Summary: Virgin Money doesn’t allow the option to purchase crypto directly through their services. Nevertheless, if you’re based in the UK, you can still manage to invest in Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies through a reputable third-party exchange like eToro.
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Can you buy crypto with Virgin Money?
As mentioned, you can’t purchase cryptocurrencies directly through Virgin Money, as they don’t offer such services on their online platform. Yet, there’s a catch. You can do it through a Financial Conduct Authority (FCA) licensed crypto exchange.
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.
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eToro USA is registered with FINRA for securities trading.
How to buy crypto with Virgin Money?
One of the most reliable ways to start trading crypto if you have a Virgin Money account is to go about it with the help of an exchange broker like eToro.
eToro is a popular cryptocurrency exchange platform that supports 60+ digital currencies and is one of the most popular services of its kind. Besides the number of cryptos you can deal with, it also offers special features like Copy Trading that allow you to replicate the moves of popular traders that are outperforming others.
Moreover, on eToro, you can also create customized watchlists and utilize advanced chart patterns and technical analysis tools.
How to buy crypto with Virgin Money: Step by step
To start trading crypto with Virgin Money and eToro, all you have to do is follow these four easy steps:
- Step 1: Create an account on eToro and verify it (personal or company);
- Step 2: Apply the amount of GBP that you’re looking to deposit;
- Step 3: Connect your Virgin Money account and deposit the fiat currency that you want;
- Step 4: Search for the cryptocurrency that you wish to purchase and finalize the 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.
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.
About Virgin Money
Virgin Money is a financial services company that provides a range of banking and insurance products to customers across the United Kingdom. With a rich history spanning several decades, it has become synonymous with excellence in customer service and a commitment to driving positive change in the industry.
As part of the wider Virgin Group, the company embraces the entrepreneurial spirit and seeks to challenge traditional banking norms, offering an innovative approach to financial services. These include managing current accounts, savings, mortgages, credit cards, and insurance options.
Virgin Money’s products include the following:
- Current accounts: Providing current accounts to its customers, offering a range of features and services for everyday banking needs;
- Credit cards: Credit cards that provide customers with a convenient and flexible way to make purchases, manage their finances, and earn rewards;
- Business accounts: Accounts tailored to the unique needs of businesses, offering financial solutions and banking services to support growth;
- Savings: Accounts designed to help individuals and businesses grow their savings, providing competitive interest rates and flexible options;
- Mortgages: Mortgage solutions with personalized support to help individuals and families achieve homeownership;
- Personal loans: Personal loans for various purposes, offering flexibility and support;
- Insurance: Comprehensive insurance products for home, car, and travel, providing peace of mind against unexpected events;
- Investments: A range of investment services, offering diverse options and expert guidance;
- Pensions: Helping individuals plan for retirement with pension solutions and investment options.
Virgin Money’s crypto policy
Currently, Virgin Money doesn’t directly support any services or products concerning cryptocurrency trading. However, it does allow its clients to venture into such investments by depositing their money to exchanges such as eToro. This means that you can transfer your money from your Virgin Money account to eToro and buy, sell, and trade digital assets like BTC or ETH without any issues.
Investing in Bitcoin and cryptocurrencies
It’s no secret that investing in Bitcoin and other cryptocurrencies carries certain risks. Nevertheless, it can also offer significant financial gains, depending on your risk tolerance and goals. In case you’re well aware of the risks but are okay with them, you should consider the following factors too:
- Potential high returns: Trading cryptocurrencies have shown the potential for significant returns in a short period, attracting investors during market growth;
- Decentralization and innovation: Cryptocurrencies are built on decentralized blockchain technology, driving innovation across industries and supporting the development of transformative applications;
- Accessibility and liquidity: Cryptocurrencies offer greater accessibility and can be traded 24/7, providing liquidity for easy conversion into other assets or currencies;
- Emerging asset class: Crypto represents an emerging industry, allowing investors to participate in its growth and evolution.
However, it’s important to note that cryptocurrencies, such as Bitcoin, are more volatile than traditional assets like stocks and bonds. This is why making informed decisions and trade responsibly is crucial to manage risk effectively.
Bitcoin price today
Currently, the price of Bitcoin is above 80,000 GBP. Still, the market is rather volatile, with cryptocurrencies going through several crashes since Bitcoin’s inception more than a decade ago.
How to buy crypto safely
Many people are still unsure about investing in cryptocurrencies due to the nature of the market. Namely, it’s rather new, and as such, it’s constantly showing signs of volatility. All this makes it a perfect target for scammers and cybercriminals. Therefore, to buy cryptocurrency safely, you should keep in mind the following tips:
- Choose a reputable exchange with strong security measures, such as 2FA, cold storage, and a solid industry track record;
- Set up a secure wallet, preferably a hardware wallet, to store crypto assets offline and protect private keys from online threats;
- Conduct thorough research on a cryptocurrency’s purpose, technology, team, and market trends to make informed investment decisions and avoid scams;
- Beware of phishing attempts by double-checking website URLs, using strong passwords, and never sharing private keys or sensitive information;
- Start with a small investment to familiarize yourself with the process and the specific cryptocurrency, gradually increasing your investment as you gain experience;
- Stay updated on cryptocurrency security practices by subscribing to reputable sources, following industry experts, and joining online communities to be aware of potential risks and best practices.
The bottom line
To conclude, Virgin Money doesn’t allow users to directly buy cryptocurrencies. You need to link your Virgin Money account to an FCA-regulated third-party crypto exchange like eToro. Still, it’s key to remember that investing in cryptocurrencies involves risks, and the market can be highly volatile, so only invest what you can afford to lose.
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 Virgin Money
How to buy crypto with Virgin Money?
To use money from your Virgin Money account to buy crypto, you must first connect it to a reliable crypto exchange platform like eToro.
Can you buy crypto with Virgin Money?
No. You can’t purchase cryptocurrencies with Virgin Money. However, you can bypass this by connecting your account to a brokerage platform like eToro.
What are Virgin Money’s views on crypto?
Virgin Money doesn’t provide any services to its users for purchasing cryptocurrencies, hence its crypto policy is negative.
What crypto exchanges does Virgin Money allow?
Virgin Money only approves of FCA-licensed crypto exchanges to buy, sell, and trade digital assets.
Is it safe to link my Virgin Money account to a crypto exchange?
Linking your bank account to a reputable, FCA-licensed cryptocurrency exchange is generally considered safe. However, it’s crucial to ensure that the exchange employs robust security measures, such as encryption and two-factor authentication, to protect your financial information.
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.
