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How to Buy Crypto with Wesleyan Bank in United Kingdom

Last updated on November 12, 2023

Quick Summary: While Wesleyan 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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Wesleyan Bank Homepage

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

Thankfully there are many cryptocurrency trading platforms 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 Wesleyan Bank

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

1. Pick a crypto 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 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 Wesleyan Bank.

Buy Crypto With eToro

About Wesleyan Bank

On the 23rd of April, 1841, the members from the Wesleyan Methodist Church in Birmingham met in a small space near the chapel situated on Cherry Street and founded the Wesleyan Provident Assurance Society.

It was at the peak of the Industrial Revolution and the Society’s goal was to assist workers at the factories in Birmingham save money for illness and funeral costs. It was the first time a premium had been collected on the 27th August 1841. They collected a few cents each week to pay for funeral and sickness costs providing life insurance and annuities as early as.

Around 1900 Wesleyan relocated to its new , state-of-the-art Chief Office in Steelhouse Lane. The building would remain in the same building for nearly 90 years until it was destroyed to make way for its brand new Head Office.

In 1991, as part of the 150th anniversary year of the Society, it moved into its brand new headquarters at Colmore Circus, built on the same spot that its previous offices had been located on for more than 100 years. The same year, the Wesleyan’s Assets Under Management hit PS1bn for the first time in its history.

In 2013 Wesleyan purchased Practice Plan Group, the most prominent provider of dental practice-branded membership plans. The company also bought Medenta one of the top providers of patient financing in UK dentists. This acquisition will strengthen Wesleyan’s standing on the market for dental services.

Based on the successes of its apprenticeship scheme, Wesleyan joined forces with Birmingham Metropolitan College to become corporate partners of the Greater Birmingham Professional Services Academy. The aim is to build an army of talented youngsters to work in the area’s professional services sector. Wesleyan Bank celebrates 20 years of growth.

In the year 2020, they displayed their strength once again as they faced the challenges that resulted from the Covid-19 epidemic. While their working methods were changed, with Specialist Advisors to Financials at Wesleyan Financial Services meeting clients via video chats and their dedication to their clients was as strong as ever before.