Aug 28, · How and where to buy bitcoin in the UK There are many ways of buying in to the bitcoin boom. Dominic Frisby looks at the most common, and explains exactly how to buy bitcoins in the UK. A "satoshi" or "sat" is the smallest and the original unit of Bitcoin, equivalent to millionth of a bitcoin. Bitcoins can be split into smaller units to ease and facilitate smaller transactions. You do not need to buy a whole bitcoin. The satoshi was named after the founder, or founders, of Bitcoin and the block chain, known as Satoshi. Where to trade Bitcoin with a UK broker. The Good Money Guide is a London based guide to trading and investment accounts for clients based in the UK, Europe, Asia, South Africa and Australia. For more information on how this site makes money please find out more about us.
Uk based bitcoin brokers5 Best Bitcoin Brokers for Trading in
Thanks to the Android and iOS apps created by Coinbase company, it is possible to trade on the mobile phone with the same comfort. According to the official website of this broker, trading has evolved with its launch in Evolve Markets is a broker where users can trade Bitcoin and over 10 other cryptocurrencies as well as over 50 fiat currencies on different markets.
However, both deposits and withdrawals are accepted only in BTC and Litecoin and are free from fees. The minimum amount to withdraw is 0. It guarantees the ease of access thanks to MT5 Webtrader developed especially for this purpose. There is a web, desktop and mobile version of the trading platform for the comfort of every trader.
Unfortunately, US citizens are restricted to access it. It is possible to trade 45 cryptocurrency pairs on Evolve Markets. If you are a novice trader, it is possible to try a demo account, while registering on the platform, there is no need to pass through the identity verification. Trading fees depend on the trading platform Metatrader 4 or Metatrader 5 as well as the currency traded.
Crypto is traded with the fee of 0. Founded in , Simple FX is a non-regulated broker which is known for simplicity and power of trading. It is a CFD trading tool which can be accessed from any device including mobile ones — there are native apps for Android and iOS.
The platform is suitable for beginners as well thanks to the number of benefits it has. It allows for creating multicurrency accounts and does not set up minimum deposits. The utmost security is achieved due to 2-factor authentication, while the protection against negative balance will prevent users from poor consequences.
The platform can communicate directly with the crypto wallet of the user and there are no transaction fees. The number of withdrawal methods is smaller excluding Buy Crypto. The platform offers novice traders to open a demo account and try trading with play money, while the affiliate program suggested will help to increase profits too.
There is over a dozen of countries restricted on the platform, so check them before registering. What makes Plus broker trustworthy is the security level it provides. It is possible to trade not only on a computer or through the web version since there are mobile apps for user comfort too. Moreover, the broker provides negative balance protection, sends free emails and notifications on market events and alerts on percentage changes and price movement. There are over 2, tools to be used by traders while trading fees are quite low too.
The commission is absent since everything is included in the spread being a difference between the bid and ask prices. Most of the services provided by the broker are free for users, but there are additional trading fees applied to trading overnight, guaranteed stop loss, and inactivity fee. There is a possibility to earn thanks to the affiliate program too. One of the directions of Playtech is financial trading technology which is performed on Markets.
There are two types of trading supported: Forex and CFD ones. When it comes to trading fees, this broker can be referred to reasonably priced ones. The fees are built in a spread about 0.
The deposit and withdrawal fees are absent too, while funds can be sent to the platform from a debit and credit card, bank wire transfer, PayPal, Skrill, and Neteller. There are fixed spreads on trading pairs and a great number of tools. For example, there are charts with over 90 indicators for comfortable and successful trading. The broker supports 9 fiat currencies, 5 cryptocurrencies and many other trading assets about 2, in total — trading 55 pairs.
One more great benefit of this broker is powerful big data and quantitative analysis tools. However, if you are a newbie in trading, there is a free demo version to begin with. The website is available in 9 languages and there are high security and privacy standards. The platform is easy to navigate and offers alerts, email, and push notifications to set up. Customer Support is available via the chat, email, and phone, but you cannot reach it on weekends.
It was founded in and most of its employees are residents of countries of the former CIS. Nowadays, it operates in over countries, has licenses of 9 regulators and is a member of 4 trading platforms.
There are multiple financial instruments to trade on the platform and cryptocurrencies are among them too. It is possible to offer accounts of 4 types:. There is a unique feature of the broker called Alpari Cashback, where traders are given bonuses for any activity. It is possible to deposit money via bank wire transfers, credit and debit cards, electronic transfers, WebMoney, MoneyBookers, Qiwi, Yandex Money, Skrill, Neteller etc.
The affiliate program is supported by the broker as well. This broker features 55 trading pairs and offers the following benefits: narrow fixed spreads, no commissions, and a flexible minimum amount of the trading account. In addition to free tools to be used by traders, there is a great choice of platforms including Avatrader, MetaTrader 4 , Mirror Trader, Ava Mobile Trading etc. The most popular ways of depositing and withdrawing money from AvaTrade are credit and debit cards, bank wire transfers, PayPal, MoneyBookers, Neteller and others.
