Buy Bitcoin

The best ways to buy bitcoin in the UK, instantly.

The first thing you need to know in order to invest is how to buy bitcoin online. This guide explains everything.

How to buy bitcoin in 2018.


How to buy bitcoin

Buying bitcoin can seem like a complicated process, but it isn’t difficult once you know the different options available and the steps involved. That’s why we’ve not only reviewed and compared the platforms on which you can buy bitcoin, but also created a plain-speaking guide to take you through the whole process and simplify all the jargon.

If you already know what to do, check out our links to the most trusted platforms below to get started. If you’re new to bitcoin, scroll down and we’ll explain all your options before taking you step-by-step through the buying process.

Here is a list of services to buy bitcoin instantly

  • eToro
  • 24Option
  • Coinbase
  • Binance

Where can I buy and store my bitcoins?

In order to buy bitcoin you need to use a ‘brokerage’ or an ‘exchange’. Most of these services allow you to purchase coins with fiat currency (e.g. GBP or USD). If you want to trade bitcoin and therefore be able to capitalise on short-term price fluctuations, then you can use a CFD platform. These sorts of services enable you to make quick gains/losses without having to go through the laborious process of owning and managing the coins yourself.

In terms of storage, most platforms offer the ability to hold your coins through their platform – much like a sports betting site allows you to hold money in your account. In addition to this you can also get a personal ‘wallet’ in which to store your coins. This functions much like a bank account and is fully explained below.

What’s the difference between brokerages, exchanges, CFD platforms, and wallets?

Choosing whether to use a brokerage, an exchange, or a CFD platform to buy bitcoin depends on what your intentions are.

Brokerage

A bitcoin brokerage is a company that acts as a middleman for you to buy or sell bitcoin at a fixed price. Just like a bureau de change at an airport allows you to change pounds into other currencies.

Exchange

An exchange is a marketplace for buyers and sellers. Exchanges connect people looking to buy and sell bitcoin, enabling peer-to-peer transactions between them. Like eBay for cryptocurrency.

CFD platform

A Contract For Difference (CFD) platform allows you to buy and sell bitcoin without actually owning the coins themselves. This is what traders do on a daily basis (on Wall Street, for example). Similarly to exchanges, CFD platforms enable you to buy and sell quickly, taking advantage of price changes to make a profit. These platforms are not designed for long-term investments, but to give a fast way to capitalise daily.

Wallet

A bitcoin wallet is essentially a crypto bank account: it is an address that stores your bitcoin and allows you to send or receive bitcoin to/from other wallets. Every wallet comes with two separate strings of numbers and letters known as ‘keys’: a public key (used to receive bitcoin) and a private key (used to send bitcoin to other wallets).

If you want to buy coins to store as a long term investment and aren’t very interested in constantly tracking the market to buy and sell for quick profit, a brokerage is your best option.

Alternatively, if you want to buy bitcoin at a competitive rate and capitalise on fluctuations in price, then you’ll want to sign up to an exchange or CFD platform. The key difference between these two types of service is that on an exchange you buy and store the coins yourself, whereas with a CFD platform you trade bitcoins without the hassle of actually owning them.

Should I buy bitcoin?

It depends on what you want to get out of your investment. Before you proceed to buy any bitcoins, we believe it’s essential to understand what Bitcoin is and its potential as an investment. We want to help people make more informed choices with cryptocurrency, so you can use the information provided on this page and across CryptoSupermarket to learn everything you need to know.

What are my options?

There are various options you can use to buy bitcoins. Ultimately, it depends on what payment method is convenient for you and how you want to store your coins once you’ve bought them. Here’s a run-down of the ways to pay for and store bitcoin:

Should I buy bitcoin?


Advantages

  • Bitcoin is the world's most famous cryptocurrency
  • You usually have to use bitcoin to buy other cryptocurrencies
  • Cryptocurrency is protected from the inflation of fiat currency
  • Cryptocurrency could be the future of all financial transactions
  • You can use bitcoin to shop anonymously

Drawbacks

  • The price of bitcoin can fluctuate considerably in a short space of time
  • There is no guaranteed value of bitcoin against fiat currency

Ready to get started? Here's where to buy bitcoin.


