The purchase of cryptocurrency is lawful, however as a bank we want to do all we can to protect our customers. Since February 2018, to keep you safe and secure and not expose you to more risky debt, we have restricted the use of our Credit and Charge Cards to purchase cryptocurrency. Two types of cover are relevant for companies that provide cryptocurrency storage and exchange services – crime and specie. Although there is some crossover cryptocurrency exchanges supporting fiat between the two types of cover, there are some key differences too. Unfortunately, as well as hacking into accounts, criminals have also resorted to more violent acts to obtain currency unlawfully. Once this is complete you simply need to select the cryptocurrency you wish to trade. I would suggest that you do some research and come up with a crypto strategy, or alternatively engage in copy trading with a platform like eToro.

• For example, they will allow you to buy Bitcoin by using the United States Dollar or Euro currency.
• A free deposit from a wire transfer might take five days to clear.
• Fiduciary services are included in the Savings account package and benefit the holder with lower fees and an additional layer of protection.
• Overall, regulated cryptocurrency exchanges like eToro are safer because they give you recourse if things go wrong.
• When considering commissions, looking for an exchange with low rates is essential.
• When it comes to institutional purchases of cryptocurrencies, crypto exchanges must be able to support large sums of fiat currency.
• However, as of 31 March 2022, all cryptocurrency exchanges need to be registered with the FCA in order to operate in the UK.

This convenience is offset a little by a confusing fee structure, which includes additional charges for making fiat payments. This makes ChangeNOW, while one of the most convenient places to buy cryptos, not the cheapest option around.

When could you end your crypto services?

For instance, fees for credit card purchases are usually higher than for a bank transfer. If you’re looking for a high-performance cryptocurrency exchange that has cheap fees, then Binance is a good option. It is the world’s largest crypto exchange by daily spot trading volume and is available to users in most jurisdictions, including the UK. After years of secure operations, Binance can be considered the safest platform. ChangeNOW has its native cryptocurrency known as NOW token, issued on Ethereum platform. It is offered as an incentive to access better services and products of ChangeNOW.

Bitpanda is an excellent choice for investors who would like to access a range of assets on an investment platform that includes cryptocurrency. If that’s not for you, then you could try the BlockFi Interest Account, where you can earn up to 9.5% APY on any funds you hold within the account.

Top Crypto Exchanges List

EToro is also perfect for small investors who want to take minimal risk in the market. With a minimum deposit of just $10, anyone can start trading on this platform and investing in some of the hottest cryptocurrencies and digital assets out there. What’s more, with one of the lowest trade requirements on the market today. You will also love that eToro has a wide range of payment options and makes it easy to fund your account in the currency of your choice.