How to Buy Crypto with Nationwide Bank

How to Buy Crypto with Nationwide Bank

Unlock the potential of crypto investing through Nationwide Bank. This guide covers fees, transaction methods, and how to pick an FCA-regulated platform.

Don’t invest unless you’re prepared to lose all the money you invest.

Summary: Nationwide Bank doesn't provide the option for direct cryptocurrency transactions through its website or mobile application. Nonetheless, its account holders can engage with the crypto world by transferring British Pounds to platforms accredited by the UK's Financial Conduct Authority (FCA).

In our evaluation, eToro is the best platform for those banking with Nationwide. Compliant with UK financial guidelines, eToro has earned a reputation for enabling seamless GBP deposits from all UK-based banks. The platform is also widely regarded for its extensive range of over 3,000 assets, encompassing not only cryptocurrencies but also stocks, ETFs, and commodities.

Top Platform for Nationwide Bank
5.0 out of 5.0 by Datawallet
eToro is the top platform for Nationwide Bank due to its FCA-regulated status, fast and affordable GBP deposits, and extensive selection of tradable cryptocurrencies, stocks, ETFs and other assets.
Licensing & Regulation
The FCA, CySEC and other Tier-1 Regulators.
Available Assets
70+ Cryptos and 3,000 other assets.
GBP Deposit Methods
Bank Transfer, Debit Card, Faster Payments and more.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Content Guide

Can I Buy Crypto with Nationwide?

Absolutely, you can acquire Bitcoin, Ethereum, and several stablecoins such as USDT and USDC using your Nationwide Bank account or debit card. The initial move is to register on a UK-based crypto exchange that supports transactions in British Pounds (GBP). Although Nationwide Bank doesn't directly facilitate cryptocurrency transactions, it offers a strong banking framework that enables you to securely invest in digital currencies via trusted external platforms.

How to Buy Crypto with Nationwide Bank

If you're interested in purchasing digital currencies via a Nationwide account, there are trustworthy and convenient options. We suggest eToro as a go-to platform, as it's regulated by the Financial Conduct Authority (FCA) and is renowned for its easy-to-navigate interface. eToro accepts funds in British Pounds (GBP) and works seamlessly with Nationwide Bank, enabling transactions via bank transfers and debit cards. The platform boasts an extensive range of assets, covering over 3,000 cryptocurrencies, stocks, ETFs, and more.

Here's a straightforward 4-step guide to kick-start your crypto investment journey:

  1. Create an account on eToro and go through all mandatory verification processes.
  2. Navigate to the 'Deposit' area, usually situated in the bottom left of your screen.
  3. Choose 'GBP' as your currency, select your preferred payment method, and initiate a transfer from your Nationwide Bank account.
  4. Finalise the deposit and employ the search function to locate and buy your selected cryptocurrency.
Buy Crypto with Nationwide Bank

What are the Fees?

If you're considering investing in Bitcoin or other digital assets using your Nationwide Bank account, it's essential to understand the fees you might incur. These can range from deposit and withdrawal charges to transaction fees and pricing spreads.

Among the platforms compatible with Nationwide, eToro is a cost-efficient choice. By facilitating Faster Payments, eToro offers a budget-friendly way to deposit British Pounds (GBP), an advantage that is especially valuable for customers. Additionally, the platform maintains competitive pricing with a 1% variable spread on crypto trades. This positions eToro as a more budget-friendly option compared to other platforms like Coinbase, where the spread fees can go above 2%.

Is Nationwide Bank Crypto-Friendly?

Nationwide Bank has a specific stance on dealing with cryptocurrency transactions. The bank does not allow deposits or purchases using credit cards for cryptocurrency investments. However, it does permit transactions via debit cards and bank transfers to platforms that are regulated by the UK's Financial Conduct Authority (FCA). This enables customers to make informed and compliant financial decisions in digital assets.

By enabling these transaction avenues while maintaining certain restrictions, Nationwide Bank allows its customers to engage in cryptocurrency investments while staying within the bounds of financial regulations. This makes Nationwide a viable choice for investors looking to expand their digital asset portfolios.

Nationwide Bank

Bottom Line

In conclusion, Nationwide Bank may not offer direct avenues for cryptocurrency investments, but it does create a reliable environment for diving into digital assets. The bank allows transactions via debit cards and bank transfers to FCA-regulated platforms, notably eToro. With competitive fees and an expansive range of financial products, eToro is our recommended platform for Nationwide Bank customers looking to enter the cryptocurrency market. This provides investors with a compliant and secure way to diversify their portfolios.

Frequently Asked Questions

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