How to Buy Crypto With Starling Bank [2024]

Summary: We recommend eToro, a multi-asset investment platform, for investors who want to buy crypto with Starling Bank. Our evaluation of over ten trading platforms identified the exchange as the superior choice, offering over 80 digital assets, low trading fees, and regulation by the Financial Conduct Authority (FCA), making it a secure and cost-efficient option for Starling customers.

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in 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. Other fees apply. For more information, visit etoro.com/trading/fees.

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

• eToro USA is registered with FINRA for securities trading.

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Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Can you buy Bitcoin and crypto with Starling Bank? 

You can buy crypto with Starling Bank, but you need to connect to an FCA-licensed broker that offers cryptocurrencies, as Starling Bank does not offer cryptocurrency services directly through its online banking platform.

How to buy crypto with Starling Bank?

The best way to buy crypto with a Starling Bank account in the UK is through an reputable broker like eToro, which is a widely trusted multi-asset investing 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 Starling 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 Starling 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 Starling Bank

Starling Bank is a British digital challenger bank that provides personal and business accounts. As a mobile-only bank, Starling doesn’t have physical branches. It was founded in 2014 and quickly gained a reputation for its robust customer-oriented approach and clever features, such as in-app expense insights and spending round-ups for saving. 

It’s also worth mentioning that Starling Bank is the fourth-most-popular digital bank in Europe. According to our research published in March 2023, the challenger bank’s app has been downloaded almost over 1.56 million times in 2022, coming just after N26 with 1.8 million downloads and ranks before Monese with 1 million downloads. The top-ranking bank in the list, as well as the clear leader, is Revolut, with an impressive 17 million downloads, followed by Monzo, and lastly, bunq.

Starling Bank crypto policy

After FTX’s collapse sent crypto markets tumbling, in November 2022, Starling Bank decided to block all card payments to crypto merchants and restrict various outgoing and incoming crypto-related bank transfers. 

As a result, while Starling crypto users have never been able to trade cryptocurrencies directly from the bank’s platform, they’ll now also be unable to use their Starling account to deposit or withdraw funds from crypto exchanges that are focused only on digital assets. 

Should I invest in Bitcoin and crypto?

Deciding whether to invest in Bitcoin and other cryptocurrencies depends entirely on your tolerance for risk, personal financial goals, and investment style.

That said, let’s list some benefits of investing in cryptocurrencies:

• High returns potential: Cryptocurrencies can yield significant returns, particularly during rapid price increases;
• Diversification: Including cryptocurrencies in a portfolio may reduce risk due to their low correlation with traditional assets like stocks and bonds;
• Blockchain technology: Investing in cryptocurrencies supports the growth of innovative blockchain technology with wide-ranging applications;
• Accessibility: Cryptocurrencies facilitate faster, more cost-efficient international transfers, bypassing traditional banking intermediaries;

• Privacy: Cryptocurrencies offer privacy, linking transactions to cryptographic addresses rather than personal identities.

How to buy crypto safely

Although FCA-licensed crypto brokers are required to have anti-money laundering (AML) and terrorist financing procedures in place, crypto assets themselves are not regulated 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. 

Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Here are a few best practices:

• Educate yourself: Gain a solid understanding of cryptocurrencies and blockchain technology;
• Choose reputable exchanges: Only buy from well-known, FCA-regulated exchanges;
• Invest responsibly: Only invest money that you can afford to lose, given the market’s volatility;
• Diversify: Spread your risk by diversifying across various financial instruments, not just digital assets; 
• Stay informed: Keep up with the latest market trends and news in the crypto world;
• Understand the risks: Be aware of market volatility, regulatory changes, and security risks;
• Avoid scams: Be vigilant against scams and too-good-to-be-true offers;
• Implement strong security measures: Use two-factor authentication, a secure Internet connection (use a VPN), maintain strong, unique passwords and use reliable;
• 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;
• Adopt a long-term view: Consider a long-term strategy over short-term trading;

• Seek professional advice: Consult with a financial advisor for personalized guidance.

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 Starling Bank