Summary: Virgin Money allows customers to venture into the cryptocurrency world by enabling transfers to trustworthy digital asset platforms. It's important to note that Virgin Money does not directly provide crypto trading features through its interface but instead supports transactions to platforms supervised by the Financial Conduct Authority (FCA) in the UK.

From our detailed assessment of the top exchanges, we identified Kraken as the best choice for Virgin Money clients, incurring no charges on GBP deposits. Kraken offers an impressive range of over 200 cryptocurrencies for both trading and staking. Licensed by the FCA, it facilitates swift deposits through various methods, including Faster Payments, bank transfers, and credit or debit cards.

Best Exchange for Virgin Money - Kraken
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Kraken is a Financial Conduct Authority (FCA) licensed and regulated digital asset exchange that operates locally (FRN 928768).
Table of Contents

Can I Buy Bitcoin with Virgin Money?

Yes, Virgin Money customers can buy Bitcoin and various other digital currencies through trustworthy cryptocurrency exchanges in the UK. Selecting a platform overseen by the Financial Conduct Authority (FCA) is important for maintaining regulatory compliance. These exchanges allow you to swap your British Pounds (GBP) directly from your Virgin Money account or cards for digital assets. 

How to Buy Crypto with Virgin Money

If you want to purchase digital currencies via Virgin Money, we recommend using a regulated exchange such as Kraken. Overseen by the FCA, Kraken enables smooth and cost-free GBP deposits from Virgin Money accounts. This platform facilitates the acquisition, trading, and staking of a wide range of cryptocurrencies at low rates. You can deposit funds via Faster Payments, bank transfers, debit cards, credit cards, and other methods.

Follow this step-by-step guide to make start trading crypto with Virgin Money.

  1. Set Up an Account: Begin by registering for an account on Kraken. Ensure you finalise the required identity verification, be it as an individual or a business entity.
  2. Select Currency: After logging in to the Kraken interface, choose your desired deposit currency, for instance, GBP.
  3. Fund Your Account: Opt for your payment method (such as Faster Payments, bank transfer, or Credit Card) and complete the deposit from your Virgin Money account.
  4. Buy Cryptocurrency: The concluding step involves selecting the cryptocurrency you want to buy and validating your transaction.
How to Buy Crypto with Virgin Money.
How to Buy Crypto with Virgin Money.

Virgin Money Cryptocurrency Policy

Virgin Money upholds a measured stance on cryptocurrencies, seamlessly merging innovation with caution. The bank permits its customers to explore the world of digital assets via exchanges authorised by the Financial Conduct Authority (FCA) in the UK. A prime example of such a regulated platform is Kraken. It functions under the entity Payward Ltd., and holds a registration as an FCA Cryptoasset Firm (FRN 928768), abiding by the Money Laundering Regulations.

Through this approach, Virgin Money aids its clients in navigating the challenges linked to traditional banking spheres while also diversifying their investment horizons with Bitcoin and an extensive array of other digital currencies.

What is Virgin Money?

Virgin Money is a UK-based bank offering a range of financial services, including credit cards, savings, mortgages, and insurance. It is a subsidiary of the Virgin Group, which is owned by Sir Richard Branson. It was founded in 1995 and has since grown to become one of the leading financial service providers in the UK. The company is headquartered in Edinburgh, Scotland.

Virgin Money is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). This means that it is safe to use Virgin Money products and services. They offer a wide range of financial products and services to its customers. These include credit cards, savings accounts, mortgages, and insurance. The company also offers a range of business banking services.

Virgin Money Bank
Virgin Money: Home Page.

Final Thoughts 

To sum it up, Virgin Money offers a platform for its clients to explore the realm of cryptocurrencies, including Bitcoin. Although Virgin Money doesn't directly provide crypto trading facilities, it emphasises the importance of using FCA-regulated platforms, like Kraken, for handling digital currency trades. Kraken is renowned for its free GBP deposits, broad range of cryptocurrency selections and strict adherence to FCA guidelines.