Can You Buy Crypto with Starling Bank?

Starling Bank does not provide cryptocurrency trading or investing services on its online banking platform. However, customers can purchase digital assets by linking their Starling account to an FCA-licensed cryptocurrency platform in the UK. Based on our research of crypto regulations in the country, we recommend investors choose platforms with appropriate licensing and regulation rather than opting for off-shore alternatives such as Binance, which could pose risks.

How to Buy Bitcoin and Crypto with Starling Bank

The safest and most convenient way to invest in cryptocurrencies using your Starling Bank account is through a regulated exchange like eToro. This method lets investors quickly deposit GBP from Starling Bank via bank transfer, Faster Payments, Starling Card, debit card, credit card, and other available options. The recommended deposit method is bank transfer, which costs $0 on the eToro platform.

You can follow this simple 4-step guide to get started:

  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 your payment method, then send funds from Starling Bank.
  4. Complete the deposit and open the search bar to buy your desired token.
Buy Crypto Starling Bank

What are the Fees for Buying Crypto with Starling Bank?

When investing in Bitcoin and other digital currencies using your Starling Bank account, the fees will differ based on your selected platform. Essential fees to consider include deposit fees, withdrawal fees, spreads, and trading fees.

We recommend using eToro to keep fees low for Starling Bank customers, as the platform provides free GBP deposits and commission-free trading. The sole expense when buying digital currencies on eToro is the 1% spread, which is more competitive than other options like Coinbase or Kraken, which charge over 2%.

Is Starling Bank Crypto-Friendly?

Starling Bank adopts a crypto-friendly approach, albeit with some limitations for customer protection. The bank permits depositing funds solely into FCA-licensed exchanges, adhering to the Financial Conduct Authority regulations in the UK. However, Starling Bank strictly forbids deposits into off-shore exchanges such as Binance and Bybit to safeguard its customers' investments.

Bottom Line

In conclusion, Starling Bank does not provide direct cryptocurrency trading but supports investments through FCA-licensed UK-based crypto exchanges. We recommend eToro as the top choice for Starling Bank customers due to its regulatory compliance, affordable GBP deposits, and diverse range of assets across multiple asset classes.