9 rows · Nov 13, · Residents of the UK can use Coinbase to buy Bitcoin which is a popular 5/5. Jul 28, · 1. eToro - Best Overall UK Investment Platform eToro is a hugely popular investment platform for newbie traders, with more than 12 million users now active at . Dec 09, · CoinJar is hands down the best exchange in the UK for beginners. The user interface is simple to use and their support team is excellent. CoinJar has become one of the most popular exchanges in the UK for good reason, it provides an excellent platform that is easy to use with some of the lowest fees in the industry.5/5(15).
Best platforms to buy bitcoin ukBest Bitcoin Trading Platform UK - Cheapest Platform Revealed
The trading fee is 0. So users have to start paying 0. And even though it supports U. Paxful recently re-designed themselves and jumped right to the top when it comes to being the best Bitcoin trading platforms. It has absolutely no geographical restrictions. Most low-level traders can sneak around without having to complete any KYC verification whatsoever.
Another feature making it the right pick for this best Bitcoin trading platforms is its acceptance of over different payment modes! As for security, Paxful has been globally recognized by some of the biggest names in the industry as one of the most secure trading exchanges. LocalBitcoins is a Bitcoin market with a totally different vision and environment. You can either buy or sell your Bitcoins online on Local Bitcoins directly to other humans. LocalBitcoin servers as an online wallet , an escrow system to facilitate a safe deal.
Obviously, two-step authentication is available and works towards making your LocalBitcoin account and wallet secure. Update: LocalBitcoins now requires Mandatory KYC verification in most cases, and hence has been moved to the bottom of this list considering how we take your anonymity seriously and only prioritize anonymous best trading exchanges.
Phemex despite being one of the newest exchanges, is one of the best Bitcoin trading exchanges for more than one reasons. Currently, it only supports BTC deposits. Bitcoin deposits require only 1 confirmation to be considered valid. Makers get paid a 0. For takers, the fee is 0. Both the minimum deposit and withdrawal have a requirement of 0.
Cold-wallets exist for extra security. Double-entry bookkeeping prevents fraud and other similar actions in an account. Up to x leverage trades available.
It too, alike Phemex believes in paying the makers for trades. Makers earn a 0. Deposits are completely free. Withdrawals are priced at 0. Every cryptocurrency also has its own minimum withdrawal limit, which is — 0. The live-chat is available 24X7, the response-time is impressive and the answers are detailed. They have three verification level, and in order to trade users have to be atleast level 3. The verification takes a maximum of 48hours in most cases; and is most often completed in less than a working day.
S customers. Withdrawal fee is 0. They do have an extremely secure cold-storage for safe-keeping majority of the funds. KuCoin is a new player to the Bitcoin exchange game, however since its angel investment round in August it did skyrocket its performance, availability, features and everything else. Trading Passwords are another security fail-safe which can be set on the platform, they are like 2-FA but not for login rather are used for transactions, withdrawals and other major fund-related activities.
Advanced features such as an anti-phishing mechanism as well as Login safety phrase are available as well. Coinbase is without doubt one of the best cryptocurrency trading market in the industry, it also is one of the most professional options when it comes to a Bitcoin market. It offers simple buying and selling of Bitcoins, in one of the most secure environments in the industry. Primarily you can automate purchase and sales of Bitcoin without you having to touch the computer.
The limit also varies based on your residence, type of citizenship and method used to purchase Bitcoins. Also ACH payment method will clear you for a higher limit compared to using a Credit card for the same. The processing fee differs based on Payment method and country.
First and foremost reason why BitFinex deserves to be on this Bitcoin market list is because of their magnanimous trade volume!
Secondly, they claim to have the minimum slippage during an exchange, and support a wide range of options apart from Bitcoins, including Ethereum, Zcash, Litecoin and Monero to name just a few. The currency is stored in cold-storage, with only 0. Even the cold-wallets are protected, and require high-level manual access from the team to be transferred anywhere else!
