys Online banking platform does not support cryptocurrency infrastructure like digital asset wallets or trading. This means that customers will need to deposit GBP into a third-party exchange that is licensed and regulated by the Financial Conduct Authority (FCA).


Buying Crypto with Sainsburys Online

The easiest way to buy Crypto online with a Sainsburys account is with eToro UK. Their platform is licensed by the FCA and they offer fast and cheap GBP deposits from Sainsburys Bank. You can trade Crypto, Stocks, ETFs, Commodities, Bonds and more on their exchange.

Get started in minutes with this short guide:

Step 1: Sign up to the eToro UK trading platform.
Step 2:
Select the 'Deposit Funds' button at the bottom of your eToro dashboard.

Sainsburys Crypto

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

eToro and Sainsburys Bank

Step 4: Login to your Sainburys Online account and transfer GBP to the unique deposit details shown to you on the next screen. The image below is an example and does not represent your unique details.

Step 5: Navigate through the eToro trading platform and buy any of the 50 listed cryptocurrencies, or hundreds of other stocks and markets.


Sainsburys Cryptocurrency Policy

Sainsburys Bank is a crypto-friendly institution that allows its customers to deposit and withdraw GBP from a licensed digital asset trading platform. Their policies only state that customers may face problems if they are depositing funds into unregulated off-shore platforms like Binance or BitMex.

This is why we recommend that you stick with local trading platforms like eToro or Coinbase that have good compliance in the UK.

Visit eToro UK
Posted 
May 24, 2022
 in 
Crypto Banks
 category

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