How to Buy Bitcoin in The UK
We found 6 trusted online cryptocurrency exchanges operating in The United Kingdom including Coinbase, eToro, and Bitpanda.
Coinbase is the most popular Bitcoin exchange in The United Kingdom with 110,000,000 users
eToro allows buying and selling Bitcoin with 9 forms of payment
* Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bitpanda accepts users and payments from 32 countries
Ease of Use
Easy
Fees
Average
Verification
1 Day
Reputation
Trusted
Coinbase is one of the most popular digital currency exchanges, based in the U.S and boasting over 43 million users.
Buy Bitcoin
Coinbase is one of the most popular digital currency exchanges, based in the U.S and boasting over 43 million users. Headquartered in San Francisco, California, the platform offers both an all-in-one exchange and a wallet, making it one of the easiest starting points with Bitcoin. Coinbase’s wallet and merchant services, which have won the trust of over 108 million users, have their payment platform integrated with more than 48,000 businesses worldwide.
Coinbase is one of the world’s largest bitcoin exchanges and also considered to be one of the safest. Coinbase is a regulated company and holds licenses in all districts in which it operates. It is also a VC backed company with over $100 million in funding. Cash held in Coinbase wallets is FDIC insured up to $250,000.
Investing in crypto assets is unregulated. No consumer protection. You risk losing all of your investment. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Ease of Use
Easy
Fees
Average
Verification
1-2 Days
Reputation
Trusted
eToro is an innovative and versatile trading platform where you can trade stocks, ETFs, currencies, cryptocurrencies, incides, and commodities.
Buy Bitcoin
eToro is an innovative and versatile trading platform where you can trade stocks, ETFs, currencies, cryptocurrencies, incides, and commodities. eToro works as a social investment platform with its 'CopyTrading' feature which allows users to view, follow and copy the network's top traders automatically.
eToro offers a state-of-the-art, fully-managed cold storage Custody as a Service (CaaS) solution. eToro is a legitimate broker and trading platform and are regulated in Europe by the Cyprus Securities and Exchange Commission and in the UK by the Financial Conduct Authority (FCA). They are also registered with the U.S. Commodity Futures Trading Commission (CFTC).
Ease of Use
Easy
Fees
Average
Verification
1-2 Days
Reputation
Trusted
Bitpanda is an Austrian cryptocurrency exchange that offers users a personal wallet and trading platform.
Buy Bitcoin
Bitpanda is an Austrian cryptocurrency exchange that offers users a personal wallet and trading platform. The exchange has been becoming increasingly popular throughout Europe with a very well designed and easy to use platform.
Bitpanda stores user funds in secure offline wallets (cold storage), use SSL encryption, offer DDOS protection and session management and email confirmation for all critical actions like sending cryptocurrencies from Bitpanda to other wallets.
After buying bitcoin from an exchange, it's important to withdraw to your own non-custodial wallet for security, privacy, and to have full control over your bitcoin.
Zengo is an easy iOS & Android crypto and NFT wallet. Buy, sell, and self-custody directly from the app.
Ledger Nano S Plus is a secure hardware wallet that connects to your computer via USB-C
BlueWallet is a popular desktop Bitcoin wallet which is compatible with Windows, Mac, and Linux
Ease of Use
Medium
Fees
Average
Verification
1-2 Days
Reputation
Trusted
Launched in 2015, Uphold is a unique New York-based exchange offering users the options to buy and sell cryptocurrencies, equities, and precious metals.
Buy Bitcoin
Launched in 2015, Uphold is a unique New York-based exchange offering users the options to buy and sell cryptocurrencies, equities, and precious metals. An account on Uphold gives you access to over 50 U.S. stocks, 65 cryptocurrencies, four precious metals, and 27 national currencies. Uphold does not charge any deposit, withdrawl, or trading fees, instead, opting for a spread between 0.8% to 3%.
Uphold employs security audits at least annually to ensure client funds remain safe from vulnerabilities. Uphold also works with licensed banking partners in the US and is regulated by the United States Treasury Department regulator, FinCEN.
Ease of Use
Medium
Fees
Average
Verification
2-3 Days
Reputation
Trusted
Previously known as BitX, Luno was founded in 2013 in South Africa.
Buy Bitcoin
Previously known as BitX, Luno was founded in 2013 in South Africa. Luno serves upcoming markets that lack local cryptocurrency exchanges and as such has a strong presence in presence in South Africa, Singapore, Nigeria, Malaysia, and Indonesia.
