Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

Virgin Money provides a secure avenue for transactions to regulated cryptocurrency exchanges. This reflects the bank’s dedication to offering trustworthy banking solutions for its customers. 

For individuals looking to broaden their investment portfolio, we recommend eToro. It is notable for its extensive selection of over 4,500 cryptocurrencies, commodities, ETFs, and shares, facilitating easy GBP deposits from Virgin Money accounts and debit cards.

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.
eToro United Kingdom
eToro United Kingdom

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating
9.8

Supported Assets

4,500 Cryptocurrencies, Stocks, ETFs and more.

Trading Fees

0% Fees and Variable Spread (1%).

Can I Invest in Crypto with Virgin Money?

Virgin Money allows its customers to venture into the cryptocurrency market by enabling the transfer of funds to digital currency investment platforms registered by the FCA, ensuring a safe investment environment. 

It's crucial to note that Virgin Money's digital banking services do not incorporate crypto wallets. For secure purchasing and management of digital currencies, using a UK-based exchange that complies with regulatory standards is recommended.

How to Buy Crypto with Virgin Money

Virgin Money streamlines the process of buying crypto by allowing fund transfers to FCA-registered exchanges, safeguarding the security of transactions. Platforms like eToro, known for their compliance with UK regulations, offer a reliable method for GBP deposits via bank transfers, the Faster Payments Service, and debit card transactions. 

  1. To start, set up and verify your eToro account using your email. 
  2. Proceed to 'Deposit Funds,' select your preferred payment method, and initiate a transfer from Virgin Money. 
  3. Go to the search feature to locate your chosen cryptocurrency and click 'Trade.' 
  4. Input the amount you wish to invest and finalise the transaction by selecting 'Open Trade.'
How to Buy Crypto with Virgin Money

Does Virgin Money Block Crypto Transactions?

Virgin Money does not obstruct transactions to regulated exchanges. It supports fund transfers to cryptocurrency investment platforms registered with the FCA, adapting to the dynamic nature of financial technologies. 

The bank encourages its clients to interact with platforms that comply with the UK's rigorous KYC and AML regulations as mandated by the Financial Conduct Authority (FCA). This underscores Virgin Money's commitment to the security and integrity of financial transactions within the cryptocurrency domain.

Digital Asset Investing Fees

Understanding the fee structure is essential when using digital asset platforms like eToro. Here’s a clear outline of what to expect with eToro’s fees:

  • Account Funding Fees: Loading your eToro account may incur fees, particularly for currency conversions to eToro’s main currency, with USD transfers being an exception. Deposits in currencies other than USD attract a 1.5% to 3% fee.
  • Withdrawal Charges: eToro sets a $5 fee for fiat money withdrawals. For digital currency withdrawals, the fees vary according to network demand.
  • Trading Expenses: Participating in trades on eToro includes a 1% fee and a variable spread for each asset.

Considering eToro’s tiered membership might benefit consistent traders or those with significant investments by offering reduced fees and personalised account management.

Closing Thoughts

In summary, Virgin Money's alignment with UK financial standards and its cooperation with platforms like eToro provide a secure gateway for clients interested in cryptocurrencies. While Virgin Money does not directly enable trading, it facilitates secure fund transfers to regulated exchanges, allowing investors to safely engage in the digital asset market within a regulated framework.

Author

Elena Boyaci is the proactive editor-in-chief of StacksOnChain, bringing her extensive journalism experience to the forefront. She spearheads a committed team, focusing on providing prompt and comprehensible updates on crypto and finance.

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