How to buy and sell Ethereum in the UK?
Ethereum’s emergence as the second most popular cryptocurrency has not passed unnoticed in the UK, with a growing number of people wanting to know how to buy Ethereum in the UK, sell it or trade with it. Despite its ambition to become a global currency, Ethereum (ETH) still does not enjoy equal level of support among various countries, leading to some limitations in the process of buying or selling it.
If you want to buy ETH in the UK, the safest course of action is to do it through crypto exchanges such as Coinbase, Bitstamp and Coinfloor. They will allow you to do it while charging a commission fee which you should check in advance. The first step is to create your account with them, which usually involves submitting documentation confirming your place residence and identity for the purpose of verification. Once you link this account with your bank account and check the supported currencies, you are good to go.
If you are a UK resident, you’ll have to consider that some of the banks there do not readily work with entities involved in crypto-related transactions. This is the reason why some of the crypto exchanges prefer to do their banking business from other EU countries. Be prepared to deal with charges related to Single Euro Payments Area (SEPA) and potentially prolonged transactions.
If you are wondering how to sell Ethereum in the UK, the same crypto exchanges are your best allies for that purpose as well, with your only responsibility being checking their fees, rates and currency support.
Peer-to-Peer platforms are another viable option if you want to sell ETH in the UK as well as buy it. They operate as virtual marketplaces based on a website which can connect you with local ETH sellers and buyers alike. With LocalEthereum, for example, you can buy ETH from people directly without fees and by using mutually agreed method of payment. Still, you’ll have to exercise caution here and double check your potential partners in order to avoid dealing with scammers.