This is a stepwise guide to help you understand how to buy Bitcoin in UK on different platforms. Here are our reviews and comparisons of different exchanges for the cheapest & best ways to invest in Bitcoin in UK.
Buying Bitcoin in GBP or Euro is supported on a handful of exchanges. However, there are over 300 payment methods, including banks and e-payment methods that support buying crypto using these currencies in the U.K.
Most electronic payment systems are instantly buying Bitcoin. However, most methods and exchanges require verifying your account whether you want to either directly purchase with these currencies or deposit fiat in crypto exchanges to buy Bitcoin.
Where a centralized crypto exchange does not support buying Bitcoin in GBP, Euro, or European payment methods, check whether that exchange has peer-to-peer trading supported. This type of trading lets peers trade crypto in more diverse ways and GBP, Euro, or both will always be supported.
Exchanges like LocalBitcoins also natively support peer-to-peer trading, so buying Bitcoin in the U.K. or in Euro and GBP is always possible.
What You Will Learn:
A Guide to Buying Bitcoins in the UK
This tutorial teaches how to buy Bitcoin in UK on different exchanges. It lists the most common exchanges people are using to buy Bitcoin in UK.
FAQs on Buying Bitcoins
Q #1) Can I still buy Bitcoin in the U.K.?
Answer: You can always use debit/credit cards, bank transfers, PayPal, SEPA, Simplex, Western Union, MasterCard, Klarna, and other payment methods to buy Bitcoin in U.K. Bitcoin and other cryptocurrencies are sold on a host of exchanges including Luno, eToro, Coinbase, Crypto.com, Binance, LocalBitcoins, etc.
Q #2) How do I invest in Bitcoin in the U.K.?
Answer: There are several ways to do this. You can use crypto or Bitcoin investment funds that sell stocks or crypto investment baskets, buy crypto tokens, and trade actively. You can also trade Bitcoin futures, ETFs, and other derivatives in stock markets.
Other ways of investing in Bitcoin are staking, holding, mining, and venture funding crypto companies.
Q #3) What is the best Bitcoin company in the U.K.?
Answer: In terms of trading, the best Bitcoin companies include eToro, Coinbase, Binance, Crypto.com, Luno, LocalBitcoins, and many others that support trading and other crypto investment methods.
Investment funds include CoinShares, eToro’s CryptoPortfolio, Grayscale Bitcoin Trust (GBTC), ARK Next Generation Internet ETF (ARKW), COINXBT & COINXBE, and GABI.
Q #4) Which UK funds invest in crypto?
Answer: There are many U.K. funds that invest in crypto, including CoinShares’ COINXBT & COINXBE, Grayscale Bitcoin Trust (GBTC), ARK Next Generation Internet ETF (ARKW), and GABI (Global Advisors Bitcoin Investment).
These funds monitor trends in digital markets and then invest in available assets. Investing in these is a great alternative for anyone searching for how to invest in Bitcoin in the U.K.
Q #5) What is the minimum amount to invest in Bitcoin?
Answer: This depends on the crypto exchange on which you want to trade. Most on the list have a minimum of $10. For investment funds, you might have to shell way up to $500 for eToro CryptoPortfolio and others from $1,000 to $50,000 on the minimum.
- There are nearly 475 cryptocurrency exchanges are involved in trading Bitcoin and other cryptos. There is no shortage of options if searching for how to invest in Bitcoin UK.
- Most exchanges, including those on this list, require you to verify an account before trading anything. Only LocalBitcoins and other peer-to-peer exchanges let you trade minimal volumes before that. These are not only the cheapest ways to buy Bitcoin in UK but also the best way.
- Purchases with credit and debit cards are the most expensive – up to 4.5% in transaction cost. Peer-to-peer methods are the cheapest since they have no deposit fees, but some exchanges on the list also offer free deposits.
- Some exchanges, including Coinbase, Coinmama, and LocalBitcoins, allow you to reduce fees by trading high volumes over time.
- Before choosing the platform, make sure you have a clear goal on what you want to do with Bitcoins. This could determine the platform to use to buy. You may want to trade actively or use speculative trading in futures or spot markets, buy more crypto or stock, or simply invest in additional products like staking.
