How To Buy Bitcoin UK – Buy Bitcoin (BTC) Online in 2021

While at one point in time, buying Bitcoin (BTC) might have been a difficult process that only a handful of people could execute, nowadays, it is actually just as simple as buying any other asset out there. All you really have to do is find an excellent broker that will offer you access to competitive fees, and after you’ve made your decision, the next thing you’ll need to do is deposit funds using your credit card, debit card, or e-wallet and decide how much you actually want to invest in Bitcoin.

Where to buy bitcoin? There are platforms out there that will allow you to buy Bitcoin at an affordable rate.

However, it is not common knowledge that buying Bitcoin in the UK is actually this easy, to begin with, so today we will be looking at some of the online brokers out there who have developed the technology that allows you to purchase Bitcoin with ease. Today, you will learn everything you need to know about buying Bitcoin in the UK.

Table of Contents

How To Buy Bitcoin – Go To UK’s #1 Broker, eToro

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How To Buy Bitcoin UK – Choose a broker

Before we dive too deep into buying Bitcoin in the UK, you will first need to find the perfect brokerage or exchange that will fill this requirement. You can compare the best brokers as well as exchanges out there, but for the time being, here are the top three contenders that you should consider due to the fact that they work exceptionally well within the UK.

eToro

  • eToro lets you invest in many cryptocurrencies
  • You can even copy the methods of other investors and their decisions
  • You get an eToro crypto wallet by default

Buy Bitcoin at eToro Now >

Coinbase

  • Has one of the biggest communities out there
  • You can withdraw the funds to your private wallet
  • Coinbase is fully licensed by the FCA (Financial Conduct Authority)

Binance

  • Trade across hundreds of crypto pairs
  • The low commission when it comes to trading at 0.1%
  • Has the widest range of trading tools and features

However, keep in mind that there are over 380 cryptocurrency exchanges in existence, so you are not limited here in any way. These are just the best options selected due to their feature set, low fees, and UK availability. BTC as a cryptocurrency has dominance across the entire cryptocurrency sector, and that is why it is one of the most popular options when it comes to beginner investors. In the UK, investors are just starting to get into cryptocurrencies, and BTC is quite possibly one of the most valuable currencies they can buy.

This being the case, this guide is built with the intention of helping you buy BTC by teaching you everything you need to know. Here, we will cover which brokers are actually worth your consideration when it comes to purchasing Bitcoin, how a cryptocurrency investment actually works, what are the benefits as well as the risks, and how you can make your first purchase starting today. Let’s dive in.

How to Buy Bitcoin in the UK – A Quick Guide For 2021

If you want to get started with buying Bitcoin in the UK right away, and do not really have the time to go throughout the entirety of the article, we understand things.

As such, by far one of our best picks when it comes to buying Bitcoin in the UK is eToro, and to get started with it all you have to do is the following:

1. Open an account

eToro - Join now

 

Open an account with eToro by heading over to the official website and clicking on “Join Now” to get started.

2. Upload ID

eToro verify

 

You will have to upload your ID and verify your identity. This can also be your passport or driver’s license.

3. Deposit funds

eToro deposit

 

You will need to deposit funds into your trading account by making a deposit through the usage of a credit card, debit card, e-wallet, or even bank transfer.

4. Buy Bitcoin

The only thing left here for you to do is actually buy the Bitcoin, it should be under the ticker BTC in the “Trade” section, where you can place your order.

Congratulations, you have successfully learned how to buy BTC in the UK in just a matter of minutes, good luck with all of your trading endeavors.

If you’re still reading, and want to take an in-depth look at how all of this works, keep reading, as we’ll be going over everything else now.

Where to Buy Bitcoin in the UK

1. eToro: Best Platform to Buy Bitcoin UK

eToro

Originally launched in 2007, eToro is the ultimate recommendation when it comes to buying Bitcoin due to the fact that it has stood the test of time and has a high reputation alongside a community of over 17 million users. It operates in 100 countries, and is the perfect option for people just getting into the world of cryptocurrencies and are trying to buy Bitcoin for the very first time.

This is due to the fact that the platform has a streamlined design that simply works, and the fees are competitive when compared to the other options you have as an investor of bitcoin. You get access to 22 cryptocurrencies alongside BTC, which gives you a lot of flexibility at a point in time where you decide to shift away from BTC and try out trading other cryptocurrencies as well. The setup and account creation processes are quick, and it is fully regulated which is always an excellent sign.

Pros Cons
 Accepts a wide range of deposit methods such as credit cards, debit cards, e-wallets, and bank transfers.  You will have fees associated with the conversion of GBP to USD when making purchases.
 You can copy the investment methods implemented by the most successful traders on the platform.  Not a lot of variety in terms of altcoins.
 Access to 23 cryptocurrencies.
 Over 17 million users and a wide community.
 Commission-free cryptocurrency purchases.

