Summary: Metro Bank does not offer the option to trade cryptocurrencies directly on its platform. However, customers can still use their Metro banking accounts and link to a multi-asset investing platform like eToro to buy digital assets such as Bitcoin (BTC) and Ethereum (ETH).
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Can you buy crypto with Metro Bank?
Yes, you can buy crypto with a Metro Bank bank account, but you need to connect to an FCA-licensed broker that offers cryptocurrencies. As mentioned above, this is because Metro Bank does not offer crypto trading directly through its online banking platform.
How to buy crypto with Metro Bank?
The best way to buy Bitcoin or any other cryptocurrency with a Metro Bank account in the UK is through a reputable broker like eToro, which is a 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 Metro Bank: 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 Metro 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.
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 Metro Bank
Metro Bank is a British retail and commercial bank founded by Anthony Thomson and Vernon Hill in 2010 and headquartered in London. At the time of its launch, it was the first new high-street bank in the United Kingdom in over 150 years. It offers a comprehensive selection of financial and banking products for both businesses and individuals.
Services offered by Metro Bank include:
- Personal banking: Checking and savings accounts, credit cards, mortgages, loans, overdrafts, pet insurance, and fixed rate cash ISAs (individual savings accounts);
- Business banking: Business checking and deposit accounts, small business insurance, loans, and overdrafts.
Metro Bank’s crypto policy
Metro Bank doesn’t provide direct access to cryptocurrencies but allows users to invest in them through exchanges like eToro. While the bank hasn’t officially stated its position on crypto or imposed limitations, it has cautioned customers about digital currency risks and how to identify scams on its online platform.
“If consumers follow our simple steps and make the appropriate checks before investing – like they should with any other investment opportunity – they can reduce the fraud risk, however the risks associated with any investments still exist.”
Adam Speakman, Head of Fraud and Investigations at Metro Bank
How to buy crypto safely
Cryptocurrencies are riskier than traditional assets, prone to scams and cybercrime. FCA-licensed brokers have AML procedures, but crypto assets lack UK regulation. Investors may lack protections like FSCS. To stay safe:
- Research your chosen cryptocurrency for understanding and risks;
- Use a secure device with a VPN to protect sensitive information;
- Choose a licensed exchange with a solid track record; check terms and reviews;
- Secure your account with two-factor authentication and a strong password;
- Use a crypto wallet (hot or cold) to protect from hackers;
- Only invest what you can afford to lose due to crypto market volatility;
- Monitor the market and stay aware of changes in your cryptocurrency’s price.
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 Metro Bank
Can you buy crypto with Metro Bank?
While Metro Bank doesn’t offer crypto trading directly through its own platform, customers can connect their accounts to an FCA-regulated broker that offers cryptocurrencies to buy digital assets.
Does Metro Bank allow crypto?
Yes, Metro Bank allows transfers to regulated investing platforms. Customers can connect their Metro Bank account to an FCA-licensed broker to buy crypto.
Is Metro Bank crypto-friendly?
While Metro Bank is not a crypto-friendly bank, customers can use their Metro Bank accounts to make deposits and/or withdraw funds from FCA-regulated investing platforms that offer trading and investment opportunities in various markets, including crypto.
How to buy crypto with Metro Bank?
You can buy crypto with Metro Bank by connecting your account to a licensed third-party trading platform that offers cryptocurrencies.