Direct cryptocurrency services are not currently offered at Virgin Money. To buy crypto like Bitcoin or Ethereum, Virgin Money customers must utilize a third-party cryptocurrency platform regulated by the UK’s Financial Conduct Authority (FCA). As cryptocurrency experts, we have done the research and due diligence to determine that eToro is the best option for Virgin Money clients looking to buy crypto assets in a safe, regulated environment. By opening an account at eToro, users can securely connect their Virgin Money account, deposit British Pounds, and invest in cryptocurrencies with full regulatory oversight. This allows individuals to participate in the digital asset market while leveraging the banking services they receive from Virgin Money.
Why Choose eToro?
When looking for a cryptocurrency platform to link with your Virgin Money account, eToro stands out as a top choice for several reasons:
User-Friendly Platform – eToro offers an intuitive, easy-to-use trading interface making crypto accessible for beginners.
Industry Leader – As one of the largest trading platforms with over 30 million users, eToro is a proven, established industry leader.
Compliant & Regulated – eToro adheres to strict KYC and AML regulations in the UK and globally to provide a compliant, regulated trading environment.
Secure Infrastructure – eToro employs robust security safeguards including offline cold storage and data encryption to protect user assets and data.
Social Trading – eToro’s patented CopyTraderTM feature lets you automatically copy positions opened by top-performing expert traders on the platform.
Customer Support – Get 24/7 customer service for any questions or issues via live chat, email or phone support.
Diverse Assets – Beyond a wide range of cryptocurrencies, eToro also supports commodities, indices, stocks, and other traditional asset classes all in one place.
Can You Buy Crypto with Virgin Money?
No, Virgin Money does not currently allow customers to directly buy, sell or hold cryptocurrencies within Virgin Money accounts or services. The bank has no official cryptocurrency capabilities or offerings at this time.
For Virgin Money customers in Australia, another option to explore is linking your Virgin Money account to a platform like eToro to purchase cryptocurrencies in a regulated environment. Check out our guide “Buy Crypto with Macquarie Bank” for Australians looking to invest in digital assets.
Similarly, United States-based Virgin Money users can refer to our article “Buy Crypto with Truist Bank” for advice on investing in cryptocurrencies by connecting a compliant crypto exchange to your existing US bank account.
And if you are interested in both crypto trading and earning high-interest yields on savings, read our “Buy Crypto with GO2Bank” guide on linking these dual financial services.
Step-by-Step Guide: How to Buy Crypto With Virgin Money
While Virgin Money does not directly offer cryptocurrency transactions, customers can invest in Bitcoin, Ethereum and other major digital currencies by linking their Virgin Money account to a third-party exchange platform such as eToro.
Here is a step-by-step walkthrough:
Step 1) Create and Verify an eToro Account
Visit eToro.com and register for an account. Complete identity verification as required by eToro for compliance.
Step 2) Deposit GBP From Your Virgin Money Account
After account setup, deposit British Pounds into your eToro account via bank transfer from your Virgin Money account.
Step 3) Convert GBP to USD
Before buying cryptocurrencies, convert your GBP balance to USD, the common trading pair for crypto assets.
Step 4) Buy Cryptocurrencies
Use the USD balance in your eToro account to invest in popular crypto assets like BTC, ETH, XRP and more.
Step 5) Manage Portfolio
Monitor and manage your crypto investments through the eToro dashboard. Set up price alerts, add to positions, and withdraw funds.
That’s it! Though the process differs slightly from making direct crypto purchases through a bank, linking your Virgin Money account to a regulated platform like eToro allows seamless access to major cryptocurrency investments.
About Virgin Money
Virgin Money is a leading UK digital bank that offers customers financial products including bank accounts, credit cards, mortgages, insurance, pensions and more. Virgin Money strives to make financially management easier for its customers while also offering perks and intrinsic value. Though Virgin Money does not directly offer cryptocurrency services at this time, they allow account holders to transfer funds to regulated crypto exchanges.
Virgin Money’s Stance on Crypto
As of early 2024, Virgin Money has no official cryptocurrency capabilities or services. The bank neither supports direct customer purchases of digital assets nor facilitates crypto transactions. Virgin Money has made no announcements regarding plans to provide crypto trading or custodial services. This contrasts with competitors like Revolut, who offer cryptocurrency exposure. That said, Virgin Money account holders can still invest in Bitcoin, Ethereum and other major cryptocurrencies through regulated exchange platforms and asset brokers that Virgin Money permits money transfers to, like eToro.
What if Virgin Money is Not Crypto Friendly?
Open Account at Crypto-Friendly Bank
Some banks like Revolut directly integrate cryptocurrency wallets and trading services. Opening an account at one of these “crypto banks” can provide more flexibility.
Use Regulated Crypto Platform
In lieu of a crypto-friendly bank, utilize regulated & reputable exchange platforms. With proper oversight, these brokers allow crypto purchases via bank transfer.
Conclusion
While direct crypto buying through Virgin Money is not yet possible, customers can still securely invest in Bitcoin, Ethereum and other major digital assets. By linking their Virgin Money accounts to regulated cryptocurrency platforms such as eToro, individuals gain access to the innovative cryptocurrency market with oversight from financial authorities. As global adoption of digital currencies accelerates, Virgin Money may one day integrate crypto services – but in the meantime, reliable exchange platforms bridge the gap.
FAQs
Can I buy crypto directly with Virgin Money?
No, Virgin Money does not currently allow customers to directly purchase cryptocurrencies within Virgin Money accounts or banking services.
What cryptocurrencies can I buy through Virgin Money?
As Virgin Money does not offer crypto trading, you cannot directly buy cryptos with them. However, by linking your Virgin Money account to a platform like eToro, you can trade major cryptocurrencies like Bitcoin, Ethereum, Litecoin and more.
Is buying crypto with Virgin Money safe?
While Virgin Money itself does not sell cryptocurrencies, connecting your Virgin Money account to a regulated, compliant exchange like eToro allows you to safely buy crypto. eToro keeps user assets in cold storage and upholds strict KYC and consumer protection regulations.
Can I transfer crypto into my Virgin Money account?
No, it is currently not possible to deposit or withdraw cryptocurrencies directly with a Virgin Money account. Virgin Money does not support holding cryptocurrency balances. To cash out crypto investments, you would need to transfer the funds back to your connected bank account.
