Invest In Bitcoin UK – How to Invest in Bitcoin in the UK In Under 5 Minutes!
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
More and more people in the UK are taking an interest in Bitcoin – not least because the digital currency has yielded some phenomenal returns since it was first launched in 2009.
You do, however, need to tread carefully when investing in this volatile and speculative asset class – as the risks are much higher than more traditional instruments like stocks and mutual funds.
In this guide, we walk you through the step-by-step process of how to invest in Bitcoin UK – alongside a brief discussion on the best online cryptocurrency brokers to open an account with.
Table of Contents
If you want to invest in Bitcoin in the UK – you will first need to choose a suitable online broker that offers low fees. Below you will find an overview of the best brokers to consider when investing in Bitcoin for the first time.
We review the above brokers in great detail further down in this guide.
If you want to bypass the jargon and get straight to your BTC purchase – the below steps will show you how to invest in Bitcoin in the UK in less than 5 minutes!
As soon as you hit the ‘Open Trade’ button, eToro will instantly execute your Bitcoin investment order. The digital tokens will then appear in your eToro portfolio = which is where you can keep tabs on your investment in real-time!
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Bitcoin is now a multi-trillion dollar asset class – so it makes sense that plenty of online platforms allow you to invest in the digital currency. You do, however, need to tread very carefully when choosing a Bitcoin platform – as many are unregulated. On top of safety, you also need to consider the costs involved when investing in Bitcoin – alongside the type of payment methods supported.
We have done the hard work for you by reviewing the very best places to invest in Bitcoin in the UK – which you will find in the sections below.
In addition to the FCA, eToro – which is now used by over 20 million people, is also regulated by financial bodies in Cyprus and Australia. Once you have gone through the 5-minute process of opening an account – eToro then allows you to add funds via debit/credit card (Visa, MasterCard, Maestro), bank transfer, or an e-wallet (Paypal, Skrill). The minimum deposit for new customers is $200 (about £145), but you only need to invest $25 into Bitcoin. As such, you can use the remaining balance to invest in other digital tokens or alternative asset classes like stocks.
When it comes to fees, eToro offers a very competitive pricing model that is unrivaled in the UK cryptocurrency scene. This is because you won’t pay any commissions – rather, you simply need to cover the spread. In the case of Bitcoin, the spread starts at 0.75% – meaning that for every £100 invested you will only need to pay about 75p. As soon as you have invested in Bitcoin, you don’t need to worry about wallets and third-party storage. This is because eToro takes care of storage for you – so the tokens remain in your account until you decide to cash out.
When the time to offload your Bitcoin investment does occur, it’s just a case of heading over to your eToro portfolio and clicking on the ‘Sell’ button. If you have a broader interest in the cryptocurrency arena, you’ll be pleased to know that eToro offers lots of other tokens. For example, you can easily invest in Ethereum, Ripple, AAVE, Litecoin, EOS, Ethereum Classic, Bitcoin Cash, Uniswap, and more. You can even invest in a professionally managed cryptocurrency portfolio – which consists of a diversified basket of tokens.
You also have the Copy Trading feature, which permits passive investing. The way this works is you will choose a successful eToro trade to copy and then all subsequent positions will be mirrored in your own portfolio. In addition to digital currencies, eToro also gives you access to 17 UK and international stock exchanges. This means that you can buy shares in companies listed in the UK, North America, Europe, and more The minimum stock investment is just $50 (about £36). Other supports assets include ETFs, forex, commodities, and indices.
Pros
Cons
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Capital.com is a highly reputable online broker committed to making trading easy and fun.
With their user-friendly platform, you can trade CFDs on some of the world’s most iconic shares, indices, commodities, currencies, and cryptocurrencies.
So whether you’re a seasoned trader or just starting out, Capital.com has the products and services to suit your needs.
With access to thousands of CFD assets, Capital.com makes it easy for you to find the right market and trade with confidence.
Capital.com is an excellent platform for those who want to get the best price possible on their trades.
