Where to buy Bitcoin in the UK

The recent crypto market crash, runaway crypto scams, and crashing altcoin values have seen more crypto traders and investors shift their attention to Bitcoin. Some of the reasons why the pioneer cryptocurrency is preferred to these coins may be its proven resilience and ability to always bounce back from even the most volatile crash.

But where can you buy Bitcoin in the UK in 2022?

In this Bitcoin buying guide, we discuss where to buy Bitcoin, tell you whether Bitcoin is worth buying, and the risks of buying the legacy crypto. We also provide you with a step-by-step guide on how to buy Bitcoin.

How to Buy Bitcoin in the UK: Quick Steps

Are you based in the UK and looking to jump straight to buying Bitcoin? Follow this simple three-step guide that teaches you how to buy Bitcoin in the UK today.

Step 1: Open an account

Start by registering a trading account with UK crypto exchanges. The process is easy and straightforward and takes about a few minutes to complete. Only provide the exchange with basic personal information and verify your identity.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Step 2: Fund the account

Fund the approved crypto trader account. You can deposit and start trading. Most exchanges support virtually all the most popular international payment options, including PayPal, credit cards, debit cards, ACH, and bank transfers.

Step 3:  Buy Bitcoin

Search for Bitcoin from the list of crypto assets supported by the exchange. Choose to buy the digital currency and proceed to specify the amount of cash you wish to spend on the purchase.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Note: If you are new to Bitcoin trading and are looking for a more comprehensive buy guide, we will be providing you with a detailed how to buy Bitcoin guide further below in this article.

The Best Place to Buy Bitcoin in the UK

Bitcoin’s popularity ensures that it is listed with virtually all crypto trading platforms. From tier-1 exchanges and over the counter platforms to peer-to-peer trading platforms.

With this flood of platforms to choose from, finding the best place to buy Bitcoin UK can prove overwhelming. In this section, however, we tell you of the three top exchanges to buy Bitcoin in 2022.

Where to Buy Bitcoin in the UK in 2022

• eToro - Overall Best Place to Buy Bitcoin in the UK

eToro tops our list of top exchanges to buy Bitcoin in the UK because of its user-friendliness, adequate liquidity, transparency in trading fees, as well as its appeal to both beginner and expert traders. Though it started as a forex brokerage in 2007, eToro listed Bitcoin in 2013. Over the years, it has morphed into one of the most popular crypto trading platforms.

Its user-friendliness starts with a quick and straightforward client onboarding process. It then extends to a navigable trading platform and supports the widest range of payment options. These include PayPal, credit cards, debit cards, bank transfer, ACH, Trustly, and eWallets like Skrill and Neteller. And you can deposit as little as $10 and start buying Bitcoins.

eToro then maintains one of the most interactive Bitcoin trading platforms. It is intuitive enough to endear beginner crypto traders. But it also integrates enough premium research, trading and risk management tools to draw in expert traders. It, for instance, maintains some of the fastest order execution speeds, which, when coupled with adequate liquidity make eToro one of the best places to buy Bitcoin for active traders like scalpers.

eToro then integrates the innovative social and copy trading tools. On the one hand, social trading allows for interactions among Bitcoin traders on the platform and makes it possible for novice investors to learn from the most experienced.

Copy-trading, on the other hand, makes it possible for these beginner traders to earn while they learn. Through the copy trader platform, they get to copy the Bitcoin and crypto portfolio buying settings of the more experienced and successful traders.

The skilled investors receive a 20% commission from profits made from all their copied trades. The only other fee a Bitcoin trader has to pay when buying the virtual asset on the platform is the 1% trading commission.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.  

• Crypto.com - Best Place to Buy Bitcoin in the UK With High Instant Deposits

Crypro.com is a relatively new crypto trading platform. It started in 2019 but has also morphed into one of the most liquid exchanges and one of the fastest-growing crypto ecosystems seeing that it recently launched the Cronos blockchain. But it makes it to our list of where to buy Bitcoin in the UK because of its higher than average instant deposits.

While the likes of eToro will only let you deposit a maximum of $40,000 instantly via such deposit methods as credit and debit cards, Crypto.com supports instant deposits of up to $50,000 daily.

