Whether or not Bitcoin is a good investment depends on your investment objectives. You can read more about our research on cryptocurrency scams here. You can drill down to surface a token or coin from the platform’s markets view, which displays a heat map of the available asset classes. At the same time, you can monitor live order books buy bitcoin in the uk and stream time and sales data to keep up to speed with market trades.
Does Bitcoin Halving Increase BTC’s Price?
So, in this guide, I explain how to buy Bitcoin safely in the UK using FCA-regulated providers who must treat customers fairly. Despite recent market volatility, cryptocurrencies seem to be enjoying a new lease of life, and there is growing interest among both professional and retail traders. That is perhaps driven in part by a change of heart among US regulators and moves by the White House to establish a US national cryptocurrency reserve. If I’m honest, I’m unconvinced by the whole “crypto as an investable asset class” idea because I think crypto is? So when deciding what cryptocurrency to buy on Kraken (there are over 300 of them) I turned to the most rampant ramping source possible, TikTok. I Googled how to search for the most popular cryptos on TikTok and the first video was of a teenager very convincingly talking about the best cryptos to buy during a market crash.
Buying Bitcoin: Risk vs Rewards
They often offer faster transactions, lower fees, or different use cases. Alt and meme coins can diversify your crypto portfolio, but they also carry higher risk. After making your bitcoin purchase, don’t leave it sitting on the exchange—it’s safer to transfer it to a personal wallet. Exchanges can be hacked, and securing your crypto is your responsibility.
History of Bitcoin Prices
You can also visit a reputable ATM and find a seller who’s willing to meet and exchange cash for BTC. In addition, UK investors must be diligent in keeping records and understanding their tax obligations related to capital gains. As you set sail on your crypto journey, remember to equip yourself with knowledge, prudence, and a keen eye on the regulatory horizon. Once you’ve decided on an exchange, the first order of business is to open an account. Most exchanges these days give you two options — open an account through your email address or your mobile phone number, whichever is more convenient.
While crypto itself isn’t regulated in the UK, some crypto exchanges like eToro and Uphold are registered with the FCA. Despite the hurdles, there is still a way for UK residents to embark on their crypto journey. By choosing FCA-regulated exchanges, investors can ensure compliance with the regulatory framework, allowing for the safe and secure buying of crypto.
Step 4 – Store your Bitcoin
The UK has actually committed to becoming a global cryptoasset technology hub, in an attempt to become a world leader in crypto and blockchain technology. If you made a large profit on your bitcoin, you might have to pay tax. A great feature exclusive to eToro, is allowing you to follow other investors, learn from them and even copy their trades.
This strategy can work if you’ve done your research and feel confident about the current price level. You can see my guide on crypto wallets in the UK here to help you with this step. They will notify you if everything is in order or if you need to fix pertinent issues. After successfully verifying your account, determine the safest and most convenient way to top it up. While doing so, keep in mind the funding methods that your chosen service provider supports. Bitcoin, a crypto asset that once cost less than $1 per coin, is now worth tens of thousands of pounds.
- This includes exchanges, digital wallets, mobile applications, and online sites where you can purchase it.
- Payment methods, such as bank transfers, credit/debit cards, or e-wallets, influence both cost and convenience, so ensure the platform supports your preferred option.
- In early 2025, Kraken received a MiFID regulatory licence to buy and sell crypto derivatives within the European Union (EU).
- They have some of the cheapest rates in the industry, with fees starting at 0.1%, making it affordable for their users to trade with diverse tokens.
- Which looked like it had been ramped towards the end of 2024 but was now trading on what technical analysts would call “support” although I don’t think that is necessarily relevant here.
Some investors believe there is still potential for growth, while others may be more cautious due to market uncertainty, regulatory changes, or competition from other digital currencies. It’s essential to conduct thorough research, understand the risks, and consider your own financial situation before deciding to invest in Bitcoin. You may also want to consult with a financial advisor to ensure that investing in Bitcoin aligns with your overall investment strategy. Storing Bitcoin in a crypto exchange account is convenient because you can quickly trade Bitcoin or buy more. Additionally, you won’t have to learn how other crypto wallets work. However, storing Bitcoin on an exchange can be risky, as your account and the exchange can be vulnerable to hacks and other security breaches.
- Most crypto exchanges mimic the same features as traditional stock brokerages.
- To comply with UK regulations, you’ll need to complete the KYC (Know Your Customer) process.
- You can learn more about wallets by reading about the types of crypto wallets available or how hardware wallets work before deciding on whether you need one.
- Additionally, Coinbase offers a user-friendly interface, making it accessible to both novice and experienced traders.
How to Buy Bitcoin in the UK
Solidi only lets you trade four tokens — BTC, ETH, Ripple (XRP) and Litecoin (LTC). Turning to fees, the exchange charges a £0.50 withdrawal fee if you withdraw GBP. For more information, you can head over to the Solidi Fees page. It’s worth looking around when purchasing Bitcoin to make sure you are getting the best deal.
New UK Regulations for Exchanges
However, the FCA and the Bank of England have issued warnings and guidance about their use. Bitcoin is (again) attracting much attention due to the current economic and political environment. Kraken uses a maker-taker fee schedule with volume incentives based on your activity in the past 30 days.
Coinbase is one of the most popular platforms for buying Bitcoin in the UK. Known for its ease of use and high security, Coinbase is ideal for beginners who want a straightforward experience. Always double-check the fee structure before making a transaction.
This is a way for you to interact with the network and send and receive bitcoin. It’s like a mini bank account on the blockchain, and inside is your money. There’s bank grade security, and they have their own insurance, which pays out if something happens to the company. And, most of the crypto on exchanges are actually held in ‘cold storage’, which means they’re in wallets that have never touched the internet, and so cannot be hacked or compromised. In the UK, crypto exchanges need to be authorised by the Financial Conduct Authority (FCA), which regulates financial services.