A comprehensive guide on how to buy Bitcoin in the UK securely and quickly. Review and compare the most trusted Bitcoin exchanges for residents of the United Kingdom to get started.
Buying Bitcoin in the UK is much easier than many think. It is as simple as picking an exchange, creating an account, depositing money and clicking "buy Bitcoin".
Review and compare the best cryptocurrency exchanges below to find the fastest and most secure way to make your first Bitcoin purchase in the United Kingdom. Buy Bitcoin Finder gives order placement preference to exchanges located in the UK, or exchanges that enable the smoothest verification for citizens of the UK.
Coinbase provides a simplistic user interface that delivers bitcoin to your account instantly when you buy using a debit card. Coinbase generally charge a fee of 3.99% per transaction. Coinbase Fees are 0.5% per trade when you deposit fiat into their platform.
Kraken was founded in mid-2011 by long time Bitcoin advocate Jesse Powell and has grown to become one of the world's largest exchanges. Based on volume alone, they are the largest exchange in Europe and the UK.
Kraken is one of the most trusted exchanges worldwide.
Binance is arguably the world’s largest Bitcoin and cryptocurrency exchange. They offer the best platform for crypto to crypto trades if you are looking to boost your Bitcoin holdings and stack some satoshi’s.
Buy Bitcoin Finder recommends Binance as the best place to trade Bitcoin against other cryptocurrencies for the lowest fees and the deepest liquidity. Binance also offer a Bitcoin Futures trading platform with up to 125x leverage.
Bitpanda is a Bitcoin and crypto broker that is based in Austria, Europe. The exchange has become extremely popular across Europe and is available in most countries. Bitpanda is well designed, easy to use and offers managed wallets to hold your Bitcoin.
Bitpanda has a wide variety of payment methods for users, including credit and debit cards, Skrill, SEPA, and online bank transfer.
Coinmama allows users from any country around the world to buy Bitcoin, Ethereum and Chainlink using their exchange. They are one of the few exchanges that allow Credit Card and Debit Card purchased for Bitcoin and crypto using Visa and Mastercard.
If you are a customer in Europe, you can also buy Bitcoin with a SEPA transfer for a lower fee. Coinmama is an extremely private and secure option to invest in Bitcoin as they will send it to your personal Bitcoin wallet, as opposed to having the Bitcoin or cryptocurrency on a managed and less secure wallet on their platform.
Gemini was founded by well known venture capitalists, the Winklevoss twins. They are a New York based Bitcoin exchange that enable residents of the United States, United Kingdom, Canada and more to buy, sell and trade using their exchange.
Gemini offer both a web application and iOS/Android app that enable users to invest in Bitcoin and other cryptocurrencies within minutes.
Local Bitcoins is a decentralized exchange that acts as an escrow service to facilitate peer to peer buys and sells of Bitcoin by allowing users to list their own Bitcoin advertisements or trades.
Users can choose to meet and pay in person or online, making Local Bitcoins the most private way to buy Bitcoin. Local Bitcoins facilitates transactions in Australia, New Zealand, United Kingdom, United States, South Africa and virtually every other country around the world.
eToro is a world renown multi-asset brokerage company that allows users to invest in Bitcoin as well as buy and trade other cryptocurrencies, stocks, ETFs, currencies, indices and commodities.
eToro is a well respected business that is best in class in terms of security and regulation from a global standpoint. eToro is available in most countries around the world including Australia, Canada, United States, United Kingdom, New Zealand and more.
Safello is a relatively new Bitcoin exchange based in Stockholm, Sweden and is a fully registered financial institution. They offer a wide range of payment methods and low fees for Swedish users to onboard and quickly buy Bitcoin.
CoinCorner is a long running Bitcoin exchange that is bade in the Isle of Man. As an exchange, they are one of the most widely available on-ramps for Bitcoin with users in the United Kingdom, most of Europe, New Zealand, Canada, Australia, South Africa and certain Asian countries.
CoinCorner offer a variety of payment methods to onboard and require no verification or KYC for purchases under 100 pounds.
Based in Hong Kong, Bitfinex has been one of the longest running and largest USD and USDT (Tether) based Bitcoin exchanges around the world. Bitfinex is a go to exchange for institutional investors, with bank wires being one of the only options to onboard with the cryptocurrency exchange.
Notably, In August 2016, Bitfinex was involved in one of the larger hacks in Bitcoin and cryptocurrency when the lost around 30% of all user funds.
Binance has created an industry leading Futures trading platform that allows users to trade Bitcoin, Ethereum, Chainlink and more against Tether (USDT) with up to 125x leverage. You can open a Binance Bitcoin Futures account anywhere around the world in minutes and gain access to deep liquidity, fast execution and an array of different features.
Click this link for an in depth Binance Futures Review.
Binance have the lowest fees for Bitcoin Futures trading and if you sign up through this link, you will get 10% taken off your trading fees.
The capital of the United Kingdom (UK), London, has been regarded as one of the largest centre's for finance and financial technology around the world. With that said, it comes as no surprise the adoption and infrastructure for Bitcoin and cryptocurrencies in the nation has come about quickly, with many Bitcoin based startups relocating to the UK as their new hub.
According to a recent survey by YouGov, in late 2019 over 93% of people based in the UK had heard of Bitcoin, with over one fourth of the respondents noting that they understood Bitcoin fairly well.
Bitcoin and crypto companies have fallen particularly in favour with the Isle of Man, which is well known due to its tax haven status. It is for these reasons that it comes to no surprise that the UK is one of the hotspots for Bitcoin adoption and growth around the world.
The overarching body that regulates Bitcoin and finance in the UK is the Financial Conduct Authority, otherwise known as the FCA. Although the FCA does not yet consider Bitcoin as legal tender in the United Kingdom (UK), they are still in favour of Bitcoin being regulated in order to actively prevent terrorism financing and money laundering.
Unlike other countries around the world, the United Kingdom’s FCA does not consider virtual currencies as a commodity or currency. Rather, the FCA considers Bitcoin and other digital assets as a means of payment or exchange.
Much like the United Kingdom’s fellow commonwealth country Australia, cryptocurrency exchanges in the UK are required to register with the FCA and are thereby subject to their anti-money laundering standards akin to other financial institutions in the nation. This provides a degree of assurance for those who are looking to buy Bitcoin in the UK as the exchanges who facilitate this are under the umbrella of a regulatory authority.
In 2019, Bank of England Governor Mark Carney announced that targetted Bitcoin and cryptocurrency regulations are on the horizon for the United Kingdom (UK). As it stands, there is an ongoing parliamentary inquiry with the FCA working closely with the Bank of England and the UK Treasury to develop a strategy to deal with the risks underpinning digital assets, with a focus on anti-money laundering, counter terrorism financing and financial stability.
Given the United Kingdom’s status as a technology hub both for fintech and Bitcoin or crypto, the UK is one of the easiest and safest places in the world to buy Bitcoin. Recent data suggests that there are over 300 registered exchanges in the UK that enable users to securely buy, sell and trade Bitcoin against British Pounds. You can safely get started with a Barclays Bank or any other bank account in the UK.