Luno claims that the majority of customer Bitcoin funds are kept in what we call “deep freeze” storage. These are multi-signature wallets, with private keys stored in different bank vaults. All web services and communication happens over SSL-secured (https) channels. Wallets are stored using PGP encryption. No individual has direct access to customer Bitcoin funds and regular auditing — both financial and security auditing — ensures that funds are always safe and fully accounted for.
Ease of Use
Easy
Fees
Low
Verification
1 Day
Reputation
Trusted
OKX is a leading cryptocurrency exchange known for its vast selection of cryptocurrencies.
Buy Bitcoin
OKX is a leading cryptocurrency exchange known for its vast selection of cryptocurrencies. With its user-friendly interface, low fees, and deep liquidity, OKX stands out as an ideal choice for both novice and experienced traders seeking a reliable and feature-rich platform.
OKX has created an asset risk reserve fund committed to continually allocating a percentage of our earnings to guarantee and protect assets from crypto security risks
Buying bitcoin and other cryptocurrencies in The United Kingdom is a simple process and usually takes less than 10 minutes to get fully setup.
The first step is to register with a platform, app or exchange and complete a Know Your Customer (KYC) process.
The exchange you choose will be interoperable with most devices, desktop and mobile, and will allow you to withdraw to your own personal hardware wallet.
There are also several options available for buying and selling without verification on P2P exchanges, although they are much less user-friendly and are recommended for more advanced users.
Before purchasing, there are a couple of important things you'll need to prepare:
1. Create an account with an exchange
The United Kingdom has 6 trusted exchanges available for you to sign up for, with the most popular being Coinbase and eToro, which account for a combined 130,000,000 active users.
Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies.
Exchanges will differ by fees, security, payment methods, and other features, so explore the "info" tab on the exchanges listed above to find which one is the right fit for you.
The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support.
Also it's important to note that you can always sign up to other exchanges later.
2. Complete the KYC verification process
After signing up to an exchange you will need to verify your identity and address, which is part of the Know Your Customer (KYC) process. This is an unavoidable legal requirement for almost all exchanges in The United Kingdom.
To complete this step you will need your photo ID readily available to take pictures of both the front and back sides of the document.
In most cases your verification will be approved instantly and at most can take 1-2 days.
3. Make a fiat deposit
To begin buying bitcoin and other cryptocurrencies you will need to link a bank account or credit card to the exchange.
Some of the payment methods provided by Coinbase and eToro are: Bank Account, Debit Card, Credit Card, Wire Transfer, SEPA Transfer.
Depending on the payment method, it could take anywhere from a couple of minutes to days for the funds to arrive at the exchange.
4. Buy cryptocurrency
Once your account has been funded, you are ready to buy your first bitcoin. It's important to note that you do not need to buy a full bitcoin.
Most exchanges will let you buy as little as a few dollars worth of bitcoin, or any other cryptocurrency.
5. Send your bitcoin to a personal wallet
Once you've purchased bitcoin or your cryptocurrency of choice it's important to withdraw it to your own secure personal wallet.
Leaving your coins on an exchange poses a security risk as many exchanges are targets for hackers to steal user funds. Storing your own coins on your personal hardware wallet mitigates that risk.
The United Kingdom
Bitcoin and other cryptocurrencies are not regulated in the UK and are legal to trade and hold.
There are no regulatory legislation prohibiting the use of cryptocurrencies in in England.
🌎 View bitcoin and cryptocurrency legality around the world
There are 6 trusted exchanges operating in The United Kingdom with the most popular being Coinbase , eToro , and Bitpanda.
You can review each of these exchanges and find best exchange that works for you. Bitrawr ranks exchanges in The United Kingdom based on fees, users, and security while giving placement preference to exchanges located in The United Kingdom or specifically catering to users in The United Kingdom.
Most of the exchanges operating in The United Kingdom have debit/credit card payment options available. Remember that this requires completing KYC.
No! For complete custody of your Bitcoin or other cryptocurrencies it is recommended to store them in a hardware wallet as it keeps private keys safe and entirely offline.
Bitcoin ATMs are an excellent way to buy bitcoin using cash and offer little to no requirements for KYC. ATMs are commonly located inside of convenience stores, shops, restaurants, malls or airports. Find one near you using our ATM map.
Yes, Coinbase works for users in The United Kingdom. Coinbase in The United Kingdom allows for the use of debit cards, credit cards, bank accounts, wire transfers, and in some cases, PayPal to buy cryptocurrencies.
Find the best and most-trusted Bitcoin and cryptocurrency wallets that work for you.
Everything you need to know about Bitcoin mining hardware, software, and pools.
Explore an array of articles, reviews, and insights dedicated to unraveling the world of Bitcoin.
