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How to Buy Crypto with Metro Bank

How to Buy Crypto with Metro Bank

Learn the steps to buy crypto with Metro Bank, accessing a secure, regulated market and broadening your investment portfolio effectively.

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.

Summary: Metro Bank does not offer in-house cryptocurrency trading options via its digital banking interface. However, Metro Bank account holders can invest in cryptocurrencies by leveraging trustworthy UK-based exchanges that are regulated by the Financial Conduct Authority (FCA), executing GBP transfers from their Metro Bank accounts, and making acquisitions on the chosen exchange platform.

After an assessment of 25 FCA-approved exchanges, eToro stands out as the top recommendation for Metro Bank customers. Being an FCA-regulated and secure platform, eToro enables quick and cost-effective GBP transfers directly from Metro Bank accounts. Additionally, it provides access to a rich selection of more than 3,000 various assets, including cryptocurrencies, stocks, ETFs, and more.

Top Platform for Metro Bank
5.0 out of 5.0 by Datawallet
eToro stands out as the best platform for Metro Bank customers due to its FCA registration, quick and cost-effective GBP transfer options, and a wide array of investment assets, ensuring a secure, affordable, and diverse trading experience in compliance with UK laws.
Licensing & Regulation
Financial Conduct Authority (FCA) in the UK.
Available Assets
70+ Cryptos and 3,000 other assets.
GBP Deposit Methods
Bank Transfer, Faster Payments, Debit Card and more.

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.

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Can I Buy Crypto with Metro Bank?

Yes, Metro Bank accounts can be used to purchase cryptocurrencies. This involves transferring GBP to a UK-based cryptocurrency exchange registered with the Financial Conduct Authority (FCA). Common payment methods include bank transfers, debit cards, and the Faster Payments Service. It is important to note, however, that Metro Bank does not provide direct cryptocurrency trading services. Therefore, selecting an FCA-regulated exchange is crucial to ensure secure, legally compliant transactions.

How to Buy Crypto with Metro Bank

Metro Bank customers interested in the cryptocurrency market can use eToro, a trading platform that is registered with the UK's Financial Conduct Authority (FCA). eToro accepts GBP deposits from Metro Bank accounts, offering transaction options, including bank and debit card transfers. The platform provides access to an extensive range of over 3,000 assets, such as various cryptocurrencies, stocks, and ETFs, suitable for different investment goals.

Here's the process to get started on eToro:

  1. Account Creation: Sign up on eToro and complete the verification steps for account security.
  2. Adding Funds: Go to eToro's 'Deposit' section, often in the bottom left corner. Add funds to your eToro account from here.
  3. Currency and Payment Selection: Select 'GBP' and pick a payment method linked to your Metro Bank account.
  4. Investing in Cryptocurrency: After your deposit is processed, use eToro's search feature to locate and invest in your chosen cryptocurrency.

What are the Fees?

Metro Bank clients delving into Bitcoin and other digital currencies should consider several fees. These include charges for depositing and withdrawing money, as well as transaction fees and spreads - the difference between buying and selling prices.

For Metro Bank customers, eToro is a cost-effective option. The platform supports convenient deposit methods in British Pounds, like Faster Payments and BACS, which align with Metro Bank accounts. Notably, eToro is recognized for its competitive trading costs. It employs a variable spread fee model, usually around 1%, which is often more favorable compared to platforms like Coinbase, where fees can exceed 2%.

Is Metro Bank Crypto-Friendly?

Metro Bank adopts a cautious yet accommodating approach to cryptocurrency investments. It permits its clients to move funds through different channels, such as debit cards and bank transfers, to engage with cryptocurrency exchanges. This particularly applies to platforms adhering to the UK's financial regulations, including those set by the Financial Conduct Authority (FCA).

Such a policy allows Metro Bank customers to venture into digital asset investments in a secure and regulated setting. The bank’s commitment to the FCA's stringent regulations offers a dependable pathway for investors looking to diversify their portfolios into cryptocurrencies, ensuring adherence to critical financial regulatory norms.

Bottom Line

In summary, Metro Bank supports its clients' ventures into cryptocurrencies by enabling transfers to FCA-regulated exchanges, without offering direct trading. eToro stands out as a reliable choice in the UK, well-suited for Metro Bank customers. It offers a wide range of assets and a competitive fee structure, providing a secure and regulated environment for those seeking to diversify their investment portfolios.

Frequently Asked Questions

Got More Questions? We've Got Answers.
A Guide to Commonly Asked FAQs.

Does Metro Bank support cryptocurrency trading?
Why does Metro Bank prefer FCA-licensed crypto exchanges?