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How to Buy Crypto With Barclays [2024]

How to Buy Crypto With Barclays [2024]
Diana Paluteder

Summary: Barclays doesn’t allow customers to trade cryptocurrencies on its platform. However, investors in the UK are free to use their Barclays bank account to transfer GBP to a regulated third-party broker to buy digital assets such as Bitcoin (BTC) and Ethereum (ETH). To buy crypto with Barclays, we suggest using a reputable investment platform such as eToro

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Can you buy crypto with Barclays? 

You can buy crypto with Barclays, but you need to connect to an FCA-licensed cryptocurrency exchange. As mentioned above, this is because Barclays does not offer cryptocurrency services directly through its online banking platform.

How to buy crypto with Barclays?

The best way to buy Bitcoin or any other cryptocurrency with a Barclays online banking account in the UK is through a reputable 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 staking service, custom watchlist, as well as advanced charts and technical analysis tools. 

How to buy crypto with Barclays: 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 Barclays 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.

How to Buy Crypto with Barclays: eToro banner.
Crypto on eToro. Source:

About Barclays

Barclays is a multinational universal bank headquartered in London, United Kingdom. It is one of the world’s largest and most powerful banking institutions, with operations in over 40 countries and assets totaling around $1.3 trillion. Barclays UK incorporates British retail banking operations, consumer credit card business, wealth management business, and corporate banking for small-, medium-, and large-sized companies in the UK.

How to Buy Crypto with Barclays: Barclay's homepage.
Barclays’ homepage. Source:

Why Barclays?

The UK-based Barclays Bank is the largest in the UK regarding the number of customers. As of 2022, Barclays had the highest number of customers, with a total of 48 million worldwide, with HSBC coming second with 39 million customers, according to Statista.

However, it is worth noting Barclays isn’t the highest when it comes to customer satisfaction rates and that the winners in this category are Starling Bank, First Direct, as well as UK’s app-based digital-first bank, Monzo

How to Buy Crypto with Barclays: UK's largest banks chart.
UK’s largest banks considering the number of customers, as of 2022. Source:

Barclays services include: 

  • Personal banking: Checking accounts, savings accounts, credit cards, mortgages, loans, overdrafts, lines of credit, and life/home/tech/travel insurance;
  • Business banking: Business checking and savings accounts, business insurance, loans, overdrafts, lines of credit, and business tools, including invoice and accounting software;
  • Wealth management: Financial planning and advisory services, including cash ISAs (individual savings accounts) and fixed-rate savings bonds

Barclays crypto policy

The bank doesn’t currently offer any products or services related to cryptocurrencies, so you cannot buy crypto with Barclays directly. That said, Barclays crypto policy does allow customers to freely deposit and withdraw funds from FCA-regulated exchanges. Moreover, the bank 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 Bitcoin and crypto?

Investing in cryptocurrencies has the potential to bring significant wealth, but it also carries a high risk of losing all invested funds. Therefore, deciding whether to buy crypto with Barclays depends on your personal tolerance for risk, investment style, and financial goals.

Despite the risks involved, there are several advantages to investing in Bitcoin and crypto, such as:

  1. Growth potential: Since its inception in 2009, Bitcoin has shown remarkable growth and appreciation in value. Its limited supply attracts investors looking for price appreciation;
  2. Decentralization & privacy: Bitcoin utilizes a decentralized blockchain network, providing more freedom and reducing reliance on traditional financial systems.
  3. Hedge against inflation: Bitcoin’s limited supply and decentralized nature position it as a store of value. Some investors view it as a hedge against traditional fiat currencies and inflation.
  4. Diversification: Including Bitcoin in your investment portfolio can help spread risk through diversification. Bitcoin’s price movements have demonstrated a relatively low correlation with asset classes like stocks and bonds.
  5. Innovation: Cryptocurrencies are built on blockchain technology, which offers numerous potential applications beyond digital currencies. Investing in Bitcoin allows you to participate in this innovative growth.
  6. Accessibility: Bitcoin and other digital currencies offer more accessibility and cost-effectiveness for international fund transfers. Traditional wire transfer costs associated with fiat currencies are absent.

Remember, the value of Bitcoin or any other cryptocurrencies can fluctuate and are much more extremely volatile compared to traditional assets like stocks or bonds. It’s important to make informed decisions and never invest more than you can afford to lose.

Bitcoin price today

How to buy crypto safely

Crypto is still a relatively new and untested market, making it a much riskier investment than stocks. However, you can take steps to ensure you’re being careful when you buy crypto with Barclays. Let’s break down a few tips on what you should do when getting started 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 is licensed by the appropriate regulators 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. 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 about how to buy crypto with Barclays: 

How to buy crypto with Barclays?

You can buy crypto with Barclays by connecting your banking account to a third-party cryptocurrency exchange.

Can you buy crypto with Barclays?

While Barclays 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.

What is Barclays' crypto policy?

Barclays allows customers to use Barclays online banking accounts or services to buy, sell and trade digital assets through regulated exchanges. 

What crypto exchanges does Barclays allow?

Customers can connect their Barclays banking account to an FCA-licensed cryptocurrency broker to buy crypto. 

What is Barclays?

Barclays is a British bank that offers retail banking services to consumers and small businesses and corporate and investment banking services to larger businesses and institutions.

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