Summary: Barclays Bank lacks an integrated function for purchasing cryptocurrencies directly through its online banking interface. Individuals interested in entering the digital asset market should use regulated and trustworthy trading platforms. Finding an exchange overseen by the Financial Conduct Authority (FCA) in the UK is essential for asset security and regulatory compliance.
Our research has led us to the conclusion that eToro is an excellent choice for Barclays customers. As an FCA-registered platform, it offers a secure and compliant trading environment that is used by over 30 million registered clients. eToro gives users access to various assets, including over 3,000 digital currencies, stocks, commodities, and ETFs, all at affordable fees.
- A reputable trading platform founded in 2007, regulated and serving millions worldwide.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Instant GBP deposits from Barclays Bank via FPS, bank transfer and debit card.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Can I Buy Bitcoin with Barclays Bank?
Yes, Barclays Bank allows its clients to transfer GBP to authorised cryptocurrency platforms in the UK. You can buy or trade a wide range of digital assets, including Bitcoin after your transfer has been processed. However, it’s important to mention the bank does not provide a trading feature directly through its interface. To ensure transactional security, we advise using exchanges overseen by regulators like the Financial Conduct Authority (FCA).
How to Buy Crypto with Barclays Bank
Barclays customers can safely buy Ripple, Ethereum, and other digital currencies through regulated trading platforms. Our expert team has identified eToro as the best option, given its FCA registration and extensive selection of over 3,000 cryptocurrencies, stocks, ETFs, and other assets. The exchange supports instant GBP deposits through bank transfers, debit cards, FPS, and more.
Start your crypto investing journey by following these four steps:
- Setup Account: Create an eToro account and complete the identity verification steps.
- Choose Currency: Select "GBP" as your deposit currency after clicking on the "Deposit Funds" button.
- Add Funds: Choose one of the payment methods available and transfer money from your Barclays bank account.
- Purchase Token: Go to the search bar, find your desired asset, and finalise your transaction.
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Barclays Bank Cryptocurrency Policy
In keeping with its progressive stance on cryptocurrencies, Barclays promotes financial innovation while abiding by all applicable laws. The bank allows clients to investigate digital currency investments on trustworthy platforms. eToro is our recommended exchange as it is registered with the Financial Conduct Authority (FCA) under eToro (UK) Ltd, with Company No. 07973792. It has a registered office on the 24th floor, One Canada Square, Canary Wharf, London E14 5AB.
Digital Asset Investing Fees
For effective trade execution and investment, it is essential to understand the fee structure when buying or selling digital assets on exchanges. Here is what you need to know regarding the potential fees as a customer:
- Trading Spreads: These are the costs associated with purchasing and selling on the platform. eToro charges variable spreads, which are typically 1% or less for cryptocurrencies.
- Deposit Fees: Depending on the method used, users will be charged a fee to deposit GBP. According to our findings, bank transfers and Faster Payments are the most cost-effective, while debit and credit cards may cost more than 2%.
- Withdrawal Fees: The cost of withdrawing funds varies depending on the token. On most platforms, withdrawing Bitcoin incurs a fixed fee of 0.0005 BTC.
eToro offers an FCA-registered environment with a diverse asset portfolio and a competitive fee structure, making it a strong choice for Barclays customers.
What is Barclays Bank?
Barclays Bank is a British multinational investment bank and financial services company headquartered in London. Established in 1690, it is one of the oldest and most respected banking institutions in the world. With a global presence, the bank offers a wide range of services ranging from personal banking and credit cards to investment banking and wealth management.
Known for its innovative approach to banking, Barclays has been a leader in adopting new technologies to enhance customer experience. The bank has earned a reputation for stability and ethical business practices, making it a trusted name in the financial industry. Its commitment to sustainability and corporate social responsibility is also noteworthy, highlighting its holistic approach to doing business.
Final Thoughts
In conclusion, Barclays allows clients to invest in cryptocurrency by approving transfers to regulated exchanges. Our team has identified eToro as the best option as it supports thousands of assets spanning six categories, all of which can be traded in a secure environment overseen by the FCA. It boasts competitive fees, instant GBP deposits, live customer support and unique features like copy trading and a demo account.
I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.
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