Where to Buy Crypto in the UK

The UK is one of the world’s largest financial markets, and Bitcoin is a hot investment category.

Have you invested in Bitcoin yet? Let’s take a look at everything you need to know from regulatory guidelines, storage, and exchanges.

Bitcoin & Cryptocurrency Trading in the United Kingdom

In the UK, regulators have restricted the trade of cryptocurrency derivatives like futures and options. The actual cryptocurrencies themselves, however, are fair game!

To buy Bitcoin or crypto as a UK resident, all you need is an exchange to buy it from and a wallet to store it in.

A digital crypto wallet, that is.

Secure Storage for any Cryptocurrency

Cryptocurrency is stored using digital software called crypto wallets. More accurately, the crypto is stored on a blockchain network, but the wallet software allows you to send and receive funds. Each wallet has a private key, like a password, and a public key, like an address or account to send funds to.

Here are the Best Exchanges to buy Crypto in the UK

Let’s take a look at where you can actually buy Bitcoin and other cryptos. All of the exchanges below come with their own built-in wallet, allowing you to store your funds.

2 eToro

eToro is a versatile crypto exchange that also allows traders to buy stocks and CFDs. What’s more, eToro users can select a popular trader and mimic their trades automatically. Service is limited to the eToro cryptoasset exchange, however — users cannot spend their funds on real goods and services, and need to withdraw to a traditional bank before actually using their money.

eToro users must deposit a minimum of $500 USD by bank transfer or card to begin eToro trading whether to purchase coins or stocks (this is a fixed USD rate subject to inflation/deflation against the pound). eToro is a reputable exchange, but its focus on digital currency is more limited than some of the crypto-only exchanges.

  • Ease of Use: Intermediate
  • Fiat Compatibility: Dozens of supported currencies
  • Fees: 0.75% on BTC trades
  • Limits: $10,000 daily deposit

3 Bitpanda

Bitpanda is a low-fee exchange that supports fiat. Users can pay 1.49% for Bitcoin transactions on Bitpanda, or less when using the platform’s native crypto token BEST — this is lower than most popular exchanges. Bitpanda supports the EUR, USD, GBP, CHF and TRY fiat currencies and dozens of cryptocurrencies including Bitcoin and Ethereum.

Crypto investors are limited to withdrawals of £1,300 per day until they’ve passed verification, at which point they can withdraw significantly higher sums of money. This cryptoasset exchange is suited to amateur investors or casual investors as well as more advanced traders, with a fairly intuitive interface designed for today’s crypto market.

  • Ease of Use: Easy
  • Fiat Compatibility: EUR, USD, GBP, CHF and TRY
  • Fees: 1.49% or lower
  • Limits: £1,300 withdrawals for unverified users

4 Coinbase

Coinbase is a world-leading crypto exchange that caters to both retail investors and institutional traders. It offers a wide range of cryptocurrencies and fiat currencies. Users can buy crypto with a credit card or bank transfer. However, there are no added features such as crypto debit cards or bank accounts (IBANs).

A wide user base helps ensure sufficient trading volume, the exchange is widely used by casual traders due to its straightforward trading interface.

  • Ease of Use: Easy
  • Fiat Compatibility: Yes
  • Fees: 1.5% – 4% for fiat purchases, up to 0.5% for crypto trades
  • Limits: $25,000 daily for KYC verified users

5 Coinmama

Coinmama allows users to buy 8 different cryptos, including Bitcoin and Ethereum, through a number of payment options such as credit or debit card, bank transfer, PayPal, and Apple Pay. Fees are based on a loyalty system, starting at 3.9% to buy and 4%. There are no banking services allowing users to spend their crypto, nor are there many educational materials for investors to read.

  • Ease of Use: Easy
  • Fiat Compatibility: GBP, EUR, AUD, CAD, JPY, USD
  • Fees: Up to 3.9% for buys, up top 4% for sells
  • Limits: $15,000 USD daily

6 Kraken

Kraken is one of the most popular exchanges and offers traders and investors a wide range of cryptocurrencies and fiat currency pairs. Trading is cheapest when using stablecoins, with fees from 0.9%, whereas other crypto trades cost 1.75% per transaction and card transactions cost 3.75%. Kraken doesn’t give users their own IBAN or debit card, acting as an investment exchange only.

  • Ease of Use: Easy
  • Fiat Compatibility: USD, EUR, CAD, AUD, GBP, CHF and JPY
  • Fees: 0.9% – 3.75%
  • Limits: $5,000 – $10,000,000 daily

7 CEX.io

CEX is a straightforward exchange licensed by the FinCEN financial regulator. Users can top up their accounts with a credit card purchase, debit card, or services like Skrill. It offers a wide range of exchange tokens including Bitcoin and displays the GBP exchange rate for select fiat/crypto pairs.

Trades below 5 BTC come with a maker fee of 0.16%, meaning users are entering a limit order and waiting for it to get filled. This comes with more market risk as there may be price movements while the order is being filled. Taker fees are higher because this involves a market order which is filled immediately, with a higher price and a lower market risk. Card deposits cost 2.99%, while withdrawal fees are 0.3% and £25 for bank transfers or 3% and £2.50 for card transfers.

  • Ease of Use: Easy
  • Fiat Compatibility: USD, EUR, GBP, and RUB
  • Fees: 0.25% taker fee, 0.16% maker fee
  • Limits: $3,000 USD daily deposit, $10,000 withdrawals for tier 1

UK Crypto Exchange FAQs

Let’s take a look at some of the most commonly asked questions for buying Bitcoin in the UK. If you’re ready to get started, download Crypto Wallet here.

Does CryptoWallet work in the United Kingdom?

Yes, the United Kingdom is a major crypto market and Crypto Wallet works here. You can transfer the British pound sterling and other fiat money like the Euro to your wallet and use it to buy crypto like Ethereum and Bitcoin, and all other wallet features are fully operational in the UK.

How to choose an exchange

Security is a primary factor to consider when choosing a Bitcoin exchange, as you want your money to be safe. Nobody wants to store an asset on an exchange with subpar protection. Crypto Wallet offers two-factor authentication (2FA) security and all user funds are insured by the BitGo asset protection company.

How to Trade Cryptocurrency

You can buy crypto with traditional fiat money like the British pound sterling and then sell it for either fiat or other cryptocurrencies in our exchange section. Simply choose the amount of crypto you want to buy or sell and confirm your transaction, and the funds will appear in your account. You can trade Ethereum and Bitcoin as well as Litecoin, Ripple, and Tether.

How to Buy Bitcoin with Paypal

You can buy Bitcoin online through the PayPal homepage (or the Payments screen in the mobile app) by clicking the “Buy Bitcoin and more” banner at the top of the page and following the instructions. This option is mostly for retail investors rather than major institutions. PayPal itself provides the payment method for buying Bitcoin, and both the buyer trading fee and buyer exchange rate are subject to change depending on market conditions.

Why do people buy bitcoins and cryptocurrencies?

Crypto users buy Bitcoin, Ethereum, and other types of digital currency for a number of reasons. Some crypto users are interested in making money by selling for a profit.

Others want to use Bitcoin to send money securely, privately, and at any time of the day or night without being dependent on banking hours or bank holidays, or to use Ethereum to access the world of decentralized finance and use apps powered by Ethereum. Crypto has many use cases!

Bitcoin Wallet App

To send Bitcoin, you simply need to copy the address or public key you’re sending money to and paste it into the recipient section.

This process is guided with on-screen instructions.

To open a Bitcoin wallet, simply download the app for Android or iOS below!

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Bitcoin Wallet App