How To Buy and Sell Bitcoin In The UK?
As the cryptocurrency industry overcomes boundaries and country borders, it gets easier to buy Bitcoin in the UK, and not much different than buying it from, say, Canada. If you’d prefer to use businesses that are from the UK, among the leading UK-based exchanges are Coinfloor and CEX.io.
You may also like the services of eToro, BC Bitcoin, Changelly. While Changelly lets you instantly swap cryptocurrencies, eToro allows for bitcoin purchases, and BC Bitcoin acts as a one-stop-shop for all types of crypto-related services.
Other popular non-UK exchanges that accept GBP deposits are:
- Coinbase Pro
- GBX Digital Asset Exchange
- Lykke Exchange
The key benefit of using popular exchanges like Bitfinex, Coinbase Pro or Kraken is that they support exchange GBP for Bitcoin with reasonable fees and liquidity, while less popular exchanges may lack it or charge more for their services.
If you're more interested in local (P2P) Bitcoin marketplaces, LocalBitcoins, LocalCryptos, BitBargain and Bittylicious will put you in touch with UK-based sellers. Here, you may even find people who are willing to buy or sell bitcoin for cash, which is great for private transactions.
From the technical side of things, buying Bitcoin in the UK is not different than most other countries. You will need to choose an exchange (read our reviews of exchanges here), create an account, and set up a cryptocurrency wallet.
Alternatively, you can use one of the Bitcoin ATM installations in the following cities:
Use CoinATMradar to discover all Bitcoin and altcoins ATM’s nearby.
Buying bitcoin in the UK - beginners guide
As you can see, there are many options for buying and selling Bitcoins in the United Kingdom, but finding the right platform for you may take some time. One of the simplest and most secure ways to buy bitcoin in the UK (and elsewhere in the world) is via the Xcoins platform. Here, you can buy bitcoin and other top cryptocurrencies using a Visa or Mastercard bank cards.
1. Sign up on Xcoins and verify your identity - it only takes a few minutes to get verified.
2. Set up a Bitcoin wallet. The safest way is to get a hardware bitcoin wallet by Ledger or Trezor. The easiest way is installing a software wallet on your phone or computer. We recommend checking out software wallets like Guarda, Electrum, Exodus, Green Wallet, Mycelium, or Edge.
3. Head to Xcoins and enter the amount for which you want to buy bitcoin.
4. Enter your bitcoin wallet address.
5. Enter your bank card details and complete the order.
That's it! Your payment should appear in your wallet within 15-30 minutes.
If you're interested in learning more about learning how to buy or sell bitcoin, how to use them in your business, or how it all works, check out our other Bitcoin guides here.