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How to Buy Bitcoin and Crypto With Freetrade [2024]

How to Buy Bitcoin and Crypto With Freetrade [2024]
Diana Paluteder

Summary: Freetrade does not offer cryptocurrency trading directly on its platform. Instead, investors in the UK will need to sign up with a third-party investment platform to buy, sell or trade digital assets like Bitcoin (BTC) and Ethereum (ETH). 

The safest and most cost-effective way to buy crypto with Freetrade is to sign up with a licensed crypto-friendly broker. After testing over ten other exchanges, we found the multi-asset investing platform eToro to be the best choice for Freetrade customers, as it is regulated by the Financial Conduct Authority (FCA), offers some of the lowest fees, has a wide selection of crypto coins, and is trusted by nearly 3 million active users.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
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 Freetrade? 

Unfortunately, you can’t buy, sell, or trade crypto on Freetrade directly. While you can gain indirect exposure to cryptocurrencies by investing in crypto-related stocks such as Coinbase (NASDAQ: COIN) or Roblox (NYSE: RBLX), to buy the underlying digital assets themselves, you will need to connect to an FCA-licensed cryptocurrency exchange. 

How to buy crypto with Freetrade?

An alternative broker to Freetrade that offers cryptocurrencies is eToro, which is an FCA-licensed and widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as Copy Trading (enables users to imitate top-performing crypto traders), a staking service, custom watchlist, as well as advanced charts and technical analysis tools.

How to buy crypto with Freetrade: 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 bank 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.
Crypto on eToro. Source: etoro.com

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
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.

About Freetrade

Freetrade is a UK-based fintech company that offers free and premium online trading services. The company was founded in 2016 and launched its iOS app in 2018, followed by an Android version in 2019. It has since grown to accommodate one million registered users.

Freetrade’s homepage. Source: freetrade.io

Products and services offered by Freetrade include: 

  • Investments: Stocks, OTC stocks, SPAC stocks, ETFs, REITs, investment trusts;
  • Services: Commission-free trading, fractional shares, pension savings accounts,
  • Educational content: Demo account, investment guides, market analysis, and news, as well as upcoming initial public offerings (IPOs). 

Freetrade’s crypto policy

Freetrade does not have cryptocurrency trading services, which means you cannot buy, sell or trade any individual crypto assets with Freetrade. 

Investors can, however, gain indirect exposure to cryptocurrencies through some of the financial instruments offered by Freetrade, such as crypto-related (mining/gaming/blockchain) stocks. For more information, dive into their comprehensive guide to crypto-stocks here

How to buy crypto safely

While cryptocurrencies can be a lucrative investment with astronomically high returns, their volatile nature makes them considerably riskier than traditional asset classes such as stocks or bonds. Additionally, the crypto market is rife with scams, frauds, and scandals, further emphasizing caution. 

Moreover, although FCA-licensed crypto brokers need to have anti-money laundering (AML) and terrorist financing procedures in place, crypto assets themselves are without regulation in the UK. In fact, with most cryptocurrencies, investors are unlikely to have access to protections from the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS) if something were to go wrong. 

Tips for starting out with crypto

Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Let’s look at 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. Instead, 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. Also, study the exchange’s user terms and agreements carefully to learn more about where they’ll keep your money and what happens to it if the business goes bankrupt;
  • 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. So, 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 about how to buy crypto with Freetrade: 

Does Freetrade have crypto?

Although Freetrade offers access to various financial assets, it does not provide access to crypto trading. 

How to buy crypto on Freetrade?

Customers at Freetrade can get indirect exposure to cryptocurrencies through crypto-related stocks. However, to buy the underlying cryptocurrencies themselves, investors must sign up with a regulated investing platform that offers cryptocurrencies. 

Can you buy crypto on Freetrade?

Although Freetrade provides some indirect exposure to cryptocurrencies, it doesn’t allow customers to buy individual cryptocurrencies.  

What is Freetrade crypto policy?

Though Freetrade doesn’t offer cryptocurrency trading directly, customers can gain indirect exposure to crypto assets through investment in crypto-related stocks. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
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.

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