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase: Invest in Bitcoin as Easily as You Invest in Stocks

Coinbase Homepage

Coinbase is slightly newer than eToro, releasing in 2012, however, it is also fully regulated and licensed. The main reason why it is a top recommendation here is due to the fact that it originally started as a platform through which you could only trade Bitcoin, and not much else. Over time, however, it evolved from that and now provides a wide range of cryptocurrency availability to its approximately 73 million verified users.

There is also an additional service called Coinbase Pro and this service offers an intuitive interface with real-time order books as well as many charting tools. When you decide to make an account here, the process is straightforward and you can browse and view assets in the range of thousands. A handful of them are tradable, however, new ones are constantly added to the platform.

Pros Cons
 Designed initially for Bitcoin trading.  Unless you’re using Coinbase Pro, expect higher fees
 Simple user interface  You aren’t really getting any wallet key control from the platform
 User Friendly
 High Liquidity
Approximately 73 million verified users
 Optimized for mobile through its application

 

Or visit Coinbase >

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Binance: The Future of Bitcoin Trading

Binance Homepage

Binance is by far the newest platform out of all of these, having been founded in 2017 in China. U.S. residents have to use Binance.US, which launched in September of 2019 specifically for them due to the differences in regulations. This means that the platform truly tries to operate based on all of the pre-set parameters. Aside from being an exchange, it has its own blockchain and cryptocurrency, making it an entire ecosystem. On Binance, you have the opportunity to trade over 300 cryptocurrencies through their own online wallet known as the Trust Wallet. The signup process is simple, and the platform runs amazingly just on just about any device out there.

Pros Cons
 Gives you by far the most cryptocurrencies to trade, with over 300  You have to learn a lot about cryptocurrencies before you can get comfortable using it
 Only 0.1% trading commission  Has a fee when you make FIAT card deposits of 2%
 It supports a lot of UK credit and debit banks as well as bank transfers
 Is known for its guides and support for its community
 Has its own liquidity pools

 

Or go to Binance >

67% of all retail investor accounts lose money when trading CFDs with this provider.

4. Crypto.com: Buy, Sell, and Trade all your Favorite Coins in One Place

Crypto.com is the perfect destination for anyone looking to get into the world of cryptocurrency. Crypto.com makes it easy to buy, sell, and trade your favorite cryptos with a user-friendly app and support for a wide range of digital currencies. Plus, with relatively low trading fees, you’ll be able to maximize your profits!

Crypto.com is the ultimate place to store your crypto and earn interest on it! You can earn up to 14.5% interest on your cryptocurrency by staking it or holding it in a Crypto.com wallet for a specified duration. Plus, you can use Crypto.com to make payments and purchases anywhere Visa is accepted. So don’t miss out on this great opportunity to grow your crypto holdings!

Crypto.com offers a simple and secure way to buy, sell, store and trade cryptocurrencies like Bitcoin and Ethereum. With fees limited to 0.40% and discounts for high trading volume or considerable holdings of the CRO currency, it’s easy to get started. And with CRO, Crypto.com’s own cryptocurrency, you can earn discounts on fees and enjoy other benefits as well!

Trading on Crypto.com just got even more cost-effective! With a 0.40% fee for new Crypto.com traders with a monthly volume of less than $25,000, now everyone can benefit from the world’s most advanced cryptocurrency trading platform.

What was once the home of various office supplies and stationery is now the home of Crypto.com! Your go-to destination for all things cryptocurrency-related, the Staples Center has been rebranded as Crypto.com Arena in a $700 million deal – and it’s definitely worth a visit!

Crypto.com is the best way to invest in the future of finance. With a decentralized exchange, a stand-alone cryptocurrency wallet, and a marketplace for NFTs, Crypto.com provides you with everything you need to get started investing in cryptocurrencies today.

Pros

  • Buy and sell a wide variety of cryptocurrencies with low fees
  • Earn cashback rewards and enjoy numerous privileges
  • Invest in a portfolio of coins and tokens with just one click
  • Earn interest on your crypto holdings
  • Safe and Secure Transactions

Cons

  • Fees are higher unless you own and utilize CRO
  • Navigating can be difficult for beginners
  • Inadequate client service
  • Discounted trading fees can be difficult to understand
  • Insufficient educational resources

 

Or go to Crypto.com >

67% of all retail investor accounts lose money when trading CFDs with this provider.

5. Gemini: The Smart Choice for your Crypto

Looking to jump into the exciting world of crypto? Gemini is here to help! Gemini makes it easy and convenient to buy crypto with your debit card, so you can start trading right away. Plus, Gemini’s platform is secure and reliable, so you can rest assured that your funds are in good hands. So come experience the power of Gemini today!

Gemini is a user-friendly way to buy and sell cryptocurrencies like Bitcoin and Ethereum. In addition, Gemini is a New York Trust company, making it one of the most reliable exchanges in the world. With Gemini, you can be sure that your transactions will be smooth and secure.

