How to Buy Bitcoin With a Credit Card in the UK – In Under 5 Minutes

Fact Checked by Gary McFarlane

Market moves can occur in a matter of seconds in the Bitcoin (BTC) trading scene. Fortunately, it’s now possible to buy Bitcoin with a credit card for speed and convenience. You do, however, need to check what fees your chosen Bitcoin broker charges and whether or not the platform is regulated by the FCA.

Today, we explain how to buy Bitcoin with a credit card in the UK, review the best brokers for the job, and walk you through the process of how you can complete your purchase in less than five minutes!

#1 Bitcoin Broker in the UK – eToro

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  • Invest in a wide range of cryptocurrencies
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How to Buy Bitcoin With a Credit Card – Quick Preview

To buy Bitcoin with a credit card in the UK you will be best doing so at a highly regarded crypto platform. If you don’t have time to read this guide right now, you will see a quick preview of how to complete your purchase below:

  • Step 1: Sign up with FCA-broker eToro – Top-rated eToro supports credit card payment and fractional investments from $25 (around £18). Sign up for an account by entering basic information like name, address, email, password, and date of birth.
  • Step 2: Complete the KYC procedure – Additionally, you need to give a little information about your trading history and financial standing. For the broker to adhere to strict anti-money laundering laws, you also have to send a copy of your passport and a utility bill or bank statement to prove your residential address.
  • Step 3: Fund Your Account Using Your Credit Card – Select ‘credit card’ from the available payment types and enter the amount you wish to deposit. Next, enter your long card number, full name, date of expiry, and three-digit CVV from the security strip on the back.
  • Step 4: Buy Bitcoin – Finally, you can buy Bitcoin with a credit card. Complete the trading order form by entering the amount of BTC coins you want to buy, in units or a monetary figure. Confirm all by clicking Open Trade. eToro will execute this straight away.

If you aren’t sure which Bitcoin brokerage will be most suitable for your needs, you will see full reviews of the top five platforms in the sections below.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy Bitcoin With a Credit Card – Full Broker Reviews

To save you some time researching the hundreds of crypto platforms online, you will see below thorough reviews of the best brokers to buy Bitcoin with a credit card in 2021.

1. eToro – Overall Best Broker To Buy Bitcoin With Credit Card UK

etoro reviewRegulation offers us peace of mind that we are making Bitcoin purchases via a legitimate provider. The FCA, ASIC, and CySEC regulate eToro and the broker handles millions of accounts from clients around the world. The platform is uncomplicated, which makes it suitable for everyone. This is the best place to buy Bitcoin with a credit card for many reasons – which we talk about in this review. Notably, you can purchase BTC tokens starting from just $25 (around £18)!

To buy Bitcoin with a credit card via this regulated platform, you need to complete a quick sign-up process. This entails entering some details about yourself and then uploading a photo ID and a document to prove your address. Once this has been validated by eToro, which should be instant, you can deposit from $200 (around £145) to purchase BTC right away. There are heaps of other cryptocurrencies to buy and sell with this payment method. We found this to include large-cap coins such as Ethereum, Litecoin, Cardano, and Ripple, and smaller tokens such as Yearn Finance, Compound, Maker, and more.

etoro review 1

For those who may want to create a diverse portfolio later – this broker also lists plenty of other markets such as ETFs and stocks with 0% commission. When you are ready to add funds after setting your account up, you will need to pay a small 0.5% exchange fee. This is because eToro is operated in USD so will convert your GBP for you. If you would like to buy BTC tokens passively – check out the Copy Trader feature whereby you mirror the buy and sell orders of someone you have invested in.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Buy thousands of international stocks at 0% commission
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Regulated by the FCA, CySEC, and ASIC
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Trusted Bitcoin Broker in the UK for Beginners

coinbase reviewCoinbase serves millions of clients globally and is another well-known broker on this list. Several US authorities license this platform, so you can count on a safe environment to purchase cryptocurrencies. The minimum investment starts from just £2. Furthermore, you can easily buy Bitcoin with a credit card here as the platform is very simple to navigate for beginners. Importantly, there is a charge of 3.99% for this form of payment.

To buy Bitcoin with a credit card, you will first need to upload ID and documentation so that the broker can validate who you are, like at the aforementioned eToro. It is also worth considering making your purchase with a UK bank transfer, as this comes without a charge (but can take days to clear). The standard commission fee at Coinbase is 1.49% – which is still expensive. The platform does, however, offer over 5,000 markets. Cryptocurrencies include some of the world’s largest coins, like Tether, Cardano, Ethereum, and Polkadot. Smaller offerings consist of Lobstex, LUXcoin, BonusCloud, and tons more.

