Buy Bitcoin in the UK? The Ultimate Guide

Bitcoin is the biggest revolution in global finance in a generation, so many people want to know how to buy a Bitcoin. If you want Bitcoin, you’ve come to the right place.

5 Quick Steps to Buy Bitcoinbitcoin etoro

  • Create a new Etoro account – it only takes 3 minutes!
  • Make a £200 minimum deposit – Paypal is accepted
  • Buy your Bitcoins
  • Set Stop Loss and Take Profit Levels
  • Withdraw Profits

Bitcoin is a revolutionary digital currency, used both as a means of exchange and a store of value. But if you’re reading this, you want to know the price of Bitcoin and how to buy Bitcoin. If you want to know more about how to buy Bitcoin instantly, check out our complete guide to Bitcoin, or check out the second half of this Bitcoin guide.  If you’re ready to buy Bitcoin now, let’s dive right in.

Three ways to Buy Bitcoin: via CFD or Exchanges

There are dozens of places online to buy a Bitcoin, but these are grouped under two main Buy Bitcoin methods: CFD and Traditional Ownership. We’ll first explain why you might buy a Bitcoin via both methods.

How to Buy Bitcoin on Etoro

CFD stands for “Contract For Difference”. When you buy a CFD, you are buying the right to profit from an asset like Bitcoin. If the price goes up and you sell your CFD, you’ll profit just as you would if you had bought Bitcoin and resold it. The difference is that with CFD, you don’t own the underlying Bitcoin. This might sound strange at first, but it’s actually a better method for many kinds of customers. Here are some of the advantages.

How To Buy Bitcoin - Guide

  • Leverage. When you buy a Bitcoin CFD with Etoro, you can “leverage” your purchase, meaning that you can get more Bitcoin value than you could afford if you were buying it from a centralized exchange. Bitcoin value is expensive, and this high Bitcoin price keeps out new, small investors who would only be able to afford a tiny bit of Bitcoin. With leverage, they can profit as if they had a lot of Bitcoin, using Stop Loss tools to prevent big losses. Simply put, CFD gives you access to a lot of Bitcoin, with just a little money
  • Regulation. Large cryptocurrency exchanges are not regulated. Many of them are not based in the country where you live. Cryptocurrency exchanges can and do get hacked, and cryptocurrencies like Bitcoin which customers store on them are stolen. This has happened to Mt. Gox, Bittrex, and others. With CFD, you don’t own any actual Bitcoin, even though you can take profits just like you would if you did. CFD providers like Etoro are fully regulated, so you won’t risk losing your money, getting scammed, or being hacked. 
  • CFDs are Easy! It’s hard to learn how to use exchanges, set up digital wallets, and avoid getting scammed. If you want to have all of the rewards of Bitcoin investment, without the chance of making a mistake and losing your funds, CFDs are the way to do it. CFDs are Bitcoin trading made as simple as possible. You can start an Etoro account in just a couple of minutes, then learn how to buy a Bitcoin on Etoro in another minute or two. If you think buying Bitcoin is hard, and that’s keeping you away, let CFDs solve your problems. 
  • eToro Broker Review

    • FCA Regulated
    • Copy Crypto Traders
    • 83% CryptoFund Return
    Accepts Paypal
    Visit Now

    CFDs essentially allow you to buy Bitcoin instantly, since there’s no wait for transfer. Now let’s show you how to buy Bitcoin CFDs with Etoro. Start by going to Etoro.com and creating an account. Click “Join Now” as seen on the green button below. Select your country using the list on the next screen. Note: American and Canadian users are not accepted at Etoro.

    Buy Bitcoin on eToro 1

    After you’ve input your new username and password on the next screen, you’ll be given provisional access to the Etoro platform. But you can’t buy Bitcoin CFDs yet. First, you have to “Complete Profile”, which is a blue button you’ll see in the upper left-hand corner. Click it and you’ll see a series of pages like this which will ask for more personal information, financial account numbers, and government identity documentation like your passport. Input all of these, then complete a deposit, using wire transfer from your bank, Paypal, Skrill, Debit & Credit card, and several other options.

    Buy Bitcoin on eToro 2

    Once your account is funded, head over to the “Trade Bitcoin” menu as pictured below.

    Buy Bitcoin on eToro 3

    Click “Open Trade”. Now you’ll be able to buy your Bitcoin CFD using the money you funded your Etoro account with. The value of your CFD will be worth as much as the same amount of Bitcoin would be if you had purchased it on a traditional exchange. You can hold your Bitcoin CFD on Etoro as long as you want. In order to make money this way, there are 2 techniques you should understand:

    • Stop-Loss. Stop-Loss is the Bitcoin price at which you would sell your Bitcoin CFD, in the event of a crash. There’s always the outside chance that the Bitcoin price could go to zero. Maybe it could even happen while you’re sleeping! To prevent large losses, you can set a Stop-Loss value, and your CFD will be sold during a crash, no matter if you’re online or not.
    • Take Profit. The Take Profit value is much like the Stop-Loss value, except it is a price you set for when the price of Bitcoin is going up. This is the price at which you’d want to take your profits and walk away. But if you’re not online when the Bitcoin value spikes, this setting can make the sale for you.

