Bitcoin continues to operate independently of the broader investment markets and as such, remains one of the most popular asset classes outside of stocks and ETFs.
The purpose of this beginner-friendly guide is to explain how to buy Bitcoin in the UK. In addition to offering a step-by-step walkthrough of the investment process, we also explore where to buy Bitcoin in the UK in terms of low fees, FCA regulation, and low account minimums.
Quick Guide on How to Buy Bitcoin UK in 5 Minutes
Those looking to get started right now and learn how to buy Bitcoin in the UK can follow the quick guide below:
- ✅ Step 1 – Open a Bitcoin Account With an FCA-Regulated Broker Like eToro: The first step is to choose an FCA-regulated broker that supports Bitcoin purchases. eToro is a popular option here, not only for its FCA license but also because it offers low fees and it accepts debit/credit cards. Visit eToro to open an account.
- 💳 Step 2 – Deposit Funds: Select a payment method from the list of options. eToro accepts bank transfers and e-wallets like PayPal – but the easiest option is a UK debit/credit card. The minimum deposit permitted at eToro is $10 (about £8)
- 🔎 Step 3 – Search for ‘BTC’: Now that a deposit has been made, type in ‘BTC’ in the search bar, and when Bitcoin appears, click ‘Trade’.
- 🛒 Step 4 – Buy BTC: Type in the amount of Bitcoin to be purchased, from $10 upwards. Finally, click on ‘Open Trade’ to buy Bitcoin in the UK.
Scroll down to find a much more detailed guide on how to buy Bitcoin in the UK via the eToro website.
Where to Buy Bitcoin in the UK – Reviews of the Best Bitcoin Brokers and Exchanges
Deciding where to invest in Bitcoin in the UK requires first-time investors to assess whether or not the platform is regulated by the FCA and what fees will apply when depositing funds and completing the purchase. Below, we help clear the mist by reviewing the best places to buy Bitcoin in the UK.
1. eToro – Best Place to Buy Bitcoin in the UK
We briefly mentioned eToro in our mini-tutorial above and for good reason – this regulated broker offers the best place to buy Bitcoin in the UK. Not only in terms of low fees but safety. After all, eToro is one of the few best Bitcoin brokers in the UK to hold a license with the FCA.
It is also covered by the FSCS, but this protection scheme does not apply to crypto assets. Nonetheless, first-time investors will appreciate the simple layout of the eToro website. The registration process is both fast and hassle-free, with eToro simply requiring some basic personal information and contact details.
Moreover, if the initial Bitcoin investment is below €2,000 (about £1,750), there is no initial requirement to upload any ID to verify the account. eToro accepts an assortment of convenient payment methods, which makes the process of buying Bitcoin in the UK even more seamless.
This includes debit/credit cards and e-wallets like PayPal – which are processed instantly. eToro also enables UK clients to transfer funds from their personal bank account, but this can take a couple of days to clear. Either way, eToro offers the cheapest way to buy Bitcoin with pounds, considering that deposit fees amount to just 0.5%.
Furthermore, eToro charges a small commission of just 1% when buying and selling Bitcoin. Another reason why eToro is worth considering when exploring how to buy Bitcoin in the UK as a beginner is that there is a minimum investment requirement of just $10. This will appeal to investors in the UK that wish to buy Bitcoin without risking a lot of money.
After the Bitcoin purchase has been made on the eToro website, the tokens will remain on the platform for safekeeping. Intermediate-level buyers might consider withdrawing the Bitcoin tokens from eToro and into one of the best crypto wallets in the UK. But this option likely won’t be suitable for complete beginners.
Although Bitcoin is one of the most traded assets on eToro, this popular broker also supports other cryptocurrencies. More than 70 options are available in this regard, from Ethereum, XRP, and Shiba Inu to Dogecoin, Cardano, and BNB. eToro also enables investors in the UK to buy stocks and ETFs at 0% commission, as well as trade currencies, commodities, and indices.
eToro also supports copy trading which means that users can copy the investments of other experienced traders with the click of a button. eToro’s most distinctive feature is CopyTrader.
By using CopyTrader™, you can view real-time trades made by actual traders, discover and track the investors you prefer, and replicate their investment actions with ease.
To start copying an investor, a minimum of $200 is required. The highest amount that can be invested in a trader is $500,000.
