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How to Buy Crypto with Paragon Bank

How to Buy Crypto with Paragon Bank

Sara White
Sara White
Fact Checked
Feb 20, 2023

Summary: Paragon Bank does not directly offer cryptocurrency trading through its online banking platform. That said, the only available method for Paragon account holders is to transfer fiat (GBP or Euros) from their account to a licensed exchange.

Based on our analysis of over 50 exchanges, we recommend the Uphold platform because they offer instant and free deposits from Paragon Bank to trade over 250 crypto assets. Uphold is a London-based exchange that is licensed and regulated by the Financial Conduct Authority (FCA) and is trusted by over 10 million users.

Table of Contents

Best Crypto Exchange in the UK

Platform Highlights

  • Trade 250+ Cryptos with fast Great British Pound (GBP) deposits from any UK Bank.
  • Regulated in the UK & Europe and has audited Proof-of-Reserves for customer funds.
  • Licensed by the Financial Conduct Authority & trusted by over 10 million investors.
Uphold - United Kingdom
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Audited Proof of Reserves
Audited Proof of Reserves

How to Buy Crypto with Paragon Bank Online

As outlined above, the easiest way to invest in digital assets directly from Paragon Bank is through a Financial Conduct Authority (FCA) licensed trading platform like Uphold. Uphold is one of the most secure cryptocurrency exchanges globally and accepts GBP deposits from Paragon via Google Pay, Apple Pay, Bank Transfer, SEPA, Credit or Debit Card.

Follow the below steps to get started.

  1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
  2. Connect Account: Select GBP as the fiat currency you want deposit on the Uphold.
  3. Deposit Funds: Connect your Paragon account to deposit your selected currency.‍
  4. Buy Crypto: Find the cryptocurrency you want to buy and execute your trade.
How to Buy Crypto with Paragon Bank Online.
How to Buy Crypto with Paragon Bank Online.

Paragon Bank Crypto Policy

Since Paragon Bank is a traditional financial institution, it does not have an explicit policy towards digital assets. However, we did find this statement buried in their online FAQ section: "Paragon Bank plc does not currently offer investment products or services that are directly linked to cryptocurrencies."

While this doesn't explicitly forbid account holders from using the bank to buy cryptocurrencies, it does suggest that Paragon is not too keen on the idea.

Paragon Bank for Personal and Business accounts.

About Paragon Bank UK

Paragon Bank is a UK-based financial institution that offers personal and business banking products and services. The company was founded in 1994 and has approximately £1.4 billion in assets under management (as of March 2020). Paragon Bank is authorised by the PRA and regulated by the FCA. Their FCA registration number is 447930.

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Final Thoughts

In conclusion, while Paragon Bank does not directly offer cryptocurrency trading, their account holders can still invest in digital assets through a licensed exchange like Uphold. Uphold is a reputable and regulated platform that allows for fast GBP deposits and offers a wide range of cryptocurrencies to trade. As with any investment, it's important to conduct thorough research and exercise caution when buying cryptocurrencies. Always remember to only invest what you can afford to lose, and seek professional financial advice if needed.

Post Tags

UK Banks
Centralized Exchanges
Digital Assets
Bitcoin

Sara White

I fell into crypto during the 2017 mania and have been around ever-since. I now write, research and publish my own reports on the digital asset ecosystem.

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