8 Best Ways to Buy Bitcoin in the UK (2021)

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!

8 Best Ways to Buy Bitcoin in the UK

1. Coinbase Pro

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

Coinbase was the first major bitcoin exchange which was granted an e-money license. This was a big deal at the time, as no other (major) cryptocurrency exchange used to offer GBP deposits via Faster Payments. It means that you can make 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 within minutes.
  • You’ll be able to buy bitcoin at the best possible rate and without incurring high fees (just 0.5%).

There’s only one catch. If you’ve never used a cryptocurrency exchange before, it might be a little intimidating.

If you want more details about this, check out my guide to buying bitcoin in the UK. (It includes a walkthrough of the entire process.)

Guide: Buy Bitcoin in the UKFind Out More

2. Crypto.com

Crypto.com allows you to buy bitcoin (and other cryptocurrencies) at the real exchange rate with 0% fees.

GBP deposits have been temporarily disabled, so this option currently requires a few extra steps to get working. It’s also a little slower because of this. If you want to buy bitcoin cheaply and quickly, then this isn’t the optimal choice.

The process goes like this:

  • Download Revolut (a mobile banking app) and create an account.
  • Download Crypto.com (another mobile app) and create an account.
  • Add and activate your EUR account in Revolut (see below).
  • Deposit GBP (via UK bank transfer/debit card) to your GBP Revolut account.
  • Exchange GBP for EUR in Revolut (at the real exchange rate, with no fees, instantly).
  • Transfer EUR from Revolut to Crypto.com.
  • Buy bitcoin (at the real exchange rate, with no fees).

Few things that are important to know if you’re considering this:

  • SEPA transfers are only processed on weekdays. If you send EUR on a weekend, it won’t be processed until Monday.
  • Revolut charges a 0.5% fee if you exchange currencies on a weekend.
  • You can only use Revolut to exchange £1000 over a rolling 30-day period. If you go over that limit on a free account, you’ll be charged a 0.5% fee.

Add & Activate Revolut EUR Account

  • Add EUR account in Revolut.
    • Select:
      • More (in bottom bar).
      • Profile (in top bar).
      • Account Details.
      • Add Account.
      • Search for EUR and tap on it.
  • Activate your EUR account in Revolut.
    • Select:
      • More (in bottom bar).
      • Profile (in top bar).
      • Account Details.
      • EUR.
      • Activate.
  • Details should populate, with the beneficiary (your name), IBAN, and BIC

Crypto.com ReviewDownload App Now

3. CoinJar

CoinJar Logo

CoinJar is a cryptocurrency broker (founded in 2013) which allows you to buy bitcoin (and other cryptocurrencies) with a UK bank transfer.

You’ll be charged a 1% fixed fee when you buy or sell bitcoin on CoinJar, but you’ll also be quoted bitcoin prices that are a little above the real exchange rate. When I tested it out, I found that I’d paid a total of about 1.5% in fees (which is competitive).

Deposits are credited in minutes and its intuitive interface makes it simple and easy to use.

Read my review or check out their site for more details.

CoinJar ReviewCoinJar Website

4. Wirex

Wirex allows you to buy bitcoin (and other cryptocurrencies) with a debit card, credit card, or UK bank transfer without paying crazy fees. There’s a fee of about 1.5% baked into the exchange rate and a fixed fee of 1%. I think the interface sucks, but it’s easy enough to navigate around.

It’s one of the cheapest ways you’ll be able to buy bitcoin in the UK without using an exchange like Coinbase Pro. It’s usually the easiest cheapest way to buy bitcoin with a debit or credit card in the UK too, but it has been temporarily de-throned by Crypto.com.

Read my quick guide for further details.

Quick Wirex GuideGet Started Now

5. Solidi & Bittylicious

Solidi and Bittylicious are both well-recommended UK-based options which allow you to buy bitcoin in the UK with a simple 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’ve used 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

6. Coinfloor

Coinfloor has been around since 2013, which makes it the longest established UK bitcoin exchange. They’re a reputable exchange, which seems especially popular with traders, brokers, and large investors.

It supports UK bank transfers (via Faster Payments), which means that GBP deposits should be quickly credited to your Coinfloor account. It provides you with access to the real BTC-to-GBP exchange rate, but there are trading fees of 0.3% for low-volume users. On top of this, there’s a fixed fee of £2.50 for each deposit you make.

