Buying Bitcoin in the UK is a breeze. There are numerous platforms at your disposal to convert traditional currency into Bitcoin, and even other cryptocurrencies.
Several methods exist for converting fiat money into Bitcoin, and the UK stands out as one of the most crypto-friendly markets worldwide. Most options require a bank account, though some allow for cash-only transactions.
Be aware that the cost of Bitcoin may fluctuate based on your purchase method, so it's important to keep an eye on both the current market value and the offer price.
Crypto Platforms for Purchasing Bitcoin in the UK
For many, the easiest method to acquire Bitcoin in the UK is via a crypto exchange. These platforms conduct Know-Your-Customer (KYC) checks, but if you have a UK bank account, supplying the required details should be simple.
Coinbase
Coinbase is a globally renowned crypto exchange where UK users can purchase Bitcoin with ease through its user-friendly interface.
Like leading crypto exchanges, Coinbase requires comprehensive KYC checks before you can make crypto transactions. The platform supports credit/debit card purchases and bank transfers in EUR and GBP.
Kickstart your journey by signing up for a Coinbase account.
You will then have to:
- Complete the Photo I.D. Verification process on Coinbase.
- Navigate to the ‘Add Payment Method’ and select ‘Card’ from the options available.
- Authorize Coinbase to conduct two small verification transactions on your card.
- Check your bank or credit account for the transactions Coinbase made and input the information.
Coinbase applies a flat fee of 3.99% for all credit or debit card transactions. This might make bank transfers more appealing for larger purchases. Choose the ‘Card’ option in the ‘Buy/Sell’ section of your Dashboard to purchase Bitcoin with a card.
Decide on the amount of Bitcoin you want to purchase, and it will be billed to your card and subsequently credited to your Coinbase account. You can then transfer it to a hardware wallet or use it for trading.
Read our full Coinbase Review For deeper insights, we've conducted a comprehensive review at this location. Coinbase’s security measures here .
CEX.io
CEX.io is a UK-based platform allowing Bitcoin purchases through credit/debit cards and bank transfers. Open an account, complete a KYC check, and start buying Bitcoin or other supported cryptos.
Once you've registered with CEX.io, fill in your card details and upload a selfie holding your card next to your face. Also, attach another photo of your I.D. beside the card's front.
Submit the security code from your card's back into the platform’s provided text field. CEX.io will notify you of a small charge to your card, which you can confirm via online banking or text from your bank.
Use the platform's field to input the exact charge amount, then complete the application. Await a compliance review from CEX.io.
When CEX.io approves your card and I.D., you're free to buy Bitcoin instantly. Purchased Bitcoin deposits into your CEX.io exchange account, which you can then transfer elsewhere at your discretion.
Alternatively, funding via bank transfer is possible, although potentially pricer for smaller transactions, depending on your bank's charges.
Read our indepth CEX Review here to learn more.
Coinmama
Coinmama takes a unique approach to buying Bitcoin in the UK by simply sending purchased Bitcoin directly to your wallet, bypassing exchanges.
Beginners to cryptocurrencies might prefer using exchanges initially until they're comfortable storing Bitcoin on dedicated hardware wallets or other types.
For those familiar with wallet management, Coinmama offers a good option in the UK. After clearing a standard KYC check, you can buy Bitcoin using credit/debit cards, delivering the Bitcoin direct to the wallet you specify. Coinmama’s services carry a 5% fee, and KYC completion could take a few days.
Coinmama suits those looking to buy Bitcoin via credit/debit card without needing an exchange.
For individuals preferring bank transfers for Bitcoin purchases in the UK,
Read our complete CoinMama Review here .
Binance Jersey
could be your answer. Binance Jersey, a part of Binance, is tailored for UK users. Binance Jersey Purchasing Bitcoin on Binance Jersey is simple.
Simply create an account and complete the KYC process. With Binance Jersey, authorization can occur in under an hour.
Once set, proceed to Resources > Deposit, then select GBP.
