How to Buy Crypto with Barclays Bank

Can I Buy Bitcoin with Barclays Bank?

Yes, Barclays customers can buy Bitcoin by transferring GBP to crypto platforms in the UK registered with the Financial Conduct Authority (FCA). Funding your exchange account is simple, with options like bank transfers, debit card payments, or Faster Payments. Following the deposit, clients can invest in various digital assets.

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How to Buy Crypto with Barclays Bank

Investing in cryptocurrencies with Barclays is simple when using regulated platforms in the UK. eToro is registered with the Financial Conduct Authority (FCA). It accepts GBP deposits from Barclays accounts through bank transfers and debit card payments. The platform provides access to over 6,000 digital currencies, stocks, and ETFs.

Here are the steps to get started from your Barclays account:

1. Account Setup: Register on eToro and complete the verification steps.
2. Choose Deposit Option: Click the 'Deposit Funds' button on the bottom left of the dashboard and select a payment method.
3. Fund Your Account: Choose 'GBP' and deposit funds from your Barclays account.‍
4. Invest in Cryptocurrency: Use eToro’s search tool to find and invest in your chosen cryptocurrency.

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What are the Fees?

If you’re buying crypto through an exchange with Barclays Bank, it's important to understand the fees involved. These typically include costs for depositing and withdrawing funds, plus making trades.

For Barclays users, eToro offers a competitive fee structure. Trading fees on eToro start at 1% for buying or selling crypto, much lower than other platforms like Coinbase, which charges upwards of 2%. 

It's also worth noting that withdrawal fees may vary depending on the asset you’re moving, so make sure to check those in advance to avoid unexpected costs.

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Barclays Bank Cryptocurrency Policy

Barclays Bank allows customers to send money to platforms registered with the Financial Conduct Authority (FCA). The FCA regulates exchanges and businesses under its anti-money laundering (AML) and counter-terrorism financing (CTF) rules.

eToro (UK) Ltd is registered with the FCA under Firm Reference Number 583263. The bank is committed to supporting innovation in the crypto space while maintaining strict adherence to UK regulations.

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About Barclays

Barclays Bank is a leading global financial institution based in the UK, with a history of over 300 years. Known for its wide range of financial services, it offers personal and corporate banking, wealth management, and investment solutions. 

The bank's products include the Barclays Blue Rewards, a loyalty program for personal banking customers, the Barclaycard credit cards, which offer competitive rewards and travel benefits, and Smart Investor, an online platform designed to invest in stocks and funds.

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Bottom Line

Barclays customers can purchase cryptocurrencies through FCA-registered exchanges like eToro. This platform supports 6,000 digital assets, stocks and ETFs for trading and accepts GBP deposits.

Before you begin investing, it's important to understand the fees associated with the platform to ensure they fit within your budget and trading objectives.