Bitcoin (BTC) and Ethereum (ETH) physical tokens lying against a laptop screen

How to Sell Bitcoin in the UK (2020)

Looking to sell Bitcoin (BTC) in the UK?

There’s an ever-growing number of places that you can sell Bitcoin (BTC) in the UK. But they’re not all created equal. There can be a BIG difference in the fees that are charged across these websites.

So where can you sell Bitcoin (BTC) in the UK without getting ripped off?

In this post, I’ve ranked the best places where you can sell Bitcoin (BTC) in the UK.

Remember: I’m not a financial advisor. Check out my full disclaimer here.

Best Places to Sell Bitcoin (BTC) in the UK

1. Coinbase Pro [Cheapest Way to Sell Bitcoin]

Coinbase Pro was the first major Bitcoin (BTC) exchange to be granted an e-money license and support GBP withdrawals via the Faster Payments Service (FPS).

It’s a little bit more complicated that the other options mentioned in this list, but it’s the place where you can sell Bitcoin (BTC) in the UK at the best possible price. Fees are just 0.5% (plus a £1 GBP withdrawal fee) and there are no hidden fees in the BTC price that’s shown on their website. It’s the real BTC to GBP exchange rate.

Here’s what you’ll need to do:

  • Create a Coinbase account if you don’t have one. You’ll need to verify your identity and your UK bank account (which can take a few days).
  • Transfer your Bitcoin (BTC) into your Coinbase Pro wallet.
  • Sell your Bitcoin (BTC) on the BTC/GBP market using a market sell This will sell your Bitcoin (BTC) at the best possible market rate. It executes immediately and you’ll see your GBP balance change a few moments later.
  • Transfer your GBP from Coinbase Pro to Coinbase (this is instant).
  • Initiate a GBP withdrawal to your connected UK bank account on Coinbase. Your GBP will be deposited into your bank account a few hours after that.

If you want to take this route, head over to Coinbase now.

2. Wirex [Best Bitcoin Debit Card]

Wirex (Dark Green) Full LogoWirex is a crypto-friendly currency account which supports fiat currencies (e.g. GBP, EUR, USD) and cryptocurrencies (e.g. Bitcoin). They also provide the best bitcoin debit card that is currently available in the UK and Europe.

With Wirex, you can sell Bitcoin (BTC) in the UK at extremely competitive rates – it’s just a flat 1% when you exchange Bitcoin (BTC) for GBP. There are no hidden fees either, as they provide the real exchange rate. Wirex also has a simple interface which makes it easy to buy and sell cryptocurrencies.

You can withdraw GBP from Wirex via the Faster Payments Service (FPS), which means it’ll usually be in your bank account within a couple of hours.

Alternatively, you can leave your GBP in your Wirex account and spend the balance via their crypto debit card. It’s accepted anywhere a normal Visa debit card is (which is pretty much everywhere these days). This crypto debit card is free to order, but does incur a monthly management fee of £1.

Find out more in my full Wirex review, or head straight over to their website now.

3. Bittylicious [Quickest Way to Sell Bitcoin]

Trimmed Bittylicious Header

Bittylicious is a UK-based company that’s been around since 2013. They’re reputable and well-recommended, with a 5* Trustpilot rating (with more than 1000 reviews).

Their interface is a little dated, but it’s simple and easy to use (which is what matters). Although it does vary day-to-day, their fees are competitive too. They seem to be about 1%. This is baked into the Bitcoin (BTC) price you’ll be offered, so it’ll be slightly less than the real BTC to GBP exchange rate.

They support UK bank transfers via the Faster Payments Service (FPS). In most cases, you can sell your Bitcoin (BTC) and have it in your bank account just a couple of hours later.

Find out more in my full Bittylicious review, or head straight over to their website now.

Extra: Get a Hardware Wallet

Seriously consider getting a hardware wallet if you don’t already have one. I personally use a Ledger Nano S and I find it 100% worth the money. It supports all of the most popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), ERC-20 tokens, and more.

Check out my Ledger Nano S review to learn more.

Related Posts

Leave a Reply