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How to Buy Crypto with Paragon Bank

How to Buy Crypto with Paragon Bank

Sara White
Fact Checked
Sep 27, 2022

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.

If you are looking to get started quickly, we recommend the eToro UK platform because they offer fast and cheap deposits from Paragon Bank to trade over 8,000 assets.

Table of Contents

Platform Highlights

  • 80+ Cryptos and 8,000+ Stocks, ETFs & Commodities.
  • Low trading fees and fast GBP deposits via UK Bank Transfer.
  • Regulated and Licensed by the Financial Conduct Authority (FCA).
78% of retail CFD accounts lose money.

How to Buy Bitcoin or Crypto with Paragon Bank Online

The easiest way to invest in digital assets directly from Paragon Bank is through a Financial Conduct Authority (FCA) licensed trading platform. With this method, you simply transfer fiat from your Paragon Bank login to the broker to buy and sell cryptocurrencies online.

You can get started in 5 simple steps:

  • 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 Paragon Bank account and send GBP to the unique deposit details shown to you on the next screen.
  • 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.
Invest in crypto with a GBP deposit from Paragon Bank.

Paragon Bank Digital Asset 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 Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. Their FCA registration number is 447930.

Sara White

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

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