How to Buy Bitcoin in the UK? (Guide 2024)
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The most popular digital currency is Bitcoin. This currency has a different regulatory mechanism than paper currency. Instead of relying on banks, the currency depends on cryptography and peer-to-peer software. Want to know how to invest in Bitcoin in the UK? Here is a complete guide.
Like other trading markets, the Bitcoin market allows traders to buy and sell the instruments. You can earn profit by investing and buying Bitcoin when its value is high and selling when the trend is downward. Follow the easiest way to buy Bitcoin for 2024 in this article.
How to Invest in Bitcoin in the UK in 4 Step
The easiest way to buy Bitcoin in the UK is to purchase it online from a crypto exchange, here are some ways to invest in Bitcoin:
Step 1: Choosing a Crypto Exchange
To buy Bitcoin (BTC), the first step is choosing a broker or a crypto exchange. They will offer you a platform, which will act as a marketplace. However, finding where to purchase Bitcoin is not as easy as it seems.
There are many crypto exchanges available with different features. Many of those platforms are not as reliable. That said you have to choose a platform regulated by the UK’s government.
Below, you will find our top picks for the best crypto exchanges, your trade with.
Step 2: Check and Decide on a Payment Option
To invest in Bitcoin, it's important to consider both the payment options offered by the platform and the availability of a Bitcoin wallet. Before registering with a crypto exchange, check if the platform supports convenient payment methods for you, such as PayPal or Mastercard. This ensures you can easily fund your account and execute transactions.
Simultaneously, assess if the exchange includes a Bitcoin wallet within its platform. Having an integrated wallet simplifies the process of storing and managing your cryptocurrency. If the exchange doesn't provide a wallet, you will need to secure an independent wallet to store your digital assets.
In essence, ensure the exchange platform aligns with your payment preferences and wallet requirements
Step 3: Deposit Cash in Your Account
After choosing an exchange with a suitable payment option, you can enter your payment details. Platforms such as Binance and eToro offer easy deposit methods.
Step 4: Place an order
Once the account is funded, you can make your first order to buy Bitcoin. The process of buying Bitcoin is simple. Simply place an order at a given value and the number of Bitcoins will appear in the wallet.
Where to Buy Bitcoin in the UK
We’ve prepared a list of the best 10 places to buy Bitcoin in the UK. Let’s review these platforms:
eToro
eToro is one of the best places to buy bitcoins in the UK, it's a social trading platform with 17 cryptocurrencies including Bitcoin. With eToro, traders can choose between copy trader, copy portfolio, and trader on their own. These options give a competitive edge in the market. Furthermore, the platform offers video guides and educational resources. You can download the eToro app on your smartphone. The app is available for both iOS and Android users. Here are some effective features of eToro:
Social trading
The seamless account registration process
Free ETF and stock trading
Pepperstone
Pepperstone is one of the safest places to buy bitcoin. It is regulated by three top-tier financial authorities such as the UK’s Financial Conduct Authority (FCA). Opening an account with Pepperstone is a fully digital, easy, and quick process. The withdrawal and deposit process is user-friendly. Sometimes, this process doesn’t charge anything. With Pepperstone you can access higher leverage. What’s more, it offers support and education features such as market insights and face-to-face meetings. If you want to experience an enhanced trading experience, you should opt for Pepperstone. Here are some benefits of using this platform:
Incredible customer service
The fully digital and quick registration process
Free and seamless withdrawals and deposits
Coinbase
Coinbase offers a wide range of cryptocurrencies with more than 130 coins. The broker launches new coins as well. You can choose from major to smaller coins for your trades. This is an advanced trading platform with charting tools and real-time order books. Also, you can earn free coins by completing Coinbase Earn modules. You can learn crypto trading with impressive educational resources. As one of the best sites to purchase bitcoin in the UK, here are some advantages of Coinbase:
Top-rated mobile app
Advanced trading tools
Debit card payment option
Robinhood
Robinhood is a zero-fee discount broker based in the US. Major top-tier financial authorities such as the Financial Industry Regulatory Authority and the US Securities and Exchange Commission regulate this platform. Robinhood introduced cash management, so users can earn interest on un-invested funds. Also, it offers clarity and transparency to clients.