As far as interface or customization is concerned, they not only offer some of the best looking dashboards, but they can be completely customized from your end as well! And obviously their API is advanced enough for you integrate with any of your custom made tools to monitor pre-made charts, create your own charts, edit orders automatically or anything else based on your skills and creativity.
Fee structure is based on the Maker-Taker model. It starts with a 0. LakeBTC is best known for its security measures and transaction fee, which equally competes with the fee of any other large Bitcoin trader in the industry since its early days. The other feature worth pointing out is its huge currency support! They use a trader-maker model by default, where the taker pays 0. And it grows up to a mark of 0. BitStamp is another giant in the line of facilitating Bitcoin trading in the Bitcoin market with an average day trade volume of , meaning lower Bitcoin prices and bulk buying opportunities for you!
As far as processing fee goes, it has a very simple calculation to that. The lowest mark being 0. Also, I personally love the security, it uses two-factor authentication just like any other security conscious Bitcoin market, in addition to its PGP and GPG encryption algorithms. Meaning all new deposits will be stored in an environment which is completely isolated from any online system.
It uses two other kinds of Bitcoin wallets , semi-cold and hot to store currencies for different purposes. ItBit Trust has quite a number of factors why it can be trusted and is one of the first names in the Bitcoin market these days. Secondly, its board of directors have been known to wield extreme power themselves, ranging from ex-US Senators to the chairman of the FDIC. Once you follow the above instructions, the automated Bitcoin trading robot will begin placing buy and sell for you.
While Bitcoin robots do all of the bidding for you — some investors in the UK find the phenomenon somewhat uncomfortable. This is because you will be allowing software to use your hard-earned trading capital. Put simply, signals are trading suggestions sent out by a third-party. In most cases, this will be an experienced human trader that spots a profit-making opportunity.
Then, the trader will tell you what orders to place to capitalize on their findings. This will usually come via Telegram, email, or SMS. As you can see from the above, the best Bitcoin trading signals will provide you with all the required orders need to not only access the trade — but to do so in a risk-averse manner. The underlying concept of automated Bitcoin robots and signals are great. After all, you can sit back and make money without needing to do any of the legwork.
However, there are thousands upon thousands of providers active in this space — most of which are scams. But, rarely do these guarantees come to fruition. As such, if you like the sound of automated Bitcoin trading but want to ensure that you avoid unsavory scam-artists, we would suggest checking out what eToro has to offer. Regarding the former, this allows you to select an experienced Bitcoin trader that has a long-standing track record of making monthly gains at eToro.
Then, your personal eToro portfolio will be mirror your chosen Copy Trader like-for-like. As per the above, you made a profit without needing to lift a finger. Best of all, you can rest assured that you are automating your Bitcoin trading endeavors in a safe and secure environment — as eToro is FCA-regulated! This works in a similar way to the former, albeit, these are professionally managed portfolio investments.
In other words, eToro will determine which assets to add to the CopyPortfolio, when to buy and sell, and when to rebalance. In particular, eToro offers a CopyPortoflio that focuses exclusively on cryptocurrencies. This is as close to a traditional index fund as you will get in the Bitcoin trading space — as the portfolio is weighted based on factors like market capitalization, coin value, and recent performance.
Margin trading — otherwise referred to as leverage, allows you to trade with more money than you have in your account. Although the UK has technically left the EU, these rules still remain in place. This means that the most you can apply is major forex pairs , with other assets coming with lower limits.
In order to access these markets, you need to use a CFD broker. With that in mind, the only way that you will be able to engage with Bitcoin margin trading is to use an unregulated, offshore broker that offers crypto derivatives. It will come as no surprise to hear that we strongly suggest avoiding such platforms, as your capital is at risk.
After all, if the broker collapses — it will likely take your funds with it. There are many benefits — as well as risks, of using Bitcoin trading platforms to buy and sell crypto assets.
