We all know the skepticism that UK’s Brexit caused.
On top of that when an entity like ECB, who is responsible for the money supply in the Euro Zone makes comments like this:
— European Central Bank (@ecb) March 12, 2019
Then you should understand the time to exit the traditional banking system has come. Or atleast the time to partially expose yourself to other systems that aren’t controlled by central banks.
But where one exit to ??
Of course, it has to be Bitcoin, and I think you too very well know this fact. That’s why I believe you have come here to explore your options for buying BTC in the UK.
So in this write-up, I am going to share some of the most reliable services from which you can easily buy Bitcoin in the UK in many ways.
Buy/Sell Bitcoin (BTC) In the UK
Wirex is a provider of crypto cum traditional currency accounts operating in this space since 2014.
Wirex is based out of London, UK and it allows you to buy, store, exchange and spend your digital or traditional currencies, anytime, anywhere.
Wirex allows you to buy bitcoin through a bank transfer in the UK. You can simply use SEPA or SWIFT to bank transfer your GBP into Wirex account to exchange it for Bitcoin.
They also provide you with their real-debit card liked to your account, and it gets even better from here:
With this card whenever you will make in-store retail purchases, you will get 0.5% cash back in the form of BTC (Wirex calls it as cryptoback).
And here are some more USPs of using this crypto friendly UK based banking service:
- Buy, store and manage your crypto (BTC, LTC, XRP, ETH) and traditional money (GBP, USD, EUR).
- Add funds using a credit card, debit card or bank transfer.
- Instantly exchange between crypto and traditional currencies at live rates.
- Link to your Wirex Visa payment card to convert and spend your crypto in-store and online
So you see this is a win-win situation for everyone.
Register On Wirex
Coinbase is another go-to option for you to buy Bitcoin via a bank transfer in the UK.
Coinbase has been serving millions of customers all around the world in more than 40 countries since 2012. So with Coinbase you need not worry about the liquidity of bitcoins that you aim to purchase.
But bank transfers can usually take longer than credit/debit cards that’s why we recommend you to keep your Coinbase account ready all the times, even if you don’t intend to buy Bitcoin now.
By keeping the account ready, we mean that you should complete your KYC checks and other verifications on Coinbase by submitting relevant documents.
Once your account is verified, you are free to buy Bitcoin through Coinbase in the UK.
Lastly, Coinbase new users can get an additional bonus of $10 when they signup using this link and do a transaction of atleast $100 !! And for amateurs who want to get started with Bitcoin and cryptocurrencies, we suggest you buy Coinbase Bundle worth of $100 atleast. Coinbase Bundle is a basket of 5 cryptocurrencies BTC, ETH, LTC, BCH, ETC.
I know most of the UK residents like to purchase things using their credit/debit cards, and in respect of Bitcoin, it is no different.
That’s why we want to recommend you to look at CEX.io which is a UK based service that allows you to buy Bitcoin using a credit/debit card in the UK.
CEX.io allows customers of all the countries to purchase and trade Bitcoin in their platform except a few i.e. Afghanistan, Bosnia and Herzegovina, Bangladesh, Bolivia, Burundi, Democratic Republic of the Congo, Central African Republic, Cuba, Algeria, Ecuador, Ethiopia, Iraq, Iran, Iceland, Cambodia, North Korea, Laos, Lebanon, Libya, Morocco, Nepal, Pakistan, Somalia, South Sudan, Sudan, Syria, Uganda, Vietnam, Vanuatu, Yemen, Zimbabwe.
But since you are from the UK or Europe, you can easily use CEX for buying BTC using a credit/debit card. However, CEX.io requires you to complete verify your card and your identity first. Here is a video guide to help you out:
So on CEX.io, you need to follow these steps to be able to but BTC:
- Register on CEX.io
- Go to Cards section
- Enter details of your cards
- Verify your card and identity
- Select the amount of BTC you want to buy
- Exchange fiat from your card for BTC.
Note: Here you need not provide your BTC address as coins will be delivered to you almost instantly in CEX’s inbuilt Bitcoin wallet.
If you are in a hurry and want to buy Bitcoin quickly in the UK, then there is no service as fast as Coinmama.
Coinmama is a Slovakia based company operating in this space since 2012. It has the experience of supporting millions of customers buy their first Bitcoin, and the good thing is that they cater to the UK market.
Through Coinmama you can easily and quickly buy BTC using your credit/debit card if you are having a VISA or Mastercard debit/credit card with you.
The turn around time of Coinmama’s support is also quite fast, and you can expect your bitcoins to arrive in your wallet in 30 minutes if you buy now.
Lastly, Coinmama requires you complete your KYC before you can use their service and this is done to adhere to KYC-AML laws for dealing in fiat currencies.
Note: Coinmama doesn’t provide and inbuilt Bitcoin wallet on their platform. So if you decide to use Coinmama, then you need to set up your Bitcoin wallet first. Also, by using Coinmama’s bank transfer option, even EU & UK citizens can buy Bitcoin with SEPA bank transfer. Also, note that Coinmama doesn’t allow you to sell cryptocurrencies on its platform !!
- Countries Servicing: All countries
- Supporting Fiat: All fiat currencies
- AML/KYC Requirements: KYC is not mandatory.
- Fees Structure: Charges 1% fee for every completed trade.
LocalBitcoins is a savior for any type of Bitcoin buyer residing in any part of the world.
LocalBitcoin was founded in 2012 and is operating since then Finland, Europe. At LocalBitcoins platform you will find more BTC buyers and sellers from 15000+ cities in more than 200 countries.
But I know some users in the UK want to buy Bitcoin with no ID in the UK, and for such users, there is a smart way through which you can do so.
For this, you need to find a BTC seller on LocalBitcoins who is willing to accept payments using a credit card through POS device or payment service. Once you have seen such kind of seller, you can coordinate with him/her to meet in-person to cut a deal. Of course, don’t forget to use an alias email and name while dealing with staying pseudo-anonymous.
Lastly, LocalBitcoins is an escrow platform, so you need not worry about losing your funds or bitcoins, untill unless you make some dumb mistake.
And its escrow fee service is also as low as 1% which is I think is entirely fair for overseeing Bitcoin trades on its platform.
I even understand that some Bitcoin buyers in the UK are extra skeptical and want to buy Bitcoin anonymously.
For those users, thankfully there are enough BTC ATMs around the UK and using them one can easily buy Bitcoin anonymously in the UK.
So check out CoinATMRadar to see if there are crypto ATMs supporting Bitcoin in your vicinity.
Note: Using this method you can even buy Bitcoin for cash in the UK. The only thing you will need for this your Bitcoin wallet to receive BTC on it and fiat currency, i.e., GBP for exchange it for BTC.
Conclusion: Which Is The Best Bitcoin Exchange In UK?
All the service that we have listed above are best in their own ways, and we have described our reasoning behind choosing them in each section.
So feel free to try them out but don’t use these services for storing your bitcoins. Instead, you must use Ledger Nano S or Trezor for the security of your bitcoins in this uncertain times.
Lastly, when ECB was asked what’s their opinion on Bitcoin, they bluntly replied that it is promising, but it is not money. But I have already told you the difference between fiat vs. money before !!
— European Central Bank (@ecb) March 12, 2019
So now you only judge which is money and which isn’t !!
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Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.