Brought to life in 2014, Siacoin (SC) is a blockchain project that’s aiming to decentralise cloud storage. It’s currently still sitting in the top 100 cryptocurrency projects (ranked by market capitalisation).
But despite being around a while, it’s not available in that many places.
Check out this short post for an overview of places where you can buy Siacoin (SC) in the UK.
Summary: Where Can You Get Siacoin (SC)?
Here’s a quick summary of three places where you can buy Siacoin (SC) in the UK, along with estimated fees you’d pay.
|Provider||GBP Deposits Available||Fees|
|Binance||Yes||Up to 0.10%|
|Kraken||Yes||Up to 0.26%|
|BC Bitcoin||Yes||3% (with discount)|
Binance is the cheapest option of the lot. It supports GBP deposits and allows you to buy Siacoin (SC) at the real exchange rate without paying more than 0.1% in trading fees. Your initial deposit will be slow, but thereafter it’s quick to deposit GBP and buy any of the 250+ supported cryptocurrencies.
If you’re after a more personal touch and care about service, then check out BC Bitcoin. Take advantage of our exclusive offer and you’ll only pay 3% in fees (normally 5%) when you buy Siacoin (SC) with a UK bank transfer.
Let’s go through some more details about these two below.
Buy Siacoin (SC) in the UK
But let’s cut to the point.
The maximum fees you’ll pay on Binance are 0.1%. That’s already great, but you can get discounts on this by paying for your fees using Binance Coin (BNB), or when you trade more using it.
In 2020, Binance introduced support for GBP deposits via UK bank transfers too. Because they support Faster Payments, deposits you make are credited fast (within 15 minutes after your initial transfer). This is free, too.
There’s no GBP trading pair for Siacoin (SC) on Binance, so you’ll need to exchange another cryptocurrency for it instead.
In the summary above, I’ve chosen Tether (USDT). However, there are three other Siacoin (SC) trading pairs available on Binance you can choose from.
Binance also allows you to deposit GBP using a credit or debit card. At the time of writing, you’ll be charged a fee of 1.8%. That’s extremely competitive, but it’s still an unnecessary fee that you’re paying.
And FYI: you’ll usually pay additional fees (and higher interest) to your card issuer if you use a credit card. This further increases the cost of using a credit card to buy cryptocurrency.
2. BC Bitcoin
BC Bitcoin is another option way you can buy Siacoin (SC) in the UK.
Founded in 2017, this is a cryptocurrency broker that allows you to buy and sell almost any cryptocurrency you want to get your hands on. This includes Siacoin (SC), as well as Filecoin (FIL), AAVE (AAVE), and more.
You’ll normally be charged 5% in fees if you buy less than £5000 worth of Siacoin (SC). But if you register with them using our exclusive sign-up portal, you’ll only pay 3% in fees if you buy Siacoin (SC) and other cryptocurrencies with a UK bank transfer.
These fees are higher than what’s possible to get on a cryptocurrency exchange. However, it’s much easier to use and they have great customer service – which is something that you’ll find many exchanges struggle with.
The minimum order value is £250, too. But FYI, you can buy multiple cryptocurrencies in a single order. If you want to do this, you’ll have to contact them though (it’s not possible via the website).
Best Siacoin (SC) Wallets
You can leave Siacoin (SC) on cryptocurrency exchanges (and with some brokers). This is sometimes the best option, especially if you’re looking to trade back and forth.
However, it’s well-recommended across the crypto-community to take ownership of your coins by withdrawing them to a wallet that you control.
Compared to other projects, Siacoin (SC) has quite a low number of wallets that you can choose between.
The most obvious choice is to download the official client: Sia UI. This is only available on desktop computers, but it looks slick!
It also looks like you can store Siacoin (SC) on the Ledger Nano S – but it requires a bit of messing around to get this working.
Thanks for Reading
Thanks for checking out this guide to buying Siacoin (SC). I hope it’s been useful.
Any questions? Let me know in the comments.
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