1
£2
BTC
ETH
LTC
BCH
  • Easy to buy and sell
  • Takes few minutes to start
  • Insurance protected
2
£200
BTC
ETH
LTC
XRP
EOS
DASH
NEO
IOTA
XMR
XEM
BCH
ADA
QTUM
ETC
XLM
MIOTA
BTG
ALL
CRYPTO
TRX
  • More than 100 cryptocurrencies supported
  • Easy to buy and sell
  • Over the counter service available
3
£100
BTC
ETH
LTC
XRP
DASH
BCH
CRYPTO
  • Award winning CFD platform
  • 5 million registered accounts
  • Zero commission
4
-
BTC
ETH
LTC
XRP
EOS
DASH
NEO
IOTA
XMR
XEM
BCH
ADA
QTUM
ETC
XLM
KMD
MIOTA
BTG
TRX
  • Available on multiple devices
  • World known service
  • Trade multiple cryptocurrencies
5
£200
BTC
ETH
LTC
XRP
EOS
NEO
ADA
CRYPTO
  • World's leading platform
  • Trade and invest
  • Millions of users
6
£60
BTC
ETH
LTC
XRP
BCH
ADA
QTUM
ETC
  • Global coverage
  • Buy with credit card
  • Safe and secure trading
7
£1
BTC
ETH
LTC
XRP
EOS
BCH
ADA
CRYPTO
TRX
  • Up to 100x leverage
  • High security
  • Various contract types
8
-
BTC
ETH
LTC
XRP
  • Multiple payment methods
  • Quick sell and quick buy
  • Trade cryptocurrency in 248 countries
9
-
BTC
ETH
LTC
XRP
DASH
BCH
KMD
MIOTA
CRYPTO
  • Easy and convenient
  • Many different cryptocurrencies
  • Can both buy and sell coins
10
£70
BTC
CRYPTO
  • Most popular payment options
  • Servicing 99% of countries
  • Negative balance protection
11
£0.5
BTC
ETH
LTC
XRP
XEM
BCH
QTUM
ETC
KMD
BTG
TRX
  • Simple and friendly
  • Accept credit cards
  • Fair, fast and trusty
12
-
BTC
ETH
LTC
XRP
  • Integrated with debit card
  • Multiple crypto and fiat currencies
  • Easily manageable account
13
£100
BTC
ETH
LTC
XRP
EOS
DASH
  • Competitive swap rates
  • 20:1 leverage on crypto trading
  • World-class 24/5 customer service
14
£2
BTC
ETH
DASH
XEM
  • Can buy and sell a range of cryptos
  • Easy to use interface
  • Good security features
15
-
BTC
  • Convert bitcoin to fiat currencies
  • Many fund withdrawal methods
  • Offering a virtual or plastic card
16
£1
BTC
  • Instantly buy bitcoin
  • Load a prepaid card with funds
  • Store bitcoin in a secure wallet
17
£250
BTC
ETH
LTC
XRP
  • Tax free trading
  • 0% commissions
  • Improved liquidity
18
£250
BTC
ETH
LTC
XRP
DASH
XMR
BCH
ETC
BTG
  • Trade in GBP, USD, and EUR
  • Number of coins available
  • Trade with leverage of up to 1:5

Frequent questions.


Can I buy bitcoin using my PayPal account?

Yes, bitcoin can be bought using PayPal - but not everywhere. Some exchanges don’t support PayPal because it has previously been used to carry out chargeback scams. If you are using an exchange that accepts PayPal and want to use your account to buy bitcoin, great! See our page about buying bitcoin with PayPal for all the steps.

Can I buy bitcoin using my credit card?

You can use your credit card to buy bitcoin from certain platforms, but there are a few services that don't allow it. Some platforms are not comfortable with the risk of chargebacks with credit card payments. Before buying bitcoin with your credit card, check with both your bank and chosen platform that they allow you to do so – and head to our page on buying bitcoin with credit card to find out more.

Can I buy bitcoin using my debit card?

Yes, debit card is one of the easiest and most common ways of buying bitcoin. The charges are debited from your balance, reducing the risk of running into debt. This is why debit card payments are accepted much more widely than credit cards. To learn more about buying bitcoin with debit card, including the best platform to use and the fees involved, see our guide to buying bitcoin with debit card.

Can I buy bitcoin using bank wire?

Yes, bank transfer can be used to buy bitcoin on most platforms. However, the process might take longer, sometimes running up to 5 days. An advantage of buying bitcoin with a bank transfer is that you can purchase much more at once. Many platforms limit credit or debit card purchases to around £150 a day, whereas you can buy £1000s worth of bitcoin with a single bank transfer. Head to our page on buying bitcoin with bank wire transfer for more information.

