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Business News›Industry›Banking/Finance›Finance›Where to Buy Bitcoin UK - 5 Best
Places

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WHERE TO BUY BITCOIN UK - 5 BEST PLACES

SECTIONS
Where to Buy Bitcoin UK - 5 Best Places
MediawireLast Updated: Jan 30, 2022, 10:40 AM IST

Buying Bitcoin in the UK is a simple process - with many cryptocurrency
exchanges now accepting convenient payment methods like debit/credit cards and
bank transfers.

You do, however, also need to consider whether or not your chosen exchange is
regulated and what fees you will be charged when trading.

In this article, we explore how to buy Bitcoin UK by reviewing five of the best
crypto exchanges of 2022.

Where to Buy Bitcoin UK - Top 5 Exchanges

If you’re wondering where to buy Bitcoin right now - consider one of the five
best crypto exchanges listed below.

1. eToro - Overall Best Place to Buy Bitcoin UK
2. Coinbase - One of the Best Bitcoin Exchanges for Beginners
3. Binance - One of the Best Crypto Exchanges for Trading
4. Huobi - Top Exchange for Asset Diversity
5. Mode - Safe UK Bitcoin Exchange App

Scroll down to read our detailed reviews of the above crypto exchanges.

Best Place to Buy Bitcoin UK - Top Exchanges Revealed

When choosing where to buy Bitcoin in the UK, not only do you need to consider
safety - but fees, user-friendliness, payments, minimum deposit requirements,
and more.

Taking this into account, below we review the five best crypto exchanges in the
UK right now.

1. eToro - Overall Best Place to Buy Bitcoin UK

For those wondering how to buy Bitcoin UK - you will come across many exchanges
that operate without a regulatory license. However, this couldn’t be further
from the truth in the case of eToro - which is both authorized and regulated by
the FCA. And as such, you can buy Bitcoin in the UK here in a safe, secure, and
regulated environment.

To open an account at eToro, it’s just a case of providing the exchange with
some personal information and meeting a small minimum deposit of $10 - or about
£7. You can fund your account instantly with a UK debit/credit card or an
e-wallet like Skrill or Paypal. UK bank transfers are also supported on the
eToro platform.

Once your account is funded, you can then buy Bitcoin in the UK for just $10. In
terms of fees, all GBP deposit methods cost just 0.5%. Moreover, you will only
pay the spread when buying and selling Bitcoin, which starts from 0.75%. In
addition to Bitcoin, you can trade over 40+ other digital currencies - such as
Ethereum, XRP, Binance Coin, Cardano, and more.

eToro also supports traditional asset classes, such as UK and international
stocks and ETFs, index funds, forex, and commodities. You can also access Copy
Trading tools at eToro. This allows you to trade passively, insofar that you can
copy the positions of an expert investor. SmartPortfolios are also offered -
with dozens of strategies to choose from.

Buy Bitcoin on eToro Now.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU
investor protection.

2. Coinbase - One of the Best Bitcoin Exchanges for Beginners

Coinbase is perhaps the best place to buy Bitcoin in the UK if you are a
complete novice. You can access Coinbase online or via the Android/iOS mobile
app - both of which offer a smooth user experience.

Once you open an account at Coinbase, you will have the option of buying Bitcoin
instantly with your UK debit or credit card. This is the easiest option but also
the most expensive - with Coinbase charging an all-in commission of 3.99%. To
save on fees, consider deposit funds via a UK bank transfer - which is free.

You will, however, still need to pay a standard commission of 1.49% once the
funds arrive and you proceed to buy Bitcoin. Coinbase offers lots of educational
resources - which is another reason why this exchange is popular with newbies.
Coinbase also offers plenty of other cryptocurrencies - so you can easily
diversify.

Buy Bitcoin on Coinbase.

Your capital is at risk.

3. Binance - Best Crypto Exchange UK for advanced trading

Binance is not only popular in the UK - but its 100+ million registered users
are based in all corners of the world. This cryptocurrency exchange is good for
low fees - not least because you will only pay a commission of 0.10% per slide.

