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 2022?
Here’s a quick overview:
| Provider | Payment Method | Fees (Approx.) |
|---|---|---|
| BC Bitcoin | UK Bank Transfer | 5% |
| 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).
Although Bittylicious supports Vertcoin (VTC), I’ve not observed any sellers being available in the UK (at the time of writing).
There’s also Bitvavo, which has a VTC/EUR trading pair. To make use of this cryptocurrency exchange, you’d have to deposit EUR using a SEPA bank transfer.
A common method previously used by UK cryptocurrency users to cheaply deposit EUR onto cryptocurrency exchanges was:
- Download Revolut (a mobile banking app).
- Deposit GBP into your Revolut GBP wallet.
- Exchange GBP for EUR.
- Send EUR using a SEPA transfer to a cryptocurrency exchange.
- In a couple of working days, the EUR will be credited to your crypto exchange account.
The advantage of this method is that it used to be cheaper (and less of a faff) than using a normal UK bank account. However, Revolut’s free plans are less generous than they used to be.
Buy Vertcoin (VTC) in the UK
1. Bittrex
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.
Once you’ve got some Bitcoin (BTC), you need to send it over to Bittrex.
First up, you’ll need to login to Bittrex. If you’re not already registered, head over here to create one.
You’ll then need to send Bitcoin (BTC) to the receiving address provided by Bittrex.
You can find your Bittrex account’s Bitcoin (BTC) receiving address by:
- Selecting ‘Holdings’ in the navigation bar.
- Searching for “Bitcoin” in the search bar.
- Clicking ‘Deposit’ from the action menu on the right-side of the ‘Balances’ pane.
To monitor the progress of your (BTC) deposit, select ‘Holdings’ in the navigation bar on Bittrex and then click the ‘Deposits’ tab.
Depending on the transaction fee paid by the exchange you’ve used, this could take hours (or even days) to be approved by Bittrex.
Once your Bitcoin (BTC) deposit has been credited, you’ll be ready to (finally) buy Vertcoin (VTC).
To do this, head over to the VTC/BTC market. You can find this by selecting ‘Markets’ in the navigation bar, scrolling down to the bottom, and searching for VTC.
You’ll then see something like this.
If you trade less than $50,000 every month of Bittrex, you won’t receive any fee discount if you’re a market maker (0.2%).
If all you care about is buying Vertcoin (VTC) at the current market price, then you can just submit a market order – which is fulfilled instantly.
If you only want to buy Vertcoin (VTC) at a specific price (e.g., if it dipped in price), then you can submit a limit order.
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 acryptocurrency 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.
You’ll be charged 5% in fees to buy Vertcoin (VTC) through BC Bitcoin with a UK bank transfer.
While it’s more expensive than using Bittrex, the process of buying Vertcoin (VTC) using them is quicker, easier, and simpler.
BC Bitcoin ReviewFind Out More
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.
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.
Unfortunately, Exodus Wallet and Atomic Wallet are two popular multi-currency wallets which do NOT support Vertcoin (VTC).
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 One | £43 | Review |
| Trezor Model T | £140 | Review |
| 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.
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