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HomeCrypto CoinsHow to Invest in Cryptocurrency UK (2024)

How to Invest in Cryptocurrency UK (2024)

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Launched in 2009 as a decentralized method of peer-to-peer value transmission, Bitcoin was the first cryptocurrency. In the time after, tens of thousands of more cryptocurrencies were developed for use in various markets.

This book will detailly examine cryptocurrency investment in the UK, providing many investment alternatives. Everything you need to know before investing will be covered, including the top UK platforms, coin recommendations, and investment strategies.

How to Invest in Cryptocurrency in the UK I Will Tell You About This Article In Full Detail On This Website

We use a secure and easy method, a regulated online crypto exchange, to invest in Bitcoin in the UK. Trading coins is a breeze from any computer or mobile device. One of our suggested platforms is waiting for you to follow the instructions below.

  1. Choose a platform

Locating a suitable platform accessible in the UK should be your first step. The most secure option is a regulated and well-respected platform, and we’ll go over several of those in the following section. Please choose one of our three best suggestions from the table below to begin immediately.

  1. Create and fund your account

After you see the registration form, click the “sign up” option and fill it out with your details. You may be asked to submit a photo of your ID and maybe a utility bill or proof of address as part of the Know Your Customer (KYC) process on regulated platforms. After that, you can add funds to your account by visiting the deposit page and selecting a payment option.

  1. Buy Cryptocurrency

Find the coin you desire by searching your platform. It may be as simple as clicking a “Buy” button, or your platform may require you to issue a buy order if it uses trading pairs (e.g., BTC/GBP). Without a GBP trading pair, you must acquire a different coin (often BTC or USDT) to trade it for your preferred coin. Click “Buy” after you’ve entered the specified amount.

Where to Invest in Cryptocurrency in the UK

Here are reviews of the top 5 available platforms for investing in cryptocurrency in the UK.

  1. eToro – Overall Best Place to Invest in Cryptocurrency in the UK

For those looking to invest in cryptocurrency from the United Kingdom, eToro is the way to go because it is secure, easy to use, and packed with excellent features. Features like offline storage and SSL encryption are part of the platform’s top-tier security measures, which the FCA oversees. With eToro, you may own cryptocurrencies, equities, ETFs, and forex—in addition to more than 70 others—all in one convenient location. Adding assets you’re interested in into a watchlist, you may receive price alerts and use the statistics, news, and research sections to learn more about them.

Regarding community investment, no one does it better than eToro. Sharing and receiving advice from other users is a breeze. By viewing their risk tolerance and profit margin, you may even utilize CopyTrader to mimic the trades of a professional trader you like. The minimum investment and deposit required to start trading on eToro are $10 (about £8.70). There is an upfront cost of 1% plus spread when purchasing or selling cryptocurrency and a withdrawal fee of $5 (about £4.35). Click here to read our comprehensive eToro review.

eToro Pros

  • Multiple asset types
  • Copy trading
  • Regulated by the FCA
  • Demo account

eToro Cons

  • PayPal deposits are not available in the UK
Launch Your AccountFor retail CFD accounts, the loss rate is 76%. If you can’t afford to lose every penny, don’t invest. If something goes wrong with this investment, you shouldn’t expect any protection because it is risky—just two minutes to find out more.
  1. Binance – Cheapest Way to Invest in Cryptocurrency in the UK

Using Binance to buy cryptocurrency without spending a fortune on fees would be best. Etana users get free deposits, and our trading costs are the lowest in the industry at just 0.1% (or lower for more loyal users). To trade any 350+ cryptocurrencies now available, expert users can use the spot trading platform’s customizable charts, technical indicators, and several order types. Even with a margin, they can trade cryptocurrencies.

The “Buy Crypto with Debit/Credit Card” option is user-friendly enough for new investors compared to the more complex tools. Suppose they are interested in delving deeper into the world of crypto. In that case, the Binance Academy is an excellent resource for learning trading tactics, risk management, and many other topics. You may earn money on your cryptocurrency through savings accounts, staking, farming, and dual investment—all in the Earn area, a notable feature of Binance. To begin using Binance in the UK, you must deposit at least £2 via bank transfer or £15 via card. The fees for these deposits are £1 and 1.8%, respectively. Ten pounds is the bare minimum for a spot trade. Please keep reading for our comprehensive Binance review.