The obvious starting point here is that Bitcoin — albeit, 12 years old, is still a new and exciting technology that is still well in its infancy.
The underlying technology — the blockchain, can do things that we have never seen before. In addition to the above, Bitcoin is decentralized. All in all, the above characteristics mean that by trading Bitcoin, you can enter the crypto market at a very early stage. This is no different from investing in top-rated internet stocks like Amazon back in the s. But of course, there is no guarantee that you will make money by trading Bitcoin, so do bear this in mind.
As we briefly covered earlier, the best UK Bitcoin trading platforms offer heaps of markets. This covers both crypto-to-fiat and crypto-cross pairs. This ensures that you can take full advantage of short-term price movements.
For example, you might think that Bitcoin is undervalued against the British pound — and place a trade accordingly. On another occasion, you might think that Bitcoin is underpriced against Ethereum. Whatever your prediction, Bitcoin trading platforms offer heaps of pairs and markets that you can access at the click of a button. When you trade traditional assets like stocks and shares, you can only do so during standard market hours.
As such, anything trades outside these hours must wait until the market reopens. However, Bitcoin trading platforms in the UK operate 24 hours per day, 7 days per week. Sure, you might not have a requirement to buy and sell Bitcoin during the early hours of Sunday morning.
But, knowing that the markets never close is a handy safeguard to have. After all, you might want to cash out your position instantly and not want to wait until Monday morning to be able to do so. Back in the early days of Bitcoin trading, volume was minute. This went from a few hundred dollars a day, to thousands, and eventually millions.
However, fast forward to , and Bitcoin trading platforms collectively see billions of pounds worth of activity each and every day. The best Bitcoin trading platforms in the UK allow you to get started with ease. Best of all, you can trade Bitcoin with small amounts. This ensures that you can trade Bitcoin online without needing to risk large amounts of money. This means that you can speculate on the price of Bitcoin rising, as well as falling.
However, there is a slight caveat to this benefit. This was the go-to avenue to short-sell cryptocurrencies like Bitcoin. The good news is that you can still short-sell Bitcoin if this is something you want to achieve. This means that you will be trading Bitcoin against Tether — which is pegged to the US dollar. It goes without saying that any asset class can lose you money when trading it online. This is no different from trading Bitcoin.
As such, you need to understand the financial risks involved. As we cover shortly, you can mitigate these risks by deploying a sensible risk management strategy.
Bitcoin is a new and often volatile digital currency — meaning that you stand the chance of losing more than you had hoped. This is much more likely to happen than a blue-chip stock — so do bear this in mind. When you trade established, stable stocks — you will find that the spreads on offer are super competitive. However, as Bitcoin trading platforms experience high levels of volatility throughout the day, this often results in wider spreads.
For those unaware, this is the difference between the buy and sell price of Bitcoin. The wider the spread, the more you indirectly pay in fees. For example, at eToro, while the spreads on major stocks average 0. Depending on which Bitcoin trading platform you sign up with, you might need to have an understanding of how crypto wallets work.
This is because cryptocurrencies like Bitcoin are stored in a digital wallet on your desktop or mobile device. This means that you need to have an understanding of private keys, public addresses, and backup phrases.
This is because eToro will safeguard your digital coins in their own wallet. Trading Bitcoin and expecting to make a profit from day one is wishful thinking. After all, you need to understand what drives the price of Bitcoin and thus — how to capitalize from this.
To help you along the way, below we have listed some of the most utilized Bitcoin trading strategies. This entails buying Bitcoin and then holding on to the investment long-term.
This might be for several months or even years. The reason that this strategy is useful for newbies is that you do not need to worry about short-term volatility. This is a short-term approach to Bitcoin trading, as you will be looking to stay with wider trends. For example, if Bitcoin is on a prolonged downward trend, then you will want to short-sell the digital currency.
Skilled swing traders will look to keep this sell position open for as long as the Bitcoin trend is bearish.