This isn’t too bad if you’re buying large chunks. If you deposited and bought £1000 worth of bitcoin on Coinfloor, you’d only pay about 0.55% in fees. That’s about the same as Coinbase. However, it currently has a 0.0005 BTC withdrawal fee (approx. £4 at the moment).

Coinfloor Website

7. Localbitcoins

Localbitcoins homepage header

Localbitcoins is a peer-to-peer (P2P) trading site which allows you 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:

  • Bank transfer (Faster Payments)
  • PayPal
  • Western Union
  • Altcoins (e.g., DASH, XRP, XMR)
  • Gift cards

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

8. BeyondCC

BeyondCC offers competitive bitcoin rates if you want to buy bitcoin in the UK with a GBP bank transfer. They offer a similar experience to Solidi and Bittylicious. But rather than rely on a network of brokers, they handle all of the sales themselves.

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?

Let me know in the comments section below if your favourite option isn’t listed!

25 thoughts on “8 Best Ways to Buy Bitcoin in the UK (2021)”

  1. Hey thanks for such a great guide! Ive found cryptocurrency quite daunting but have wanted to get involved for sometime. I stumbled across this blog while researching crypto via Revolut – something I will now be stopping.

    I was just wondering if buying through Crypto.com is all I need to do or do I need to source a wallet as well? I apologise for the beginner level question. Any advice would be great

    Reply
    • Glad you’ve found it useful, Ciaran!

      Yep, it’s a shame that Revolut has failed to introduce cryptocurrency deposits/withdrawals – even around 3 years after they introduced crypto support inside the app! There are loads of places that have lower fees too.

      Most of the places where you can buy bitcoin and other cryptocurrencies have custodial wallets that you can use. This means that you can send, receive, and store cryptocurrency with them. This is the easiest option, but it does mean that you’re trusting them with your cryptocurrency – which introduces risks (e.g. funds get stolen, they restrict your access to it, etc.).

      Getting your own wallet negates these risks, but you then become responsible for keeping it secure. Lots of people recommend hardware wallets (see here for some of the options available), but you can pickup a desktop or mobile wallet too. If you’re just looking at bitcoin, then check out this for some of the more popular/reputable options.

      I tend to leave small amounts of my cryptocurrency in custodial wallets – just because it’s convenient and I have easy access to it.

      Hope this helps. Good luck in your crypto adventures!

      Reply
    • Hi I’m also a beginner & I use Coinbase they supply an internal wallet which your Bitcoin goes to automatically when you buy it via bank transfer, debit/credit or PayPal. I have been looking around to see if I’m on a good platform & it seems I am according to this site & also Martin at money super saver ( I think it’s called) also what I said above about the wallet on Coinbase I am fairly sure I’m right but maybe double check as I’m a bit of a novice.
      Iv been with the for 2 years but only dabbled now & then till recently and I haven’t purchased a wallet I just use Coinbase & when I buy Bitcoin via bank transfer it goes straight into a place called Bitcoin wallet :). Until recently I wasn’t even aware I should have a special wallet so maybe I’m just lucky or I’m doing it right but Coinbase are strict on security so I think you’ll be safe with them.
      Good luck 🤞

      Reply
      • Thanks for sharing your experience, Cleo!

        Coinbase is a popular and reputable company, with some serious investment in security. It’s obviously in their continued interests to ensure that everyone’s money remains safe too, but there is also insurance for the 2% of consumer cryptocurrency balances that they say they keep online (see here).

        However, I still think that taking custody of your cryptocurrency is important so that you have 100% control over it. But I do understand the reasons why people prefer to just leave it with Coinbase (simpler, easier, and free).

        Reply
  2. The problem at the moment is not which exchange to use but rather how to get YOUR Money onto the exchanges in the first place. It seems that most UK bank accounts are simply either ignoring completely your wish to make a payment to the Exchanges or in the case of Barclays flagging a fraud warning and disconnecting internet banking, involving then at least an hours wait to get internet banking re-instated and still not making the payment. I have had a note put on my account, so now at least they don’t cut internet banking but if I try to make a payment it is credited back to the account before it is taken. Perhaps I should try a payment of around a million pounds and then hopefully earn interest for the fraction of a second that my account is credited 🙂 Anybody else? or has Bitcoin been excluded now from the general masses?