List of the Best Exchanges to Buy Bitcoin in UK
Well-known cryptocurrency exchanges to invest in Bitcoins in UK:
Comparison Table of Top Sites to Buy Bitcoin in UK
|Name of exchange||Other financial products supported||Fees||Ratings|
|Coinbase||Only crypto.||ACH is free, SEPA €0.15 EUR, GBP Swift is free, Debit and credit cards 2.49%, crypto 0.50%.||5/5|
|Coinmama||Only crypto.||Curious loyalty level -- 3.90%, Enthusiast -- 3.41%, Believer -- 2.93%.||4.9/5|
|LocalBitcoins||Only crypto.||Charged only by the payment methods. Ads are 1% each.||4.7/5|
|Binance||Only crypto.||SEPA Euro 0%, 1.80% via Bank cards and 0.05% via Etana. Both are for GBP and Euro only.||4.7/5|
|eToro||Stocks, bonds, ETFs, ETPs, CFDs, etc.||Deposit is free. 1% buying commission.||4.6/5|
|Crypto.com||Only crypto.||0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, plus 2.99% for credit card purchases.||4.5/5|
Uphold allows users to buy Bitcoin instantly using credit and debit cards as well as Apple Pay and Google Pay. You can also use bank transfer and wire or deposit other cryptos and spend them to buy Bitcoin on the platform.
Cryptos are also instant depending upon the transaction verification for the specific crypto network that you are using. Bank transactions may take up to 7 days to complete.
Uphold also lets you exchange stocks, precious metals, and fiat to Bitcoin if you have them on the portfolio. Besides, you can earn up to 2% cashback for spending your Bitcoin balance to buy goods and services using the Uphold MasterCard at merchant stores.
- Multi-asset cross trading.
- Multi-asset portfolio tracking and management.
- Stake crypto and earn more just by keeping it in your wallet.
- Uphold MasterCard lets you spend crypto easily on ATMs and merchant stores.
- 2A verification among other security features.
Steps to buying Bitcoin in the U.K. on Uphold:
Step 1: Sign up and verify an account at Uphold website or mobile app.
Step 2: Visit the dashboard. Click or Tap the Transact button. Choose the funding source on the ‘From’ drop-down menu. Uphold lets you purchase Bitcoin with a credit card, debit card, bank account, Google Pay, or Apple Pay. Proceed to enter details of the chosen payment method and add it. Enter the amount.
Choose Bitcoin on the ‘To’ drop-down menu. Proceed to buy crypto.
Fees: 0.8% to 1.2% for Bitcoin and Ethereum and up to 1.95% for other cryptocurrencies. Between 2.45% and 3.99% may be charged for fiat payment methods (debit and credit card, Google Pay, Apple Pay).
Coinbase provides both retail and institutional accounts with which you can not only buy and sell but also buy cryptocurrency uk. The exchange lets you swap crypto for another or speculate on crypto prices using advanced trading tools. This includes charting. Besides, you can receive and store or hold nearly 160 crypto assets each in a separate wallet.
You can use the platform to move money instantly anywhere via crypto.
You can also deposit crypto to buy another crypto. Each of these methods has different fees, but with a Coinbase Pro account, you can reduce the fees. It is probably one of the best and cheapest ways to buy Bitcoin in the UK.
- Buy up to £250,000 worth using a bank account. You can withdraw from a UK bank account.
- Cashout up to 20,000 Euro or GBP per day via PayPal.
- Borrow BTC and other crypto-based on your wallet collateral.
- Spend crypto on any Visa outlet or ATM using a Coinbase Card.
- Stake crypto to earn regular income per given staked crypto.
Steps to buy Bitcoin in the UK using Coinbase:
Coinbase offers both a GBP and EUR wallet in the account. The ideal steps to buy crypto in the UK on most crypto exchanges are to open and verify an account, add a payment method, and then buy your crypto from the market.
