Then, in June 2023, the UK passed legislation to legitimize crypto in the country, giving regulators broad power to bring crypto and stablecoins into the scope of regulation. The bill, first introduced in July 2022, treats crypto as a regulated activity and supervises crypto promotions. Managing Editor, Tech Journalist, and Financial Market Analyst. Darren has over four years of experience as a market commentator and two as a journalist.
For the best information, visit the UK official government website regarding this matter. For simplicity, the table calculates buying £1,000 worth of Bitcoin and holding for 30 days. If you are looking for the best crypto apps in the UK, you will find out some crypto apps that allow you to trade from anywhere as long as you have an internet connection. They come with the same features you’d find on a desktop, like spot trading, depositing, and leveraging.
- Learn to start small, conduct proper research, and cheaply invest in Bitcoin without overspending fees.
- Bitcoin and other cryptocurrencies are not regulated in the UK and are legal to trade and hold.
- By choosing one of the best platforms to buy Bitcoin and following best practices for security, you can confidently begin your investment journey in the exciting world of cryptocurrency.
- Solidi builds itself as the UK’s “easiest and safest exchange” but the user interface leaves a bit to be desired.
- You can legally buy bitcoin in the UK, and it’s legal to use the Bitcoin technology (blockchain) and the coin (currency) to make payments and money transfers.
Coinbase, Bitpanda, and Uphold.
You will be able to hold USD in addition to cryptocurrencies in a dedicated Paxos account with access to 24/7 trading and place non-marketable buy limit orders. Firstly, rewarding Bitcoin miners for validating transactions on the Bitcoin network. Once a “block” has been mined, it’s added to the blockchain ledger, an immutable record of all transactions that occurred on the network. Lastly, not all banks allow you to purchase Bitcoin by credit card.
- Uphold is a great choice for UK-based users who are looking to buy, sell, and trade cryptocurrencies.
- Coinbase utilises industry-standard practices such as two-factor authentication (2FA) and cold storage of digital assets to minimise the risk of hacking and unauthorised access.
- However, right now, PayPal’s crypto purchasing service is temporarily paused while the company updates its system to comply with new UK regulations.
- As of July 24, 2025, there are 19.90 million bitcoins in circulation.
eToro
Click the signup or register button and submit the requested information. The details you’ll have to share will depend on the exchange you choose. However, in most cases, you’ll be required to submit a working email address and your name, then secure your account with a strong password. Since Bitcoin’s price is never constant and can fluctuate wildly within a few days, you can trade this asset and earn handsomely.
To begin buying bitcoin and other cryptocurrencies you will need to link a bank account or credit card to the exchange. Kraken is one of the oldest and most reputable cryptocurrency exchanges, offering a wide range of cryptocurrencies and advanced features for professional traders. Binance is a globally renowned exchange that offers low fees and an extensive range of cryptocurrencies, including Bitcoin. It’s perfect for more experienced traders who are looking for advanced features. P2P platforms connect buyers and sellers directly, bypassing traditional intermediaries.
GUIDES
As Darren’s experience in the blockchain industry has grown, so has his ability to spot stories, build industry contacts, and maintain a factually accurate standard of reporting. As Bitcoins popularity continues to increase so does the number of people asking – ‘How do I buy Bitcoin? ’ As it stands the process of purchasing Bitcoin can alter slightly depending on which country you live in. In this article, we will cover specifically how to buy Bitcoin as a UK resident. However, if you are happy to leave your Bitcion on an exchange you do not need a Bitcoin address. Here are five ways to reduce risk when buying Bitcoin in the UK.
Learn to start small, conduct proper research, and cheaply invest in Bitcoin without overspending fees. He is a personal finance expert and writes about trading, investing, budgeting, and other financial topics. With low fees, eToro is one of the safest and easiest options for beginners as well as more experienced investors. Additionally, the average crypto holdings among British adults have risen from £1,595 to £1,842, indicating a growing interest in cryptocurrency investments. But otherwise, I’d leave this to the more experienced traders, as it requires time, technical analysis skills, and a strong understanding of market trends. If you’ve got a large amount of fiat currency ready to go, you might choose to invest it all at once.
Comprehensive Step-by-Step Guide
If you´re interested in trying the Gemini crypto exchange for yourself, check out our in-depth review. However, right now, PayPal’s crypto purchasing buy bitcoin in the uk service is temporarily paused while the company updates its system to comply with new UK regulations. So, at the moment, PayPal is not an option for those in the UK who are looking to buy the digital asset.
It also supports several payment options, including PayPal, debit and credit cards, Apple Pay, and Google Pay. A P2P trading option adds flexibility for those seeking to negotiate purchases directly. OKX is known for its low fees, making it an excellent option for investors who intend to buy Bitcoin. The best way to buy Bitcoin in the UK is through a regulated cryptocurrency exchange like eToro, Coinbase, or Kraken. Users can fund their accounts via bank transfer, debit card, or credit card, ensuring compliance with AML and KYC regulations.
Trade Smarter, not Harder
With bitcoin and cryptocurrencies in general, you can use the same calculation to work out its market cap too – and therefore have a valuation for the whole project or coin. Remember this is only when you sell bitcoin, if you hold it for years, you don’t need to worry about tax until you sell – and it’s only on the profits. This is because there are currently no investment funds that directly own bitcoin – no one has been given permission yet.
Quick Steps to Transfer Your Bitcoin Securely:
Because Fidelity is a traditional financial services firm, its crypto offering lacks the oomph typical crypto investors seek. For example, you can only buy and sell BTC and ETH commission-free. The Mastercard-branded, crypto-enabled Uphold Card comes with 0% foreign transaction fees and low exchange rates. However, there is a £2.50 fee for national ATM withdrawals and £3.50 for foreign ones. The Uphold Card can be added to your Google Pay or Apple Pay wallets as well. Israel-based eToro is an investment firm that added cryptocurrencies to the mix in 2014.
And always check the FCA register for any broker you deal with. With Revolut, trading fees depend on the plan you choose when you sign up. But if you just go with a standard plan (the ‘Standard/Plus’ plan), fees start at 1.49% per trade. If you’re more interested in buying Bitcoin through your bank, Revolut, has a very simple interface on it’s app for buing Bitcoin.