    That’s pretty much it! Once you’ve finally sold your Bitcoin CFD, you can send your earnings back to your bank and enjoy your new, richer life. Now let’s show you how to buy Bitcoin using a traditional exchange.

    How to Buy Bitcoin Through Exchange: Luno.com

    Luno.com is possibly the best alternative to Coinbase for the simple purchase of Bitcoin and Ethereum with fiat currency. Though not available as an exchange in the United States (American users can still use the Luno wallet), Luno.com is available in Europe, Nigeria, Malaysia, Indonesia, and South Africa. As such, it’s a remarkable service in places sometimes not known for Bitcoin access. More resources and details can be found on Luno.com

    1. The site could not be easier to use. You can set up your account in less time than it takes to start a new Facebook account.

    Luno Exchange Sign Up

    2. Once your wallet is created then simply make a local currency deposit using bank transfer or debit/credit card, go to Buy Bitcoin.Luno Exchange Bitcoin Buy

    Luno is easy to navigate and a useful resource to learn more about digital currencies. You can easily access your wallets, create unique Bitcoin addresses, monitor transactions and more via your menu.

    Luno Nav Menu

    Buying Bitcoin on Luno is about as easy as it could possibly be. You simply make a deposit via bank transfer or by debit/credit card deposit. Once you’ve made a deposit via one of these payment methods, click the “Buy” button and follow the easy steps.

    Buying Bitcoin on Luno

    You’ll be taken to a screen like this. Luno has a great mobile app, which makes it easy to buy and sell Bitcoin anywhere you are. Simply fill in the amount of Bitcoin you wish to buy, observe the final price, then confirm the order. Your Bitcoin will appear in your Luno Bitcoin wallet.

    Buy Bitcoin on Luno

    VISIT LUNO

    How to Buy Bitcoin Through Exchange: Coinbase

    There are various platforms that act as intermediaries in the purchase of Bitcoin online. Before you buy Bitcoin directly you must own a wallet, which will involve getting a Bitcoin address.

    Getting a wallet means deciding on a provider to use and then either downloading a wallet or using a web browser version. Most exchanges offer you the opportunity to use their wallet or you can normally get a wallet via the cryptocurrency directly. To have more information about choosing a wallet, I suggest you check our guide on the best wallets on the market.

    The easiest way to buy Bitcoin through Bitcoin is actually to use Coinbase. Coinbase is one of the few exchanges where users can trade “fiat currency” (US Dollars, British Pounds Sterling, Euros, etc.) for cryptocurrencies like Bitcoin. It’s incredibly easy to set up, so we’ll quickly show you how it works now.

    First, let’s go to Coinbase.com and create an account.

    Buy Bitcoin on Coinbase 1

    Click on “Sign Up” in the upper right-hand corner. This will take you to the screen below.

    Buy Bitcoin on Coinbase 3

    Input your name, address, new password, state (or other nation-specific information), and check the user agreement box. Then do the CAPTCHA to prove that you’re not a robot. When you submit, Coinbase will send you a confirmation email. Go to it and click the link therein. This will lead you to the following screen.

    Buy Bitcoin on Coinbase 4

    Input all the necessary information on the coming screens. The layout you see will depend on where in the world you are accessing Coinbase from. Once Coinbase has verified your identity, you’ll be able to upload documents and input information which will help Coinbase further establish your identity, which will allow you to move more money in and out of Coinbase. You don’t have to do all of this, just what you need to buy Bitcoin value in the amount you desire.

    buy bitcoin on Coinbase 5

    Now let’s buy some Bitcoin. Go to the Coinbase homepage which will look like what you see below.

    How to buy bitcoin 7

    This chart shows you the recent Bitcoin price action, from February 11 to March 11. Above this, you’ll see a “Buy/Sell” button. Click this. If Coinbase asks you to upload an image of your ID, do so. If not, and they allow you to buy right away, this is the page you’ll see.

    how to buy bitcoin 8

    On this page, you can easily buy Bitcoin. First, make sure “Bitcoin” is selected from the options above (not Ethereum, Litecoin, or Bitcoin Cash). Then type in how much money you want to spend to buy Bitcoin. The Bitcoin price equivalent will be displayed in the text bar to the right of what you just typed. On the right of the screen, you’ll see the associated fee and your final total. When you’re ready, click “Buy Bitcoin”.

    Unless you first funded your Coinbase wallet with cash from your bank, the wire transfer to buy Bitcoin will take about a week to complete. Be patient. Once it comes through you will know how to buy a Bitcoin and you’ll be able to have incredible potential for investment returns as the Bitcoin price evolves.

    Visit Coinbase [/su_note]

    Bitcoin Payment Methods

    Above we have highlighted Coinbase and Etoro and how you can buy bitcoin using these providers. There are advantages to using both, this obviously depends on what the user is looking for, but the best thing they do have in common, is the payment methods they offer. You can buy bitcoin very quickly using either credit/debit card, bank transfer or Paypal, essentially the most popular payment methods. Although paypal is currently only available to US citizens, more on that can be found below.

