So what’s the best place to buy Ark Coin (ARK) in the UK without getting ripped off?
In 2023, I think the best place to buy ARK is via the Crypto.com app. It supports ARK and a growing number of cryptocurrencies (250+), has a decent interface, allows you to deposit GBP via a UK bank transfer, or instantly purchase Ark with a debit card.
Read on to find out all the essentials (no fluff).
Summary: Best Places to Buy ARK Cryptocurrency [UK]
The table below summarises where I’ve found that you can buy Ark (ARK) in the UK with various payment methods.
|Provider||Payment Method||Fess (Approx.)|
|Crypto.com||UK Bank Transfer||Variable|
|Crypto.com||Credit & Debit Card||2.99%+|
|BC Bitcoin||UK Bank Transfer||5%|
Scroll down to find out more.
How to Buy Ark (ARK) in the UK
1. Crypto.com App
The Crypto.com app is one of the cheapest places to buy Ark (ARK) with GBP in the UK.
You can transfer cash into your Crypto.com GBP wallet using a UK bank transfer.
If you take this route, then there are no transaction fees. Unfortunately, I’ve noticed that the exchange rate you’re quoted when buying Ark (ARK) using the Crypto.com app is a bit higher than you’d expect (1%+). This is also the same for other cryptocurrencies.
- Create a Crypto.com account. Verification takes minutes.
- Send over GBP to your Crypto.com account using a UK bank transfer (I use Revolut).
- Buy Ark (ARK) with the GBP in your Crypto.com account.
There is a fixed fee of 2.99% whenever UK residents buy Ark (ARK) or other cryptocurrencies with a credit or debit card.
However, you will be still be charged prices that are above the real exchange rate when buying ARK on Crypto.com. Just to reiterate, I’ve been consistently finding that there’s a hidden fee of about 1% in it.
In total, this means that you’re actulaly paying around 4% (or more) in fees.
- Create a Crypto.com account. Verification takes minutes.
- Connect your debit card to your Crypto.com account.
- Buy Ark (ARK) using your connected card.
The Crypto.com app supports dozens of other cryptocurrencies too (170+), which makes it a great place to pick up cryptocurrencies that you’re not able to get on popular cryptocurrency exchanges.
Download Crypto.com AppCrypto.com Review
2. BC Bitcoin
BC Bitcoin is a highly rated cryptocurrency broker that was founded in 2017.
If there’s a cryptocurrency you’re after that you can’t find elsewhere, chances are that BC Bitcoin can help you get your hands on it. One of the few exceptions to this are privacy-focused cryptocurrencies like Monero (XMR) and Zcash (ZEC).
You’d normally be charged 5% in fees if you wanted to buy anything that isn’t Bitcoin (BTC) on BC Bitcoin. You should be charged the real exchange rate (i.e., no hidden fees).
- Create a BC Bitcoin account. You’ll need to verify your identity.
- Head over to the ‘Buy Coins’ page on BC Bitcoin’s website.
- Select ARK from the dropdown box, bank transfer as your payment payment, and how much you want to buy.
- Input the wallet address you want the coins sent over to.
- Send over the required GBP using a UK bank transfer to BC Bitcoin’s account.
- Once that arrives, BC Bitcoin will send over the ARK you’ve bought.
One downside of using BC Bitcoin is that there’s a minimum order amount of £250
You also have to sort out a wallet that can store ARK ahead of time (see below for some options), as BC Bitcoin don’t provide a hosted wallet like Crypto.com app.
BC Bitcoin WebsiteBC Bitcoin Review
Best Ark (ARK) Wallets
What’s next after you’ve bought Ark (ARK)?
You could leave your Ark (ARK) in the same place you bought it from. However, there are lots of hardware, desktop, and mobile wallets that you can transfer it over to.
Here are a few options:
- Official Wallet (Desktop & Mobile Wallet)
- Atomic Wallet (Desktop & Mobile Wallet)
- Ledger Nano S (Hardware Wallet)
- Ledger Nano X (Hardware Wallet)
Hardware wallets are well-recommended in the community. When friends ask, I usually point them towards the Ledger Nano S because it’s popular, affordable, and supports dozens of cryptocurrencies.
Check out my Ledger Nano S review to learn more about it.
What is Ark Coin (ARK)?
Ark Coin (ARK) is the native cryptoasset for the Ark ecosystem. The Ark ecosystem is a collection of open-source platforms that make it easier for developers to use blockchain technology for their own unique purposes. With Ark (ARK), coin holders can vote for delegates to secure the Ark network and earn rewards in the process.
Check out this quick video to get an idea of how the Ark ecosystem works:
Ark is billed as an open-source platform where developers can access all the tools they need to create their own blockchains without the need for prior blockchain coding experience.
The platform calls itself “the simplest way to blockchain” and “the most adaptable blockchain framework”. Ark was launched in 2017 by a group of experienced blockchain developers that included Francois-Xavier Thoorens, Rok Černec, and Lars Rensing.
Ark’s primary goal is to make it easier for companies and individuals to develop customizable layer-1 blockchain networks as quickly as possible.
Using the Ark Blockchain Framework, developers can build on top of Ark’s unique Delegated Proof-of-Stake (DPoS) consensus model and access Ark’s powerful cross-chain smart bridges technology. The team at Ark argues that building on the Ark Blockchain Framework is better than using Ethereum because Ark has lower fees and faster transactions.
So, what does Ark Coin (ARK) do within this ecosystem?
Ark Coin (ARK) is a critical part of the Ark ecosystem’s DPoS consensus model. With this model, there are only 51 delegate nodes that can validate transactions on the Ark blockchain.
Holders of ARK coins can vote for validators to determine which node gets to forge the next block. Every time a node forges a block (this happens every 8 seconds), it’s rewarded with 2 ARK that are collected from transaction fees paid to the network.
Those coins are generally distributed equitably among all of the wallets that voted for that delegate node. While there’s technically no requirement for delegate nodes to distribute staking rewards, most opt to do so in order to entice stakers to vote for them instead of other nodes.
The main benefit of holding Ark Coin (ARK) is that you can use it to earn passive income by voting for delegate nodes on the Ark blockchain. When you stake your ARK and vote for a delegate node, you can usually earn a portion of the rewards that your node receives for validating transactions on the network.
There aren’t many other uses for Ark Coin (ARK) besides voting for delegate nodes.
However, proponents of the Ark ecosystem believe that ARK coin’s value could increase in the future if more developers opt to build their platforms on Ark. But Ark faces stiff competition from other major layer-1 blockchains – including Ethereum, Solana, and Avalanche, in its quest to appeal to developers.
Thanks for reading this guide about how to buy Ark Coin (ARK) in the UK!
Let me know if you have any questions in the comments below.
And if you liked this, check out some of my other posts: