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How to Buy Crypto with HSBC UK in United Kingdom

Last updated on December 25, 2023

Quick Summary: While HSBC UK does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of United Kingdom cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

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HSBC UK Homepage

As mentioned in my quick summary, like most United Kingdom banks, HSBC UK doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency trading platform and comes with regulations and extra work for the banks.

Thankfully there are many crypto exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with HSBC

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with HSBC UK.

Buy Crypto With eToro

About HSBC UK

HSBC UK Bank plc is a British multinational financial services company headquartered within Birmingham, England. It’s an affiliate of HSBC Holdings.

HSBC UK Bank plc is one of the four largest clearing banks operating in the United Kingdom and is a 100% own subsidiary company of HSBC Holdings. The bank’s business spans the traditional high-street roles of commercial and personal banking, through consumer finance, private banking as also investment and corporate banking. All brands included, the bank runs around 1800 locations in the UK.

The UK headquarters of HSBC is situated within One Centenary Square in Birmingham.

HSBC UK Bank plc is the only of the five major banks in Britain with more funds in its deposits over loan (loan:deposit ratio at 90 percent). This has resulted in the bank being viewed as more secure over other banks by investors as well as customers as it has the capacity to completely pay for its own business. This has also led to the stock price of the company retaining its value during the current credit crisis and unlike other banks on the market.

through its sibling business HSBC UK Bank plc (also a wholly-owned affiliate from HSBC Holdings plc), the bank operates 594 branches across England and Wales and Wales, but has a less extensive footprint within Scotland as well as Northern Ireland where local banks are the majority.