Gemini has you covered whether you’re a new trader or a pro. Gemini is the perfect place to start trading cryptocurrency — because it’s easy! In just minutes, you can be up and running with a funded account and ready to trade.

Looking for an easy and affordable way to fund your Gemini account? Look no further! Gemini makes it free and easy to transfer funds via ACH, wire transfer, or crypto transfer from external accounts. Plus, debit card deposits only incur a small fee of 3.49%.

Convenience fees are included in the quoted price of the cryptocurrency you’re purchasing and are normally 0.5% higher for buy orders. The transaction fee is determined by the currency used and the volume of the transaction.

The crypto world is full of potential, but it can be tough to navigate. Download the best crypto apps today and get your investments in on time! You won’t miss a single opportunity as long as you have internet access and enough battery life for when the markets open up tomorrow.

Gemini is one of the best and most secure places to store your crypto! Gemini’s state-of-the-art storage system ensures your assets are safe, and you still have instant access to them. Moreover, Gemini offers $200 million in insurance coverage for added peace of mind.

Pros

  • Add more diversity to your investment portfolio
  • Intuitive features for a more efficient workflow
  • A cutting-edge trading platform
  • Earn daily interest for your crypto holdings
  • High quality, reputable exchange
  • Maintain peace of mind knowing that your assets are insured
  • Makes you feel like a pro
  • Create a portfolio that reflects your personality

Cons

  • The fee structure is prohibitively expensive for modest trades
  • Could be challenging for beginners

 

Or go to Gemini >

67% of all retail investor accounts lose money when trading CFDs with this provider.

6. Kraken: Invest in Bitcoin, Ethereum, and More with Ease

Kraken is the world’s most trusted and secure digital asset platform. Kraken’s stringent security measures and various checkpoints throughout the signup process ensure that your assets are always safe and secure. In addition, with 95% of its assets stored in secure cold storage, you can be sure that your money is in good hands.

Are you looking for a way to invest in digital currencies such as Bitcoin? Then, look no further than Kraken! With low trading fees and a user interface that is easy to navigate, Kraken makes it simple for you to get started. In addition, Kraken offers 72 different cryptocurrencies for you to choose from, so you can find the perfect investment opportunity.

Instant purchases cost 1.5% for the majority of coins and 0.9% for stablecoins utilizing USD or another stablecoin.

Additional fees may apply depending on the payment method used to complete the transaction. For instance, funding costs differ from 0.5% when utilizing a bank account to more than 3.75% when using a debit card, credit card, or digital wallet.

It’s easy to be overwhelmed by all the Bitcoin news. Well, we’re here for you! Our list of the best bitcoin trading platforms will get your crypto investment off on the right foot so that it can grow with time and become even more profitable in the years ahead as well.

Looking to get into the cryptocurrency market? Kraken is your best bet! With options for cryptocurrency futures trading and a reliable, safe platform, you can’t go wrong with Kraken. Plus, Kraken’s customer service is top-notch, so if you have any questions or concerns, you can always reach out to them. So get started today and see the gains for yourself!

Pros

  • Low fees
  • Easy to use and understand
  • Simplify the process of exchanging many different crypto assets
  • Trade in a safe way
  • Earn rewards on staked assets

Cons

  • Fees are prohibitively high for novices who use the Instant Buy platform
  • Customer service is limited

 

Or go to Kraken >

67% of all retail investor accounts lose money when trading CFDs with this provider.

7. Coinmama: Fastest and Easiest Way to Buy Bitcoin in the UK

Coinmama is the perfect place to buy your first Bitcoin with your debit or credit card or bank transfer. Coinmama makes it easy for you to get started in the exciting world of cryptocurrency trading with competitive commission rates and a simple, easy-to-use platform.

Coinmama offers a simple, user-friendly platform with commissions of up to 3.81% when purchasing cryptocurrencies, in addition to 0.9% on bitcoin sales. Moreover, the platform charges a market rate based on the XBX index along with 2%.

Looking to invest in Bitcoin in the UK? Coinmama has you covered! Coinmama offers easy, convenient options for buying your favorite coins. With exchange rates listed in your local currency, it’s easy to find the right option for you. So what are you waiting for? Get started today!

Looking to get into Bitcoin? Coinmama makes it easy to buy bitcoin in the UK quickly. You can use your debit card, credit card, or bank transfer to get started. So why wait? Get involved in crypto today!

Bitcoin is all the rage right now, and Coinmama makes it easy for you to get in on the action. With just a few clicks, you can add Bitcoin to your portfolio and join the exciting world of crypto investing. Coinmama makes it simple and convenient to buy Bitcoin, so you can be on your way to financial security and prosperity.

Buying and selling cryptocurrencies has never been easier! With Coinmama, you can get started in just a few minutes and make purchases with ease. No experience necessary – Coinmama makes it simple for beginners. Plus, Coinmama’s platform is secure and reliable. So why wait? Get started today!