Their variable spreads mean that you’ll always get the best price during market hours, and their wide range of instruments means that you can find the right trade for your needs.
With thousands of assets to trade at 0% commission, you’ll be able to take your trading to the next level.
Whether you’re a seasoned pro or just starting out, Capital.com has everything you need to succeed.
And because Capital.com knows that security is paramount when dealing with cryptocurrencies, they’ve implemented several strict security measures to ensure that your funds are always safe.
With their world-class platform and exceptional 24/7 customer service, they’ll make sure you have all the tools you need to trade with confidence.
So what are you waiting for? Sign up today and start reaping the benefits of Capital.com!
Pros
Cons
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.25% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.
Alvexo is a world-leading online trading broker, providing traders with access to the global financial markets. Alvexo offers a user-friendly online Bitcoin trading experience that is perfect for both novice and experienced traders. With a wide variety of asset classes to choose from, users can trade CFDs on everything from stocks and indices to commodities and cryptocurrencies.
Furthermore, Alvexo is also one of the few brokers that are regulated by CySEC, meaning that you can be confident in the safety and security of your trading experience.
Alvexo is the premier destination for online Bitcoin trading. Alvexo offers a wide array of products and services, each with its own unique advantages. At Alvexo, they never charge commissions on trades, so you can focus on making the most profitable investments. Alvexo’s intuitive platform makes it easy to find the assets that fit your strategy, and their competitive spreads ensure you always get the best deal.
Alvexo offers a range of security features that ensure your funds are always safe. With negative balance protection, advanced security measures, and segregated client funds, you can trust Alvexo to keep your money safe.
With spreads as low as 2.9 pips for traders using a Classic account, Alvexo offers competitive rates and excellent customer service. For professional traders who use an Elite account, spreads can be from 0.1 pips! Sign up for an Alvexo account today and experience the difference!
Pros
Cons
70.81% of retail investor accounts lose money when trading CFDs with this provider.
Since its launch in 2020, Margex has been making waves in the crypto industry and is now one of the most popular crypto derivatives trading platforms around.
Based in Seychelles, Margex offers a unique and user-friendly trading experience that has seen it gain mass appeal amongst crypto traders.
Margex is the best platform for those who value their privacy. KYC is not required, which means you can keep your personal information to yourself. With Margex, you can trade with confidence, knowing that your identity is safe.
Furthermore, Margex is an excellent crypto exchange to trade because it always strives to have the most accurate prices. MP Shield is an AI-based system that protects you from price manipulations, so you can be sure that the prices on Margex are always fair. With Margex, you get a secure and robust trading experience.
Compared to other platforms, Margex’s fees are very reasonable – maker fees are only 0.019% per trade, and taker fees are 0.06%. So you can rest assured that you’re getting a good deal on every trade.
One of the key strengths of Margex is the selection of assets that it offers. On the platform, you can trade any major cryptocurrency pair such as BTC/USD with leverage of up to 100x. This gives you the opportunity to make substantial profits, even if the market is volatile.
With Margex, you can use a BTC address or QR code to deposit funds in minutes.
Margex is the easiest way to buy Bitcoin with a credit card. Margex makes it simple for users who are new to cryptocurrency and don’t have Bitcoin to get started. Their platform has direct integration with Changelly, so you can be sure you’re getting the best rates possible. So buy Bitcoin today and join the future of money!
You can get started with just $10, making it accessible for everyone.
So if you’re looking for a safe and private way to invest in Bitcoin, look no further than Margex!
Pros
Cons
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Once you have entered your personal details and uploaded a copy of your passport or driver’s license – you can then invest in Bitcoin with your UK debit card. Take note, although the transaction will be processed instantly – you will pay a hefty fee of 3.99%. This means that for every £100 invested – Coinbase keeps £3.99. The more cost-effective option is to transfer funds from your UK bank account – which is fee-free. When the funds arrive (1-2 working days) – you can then process to invest in Bitcoin at a commission of 1.49%.
