Even though it has been around since 2014, there aren’t many places where you can buy Vertcoin (VTC) in the UK.
In this guide, I’m going to quickly go through where you can get it.
Overview: Where Can You Buy Vertcoin in the UK?
So, how can you buy Vertcoin (VTC) in the UK in 2021?
Here’s a quick overview:
|Provider||Payment Method||Fees (Approx.)|
|BC Bitcoin||UK Bank Transfer||3% (Exclusive Offer)|
|Bittrex||Bitcoin (BTC)||< 1%|
The simplest and quickest option is to buy Vertcoin (VTC) using BC Bitcoin.
These are service-oriented cryptocurrency brokers who make it easy to get your hands on nearly any cryptocurrency you want – the notable exceptions being privacy coins like Monero (XMR) and Zcash (ZEC).
On the other hand, the cheapest way to buy Vertcoin (VTC) in the UK is via Bittrex on the VTC/BTC market. But because you can’t deposit GBP into Bittrex, you’re going to need to buy Bitcoin (BTC) elsewhere and send it over to Bittrex.
Vertcoin (VTC) is not currently available on any of the best cryptocurrency exchanges in the UK.
However, I spotted this tweet on the 1st February 2021 (so perhaps this will change soon).
Buy Vertcoin (VTC) in the UK
The cheapest way to buy Vertcoin (VTC) in the UK is by exchanging Bitcoin (BTC) for it on Bittrex.
Unfortunately, you’re not currently able to deposit GBP into Bittrex.
On top of this, the only Vertcoin (VTC) trading pair available on Bittrex is VTC/BTC.
This means you’ll need to:
- Buy Bitcoin (BTC) using a cryptocurrency exchange or broker that supports GBP deposits.
- Deposit this Bitcoin (BTC) into your Bittrex account. This can take a while to be approved for trading.
- Buy Vertcoin (VTC) on the VTC/BTC spot market on Bittrex. You’ll pay 0.2% in trading fees if your trading volume is below $50,000 over a 30-day period.
Expand the sections below for more information.
Although Bittrex has low trading fees, consider the other fees you’re paying when:
- Depositing GBP into a cryptocurrency exchange or brokerage (if required).
- Buying Bitcoin (BTC) with GBP somewhere else.
- Withdrawing Bitcoin (BTC) from the cryptocurrency exchange or brokerage you’ve chosen.
If you’re not careful, these fees can easily make this route more expensive than the alternative I’m about to dive into.
2. BC Bitcoin
Another way that you can buy Vertcoin (VTC) in the UK is with BC Bitcoin.
Established in October 2017, BC Bitcoin is a UK-based cryptocurrency broker that allows you to buy and sell any cryptocurrency you want. The only exceptions to this are privacy-focused cryptocurrencies like Monero (XMR) and Zcash (ZEC).
BC Bitcoin supports a few payment methods, but your cheapest option is going to be a UK bank transfer. Because they support Faster Payments, your payment will usually be approved quickly.
When I checked, you couldn’t buy Vertcoin (VTC) through their web interface. This means you’ll have to contact them via their website, email, or over the phone to execute the order.
If you register with BC Bitcoin using this link, you’ll get access to exclusive discounted fees.
|Cryptocurrency||Exclusive QP Fees||Normal Fees|
This means you’ll be only paying 3% in fees to buy Vertcoin (VTC) through BC Bitcoin with a UK bank transfer. This discount doesn’t apply to purchases made with a credit or debit card, as I’ve been told the processing fees are significantly higher.
If you don’t register via quickpenguin.net, then you’ll pay an extra 2% in fees when buying Vertcoin (VTC) on BC Bitcoin with a UK bank transfer.
While it can work out more expensive than using Bittrex, the process of buying Vertcoin (VTC) using them is quicker, easier, and simpler.
What Is Vertcoin (VTC)?
Vertcoin (VTC) is an open-source proof-of-work (PoW) cryptocurrency that was created in January 2014.
It’s “built using Bitcoin as a base”. However, there are some critical differences:
- Faster block time (2.5 minutes).
- Frequent mining difficult adjustments (every block).
- Higher total supply (84 million coins).
- Different mining algorithm (Verthash).
The core thing that the Vertcoin (VTC) development team have committed to is long-term ASIC resistance. In short, this means that they want GPUs to remain a feasible option for mining Vertcoin (VTC). The aim of this is to ensure that the network remains decentralised.
To increase adoption, they’ve developed a simple one-click miner. If you have a graphics card and want to give it a shot, check out my guide here.
This has meant that multiple algorithm changes have been required since it was created. The most recent one occurred on the 30th January 2021 after ASIC miners began to dominate the hashrate.
The Vertcoin Hard Fork From Lyra2REv3 to Verthash was successful! Vertcoin would like to welcome miners to a brand new algorithm in the GPU Mining space.#Vertcoin $VTC #Verthash #GPU #Mining #cyrptocurrency #Crypto #cryptotwitter pic.twitter.com/d1V4i1Inah
— Vertcoin (@Vertcoin) January 30, 2021
Best Vertcoin (VTC) Wallets
The official Vertcoin (VTC) wallet can be downloaded to a Windows, Mac, or Linux computer.
Alternatively, check out Coinomi. This can be downloaded to a Windows, Mac, or Linux computer – as well as iOS and Android devices. It allows you to store Vertcoin (VTC) and more than 100 other cryptocurrencies.
It’s not mandatory, but hardware wallets remain well-recommended across the crypto-community. This is because they make it simpler and easier to securely store cryptocurrencies like Vertcoin (VTC).
But the downside?
Well, they’re not free. At the time of writing, the cheapest one which supports Vertcoin (VTC) is the Trezor One, which still costs about £43.
Vertcoin (VTC) can be stored on all four of these popular hardware wallets:
|Hardware Wallet||Cost (Approx.)||Full Review|
|Trezor Model T||£140||-|
|Ledger Nano S||£55||Review|
|Ledger Nano X||£109||Review|
I’ve tested each of these options and they’re all decent choices.
It really comes down to your budget, personal preference, and if there are specific cryptocurrencies you’re looking to store using it. For instance, Monero (XMR) isn’t something you can store using the Trezor One.
Thanks for checking out this guide about how to buy Vertcoin (VTC) in the UK!
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