5 Best Ways to Buy Bitcoin in the UK (2018)

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. Coinbase Pro

Since the introduction of GBP deposits via Faster Payments, Coinbase Pro is now the cheapest, easiest, and most convenient way to buy bitcoin in the UK.

Coinbase is the first major bitcoin exchange which has been granted an e-money license. That’s a big deal, as no other (major) bitcoin exchange offers GBP deposits via Faster Payments in the UK.

The bottom line?

  • You can now send GBP to Coinbase Pro 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.

Check out my guide for more details.

Coinbase Pro Guide

2. Revolut Method

The Revolut to Bitstamp route is long-winded and not as convenient as alternative methods, but it’s 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:

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

Full Revolut Guide

3. 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

4. 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:

While lots of bitcoin sellers will ask for ID verification (to comply with rules/regulations), it is possible to trade anonymously with others – but for a premium.

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

Localbitcoins Website

5. Wirex

Wirex is the easiest and absolute cheapest way to buy bitcoin with a debit or credit card in the UK.

Wirex’s rates (just 1.5% above the actual exchange rate) are almost unbelievable. To put this into perspective, Coinbase (the cheapest alternative) charge about 4% above the actual BTC exchange rate. On a £1000 purchase, you’d get more bitcoin (equivalent to £25) if you used Wirex instead of Coinbase.

If you signup for a Wirex debit card (£1/month maintenance fee), you’ll be able to buy bitcoin with GBP bank transfers too.

Read my quick guide for further details.

Quick Wirex GuideWirex 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?

Do you agree with this list?

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!

One Response

  1. Mike 30th July 2018

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