Other factors that make Crypto.com one of the best places to buy Bitcoin include its deep liquidity. On average, the exchange processes crypto trades in excess of $2 Billion, daily. Crypto.com also boasts of maintaining some of the fastest crypto order execution speeds - about 3 milliseconds.

These, coupled with an expansive number of crypto assets and Bitcoin trading pairs supported on the platform, make Crypto.com one of the best places to buy BTC for scalpers and other day traders.

Additionally, Crypto.com is quite transparent with its already competitive fees. Bitcoin purchases on the platform are subjected to a maker/taker fee of between 0.4$ and 0.1% - depending on your trading volume over the last 30 days. Bitcoin investors who have staked a minimum of 5000 CRO tokens on the platform, however, get to enjoy a 10% discount on fees - bringing the cost of trade down to between 0.36% and 0.9%.

Other factors that make Crypto.com one of the top exchanges in the UK to buy Bitcoin include the integration of premium investing programs. Here, you BTC investors have access to the crypto.com staking and lending programs.

Through Bitcoin staking, you get to earn up to 14.5% passive income on the staked BTC, effectively earning you double incomes - in the form of both staking interest and BTC price appreciation. Crypto.com lending on the other hand lets you borrow up to 50% of your staked BTC coins and pay it back in 12 monthly installments.

• Binance  - Best Exchange to Buy Bitcoin (BTC) With Low Trading Fees

Binance is one of the most liquid bitcoin and crypto trading platforms. Crypto trades worth as much as $40 Billion are executed here, daily. It also runs one of the most innovative crypto trading platforms rich in premium charting, market research, trading, and risk management tools. It also features a wide range of educational content to assist newbie Bitcoin investors.

These, notwithstanding, we rank Binance highly on our list of where to buy Bitcoin because of its competitively low transaction fees. When buying BTC on Binance, for instance, you will only have to pay a maker/taker fee of between 0.1% and 0.04% - based on your 30-day trading volume on the platform.

Moreover, if you choose to pay from the transaction with BNB coins that you already hold, you qualify for a 25% discount on the fee. This brings the cost of buying BTC on the platform down to between 0.75% and 0.03%.

You too could consider adding Binance to your list of top exchanges to buy Bitcoin because it lets you doubly on your BTC investment. It provides you with multiple ways of earning extra income from your BTC holdings.

These include Binance Earn, Binance Staking, Binance Saving, Binance Liquidity mining, and Binance liquidity pool programs. They let you lock your BTC holdings for a specific period while earning you attractive rewards and interests.

We also feature Binance here because it supports the widest range of crypto assets. It also has one of the widest range of Bitcoin trading pairs. Not forgetting that it, too, claims to have some of the fastest order execution speeds. All these, plus its deep liquidity and feature-rich crypto trading platform makes it one of the best places to buy Bitcoin for active traders - especially the day traders.  

Binance will also provide you with a free custodial and non-custodial wallet for your purchased Bitcoins. The custody wallet is exchange-based and stores most of your Bitcoins in ultra-secure offline vaults. It is then complemented by the largest private crypto-insurance scheme - named SAFU (Secure Asset Fund for Users). Today, this insurance fund has more than $1 Billion set aside for purposes of reimbursing crypto investors in case of a breach that results in the loss of user assets.

Don’t want to use custody services? Binance provides you with a free and equally secure non-custodial mobile wallet app - the Trust Wallet.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

What is Bitcoin (BTC)?

Bitcoin is a virtual currency created by an individual known, pseudonymously as Satoshi Nakamoto in 2008. It is the pioneer cryptocurrency and is aimed at eventually replacing fiat currencies as the most preferred medium of exchange. It is also the native currency from the Bitcoin blockchain, a highly decentralized and distributed database secured by cryptography.

Bitcoin was the first peer-to-peer digital currency to achieve global success and adoption. Its development and launch came at the backdrop of the 2007/08 global financial crisis. It hopes to help avert the possibility of another crisis, solve global inflation, and help investors guard the integrity of their assets.