Coinbase review

If you want to know how to buy Bitcoin with a credit card on the go – this is a simple case of downloading the free Coinbase app on the App Store (for Apple users) or Google Play (Android) and signing into your account. This broker also offers its own crypto wallet extension, which can be added to your browser. With this, you can buy, sell, swap, and store your BTC tokens in safety using cold storage technology. This also comes with multi-level authentication to prevent any unauthorized transactions.

Pros

  • One of the most popular cryptocurrency exchanges
  • More than 56 million users
  • Supports instant debit card purchases
  • Dozens of digital currencies to choose from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, the UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

3. OKEx – Best Bitcoin Broker in the UK for Low Commissions

Millions of traders and investors from around the world have an account with OKEx. This is considered a safe platform from which to buy Bitcoin with a credit card, largely due to its identity verification policy and mandatory 2FA. Before you can buy BTC tokens with this payment method, you will need to sign up and enter some information about yourself – such as your name, nationality, and home address.

You will also need to upload a copy of your photo ID and perform facial verification via Netverify. The platform states that this usually takes around 10 minutes from start to finish. Onto listed markets – this guide discovered over 400 crypto pairs. As well as Bitcoin, you will also find digital currencies to include Ethereum, Cardano, Ripple, Tether, Polkadot, Litecoin, and plenty of others. OKEx does charge commission, but we found it to be competitive – starting at 0.10%.

OKEx review

You can deposit using any BTC tokens you already hold either directly from your own wallet or a third-party exchange. Alternatively, head over to the OKEx platform and select GBP as your currency in the order box. Next, you can enter the amount of Bitcoin you want to purchase in the space saying ‘You pay’. Or, enter the unit of BTC tokens you require and the relevant amount will update in British pounds. Select your chosen credit card and click ‘Buy’.

Pros

  • Trusted crypto exchange with over 20 million users
  • More than 400+ digital currency pairs
  • Buy and sell cryptocurrencies with a debit/credit card or bank transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation and highly secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products are too complex for beginners

at eToro, the UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

4. Binance – Best Bitcoin Broker in the UK for Asset Diversity

Binance is a top-rated crypto exchange that incorporates security features such as two-factor authentication, address whitelisting, and the option of restricting device access. As such, despite its lack of regulation, there are safety measures in place. This platform serves millions of investors and lists hundreds of cryptocurrencies – so growing a diverse portfolio won’t be a problem.

This guide found coins with large market capitalization, such as Ethereum, Cardano, Polkadot, Ripple, and plenty more. Alternatives include Polygon, Terra, Monero, Maker, and many others. To buy Bitcoin with a credit card you will pay 1.8% of your deposit amount. The standard commission after that is 0.10%, which is competitive in this sector. The minimum order size at the Binance crypto exchange is 0.0001 BTC.

As with the other reputable platforms on our list of brokers, Binance will require you to go through an account verification process to buy Bitcoin with a credit card. After this, go to ‘Wallet’, select ‘Fiat’ followed by GBP, and enter the amount of BTC tokens you want to purchase. After entering your credit card details – click the ‘Deposit’ button. This platform also provides access to tools needed to predict the markets, such as technical indicators and price charts.

Pros

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant debit/credit card purchases
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, the UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

5. Coinjar – Ideal Broker for Small Bitcoin Investments

coinjar reviewCoinjar is the best place to buy Bitcoin with a credit card if you want to invest smaller amounts in this speculative asset. For instance, you can deposit just £5 to invest in BTC coins here. In terms of safety, there are tons of security features in place. This includes TLS (Transport Layer Security) and data encryption. Furthermore, 90% of client digital currencies will be kept in offline cold wallets.

For an extra layer of safety, the provider regularly performs security audits. As well as Bitcoin, you will find both prominent and less liquid markets here – inclusive of Ethereum, Litecoin, Chainlink, Uniswap, Maker Dai, and Synthetix – to name just a handful. When you have signed up and uploaded the relevant ID – as with the previously mentioned providers – you can buy Bitcoin with a credit card.

coinjar review

When you purchase Bitcoin with a credit card via the Instant Buy investing tool, you have to pay an all-in commission totaling 2%. So, that’s £20 for every £1,000 deposit. A key advantage is that you can withdraw your purchased BTC coins with ease. An alternative payment option is that of a UK bank transfer via the Faster Payment network. Once your account is funded with GBP, Coinjar charges a 1% commission when on all buy and sell orders. Coinjar also offers a popular trading app that is compatible with iOS and Android devices.