Furthermore, if you deposit funds in crypto, you will only need to cover the
network fee. Binance is also a good option if you are looking to actively trade
digital currencies - as the exchange is home to more than 1,000+ markets. On the
flip side, Binance no longer offers direct debit/credit card deposits. As such,
you’ll need to go through a third party - which can cost up to 10% in fees.

Buy Bitcoin on Binance.

Your capital is at risk.

4. Huobi - Top Exchange for Asset Diversity

The next option to consider when learning how to buy Bitcoin in the UK is Huobi.
This platform is popular with traders that wish to access a wide spectrum of
cryptocurrencies - as you will find hundreds of markets here.

Huobi is relatively cost-effective too - with commissions starting at just 0.20%
per slide. Another benefit of using Huobi is that you will have access to
passive investment tools. For instance, its crypto savings accounts allow you to
deposit digital currencies to earn interest on your holdings. You might also
consider Huobi if you wish to trade via your smartphone.

Buy Bitcoin on Huobi.

Your capital is at risk.

5. Mode - Safe UK Bitcoin Exchange App

If you’re wondering how to buy Bitcoin UK via your mobile phone - Mode is a good
option. First and foremost, Mode is approved to offer Bitcoin brokerage services
to UK residents, so you can invest safely.

Moreover, the Mode app - which is available on both iOS and Android devices,
allows you to deposit funds via UK faster payments, which means that your money
will arrive pretty much instantly. The minimum amount required at mode is £50
and fees are competitive.

With that said, Mode only allows you to buy Bitcoin - as it does not support any
other cryptocurrencies. This will limit your ability to diversify your portfolio
- so do bear this in mind. Nevertheless, Mode is very user-friendly, so the
broker could be a good option if you are a beginner. Mode also offers top-rated
customer service via live chat.

Top UK Crypto Exchanges Compared

Check out the comparison table below to assess where to buy Bitcoin in the UK
right now.

How to Buy Bitcoin UK - Tutorial

If you’re wondering how to buy Bitcoin in the UK right now, the walkthrough
below will explain the required steps at top FCA broker eToro.

Step 1: Open an Account

First, visit the eToro website. Click the ‘Join Now’ button and enter your
personal information when prompted.

You will also need to enter your email address and mobile number.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU
investor protection.

Step 2: KYC

The next step is to complete the KYC process by uploading proof of address and
ID.

Step 3: Deposit Funds

You can fund your account with at least $10 via a UK debit/credit card, e-wallet
(Paypal, Skrill, Neteller), or a local bank transfer.

Step 4: Search for Bitcoin

In the search bar, enter ‘BTC’.

Next, click on the ‘Trade’ button.

Step 5: Buy Bitcoin UK

In the ‘Amount’ field, enter how much you want to invest.

Finally, click on ‘Open Trade’ to complete your Bitcoin purchase.

Should I Buy Bitcoin?

Bitcoin is a volatile and speculative asset - so ensure you consider the risks
before investing.

Volatility: Bitcoin is more volatile than traditional stocks or index funds.
Consider that the value of your investment can go up or down by over 10% in a
single day of trading.

Huge Returns: Although Bitcoin is volatile, it is also a top-performing asset.
Over the prior five years, Bitcoin has increased in value by over 3,200%.

Finite: There will only ever be 21 million Bitcoin tokens in circulation. This
makes Bitcoin a finite asset.

Decentralized: Bitcoin is not controlled by any single person or entity. This
decentralized framework ensures that the supply of Bitcoin cannot be
manipulated.

Conclusion

In summary, this article has explained how to buy Bitcoin in the UK and which UK
crypto exchanges and brokers to consider for the job.

The best place to buy Bitcoin right now is eToro.com - which is regulated by the
FCA and allows you to get started with just $10 (£7).

Buy Bitcoin on eToro Now.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU
investor protection. Your capital is at risk. Additionally, 68% 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.

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