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How to Buy Crypto with Isle of Man Bank in United Kingdom

Last updated on November 12, 2023

Quick Summary: While Isle of Man Bank 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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Isle of Man Bank Homepage

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

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

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Isle Of Man Bank

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 Isle of Man Bank.

Buy Crypto With eToro

About Isle of Man Bank

Isle of Man Bank Isle of Man Bank is an institution in the British Crown dependency of the Isle of Man, providing commercial, retail and private banking services for the local population. Established in 1865, it is the trading name of RBS International since 2019. RBS International is licensed and regulated by Isle of Man Financial Services Authority for the deposit-taking and investment business and is also registered as a general intermediary for insurance.

The first Manx bank opened its doors in 1802 in Bridge House, Castletown. The bank was established through George Quayle, Mark Quayle, John Taubman and James Kelly The bank was called “the Isle of Man Bank.” The company continued to trade up to 1818.

Established by Samuel Harris, Henry Noble, William Moore and William Callister The Isle of Man Banking Co. Ltd. was formed in Athol Street in Douglas on October 26, 1865. The company was the very first company with a limited liability to be registered on the register following the passing in the Companies Act 1865.

The bank was purchased from National Provincial Bank in 1961 and was incorporated as an affiliate to National Westminster Bank upon the merger of National Provincial with Westminster Bank in 1968. It was incorporated into with the Royal Bank of Scotland Group in 2000, after NatWest was purchased from The less prestigious Scottish bank. RBS Group was renamed NatWest Group in the year 2020.

Isle of Man Bank is an active participant in the Isle of Man Depositors’ Compensation Scheme, as outlined in Depositors’ Compensation Scheme Regulations 2010.