How to buy crypto with your Nation wide card & account
Want to buy crypto with your Nation Wide account or card? Then follow the steps in this article! In no time, you’ll be buying Bitcoin or Ethereum with your Nation Wide card!
How to buy crypto with your Nation Wide card?
Step 1: open an account with a crypto exchange
At the time of writing, it is not possible to buy cryptocurrencies directly with your account at Nation Wide bank. Opening an account with a crypto exchange will ensure that you can still buy Bitcoin with your Nation Wide card:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Nation Wide after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: activate account & deposit money
After choosing a (demo) account with the exchange, you can activate the account. You do this by confirming your identity. After this process is completed, you can directly deposit funds from your Nation Wide card to your crypto account. Please note that it can take up to a few days for the payment to be processed.
Step 3: buy crypto with your Nation Wide card
Next, select the crypto you want to invest in: this could be Bitcoin or Ethereum, for example. Then press the buy button and enter the amount you want to invest. Optionally, you can also set a maximum price you want to pay for your crypto. Then press open position to buy your crypto directly on the exchange. Depending on liquidity, it may take some time before the order is actually executed.
Some traders regularly sell their crypto: this is also called day trading. When you really know what you are doing, this can be lucrative. However, for traders with little experience, it can be wiser to hold on to your crypto for a longer period of time. This is because that way you will achieve the average return on crypto.
Is Nation Wide anti-crypto?
Some visitors accuse Nation Wide of being anti-crypto, but this is not the case. Like many other UK banks, they have blocked deposits to Binance. The exchange does not currently have the necessary licences, leading banks to distrust the exchange.
However, Nation Wide generally does not block deposits & withdrawals from crypto exchanges. So you can trade crypto with a reliable exchange using your Nation Wide bank account without any problems.
How can you safely buy crypto at Nation Wide?
- Password: choose a strong password that is not easy to guess.
- 2FA: by securing your account with 2FA, you make it harder for hackers to access your account.
- Wallet: even crypto exchanges are not always completely reliable. By sending your crypto to an external wallet, you reduce the chances of losing your crypto.
- Research: do proper research on the actual value of a crypto. There are many crypto scams that can make you lose all your money.
- Emotions: keep your emotions in check. Sharp falls are the order of the day when you invest in crypto!
About Nation Wide
Nation Wide or in full Nationwide Building Society is a British financial institution. With total assets of nearly £300 billion, it is one of the UK’s larger banks. In fact, the bank has become the second provider of savings accounts & mortgages with a market share of over 10%.
Can you buy Bitcoin at Nation Wide?
It is not possible to invest directly in Bitcoin or other crypto at Nation Wide bank. However, by opening an account with a reliable crypto exchange, you can still buy crypto with your Nation Wide card without any problems. At the top of this article, you can read in details which providers you can do this with. For the rest, remember that cryptos are risky; you can always lose your deposit.