Summary: Paragon Bank enables its clients to enter the crypto world by authorising transactions to certified exchanges. We advocate for using platforms overseen by the FCA that accept British Pound (GBP) deposits. It's noteworthy to state that Paragon Bank doesn't directly offer cryptocurrency trading within its online banking interface, but it does allow users to move money from their accounts to trusted exchanges. 

Based on our comprehensive review, Kraken is the premier option for Paragon Bank clients, imposing no charges on GBP deposits. The platform presents an extensive range of over 200 cryptocurrencies for trading in both spot and futures markets, offering up to 5x leverage. In addition to crypto trading, Kraken provides staking options and an NFT marketplace.

Best Exchange for Paragon Bank - Kraken
Visit Site
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 Paragon Bank?

Certainly, Paragon Bank account holders have the option to buy Bitcoin and various other cryptocurrencies through trustworthy digital asset exchanges in the UK that comply with the Financial Conduct Authority (FCA) guidelines. By choosing an established crypto trading platform, you can effortlessly convert GBP from your Paragon Bank account or card into cryptocurrencies.

How to Buy Crypto with Paragon Bank

If you're interested in acquiring digital currencies through Paragon Bank, we suggest opting for a reliable exchange like Kraken. This platform offers seamless and fee-free GBP deposits from Paragon Bank accounts utilizing various payment options, including Faster Payments, bank transfers, debit cards, credit cards, and beyond. With Kraken, you have the opportunity to buy, trade, and stake an extensive range of cryptocurrencies at attractive rates.

Here's an easy guide to help you dive in:

  1. Create an Account: Begin by registering an account on Kraken. Make sure to complete all necessary identity verification processes for both individual and business accounts.
  2. Choose Currency: Once logged into your Kraken account, pick your desired deposit currency, for example, GBP.
  3. Deposit Funds: Select the payment method you prefer (Faster Payments, bank transfer, or Credit Card) and commence your deposit from your Paragon Bank account.
  4. Buy Cryptocurrency: Finally, select the cryptocurrency you aim to buy and finalise your transaction.
How to Buy Crypto with Paragon Bank.
How to Buy Crypto with Paragon Bank.

Paragon Bank Cryptocurrency Policy

Paragon Bank adopts an advanced approach to cryptocurrencies, seamlessly integrating innovation with a prudent outlook. Customers of Paragon Bank are provided the opportunity to delve into digital currency investments through platforms that adhere to the Financial Conduct Authority (FCA) guidelines in the UK. A noteworthy platform is Kraken, operating under Payward Ltd. in the UK, it is recognised as a certified FCA Cryptoasset Firm (FRN 928768), strictly in line with the Money Laundering Regulations.

By implementing this policy, Paragon Bank extends its profound knowledge to navigate customers through the intricacies and challenges typical of the traditional banking sector. It introduces paths to expand their investment perspectives with Bitcoin and an assorted range of digital assets. This initiative highlights Paragon Bank's commitment to fiscal advancement while preserving a commendable banking principle.

What is Paragon Bank?

Paragon Bank is a UK-based financial institution primarily offering savings and loan products, including mortgages. Established in the 1980s, Paragon initially gained prominence for its buy-to-let mortgages and later expanded its services to encompass a wider range of banking offerings. Over the decades, it has established a reputation for its specialist lending and is particularly known for providing financial solutions tailored to professional landlords. 

Apart from traditional banking, Paragon has made strides in embracing modern banking methods, consistently updating its digital platform to ensure a user-friendly experience for its customers. The bank emphasises transparency, security, and customer satisfaction, which have been pivotal in its growth and sustained relevance in the dynamic UK banking landscape.

Paragon Bank: Home Page.
Paragon Bank: Home Page.

Final Thoughts

To clarify, Paragon Bank does not provide cryptocurrency trading directly. However, they do permit customers to transfer funds to crypto exchanges that have secured licensing from the Financial Conduct Authority. Within the recognised platforms, Kraken stands out as an excellent pick. It offers no-cost GBP deposits, a variety of trading possibilities, competitive trading fees, an intuitive user interface, and full compliance with FCA standards.