Can you Buy Crypto with Barclays?

Yes, Barclays Bank customers in the UK have the opportunity to invest in digital currencies via a safe and compliant platform. By choosing a reliable, FCA-regulated crypto exchange in the United Kingdom, Barclays Bank account holders can convert GBP to acquire cryptocurrency assets. We recommend opting for a platform that abides by the Financial Conduct Authority regulations to guarantee the security of your Bitcoin and crypto assets.

How to Buy Bitcoin and Crypto with Barclays

As outlined above, the best way to buy Bitcoin and crypto assets with a Barclays Bank account is through an FCA-licensed exchange. With this method, investors can safely deposit GBP via Faster Payments, Bank Transfer, Debit Card, Credit Card and other methods to trade digital assets in a compliant and legal way.

Here is a simple 4-step guide to getting started with our recommended broker, eToro:

  1. Visit eToro to sign up and verify your identity.
  2. Select the 'Deposit Funds' button on the bottom left of your screen.
  3. Select GBP as your currency and your payment method (e.g Bank Transfer) and complete your transfer from Barclays Bank.
  4. Complete the deposit and use the funds credited to your account to invest in crypto.
Buy Crypto Barclays Bank

What are the Fees to Buy Crypto?

The fees to invest in digital assets with your Barclays Bank account will vary depending on the platform you choose. Generally speaking, the fees investors need to consider are deposit fees, withdrawal fees, spreads and trading fees.

We recommend that Barclays account holders use eToro to optimize and minimize their fees because they offer free GBP deposits and zero-fee trading. The only cost involved in buying digital assets with their platform is in the spread, which is a modest 1% and more competitive than popular alternatives like Coinbase which charge over 2%.

Is Barclays Bank Crypto-Friendly?

Barclays Bank demonstrates a crypto-friendly approach, but with specific restrictions in place to protect its customers. The bank allows investors to deposit funds only into FCA-licensed exchanges, ensuring compliance with the Financial Conduct Authority regulations within the United Kingdom. However, Barclays Bank imposes a strict prohibition on depositing funds into off-shore exchanges, such as Binance, to maintain the safety and security of its customers' investments.

Bottom Line

Barclays Bank offers its UK customers a secure and compliant means to invest in digital currencies through trusted, FCA-regulated exchanges. While the bank does not provide direct crypto trading on its platform, it ensures customer protection by restricting deposits to FCA-licensed exchanges only. eToro stands out as our recommended platform for Barclays account holders, offering competitive fees, a wide range of crypto assets, and a user-friendly experience.