Logos from some of the best places to buy bitcoin (BTC) from in the UK

5 Best Ways to Buy Bitcoin in the UK (2019)

What are the best ways to buy bitcoin in the UK?

There are loads of options available, but many aren’t competitively priced.

In this quick list, I’ll show you where you can buy bitcoin in the UK without getting completely and unnecessarily ripped off.

Here’s a peek at the best options in the UK:

Ready? Let’s go!

5 Best Ways to Buy Bitcoin in the UK

1. Wirex

 

Wirex allows you to buy bitcoin (and other cryptocurrencies) with debit cards, credit cards, and UK bank transfers at excellent rates – just 1% above the actual exchange rate. This is the cheapest you’ll be able to buy bitcoin in the UK without using an exchange like Coinbase Pro.

This makes Wirex the easiest and one of the cheapest ways to buy bitcoin with a debit or credit card in the UK.

Let’s put this into perspective. Coinbase charges about 4% above the actual GBP to BTC exchange rate when buying bitcoin with a debit card. On a £1000 purchase, you’d get more bitcoin (equivalent to £30) if you used Wirex instead of Coinbase.

Read my quick guide for further details.

Quick Wirex GuideGet Started Now

2. Coinbase Pro

Since the introduction of GBP deposits via Faster Payments, Coinbase Pro has been the cheapest way to buy bitcoin in the UK with a UK bank transfer.

Coinbase is the first major bitcoin exchange which has been granted an e-money license. That’s a big deal, as no other (major) cryptocurrency exchange offers GBP deposits via Faster Payments in the UK. This means that you should be able to use a simple UK bank transfer to deposit GBP into Coinbase.

The bottom line?

  • You can now send GBP to Coinbase and it’ll be credited in less than 2 hours.
  • You’ll be able to buy bitcoin at the best possible rate and without incurring any fees.

But there’s a catch. Coinbase has started putting GBP deposits to Coinbase ‘on hold’ for 5 days. So even though it’s the cheapest way to buy bitcoin in the UK, it’s also one of the slowest.

If you want more details about this, check out my popular guide to buying bitcoin in the UK.

Guide: Buy Bitcoin in the UK

3. Revolut Method

The Revolut to Bitstamp route is long-winded and not as convenient as alternative methods, but it’s still a cheap way to buy bitcoin in the UK.

Use this method if you want to get the possible price (i.e., eliminate fees) – regardless of the extra steps required.

The process goes something like this:

  • Download Revolut (a mobile banking app) and create an account.
  • Create a Bitstamp account.
  • Activate your EUR account in Revolut (full instructions below).
  • Deposit GBP (via UK bank transfer or debit card) to your GPB Revolut account.
  • Exchange GBP for EUR in Revolut (at the real exchange rate, instantly).
  • Transfer EUR from Revolut account to Bitstamp.
  • Buy bitcoin on the BTC/EUR market at the best possible rate.

It looks more complicated than it actually is. Check out my full Revolut guide for more details.

Guide: Buy Bitcoin via Revolut

4. Solidi & Bittylicious

Solidi and Bittylicious are both well-recommended UK-based options which allow you to buy bitcoin in the UK with a GBP bank transfer.

Both operate in much the same way:

  • You plug in how much you’d like to buy and then you’ll be matched with the cheapest registered broker (who can fulfil that order).
  • Once you’ve sent the money to the broker’s bank account, the funds are released from an escrow (held by Solidi/Bittylicious) to your wallet.

Using either option is fast, easy, and painless.

I use both options interchangeably depending on who is cheapest. Rates usually float somewhere around 1.5 – 2% above the actual BTC-to-GBP exchange rate (which is competitive).

Solidi ReviewSolidi Website
Bittylicious ReviewBittylicious Website

5. Localbitcoins

Localbitcoins is a peer-to-peer (P2P) trading site which allows people to exchange local currencies for bitcoin. It allows buyers/sellers to post adverts which set the exchange rate and the desired payment method. Other sellers/buyers can browse and reply to these adverts.

There are many different payment methods available. Some examples:

You’ll have to verify your identity to buy more than a small amount. Lots of bitcoin sellers will ask for ID verification (to comply with rules/regulations).

Localbitcoins was founded in 2012 and still remains popular in the UK and around the world.

Localbitcoins Website

Other Buying Options

Looking for even more ways to buy bitcoin in the UK?

Check out these buying options.

Coinfloor

 

Coinfloor (established 2013) is probably worth checking out if you’re looking to buy or sell large amounts of bitcoin in the UK.

Because Coinfloor’s minimum deposit amount is £5000 (£5 fee), it’s not suitable for smaller buyers (it’s aimed at traders or large investors).

Coinfloor Website

BeyondCC

BeyondCC offers the most competitive bitcoin rates if you want to buy bitcoin in the UK with a GBP bank transfer.

They’re not included in the ranked list above because they’re a new company (established 2018).

Interested? Read my review for more details.

BeyondCC ReviewBeyondCC Website

What do you think?

What do YOU think is the best way to buy bitcoin in the UK?

Is there somewhere cheaper, faster, or easier which I should check out?

Let me know in the comments section below!

Notes

Disclaimer

I’m not a financial advisor and nothing I write on this website should be construed as financial advice.

For more details, check out my full disclaimer.

What do other websites recommend?

If you search for “Buy Bitcoin in the UK”, you’ll find some strange recommendations sprinkled around.

I was interested in what popped up the most, so I counted up all the services mentioned at least twice in the top 10 search results.

In aggregate, these suggestions don’t look too bad.

WebsiteMentions
Coinbase6
Localbitcoins5
Bittylicious4
Coinfloor4
Bitcoin ATMs4
BitBargain3
CEX3
Kraken2
Safello2
Coinmama2

Why isn't my favourite service included in this list?

I’ll be changing and extending this list in the future.

If you do have a suggestion, let me know in the comments section below!

7 Comments

  1. Aiya 30th July 2019
    • Dean 31st July 2019
  2. Crypto Coin Dude 19th May 2019
    • Dean 25th May 2019
  3. andrew 7th October 2018
    • Dean 8th October 2018
  4. Mike 30th July 2018

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