How to Buy Bitcoin in United Kingdom

Best places to buy bitcoin

Where to buy bitcoin cryptocurrencyIf you are looking to buy bitcoin then check out the prices at these exchanges which all accept customers from United Kingdom. Prices can vary quite significantly between exchanges and are constantly changing so the below is just a guide from the last few minutes. For more information on these exchanges and other exchanges for buying bitcoin or other cryptocurrencies in United Kingdom then please scroll down to the Exchanges Info Section which highlights the differences between them.

Buying bitcoin in United Kingdom

Buying bitcoin in United KingdomIn the UK, there seems to be a unified attitude towards crypto regulation. Since the UK is no longer part of the EU, the UK now has more leeway to create its crypto-regulation framework. Currently, different government authorities influence use of cryptocurrency to some degree, but the Financial Conduct Authority (FCA) is the main regulatory body, regulating the prudential requirements, conduct of firms and anti-money laundering control. While there is a rising number of investigations conducted by the FCA, there seem to be no serious enforcement action taken deriving from crypto. However, this might change, considering the UK's 2021 ban on selling crypto-derivatives to retail consumers. Nevertheless, the UK banking sphere is quickly expanding. In January 2020, the first Authorized Payment Institution license was issued by the FCA to a crypto firm. Basically, the firm now provides payments services (online payment processing or money transfer) across the European Economic Area.
As of 20/03/2021

Bitcoin (BTC) Key Data
Price $
16,992.27
24hr %
0.20%
Mkt Cap $
321,197.66b
24hr High
17,102.97
24hr Low
16,906.37
The first cryptocurrency. It has limitations for transactions but it is still the most popular being secure, trusted and independent from banks and governments.
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Exchanges Info

These exchanges all accept customers from United Kingdom. While they broadly offer the same services and you can buy bitcoin at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below

Binance

Binance is one of the largest crypto exchanges with low fees, 100s of coins, and high trading leverage. It is one of the easiest & cheapest exchanges for crypto trading.

Pros
  • Hundreds of coins and pairs
  • Very low fees
  • High liquidity
Cons
  • No US residents
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Open a eToro Account

68% of retail CFD accounts lose money. Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. US Residents - eToro USA LLC does not offer CFDs, only real Crypto assets available.

eToro

eToro is a social trading platform that allows you to buy into cryptocurrencies, international stocks and shares and more complex financial assets. It also has an innovative Copy Trader feature where you can choose to follow other successful traders and automatically copy their trades to hopefully share in their success

Pros
  • Fully regulated financial institution
  • Trade crypto, stocks and other financial assets
  • Follow and copy the trades of expert traders
Cons
  • Fees (spreads) are high
  • Only USD as base currency
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Kraken

Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan

Pros
  • It can be used to trade against fiat options
  • Robust security measures
  • Free SEPA deposits in Europe
Cons
  • Not a very beginner-friendly interface.
  • No card deposit options
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Open a Uphold Account

Uphold Disclaimer: Asset availability on the Uphold platform is subject to region. All investments and trading are risky, and may result in the loss of capital. Cryptoassets are largely unregulated and are not subject to protection

Uphold

Based in Charleston, South Carolina. Serves over 184 countries and has done over $4 billion in transactions. Offers convenient options to swap between crypto, fiat, equities, and precious metals.

Pros
  • Open to US residents
  • Integrated with Brave Browser
  • Over 50 different coins
  • Also offers precious metals and equities
  • Convenient and cheap deposit/withdrawal methods
Cons
  • High trading fees
  • Smaller coin selection compared to some
  • No Paypal withdrawal option
  • No instant debit card withdrawals
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