Pros

  • No fees for cryptocurrency deposits or withdrawals
  • Numerous payment methods
  • Verification within minutes

Cons

  • Higher fees than some other competitors
  • No iOS mobile app

 

Or go to Coinmama >

67% of all retail investor accounts lose money when trading CFDs with this provider.

8. Bitstamp: Easy and Secure Bitcoin Trading Platform

Looking to dip your toes into the world of cryptocurrencies? Bitstamp might be just the right place for you! Bitstamp offers a wide selection of major coins and popular altcoins, so you can get started with ease. Moreover, Bitstamp’s platform is beginner-friendly and easy to use.

Bitcoin is hot – and Bitstamp is the perfect place to get started. With Bitstamp’s easy-to-use interface and secure transactions, you can start buying, selling, and trading Bitcoin in minutes. So what are you waiting for? Get started today!

Bitstamp charges a fixed fee based on your 30-day trading volume for crypto trades. There are a total of 17 tiers, with 0.50% being the highest. Your fees will reduce as you advance through the levels.

A card purchase will impose an instant service fee of 5% of the purchase amount. However, you may fund your account with ACH if you reside within the USA. In this case, both deposits and withdrawals are free.

On Bitstamp, the most costly fees are those connected with depositing and withdrawal procedures. This varies by payment method, your region, and the currency being transferred.

Bitstamp is your gateway into the exciting world of crypto! Bitstamp is the easiest, most secure way to trade fiat for other digital assets. With Bitstamp, you can buy, sell, and trade your favorite cryptocurrencies in moments.

Pros

  • Simple and easy to use
  • Trade fiat money for different types of cryptocurrencies
  • Accepts debit/credit cards and bank transfers
  • Get a chance to make huge profits with minimal risk
  • Feel like you’re getting in on the ground floor of something big

Cons

  • Markets with a limited supply
  • Lack of margin trading
  • 5% surcharge on debit/credit card transactions

 

Or go to Bitstamp >

67% of all retail investor accounts lose money when trading CFDs with this provider.

9. Uphold: Dive into the Bitcoin World

Why settle for just one investment option when you can have them all with Uphold? With Uphold’s powerful selection of stocks, commodities, and cryptocurrencies from all over the world, you’ll be able to find the perfect investment for your needs. Plus, Uphold’s easy-to-use platform makes it simple to get started – so you can explore the world of investments without any hassle. Ready to get started? Sign up today!

Looking to invest in Bitcoin? Uphold makes it easy. With the acceptance of credit cards, debit cards, and bank transfers, you can buy BTC whenever and however you want. Plus, Uphold’s user-friendly platform makes it easy to get started. So why wait? Invest in Bitcoin today with Uphold!

Looking for a safe, reliable way to invest in precious metals or conduct crypto-to-crypto trading? Look no further than Uphold! Uphold offers excellent products and services that are sure to meet your needs. Uphold’s platform is safe and easy to use, and Uphold offers competitive rates that are sure to please.

Uphold users can purchase a range of assets without incurring fees using an ACH withdrawal or bank account. However, like Coinbase, Uphold levies a 3.99% transaction fee on credit card transactions. Nevertheless, Uphold’s spread is significantly wider and more volatile.

Uphold offers competitive rates so you can get the most bang for your buck. The exchange rate is dependent upon the type of asset being converted. In terms of cryptocurrencies, the spread varies between 0.80% and 1.20% for users in the United States and Europe and is roughly 1.80% in other nations.

Ready to join the cryptocurrency revolution? With Uphold, it’s easy to get started. Buy Bitcoin and other digital currencies in just a few clicks, and be ready to start trading. Plus, customer support is always available if you need help along the way. So what are you waiting for? Join the revolution today!

Pros

  • Provides trading in precious metals, equities, and cryptocurrencies
  • Without any hidden fees or spreads, you’ll always know what you’re going to get
  • Eliminate the fear of making costly mistakes when managing digital assets
  • You can begin using Uphold in minutes

Cons

  • Compared to competitors, it has fewer educational resources

 

Or go to Uphold >

67% of all retail investor accounts lose money when trading CFDs with this provider.

10. Bisq – The Decentralized Bitcoin Exchange

Bisq is the perfect cryptocurrency exchange for seasoned cryptocurrency traders who want to keep their transactions anonymous and secure. Bisq’s decentralized platform ensures that your trades are executed quickly and securely, without significant risks of server downtime or crashes. And since it doesn’t rely on a central authority, you can be sure that your money is always safe.

Bisq is a decentralized exchange, which means that it runs on a “peer-to-peer” basis, so you get all of the benefits with none of the drawbacks. For example, Bisq allows you to trade without worry with no standard identity verification required. And because Bisq operates on a decentralized basis, you can be sure that your funds are always safe.