The broker provides a well-designed and user-friendly platform for buying Bitcoin. You can access this trading platform with web and mobile apps. Here are some benefits of Robinhood:
User-friendly mobile and web application
The fast and fully digital registration process
Transparent fee structure
Uphold
Uphold is a complaint and secured cryptocurrency trading platform for buying Bitcoin. Many businesses use this platform to transfer salaries to their global employees because of instant transactions. As a result, employees don’t have to wait to receive their salary. Uphold is a unique platform with real-time fund control features. It offers two-factor authentication for a safe transaction.
The platform is popular for its free storage options, privacy protection capabilities, and cheap currency exchange. The advantages of Uphold are:
Regulatory certificates and compliance
Instant money transfer
Free storage
Switchmarkets.com
Switch Markets is a trusted and fast-evolving place to buy Bitcoin in the UK. It offers a wide range of markets and assets such as commodities, CFD shares, and forex. It offers four cryptocurrencies, which are Bitcoin, Ethereum, Litecoin, and Ripple. Switch Markets provide MetaTrader 4 mobile app for easy navigation and an intuitive platform. Furthermore, you can access a wide range of other features such as tools and charts, technical analysis, and a myriad of payment options. Advantages of registering with Switch Markets are:
MetaTrader 4 platform
100% deposit bonus
Copy-trading features
Kraken
Kraken is a small but best place to buy Bitcoin. It offers a wide variety of cryptocurrencies and low transaction fees. This is a secured trading platform with a bug bounty team and an internal security team. The bug bounty is a team of ethical hackers to identify and fix bugs. Also, the platform secures accounts with two-way authentication, security locks, and secure email.
Furthermore, this platform is the perfect place to buy Bitcoin for beginners. It offers educational content and teaches users ways to protect their accounts. Here are some features of Kraken:
Massive product selection
Low non-instant buy fees
Advanced trading tools
Gemini
The Gemini is a secure place to buy Bitcoin with high-interest rates, top mobile app ratings, and low fees. It has a wide range of cryptocurrency options such as Bitcoin, Ethereum, and PolkaDot. Also, with unique features and tools, you can conduct market research and determine perfect trades. Furthermore, you can transfer money with Gemini Pay and Gemini Earn. Some advantages of this platform are:
Low minimum purchase
Interest on balance
Advanced trading platform
Crypto.com
Crypto.com offers more than 150 crypto assets. This gives traders the freedom to make wise decisions while trading. Furthermore, you can choose from a plethora of payment options for withdrawals and deposits. Also, you can stake more than 40 cryptocurrencies and earn rewards.
Crypto.com is a trustworthy place to buy Bitcoin with a non-custodial DeFi wallet. It also allows you to trade with NFTs and minting. For customer service, the platform offers live chat and self-help. Here are some features of Crypto.com:
Staking and minting options
Low fees on cash transfer
Wide collection of crypto assets
Binance
Many cryptocurrency traders choose Binance for trading because it is the best place to buy Bitcoin in the UK. It offers a huge collection of crypto assets such as AVAX, MANA, and XRP. It offers a plethora of advanced features to offer the best trading experience to users. With Binance you can easily trade for as low as $10. Also, you can earn a number of rewards and offers. Here are some advantages to using Binance:
Low trading fees
Advanced charting options
User-friendly interface for mobile as well as web users
Conclusion
Now that you know the best way to buy Bitcoin in the UK, you can create your account with the above-mentioned platform and get started. Keep in mind that crypto trading is not an easy activity. The Crypto market is highly volatile, so you need to learn how to trade in crypto. If you are still unsure about where to buy Bitcoin, you can check YouTube videos. Many professional traders upload videos on YouTube to guide beginners.
FAQ
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The minimum amount to invest in Bitcoin is $1000. If you have invested the amount in Bitcoin a month ago, you may have earned $200. Your total deposit would have been $1200.
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You can buy Bitcoin for $10, but that depends on your broker. Many brokers such as Coinbase allows you to start with $10. However, some platforms have a higher minimum deposit. Thus, you have to choose a platform with a minimum deposit amount according to your investment.