Enter your bank transfer details and deposit amount. Afterward, receive a form for your bank to initiate the transfer.
Have 20 days post-entry to complete the transfer to your Binance Jersey account. Afterward, the transfer completion updates your Bitcoin balance, which you can trade or transfer.
Binance Jersey offers zero fees for cash deposits, a big plus for users preferring bank deposits. You can also sell your cryptos, with deposits directly credited to your bank account.
Changelly provides UK crypto owners a super speedy, straightforward method to swap cryptos and allows Bitcoin purchases via credit/debit cards.
Read our full review of Binance Jersey
Changelly
UK residents can register at Changelly, buy Bitcoin after basic KYC checks, with progressively increasing monthly purchase limits, with unlimited purchases possible after one month.
Beyond purchasing options, Changelly offers favorable rates for crypto swapping, making it easy to buy Bitcoin in the UK then exchange it for another crypto.
Changelly enables you to hold cryptos on its platform or transfer them to another exchange or wallet—a user-friendly solution for buying Bitcoin in the UK.
Wirex offers banking solutions enabling Bitcoin purchases in the UK, treating it like fiat currency. If you're considering cryptos as the future, Wirex might be worth exploring.
Read our full review of Changelly
Wirex
Opening an account with Wirex facilitates seamless Bitcoin purchase for your Wirex wallet, which you can utilize with a Wirex debit card, akin to a conventional bank card. Unique to Wirex, you earn a 0.5% Bitcoin cashback on in-store purchases.
Funding your Wirex wallet is straightforward. Besides local UK bank transfers, Wirex accommodates Alipay, PayPal, and various popular payment platforms.
Like many modern banking alternatives, Wirex provides a sleek iOS and Android app for account management and spending tracking.
Another standout feature by Wirex is its ability to send and receive Bitcoin directly from your account, facilitating quick and easy transfers to exchanges or wallets.
Wirex is an intriguing platform for anyone interested in acquiring Bitcoin in the UK to use instead of traditional currency.
Not everyone prefers bank cards or wire transfers to purchase Bitcoin in the UK. Some methods allow for Bitcoin acquisition outside the banking system, offering greater anonymity.
Read our full review of Wirex
Other Options to Buy Bitcoin in the UK
LocalBitcoins has been facilitating peer-to-peer Bitcoin transactions for years. Unlike traditional exchanges, LocalBitcoins sellers set their own pricing structures, often resulting in higher prices.
LocalBitcoins
Occasionally, LocalBitcoins buyers can arrange in-person cash transactions. Sellers must maintain a reputable profile for completed deals and fair Bitcoin pricing.
If dealing with banks is within your comfort zone, the aforementioned platforms may be more suited for buying Bitcoin in the UK. However, LocalBitcoins opens doors to varied transaction types, including barter for cryptos!
For totally bankless, human contact-free Bitcoin buying,
Read our full review of LocalBitcoins
Crypto ATMs
may be the path. However, locating a Bitcoin ATM is necessary for the transaction. Bitcoin ATMs A Bitcoin ATM functions simply: Visit an ATM in a public setting and exchange fiat currency for Bitcoin credited to a desired address— seemingly offering a high anonymity level.
Navigating Bitcoin Purchases in the UK: A Detailed Guide for 2021
Buying Bitcoin in the UK is a breeze, with a plethora of platforms available to help you transform your money into Bitcoin.
A Thorough Guide to Acquiring Bitcoin in the UK
Which Method of Buying Bitcoin in the UK Suits You Best?
Here's a comprehensive roadmap to buying Bitcoin with debit/credit cards or through a bank transfer within the UK.
The process of purchasing Bitcoin in the UK is straightforward, with numerous platforms ready to convert your traditional currency into Bitcoin and other digital currencies.
There are a plethora of methods to trade your traditional currency for Bitcoin, and the UK stands out as one of the friendliest crypto markets worldwide. Most Bitcoin acquisition methods require a bank account, though there are options for cash transactions as well.
