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How to Buy Crypto with Royal Bank of Scotland in United Kingdom

Last updated on November 14, 2023

Quick Summary: While Royal Bank of Scotland 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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Royal Bank of Scotland Homepage

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

There are a large number of cryptocurrency trading platforms that you can use 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 RBS

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

1. Pick a cryptocurrency trading platform

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 cryptocurrency

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 Royal Bank of Scotland.

Buy Crypto With eToro

About Royal Bank of Scotland

The Royal Bank of Scotland plc is an important commercial and retail banking institution in Scotland. It’s one of the branches of the retail banking division of NatWest Group, together with NatWest (in England and Wales) and Ulster Bank. It is the Royal Bank of Scotland has approximately 700 branches, mostly located in Scotland although they have branches throughout numerous larger cities and towns across England as well as Wales. The bank is distinct from the other Edinburgh-based bank that is that is the Bank of Scotland, which preceded that of the Royal Bank by 32 years. It is the Royal Bank of Scotland was created in 1724 in order to provide a bank that had solid Hanoverian and Whig connections.

The Royal Bank of Scotland provides the full spectrum of insurance and banking products for business, private commercial and residential customers. Alongside traditional branches, telephone, and online bank services, Royal Bank of Scotland has been operating “mobile branches” since 1946 with converted vans that serve rural regions. The number of mobile branches is currently 19.

The bank is authorized to operate by Prudential Regulation Authority. Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. It is fully involved with the Faster Payments Service, an initiative that aims to speed up certain types of payments. It was launched in 2008.