When you have invested in Bitcoin at Coinbase, the digital tokens will appear in your online portfolio. If you wish, you can keep your BTC funds there – as Coinbase is home to top-grade security protocols. This includes keeping 98% of client digital assets in cold storage and mandatory two-factor authentication. You can also withdraw your Bitcoin tokens to a private wallet – but this will require some knowledge of cryptocurrency storage controls (e.g. private keys, data backup).
Looking to get a little more serious about your trading? Look no further than Coinbase Pro! With advanced features and various order types, Coinbase Pro offers experienced traders the tools they need to make smarter investments. So why wait? Sign up now and start trading like a pro!
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
The other payment option is to transfer funds from your UK bank account. The key issue here is that OKEx does not offer a Bitcoin market against GBP – so additional FX fees will apply. Regardless of how you pay for your UK Bitcoin investment, it’s best to withdraw your digital tokens to a private wallet once the purchase is complete. This will ensure that you retain full control over your Bitcoin funds and thus – your capital isn’t at risk should OKEx get hacked.
With that said, OKEx is behind some impressive security features. For instance, the platform allows you to keep your account safe by setting up compulsory 2FA. This means that you will need to enter a code that is sent to you via SMS on each login attempt. The platform also claims to keep client digital funds in cold storage – meaning they are stored offline. In total, you will find over 400 digital tokens at OKEx, alongside a range of notable tools such as crypto interest accounts and loans.
Looking for a top-quality bitcoin trading platform? Look no further! Our list of the best bitcoin trading platforms will help you get started with cryptocurrency investing in no time. It can be challenging to know where to begin with so many options to choose from. But don’t worry – our experts have done all the hard work for you. We’ve compared and analyzed all the leading exchanges, so you can rest assured that you’re getting the very best deal. So what are you waiting for? Start trading today and watch your profits soar!
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
If you’re thinking about investing in cryptocurrencies other than just Bitcoin – you’ll want to choose a platform that offers plenty of markets. In this respect, Binance is one of the best options on the table for asset diversity – as the exchange is home to hundreds of tokens. This covers crypto assets of all shapes and sizes – so you can easily create a diverse portfolio.
The first step, however, is to open an account and add some funds. You can do this easily by making a deposit with your debit or credit card. The minimum is just £15 and the payment will be processed instantly. Take note, you will need to upload a copy of your passport or driver’s license as part of the platform’s KYC process. In terms of fees, you will pay 1.8% of the deposit amount. Once you have funded your Binance account, you can then proceed to buy Bitcoin at a super-competitive commission of just 0.10%.
Best of all, the exchange offers a market on GBP/BTC – so you don’t need to worry about foreign exchange fees. The main drawback with Binance is that the platform can no longer offer fiat currency withdrawals. This means that when the time to cash out arises, you will need to transfer your Bitcoin tokens to another exchange. Binance might, however, reinstate its GBP bank account withdrawal facility soon – so keep an eye on this. Finally, Binance allows you to invest in Bitcoin through its main website or via an Android/iOS mobile app.
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
For this, you will be charged an all-in commission of 2% – so that’s £2 for every £100 invested The BTC tokens will appear in your CoinJar wallet instantly – which you can then withdraw should you wish. The other option is to fund your account manually via a UK bank transfer. CoinJar utilizes the Faster Payments network – so the funds should arrive in a matter of minutes. You will then be able to invest in Bitcoin at a commission of 1%. Both deposit options require you to go through a speedy KYC process – meaning you will need to upload a copy of your ID.
In addition to Bitcoin, CoinJar allows you to invest in a number of other digital currencies. Many of its supported tokens fall within the remit of decentralized finance (Defi) coins – which many believe could be the next big thing in the crypto space. This includes the likes of Chainlink, Uniswap, Yearn.finance, Maker Dai, 0x Token, AAVE, and Synthetix. Another feature that is popular at CoinJar is the ‘Recurring Buy’ tool. This allows you to invest in Bitcoin and other cryptocurrencies at fixed intervals in an automated manner – such as £100 per month.