It was intended to replace fiat currencies. While this hasn’t happened, 14 years after its launch, major developments have taken place around digital technology. It, for instance, has been adopted as a legal tender in at least two countries i.e. El Salvador and the Central African Republic. It has also been taken up as a medium of exchange by numerous physical and online stores across the world.

 It has also the creation of a digital currency industry. Its success influenced the creation of 19000+ more altcoins, tokens, and meme coins that are now collectively worth more than $1.2 Trillion.

We would also like to point out that while Bitcoin was intended to serve as a medium of exchange, it has found massive success as a speculative investment asset.

Is Bitcoin (BTC) A Good investment?

The answer to this question is subjective because - like any other investment - Bitcoin has its ups and downs.

You may, for instance, consider it worth buying because it has sustained an overall positive uptrend since its launch. But it has also experienced massive price drops that saw most investor portfolios whipsawed. Between November 2021 and the time of writing, for instance, Bitcoin has wiped more than $800 Billion off investor portfolios.

But to best understand if Bitcoin is worth buying in 2022, we need to weigh the reasons why you should consider buying BTC today and contrast them against the risks to Bitcoin investing.

Reasons to Buy Bitcoins (BTC) in 2022?

• Potential for massive future returns: By the turn of the decade, popular crypto analysts expect one BTC to sell for more than $1 Million - a 3400% jump up to its current price. If you HODL Bitcoin in your portfolio, you can prepare for an equal portfolio gain.
• Good store of value: You may also invest in Bitcoin because it is a solid store of value. Unlike cash, Bitcoin isn’t affected by inflation. 
• Easily accessible and liquid: Bitcoin is listed with virtually all the crypto trading platforms around today. It also is one of the most traded altcoins, making it one of the most liquid investments. This implies that even the largest BTC portfolio can be liquidated with ease from anywhere in the world. The same can’t be said of most traditional investments.
• Great investment hedge: Bitcoin is a great hedge against traditional investments and economic downturns. It is designed to withstand global economic meltdowns and has consistently posted a faster recovery compared to conventional asset classes.
• More reliable than most other cryptos: Bitcoin is more resilient to crypto market crashes and economic meltdowns and cybercrimes than most other crypto assets.
• More profitable than traditional investments: Bitcoin is the most profitable investment class of the decade. Since its launch, it has consistently outperformed all conventional asset classes. In the past 10 years, for example, S&P 500 has posted an average return of 14% annually. Bitcoin, on the other hand, has a 10-year ROI of 290000%+.

Risks to Bitcoin (BTC) Investing

• Massively volatile: Bitcoin is a massively volatile cryptocurrency. Its already unpredictable prices are subject to drastic fluctuations as high as double-digit percentages in a matter of hours. Only buy Bitcoin if you can stomach such volatilities.
• Cyber theft and hacks: Like all other cryptocurrencies, Bitcoin is susceptible to cyber theft through hacking and other online crimes like ransomware. In the ten years to 2021, for instance, ScienceDirect reports that more than 1.7 million BTC tokens (worth approximately $49.3 Billion at the current price) have been lost to cybercriminals.
• Increased scams: Cases of crypto scams targeting Bitcoin investors have been on the rise.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Bitcoin (BTC) Price

On 18th May 2010, Laszlo Hanyecz bought two Pizzas worth $41 with 10,000 Bitcoins - giving the pioneer crypto an implied value of $0.0041 per BTC. By the time CoinMarketCap started tracking its price in May 2013, it was already selling for $145. Its first major price run would come in the last quarter of that year when the BTC price tore above $1,000 for the first time ever.

But China banned the pioneer cryptocurrency, inducing its first major price crash. By January 2015, Bitcoin was selling below $200 and was caught in a range of between $180 and $800 throughout the year and up to 2016. It, however, recaptured the $1,000 price in early 2017 and embarked on a gradual value gain that eventually turned into an industry-wide bull run in the last quarter of the year.

It peaked above around $20,000 at the time and before yet another crypto ban by the Chinese government forced a price crash. By December 2018, Bitcoin had shed more than 85% of the 2017 peak price and was selling around $3,000.

