5 “Best” Exchanges To Buy Bitcoin In The UK (2021 Edition)

If you are a UK trader and you are new to it, you will no doubt have been wondering how to buy bitcoin in the UK lately. With Bitcoin and the broader crypto market going very well lately, more and more people are looking for the best places to shop.

Here we are going to go over everything you need to know. This can be applied whether you are a newbie in the industry or a seasoned trader and cover some of the best services for buying bitcoin in the UK. In addition to listing our top 5, we also give you a closer look at the things to think about before choosing a service, as well as the taxes and regulations surrounding Bitcoin in the UK.

Points to Consider Before Buying Bitcoin in the UK

It is always helpful to have as much knowledge as possible about the environment you are entering before you actually start trading. Especially if you are new to buying Bitcoin, there are a few important considerations to weigh before deciding on the best service for you:

Safe trading environment: Trust and reputation come first here. You should make sure that the service you plan to spend your money on not only complies with local regulations (UK crypto regulations listed at the end of the article) but is as secure as possible in terms of trading. their systems and general transparency for your funds.

Commissions and Fees: While all of the services we offer typically incur fees that are great value for money, it’s always worth taking a closer look to make sure you’re getting the best possible deal considering your payment methods and the volume of purchase of your choice receive.

Trading Functions: Depending on your level of experience, you will undoubtedly be looking for different functions of a broker or service. At an entry level, you can prioritize ease of use, while at higher levels you can look for more unique features.

Best UK brokers to buy Bitcoin (BTC) and other cryptos

Launched in 2014, BitPanda quickly established a positive name and reputation for being a great place to easily buy and sell Bitcoin in the UK. Since that time, they have built their stellar reputation to quickly expand to where they now offer trading in a wide range of cryptocurrencies, as well as buying precious metals and a host of other services.

In total, they offer almost 50 cryptocurrencies to choose from. This positions them well within the sector, especially among brokers that allow instant crypto purchases. This section includes BEST, a native token that BitPanda launched itself.

At BitPanda you will also find: Cardano (ADA), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Wellen (WAVES), Dai (DAI), Nano (NANO), Stellar Lumens (XLM), Tron (TRX ), Chainlink (LINK), Bittorent (BTT) and over 50 other popular cryptocurrencies.

Read our BitPanda review or visit BitPanda.

Kriptomat is a Europe-based cryptocurrency exchange and wallet service that has been operating from Estonia since 2018. This is a location of choice for many top projects in the industry and therefore provides Kriptomat with an extremely trustworthy and supportive environment to operate. From here they quickly evolved and now offer crypto trading and secure storage services around the world in more than 80 countries including the UK.

Kriptomat is highly rated for safety and compliance with all local and international regulations. This is best illustrated by the fact that they are based in Europe and have a great reputation in the industry for trust. They also use cold rooms for up to 98% of the operation to ensure that all of your funds are completely safe.

There are a number of methods that you can use to buy Bitcoin using Kriptomat, as well as other cryptocurrencies. As a UK customer, you have no problem making purchases with your credit or debit card and a selection of popular eWallets. The transaction fee for a card purchase is very competitive at 3.65%, while the eWallet fee may be a bit higher.

Overall, you can expect the most secure service from Kriptomat with great value for money and a host of useful features that make it easy for you to buy Bitcoin in the UK or around the world.

At Kriptomat you will also find: Dozens of other important cryptocurrencies and many altcoins to choose from.

Visit our full Kriptomat review to learn more, or visit Kriptomat directly to complete your trade.

Paybis is an excellent choice if you want to buy Bitcoin in the UK or any of the many other cryptocurrencies on offer. Since their launch in 2014, they have built a solid reputation and are now the first choice for convenient Bitcoin purchases by credit or debit card.

Since they just make your transaction easier, you’ll need another third-party wallet for storage. However, the entire process can be completed very quickly, with instructions available at each point. Paybis also takes security very seriously and for this purpose implements strict security procedures and follows all required KYC and AML checks.

When it comes to fees and charges, Paybis remains great value for money compared to the rest of the industry. With a SEPA transfer, you’ll find fees from the lowest point of 1.5% to transaction fees for credit and debit cards that start at 6.99%. .

