How to buy Bitcoin (BTC) in the UK
Current Price: £5,100.81 24hr: 0.38%
You don’t have to buy a whole Bitcoin – Bitcoins are divisible up to 8 decimal places! Bitcoin is the flagship cyrptocurrency: the first and most popular, and the inspiration for the altcoins. For many of our other guides, you’ll notice that BTC is a prerequisite, so this guide serves to explain how to buy Bitcoin in the UK, and with £GBP. Fortunately, as this is the most prevalent coin, it’s usually very simple and there are many options.
The guide is structured as follows:
- Buying Bitcoin in British Pounds (GBP)
- Buying Bitcoin in Euros (EUR)
IMPORTANT: Always store your coins securely. Learn how…
Buying Bitcoin in British Pounds (GBP)
Fortunately, some exchanges offer the ability to buy BTC with GBP, avoiding fees associated with buying in Euros and SEPA trades.
GBP Option 1: CEX.io
- Convert from: GBP, EUR, USD, BTC
- Fund your account with: Credit or debit card, bank transfer
How to buy GBP on CEX…
- Sign up for an account here
- Add your payment method, which will be either a credit/debit card or bank account – you’ll be funding your account in British Pounds
- Head to Buy/Sell via the top navigation bar
- Toggle BTC and GBP
- Enter your amount then click Buy
- Success! You purchased BTC
GBP Option 2: LocalBitcoins
LocalBitcoins has been around since 2012, with no major issues, making it one of the most reputed bitcoin marketplaces. The service links local buyers with sellers, who can then complete the transaction via an agreed method, such as bank transfer or Paym.
Buying Bitcoins with GBP in LocalBitcoins easy:
- Create your account here
- Head to the main page, where you see the search bar at the top (see image below)
- Enter your amount, make sure GBP is set as your currency, UK the location, and optionally select your payment method; though ‘All online offers’ is a good place to start
- Now, you’re presented with a list of sellers
- It’s best to select a seller with a good reputation score and high number of trades – see the image below for how to identify this in the results
- Hit Buy, and read the instructions. If you’re happy that you can complete payment very soon after initiating the trade, then enter your amount and click the Send trade request button
- Make the payment, and mark the payment as complete
- Once the trader has verified payment, your BTC will appear in your LocalBitcoins wallet, and can then be sent to any BTC address
GBP Option 3: Coinfloor
Coinfloor allows you to buy BTC with GBP, and is very easy to use with a good reputation and excellent prices….
- Sign up for an account here
- Verify your identity by uploading a government-issued identiy
- Choose how you want to buy BTC, it’s a simple process.
Check out Coinfloor’s fees here.
GBP Option 4: BitBargain
Much like LocalBitcoins, BitBargain, serves as a directory, connecting potential buyers to sellers in their locality, in this case allowing buyers to buy BTC with GBP.
GBP Option 5: Bittylicious
Like BitBargain and LocalBitcoins, Bittylicious is an Over The Counter (OTC) site, connecting potential buyers with sellers in your location.
Buying Bitcoin in Euros (EUR)
EUR Option 1: Cryptopay
Cryptopay allows you to deposit Euros to a wallet, which can then be seamlessly converted to-and-from Bitcoins. This means that in times of volatility you can quickly transfer your BTC to fiat currency, and vice versa.
Cryptopay requires you to upload ID and proof of residence, and is headquartered in London.
Sign up here and follow the simple instructions to make your account and buy Bitcoin in GBP
EUR Option 2: Coinbase
This is our least recommended option, as Coinbase doesn’t have a great track record in terms of customer service. However, it is a large exchange, and can be a good option for buying BTC fast with Euros.
It is strongly recommended that buyers are sure to not leave their coins on the exchange after their purchase, storing them instead in a private wallet.