When it appears the trend is coming to an end, the swing trader will exit the position. Then, if and when a new upward trend kicks in, the swing trader will once again capitalize.
Only this time, with a buy order. Day trading is the process of buying and selling Bitcoin pairs throughout the day. In fact, as most positions remain open for just minutes or hours, rarely do day trading keep an order open overnight.
As you can imagine, keeping hold of a position for such a small amount of time will result in minute profit margins. However, it is important to remember that day traders will usually place heaps of trades every day — so these small profits can quickly add up. Take note, day traders rely almost exclusively on technical indicators.
As such, if you like the sound of day trading Bitcoin, you will need to understand how to read charts and perform in-depth analysis.
Bitcoin and the wider cryptocurrency scene has been the victim of several wide-scale scams in the past. This includes Ponzi Schemes, bogus funding raising projects, and exchange hacks. Plus, Bitcoin is often the preferred currency for criminals — due to its anonymous characteristics.
With that being said, Bitcoin trading can be safe if you follow a crucial rule — only use regulated platforms. This means that the platform is required to keep your funds in segregated bank accounts, ID all account holders, and have its books regularly audited. As such, by using regulated Bitcoin trading platforms in the UK, you can ensure that you are able to buy and sell cryptocurrencies safely. Irrespective of which of the above Bitcoin trading strategies you decide to deploy, it is crucial that you have a risk management plan in place.
As the name suggests, this will ensure that you are able to trade Bitcoin in a risk-averse manner. In its most basic form, you can achieve this goal by ensuring that you always set up stop-loss and take-profit orders on each trade.
If so, we are now going to walk you through the process of getting set up with eToro. You will need to create an account by entering some personal information.
This includes the basics — such as your name, home address, and date of birth. You will also need to create a username and password. However, as this needs to be done before you are able to make a withdrawal out of your eToro account, we would suggest doing it now. In doing so, eToro should be able to verify your account instantly! Bank transfers are supported but this can take several days to process. This will display each and every Bitcoin trading market available to you. However, as we noted earlier, newbies should probably stick with a traditional buy and sell strategy.
This is where you will need to set up an order. If, however, you are looking to swing or day trade Bitcoin, you should also set up a stop-loss and take-profit order.
This will mitigate your risks in the event of short-term volatility. There are hundreds of Bitcoin trading platforms in the UK, so knowing which provider to trade with can be a time-consuming process. After all, you need to check that the platform is regulated, that it offers your preferred payment method, and that it allows you to trade in a cost-effective manner.
Taking all of this into account, our in-depth research process concluded that eToro is by far the best Bitcoin trading platform in the UK. The exchange rate of Bitcoin in the UK will change on a second-by-second basis - as per demand and supply of the wider marketplace. If you are using a regulated Bitcoin trading UK platform - which you should be, you won't be able to trade anonymously.
On the contrary, you will need to upload some ID before you can make a withdrawal. However, there are hundreds of Bitcoin trading UK platforms that allow you to remain anonymous, albeit, they are unregulated. Plus, you won't be able to deposit or withdraw funds with a traditional payment method - as only cryptocurrencies are supported!
This means that you can trade in a safe and secure manner. However, many platforms are not licensed by the FCA - or any regulator for that matter, so tread with caution. The only platform that we are aware of that accepts Paypal is eToro.
Up until January , you could have traded Bitcoin with leverage of This would have doubled your initial stake. However, the FCA has since banned crypto CFDs, so you won't be able to trade with leverage unless using an unregulated platform, which you shouldn't.
The minimum Bitcoin trade will vary from platform to platform. Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane is also behind peer-reviewed publications - which includes an in-depth study into the relationship between money laundering and UK bookmakers.
Kane Pepi. Visit eToro Now. Over 35 million customers and a great reputation Very user-friendly Deposit funds with a debit card or via bank transfer Ability to withdraw your coins out to a private wallet Handy mobile app Holds a license from the FCA.