During the crypto winter that engulfed the markets between 2018 and the first half of 2020, Bitcoin prices had a rough time breaking above $12. The crypto asset only started rallying again in the last quarter of 2020 and stormed into 2021 selling for $29,000. It would then break into a full-scale bull run in the first few months of 2021 and hit its first price peak of $63,500 on 13th April.

Again, China halted Bitcoin’s further uptrend when it banned crypto mining in the country and expelled all Bitcoin miners. At the same time, Billionaire entrepreneur Elon Musk haled the sale of Tesla vehicles with BTC the Biden administration was rumoured to be working on a Bitcoin regulation Bill. All these factors forced a crypto market price crash in May.

This saw BTC prices fall and bottom at around $29,000 in July. But as Chinese miners set camp in crypto-friendly countries like the US, Iran, Russia, and Kazakhstan, Bitcoin resumed its early 2021 price run in October. It culminated with the setting of the current all-time high of $68,789 - more than 47400% above its 2013 prices - on 10th November 2021.

Six months later, the legacy digital coin has shed close to 60% of these peak prices and is back to trading around the January 2021 price of $29,000.

Bitcoin (BTC) Price Analysis 

The majority of crypto experts, investors, and technical analysis tools are confident that Bitcoin prices will continue rising over the next few years. They agree that Bitcoin prices will soon rebound, resume the early 2021 uptrend, and rally to new heights in the foreseeable future.

Most credit the upcoming rebound and possible price rally to increase investor interest in the pioneer cryptocurrency. A significant number are also confident that growing cases of blockchain adoption, increased adoption of Bitcoin as a medium of exchange, and worsening global economy will help fuel the digital currency’s value gain.  

But what do different experts believe Bitcoin will be worth in future?

A group of 33 crypto analysts and Fintech experts were recently polled by Finder, a financial comparison website and 90% of these are confident BTC prices will continue rising. They agree that while Bitcoin prices may stumble to a $20,000 low during the current dip, it will quickly rebound and rally above $76,000 by December 2022.

Cathie Wood, a legendary Bitcoin investor and current CEO for Ark Invest, is overly bullish about BTC’s future. She joins the growing list of vocal crypto analysts and investors who believe that Bitcoin prices will rally and possibly break above $1 Million by the turn of the decade.

Ways to Buy Bitcoin in the UK

With surging popularity and investor interest in Bitcoin all over the world, different crypto trading platforms have integrated multiple ways of buying Bitcoin. The purchase options available to you will, however, largely be dependent on your preferred Bitcoin trading platform.

In this section, we look at the three most common ways of buying Bitcoin in the UK.

How to Buy Bitcoins (BTC) with credit cards and debit cards

Credit cards and debit cards are among the most popular payment options in the world. Today, the majority of crypto exchanges and trading platforms support a wide range of cards.

The upside to buying Bitcoin with credit and debit cards is that deposit processing is instantaneous. Additionally, most Bitcoin trading platforms have relatively high card deposit maximums - up to $40,000 daily on some of them. Not forgetting that most exchanges do not maintain deposit-processing fees.

How to Buy Bitcoins (BTC) with PayPal

You can buy Bitcoin with PayPal - and there are two primary ways to go about it. For starters, you can choose to buy Bitcoin directly on the PayPal website and mobile app. We must, however, emphasize that this method is only available to citizens of select countries, especially the US and UK.

You may also buy Bitcoin with PayPal through a crypto exchange that supports PayPal deposits - like eToro. The upsides to using this method include the fact that PayPal deposits are almost instantaneous. Furthermore, most crypto exchanges, for example eToro, do not charge a deposit-processing fee.

How to Buy Bitcoin (BTC) through UK Bank Transfer

You can also choose to buy Bitcoin with a UK bank - the most accessible and most accepted payment option. Virtually all the Bitcoin trading platforms accept bank deposits and some do not even have maximum deposit limits.

The only downside to buying Bitcoin with a bank is that deposit processing takes days. When depositing into an exchange, for instance, the cash may take between 3 and 8 business days before reflecting in your crypto trader account.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Best Bitcoin (BTC) Wallet

There are hoards of digital wallets that support Bitcoin. Most of these are online-based, implying that they store the private keys for your Bitcoins in the cloud or in an encrypted form on your phone or laptop. These aren’t the most secure as they are susceptible to hacks and malware or ransomware attacks.

