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How to Buy Crypto with Shawbrook Bank in United Kingdom

Last updated on November 12, 2023

Quick Summary: While Shawbrook 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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Shawbrook Bank Homepage

As mentioned in my quick summary, like most United Kingdom banks, Shawbrook Bank 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.

There are a large number of crypto 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 Shawbrook Bank

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 Shawbrook Bank.

Buy Crypto With eToro

About Shawbrook Bank

Shawbrook Bank Limited is a commercial and retail bank within the United Kingdom. It is the operating company belonging to Shawbrook Group plc which was listed on the London Stock Exchange until it was purchased by a consortium of BC Partners and Pollen Street Capital in July of 2017.

The bank was established in the year 2011 after private investors, led by RBS Equity Finance, which was later split away by the Royal Bank of Scotland Group and was renamed Pollen Street Capital, bought Whiteaway Laidlaw Bank from the Manchester Building Society. Whiteaway Laidlaw Bank rebranded as Shawbrook Bank in October 2011.

Singers Asset Finance was acquired in March 2012, and later changed its name to Shawbrook Asset Finance in March 2013. The bank bought asset-based loan provider Centric Commercial Finance in June 2014, and then rebranded it under the name Shawbrook Business Credit. The institution was the subject of the first public offer in April of 2015 which raised PS90m in cash, to fund the capital position and further expansion.

A group of investors comprised of BC Partners and Pollen Street Capital purchased the company for PS868 million in July of 2017.