How to Buy Crypto with Lloyds Bank
Summary: While Lloyds Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party cryptocurrency exchange.
There are plenty of UK crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
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As mentioned above, just like most UK banks, Lloyds Bank doesn’t offer cryptocurrency trading directly, as setting up a crypto trading platform is quite complex and comes with regulations and extra requirements for the banks.
There are many cryptocurrency exchanges that you can use for buying bitcoin and other cryptocurrencies.
Once signed up to an exchange (we’ll be using eToro for our example as it’s a widely trusted and global exchange), you can simply transfer funds from your bank account to the exchange, and trade it for crypto.
Table of Contents
How to buy crypto or bitcoin with Lloyds Bank
There are only 4 steps involved, let’s get started!
1. Choose a crypto trading platform
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
You can, of course, use any trusted crypto exchange for this, the steps will be very similar for most exchanges.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy cryptocurrency
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with Lloyds Bank.
About Lloyds Bank
Lloyds Bank plc, a British commercial and retail bank with branches in England and Wales, is Lloyds Bank plc. It is one of the "Big Four" clearing banks. Lloyds Bank, Britain's largest retail bank, has a large network of branches and ATMs throughout England and Wales. It also has arrangements for customers to be served by Bank of Scotland branches, Halifax branches, Northern Ireland, and vice versa. They also offer 24/7 telephone and online banking services. It had 16 million small-business accounts and personal customers as of 2012.
It was founded in Birmingham in 1765. Over the years, it grew and acquired a variety of smaller banks. It merged with Trustee Savings Bank in 1995 and was traded as Lloyds TSB Bank plc from 1999 to 2013. It became the principal subsidiary to Lloyds Banking Group in January 2009. This was created by the acquisition by Lloyds TSB Group of HBOS. It is headquartered in London, with other offices in Wales or Scotland. It also has offices in London, Yorkshire, Sheffield, Halifax, Wolverhampton, and a number of brand headquarters.
Lloyds Bank's roots date back to 1765 when John Taylor, a button maker, and Sampson Lloyd, a Quaker iron producer/dealer, opened a private bank in Dale End (Birmingham). In 1864, Oldbury was the first branch to open. It is located six miles (10 kilometers) west of Birmingham.
Taylors and Lloyds adopted the symbol of the beehive as their symbol, which represented industry and hard work. Humphrey Stokes used the black horse regardant device as a sign for his shop in 1677. Stokes was a goldsmith, and "keeper of running cashes", an early term for a banker. The business was later acquired by Barnett, Hoares & Co. It continued trading "at the sign the black horse" after Lloyds took control of that bank in 1884. [
Cunliffe, Brooks and Wilts were all part of a series mergers. Lloyds became one of the "Big Four" clearing bank in the United Kingdom. Lloyds Bank had completed 50 takeovers by 1923. One of these was Fox, Fowler and Company Of Wellington, Somerset. The Bank of England holds the monopoly of banknote issuance in England and Wales today. SGH Martineau LLP was founded by the company in 2011.
Between 1865 and 1923, eleven banks purchased by Lloyds Bank were involved in slavery at some point. One of these banks, the London and Brazilian Bank financed Brazilian coffee plantations using slave labor. Mortgages on these plantations could sometimes be secured by the monetary value enslaved persons as collateral.
The Monopolies and Mergers Commission deemed that a failed merger attempt with Martins Bank and Barclays was against the public interest in 1968. The following year, Martins was finally purchased by Barclays. Lloyds Bank was one of the founding members of the Joint Credit Card Company, which included Midland Bank, National Westminster Bank and the National and Commercial Banking Group. This group launched the Access credit card (now MasterCard) in 1972. It also introduced Cashpoint in 1972, which was the first online cash machine that allowed plastic cards to be used with a magnetic stripe. The Cashpoint trademark is now a common term for an ATM in the United Kingdom.
Lloyds decided in 1982 to follow Provident Financial Group plc into the estate agency market by purchasing the Norfolk firm Charles Hawkins and Son in May 1982 to create Black Horse Agencies. Charles Hawkins, who was the land agent for Pratt's Ryston estate, established the firm in Downham Market in 1869. In 1875, the firm was merged with Cruso and Son to form Cruso and Hawkins. The firm later became Charles Hawkins and Son.
Between 1984 and 1997, Sir Brian Pitman led the bank to adopt shareholder value creation as its governing corporate goal. The bank's business focus was narrowed. It reacted to the disastrous loans to South American states by cutting its overseas operations and looking for growth through mergers with other UK-based banks. Pitman unsuccessfully tried to acquire The Royal Bank of Scotland (1984), Standard Chartered (1986), and Midland Bank (1992). Since there was no advantage to operating independently, Lloyds Bank International was merged with Lloyds Bank International in 1986. To create Lloyds Abbey Life, Lloyds Bank merged five of its businesses and the Abbey Life Insurance Company in 1988.
Through a network that includes 1,300 branches across England and Wales, the bank provides a complete range of financial and banking services. Lloyds Bank International Limited manages branches in Jersey, Guernsey, and the Isle of Man. Lloyds Bank (Gibraltar Limited operates in Gibraltar. Both are wholly-owned subsidiaries that trade under the Lloyds Bank name. The Prudential Regulation Authority has authorized Lloyds Bank and it is regulated by both Prudential Regulation Authority (Financial Conduct Authority) and the Prudential Regulation Authority. It is a member the Financial Ombudsman Service and the Financial Services Compensation Scheme, UK Payments Administration and the British Bankers Association.
The Lloyds Bank Foundation supports local, regional, and national charities that work to address disadvantage in England and Wales. There are three distinct foundations: one for Scotland, the Channel Islands and one for Northern Ireland.
The bank's expansion overseas began in 1911. By 1985, the bank had representative offices and banking services in 45 countries, including Argentina and the United States.
In 1986, Lloyds Bank International was merged into the main Lloyds Bank business. The name is used since 2010 to refer to the bank’s offshore banking operations.