Can You Buy Crypto with Metro Bank?
Metro Bank doesn't facilitate cryptocurrency trading through its online banking platform. However, customers can purchase digital assets by linking their Metro Bank account to an FCA-licensed crypto exchange in the UK. It's recommended to choose digital currency platforms with appropriate licensing and regulation for investment safety, rather than relying on off-shore options like Binance or KuCoin.
How to Buy Bitcoin and Crypto with Metro Bank
To invest in cryptocurrencies securely and conveniently using your Metro Bank account, we recommend an FCA-licensed and regulated broker like eToro. This method enables investors to efficiently deposit GBP from Metro Bank via bank transfer, Faster Payments, Metro Bank Card, debit card, credit card, and other options.
You can follow this simple 4-step guide to get started:
- Create a free account on eToro and complete the onboarding process.
- Select the 'Deposit Funds' button on the bottom left of your screen.
- Tap 'GBP' and your payment method, then send funds from Metrp Bank.
- Complete the deposit and open the search bar to buy your desired token.
What are the Fees to Buy Crypto?
When purchasing Bitcoin and other digital assets with your Metro Bank account, the fees you face will depend on the platform you choose. Investors should be mindful of fees such as deposit fees, withdrawal fees, spreads, and trading fees.
For Metro Bank account holders, we suggest using eToro to reduce fees, as the platform provides free GBP deposits and commission-free trading. The sole expense when buying digital assets on eToro is the spread, which is a modest 1%, rendering it more competitive than options like Coinbase, which charge over 2%.
Is Metro Bank Crypto-Friendly?
Yes, Metro Bank is considered crypto-friendly as they allow customers to transfer funds into Financial Conduct Authority (FCA) licensed platforms for cryptocurrency investment purposes. This indirect method of investing in cryptocurrencies provides Metro Bank customers with a convenient option to access the crypto market while also benefiting from the security and regulation offered by licensed platforms.
Bottom Line
In conclusion, while Metro Bank does not directly offer cryptocurrency trading, customers can securely invest in digital assets by connecting their accounts to an FCA-licensed exchange like eToro. Offering free GBP deposits, commission-free trading, and competitive fees, eToro is a convenient and cost-effective choice for Metro Bank customers. By choosing an FCA-regulated platform, investors can ensure the safety of their investments while still participating in the expanding crypto market.
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