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Begin your crypto journey with Crypto.com! Introducing Crypto.com – your one-stop shop for all things cryptocurrency! Crypto.com is the perfect place to trade and invest in cryptocurrencies like Bitcoin. With more than 150 different currencies supported, reasonable fees, and discounts for investors who hold a considerable stake in Crypto.com Coin (CRO), this exchange has everything you need to get started with cryptocurrencies.
The Crypto.com App is the financial freedom you’ve been waiting for. With everything you need to get started in crypto all in one place, it’s easier than ever to get started on your path to riches! The Crypto.com App makes trading simple and fun! Easily access charts, current prices, and all the info you need to make smart trades and investments! Finally, a comprehensive app that gives you total control over your crypto experience! Access markets, coins, and charts – whatever you need is at your fingertips with Crypto.com!
Crypto.com offers the largest selection of cryptos by market cap, so you can always invest in the latest and greatest. Crypto.com also offers investors access to lesser-known cryptos that have the potential to generate big profits. Crypto.com’s easy-to-use portfolio tracker allows you to instantly see the value of your holdings and even stake CRO to receive a premium metal Crypto.com Visa debit card, as well as a better APR on Crypto Earn and Crypto Credit! With Crypto.com, you’re always in control of your investment portfolio.
Looking to invest in digital currencies but tired of high trading fees? Look no further than Crypto.com. With trading fees as low as 0.40% for new users with a trading volume up to $25,000 a month, you can invest with confidence, knowing that your fees won’t eat into your profits. Crypto.com’s low trading fees make it easy and affordable to invest in Bitcoin, Ethereum, and a host of other digital currencies.
Moreover, Crypto.com’s cutting-edge platform makes trading quick and easy. Plus, with an intuitive mobile app and an advanced secure web exchange, Crypto.com is perfect for investors of all levels. With Crypto.com, you can buy, sell, and trade cryptocurrencies with ease and confidence. So why wait? Sign up today!
Get started trading crypto with Crypto.com today! With volume-based discounts and the ability to pay your fees in CRO, you can save big on your trading fees. Plus, earn 10% p.a. on your CRO stake!
Introducing the Crypto.com Arena, the world’s most technologically advanced sports and entertainment arena! This landmark arena has been renamed in a $700 million deal to see Crypto.com become the new title sponsor of one of the world’s most iconic venues. From now on, this is the place to be for world-class sporting events and awe-inspiring entertainment spectacles. Come and experience cutting-edge technology and forward-thinking innovation at the Crypto.com Arena!
With so many different platforms to choose from, it can be hard to know which one is right for you. But don’t worry, we’ve got you covered! Our list includes some of the best crypto staking platforms around, so you can be sure that you’re getting the most out of your investment. So what are you waiting for? Check out our list today and start earning some extra money!
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Money makes the world go round, and Gemini is here to help you spin it faster. This US-based cryptocurrency exchange has some of the most recognizable founders in the space, and they’re dedicated to making your experience with cryptocurrencies as smooth and fast as possible. So whether you’re a seasoned veteran or just starting out, Gemini has something for everyone.
Gemini has you covered whether you’re a beginner or experienced trader. ActiveTrader breaks speed barriers and provides a world-class experience with advanced charting and various order types. With Gemini, you can buy and sell Bitcoin quickly, securely, and conveniently. So don’t miss out – get started today with Gemini!
Gemini is the Winklevoss twins’ brainchild, a regulated Bitcoin exchange with the highest level of security in the business. So safeguard your Bitcoin with Gemini and know that you’re in good hands.
Gemini is the easiest way to get started in the cryptocurrency world. With no deposit fees for ACH or wire transfer and only a 3.49% fee for debit card deposits, Gemini makes it easy to get your money in and start trading. In addition, Gemini’s intuitive trading platform makes it easy to buy and sell bitcoins as well as other cryptocurrencies. So what are you waiting for? Sign up today!
Note that convenience fees are included in the quoted price of the crypto you are purchasing and are increased by 0.5% for buy orders. The transaction charge is determined by the currency and transaction volume.