Here are the detailed step-by-step guidelines:
Step #1: Sign up and verify an account: All customers are required to verify an account using ID documents like passports, driver’s licenses, and national IDs. You can create an account with by submitting a name, email address, and phone number, but you will need to submit documents to lift trading restrictions. It takes around two minutes to verify.
Step #2: Deposit or go to the market to buy: You can either start by depositing fiat or crypto with which to pay for crypto or click Buy/Sell or Trade to select the crypto to buy and then pay. Go to Settings, Payment Methods, Portfolios, Add Cash, then use the displayed info to send payment. To deposit with credit and debit cards, they need to support 3D Secure to fund the account. Visit the Payment Methods tab, select Link a New Account, Credit/Debit Card, fill in all the information and click Add Card. Based on the Payment Methods, you can also select other payment methods previously mentioned.
Step #3: Buy crypto: Click or tap Buy/Sell or Trade page, choose Crypto to buy, enter the desired amount, and proceed to choose a payment method previously added or to add a new one.
To swap crypto, visit the Spot Exchange by clicking on Trade, then choosing crypto pairs to trade. Place a limit or market order by entering the amount and choosing the type of order.
Fees: Deposit fees: ACH is free, SEPA €0.15 EUR, GBP Swift is free, Debit and credit cards 2.49%, crypto 0.50%.Trading with a regular account: 0% to 0.50%. With Coinbase Pro, from 0.60% taker and 0.40% maker fees for $0 -10K purchases to 0.05% taker and 0.00% maker fees for $500M+ purchases.
Coinmama lets you buy crypto with locally available methods. This includes VISA, SEPA, MasterCard, bank transfers, Apple Pay, Google Pay, and Skrill. In the U.K. you can use Faster Payments. It lets you cash out Bitcoin via bank transfer, credit, or debit card. It is probably the cheapest way to buy Bitcoin in the UK.
Coinmama does not provide a hosted wallet address in which to keep the coins being bought. Hence, they do not have portfolio management tools except that you can track your purchases from your account. However, they have introduced the White Glove Service, with which you can build up to $100 million in portfolio value.
- Verification Level 1 — Buy up to 25,000 USD or GBP equivalent per day using a credit or debit card. With a wire transfer, you can buy and sell up to 150,000 USD or GBP equivalent per day. Level 4 has no limits.
- Some buying methods are instant.
- Fees depend on loyalty level.
- Learn more about crypto at the academy.
Steps to buy Bitcoin using Coinmama:
Step #1: Create and verify a Coinmama account: The initial sign-up requires an email and name details. There are levels of verification that determine trading limits. It takes 15 minutes to verify level one.
Step #2: Place an order: Click Buy, then Bitcoin or other cryptos, enter a crypto amount to buy or a fiat amount to spend on buying crypto. Enter your Bitcoin wallet address. Complete payment.
You need a crypto wallet created on another app or website.
Step #3: Proceed to pay: After placing an order in step 2, you will be directed to choose a payment method. The difference between the methods is the limits, fees, and time it takes to complete a purchase.
Fees: Buying and selling Bitcoin in the U.K.: Curious loyalty level – 3.90%, Enthusiast – 3.41%, Believer – 2.93%.
LocalBitcoins lets you sell and buy Bitcoin with local currency and through easily available methods. Countless methods are supported, including cash, PayPal, Western Union, Credit Card, bank transfer, Payoneer, Revolut, and Neteller. Some methods are quicker to buy and sell through, but others, like bank wire, take time. It only supports the buying of BTC and no other cryptos.
Nevertheless, LocalBitcoins uses a different model than centralized exchanges. It lets peers trade directly with each other by broadcasting their buy and sell orders on the platform.
A buyer or seller can sieve through the seller or buyer listings based on the country, payment method, crypto wanted, or fiat currency to use to pay or sell. You can opt to create a buy order listing or buy from the listings.
- Buy Bitcoin in the UK securely by first having the seller send it in an escrow so they can’t withdraw after paying if you dispute a trade.
- Use custom payment methods to buy Bitcoin without any trading limits for Tier 3 verification.
- Trade anonymously for up to €1000 annually – Tier 0 verification requires email, phone, and country details.