You can access all of the investors available for copying through eToro’s CopyTrader system. Additionally, you can replicate up to 100 investors at the same time.
| Trading Platform | Debit/Credit Card Fee | Fee to Buy Bitcoin | Number of Other Cryptocurrencies |
| eToro | 0.5% | 1% + Market Spread | 70+ |
Pros
- Best place in the UK to buy Bitcoin online
- Transparent and low pricing structure
- Get started with just $10 (about £8)
- Buy Bitcoin with debit card
- Innovative copy trading features
- Licensed and approved by the FCA
- Top iOS/Android app for buying and selling Bitcoin
Cons
- Deposits and trades processed in US dollars
Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.
2. Crypto.com – Buy Bitcoin via a User-Friendly App (Free UK Bank Deposits)
Crypto.com is also worth considering when researching where to buy Bitcoin in the UK. This option is primarily suited for investors that wish to buy Bitcoin via a user-friendly mobile app. The Crypto.com app is free to download and is compatible with both iOS and Android.
We found that the account opening process is fast and best of all – the Crypto.com app supports free GBP deposits made via personal bank accounts. Although Crypto.com states that this can take a couple of days to clear, in most cases this is significantly quicker.
Alternatively, investors that are in a rush to buy Bitcoin in the UK can do so instantly with a UK debit card. But do note that when compared to eToro’s 0.5% fee, debit cards at Crypto.com cost 2.99%. But nonetheless, the Crypto.com app offers plenty of useful features that ensure the provider stands out in this crowded market.
For example, Crypto.com offers more than 250 cryptocurrencies in addition to Bitcoin.
Trading commissions when exchanging one cryptocurrency for another amount to a mere 0.075%. Furthermore, the Crypto.com app not only supports interest accounts but it doubles up as a fully-fledged wallet.
| Trading Platform | Debit/Credit Card Fee | Fee to Buy Bitcoin | Number of Other Cryptocurrencies |
| Crypto.com | 2.99% | Included in the debit card fee of 2.99%. If opting for a free UK bank transfer, a small commission of 0.075% is payable when buying Bitcoin. | 250+ |
Pros
- Bitcoin and 250+other cryptocurrencies
- Fully-fledged mobile app doubles up as a wallet
- Earn interest on idle Bitcoin tokens
- Deposit GBP via a bank transfer fee-free
Cons
- 2.99% fee charged on debit card payments
3. Binance – Instantly Buy Bitcoin With a UK Debit Card
Binance is not only one of the best crypto exchanges in the UK – but globally. The platform supports hundreds of cryptocurrencies in addition to Bitcoin, alongside decentralized products such as interest accounts and yield farming.
It typically takes just five minutes from start to finish to buy Bitcoin via the Binance website. This includes the process of opening an account and uploading a copy of a passport or driver’s license for identity verification purposes. After that, UK investors can buy Bitcoin with a debit card at a fee of 1.8%.
The Bitcoin tokens will then be added to the Binance web wallet instantly. Alternatively, it is also possible to deposit funds into a Binance account via a UK bank transfer. The transfer usually clears in under five minutes and will cost just £1 in fees – irrespective of the deposit amount.
This option then requires the user to buy Bitcoin via the Binance exchange, which will cost just 0.1% in commission.
| Trading Platform | Debit/Credit Card Fee | Fee to Buy Bitcoin | Number of Other Cryptocurrencies |
| Binance | 1.8% | Included in the debit card fee of 1.8%. If opting for a UK bank transfer (£1 fee), a small commission of 0.1% is payable when buying Bitcoin. | 350+ |
Pros
- Instantly buy Bitcoin with debit card
- UK bank transfers cost just £1
- Top-tier liquidity and pricing
- Fast account sign-up process
Cons
- Not regulated by the FCA
4. Coinbase – Beginner-Friendly Broker to Buy Bitcoin Online
Coinbase is an established cryptocurrency broker that supports Bitcoin and dozens of other digital assets.
The platform is simple to use, especially when it comes to opening an account and making an instant payment with a UK debit card.
Coinbase charges 3.99% to buy Bitcoin with a debit card, however, so there are certainly cheaper options in this regard. Nonetheless, Coinbase remains popular with newbies and the broker’s native wallet app enables safe storage on the move.