Are there any other methods?

Yes, there are other methods you can use to purchase bitcoins. You can pay people, such as friends, directly in exchange for them sending you bitcoin - provided they have your bitcoin wallet address. On certain exchanges, you can also use other cryptocurrencies such as ethereum to buy bitcoin – and vice versa.

Will this actually work?

As long as you’re using a reliable platform then yes, it will work. We work hard to find the best services out there, and our guides will take you through each payment method in detail to help you buy bitcoin securely. If for any reason you do encounter a problem along the way, contact us and we will help in any way we can.

Can I buy anonymously with no ID?

It’s possible, but very uncommon, to purchase bitcoins without providing ID or proof of address. Most platforms require their users to provide ID to reduce the risk of fraud. However, there are a few services, such as person-to-person (P2P) exchanges such as LocalBitcoins, which allow you to interact with sellers and purchase bitcoins without necessarily having to have your ID verified.

Why are there no easier methods of buying bitcoin?

Buying bitcoin is easier than it used to be, but it still isn’t as straightforward as other online purchases. This is primarily because cryptocurrencies and the blockchain technology that supports them is still under a decade old. Advancements are being made all the time as cryptocurrency becomes increasingly popular, but we’re still probably a few years away from bitcoin being as ubiquitous as fiat currency in society.

What’s the fastest way to buy bitcoin?

The fastest way to buy bitcoins is through a credit/debit card. When paying with a card you’ll have your bitcoin credited to your account pretty much instantly, which contrasts with other methods such as bank transfer which can take up to 5 days. Pretty much every platform accepts debit cards, while only some accept credit cards; you can learn exactly how to buy bitcoin with a credit/debit card in our step-by-step guide to the process.

What are the fees for transactions?

It depends on the method of payment and the platform you’re using. Fees for credit/debit cards usually range from 1-5%, but bank transfers are typically lower. The level of fees can vary significantly across platforms so it’s always good to check you’re getting a good rate before you buy.

What are the fees for depositing funds?

Again this is dependent on the platform and the way you’re paying for your bitcoins. Some exchanges don’t charge for depositing funds into your account, some will charge for all types of deposit, and some will charge for one method (e.g. credit card) but not for another (e.g. bank transfer). Each platform will have information available on the fees they charge, so have a read before depositing your funds.

What are the fees for withdrawing funds?

Withdrawal fees will usually be either the same as or slightly more than the deposit fees on a particular platform. The exact level of fees is always dependent on the platform and method of payment being used, but it is generally true that you’ll find the lowest withdrawal fees with bank transfers and the highest with credit cards. Withdrawal fees only apply if you’re selling your bitcoins and withdrawing fiat currency – you can move your bitcoins from wallet to wallet free of charge.

Where do I buy coins?

You’ll find the answer to that question here on CryptoSuper.market. You’ll find links to all of the best places to buy bitcoin, and our meticulously researched guides will tell you everything you need to know about the process involved. To get you started, some of the best platforms we’ve found are Coinbase, CoinMama, LocalBitcoins, Kraken and Changelly.

Should I leave my coins on an exchange after I buy them?

It’s up to you. If you intend to trade your coins regularly or exchange them for other cryptocurrencies then it makes sense to leave them in an exchange. However, if you are buying bitcoin as an investment and are looking to hold the coins for a long time, it’s best to move them into a wallet for safety purposes. This is because of the risk that, if your exchange happened to be hacked or account suspended, your bitcoins wouldn’t be accessible.

If the limits aren't high enough, can I buy coins on multiple exchanges?

Absolutely. You can sign up for various services and purchase bitcoins from each. You can then either leave these coins on each exchange or consolidate them all by sending them to one wallet.

Why do I have to buy bitcoin in order to buy other cryptocurrencies?

Most services allow you to use fiat currency to purchase the largest cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, if you want to buy other coins, you will usually need to use your bitcoin/other cryptocurrency to do so. You’ll also want to bear in mind that to be able to buy another cryptocurrency with bitcoin, they will have to be ‘paired’. This simply means that you are able to exchange them directly for each other, exactly like how exchanges will only let you buy bitcoin with specific fiat currencies (e.g. GBP and USD). Bitcoin is paired with most coins, but it’s a good idea to check if you need a specific cryptocurrency to buy the coin you’re after.

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