Not only do you get a broker that is well known and offers services in the UK, but in more than 100 other countries worldwide. If you are new to the industry, Paybis might also be an ideal choice as it has a special set of educational content to help you develop yourself at no additional cost.

At Paybis you will also find: Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Stellar Lumens (XLM), Tether (USDT), Binance (BNB), Neo (NEO), Tron ( TRX).

For more information, see our Paybis review or go to Paybis now to sign up and make your purchase.

Wirex is a UK based crypto wallet and payment service that also includes an exchange which is one of the best places to buy bitcoin in the UK. Not just Bitcoin, but the company supports numerous other cryptocurrencies and base currencies so that you can make payments. They have been in operation since 2014 and are now one of the most frequently used services in the world. They are available in more than 100 countries, have their own secure Visa & Mastercard and more than 3 million users worldwide.

On top of that, you will find an extremely well regulated company and one of the few crypto-related services that are regulated by the FCA with an e-money license. They also take your security extremely seriously with 99% of the assets in the cold store and the use of multi-signature wallet technology. You won’t find a safer place to buy or store your bitcoin.

They run a largely toll-free environment where the only major cost is a 1% fee to make a deposit and top up your account. With the GBP and 20+ other fiat currencies supported for your purchase, Wirex is a trustworthy and easy-to-use option with an app available on Android or iOS devices and their contactless card in more than 54 million locations Pay with Bitcoin and a number of other cryptocurrencies worldwide.

At Wirex you will also find: Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Wellen (WAVES), Dai (DAI), Nano (NANO), Stellar Lumens (XLM) and Wirex Token (WXT).

For more information, you can visit our Wirex review or go straight to Wirex to get started today.

Since its founding in 2017 by Changpeng Zhao, Binance has grown into one of the most renowned cryptocurrency exchanges in the world. They are regulated in Malta and trusted by traders around the world on a daily basis with a huge volume of transactions.

As they evolve their offering to meet merchant needs, you can buy Bitcoin in the UK instantly and directly from Binance using your credit, debit card or a number of other secure payment methods. You’ll find that the fees for this type of crypto purchase are slightly higher than the industry-leading exchange fees, but are still some of the most affordable. Depending on the payment method you use, you can expect a transaction fee of 1.5% to 3.5%.

The registration and verification process at Binance is also one of the fastest and most convenient in the industry. Within a few minutes, the required documents can be uploaded electronically and automatically checked so you can start trading. As one of the biggest names in the world, you can look forward to not only buying Bitcoin, but hundreds of other cryptocurrencies in an ever-growing selection. Their very popular Binance Coin (BNB) is also offered.

At Binance you will also find: More than 200 cryptocurrencies, including important cryptos and altcoins, with more being offered all the time.

Check out our full Binance review or head over to the Binance exchange to sign up. Use discount code: EE59L0QP to get 10% cashback on trading fees.

UK Bitcoin Regulations

In particular after the UK left the EU, the question arises whether Bitcoin is legal in Great Britain. has become more common.

Bitcoin and cryptocurrencies are generally legal to buy, sell and trade in the UK, although the UK Financial Regulator FCA and others have established certain rules.

Primarily, these rules focus on the status of the cryptocurrency in the UK, where it is not classified as legal tender, with most coins not classified as eMoney or security.

Regulators in the UK have put in place KYC controls and AML procedures that involve presenting real photo ID and proof of address for retail, although this is standard in many places.

The only sensible crypto restriction in the UK is the ban on trading in cryptocurrency derivatives. This means that there is no crypto futures trading in the UK.

UK taxation of crypto

Whether or not they are considered a form of money in the UK, your cryptocurrency profits on most cryptos, including Bitcoin, will continue to be taxed by HMRC in the UK.

The tax will be applied to your profit at a lower rate of 10% and a higher rate of 20% if your personal income is over £ 50,001. You have a tax free allowance of £ 12,300 but all profits above this point are taxable.

We are not tax consultants. Tax regulations are constantly evolving. It is important that you do your own due diligence and speak to a qualified tax advisor about tax matters.

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