Coinbase also offers two-factor authentication alongside other water-tight security features.
| Trading Platform | Debit/Credit Card Fee | Fee to Buy Bitcoin | Number of Other Cryptocurrencies |
| Coinbase | 3.99% | Included in the debit card fee of 3.99%. If opting for a UK bank transfer, a commission of 1.49% is payable when buying Bitcoin. | 250+ |
Pros
- Easy-to-navigate broker for buying Bitcoin
- Regulated and secure
- Popular mobile wallet app for iOS and Android
Cons
- Very high deposit fees and commissions
- KYC process is at times clunky
- Customer support is near-impossible to contact
5. Bitstamp – Bitcoin Exchange Services Since 2011
Launched in 2011, Bitstamp is one of the original Bitcoin exchanges in the market. In addition to Bitcoin, Bitstamp also lists over 80 altcoins, such as Ethereum, Polygon, and Dogecoin.
Bitstamp is arguably the cheapest place to buy Bitcoin, at least in terms of commissions. This is because Bitstamp does not charge any trading commissions on monthly volumes of under $1,000 (about £800).
The main chink in one’s armor is that Bitstamp charges 4% to deposit funds with a UK debit card. This subsequently means that even with its 0% commission offering, Bitstamp is more expensive than the likes of eToro and Crypto.com.
Nonetheless, Bitstamp is a trusted cryptocurrency exchange with a solid reputation for security. It takes just minutes to register and the exchange also offers a native mobile app for iOS and Android.
| Trading Platform | Debit/Credit Card Fee | Fee to Buy Bitcoin | Number of Other Cryptocurrencies |
| Bitstamp | 4% | 0% commission on monthly volumes of under $1,000 – or about £800. | 80+ |
Pros
- One of the original Bitcoin exchanges – launched in 2011
- No commissions to buy Bitcoin on monthly volumes of under $1,000
- Supports 80+altcoins
Cons
- 4% to deposit funds with a debit card
- KYC process is slower than other Bitcoin exchanges
- Many features are aimed at pro traders
6. Kraken – Minimum Deposit of £1 and BTC/GBP Pairs
Kraken is another established Bitcoin exchange that has a great reputation. UK investors can get started with a minimum deposit of just £1, via a standard bank transfer.
Kraken supports Bitcoin trading markets against GBP, which means that UK investors will avoid unnecessary foreign exchange fees. Moreover, trading commissions at Kraken are competitive at just 0.26%.
Kraken is also renowned for its customer support team, which operates 24/7. Alongside Bitcoin, Kraken offers 185+ other cryptocurrencies, including the likes of Cardano and Dogecoin.
Another reason why Kraken is worth considering when learning how to buy Bitcoin in the UK is that the platform offers great educational resources. This includes crypto guides, videos, and even webinars.
| Trading Platform | Debit/Credit Card Fee | Fee to Buy Bitcoin | Number of Other Cryptocurrencies |
| Kraken | N/A for UK investors | Commission of up to 0.26%. | 185+ |
Pros
- Minimum UK bank account deposit of just £1
- Low commissions
- 185+ cryptocurrencies – including Bitcoin
Cons
- Does not accept debit card purchases in the UK
- Many products are not available to UK clients (e.g. futures)
What to Know When Buying Bitcoin in the UK as a Beginner
The key takeaway when learning how to buy Bitcoin in the UK as a beginner is that the investment process itself is no different from purchasing stocks from an online share dealing platform.
- For instance, the first step is to choose a suitable Bitcoin broker – such as eToro or Crypto.com.
- After that, an account will need to be opened with the online broker and a deposit will need to be made.
- And then finally, the Bitcoin purchase can be made by placing a buy order with the chosen broker.
That’s pretty much it. After buying Bitcoin from a broker, then it’s just a case of having an exit strategy in place.
- In some cases, investors in the UK will look to buy Bitcoin and hold on to the tokens for several years in anticipation that the price will continue to rise over the course of time.
- In other cases, an investor will buy Bitcoin with a short-term strategy in mind and perhaps cash out about a few weeks or months later.
Either way, there is no way to truly know what will happen to the Bitcoin price. On the contrary, the price of Bitcoin works just like stocks, insofar as its value is determined by market forces.