    Reply
    • Thanks for commenting, Dazz!

      I’ve read lots of experiences people have had with UK banks and it’s not 100% consistent. For example, I’ve been told by BC Bitcoin that Barclays is one that is more crypto-friendly and they experience fewer issues with!

      Something that I’ve seen mentioned elsewhere is to open a secondary account which is just for buying and selling cryptocurrency. At least then you won’t get locked out of your main bank account (even temporarily).

      Reply
      • Cheers for sharing your experience, Paul!

        To my knowledge, Revolut is still allowing people to send EUR to places like Crypto.com – but I have noticed that more and more places are not allowing money to be credited if it’s sent from this app (e.g. Kraken, Binance).

        Reply
  3. Hi Dean,

    In your opinion, is Coinbase Pro or Kraken the best to buy Bitcoin in the UK currently with regards to fees and price combined?

    Also what are your thoughts on BlockFi?

    Reply
    • Thanks for commenting, Richard!

      Crypto.com is still top of the pack as it’s 0% fees and nothing hidden in the exchange rate. I suspect that will change, but I continue to take advantage of it.

      I’m going to switch over to Kraken in the future – as it now supports GBP deposits, has deposit fees, and has trading fees which are half that of Coinbase Pro (for small volume). On the flip side, I’ve never had a problem with Coinbase Pro and I’ve always been impressed by how quickly deposits are credited once you’ve made your first deposit (within minutes).

      I like BlockFi and use it myself – but I’m still not 100% comfortable leaving too much in there. You can find out more in my BlockFi review, but let me know if you have specific questions about it.

      Reply
  4. Hi Dean.
    Great guides which I’ve come back to many times over the years, thanks!
    Can I ask the most cost-effective way to currently sell BTC in the UK?
    Harry

    Reply
    • Harry, glad you’ve found the site useful over the years!

      The most cost-effective way to sell BTC is still to use something like Coinbase Pro (up to 0.5% trading fees, real market rate) or Kraken (up to 0.26%, real market rate). Both support GBP deposits/withdrawals and have decent trading volume.

      You could also use the Crypto.com app. With this, you can sell at the real market rate with 0% fees. I don’t expect this will last forever, but it seems like a good choice while it does. However, one downside is that they take days to process GBP withdrawals.

      Let me know if you have any other questions!

      Reply
  5. Thanks Dean. Revolut don’t allow transfers to Bitstamp any more. Their customer service just told me that the information on their website is out of date.

    Reply
    • Hi Jon,

      Thanks for commenting and letting me know! I’ll look into it. It’s quite strange, as I believe that Bitstamp was Revolut’s partner for providing cryptocurrency via their app!

      If you don’t want to use Coinbase Pro or Wirex, you could always check out Kraken. They support GBP deposits via UK bank transfer and have reasonable deposit and trading fees.

      Thanks again for letting me know!

      Reply
    • I don’t think that’s accurate. I transferred GBP to Bitstamp from Revolut only yesterday! To be frank though, since Bitstamp started accepting GBP deposits earlier this year, there is no need for the Revolut step to convert to Euros.

      I last sent EUR from Revolut to Bitstamp on 4th June. Been sending GBP ever since.

      Reply
      • Thanks for commenting, Jimbo!

        You’re right. With more exchanges now supporting GBP deposits via Faster Payments, there really isn’t any need to use Revolut to convert GBP to EUR and send SEPA transfers to crypto exchanges.

        And that’s good timing! Revolut’s fee-free exchange limits having slowly been going down unless you upgrade to a premium account. You can now only use Revolut to exchange £1000 worth of currency every month for free (it was £5000 in 2017). They also upped the fees for exchanging currencies on a weekend (was 0.5%, now 1%).

        The only reason I still prefer using Coinbase Pro over Bitstamp is that they don’t charge any BTC withdrawal fees (currently about £5 to withdraw from Bitstamp).

        Reply
  6. Hey Dean,

    Love your site. Would be great to get your thoughts on Blockchain’s exchange they just launched, “The PIT” and how that stacks up for UK customers.

    Reply

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