Tier one trades up to €20 000 after ID and selfie verification. Tier 2 up to €100,000 annually with proof of address verification.
- Crypto trading guides are provided.
- Works only over the web as well as mobile iOS and Android apps.
- Buyer and seller ratings.
- Secure account with 2F authentication.
Steps to buy Bitcoins on LocalBitcoins.com:
Step #1: Create an account: Verify through Tier 1, 2, and 3 if you desire to trade without limits.
Step #2: Click on quick Buy: From the drop-down menu, this option lets you sort out seller listings based on the payment method, fiat currency to pay with, country, or just the custom amount. Click search once you are through with the entries.
Step #3: Create a buy advertisement: This is an option to buy from listed buyers or ads. You create a listing expressing of desire to buy crypto using your preferred terms and conditions. Visit the Create Advertisement page and proceed to enter details of the buy order. It will be broadcasted to other sellers. You can promote it by paying in Bitcoin.
Fees: Buying and selling Bitcoin is free – only pay transaction fees and charges by the payment method platform used. Ads are 1% each.
Binance is the largest crypto exchange in terms of daily trading volume of over $70 billion by its over 90 million users. It offers very aggressive options for investing in Bitcoin and over 600 other digital assets in the UK. For instance, you can stake, mine, and even invest in new tokens. That is, in addition to trading them on the spot and derivative markets.
For those wanting to buy Bitcoin in the U.K., Binance lets you spend fiat through debit and credit card, bank wire, SEPA, Simplex, Western Union, and Yandex – over 60 payment options in total.
- Buy Bitcoin in the U.K. using over 150 payment methods on the peer-to-peer platform.
- Hold, send, receive, and manage over 600 crypto coins in addition to buying and selling them.
- Sell crypto for fiat using locally available methods and receive local currencies as your preferred method.
- Binance Pay Visa Card.
Steps to Buy Bitcoin on Binance:
Step #1: Register and verify the account: Binance only allows limited transactions anonymously without KYC verification. That would ideally be an amount lower than $1,000. Otherwise, it will only take 15 minutes to verify the account.
Step #2: Tap or click Buy when logged in: This allows you to select the crypto you desire to purchase. The buy button is also available against each crypto on the crypto listing on the homepage. Enter the amount to buy.
Step #3: Add or select a payment method: If you haven’t added any method, now is the time. The buying steps above will direct you to the payment page. Select your card or other then enter the payment details as required. The cash balance option is useful if you have already deposited fiat on the platform and a balance appears on your account.
Fees: SEPA Euro 0%, 1.80% via Bank cards, and 0.05% via Etana. Spot trading fees from 0.1% maker and taker fee for a 30-day trading volume of below $1 million to 0.02% maker and 0.04% taker fee for a volume equal to or more than $5 billion. 25% off all fees when paying with BNB.
eToro is one of the best sites to purchase bitcoin in the U.K. It lets you trade crypto as well as stocks, bonds, ETFs, CFDs, investment funds, and many other financial instruments from one account.
In addition to buying, selling crypto with fiat, and swapping crypto with others, you can leverage copied trading signals from expert traders or build your own strategies to trade on the spot or in derivative crypto markets.
eToro lets you buy Bitcoin using Credit/Debit Cards, PayPal, Neteller, Skrill, Rapid Transfer, Ideal, Poli, Online Banking – Trustly, Sofort, or Klarna, all of which are instant to buy crypto. Other methods acceptable for buying Bitcoin in the UK on eToro are SEPA and bank transfers, which take up to 4 days to complete.
- Buy over 120 digital assets and diversify to investing in traditional fiat economies, including investment portfolios.
- Buy Bitcoin in the U.K. for up to $40,000 with a credit card and a debit card. iDeal is $50,000, Sofort $30,000, while Bank transfers have an unlimited amount per transaction. Limits on Skrill, PayPal, and Neteller are $10,000 each. Rapid Transfer $5,500.
- Set automatic recurring deposits to your eToro account.
- The minimum deposit amount is $10 for the first time, then $50 for subsequent. The wire is $500.