With Bisq, you can rest assured that your transactions will be safe and secure. The platform uses a multi-signature escrow wallet to protect your deposits, so you can trade with peace of mind. Simply deposit a 0.0.1 BTC security deposit into the multi-signature escrow wallet to protect your funds and trade with confidence. Bitstamp makes it easy for you to maintain a better level of security, which enables you to stay on top of your finances no matter where you are.

Therefore, Bisq is much more secure than centralized exchanges, making it the ideal choice for anyone looking to make safe and reliable cryptocurrency transactions.

When it comes to buying and selling Bitcoin, you need to have a reputable and secure cryptocurrency wallet. Check out the best Bitcoin wallets in the UK – these sleek options offer security and peace of mind.

Looking for a safe, secure, and affordable way to trade Bitcoin? Bisq is here! Bisq’s unique fee structure ensures that all crypto traders pay a fair price for their trades. By calculating fees as a proportion of trade size, Bisq allows users to trade without worrying about being overcharged. With 0.1% for makers and 0.7% for takers in BTC, Bisq is the perfect option for anyone looking to get into the cryptocurrency market.

Pros

  • Decentralized exchange platform
  • Numerous payment options
  • High level of security and anonymity
  • Trade crypto more securely

Cons

  • Lack of regulation
  • Insufficient tools for advanced traders
  • High trading fees
  • Inconvenient to use

 

Or go to Bisq >

67% of all retail investor accounts lose money when trading CFDs with this provider.

How to Buy Bitcoin – Detailed & Explained in Full

If you are keen on Buying Bitcoin UK, you should consider eToro as it is the simplest method through which you can purchase cryptocurrencies in the UK. This broker has been selected due to the fact that it offers lower fees when compared to most of the competition and supports a wide range of cryptocurrencies as well as a high level of security alongside this.

The process is similar to many other exchanges and brokerages out there, so by learning this method here, the chances are high that you can apply it just about anywhere.

Step 1: Opening a Brokerage Account

The very first step that you need to take is to actually open up an account. This account will enable you as a future trader to facilitate all of your purchases and trades on the platform.

To do this, what you will essentially need to do is go to the official eToro website and select the “Join Now” button in order to be prompted to the account creation screen. Here, you will be asked various questions when it comes to your information such as contact details, and if you have had any prior trading experience. This is by far the simplest sign-up process out there, however, keep in mind that you will need to ensure that all of the information is legitimate as you will need to verify it at a later point in time through the KYC (Know Your Customer) procedure if you end up withdrawing a certain amount of GBP.

Step 2: Downloading The eToro Application

Here’s the thing. You have two ways to use eToro, one is through the web-based app that you can access through your internet browser on any device, and then there’s the eToro application itself. Now, what you need to know about the Bitcoin cryptocurrency is the fact that it is volatile, meaning that BTC price can change at any time. This is the process through which the cryptocurrency shifts rapidly at any point in time. If you are the kind of person that wants to have access to all of this information at any time, the eToro application is your best chance of getting to this information quickly. The application will send you real-time pricing updates directly to your mobile device and you can easily buy as well as sell cryptocurrencies on mobile as well.

Step 3: Making your initial deposit

If you want to make a deposit and live in the United Kingdom, the minimum deposit that you can make is $200. There is an exception to this, however, as when you decide to go through Wire Transfer methods, the minimum is $500 instead. $200 is valid for credit or debit card transfers and e-wallets only. Moving forward, all of the redeposits have to be at least $50, and when you fund your account using GBP, you will have an additional charge due to the fact that your funds need to be converted into USD. Keep in mind that you can instantly fund your account using a credit card, debit card, or an e-wallet as a payment method. The other methods will take a bit of time by comparison.

Step 4: Buying the cryptocurrency itself

So, you’ve created an account, downloaded the application, and added some funds into it through a deposit, perfect. The next step you need to make is to go over to the Markets page, where you can select crypto to access the full list of the available cryptocurrency assets on eToro.

Select the cryptocurrency you would like to buy and click on “Trade”.

You will need to follow this up with the Buy selection and make sure that the leverage is set to X1, this is especially important if you are a beginner. Enter the amount or number of units that you want to trade, and set the take profit parameter. You can select open trade to finish things off.

Congratulations, you have learned how to buy cryptocurrencies using eToro.

Buy Bitcoin Online – Best Place To Buy Bitcoin

Bitcoin

Let’s face it, you cannot really go into Bitcoin investing without understanding what it is, and how it works. The more you know about the currency, the better you can make predictions about how you will invest in it. It’s important that you get a bit of background knowledge on what Bitcoin actually is before you end up making an investment. So, let’s dive in.

Bitcoin is a digital currency that was created in January of 2009 by a mysterious person or a group of people that go by the name of Satoshi Nakamoto. It follows the ideas set in the whitepaper by Satoshi Nakamoto and promises lower transaction fees when compared to any traditional payment mechanism out there, including FIAT currencies. The main aspect of it that a lot of people love is that it is fully decentralized. Bitcoin has no physical bitcoins, and all of the balances are kept on a public ledger that anyone can view and has access to.

