Summary: Nationwide doesn’t offer crypto trading directly on its platform. Instead, UK investors will have to use an online crypto exchange or a regulated investment platform to buy digital assets like Bitcoin (BTC) and Ethereum (ETH) by depositing GBP from their Nationwide bank account. The best way to buy crypto with Nationwide is by using a trusted multi-asset investment platform like eToro.
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Can you buy crypto with Nationwide?
You can buy crypto with Nationwide, but you need to connect to an FCA-licensed cryptocurrency exchange. As mentioned above, this is because Nationwide does not offer cryptocurrency services directly through its online banking platform.
How to buy crypto with Nationwide?
The best way to buy Bitcoin or any other cryptocurrency with a Nationwide online banking account in the UK is through a renowned broker like eToro, which is a licensed and widely trusted digital asset platform with over 70 cryptocurrencies and unique features such as “Copy Trading,” which enables users to copy top-performing crypto traders, in addition to a custom watchlist, as well as advanced charts and technical analysis tools.
How to buy crypto with Nationwide: Step-by-Step
You can get started in minutes with four simple steps:
- Step 1: Create an account on eToro and complete your verification (personal or company);
- Step 2: Enter the GBP amount you want to deposit on the eToro platform;
- Step 3: Connect your Nationwide account to deposit your selected fiat currency;
- Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.
Disclaimer: 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.
About Nationwide
Nationwide Building Society, commonly known as Nationwide, is a mutual financial institution headquartered in Swindon, England. It is the largest building society in the world, with over 16 million members and assets totaling over £270 billion, delivering a customer-focused approach and commitment to ethical business practices.
Services offered by Nationwide include:
- Personal banking: Checking accounts, savings accounts, credit cards, mortgages, loans, overdrafts, and lines of credit;
- Business banking: Business savings accounts;
- Wealth management: Financial planning and investment services, including stocks and shares, as well as cash ISAs (individual savings accounts).
Nationwide’s crypto policy
Nationwide does not currently offer any products or services related to cryptocurrencies, so you cannot buy crypto through it directly. However, the bank does allow customers to safely deposit and withdraw funds from FCA-regulated exchanges. Moreover, Nationwide is committed to keeping its customers’ needs and best interests at the forefront and will continue reviewing its policy as the crypto space evolves.
Should I invest in crypto with Nationwide?
Cryptocurrencies have made people rich, but while they can offer staggering returns, losing all the money invested is also likely. Therefore, whether you should invest in Bitcoin and crypto depends entirely on your personal risk tolerance, investment style, and financial goals. If you understand the volatile nature of crypto, you also have improved odds of finding yourself with a hefty profit.
Even though investing in Bitcoin and crypto comes with risks, it also has several upsides, such as:
- Growth potential: Bitcoin has demonstrated considerable potential and growth in value since its inception in 2009, with investors attracted to its price appreciation, considering its limited supply;
- Decentralization: Bitcoin is built on a decentralized blockchain network, which offers more freedom and less dependence on traditional financial systems and centralized regulatory bodies;
- Hedge against inflation: Bitcoin’s limited supply and decentralized nature make it store its value – some investors see it as a hedge against traditional fiat currencies and inflation;
- Diversification: Adding Bitcoin to a portfolio may help spread risk as a way of diversification. Bitcoin’s price movements have shown a relatively low correlation with asset classes like stocks and bonds;
- Innovation: Cryptocurrencies are built on blockchain technology, which offers many other potential use cases for various applications besides cryptocurrencies; buying Bitcoin can be a way to invest and participate in its growth;
- International transfers and accessibility: Bitcoin and other digital currencies are more accessible and cost-effective for transferring funds internationally, as there are no high costs usually associated with traditional wire transfers for fiat currencies charged by banks.
Remember, the value of Bitcoin or any other cryptocurrencies can fluctuate and are much more extremely volatile compared to more traditional assets. It’s important to make informed decisions and never invest more than you can afford to lose when you buy crypto with Nationwide.
Bitcoin price
How to buy crypto safely
While crypto can be a lucrative investment with astronomically high returns, its volatile nature makes it considerably riskier than stocks.
However, you can take steps to ensure you’re being careful when you buy crypto with Nationwide. Let’s break down a few tips on what you should do when starting out with digital assets and how to best protect yourself and your money:
- Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are;
- Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
- Choose a reputable exchange: Ensure the exchange has a license from an appropriate regulator in your country and has a solid track record;
- Secure your account: Use two-factor authentication and a strong password to protect your account;
- Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
- Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, take a look at our guide on investing mistakes to avoid;
- Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs:
How to buy crypto with Nationwide?
You can buy crypto with Nationwide by connecting your banking account to a third-party cryptocurrency exchange.
Can you buy crypto with Nationwide?
While Nationwide doesn’t offer crypto trading directly through its own platform, customers can connect their bank accounts to an FCA-regulated digital asset broker to invest in crypto.
Is Nationwide crypto-friendly?
Nationwide allows customers to use Nationwide online banking accounts or services to buy, sell and trade digital assets through regulated exchanges.
What crypto exchanges does Nationwide allow?
Customers can connect their Nationwide banking account to an FCA-licensed cryptocurrency broker to buy crypto.