Don’t miss out on the next big trade. Gemini ActiveTrader puts all the tools you need at your fingertips, so you can make smart, confident decisions. With advanced charting, market and limit orders, and access to auctions and block trading, Gemini ActiveTrader gives you the power to take control of your trading career.
Looking to get into the cryptocurrency market? Look no further than Gemini! Gemini’s platform is the most reliable and secure place to buy and sell Bitcoin. With insurance coverage and top-notch security measures like support for hardware security keys, Gemini is your best bet for investing in Bitcoin. So why wait? Get started today!
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
With a Kraken account, you’ll get access to the power and security of a Bitcoin exchange with speed, reliability, and respect. Kraken is known for being one of the most reliable exchanges in the world, so you can be sure your transactions will be executed quickly and securely. So sign up today to get started on your Bitcoin journey!
Kraken is the leading Bitcoin exchange in terms of security and features. With two-factor authentication and email confirmations for withdrawals, you can be sure your cryptocurrencies are safe with Kraken. Plus, margin and futures trading makes it easy to get started in the exciting world of cryptocurrency.
The Kraken platform is built for simplicity. The exchange’s state-of-the art operation provides loyal customers the smoothest buying and selling exchange experiences, with proprietary features designed to effectively manage security, risk, effort, and user experience.
Kraken offers the world’s most secure and reliable cold storage solution for digital assets. Kraken is the safest and most trusted way to store your Bitcoin and Ethereum. With 95% of all deposits kept in offline, air-gapped cold storage, Kraken gives you peace of mind that your funds are safe and secure. Notably, Kraken’s cutting-edge security protocols protect your funds from unauthorized access, while full reserves ensure that you can always withdraw instantly upon request.
Do you want to trade crypto but find the fees too high? Meet Kraken! Instant purchases cost 1.5% for the majority of coins and 0.9% for stablecoins utilizing USD or another stablecoin. So whether you are looking to invest in Bitcoin, Ethereum, or another coin, Kraken has you covered.
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. However, with a user-friendly interface and excellent customer support, Kraken is one of the best exchanges around.
Kraken Pro is the perfect solution for traders looking for a cost-effective way to get started in the markets. With lower pricing and no need for an additional account, Kraken Pro makes it easy to get started.
Kraken’s Pro platform is an excellent way for you to take advantage of opportunities in the market without having to worry about missing out on potential gains. For those who have been trading for longer, Kraken Pro will allow you to lower your risk and maximize profits so that you’ll sleep better at night.
Kraken is the perfect platform for anyone with a passion for cryptocurrency futures trading. With its user-friendly interface and wide range of features, Kraken makes it easy to get started. So why wait? Sign up today and start trading like a pro!
Whether you’re a seasoned crypto trader or just starting out, our list of the best crypto apps will help you take your trading to the next level. With these apps, you can stay on top of all the latest news and trends in the crypto world, make informed investment decisions, and more. So what are you waiting for? Start exploring today!
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Are you looking for a fast, easy, and secure way to buy Bitcoin? Look no further than Coinmama! Coinmama’s platform makes it easy for you to get started in the exciting world of cryptocurrency trading, with competitive commission rates and a simple, user-friendly interface. So buy your first Bitcoin today and start experiencing the benefits of digital currency!
Coinmama offers competitive rates based on the market rate of TradeBlock’s XBX Index along with 2%, plus a commission fee of up to 3.81% when buying cryptocurrencies and up to 0.9% to sell bitcoin. So whether you’re buying or selling bitcoin, Coinmama has you covered.
Introducing the Coinmama Loyalty Program – because you’re worth it. The more you trade with Coinmama, the more you save on commission fees. Coinmama has three levels of savings to ensure that you always get the best price when buying or selling digital currencies. So sign up today and start trading like a pro!
Customers who spend $5,000 over 90 days receive a 12.5% discount on their sales fee. While customers who spend $18,000 over 90 days or make a lifetime purchase of $50,000 or more receive a 25% discount on their sales fee.
