How to Buy Bitcoin & Crypto with Hargreaves Lansdown

Key Takeaway: Hargreaves Lansdown does not support direct cryptocurrency trading or custody through its platform. Investors looking to buy crypto must use dedicated digital asset exchanges registered with the Financial Conduct Authority (FCA).

eToro is an FCA-registered multi-asset investment platform based in London that provides access to 70+ cryptocurrencies and other financial instruments, including shares and ETFs.

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Can I Buy Crypto with Hargreaves Lansdown?

No, Hargreaves Lansdown does not support direct cryptocurrency trading. The platform focuses on traditional investments like stocks, funds, and ETFs. While it offers limited exposure to crypto through exchange-traded notes (ETNs) and blockchain-related equities, it does not facilitate the purchase or custody of actual digital assets like Bitcoin or Ethereum.

Transferring funds from a Hargreaves Lansdown account to a regulated traditional crypto exchange is recommended for investors seeking direct ownership of digital currencies.

How to Buy Bitcoin with Hargreaves Lansdown

Hargreaves Lansdown doesn't offer direct crypto trading services. While the platform is used for traditional investments such as stocks, funds, and ETFs, you won't find options to buy cryptocurrencies like Bitcoin or Ethereum directly through their investment portal.

A recommended platform for investing in digital assets is eToro, which is registered with the FCA and supports over 70 digital assets, competitive fees, secure storage, and full ownership of your investments.

Here’s a guide on how to purchase Bitcoin through eToro:

1. Open Account: Sign up at eToro’s website and complete the required identity verification process (KYC) to activate your account securely.
2. Transfer GBP: Log in to your eToro account, select "Deposit Funds," and choose GBP as your currency. Transfer the desired amount from your bank account or debit card.
3. Search for Bitcoin (BTC): Once your funds are available, type "Bitcoin" or "BTC" into eToro’s search feature. Select Bitcoin to proceed.
4. Complete Purchase: Specify the amount you wish to invest, double-check the transaction details, and finalise your trade. Your Bitcoin holdings will shortly appear in your eToro investment portfolio.

Crypto Trading Fees

Since Hargreaves Lansdown doesn’t directly offer crypto trading, UK investors need to understand the fees involved with using cryptocurrency platforms. Here's a clear overview of eToro’s fee schedule:

• Trading Fees: eToro applies a transparent 1% transaction fee for all cryptocurrency trades. This fee is directly integrated into the displayed purchase or sale price.
• Market Spread: eToro doesn't impose additional spread-based charges beyond the stated 1% fee. However, fluctuations in the market may still affect the bid and ask prices slightly.
• Withdrawal Fees: Sending money back from eToro to your linked bank account (including those connected with Hargreaves Lansdown) in GBP is simple, with no hidden withdrawal fees.

Given eToro’s transparent pricing, competitive trading costs, and the convenience of withdrawing funds directly to your bank, it is a practical choice for Hargreaves Lansdown investors looking to access cryptocurrencies.

Best GBP Deposit Methods for Hargreaves Lansdown

For Hargreaves Lansdown customers interested in investing in cryptocurrencies, the best approach is to deposit funds into a regulated platform like eToro. Here are eToro’s GBP deposit methods to transfer money:

• Debit Card Deposits: You can quickly deposit GBP onto eToro using a standard UK-issued debit card. This payment method provides immediate transfers and securely supports deposits up to approximately £30,000 per transaction.
• Bank Transfers via Faster Payments: Transferring GBP via Faster Payments directly from the bank account to eToro is free and typically credited within minutes.
• eToro Money for Large Deposits: Investors planning substantial crypto investments have the option of using eToro Money. This method comfortably supports transfers up to around £400,000 in a single transaction.

When you're ready to convert cryptocurrency holdings back into GBP, withdrawals to your bank account via eToro are straightforward and typically free of additional charges.

What is Hargreaves Lansdown?

Hargreaves Lansdown, established in 1981 by Peter Hargreaves and Stephen Lansdown, is the UK's largest direct-to-investor investment platform. The company offers a comprehensive suite of financial services, including Stocks and Shares ISAs, Self-Invested Personal Pensions (SIPPs), fund and share dealing, and cash savings accounts. 

Over the years, it has built a reputation for empowering individual investors with user-friendly tools and resources to manage their portfolios effectively. Hargreaves Lansdown manages over £155 billion in assets for approximately 1.9 million clients.

Conclusion

Although Hargreaves Lansdown doesn't offer direct cryptocurrency trading, investors can still access digital assets by transferring GBP to FCA-registered platforms like eToro. 

By leveraging eToro’s transparent fee structure, secure storage, and broad selection of cryptocurrencies, investors gain full ownership and control over their crypto holdings. To get started, simply transfer funds through convenient GBP methods and confidently build your crypto portfolio alongside traditional investments.