All of these transactions are verified by the processing power of computers that are run by people or organizations. These are known as miners. Bitcoins are not issued by banks or governments, and they are not valuable as a commodity. Bitcoin is a system that is a collection of computers all of which run the bitcoin code and store its blockchain.

You can think of the blockchain as this collection of blocks, where all of the computers that run the blockchain have the exact same list of blocks as well as transactions and can see the new blocks filled with each transaction that is added. This makes the system fully decentralized, and it cannot be compromised due to this. The transfer of cryptocurrencies such as Bitcoin is conducted through the usage of public keys and private keys which are stored on cryptocurrency wallets.

You can think of it this way: Bitcoin, unlike traditional FIAT currencies such as the GBP or USD, cannot be manipulated or printed. A new Bitcoin is created by code every 10 minutes.

This will occur every single day until the digital currency reaches 21 million BTC. By holding BTC, you can transfer your coins to another user.

Many people tend to purchase BTC in the UK as a form of investment, and they hope that its value will increase over time, and they can then sell it at a much higher price and withdraw their funds in GBP.

Bitcoin Price Analysis: Should I buy Bitcoin?

Bitcoin Price Analysis

In 2009, the Bitcoin software was made available to the public. In 2010, bitcoin was valued for the very first time. Keep in mind that, at this time, it was difficult to assign value to Bitcoin, and as such, since it had no monetary value, 10,000 BTC were given to purchase two pizzas. Now, you might be thinking that those were the two most expensive pizzas ever, and you’d be right from today’s perspective, but at that time, this was the very first time BTC had any value.

In 2011, rival cryptocurrencies began to pop up due to the popularity of Bitcoin, these are known as altcoins. As we move on to 2013, the price of bitcoin reached over $1,000 for the very first time. Then all of a sudden, it started to decline, and, throughout time, dropped to $300. It would take two more years for it to get up to $1,000 again. In 2016, we saw the Ethereum platform slowly catching up, however, it would never get the same high value as BTC has, at least not for now.

As we move over to 2018, BTC started rising again and even got to over $10,000 for the very first time. The cryptocurrency industry rose to a market cap of over $300 billion.

Now, as the COVID-19 pandemic hit, we saw a heightened interest in cryptocurrency investments. Why does this matter? Well, Bitcoin, being the largest cryptocurrency at that time, just kept on growing. AT the start of 2020, it was priced at $7,300, and over a year later, it got to over $30,000. IT managed to hit its all-time high at $63,729 throughout the year but has fought beyond its All-Time-High (ATH).

Bitcoin Price Prediction

Bitcoin Price Prediction

This high volatility is what makes it such an appealing investment for a lot of UK investors. They can get it at $36,495, and wait for it to go upwards to potentially over $60,000 at some point in the future, after which they can withdraw their earnings in GBP.

We cannot really say with certainty where the price of Bitcoin can be headed next though, due to its volatile nature.

On the other hand, you always have experts that agree that Bitcoin will actually stay, and only a few financial analysts are writing it off as a fad as many did in 2017 before it sky-rocketed in value.

This is a cryptocurrency that has been used around the world and has proven as durable as traditional financial systems. Furthermore, many companies are now accepting BTC for payment, and even banks are starting to figure out creative ways of offering it to as many people as possible.

They are attempting to implement bitcoin-based transactions. Coinbase held an IPO on the NASDAQ stock exchange at the start of 2021 which is a sign of the power cryptocurrencies as a whole have.

This would lead us to believe that throughout a prolonged period of time, Bitcoin actually has the power to rise in value. Supply is limited to 21 million Bitcoin that can ever be mined, and the demand will only increase if financial institutions make it easier for everyone to use Bitcoin alongside FIAT currencies.

We could, potentially once all of this is figured out, live in an era where cryptocurrencies are used for everyday purchases, such as for groceries or paying bills, and as such, this increased demand will make the value go higher.

In the short term, however, it’s a lot more difficult to predict how volatile Bitcoin will actually be. The sky-high prices of over $60,000 didn’t really last that long, however, a larger crash is less likely to happen given the fact that investors who neglected BTC a few years ago would now see the crash as an investment opportunity. Even at its lowest this year, it’s still far more valuable than it was throughout the previous years.

In the remainder of 2021, Bitcoin has seen steady but rapid growth on the rise back beyond $60,000. As of November 10th 2021, Bitcoin price is currently $66,753 as it fights against the $70,000 resistance level.

Why Buy Bitcoin in the UK?

The vast majority of people in the UK that end up buying Bitcoin, do it as a form of a long-term investment. It is a high-risk investment, due to the fact that, as previously discussed, the price of BTC is highly, highly volatile and can shift tremendously throughout each passing minute. That being the case, let’s explore and see some of the main reasons why you might want to consider purchasing BTC in the UK right now.