    The methods we have highlighted are the best ways to pay when converting your fiat currency into cryptocurrency, you can also buy bitcoin using other cryptocurrencies but you need to already own another cryptocurrency, which would have seen you go through this process. This is step one for the beginners out there.

    Below are the most widely used payment methods when it comes to buying anything and cryptocurrencies are no different. However, there are small nuances that you should be aware of each method as highlighted below;

    Buying bitcoin with US Dollars is now a relatively simple process with most exchanges allowing you the ability to do so, in the guide below we highlight the best places to buy bitcoin when using USD.

    Each payment method will have different price structures but the price of bitcoin should have no effect on those costs. The bitcoin price can affect other exchange costs so do make sure you are keeping an eye on both the exchange fees and the price of bitcoin.

    Bitcoin Price Explained

    Nobody knows exactly what the future of Bitcoin value will be. However, many people think that because Bitcoin can’t really be controlled (at least not yet), that it will continue to become more popular around the world. Economic instability, economic crashes, governmental strife – all of these factors can and will motivate people to adopt digital currencies that aren’t run by centralized governments. The first and the biggest, Bitcoin may be the go-to cryptocurrency for years to come.

    If Bitcoin does continue to grow and thrive, it isn’t unthinkable that the price of Bitcoin could one day hit $100,000, $1,000,000, or more! Currently, well less than 1% of people in the world have cryptocurrency of any type. In a future where Bitcoin is a truly global currency, the Bitcoin price will be much, much higher than it is today.

    People who buy Bitcoin today do so because they understand these factors. They understand that the Bitcoin price may seem high today, but that this Bitcoin price is based on incredible realities that are changing global finance as we know it. People around the world are adopting Bitcoin for many reasons: to make anonymous payments, to store value like gold, to achieve massive investment returns, and to simply use as money.

    No one knows the future, but it’s unlikely that Bitcoin value is going to fail anytime soon. This means that investors who get in now will own a piece of history, and will have “gotten in early” because even though Bitcoin is on everybody’s lips, it’s not in many of their wallets. We can’t tell you what to do, but we obviously think that Bitcoin is a compelling investment at any Bitcoin price.

    If you’d like to know more about Bitcoin, check out the following Bitcoin FAQ where we’ll cover questions from around the web.

    Bitcoin FAQ

    What's the Difference Between Bitcoin and Bitcoin Cash?
    Where Should I Store My Bitcoin?
    How to Buy a Bitcoin in My Country?
    Is It Hard to Buy Bitcoin UK?
    Is It Safe for a Beginner to Get Into Bitcoin Investing?
    Will the Bitcoin Value Grow?
    How Can I Buy Bitcoin Instantly?
    What Are the Tax Implications of Buying a Bitcoin?

    Bitcoin Resources – Quick Links

    Final Thoughts on Bitcoin

    By now you know how to buy Bitcoin, thoughts on the price of Bitcoin, ideas about investing in bitcoin, and where Bitcoin value comes from. No one can say how the price of Bitcoin will change day to day, but because the value of Bitcoin is based on reliable technology and widespread adoption in the world, investing in Bitcoin is likely a very good idea.

    Those who invest in Bitcoin today will have a wild ride ahead of them as the technology spreads, regulations are put in place, and other cryptocurrencies rise alongside Bitcoin. Buying Bitcoin is just the first step. We hope that the price of Bitcoin you buy today looks like a very cheap Bitcoin price in the months and years to come.

    Summary
    Buy Bitcoin in the UK? The Ultimate Guide
    Article Name
    Buy Bitcoin in the UK? The Ultimate Guide
    Description
    There are dozens of places online to buy a Bitcoin, but these are grouped under two main Buy Bitcoin methods: CFD and Traditional Ownership. We’ll first explain why you might buy a Bitcoin via both methods
    Author
    Publisher Name
    Coinlist.me
    Publisher Logo

    Leave a Reply

    6 Comments on "Buy Bitcoin in the UK? The Ultimate Guide"

    avatar
      Subscribe  
    newest oldest most voted
    Notify of
    Joel
    Guest

    if there’s no physical coin, what are bitcoin atms? and do they mean I can buy not online?

    John
    Guest

    You want to have Bitcoin for free? just install this tab on Chrome! Is for free as more people you put under you more fast you will have your Bitcoin!
    getcryptotab com

    Jay L
    Guest

    Anyone know which option’s best? I’m don’t want to get it wrong and see my money sail off into the sun…

    Coinlist
    Editor

    The method you choose will depend on your intention. Do you want to trade Bitcoin from a distance or own some currency of your own? If you prefer to stand back, use a broker like eToro. If you want to own Bitcoin, use an exchange. Hope that helps.

    Bren_dan
    Guest

    I’ve been buying BTC since 2015 so it’s great to see CFD brokers coming into the mix and bringing more payment options with them. It’s an alternative I need to use more but it’s certainly interesting.

    Fear of Missing Out?
    To keep up to date with news, offers and tips, please let us know that you would like to receive email updates from us by entering your email address and clicking to subscribe. How do we use you information?

    SUBSCRIBE 
    close-link
    close-link