can you buy crypto on trading 212

Cryptocurrency has become an essential part of the modern investment landscape, with more and more investors seeking easy ways to buy digital assets. Trading 212, a popular platform among European and UK users, is often mentioned as a potential gateway to entering the crypto market. If you’re wondering whether you can buy crypto on Trading 212 in 2024, this article will provide all the information you need. We’ll also walk you through the process step by step, so you can confidently make your first crypto purchase if the platform allows it.

Can You Really Buy Crypto on Trading 212 in 2024?

Trading 212 has been known for its user-friendly interface and accessibility for trading stocks and ETFs. In the past, the platform also offered Contracts for Difference (CFDs) on popular cryptocurrencies, allowing users to speculate on price movements without owning the actual digital asset. However, due to regulatory developments in the UK and EU, Trading 212 discontinued direct crypto CFD trading for retail investors some time ago. This has left many potential crypto buyers confused about the current options available on the platform.

As of 2024, Trading 212 does not allow users to directly buy or own cryptocurrencies like Bitcoin or Ethereum in the same way as you would on specialized crypto exchanges such as Binance or Coinbase. Instead, users can gain indirect exposure to the crypto market through crypto-related stocks, ETFs, and investment trusts. This means you can invest in companies that operate in the crypto space, such as mining firms or blockchain technology providers, but you don’t actually hold the cryptocurrencies themselves.

For those looking to get started with crypto investing on Trading 212, it’s crucial to understand these limitations. While you can’t buy, store, or withdraw actual crypto coins from the platform, it remains a convenient way for those seeking indirect exposure or wishing to diversify their portfolios with crypto-related assets. If you want to own and transfer crypto directly, you’ll need to use a dedicated cryptocurrency exchange.

Step-by-Step Guide to Purchasing Crypto on Trading 212

If you’re interested in gaining exposure to the crypto sector via Trading 212, you can do so by investing in crypto-related stocks or ETFs. Here’s a step-by-step guide to help you navigate this process. First, log in to your Trading 212 account or create one if you’re new to the platform. Once logged in, use the search function to look for crypto-related companies or funds—think of firms like Coinbase, MicroStrategy, or ETFs that track the performance of blockchain companies.

Once you’ve found an asset you’d like to invest in, click on it to review its details, performance history, and risk profile. Trading 212 provides a wealth of information, including recent news and financials, to help you make an informed decision. When you’re ready, click the “Buy” button, choose the amount you wish to invest, and confirm your order. The process is similar to buying any other stock or ETF on the platform, making it straightforward for both beginners and experienced investors.

It’s important to remember that while this approach offers exposure to the potential growth of the crypto sector, it has its differences from owning cryptocurrencies directly. You won’t be able to send your investment to another wallet, nor will you have access to decentralized finance (DeFi) services or staking rewards. However, for those seeking regulated, familiar environments and easy tax reporting, it can be an excellent way to dip your toes into the world of crypto investing.

In summary, while Trading 212 no longer supports the direct purchase of cryptocurrencies as it once did through CFDs, it remains a viable platform for those interested in crypto-themed investments. By buying shares in companies or funds that are closely tied to the crypto market, you can add a layer of digital asset exposure to your portfolio without the complexities of wallets and private keys. If your goal is to own actual cryptocurrencies and participate in the broader crypto ecosystem, you’ll need to look beyond Trading 212 and consider using a dedicated cryptocurrency exchange. Whichever route you choose, remember to do your research and invest wisely.