How to Buy Bitcoin UK 2022

Looking to Buy Bitcoin in the UK and hop aboard the crypto gravy train? Step right in, as we explain the basics on how to do it.

We have written this guide with absolute beginners in mind, and every procedure is described in detail. From explaining what BTC is and how it works to helping you choose the right crypto exchange with low trading fees, we have covered all major topics on the matter.

How to Buy Bitcoin  UK – Overview

The simplest way to buy Bitcoin  UK is to follow these steps:

  1. Make an account with eToro – go to the eToro site, find the “Join Now” button and click on it. You will need an email address (it has to be a valid one since you will need to confirm it later), a username, and a password to register a new eToro account.
  2. Deposit funds – The minimal deposit for eToro is $10 (£7.73). You can use a bank transfer, credit/debit card, or e-wallet to deposit money to your eToro account.
  3. Find Bitcoin  – Locate the search bar and type either “BTC” or “Bitcoin ” in the field. Then, form a drop-down menu, select “Trade”.
  4. Buy Bitcoin  – In the order box, enter your desired position size (minimum $10) and click “Open Trade”.

Where to Buy Bitcoin 

Choosing the best crypto exchange can seem like a daunting task. The sheer number of trading platforms out there can be overwhelming for new traders and researching the pros and cons of each and every one may take a while. To save you some time, we have created this handy overview of some of the best ones, including their trade fees and other features that may help you.

eToro – Overall Best Platform to Buy Bitcoin UK with Lowest Deposit

With more than 23 million registered users, eToro is one of the largest crypto exchanges in the world. The platform is heavily regulated and subject to oversight from several government agencies and non-government bodies, including FCA, ASIC, and CySEC. This provides investors with a safe place to conduct trades without worrying about scammers. 

eToro features a minimal deposit of just $10 (£7.73) and its transaction fees are among the lowest on the market. It supports all major forms of payment, including credit/debit cards, bank transfers, PayPal, Skrill, and others. Registered users can benefit from having access to eToro Money, a free crypto wallet, which simplifies trades and offers a secure place to hold Bitcoin  online.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

>>Buy Bitcoin on eToro<<

Binance – Best Place to Buy a Wide Variety of Crypto

With more than 500 cryptos to trade, Binance boasts one of the largest selections of coins on the market. It is the largest crypto exchange in existence, with $15bn in daily trading volume. The key to Binance success is their low fee. Buyers pay only a 0.1% trading fee for each transaction, the lowest among all crypto exchanges. If you trade using Binance Coin (BNB), the fee will be reduced by 25%. You don’t even have to use a wallet and can buy crypto directly from your credit card, a feature not many trading platforms offer.

>>Visit Binance Now<<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

Crypto.com – Best Crypto Exchange for New Traders

Crypto.com is one of the new exchanges that launched in the past years. You can find over 200 pairs of cryptocurrency available in their app at affordable fees. One of the highlights of crypto.com is their credit card feature, which can be used for cashback depending on the amount of CRO (their native currency( staked. Crypto.com provides its users with high liquidity and fast transactions. Its simple UI is easy to use even if you don’t have much experience in trading cryptos. 

They have invested heavily in marketing for the past year, and their CRO Token has been getting a lot of traction since then.

>>Buy Bitcoin on Crypto.com<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

Should I Buy Bitcoin in the UK ?

Bitcoin  and other cryptocurrencies have been touted in every media for the last decade. It is one of the most controversial Internet phenomena in history, with millions of people engaging in trades every day. Rarely a day goes by without some breaking news about the crypto market surfacing in the world’s media. Here is a short overview of what Bitcoin  is and whether you should invest in it.

Excellent Returns on Investment (ROI)

Two of the most important parameters used to judge whether an investment is successful or not is comparing it to returns on gold and the stock market. For the last three years, Bitcoin  has outperformed both of them. 

While the inherent volatility carries additional risk, crypt markets offer a chance for some incredible profits. Traditional investment options, even when accounting for their stability, simply can’t compete with returns on Bitcoin  and other cryptos. Those who can stomach heightened risks stand to gain a tidy profit on their Bitcoin  investment.

