This guide will provide a step-by-step process on how to buy crypto with Trading 212, one of the most popular investment apps in the UK. While Trading 212 itself does not offer direct crypto purchases, we will explore the best alternative platforms and methods that work seamlessly alongside the Trading 212 banking services.
The goal is to explain both the limitations of Trading 212 as well as the options available for individuals to conveniently acquire digital assets and engage in this evolving financial sector.
Summary
Trading 212 is a commission-free investment platform that provides a wide range of investment options. However, buying cryptocurrencies directly through Trading 212 is currently not possible as the platform does not facilitate crypto transactions. Instead, individuals can opt for Trading 212’s crypto-focused stocks or ETFs to gain crypto exposure. For direct ownership and trading of cryptocurrencies, specialized crypto exchanges emerge as a more optimal choice.
Based on its robust security, competitive fees, and UK regulatory compliance, eToro stands out as one of the top alternatives to use alongside Trading 212. eToro offers a comprehensive range of crypto assets with efficient fiat onramps from bank accounts.
To get started, create an account on eToro by clicking here. eToro is authorized and regulated by top financial authorities in the UK such as the FCA, giving users trust and peace of mind when purchasing digital currencies.
Step-by-Step Guide to Buy Crypto with Trading 212:
- Register for an eToro account and verify your identity by uploading the required KYC documents. This process usually takes a few hours to a few days depending on document checks.
- Link your Trading 212 bank account to eToro. Login and go to ‘Payments’ then select ‘Bank Transfer’ and follow the prompts to connect your Trading 212 account.
- Deposit funds from your linked Trading 212 account into eToro. The minimum deposit amounts may vary from £50-£200 depending on payment methods. Bank transfers are usually the fastest. Make sure the customer name shown on both accounts are similar.
- Search and select the cryptocurrency you want to purchase, such as Bitcoin, Ethereum, etc. Enter the amount to use your deposited funds.
- Review the order details and click ‘Open Trade’ to complete the purchase. Your crypto holdings will be reflected in the eToro wallet shortly.
It’s important to understand each platform’s rules when it comes to crypto. Let’s explore Trading 212’s position further.
What is Trading 212’s stance on cryptocurrencies?
Trading 212 removed direct crypto purchases in early 2021 due to associated risks. They currently offer several crypto-based stocks, funds, and indices instead of the actual currencies. It’s unlikely they will integrate cryptocurrencies again in the near future given their stringent risk-averse approach.
Does Trading 212 work with crypto?
No, Trading 212 does not directly work with cryptocurrencies or allow purchases at this time. Their perspective is reflected by the lack of crypto offerings and the decision to focus solely on traditional assets like stocks instead. This makes alternative crypto platforms like eToro a necessity to buy digital assets seamlessly alongside Trading 212 services.
Conclusion
While Trading 212 remains a popular investment app for conventional assets, their current stand prevents direct crypto transactions. This guide outlined the smoothest process using eToro, a best-in-class crypto exchange, to conveniently acquire digital currencies alongside existing Trading 212 accounts.
Remember to research thoroughly before investing and only trade with capital you can afford to lose, as cryptocurrencies are highly volatile assets. Always educate yourself on this emerging technological sector to maximize benefits and manage risks proactively.