Nonetheless, the process of selling Bitcoin back to pounds is much the same as making the initial purchase. At eToro, for example, it’s just a case of placing a sell order and the broker will execute the sale instantly.
What is Bitcoin?
Bitcoin is a cryptocurrency that was launched in 2009. It was created by an anonymous developer called Satoshi Nakamoto with the view of revolutionizing the global financial system. The core backbone of Bitcoin is the blockchain.
The blockchain is reminiscent of an accounting ledger, insofar as it displays each and every transaction that has ever occurred on the Bitcoin network. This is with the view of creating transparency. Another crucial feature of Bitcoin and its underlying blockchain is that the network is decentralized.
In its most basic form, this means that no single person has control over Bitcoin. This is unlike traditional money – such as pounds, which is controlled by central banks and governments.
This means that when buying and storing Bitcoin, no third party can access the funds when the tokens are held in a private wallet. As a result, there is no risk of the Bitcoin tokens being frozen by a bank or confiscated by a government agency. With that being said, Bitcoin is considered a commodity and as such, it has real-world value.
The value of Bitcoin functions like any other commodity – such as gold or oil, insofar as the market forces of demand and supply will dictate its price.
Therefore, most people buy Bitcoin in the UK as an investment product rather than for its decentralized features. Crucially, Bitcoin is not a tangible asset as it operates digitally. This makes it perfect as a store of value, considering that just 21 million Bitcoin tokens will ever exist.
Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.
The Basics of How Bitcoin Works
From an investment perspective, there is no requirement to understand the intimate details of Bitcoin.
After all, it’s just a case of buying Bitcoin from an online broker in the hope that its value increases over time. And if it does, then this will enable the investor to sell their Bitcoin tokens back to pounds for a profit.
Nonetheless, it still makes sense to understand the core features of how Bitcoin works – especially when it comes to storage.
The basics of Bitcoin are as follows:
Decentralized Transactions
Bitcoin can be transferred from one person to another without going through a third party, such as a bank. The decentralized nature of Bitcoin means that it employs a framework that operates independently from any other financial system.
With that said, in order to keep the Bitcoin network safe and subsequently verify that transactions are legitimate, the blockchain utilizes the services of ‘miners’.
Miners connect specialist hardware to a device, which has the capacity to solve complex mathematical equations. Every 10 minutes, one miner will be successful in solving the equation and as such, will be rewarded with newly minted Bitcoin tokens.
Right now, the reward amounts to 6.25BTC – which is worth approximately £130,000 as of writing. In 2024, the mining reward will be halved to 3.125 BTC. This process is known as ‘halving’ and it often spurns a rally to the upside for Bitcoin’s value.
Public Addresses
After buying Bitcoin, some investors in the UK will look to withdraw their tokens to a private wallet. This is usually an app that is compatible with smartphones, albeit, desktop software and even hardware wallets are an option too.
Either way, the wallet will store the Bitcoin tokens safely without a third party. Moreover, the wallet will have a ‘public address’, which is not too dissimilar to a bank account number.
This enables other people to send Bitcoin tokens to the wallet and therefore, can be shared.
Private Keys
When electing to buy Bitcoin in the UK and withdraw the tokens to a private wallet, it is important to understand what ‘private keys’ are.
In a nutshell, this is not too dissimilar to an online banking password and secret passphrase – rolled into a long string of characters.
Most importantly, the private key grants access to the wallet storing the Bitcoin tokens. Therefore, it is crucial to key the private key safe to avoid having the Bitcoin funds compromised.
The best way to avoid the worries associated with private keys and security is to keep the Bitcoin tokens stored with an FCA-regulated broker like eToro.
Should I Invest in Bitcoin?
Here’s what to consider when exploring how to invest in Bitcoin in the UK:
Only 21 Million Bitcoin Will Ever Exist
The first benefit to consider when investing in Bitcoin is that just 21 million tokens will ever exist. As of writing, there are just over 19 million BTC tokens in circulation, which is about 90% of the overall supply.
As Bitcoin is finite, this means that the digital asset is somewhat similar to other commodities, such as gold and silver. And, as long as demand for Bitcoin remains in place, its finite supply makes it a great store of value.
Huge Returns Since 2009
As noted earlier, Bitcoin was launched in 2009. There was no trading marketplace for Bitcoin in 2009, but just two years later, the digital currency surpassed the $1 level.