The platform also supports a demo account for novice traders and an affiliate program for extra earnings. There are certain restrictions per every deal but they are over several hundred thousand dollars. Despite the absence of trading commission, users must be ready to pay spreads, overnight interest calculations, maturity rollover fees, and inactivity fees.
Despite being a relatively new player in the trading market, Prime XBT calls itself number-one platform to trading Bitcoin and over 30 other assets.
The main aspect that differs this platform from others is a guarantee of leverage that never falls below This broker can be used both beginner and experienced traders thanks to its user-friendly interface and customizable layout.
There are multiple chart types, numerous indicators and drawing tools that allow trading directly from the chart. There is a mobile app for Android and iOS too. The broker charge a flat fee per trade as well as a daily flat fee for margin trading. Deposits are made in BTC and are free, though every withdrawal will cost users 0. There are also trading limits for every currency to consider.
The platform serves clients from over countries and supports 8 languages. The service also offers an easy-to-use leverage calculator for more accurate conclusions. BaseFEX is a broker for trading derivatives such as Bitcoin futures, for example.
The team of this company is located in Hong Kong, though it is registered on the Seychelles. All the trading pairs can be found lower next to multiple charts which can be helpful for traders. Being one of the popular Bitcoin brokers with low fees, the last one is considered to be a difference between the taker and maker fees.
There are no deposit and withdrawal fees too. Users of the platform will appreciate the Trade dashboard as well as over 50 different indicators to come in handy to them. There are 11 contracts offered and each of them is described in the smallest details for user comfort. The broker website can be accessed from the web or mobile app developed for this purpose.
It aims as traders of Asian countries predominantly, but the platform is being translated in several languages including not only English, Japanese, Chinese, Korean but also Russian, Turkish, Vietnamese and Portuguese to increase the number of users from other countries. Both experts and newbies can access this trading platform since in addition to multiple professional tools and indicators, there is a demo mode to learn trading.
Despite not taking trading fees, there are funding fees for open positions taking place within equal intervals of time — every 8 hours. One more way of earnings for a broker is a spread, the difference between the bid and ask prices.
Originally, it was the only way of trading, but now users can choose between a spread and a fee for every position opened. Withdrawals are free but require ID verification.
The broker supports trades of 9 crypto pairs in the form of perpetual contracts. It has added several new features since the release too.
There are all sorts of ways to do this. You could go to a formal exchange or you could go down the peer-to-peer route. When you're starting out, I'd recommend the peer-to-peer route. LocalBitcoins puts you touch with bitcoin buyers and sellers in your area. Buy your first bitcoins with cash, and you will have to meet with the seller.
It's likely you'll get a free lesson out of it. There's also Bittylicious , where you can pay by bank transfer: you are given the bank details of the seller, you transfer the money to them, the bitcoins are transferred to you. It's rough and ready but it works though, again, small amounts only while you're familiarising yourself with the tech.
BitBargain and Coinfloor are other peer-to-peer dealers, though I stress I haven't used them. Bitbargain has a nice tutorial video on their site, which is worth watching. Another option is to use a bitcoin ATM. There are now 72 in the UK. They're all over the shop in London, particularly around Shoreditch no surprise and Dalston, but also as far afield as Croydon and Ilford.
Deposit cash, put in your wallet address, receive coins. Believe it or not, I've never actually used one. There are also the exchanges. These are more formal operations, and more geared towards larger purchases though you can make small purchases too. Some accept credit and debit cards; others only bank transfers. Opening an account tends to be rather onerous in terms of paperwork, such is the bureaucratic world in which we live, but that is a journey you must travel.
A problem for UK exchanges has been trying to open a bank account and this regulatory hurdle has left the UK behind the curve as far as locals being able to buy bitcoins is concerned.
You'd think we'd be ahead of it, given all the noise George Osborne made about it a few years back when he was chancellor, but there you go. Many exchanges have had to use Eastern Bloc banks instead which has slowed things down. Bitcoin has hit a new record high — and this time the professionals are piling in too. Britain mulls a wealth tax again — can it ever work?
House prices boomed this year: but will that continue in ? Skip to Content Skip to Footer. Features Home Investments Alternative finance Bitcoin. Today, I will explain everything you need to know about where and how to buy bitcoin in the UK. Right that's the derivatives out of the way. Now let's tackle bitcoin itself. How to buy bitcoin The first stage of buying bitcoins is to get a bitcoin wallet. Derivative, exchange or peer-to-peer now you know: where and how to buy bitcoins in the UK.
Bitcoin has hit a new record high — and this time the professionals are piling in too Bitcoin. Bitcoin comes of age as a new inflation hedge Bitcoin.