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How to Buy Crypto with Virgin Money in United Kingdom

How to Buy Crypto with Virgin Money in United Kingdom

By Hong Xie

Last updated on November 12, 2023

Quick Summary: While Virgin Money 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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As mentioned in my quick summary, like most United Kingdom banks, Virgin Money 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 exchanges 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 Virgin Money

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.

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 Virgin Money.

Buy Crypto With eToro

About Virgin Money

Virgin Money is a banking and financial services company that operates within the United Kingdom.

It is believed that the Virgin Money brand was founded by Richard Branson in March 1995. It was initially named Virgin Direct, and pioneered index tracking after introducing the value personal equity plan that was introduced to the market. In the early 2000s, Virgin Money expanded its operations all over the world.

Virgin Money announced plans to become a retail bank and also attempted to acquire Northern Rock in 2007 before it was nationalized through the British Government. Virgin requested its own bank license with the Financial Services Authority in 2009 and obtained one via the purchase from Church House Trust the following year. Virgin purchased Northern Rock in January 2012 and changed the name of the business to Virgin Money.

Virgin Money offers a range of investment and savings products, including mortgages and credit cards, insurance , and pensions. This merger Northern Rock widened Virgin Money’s product range, which was previously focused on insurance and credit cards products. The first savings accounts provided with Virgin Money’s brand name Virgin brand were introduced at the beginning of January in 2012.

Then, they were gradually augmented by additional banking products under the brand name of its own. The bank introduced its own line of current accounts that are basic in July 2014, initially just within Scotland in Scotland and Northern Ireland. It was extended to all of the UK in 2015.

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Hong Xie

Hong Xie is a seasoned banking professional whose expertise spans over two decades. Known for his strategic approach to financial planning and wealth management, Hong has helped countless individuals and businesses achieve their financial goals. His analytical skills and thorough understanding of financial regulations ensure that his advice is both practical and compliant.