This means that by investing $100 into Bitcoin back in 2011, this would have resulted in a purchase of 100 BTC tokens. Those very same 100 BTC tokens today would be worth over $2.4 million – or about £2 million.
Still Plenty of Upside
As of writing, Bitcoin is priced at approximately $24,000 – which gives it a market capitalization of $480 billion.
To put this into perspective, the largest company on the FTSE 100 by market capitalization is Shell – which is valued at approximately $144 billion.
This means that Bitcoin is worth more than any company on the London Stock Exchange. With that being said, Bitcoin, according to many, is still undervalued and as such, has plenty of upside to offer.
For example, gold has a market capitalization of many trillions of dollars. If Bitcoin is able to solidify itself as a global store of value, its value still has a long way to go.
Trading at a Huge Discount From Prior Highs
Leading on from the section above, another consideration to make about Bitcoin is that the digital asset is trading at a huge discount as of writing.
This is because when compared to the $69,000 that the Bitcoin price achieved in late 2021, the digital asset is valued 65% lower. This offers a good opportunity to buy Bitcoin in the UK before the next bull market arrives.
Minimum Bitcoin Investment is Just a Few Pounds
Bitcoin is a risky investment and its value is largely driven by speculation. And as such, investors should never risk more than they afford to lose.
The good news is that there is no requirement to buy a Bitcoin in full for over £20,000. Instead, as Bitcoin can be split into small units, brokers like eToro support a minimum investment of just $10 or about £8.
This enables first-time investors to gain exposure to Bitcoin slowly, without needing to risk large amounts of money.
Different Ways to Buy Bitcoin Online
Bitcoin is a digital asset and as such, the investment process can be completed from the comfort of home.
The most common ways to buy Bitcoin in the UK are as follows:
Buy Bitcoin With a Debit Card
The easiest way to buy Bitcoin in the UK as a beginner is to use an online broker that accepts debit cards.
All of the Bitcoin brokers discussed earlier accept UK debit cards, apart from Kraken. There is, however, a disparity in how much UK investors will need to pay when using a debit card to buy Bitcoin.
For example, at Coinbase and Bitstamp, there is a debit card fee of 3.99% and 4%, respectively. At Binance, this is much lower at 1.8%. And then at eToro, the debit card fee is an industry-leading 0.5%.
Buy Bitcoin With Credit Card
The aforementioned Bitcoin brokers also accept credit cards issued in the UK. However, do note that some UK credit card providers will not authorize a purchase made at a Bitcoin broker or exchange.
Moreover, it doesn’t make sense from a risk perspective to buy Bitcoin with a credit card, considering the risks involved.
Buy Bitcoin with PayPal
eToro and Coinbase both accept PayPal deposits but, as noted above, there is a huge disparity in fees. When buying Bitcoin with PayPal at eToro, there is a small fee of 0.5%. At Coinbase, this will cost 3.99%.
Buy Bitcoin With Skrill or Neteller
Some Bitcoin brokers also accept other e-wallets. For example, eToro enables users to make a deposit with Skrill, Neteller, and WebMoney.
Buy Bitcoin on eToro
Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.
Most Cost-Effective Way to Buy Bitcoin in the UK
When attempting to find the cheapest way to buy Bitcoin in the UK, there are a variety of fees to consider.
For example, many Bitcoin brokers and exchanges in the UK support fee-free bank account deposits. But this can take a few days to clear, which won’t be suitable for investors that wish to buy Bitcoin instantly.
Debit/credit cards and e-wallets are usually processed instantly, but fees will vary from one Bitcoin provider to the next. Another fee to consider is the trading commission, which is charged when buying and selling Bitcoin.
There might also be withdrawal fees charged but the chosen broker or exchange. All in all, when factoring in the above fees, we found that eToro offers the cheapest way to buy Bitcoin in the UK.
To illustrate this point, consider the following example – when an investor buys £500 worth of Bitcoin with a UK debit card:
| eToro | Coinbase | Bitstamp | |
| Debit Card Fee | 0.5% of £500 = £2.50 | 3.99% of £500 = £19.95 | 4% of £500 = £20 |
| Trading Commission | 1% of 500 = £5 | Built into debit card fee | Built into debit card fee |
| Total Fee | £7.50 | £19.95 | £20 |
As per the above example, for every £500 invested into Bitcoin with a debit card, the overall fee at Coinbase and Bitstamp amounts to £19.95 and £20, respectively. At eToro, the same transaction would cost just £7.50.
Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.
How Does the Bitcoin Price Work?
Unlike the traditional stock markets, Bitcoin trades globally on a 24/7 basis. With that said, the vast majority of trading volume is witnessed Monday through Friday. Nonetheless, the price of Bitcoin will rise and fall in line with broader market conditions.
- When there is strong demand for Bitcoin and subsequently more buyers, its price will increase
- When there is low demand for Bitcoin and subsequently more sellers, its price will decrease
As a complete beginner, it’s wise to avoid checking the price of Bitcoin each and every day. Instead, the most successful Bitcoin investors are those that hold onto their BTC tokens over a long period of time.
For example, Bitcoin was priced as low as $5,000 in early 2020. By the end of 2021, Bitcoin hit an all-time high of $69,000. This represents gains of over 1,200%. During this period, however, the price of Bitcoin witnesses many highs and lows. But those that held on were able to achieve the most notable gains.
Another thing to note about the Bitcoin price is that – as we have done ourselves throughout this guide, BTC is usually quoted in US dollars. This is no different from trading other commodities like oil – which is also priced in USD.
As such, it’s a good idea to get used to analyzing the price of Bitcoin in USD as opposed to GBP. In doing so, investors will be more aligned with the broader market.
Bitcoin Price Forecast for and Beyond
The future price of Bitcoin will, as noted several times, be dependent on market forces. For Bitcoin to continuously grow in value over the course of time, it will need a constant influx of new buyers. This is much the same as investing in a blue-chip stock, like Johnson & Johnson or Apple – or any asset for that matter.
In terms of where Bitcoin could be trading by the end of 2023, there is still hope that the next bull market could resume. Not only has Bitcoin been stuck in a bear market since early 2022, but the next halving event is expected to take place in 2024. And as such, this often results in increased buying pressure.
Over a longer period of time, some analysts believe that Bitcoin will surpass $100,000 within the next couple of years. After that, there is no knowing how valuable will become. But crucially, there will only ever be 21 million Bitcoin in exitance, so in theory, there is no limit to the growth potential of the de-facto cryptocurrency.
Is it Legal to Buy Bitcoin in the UK? Safety Considerations to Make
First and foremost, although Bitcoin and other cryptocurrencies are unregulated financial products, buying and selling digital assets is legal. In fact, as we discussed earlier, there are Bitcoin brokers in the UK that are authorized and regulated by the FCA.
As such, the first port of call when exploring where to buy Bitcoin in the UK is an FCA-regulated broker like eToro. Another safety aspect to bear in mind is with regard to storage.
- While intermediate and experienced investors will often look to store their Bitcoin tokens in a private wallet, this is not perhaps the best move to make as a beginner.
- The reason for this is that without having a strong understanding of wallet security protocols, there is always the risk of being hacked.
- Moreover, if the private key for the wallet is lost, then the Bitcoin will not be recoverable.
Ultimately, the easiest and most secure way to buy Bitcoin in the UK is with an FCA-regulated broker that offers in-house storage. This way, there is no need to worry about security or storage, as the tokens can remain with the broker until it is time to cash out.
Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.
Best Bitcoin Wallet in the UK for Beginners
Although private wallets are best suited for those without prior experience, there are many advantages to taking this route. After all, investors will have full control over their digital assets and will be able to easily transfer their Bitcoin tokens to another wallet.
The best Bitcoin wallet for beginners in this regard is offered by the FCA-regulated broker eToro. The wallet can be downloaded to an Android or iOS mobile phone via an app. The eToro app comes with plenty of features, such as having the capacity to swap one token for another without leaving the wallet interface.
The eToro wallet app was designed with newbies in mind, considering that it offers an ‘unlosable private key’. In simple terms, this means that in the event that the investor losses access to their Bitcoin tokens, eToro will help with the recovery process.
Full Step-by-Step on How to Buy Bitcoin in the UK
We have covered the benefits and risks of investing in Bitcoin in the UK.
