Buy Crypto In Minutes With Royal Bank of Scotland!
4 min to read
Summary: If you want to buy Bitcoin and crypto, we recommend using eToro as you can’t do it with the Royal Bank of Scotland (RBS). Bank transfers to eToro are free of charge with most banks, they provide beginner-friendly experiences and offer 1,000s of digital assets. eToro is further regulated by FCA in the United Kingdom making them safe to use for new cryptocurrency investors!
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Can I buy crypto or Bitcoin with RBS?
You can buy Bitcoin (BTC), Ethereum (ETH) or other cryptocurrencies via bank or credit card transfer to a regulated third-party exchange like eToro.
At the time of writing, it is not possible to access these type of products and services directly via the Royal Bank of Scotland.
How to buy crypto and Bitcoin with RBS?
The first step towards buying and selling cryptocurrencies is to sign up for a safe and regulated exchange such as eToro.
For users with a RBS account, we recommend signing up to eToro due to their user-friendly interface and 1,000s of digital assets.
Signing up is quick, easy and free of charge. After successfully signing up, you can easily connect your RBS bank account and initiate your first GBP deposit.
Deposits made via bank transfers (ACH) are free of charge, while transfers made via credit/debit cards incur a small fee.
Once the funds have been deposited into your eToro account, you can start buying and selling cryptocurrencies such as Bitcoin, Ethereum, and Solana, among others.
Signup in two minutes
1. Create Account: Signup and add your identity verification 2. Deposit Funds: Via your RBS account or credit/debit card 3. Start Buying: Once your deposit has arrived in your account
Does Royal Bank allow cryptocurrency?
The Royal Bank of Scotland does not interfere with customers that deposit funds on exchanges and brokers that are regulated in the United Kingdom.
Can I buy crypto with RBS credit card?
Customers of RBS are allowed to use their credit and debit cards to buy cryptocurrencies as long as they use exchanges that are regulated in the UK.
Does RBS work with Coinbase?
RBS does not work directly with Coinbase, but it does allow it's clients to use Coinbase's services as they are licensed and regulated.
Is Royal Bank of Scotland crypto friendly?
We would classify Royal Bank of Scotland as crypto friendly as long as you use FCA-regulated exchanges. Royal Bank of Scotland's cryptocurrency policy can be found on this page.
In short, RBS may restrict transfers or purchases in cases where unregulated exchanges are used. That’s why we recommend using FCA-regulated exchanges like eToro.
RBS Binance & Coinbase
At the time of writing, there are restrictions placed on Binance due to regulatory uncertainty within the UK. As outlined on RBS website,
We’ve taken steps to restrict payments to Binance until further notice because of an increase in cryptocurrency related scams and regulatory uncertainty around Binance in the UK. We’re also aware that Binance are currently not accepting some payments types. For more information about this please refer to Binance directly.
There is no restrictions to link your RBS account or card to regulated exchanges like eToro and Coinbase which are regulated in the UK by FCA.
It is a retail banking subsidiary of NatWest Bank with over 700 branches mainly based in Scotland. RBS has over 70,000 employees and offers financial services such as current accounts, savings, mortgages, credit cards, and investments.
When comparing the quality of services to other UK banks, we see that RBS has their work cut out for them.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal.
Mike is a passionate crypto enthusiast who bought his first Bitcoin in 2016. With a natural curiosity and a love for learning and tinkering, Mike is always trying out new DeFi applications. Mike excels at breaking down difficult concepts into easy-to-read guides for beginners.