Making Your First Cryptocurrency Purchase with IG

To start investing in cryptocurrencies with IG, new clients need to complete an online application and verify their identity through electronic verification or document upload. Existing clients can simply add a crypto account through your My IG Dashboard.

All clients must complete a cryptocurrency knowledge assessment (8 questions, 75% pass mark). After verification, you will observe a mandatory 24-hour cooling period that begins immediately when your account is created.

After successful IG Crypto account verification and the cooling off period, you can login and start investing in available digital assets on the IG iOS / Android mobile apps, the IG Invest app, or the web platform.

Once your crypto account is set up and verified, you'll be able to buy, hold, and sell cryptocurrencies directly via the IG app or web platform.

Your crypto account does not hold cash directly. Instead:

• Cash is held in your other IG accounts (Share Dealing, CFD, or Spread Bet)
• When you buy crypto, you select which account to use
• Cash is automatically transferred at the point of purchase
• When you sell crypto, proceeds return to your selected IG account
  
  

If you don't have another IG account:

• We'll automatically create a Share Dealing account for you
• You'll need to accept the terms and conditions on your next login
• This account will hold your cash for crypto investments

• Volatility: Prices can change by double-digit percentages within hours
• Security: Digital assets are vulnerable to hacking and scams
• Regulatory uncertainty: Rules vary globally and continue to evolve
• Technical complexity: Blockchain technology has a learning curve
• Market risks: Many crypto projects won't survive long-term
• Liquidity risks: Ability to sell may be limited during extreme market conditions

In short, no. 

• The Financial Services Compensation Scheme (FSCS) doesn't protect crypto investments
• Financial Ombudsman Service (FOS) protection doesn't cover poor investment performance
• FOS may consider complaints against FCA-regulated firms

While you can theoretically sell cryptocurrency whenever you want, several factors can make it practically difficult in certain situations.

Cryptocurrency markets face several liquidity-related challenges, including high volatility and technological constraints that can discourage market participants, reducing market depth and liquidity. During periods of extreme price movement, liquidity can evaporate quickly.

For popular cryptocurrencies like Bitcoin and Ethereum on major exchanges, liquidity issues are less common but still possible during extreme market conditions.

Network congestion, high gas fees (especially on Ethereum), or blockchain outages can delay or prevent transactions from being processed in a timely manner. Regulatory changes can also impact your ability to sell.

After successful IG Crypto account verification and cooling off period completion, you can start investing in available digital assets on the IG iOS / Android mobile apps, the IG Invest app, or the web platform.

What order types can I use?

When you are ready to invest, you can use market orders for immediate execution at current market prices.

When buying crypto:

1. Open the trade ticket for your chosen cryptocurrency
2. You'll see your available balances from different accounts
3. Default account is Share Dealing (where present)
4. You can switch accounts to use cash from CFD or Spread Bet accounts
5. If you need to add funds, there's a link to deposit to those accounts

Cash is automatically swept from your selected account when the trade executes.

Yes! You can toggle between GBP and USD pricing:

• On asset lists
• On token detail pages
• In trade tickets

This feature is particularly useful when trading stablecoins like USDC, which are pegged to USD.

Before finalising your purchase, carefully review all transaction details, including:

• The asset being purchased
• Quantity
• Price (in your selected currency)
• Which account is funding the trade
• Applicable fees (1.49% spread)

 
 Trade execution timing:

- Most trades: Complete within 5 seconds

- During high volatility: May take up to 1 minute

- Prices update: Every second for all 55+ cryptocurrencies

- If a trade exceeds 1 minute: There may be an issue - contact support immediately

Only proceed when you're confident all details are correct.

Once your digital asset purchase is complete, you can access your crypto portfolio through the My IG Dashboard. This provides an overview of all your cryptocurrency holdings, separated into:

• Crypto assets (Bitcoin, Ethereum, etc.)
• Stablecoins (USDC)
• Total account value
• Profit & Loss

The platform enables real-time tracking of price movements and overall asset performance.

Your purchased assets can be:

• Held indefinitely in your portfolio
• Sold back to cash in your IG accounts

Basic daily statements are available showing your end-of-day positions. These statements show:

• Asset holdings at end of day
• Asset movements (buys and sells)

More comprehensive statements may be added in future updates.

• Public ledger: Transactions are recorded on a public ledger and determine when a transaction is complete
• Decentralised ownership: Ownership links cryptocurrency to unique addresses defined by public cryptographic keys
• Private key security: The custodian holds your assets securely using institutional-grade security measures
• Irreversible transactions: Transfers cannot be cancelled or reversed
• Limited platform visibility: When purchasing goods with crypto, the platform cannot control delivery or quality
• Limited recovery options: Fraudulent or accidental transactions may not be recoverable
• Protocol vulnerabilities: Blockchain protocols may contain undiscovered bugs
• Network congestion: High volumes can lead to delays and increased fees
• Partial fills: Trades may partially fill based on available liquidity