Binance Pros

  • Lower fees than competitors
  • Advanced trading tools
  • 350+ cryptocurrencies
  • Earn interest in crypto
  • Educational resources

Binance Cons

  • Not FCA-regulated

Coinbase – Best Way to Invest in Cryptocurrency in the UK for Beginners

Investing with Coinbase is easy even for crypto novices; click the “Buy & Sell” button, select a cryptocurrency, and input the amount you wish to invest. Coinbase is ideal for individuals just starting in the cryptocurrency market, as the lowest investment is only £2. By adding coins to your watchlist, you can stay updated on their value, and the Assets tab makes it easy to see how your portfolio has performed in the past. With the recurring buys functionality, you can quickly implement a dollar-cost-averaging approach for any of the 150+ currencies available.

If you want to learn more about cryptocurrency and blockchain, you may find a wealth of information on the website. As a bonus, the Learning Rewards section allows you to earn free cryptocurrency just to finish lessons. You can also earn a yield on a handful of coins in the Earn area. Coinbase is a regulated financial institution (FCA) with cold storage and insurance for cryptocurrency and cash. The suggested minimum initial deposit is £50, and customers in the UK can pay using a bank transfer at no cost. The fees associated with the “Buy & Sell” button can range from negligible to substantial, while the expenses related to the Trade tab amount to a mere 0.6%. Here, you may find our comprehensive Coinbase review.

Coinbase Pros

  • Easy to use for beginners
  • £2 minimum purchase
  • Learning rewards
  • Licensed by the FCA

Coinbase Cons

  • High initial deposit minimum
  • Fees for instant purchases can be high
  1. Bitpanda – Best Way to Invest in Cryptocurrency and Other Assets in the UK

For those seeking a varied investment platform, Bitpanda is the way to go. Investors can access over 200 different cryptocurrencies, crypto indexes, stocks, commodities, and exchange-traded funds (ETFs). The ability to conduct direct swaps between various asset classes sets the platform apart. Set up automatic recurring purchases of any asset using Bitpanda’s savings plan. You can locate platform-specific support on the Helpdesk if you require it. You may find investment and cryptocurrency-related tips and tricks in the Bitpanda Academy.

When it comes to regulation, Bitpanda has you covered. It complies with anti-money laundering legislation and has all the required licenses. Additionally, the site has received a stellar review from its users on Trustpilot. Customers in the United Kingdom can fund their accounts with a minimum of £25 and use methods such as Rapid Transfer, Neteller, Skrill, or SEPA. Cryptocurrencies listed on the platform have a premium of 1.49%, and the minimum investment amount is only £1.

Bitpanda Pros

  • Buy multiple asset types
  • Low minimum purchase size
  • Range of payment methods
  • Secure and regulated

Bitpanda Cons

  • Only offers email support
  • Crypto deposits carry fees
  1. Bitstamp – Most Reliable Way to Invest in Cryptocurrency in the UK

Since 2011, Bitstamp has consistently provided reliability to its clients. Dedicated customer assistance is available by phone or email around the clock every day of the year. Because of its reliable uptime, quick order processing, and strong liquidity, the platform is suitable for trading over 75 different cryptocurrencies. For newcomers, the interface for buying and selling is straightforward to use. Analytics tools, advanced order types, real-time data streaming, and robust APIs for developing algorithmic strategies are some of the more advanced features that professional traders will find valuable.

Bitstamp employs security measures that are fit for an institution, including robust encryption of user data, offline storage of 95% of assets, address allow listing, and transaction confirmations. Customers in the United Kingdom can make free deposits using Faster Payments, and the minimum deposit is £10. Withdrawals processed through Faster Payments incur a £2 charge. You can make quick card purchases for 5% and trade for up to 0.5%.

Bitstamp Pros

  • Support via phone and email 24/7
  • Reliable order execution
  • Advanced trading tools
  • Institutional-grade security

Bitstamp Cons

  • High fees for card purchases
  • Payment options are limited in the UK

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