Can You Buy Crypto with MBNA Card?

Yes, MBNA card holders can buy cryptocurrencies with FCA-regulated exchanges that accept MBNA credit card deposits. With this method, investors can easily deposit GBP to buy, sell and trade Bitcoin and various other digital assets.

How to Buy Bitcoin and Crypto with MBNA Card

The safest and best way to invest in cryptocurrencies using your MBNA Card is via a licensed exchange such as eToro. This approach lets investors quickly deposit GBP from their MBNA  card to buy and sell over 3,000 crypto assets, stocks, ETFs and more in a trusted and regulated environment.

You can follow this straightforward 4-step guide to begin:

  1. Create a free account on eToro and complete the onboarding process.
  2. Select the 'Deposit Funds' button on the bottom left of your screen.
  3. Tap 'GBP' and Credit Card as your payment method, then input your MBNA card details.
  4. Complete the deposit and open the search bar to buy your desired token.
Buy Crypto MBNA Card

What are the Fees?

When investing in Bitcoin and other digital currencies using your MBNA Card, the fees will vary depending on your chosen platform. Key fees to consider include deposit fees, withdrawal fees, spreads, and trading fees.

We recommend using eToro to minimize fees for MBNA Card users, as the platform offers free GBP deposits and a competitive 1% spread on assets. This is cheaper than popular alternatives like Coinbase, which can charge over 1% in deposit fees and another 1.5% in spreads.

Is MBNA Crypto-Friendly?

MBNA embraces a crypto-friendly stance, albeit with certain restrictions to ensure customer safety. The popular credit card issuer allows for depositing funds exclusively into FCA-licensed exchanges, complying with the Financial Conduct Authority regulations in the UK. Nevertheless, MBNA Card strictly prohibits deposits into off-shore exchanges like Binance and Bybit to protect its cardholders' investments.

Bottom Line

In conclusion, MBNA Card allows users to invest in cryptocurrencies indirectly by utilizing UK-based FCA-licensed exchanges like eToro. By following a simple 4-step process, investors can deposit GBP from their MBNA accounts and access a wide range of assets with minimal fees. Although MBNA Card adopts a crypto-friendly approach, it prioritizes customer safety by adhering to FCA regulations and discouraging deposits into off-shore exchanges.