The final part of this guide will explain how to buy Bitcoin via the FCA-regulated broker, eToro. Follow the step-by-step tutorial below to invest in Bitcoin in under 10 minutes from start to finish.
Step 1: Open an eToro Account
Visit the eToro website and click on ‘Sign Up’.
Enter an email address and choose a strong password. eToro also requires some personal information alongside a mobile phone number.
Users will then need to type in the code that eToro sends to the registered mobile number and then answer some basic questions regarding their historical trading experience.
Step 2: Deposit Funds
After opening an account, the next step is to make a deposit.
To deposit funds instantly, select from a debit/credit card, PayPal, Skrill, or any other supported e-wallet. UK bank transfers will take a couple of days to process.
The minimum first-time deposit for UK investors is $10, or about £8.
Step 3: Search for Bitcoin
In the search bar on the eToro website, type in ‘BTC’. As per the image below, Bitcoin will then appear.
Click on the ‘Trade’ button next to Bitcoin and eToro will load an order form.
Step 4: Buy Bitcoin
eToro requires investors to type in their desired investment amount. Once again, this can be any amount from $10.
Confirm that everything is correct before clicking on ‘Open Trade’.
The eToro account balance will be deducted and the funds will be used to buy Bitcoin. The BTC tokens will then be transferred to the safe and secure in-house eToro wallet.
Step 5: Sell Bitcoin
eToro supports Bitcoin trading on a 24/7 basis. To sell Bitcoin, log into the eToro account and click on ‘Portfolio’.
Follow the on-screen instructions to sell Bitcoin instantly. eToro will then sell the BTC tokens and add the funds to the account balance.
Bitcoin BSC – Best Alternative to Bitcoin With $1.3M Raised in 7 Days & 422% Staking Rewards
For those looking for improved upside potential, Bitcoin BSC ($BTCBSC) could be an excellent option. This is a copy of BTC as it was in 2011, priced at $0.99, with a circulating supply of 6.125 million tokens.
Yet it is a much-enhanced token for a variety of reasons. Derived from the BNB Smart Chain, the underlying architecture is much superior to Bitcoin’s PoW mining ecosystem.
While Bitcoin averages about 7 transactions per second (tps) with a cost that can range from $3 – to $10 per transaction, the BNB Smart Chain can handle thousands of transactions per second with an average cost of $0.10.
It is also far more eco friendly – one of the most frequent critiques of BTC was its environmental damage and rewards that went only to centralized miners.
With this improved version suitable for 2023 investors, there is very little environmental fallout and the rewards go to staking participants. At present, rewards are 422%, down from a gigantic 32,912% earlier this week. Bitcoin, in contrast, offers no staking rewards whatsoever.
As this is an early stage token, the upside potential is far higher. While Bitcoin has already observed its price appreciation, this copy has yet to experience it. BTC20, a similar BTC clone, also experienced a 600% price appreciation at one stage.
A combination of price appreciation, staking rewards, and a technically superior BNB Smart Chain architecture make $BTCBSC a better investment to BTC in practically all aspects.
It has further undergone a third-party smart contract audit (no issues found) and the founders have kept none of the tokens to themselves – both of which are powerful signs of the project’s integrity.
The sale has raised $1.3 million in less than a week, an indication of how popular this coin has proved already.
To take part in this presale, a compatible Web3 wallet is required alongside an accepted crypto (ETH, BNB, USDT) or Credit Card.
Please make sure to read the Whitepaper prior to investment, where it outlines all risks of this BTC clone, which is not guaranteed to emulate the trading history of Bitcoin.
It’s also a good idea to join the project socials – Twitter and Telegram – for alerts and updates.
| Hard Cap | $6,063,750 |
| Total Tokens | 21 Million |
| Tokens available in presale | 6.125 Million |
| Blockchain | BNB Smart Chain |
| Token type | BEP20 |
| Minimum Purchase | $10 |
| Purchase with | USDT, ETH, BNB, Credit Card |
Conclusion
In summary, we have covered everything there is to know when asking the question – How do I buy Bitcoin as a first-time investor? When opting for a secure FCA broker like eToro, the Bitcoin investment process is safe and simple.
Moreover, eToro offers low fees and even accepts instant payment methods, such as UK debit cards and e-wallets. It takes just five minutes to register with eToro and subsequently buy Bitcoin in the UK.