There then are exchange provided custodial wallets like the ones provided by the three top exchanges we have discussed hereinabove. They are a tad safer than online wallets. But they demand that you trust the institution holding the coins that it will store the coins offline and that their crypto-insurance is legit.

We, however, recommend everyone, especially the long-term investors, to invest in a hardware Bitcoin wallet. These not only grant you absolute custody over your coins but also store them offline - away from hackers and other cybercriminals.

How to Buy Bitcoins (BTC) in the UK: Step By Step Guide

You now understand where to buy Bitcoin in the UK and some of the reasons why you should consider buying the LRC token and the risks involved in investing in Bitcoin. We now need to shift focus on how to buy Bitcoin in the UK at a crypto exchange for beginners.

Are you a Bitcoin investing beginner looking for a more comprehensive guide on how to buy Bitcoins? In this section, we walk you through the process of buying BTC from the all-popular crypto exchange - eToro.

Step 1: Create a crypto trading account

Open the official eToro website and tap on the “Join Now” button to begin the account creation process. Complete the registration form that pops up. It will ask for such basic personal information as your name, country of residence, email address, phone number, income sources, and online trading experience. It takes less than 5 minutes.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Step 2: Verify your Account

To complete the registration process, the multi-regulated crypto exchange will ask that you verify your identity. Simply upload a copy of government-issued identification documents e.g. I.D, passport, or driving license. The approval process takes between a few minutes to a few days and you will receive an email confirmation of approval.

Step 3: Deposit Funds

Log in to your approved crypto trader account and click on the “Deposit” tab on the user dashboard. A funding tab will pop up and present you with all the supported deposit options for your country of residence. Choose one and follow the prompts to fund the account.

Note: Ensure the names on the payment method match the names of the trading account.

Step 4: Search for Bitcoin

Still on the user dashboard, click on the “Discover” and from the list of support asset classes, tap on “Crypto.” Use the search tab to search for Bitcoins. Alternatively, select Bitcoin or BTC from the list of supported cryptocurrencies.

Step 5: Buy Bitcoin

Click on the “Buy” option. Use the trading tab that pops up to customize the trade by indicating the number of Bitcoins you wish to buy or the amounts you wish to spend on the purchase. Tap on the “Open Trade” button to execute the purchase.

>>>Buy Bitcoin Now<<<

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Conclusion - Where To Buy Bitcoin in the UK

Throughout this post, we have informed you of more than just where to buy Bitcoin in the UK in 2022. We have discussed the top exchanges to buy BTC and why you should consider investing in the coin today. We have even discussed the risks of investing in BTC at the moment and everything else that you need to know before buying the legacy digital currency.

We have even provided you with a step-by-step guide on how to buy Bitcoin on eToro. Go through the guide again and use it to buy a piece of the fastest growing and most rewarding investment of the 21st century.

FAQs

Is Bitcoin worth buying in 2022?

The majority of investors and analysts are convinced that Bitcoin is worth buying during the dip. They argue that it has proven its resilience and that the rising investor interest in the coin, increased use cases, and soaring adoption of crypto technology will all help fuel its future value gain.

Where to buy Bitcoin in 2022?

Virtually all the most popular crypto trading platforms around will let you buy Bitcoin in 2022. In this post, we have discussed the three top exchanges to buy Bitcoin in the UK and even provided you with a step by step guide to buying BTC on eToro.

How much do I need to buy Bitcoin today?

The minimum needed to start buying Bitcoin will most certainly be determined by your preferred Bitcoin trading platform. In some exchanges, for instance, the minimum required to buy BTC is $10, while in other exchanges the minimum is $200. You, however, get the final word on the maximum investment amounts after considering such factors as your risk tolerance, investing strategy, investing goal, and disposable income.

>>>Buy Bitcoin Now<<<

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Disclaimer: This article is a description of how and where to buy Bitcoin in the UK and by no means is advice on investing in any mentioned or non-mentioned cryptocurrency. Readers must do their own research and be aware that investing in Bitcoin or any Crypto has high risks. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.