One thing you should note is that you can purchase Bitcoin using GBP, however, the currency through which it is discussed is USD, and as such, an exchange might even convert your GBP into USD in order to complete the transaction. Just something to keep in mind.

Bitcoin Is One of the Fastest-Growing Assets Within the Cryptocurrency World

Think about it for a second, if you decided to say hey, let’s invest £100 in BTC in 2009, that investment would now be worth over £400 million. However, while you might have missed out on the opportunity to get BTC for a few cents, the cryptocurrency is still performing far better than most asset classes nowadays.

Another way to look at it is as follows, if, in March of 2020, you purchased $5,000 worth of BTC, a year later, that would be x10 more valuable.

Bitcoin’s growth has outpaced almost every single other traditional asset class, such as stocks, bonds as well as real estate. If you want to get a high return on your investments in cryptocurrencies, Bitcoin could quite possibly be one of the best assets to consider when doing this.

The Supply of Bitcoin is Limited, as Such, It Cannot Be Manipulated

The Supply of Bitcoin is Limited, as Such, It Cannot Be Manipulated

Remember when we mentioned that there can only ever be 21 million BTC in circulation? Well, this means that over the course of time, the value of BTC should continue to rise indefinitely. Keep in mind that all of this is based on assumptions. Bitcoin is in essence a phenomenon that is here to stay for the long term.

If the Bank of England actually decided to print out money, this will devalue the British pound. BTC on the other hand is decentralized, and creating more coins than the underlying code allows is an impossibility. When you invest in stocks, the company in question could, theoretically, issue new shares. This will dilute your investments, as there will be more shareholders in circulation. This is not possible with BTC.

You can buy a fraction of 1 BTTC, as it is a currency that can be fractionalized. It can be broken down to 0.00000001 so that $30,000 BTC can be turned into a few cents.

The minimum amount of BTC you can buy in the UK will depend on the brokerage you decide to use, however. FCA-regulated eToro will allow you to invest just $200, to begin with.

You Retain Full Control Over your BTC At All Times

Many bitcoin buyers enter the market due to the fact that, when they or you buy Bitcoin UK, you will own that currency.

If you decide to withdraw the coins out of the broker you’ve chosen to buy them through, into a private bitcoin wallet, no one else, but you will ever have access to that cryptocurrency.

This is because you are the only person that has control over your private key. This is the secret password that gives you access to your Bitcoin funds and allows you to transfer it to another wallet. By comparison, within a traditional bank, you entrust the bank to look after your money, and the bank has full control over your money. They have the capacity to, for whatever reason, restrict your access to your FIAT currencies stored there. As long as you store your cryptocurrency wallet safely, no one will be able to touch your currency without your permission.

Note that, if you forget your password to your cryptocurrency wallet, it might be lost forever as well, as there is no central authority or system to recover your password and allow you to access your BTC. You have full control, so naturally, you also have the full responsibility of keeping your cryptocurrency as secure as possible.

The Cost of Buying Bitcoin

The price of BTC is determined by the market. The constantly changing demand will see the price increase, and if the opposite happens, it can decrease as well.

If you are exactly curious how much it will cost you to buy 1 BTC, the broker you end up choosing is highly likely to price this in USD. You can, however, buy only a % of that 1 BTC, depending on how much money you decide to invest.

How to Buy Bitcoin Using PayPal

There are plenty of investors out there located in the UK that simply want to buy bitcoin through the use of PayPal. This is due to the fact that PayPal is simple, safe, and convenient when it comes to making purchases online. There are only a handful of brokers out there that actually allow you to use e-wallets in order to make an investment, and instead, they typically focus on debit cards as well as bank transfers.

The FCA-regulated platform known as eToro supports PayPal deposits for example, but you can also use Skrill and Neteller if that is your cup of tea. All you need to do is meet the $200 minimum deposit and decide how much BTC you want to actually buy.

Where To Buy Bitcoin – BTC Exchanges

Bitcoin is a decentralized digital currency and this means that it is a completely different type of system when compared to traditional stocks. However, when you look at the principles behind both of them, they are quite similar. Bitcoin is listed on third-party cryptocurrency exchanges such as stocks. The price of both of them is based on the demand as well as the supply which has the possibility of rising or falling in value. In other words, there are many different ways through which you can invest in BTC through the brokerages or exchanges on offer.

How to Buy Bitcoin Anonymously UK

When it comes to purchasing BTC in the UK anonymously, this is definitely a possibility, however, this is only the case when using an unregulated cryptocurrency exchange. This is due to the fact that almost every regulated cryptocurrency exchange out there will require you to verify your identity in order to comply with government know-your-customer (KYC) regulations. Unregulated Bitcoin exchanges do not have government protection for investors and have frequently been the target of many attacks in terms of hacking.

