If you really wanted to you could just buy cryptocurrencies from any exchange, the problem with that is that you risk Mr banker telling you, "you are not allowed to do that".
Given the current regulatory headaches crypto exchanges present, high-street banks have put restrictions in place to try and stop customers from investing in crypto.
While to some degree, I agree with some of the steps banks have taken to safeguard customers from dodgy exchanges and scams, they shouldn't really be blocking you from moving money to established and reputable exchanges.
Unfortunately here in the UK, this is not going to change any time soon and the best thing you can do to avoid trouble with your bank is to buy cryptocurrencies from companies that are regulated by the FCA.
Where is the best place to buy Cryptocurrency UK?
Crypto companies registered with the FCA under the Temporary Registration Regime for crypto-asset firms:
eToro – OUR PICK
eToro is a well-established social trading platform that is secure and regulated up to its knees in several countries including the United Kingdom.
While eToro is not strictly classed as a crypto exchange, it does offer a generous number of cryptocurrencies that you can invest in, including Bitcoin, Ethereum, XRP, Dash and Cardano.
With eToro you can now transfer crypto assets in and out of external digital wallets, this is something that was possible a little while ago.
As a reputable regulated company, UK banks will not restrict any fund transfers to eToro.
Payment gateway Paypal, one of the world's largest if I may add, introduced cryptocurrencies in early 2021. The money transfer firm now allows its customers to use the platform to buy, hold and sell cryptocurrency, with investments starting at as little as £1.
At present, you can only buy Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
Another well-known and established European payment provider that has also expanded into the crypto world is Skrill. If you are a Skrill customer you can buy, sell and hold cryptocurrency for as little as £10.
Skrill is currently working with over 30 cryptocurrencies that include Bitcoin, Bitcoin Cash, Cardano, Chainlink, Compound, Ethereum and Dogecoin.
Digital bank Revolut launched in 2015 and has since become of the UK’s most valuable fintech startups. As well as banking, Revolut lets you invest in stocks, commodities and cryptocurrencies directly from your account.
With Revolut you get access to 50+ cryptocurrencies and just like Paypal you can invest from as little as £1.
Uphold is an American cryptocurrency exchange that is registered in the UK under the FCA's temporary registration regime for crypto-assets. In the United Kingdom, the exchange offers 36 cryptocurrencies
Coinpass is a relatively new player. It’s a UK-established crypto exchange that launched in 2018. Coins available to trade are Bitcoin, XRP, Ethereum, LiteCoin Polkadot and Chainlink.
Ziglu is a crypto exchange that offers a debit card and ways to earn interest from your Bitcoin investment. Ziglu is registered with the UK financial watchdog and offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tezos, Cardano and Chainlink.
If Bitcoin is all you are interested in then Mode is for you. Mode is a mobile app that lets you make payments in real money and earn cashback in the form of Bitcoin.
The app is working on loyalty programmes with shops but you can currently earn 25% cashback in Bitcoin by purchasing Mode merchandise such as hats and t-shirts.
You can also buy and hold Bitcoin with Mode.
Luxembourg's Bitstamp is registered with the FCA and has offices here in the UK. Bitstamp offers over 30 tradable crypto assets.
Coinbase has become one of those names that everyone talks about, however, several banks in the UK will not let you do business with the exchange due to regulatory pressure from the FCA. Tread carefully with Coinbase.
I think this should be enough to you get you started. As always, never invest what you can not afford to lose. If your bank blocks money transfers to any of the companies listed on this page, be sure to let us and other readers know below.