Pros

  • Has been active in the crypto brokerage arena since 2013
  • Very user-friendly platform – so perfect for beginners
  • Minimum deposit of just £5
  • No fees to deposit funds via Faster Payments
  • Debit/credit cards also supported
  • Top-rated mobile app

Cons

  • Too basic for experienced cryptocurrency traders

at eToro, the UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy Bitcoin With a Credit Card – Key Advantages

When researching how to buy Bitcoin with a credit card, it’s good to know the advantages of buying digital currencies with this convenient payment type! This includes advanced security on multiple levels, fast transactions, speed, convenience, and more – all of which we cover next.

Fast Transactions

Gone are the days when Bitcoin had to be mined or bought via an offshore exchange. The only way you could pay for BTC coins then was to arrange a wire transfer or post a cheque. These days, when researching how to buy Bitcoin with a credit card, in the UK you will see plenty of brokers able to facilitate this!

  • Bank transfer can take between 3 and 10 business days to clear – delaying your ability to buy Bitcoin instantly
  • You can buy Bitcoin with a credit card instantly with many (but not all) brokers – provided you have completed the KYC process
  • e-wallets are also fast, with platforms like eToro supported Paypal and Skrill

The cryptocurrency markets are traded 24/7 and Bitcoin price can fluctuate frequently. As such, a key advantage of this payment type is that it is one of the fastest ways to purchase Bitcoin – allowing you to seize the moment. As we said though – you must first enter your personal information such as name and address and then upload the required ID and documentation. After that, you are free to buy Bitcoin with a credit card.

Practicality and Convenience

Once you have completed the KYC process of having your ID and address validated by your chosen broker, you will find that one of the most convenient and practical ways to buy Bitcoin is with a credit card. One way in which this payment option makes life easier is when you wish to make a withdrawal – many brokers will simply send the funds back to the card used to make your initial deposit.

eToro Bitcoin Chart

When investors in the UK are learning how to buy Bitcoin with a credit card, they may be put off by having to enter their personal details online. The fact is that choosing the right broker is a big part of staying safe when investing on the internet.

Don’t forget, you can always take safety into your own hands by opting to access the markets via an FCA-regulated brokerage such as eToro. Here, you can buy, sell, store and swap Bitcoin in a secure environment with low fees.

Credit Card Fees are Declining

Many people associate credit cards with hefty fees. The truth of the matter is that the cost of buying Bitcoin with a credit card is lower than ever – if you select the right platform.

Below, you will find a few examples of deposit fees to buy Bitcoin with a credit card:

  • Coinmama stipulates 4.9% – 5.9%
  • Coinbase charges 3.99%
  • The fee at Coinjar is 2%
  • You will pay 1.8% at Binance
  • The deposit fee at eToro is just 0.5%

As we touched on, at eToro the fee you pay when making a deposit to buy Bitcoin with a credit card is just 0.5%. This is to exchange GBP to USD. In other words, if you add £1,000 to your broker account using this or any other payment method – the platform will only charge you £5.

How to Buy Bitcoin With a Credit Card UK – Criteria to Pick the Right Brokerage

We have already reviewed the best brokers to buy Bitcoin with a credit card in the UK. Now, we offer a list of criteria to help you choose a superior platform for your personal needs. This includes compatible deposit methods, the range of markets, regulation, and much more – which should give you a better idea of what you might prioritize.

Compatible Deposit Methods

Checking what deposit methods are available is an absolute must when you are investigating how to buy Bitcoin with a credit card in the UK. This is because not all online brokers or crypto exchanges are able to accept this type of payment.

The payment types offered by the best online brokers to buy Bitcoin are as follows:

  • Credit and debit cards such as Visa and Mastercard
  • e-wallets like PayPal and Skrill
  • UK bank transfer

Note that if you change your mind and opt to purchase BTC coins using a UK bank transfer, this can take days to clear in your broker account. eToro allows you to buy Bitcoin with a credit card instantly and with ease – after the broker has verified your identity (which is usually instant).

Reputation and Regulation

Reputation and regulation tell us heaps about potential brokers when researching how to buy Bitcoin with a credit card. In order to obtain and retain a license, regulated brokers must follow a strict set of rules that have been designed to stamp out financial crime – and ensure safe conditions to buy and sell cryptocurrencies.

eToro Bitcoin Stats

Some of the biggest licensing authorities are as follows:

  • The Financial Conduct Authority (FCA) – the UK
  • The Cyprus Securities and Exchange Commission (CySEC)
  • The Australian Securities and Investments Commission (ASIC)
  • The Commodities and Futures Trading Commission (CFTC) – the US

Our number one broker to buy Bitcoin with a credit card – eToro, is under the watchful eye of three of the above regulators. This includes that all-important license with the UK’s FCA.