Retaining Value

In uncertain times, investors prefer to convert their money into assets that will not devalue over time, like gold or real estate. These days, Bitcoin  provides a valuable alternative to these traditional shelters. High inflation due to the Covid-19 pandemic adds another layer of uncertainty, especially for national currencies. Due to the limited number of Bitcoins in circulation (the supply is limited to 21 million), it is highly resistant to inflationary pressures, unlike fiat currencies.

>>Buy Bitcoin on eToro<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

Privacy and Anonymity

Completely separated from governments’ control, Bitcoin  is the first decentralized currency in the world. Not a single national bank can claim that it has any influence on Bitcoin  or most other crypto coins for that matter. Furthermore, the technology behind Bitcoin  allows investors to remain completely anonymous and free from government overreach. That fact alone is worth its weight in gold for some people. Or should we say its weight in Bitcoin .

Bitcoin Price

The best reason to buy Bitcoin  UK is the high return that comes with it. If you check price history, you will see that Bitcoin  has returned over 60% annually in the last three years. Just in 2020 alone, the return on Bitcoin  investments was more than 300%. 

The percentages become even more dramatic if you go back a few years more. People who invested in Bitcoin  before 2015 are millionaires today. While it remains true that Bitcoin  is a volatile asset, its high return more than makes up for the lack of stability you would get from traditional investment options like gold and stocks.

>>Buy Bitcoin on eToro<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

How to buy Bitcoin UK with Paypal

The best way to buy Bitcoin UK with Paypal or any other e-wallet like neteller or Skrill is eToro. Not only can you use Paypal as a deposit method, but you can also trade and buy or sell in your eToro money wallet. Though it’s true that you can buy bitcoin in the UK with PayPal directly on their website, you won’t be the actual holder of that crypto. You will only be able to see the amount you hold, and it will be held on your holder’s wallet. With eToro, however, when you buy bitcoin, you are the actual owner of it and you can send to another address or even trade with it.

Bitcoin  Price Prediction

Last year saw some massive shifts in Bitcoin  value. From April’s all-time high of $65,000, it plummeted to just above $35,000 just a month later. It recovered in November, setting a new all-time high of $68,000 after Tesla announced acquiring $1.5 billion worth of Bitcoin . It had minor fluctuation since then and is currently hovering around the $45,000 mark. 

While exact predictions about Bitcoin  price tend to be more art than science, most experts agree that in 2022 it will probably set some new records and continue the growth. The market is extremely susceptible to news and gossip, so even the smallest announcement can trigger a bull run.

>>Buy Bitcoin on eToro<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

How to Buy bitcoin  in UK – Tutorial

For the end, we have compiled a detailed step-by-step tutorial on how to buy Bitcoin UK on our recommended bitcoin  exchange eToro.

  • Step 1 – Make an account with eToro – go to the eToro site, find the “Join Now” button and click on it. You will need an email address (it has to be a valid one since you will need to confirm it later), a username, and a password to register a new eToro account. Once you receive a confirmation email, click on the link inside and you are ready to go.
  • Step 2 – Deposit funds – The minimal deposit for eToro is $10 (£7.73). You can use a bank transfer, credit/debit card, or e-wallet to deposit money to your eToro account. All popular e-wallet options are supported on eToro, including PayPal, Skrill, and Neteller.
  • Step 3 – Find Bitcoin  – Locate the search bar and type either “BTC” or “Bitcoin ” in the field. Then, form a drop-down menu, select “Trade”.
  • Step 4 – Buy Bitcoin  – In the order box, enter your desired position size (minimum $10). You will see what fraction of BTC you can receive for your money. Once you are satisfied with the amount you want to spend, click “Open Trade”. Congratulations! You are now a proud owner of BTC.

>>Buy Bitcoin on eToro<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

How to Buy bitcoin UK – Conclusion

We highly recommend investing in bitcoin  with eToro exchange, but you are free to choose whichever platform works best for you. Just make sure to compare advantages and disadvantages, like trading fees, as eToro offers lower fees of almost all crypto exchanges we have sampled. Paired with the smallest minimum deposit, it makes it perfect for beginners and casual traders. Trading on eToro is regulated in the UK by the FCA, so your investment is protected at all times and your money is safe from scams.

LA Weekly