- Leverage trading signals and your own analysis to trade crypto on the spot or CFD markets.
- Convert crypto to fiat and withdraw via bank or your preferred method.
Steps to Buy Bitcoin on eToro:
Step #1: Create and verify an account: Verifying by providing Proof of Identity (POI) and Proof of Address (POA) by uploading relevant documents is mandatory to use the account. It will take a few days to verify the account. No trading is allowed without verification.
Step #2: Deposit: The limits on deposit amounts for different payment methods are shown in the features section of this eToro review.
To deposit with a bank, visit the Deposit page of your logged-in account, enter an amount, and continue. It will reveal the banking details to which you should send the amount.
For U.K. deposits via wire transfer, choose the option from the Payments option on the Deposit page, choose the right currency, and record the wire transfer details. Head over to your bank and wire the money. Enter the username and transaction reference number in the Payment Details field and upload a copy of the SWIFT document to the customer service link provided.
To deposit with a credit or debit card, choose the credit/debit card option in the payment methods menu on the Deposit page, and enter details. The same case applies to PayPal, Neteller, Skrill, and other methods supported.
See the website on how to deposit using Poli, Trustly, iDeal, Rapid Transfer, and custom corporate methods.
Step #3: Buy crypto: After depositing, you must first transfer money to the trading account from the eToro Money account. Buying crypto on eToro is easy. You can search for the crypto from the search menu and click Buy. Alternatively, click Cryptocurrencies and select the crypto and click Buy. Choose the payment method you used to deposit funds.
Fees: Deposit is free and buying Bitcoin in the U.K. on eToro costs 1% in commission. The withdrawal fee is $5. Other fees may apply when converting from one fiat currency to another.
Crypto.com lets you buy Bitcoin in the U.K. using a bank account and credit and debit cards. You can also use electronic payment systems like PayPal and this makes it one of the best sites to purchase bitcoin in the U.K. The exchange also has a branded crypto Visa card called Crypto.com Visa card that lets one purchase and instantly convert and spend crypto at Visa merchants.
This is not just one of the cheapest ways to buy Bitcoin, but also one of the best ways to buy Bitcoin in the UK.
- Stake crypto and earn up to 14.5% annual rewards depending on crypto staked.
- Lend and save.
- Over 250 cryptos are supported for buying and active trading with detailed charting.
- In-built crypto token called CRO.
- Pay and get paid for goods and services in crypto.
Steps to buy Bitcoin in the U.K. on Crypto.com
Step #1: Sign up for an account: You must also verify the account before buying and trading.
Step #2: Add a payment method: Go to the Card page, tap Top Up, select Credit Card, tap Add Credit or Debit Card or other methods, input the information required and confirm the transaction. You can also deposit other cryptos to spend to pay for buying Bitcoins.
Step #3: Buy Crypto: Visit the Buy page, choose crypto, and proceed to pay with deposited crypto or fiat.
Fees: 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, plus 2.99% for credit card purchases.
Gemini is a regulated U.S.-based crypto exchange that lets you trade over 50 cryptos against each other or buy and sell them for fiat. Although Gemini is available in select states in the United States, it offers a simple interface for beginner crypto traders.
The Gemini Clearing and over-the-counter trading portal allow traders to trade on a peer-to-peer basis with each other without minimum trade limits and at market competitive pricing. Again, this makes it one of the best sites to purchase Bitcoin in the U.K. The trades and details are not published on the platform, hence it is anonymous.
Other products include custody and APIs.
- Use the upcoming Gemini Mastercard Credit Card to buy goods and services using crypto in your wallet account, at merchant stores globally. Earn rewards on purchases. The card is yet to be launched.
- Earn 8% per year on Gemini Earn in which you simply send and hold cryptos.
- Regulated by the New York State Department of Financial Services.
- Buy and sell NFTs – It provides the Nifty Gateway platform to facilitate secure holding and trading of NFTs.
- Cryptos are stored in cold wallets. Insurance coverage for crypto assets.
- Gemini stable coin Gemini Dollar.
- Instantly buy Bitcoin in UK. using credit and debit cards, as well as ACH. Wire takes time.
