How to Buy Bitcoin and Crypto with Lloyds Bank

If you want to buy cryptocurrencies like Bitcoin with the funds in your Lloyds bank account, you have come to the right place. The best way to buy Bitcoin with Lloyds is through eToro UK. Users can deposit funds to eToro via Bank Transfer, Rapid Transfer, Credit/Debit Card, Neteller, Skrill, or Trustly. Follow the below steps to buy Bitcoin with Lloyds Bank.

  1. Register: Create an eToro account and complete the verification process.
  2. Fund Account: Tap ‘Deposit Funds’, choose a method and transfer money from your Lloyds Bank account.
  3. Find Token: In the search bar, find the crypto you wish to buy, then click ‘Trade’.
  4. Buy Crypto: Enter the amount you want to invest and select ‘Open Trade’.
How to Buy Bitcoin and Crypto with Lloyds Bank.
How to Buy Bitcoin and Crypto with Lloyds Bank.

What are the fees involved in buying crypto

eToro is widely regarded to be one of the most affordable digital asset exchanges in the world as it offers free fiat currency and crypto deposits. Additionally, withdrawals are capped at a $5 fee per transaction. The only cost you need to consider on eToro is the cryptocurrency trading fee, which is charged anytime you buy or sell a token, and it is a flat 1% fee.

eToro: Fees Schedule.
eToro: Fees Schedule.

Lloyds Bank Cryptocurrency Policy 

Lloyds bank doesn't have an official statement on where they stand regarding cryptocurrencies. However, since they permit customers to use their cards and bank accounts to purchase cryptos, it is safe to believe they support the idea of digital assets.

Further, there is nothing stated in Lloyds policies that would restrict its users from investing in digital assets. Lloyds customers should not be concerned about their funds being frozen when transferring to and from cryptocurrency exchanges.

About Lloyds Bank

Lloyds Bank is a major retail and commercial bank in the United Kingdom, with branches across England and Wales. It was established in Birmingham in 1765 and has a long history of mergers and acquisitions, including the merger with HBOS in 2009. Today, Lloyds Bank serves over 30 million customers through its retail banking division, as well as providing corporate and investment banking services. 

In 2019, Lloyds Banking Group reported a net income of £4.6 billion (approximately $5.9 billion). The bank continues to focus on improving efficiency and reducing costs in order to drive profit growth. In addition to traditional banking services, Lloyds Bank offers insurance, wealth management, and investment options for customers.