Where to Buy Bitcoin: Safest Way to Buy Bitcoin UK

Keep in mind that if you look at the history of Bitcoin, you will find that there have been many scandals that have occurred. This is due to the fact that cryptocurrency exchanges have the potential of being hacked for millions of dollars worth of Bitcoin.

With all of this in mind, you need to know where to buy Bitcoin safely, and the first step towards doing so is to always use a regulated platform.

eToro for example is licensed by the United Kingdom’s Financial Conduct Authority, alongside regulators in both Australia and Cyprus. You always have peace of mind while using eToro that it is safe due to the fact that it allows you to buy and sell BTC in one of the safest environments out there. This means that every time you put in your credit or debit card information; you know that your data will remain as secure as possible.

When you compare this to unregulated and unlicensed exchanges, you will be putting your funds at risk. Always use a regulated platform for the highest level of security and safety.

Risks of Buying Bitcoin in the UK

Keep in mind that with just about any investment you ever make, there will be risks involved. The same can be said about buying cryptocurrencies. In fact, there are several risks that you need to consider and be aware of before buying Bitcoin.

Financial Losses

When you end up purchasing Bitcoin, you will be doing so with the intention of having that cryptocurrency rise in value throughout time. However, the one thing that you should always have at the back of your head is the fact that things do not always go according to plan, and when we invest in the financial markets, at one point in time financial losses might occur. There is no guarantee that the price of BTC will go up. If you sell your bitcoin at a price lower than the one you purchased it at, then you will have financial losses.

Unknown Future Regulations

Aside from a few exceptions, Bitcoin is not regulated in most countries across the globe. This includes the UK. When the UK, eventually, enacts cryptocurrency-specific legislation, it remains to be seen if this will embrace or hinder the future of all cryptocurrencies, not just bitcoin.

The FCA announced as of January of 2021, cryptocurrency CFDs will no longer be permitted in the UK. This was due to the speculated and high-risk nature of the cryptocurrencies, which intend to protect UK retail clients.

Theft

Many people will end up buying cryptocurrencies due to the fact that they like the thought of simply owning an asset, without the need to entrust the funds with a third party. In order to achieve this, you would need to store the coins in a private digital wallet.

If you lose your private keys or passphrase, it would be impossible to regain access to your funds. If you are using a hot wallet, or in other words, a wallet that is connected to the internet, there is always the risk of that wallet being hacked.

Selling Bitcoin: A Quick Overview

 Selling Bitcoin: A Quick Overview

When you do eventually get around to the point where your BTC has gotten higher in value, the process will vary depending on how you bought it, and how you ended up storing it.

If you bought it on eToro, the BTC was held at eToro on your behalf. A few years later, you can sell it, and to do so, you simply instruct eToro to sell it with a click of a button. After you end up selling it, the money is added to your eToro cash balance, which you can then withdraw back to your debit card.

However, if you used a traditional cryptocurrency exchange, and moved your coins to a private wallet, things start to look a bit different. Once you purchase the Bitcoin, you can withdraw the coins to your private wallet. When you decide to sell them, you need to transfer the coins back from your private wallet onto the exchange, and then you need to convert the BTC into GBP. Most exchanges will only allow you to convert it to USD, after which you can convert the USD into GBP. Finally, you can transfer the proceeds back to your bank account.

It’s easier to use eToro for this, and you won’t have to worry about storing your cryptocurrencies in a private wallet or going through all of that conversion. You can instantly cash out your BTC as well, without any delay.

eToro – Best Broker for Buying Bitcoin in the UK

At this point, hopefully, you are aware of all of the ways through which you can buy Bitcoin UK, as well as all of the risks involved with it. If you came to the conclusion that the benefits far outweigh the risks, eToro is the best broker through which you can purchase Bitcoin (BTC) as well as other cryptocurrencies.

The beauty of eToro is in the fact that it is fully regulated, and that you also have access to 22 additional cryptocurrencies to invest in alongside BTC including Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Dash (DASH), Litecoin (LTC), Ethereum Classic (ETC), Cardano (ADA), IOTA (MIOTA), Stellar (XLM), EOS (EOS), NEO (NEO), TRON (TRX), ZCASH (ZEC), Binance Coin (BNB), Trezos (XTZ), Compound (COMP), Chainlink (LINK), Uniswap (UNI), Yearn.Finance (YFI), Dogecoin (DOGE), Aave (AAVE), and Decentraland (MANA). This means that you will always have peace of mind each and every time you buy cryptocurrencies.

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About Milko Trajcevski PRO INVESTOR

Milko Trajcevski is a truly determined content writer with a passion for the crypto industry and has a successful track record of researching and effectively writing articles about cryptocurrency, non-fungible tokens, and blockchain covering the fields of crypto-asset regulations, wallets and exchanges, liquidity, altcoins, DApps, forks, mining, laddering, security and enterprise blockchain technology.