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 $
36,007.70
24hr %
-3.27%
Mkt Cap $
663,213.43b
24hr High
37,498.58
24hr Low
34,600.36
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
  • Trade without verification
Cons
  • No US residents
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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 have 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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Bitfinex

Operating since 2012, Bitfinex has a huge range of coins and trading pairs, a good user interface and low trading fees.

Pros
  • Very low trading fees
  • Large range of coins and trading pairs
  • High liquidity
Cons
  • Slow account verification
  • Two major hacks
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OKEx

OKEx is the second-largest cryptocurrency exchange in the world by volume. It posts over $2 billion in trades daily and has over 400 trading pairs.

Pros
  • Good range of coins
  • DEX trading
  • No hacking history
Cons
  • Not available in US
  • KYC required
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Kucoin

Founded in 2017, KuCoin has already managed to establish itself as “The People’s Exchange.” With 200+ cryptocurrencies and more than 400 markets, it has become one of the hubs for cryptocurrency trading.

Pros
  • Vast selection of altcoins
  • Ability to stake & earn crypto yields
  • Robust security features
  • No forced KYC checks
Cons
  • No fiat currency deposits
  • Trading volume is low

Coinmama

Coinmama was formed in Slovakia in 2013. As a user, you are not allowed to exchange cryptocurrencies with other users on this platform. Instead, you will be trading cryptocurrencies with Coinmama directly which makes your transactions more secure.

Pros
  • Receive coins to your wallet instantly.
  • High limits for buying bitcoin
  • Faster customer service
  • High levels of security
Cons
  • No option for trading with other users
  • Higher fees
  • No mobile app
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Poloniex

Poloniex is a centralized cryptocurrency exchange that started its journey back in January 2014. The platform offers margin trading, spot trading and margin lending

Pros
  • No verification required
  • Low fees
  • Margin trading and lending options
Cons
  • Not regulated
  • No Fiat deposits
  • No US users
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Bittrex

Bittrex is a veteran US-based cryptocurrency exchange launched in 2013. Its has Worldwide availability, comprehensive mobile app, high liquidity and low fees.

Pros
  • Strong security features
  • Faster transaction & withdrawals
  • Compliant with US laws
  • Inexpensive bank card deposits
Cons
  • No leveraged margin trading
  • Intrusive verification process
  • Unexplained closure of account

Changelly

Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesn’t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.

Pros
  • Non-custodial exchange
  • Great way to switch altcoins
  • Doesn’t require extensive KYC
  • 2FA security and high exchange limit
Cons
  • A high transaction fee of 0.5%
  • Unclear owners
  • Sometimes their service is quite slow
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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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Swyftx

Swyftx is an AUSTRAC registered trading platform exclusively designed for Australians. Based in Queensland, the platform works like a broker to find the best Bitcoin price both in USD and AUD

Pros
  • Hybrid exchange
  • Instant user verification
  • AUSTRAC registered
  • Real-time price feed
Cons
  • For Aus and NZ residents only
  • No option for margin trading