How to Buy Crypto With TSB Bank [2024]

Summary: TSB doesn’t allow cryptocurrency trading directly on its platform. Hence, its customers will have to use a regulated third-party broker to buy crypto with TSB by transferring funds from their banking accounts. We suggest using a multi-asset investment platform like eToro instead.

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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.

Does TSB allow crypto? 

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

How to buy crypto with TSB?

The best way to buy Bitcoin or any other cryptocurrency with a TSB bank account in the UK is through a third-party 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 staking service, custom watchlist, as well as advanced charts and technical analysis tools. 

How to buy crypto with TSB: 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 TSB 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 TSB

TSB, formally known as Trustee Savings Bank, is a leading retail and commercial bank based in Edinburgh, England. TSB Bank operates an extensive network of 220 branches across England, Scotland, and Wales, offering a wide range of banking and financial services to personal, business, and corporate customers. 

Services offered by TSB include: 

• Personal banking: Checking accounts, savings accounts, credit cards, mortgages, loans, overdrafts, home and life insurance, as well as lines of credit;
• Business banking: Business checking and savings accounts, loans, overdrafts, and lines of credit;
• Wealth management: Financial planning and investment services, including cash ISAs (individual savings accounts) and fixed bonds.

TSB crypto policy

TSB doesn’t have an official crypto policy; however, TSB allows its customers to deposit and withdraw GBP into regulated brokers. The unofficial policy of most banks is that as long as you use an FCA-regulated online broker, they will not interfere with bank or card transfers made by their customers.

All in all, TSB doesn’t seem like the most crypto-friendly bank, as it doesn’t allow transfers to most of the crypto exchanges; however, the bank does it to protect its customers. The safest way to buy crypto with your TSB bank account is to use a popular investing broker like eToro.

Should I invest in crypto?

Buying crypto with TSB has the potential to bring significant wealth, but it also carries a high risk of losing all invested funds. Therefore, deciding whether to invest in Bitcoin and other cryptocurrencies 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 operates independently of centralized regulatory bodies like governments or banks. It 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.

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 when buying crypto with TSB.

Bitcoin price today

How to buy crypto safely

Digital assets are still the new kid on the investment block, and the market for these instruments is highly volatile. And while extreme volatility can lead to disproportionate gains, it can see inexperienced investors suffer immense losses.

However, there are steps crypto-enthusiasts can take to stay safe when buying crypto with TSB, such as:

• 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;
• 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, 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. 

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