Aug 28, · How and where to buy bitcoin in the UK There are many ways of buying in to the bitcoin boom. Dominic Frisby looks at the most common, and explains exactly how to buy bitcoins in the UK. Nov 30, · Bitcoin, the cryptocurrency, continues to smash through price barriers, with one Bitcoin this week breaking through the $11, mark (then back to $9,, then who knows what by the time you read this). Some early adopters have made millions and Facebook is now full of adverts to tempt the public to invest their hard-squirrelled cash in it. Cryptocurrency brokers let you trade popular cryptocurrencies like Bitcoin, Ethereum & Ripple. The best brokers are FCA regulated and can offer tight spreads for cheaper trading and allow you to trade crypto CFDs, MT4 and in the UK spread bet on cryptocurrencies. Compare cryptocurrency trading platforms to get the best broker for your needs.
Bitcoin uk moneysupermarketTop 10 Best Cryptocurrency Brokers Compare UK Crypto Platforms
You have to decide where to keep that wallet. You can use a provider simplest that's equivalent to using webmail, say, you can store the wallet on your own computer or, safest of all, on a hard drive which is not connected to the net. If you're a novice, it's probably best, while you educate yourself, to use a provider. Once you get the hang of things you can look towards storing your bitcoins elsewhere. There are hundreds of different places to register for a bitcoin wallet. Perhaps the simplest place to start is with blockchain.
Once you have a wallet, make a note of the address. Next, you've got to buy bitcoin. There are all sorts of ways to do this. You could go to a formal exchange or you could go down the peer-to-peer route.
When you're starting out, I'd recommend the peer-to-peer route. LocalBitcoins puts you touch with bitcoin buyers and sellers in your area. Buy your first bitcoins with cash, and you will have to meet with the seller. It's likely you'll get a free lesson out of it. There's also Bittylicious , where you can pay by bank transfer: you are given the bank details of the seller, you transfer the money to them, the bitcoins are transferred to you.
It's rough and ready but it works though, again, small amounts only while you're familiarising yourself with the tech. BitBargain and Coinfloor are other peer-to-peer dealers, though I stress I haven't used them. Bitbargain has a nice tutorial video on their site, which is worth watching. Another option is to use a bitcoin ATM. There are now 72 in the UK. They're all over the shop in London, particularly around Shoreditch no surprise and Dalston, but also as far afield as Croydon and Ilford.
Deposit cash, put in your wallet address, receive coins. Believe it or not, I've never actually used one. There are also the exchanges. These are more formal operations, and more geared towards larger purchases though you can make small purchases too.
Some accept credit and debit cards; others only bank transfers. Opening an account tends to be rather onerous in terms of paperwork, such is the bureaucratic world in which we live, but that is a journey you must travel. A problem for UK exchanges has been trying to open a bank account and this regulatory hurdle has left the UK behind the curve as far as locals being able to buy bitcoins is concerned.
You'd think we'd be ahead of it, given all the noise George Osborne made about it a few years back when he was chancellor, but there you go. Many exchanges have had to use Eastern Bloc banks instead which has slowed things down.
Bitcoin has hit a new record high — and this time the professionals are piling in too. Britain mulls a wealth tax again — can it ever work? House prices boomed this year: but will that continue in ? Skip to Content Skip to Footer. ETX Capital. Cryptocurrency trading is in it's infancy, and there are firms popping up everyday that claim to be cryptocurrency brokers in the UK. So if you are looking for a cryptocurrency broker in the UK there are many established brokers that are adding cryptocurrency to their offering.
We highlight the best cryptocurrency CFD brokers in the UK above in our cryptocurrency broker comparison tables. Trading cryptocurrencies through a spread betting broker means your profits are free from capital gains tax. Although this is subject to change, it means that spread betting on cryptocurrencies is one of the most cost-effective ways to trade.
It's important to avoid cryptocurrency scams by only using a fully FCA regulated cryptocurrency broker. If you are looking for the top ten brokers that trade cryptocurrencies, there is no definitive list.
This is because brokers that trade cryptocurrencies vary dramatically depending on your requirements. Some crypto brokers offer tight pricing, but no added value. Other crypto brokers offer lots of research, analysis and data. So it really depends on what you are looking for. That said, all the cryptocurrency brokers listed in our comparison tables should be considered to be in the top ten.
Trading bitcoin on CFDs is one of the most popular ways to trade as you can speculate on margin and profits whether the price goes up or down. In practice, Bitcoin is far more volatile, the spreads are wider and it is more expensive to hold overnight positions.
This isn't just for Bitcoin MT4 trading, it applies for trading Bitcoin in general. If you want to speculate on the price of cryptocurrencies there are basically two ways to do it.
If you buy through a bitcoin exchange, you just buy the bitcoin and tuck it away hoping the price will go up. The advantage of this of course is that, that is your risk. Or you could speculate on the price through a broker like ETX. Derivatives brokers allow you to speculate on whether or not the price will go up or down without actually owning it. If you trade Bitcoin through a spread bet, then you don;t have to pay capital gains on your profits.
Of course, if you lose money you can't offset it against investment profits. Also, trading on leverage is massively risky. Especially in crytocurrencies are very new and many think they are going to zero. For further information you can read our article how and where to trade bitcoin with a UK broker We generally on feature cryptocurrency brokers for UK trading, but if you are looking for a cryptocurrency broker for US trading you can view our US crypto broker comparison table here.
All content copyright Good Money Guide. VAT registration number: Data protection registration number: ZA How much does Crypto trading cost? Or get broad exposure in a single trade with our Crypto 10 index via CFDs or spread bets.
Trade Bitcoin with min 30 point spreads. Overnight funding is charge on top as are fees for social trading. Saxo has three pricing tiers. Pay less as you trade more.
Bitcoin spreads from 40, Ethereum from 4 and Ripple from 1. No commission is charged. Overnight financing is charged on held positions. Coming Soon Open Account City Index claim to offer the lowest cost Cryptocurrency trading, with market-leading pricing on Bitcoin, Ethereum, Litecoin and Ripple.
Profits are tax free through spread bet trading on cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin. What's in this guide? What are the most reputable cryptocurrency brokers in the UK? Compare Cryptocurrency Spread Betting Accounts.