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How to Buy Crypto With Metro Bank [2024]

How to Buy Crypto With Metro Bank [2024]
Diana Paluteder

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 that’s licensed by the Financial Conduct Authority (FCA) to buy digital assets such as Bitcoin (BTC) and Ethereum (ETH).

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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 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 an FCA-regulated 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 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.
Crypto on eToro. Source: etoro.com

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. 

Metro Bank’s homepage. Source: metrobankonline.co.uk

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.

As of 2022, the UK-based Metro Bank was in the top high street banks considering the number of customers, with a total of 2.6 million worldwide, ranking 7th in the list, coming after Virgin Money and Nationwide with 6.6 and 16.3 million customers accordingly, according to Statista.

On the other hand, Barclays ranks the highest and is the largest in the UK regarding the number of customers, with a total of 48 million customers.

UK’s largest banks considering the number of customers, as of 2022. Source: statista.com

It’s also worth noting that Metro Bank ranks in the top 10 regarding customer satisfaction rates, specifically in the 8th position, after leading Starling Bank, First Direct, UK’s digital-first bank Monzo, and Chase.

Metro Bank’s crypto policy

Metro Bank doesn’t provide direct access to cryptocurrencies but allows users to invest in them through FCA-regulated 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.

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