Notably, costs for members of the most prominent reward program are cut to 2.86%. Furthermore, depending on the method of payment, additional fees may apply. For instance, Coinmama will automatically apply a 5% surcharge to purchases made using a credit card, debit card, or Apple Pay.
Looking for a trusted and convenient way to buy Bitcoin in the UK? Coinmama is here to help! Coinmama’s easy-to-use platform makes it simple for you to invest in your favorite coins. With exchange rates displayed in your local currency, choosing the best alternative is simple. So why wait? Get started today!
Coinmama understands that buying Bitcoin can be a complicated process. That’s why Coinmama’s simple verification process makes it easy to get started in minutes. Plus, Coinmama’s non-custodial platform means that your coins are always in your control – never worry about losing them again. So if you’re looking for a safe and easy way to buy Bitcoin, look no further than Coinmama!
Looking for a safe and secure way to store your Bitcoin? Check out the best Bitcoin wallets in the UK. These sleek and user-friendly options offer security and peace of mind, making them perfect for anyone looking to invest in this exciting cryptocurrency. With a range of options to choose from, you’re sure to find the perfect Bitcoin wallet for your needs. So why wait? Start exploring today!
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Looking to get into the cryptocurrency market? Look no further than Bitstamp. Founded in 2011, Bitstamp has long been a trusted source for buying and selling Bitcoin. With competitive rates and an easy-to-use interface, it’s perfect for beginner and experienced investors. So what are you waiting for? Get started today!
Bitstamp charges a fixed fee for cryptocurrency trades based on the volume of your 30-day trading. There are a total of 17 tiers, with 0.50% being the highest. Your fees will reduce as you advance through the levels. With Bitstamp, you get unbeatable prices and lightning-fast transactions.
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.
Get started with Bitcoin at Bitstamp – the best exchange to buy, sell, and trade this exciting cryptocurrency. With Bitstamp’s easy-to-use interface and secure transactions, you can get up and running in minutes.
Looking for a fast and easy way to invest in crypto? The Bitstamp mobile app has you covered! With Bitstamp’s simple interface, you can trade Bitcoin and Ethereum on the go. So whether you’re out and about or relaxing at home, the Bitstamp app provides a secure and convenient way to manage your investments. So don’t miss out – download Bitstamp today!
Looking to get into the crypto market but feeling overwhelmed by all the different options? Relax, we’ve got you covered. Check our list of the best crypto signals out there – these services will help you make profitable trading decisions in no time!
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
If you’re a complete novice in the world of digital currencies – then the above quickfire guide on how to invest in Bitcoin might not be sufficient enough for you. Instead, you might require a more detailed and explained walkthrough. If so, below you will find a comprehensive step-by-step guide on how to invest in Bitcoin UK – with no stone left unturned.
As we noted in our cryptocurrency platform reviews, eToro is the number one broker to invest in Bitcoin in the UK. To recap – the broker is FCA-regulated, offers low fees, and is super-easy to use. As such, this walkthrough will guide you through the Bitcoin investment process with eToro. The first thing is to visit the eToro website and open an account.
Look out for the ‘Join Now’ button and click it. In doing so, a registration form will appear asking you to enter your name, email address, and mobile number. You also need to select a username a strong password – which will act as your login credentials once the account is open.
On the next page, you will then be asked for additional personal information. This includes your home address, national insurance number, and date of birth.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Now that you have opened an investment account with eToro – you can proceed to purchase Bitcoin. However, you will be required to upload a copy of your passport or driver’s license before you can:
As such, we would suggest completing the Know-Your-Customer (KYC) process now so that you can remove all account limitations.
You will need to deposit some money into your eToro account before you can invest in Bitcoin. The broker supports a wide range of payment methods, which you will find listed below:
As we briefly noted earlier, the minimum deposit at eToro is $200 and you will pay a very small transaction fee of 0.5%.