Low Fees and Transparency

As we mentioned, the deposit fees to buy Bitcoin with a credit card aren’t as steep as they used to be – but it is still important to check what you will be liable for before signing up with a broker.

Other potential broker fees include:

  • Trading Commissions
  • Withdrawals
  • Spreads
  • Inactivity fees

eToro makes the conundrum of how to buy Bitcoin with a credit card a no-brainer. You will only pay the previously mentioned 0.5% charge to deposit with this payment type, and fees are super competitive across the board.

How to Buy Bitcoin With a Credit Card in the UK: Complete Step-By-Step Instructions

By this point in our comprehensive guide on how to buy Bitcoin with a credit card UK, you are probably eager to begin. To get the ball rolling, we have listed five steps to complete your purchase in less than five minutes.

As we said, you should have a trustworthy broker by your side when entering this historically volatile market. We found eToro to be the best all-rounder for the job, so will use this platform for the purpose of this short tutorial.

Step 1: Sign up With a Respected Bitcoin Broker

Create an account with eToro by clicking ‘Join Now’ and entering your personal information. This includes your first and last name, email address, and mobile number. You will also need to choose a username and a strong password.

how to join etoro

To buy Bitcoin with a credit card, you will also be required to enter information such as your national insurance number, date of birth, and nationality. Confirm all by clicking ‘Open Account’ to progress to stage 2.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Complete the KYC Procedure

Now, to buy Bitcoin with a credit card in the UK, you should complete the KYC (Know Your Customer) procedure – as we’ve talked about a few times during this guide.

This entails the following:

  • Sending a copy of your passport or driving license – your photo, name, date of birth and valid expiry date must be clearly visible
  • Uploading a clear copy of a bank statement or credit card statement – whatever you choose must show your name and address and be dated within the last three months

This KYC process can take less than 2 minutes at top-rated broker eToro. Note – the fastest form of photo ID to process for this broker is a passport.

Step 3: Add Funds to Your Account Using a UK Credit Card

Before you can buy Bitcoin with a UK credit card, you will need to deposit enough funds to your account to cover your purchase. To get started at eToro you can add the minimum first-time deposit amount of $200 (around £145).

After you meet this deposit amount, you only need to invest from $25 into Bitcoin. You can use the remaining funds to invest in or trade other assets – should you wish.

  • Nevertheless, click ‘Deposit Funds’ which can be found at the bottom left of the main dashboard.
  • When the box appears, you can enter the amount you wish to add to your account.
  • Next, select ‘Credit/Debit card’, and enter your card details.
  • When you have finished and checked everything, you can confirm by clicking ‘Deposit’.

The next time you add money to buy Bitcoin with a credit card – you should just have to enter the CVV.

Step 4: Find Bitcoin from Available Cryptocurrencies

Once your deposit has been processed, you can find Bitcoin. This can be done by searching under all available markets – or using the search bar found on the main dashboard.

buy bitcoin with credit card UK

Once located, click ‘Trade’ and an order box will appear so that you can buy Bitcoin.

Step 5: Fill Out an Order Form to Buy BTC Tokens

The final step is to place an order to complete your Bitcoin purchase. As we said, at eToro you can stake from just $25!

Buy Bitcoin at eToro

Enter the amount of BTC coins you wish to buy and confirm all by clicking ‘Open Trade’. eToro will do the rest for you and you will see the Bitcoin you have bought in your account portfolio almost immediately.

How to Buy Bitcoin With Credit Card UK: Full Conclusion

In this guide, we have detailed how to buy Bitcoin with a credit card. Without a doubt, the safest way to purchase BTC coins with this method of payment is to do so via a trusted and reputable broker, preferably one that is regulated. We reviewed numerous top-rated crypto brokers and whittled the best down to just five – inclusive of Coinjar, Binance, OKEx, and Coinbase.

However, the overall best place to buy Bitcoin with a credit card turned out to be eToro.

As well as serving more than 20 million clients, this broker is licensed by the UK’s FCA. The platform also lists heaps of altcoins and markets such as ETFs, stocks, commodities, indices, and forex. This guide found fees to be extremely competitive at eToro, including a deposit charge of just 0.5%. Plus, credit card purchases are instant!

eToro – Best Broker to Buy Bitcoin With a Credit Card

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.