- Withdrawal limits of $100,000 daily via ACH, and an unlimited amount via wire transfer.
Steps for buying Bitcoin on Gemini:
Step #1: Sign up for an account: Gemini requires you to verify the account in order to withdraw or send crypto to other people. Visit the My Account tab, click or tap Verify your identity, and proceed to upload your identity document. This will take a few minutes.
Step #2: Link payment method: Adding the methods is done by navigating to the Funding Sources or Payment methods page. Add your billing address and other credit and debit card details. You can also add a bank via the Automatically linked bank page. The exchange also supports ACH transfers.
You can also deposit other cryptos and spend them to buy Bitcoin on the exchange.
Fees: From 0.35% taker, 0.25% maker, and 0.25% auction fee for $0 30-day volume to 0.03% taker, 0% maker, and 0% auction fees for $500 million 30-day trading volume and above.
The deposit method fee applies (wire is free, crypto is free, while the debit card is 3.49%). Mobile and web order placement transaction fees apply separately (fee is 1 Eur to 3 Eur for order amounts of between 10 to 200 Eur). API order placement fees apply separately.
Luno lets you buy, sell, and crypto but can also send it to others at no cost. The crypto exchange provides wallets and these are secure to hold crypto because 95% of all holdings are kept in cold storage. The exchange platform lets you trade 25 digital currency pairs, including BTC, Litecoin, Ethereum, and Ripple XRP.
Luno offers deep liquidity to ensure spreads are tight. Thus it is a great choice for those looking for where to buy bitcoin UK. The intuitive exchange is based on a centralized order book on which you can choose a trading pair, enter an amount, and place a limit or market order. Luno offers hosted wallets for sending, receiving, and holding crypto.
Luno lets you buy crypto with a credit card or debit card as well as a bank account.
- APIs to integrate the exchange with other products, manage accounts with bots, trade with external tools, or retrieve market data.
- Deposit limits vary from 1,000 Euros overall time for Level 1 verification; to 5,000 Euros per month for Level 2. Level 3 has no limit. Withdrawal limits vary from 1,000 Euros to 5,000 Euros.
- Buy Bitcoin in UK for up to 100,000 Euros instantly.
- Hold value in USDC stable coin.
- Automated crypto buying and investments.
- Quick withdrawals.
- Luno Discover – news, trading info, insights, updates, and basics of crypto.
- Mobile (iOS and Android) as well as a web platform.
Steps for Buying Bitcoin on Luno:
Step #1: Create and verify an account: Submit initial details and then extra verification details by clicking on the Profile, Settings, and Verification pages.
Step #2: Depositing fiat: Select Wallets, then USD wallet, select Deposit, add a credit card, or other payment methods. Follow on-screen prompts to deposit.
Step #3: Buy crypto: Select Wallets, select Bitcoin or crypto you want, click Add new wallet if no wallet is visible here, then click Buy. You can decide to do a one-off or set recurring purchases. Choose the Euro or currency to pay with, enter the amount to buy, choose Frequency or repeat date, then Next, then confirm.
Fees: GBP bank deposits and withdrawals are free. GBP instant buying and selling fee is 1.5%. The crypto/fiat pair is trading from 20 to 100,000 Euros for BTC. Trade fees — 0% maker fees in all cases, taker fee 0.1 for up to 250,000 Euros 30-day trading volume to 0.05% for tier 6 with 4 million to 8 million Euro 30-day volume.
The best places where and how to buy Bitcoin in the UK are Coinbase, where ACH deposits are free, SEPA is €0.15; eToro where the deposit is free; and on LocalBitcoins where deposits are also free, if you are considering the cost.
However, Coinbase, Gemini, Crypto.com, and eToro beat them all regarding spending crypto on your wallet. They each have a branded crypto Visa or MasterCard debit card for that. This allows for auto-conversion of crypto to fiat.
LocalBitcoins is the best peer-to-peer trading platform on the list.
- Tools initially listed for review: 15.
- Tools finally reviewed: 8.
- Time is taken to research and write this tutorial: 15 hours.