You should now have money in your eToro account – meaning that you can proceed to invest in Bitcoin! To go straight to the relevant investment page, enter ‘Bitcoin’ into the search bar at the top of the page.
Click on the result that appears at the top – like in the highlighted example above. Then, on the next page, click the ‘Trade’ button.
You should now see an order box populate on-screen. This is where you need to tell eToro how much you wish to invest in Bitcoin. The minimum investment is just $25 – meaning that you can purchase just a very small fraction of 1 BTC token.
To complete your UK Bitcoin investment – click on the ‘Open Trade’ button. In doing so, eToro will execute your investment order instantly at the next best available price. The digital tokens will remain in your eToro portfolio until you decide to sell!
If you’re here reading our guide on how to invest in Bitcoin in the UK – you are likely doing so because you want to make money. In order to do that, you will need to sell Bitcoin at a higher price than you originally paid. If you’re wondering how to sell Bitcoin in the UK – the process can be very straightforward – but this depends on how you made the purchase.
For example, if you followed our step-by-step walkthrough by investing in Bitcoin at eToro – then you sell your BTC tokens in a matter of seconds. All you need to do is visit your eToro portfolio, look out for BTC, and then click the ‘Sell’ button. eToro will then instantly convert your Bitcoin investment back to cash – which you can withdraw to your bank account or debit/credit card.
There are many ways to invest in Bitcoin in the UK – some better than others. For example, you might find that Bitcoin ATMs are good for investing with cold-hard cash – but the fees will be astronomical.
You then have low-cost cryptocurrency exchanges, but these are typically unregulated. As such, it’s best to consider the pros and cons of each Bitcoin investment provider before taking the financial plunge.
Make no mistake about it – using a regulated online broker to invest in Bitcoin UK is by far the best option.
By using an FCA-regulated broker like eToro, you will also be able to use your UK debit/credit card or bank account to pay for your Bitcoin investment.
You then have cryptocurrency exchanges – which typically operate in a borderless manner. This means that they accept clients from all over the world – often without requiring any personal information or KYC documents. Exchanges can do this if the client is not paying for their Bitcoin investment with ‘real’ money via a debit/credit card or bank account.
Naturally, by allowing anonymous investments, cryptocurrency exchanges will usually operate without a regulatory license. This means that as a UK investor – you are putting your capital at risk. This is in addition to the risk of investing in a speculative asset class like Bitcoin. Perhaps the main draw with cryptocurrency exchanges is that you will have access to hundreds of digital tokens at rock-bottom commissions.
There are just over 200+ Bitcoin ATMs in the UK – most of which are found in London. If you have a Bitcoin ATM close by – the process works as follows:
The main issue with using a cryptocurrency ATM to invest in Bitcoin in the UK is that the fees are ridiculously high. Many providers charge in excess of 10-15% of the transaction value – which means you are overpaying by a considerable amount. After all, when using eToro to invest in Bitcoin UK – you only need to cover the spread of 0.75%!
You might also come across a number of peer-to-peer exchanges in the online space. These platforms allow you to buy and sell Bitcoin directly with other users – subsequently cutting out the need for a middleman. The main issue here is that peer-to-peer exchanges are known to attract scammers. This means that you might end up transferring your money to a seller that never supplies you with any Bitcoin.
Although most people in the UK will invest in Bitcoin directly – it’s also possible to gain exposure to the digital currency arena via traditional stocks. Several options exist in this respect, but Coinbase is arguably the best. This is because popular Bitcoin broker Coinbase – which we reviewed earlier, recently went public.
You will find the stocks listed on the US-based Nasdaq exchange. In theory, the value of Coinbase will be correlated to the wider sentiment of the cryptocurrency market. For example, if digital tokens like Bitcoin are performing really well – then you might find that the value of Coinbase stocks follows suit.
If you want to invest in Bitcoin-related stocks – you can do this at eToro on a 0% commission basis – irrespective of which exchange the shares are listed.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Bitcoin is certainly one of the most exciting asset classes available in the investment scene. After all, this innovative cryptocurrency has generated unprecedented returns since it was launched in 2009. But, equally, Bitocin is also a highly speculative asset – meaning that many people invest because of a ‘fear of missing out’.
This is largely the reason behind the digital token’s rise to fame in recent years – so you do need to consider the added risks that this brings. In the sections below, we discuss some of the main reasons why you might decide to invest in Bitcoin in the UK – but, of course, you should also perform your own research before proceeding.
As of October 19th 2021, the first Bitcoin Futures ETF launches today – setting a new milestone for the cryptocurrency industry. This catalyst towards mainstream acceptance now gathers global attention as Bitcoin Price began to break towards and above $63,000 once more.
BTC price broke above $68,000 as of November 9th 2021 and still struggles towards the $70,000 mark as it fights the resistance level. Bitcoin’s current price is $66,826.
Let’s start by having a look at how Bitcoin has performed since it was launched in 2009. In its first few years of trading, Bitcoin was virtually unheard of and this was reflected in its price. In fact, those who invested in Bitcoin early would have paid less than a few pence per token. Fast forward to December 2017 and the digital currency breached a price of $20,000.
Bitcoin then went on a prolonged downward spiral – the digital asset has since gone on a bullish run since hitting lows of $5,000-ish in early 2020. In fact, Bitcoin hit a new all-time high of just under $65,000 in May 2021. This means that in just over 1-year of trading, Bitcoin investors saw returns of over 1,200%. That’s a profit of £6,000 for every £500 invested.
Leading on from the section above – where we noted that Bitcoin hit all-time highs of $65,000 in May 2021 – the price of the digital token has since cooled off. This isn’t just the case with Bitcoin – but the wider cryptocurrency marketplace.
Furthermore, if Bitcoin is able to regain its previous high of $65,000 – this would represent an upside of over 62%.
Many in the UK that are considering a Bitcoin investment are under the impression that you need to purchase a full BTC token. At its peak of $65,000 – this would amount to a total investment of approximately £46,000 at current exchange rates. Fortunately, you don’t need to invest such sizable amounts into Bitcoin – as the digital currency can be ‘fractioned’ into tiny units.
This means that you can invest small and steady amounts to mitigate your long-term risk. At eToro, for example, the minimum investment per trade is just $25. As such, an account balance of $250 would allow you to dollar-cost average your investments at $25 per week, fortnight, or month. In taking such a strategy, you will invest in Bitcoin at a different entry price on each subsequent investment.
For example, you might invest $25 in week one at $40,000 and then $25 in week two at $35,000. In week three, you might pay a cost price of $50,000. Either way, your total entry cost is constantly averaging out – meaning that you are not overreliant on a single price.
Many commentators in the cryptocurrency industry will argue firmly that Bitcoin is not too dissimilar to a store of value like gold.
Instead, Bitcoin is stored in digital wallets and selling can be completed in a matter of seconds.
In the sections above, we covered the most notable benefits of investing in a digital currency like Bitcoin. However, we now need to discuss the main risks involved so that you only enter the Bitcoin investment market with your eyes wide open.
Ultimately, the best thing you can do is perform lots of independent research before proceeding with an investment. If you do make an informed decision to invest in Bitcoin in the UK – then make sure you keep your stakes modest and never risk more than you can afford to lose.
There are a number of costs involved in the UK Bitcoin investment process – which we briefly explain below.
Just make sure you check your chosen provider’s fee table before opening an account.
This guide on how to invest in Bitcoin UK has covered the fundamental steps involved. To recap – you first need to choose a suitable broker that supports your preferred payment type. Once you have made a deposit, it’s then just a case of deciding how much you wish to invest in Bitcoin. Once the investment has been processed – you then need to think about storage.
The easiest, safest, and most cost-effective way to invest in Bitcoin in the UK is to use an FCA-regulated broker like eToro. You can instantly deposit funds with your debit/credit card at an industry-leading fee of just 0.5%. Then, you can invest in BTC tokens at a minimum of $25 and at a spread of just 0.75%.