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
Coinbase was the first major Bitcoin (BTC) exchange to be granted an e-money license and support GBP withdrawals via the Faster Payments Service (FPS). In 2023, one of the best ways to sell Bitcoin (BTC) in the UK is through its Advanced Trade interface.
This is for a few reasons:
- Maximum trading fees are 0.6%. These fees are volume-based, so you can unlock lower trading fees than this if you’re selling a lot.
- There are no hidden fees in the exchange rate (i.e., it’s the real exchange rate). Alternatives might inflate this exchange rate, yet advertise themselves as low-fee.
- There’s no fee charged when withdrawing GBP using a UK bank transfer (FPS).
- GBP withdrawals via a UK bank transfer (FPS) to a confirmed account typically arrive within minutes.
The downside? This is a cryptocurrency exchange aimed at professionals and enthusiasts.
Beginners might find it a little bit overwhelming at first – as you’re given a lot more information to digest and options to use than if you just used Coinbase’s Simple interface (which is the default experience).
However, I’ve found that using an exchange like this is worth the extra bit of effort to sell Bitcoin (BTC) at the best exchange rates without paying high fees.
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.
- Transfer your Bitcoin (BTC) into your Coinbase wallet.
- Sell your Bitcoin (BTC) on the BTC-GBP market. This will immediately sell your Bitcoin (BTC) at the best possible market rate.
- Initiate a GBP withdrawal to your connected UK bank account. Your GBP will usually hit your bank account within minutes (if not instantly).
Coinbase WebsiteCoinbase Review
Founded in 2013, CoinJar is an established cryptocurrency platform that is registered with the FCA as a cryptoasset business. They also provide one of the best bitcoin debit cards that is currently available in the UK.
There are two ways you can sell Bitcoin (BTC) for GBP through CoinJar:
- Standard Interface: Provides a user-friendly web and mobile interface where you can buy and sell Bitcoin (BTC) and other cryptocurrencies.
- CoinJar Exchange: This is similar to Coinbase’s Advanced Trade interface, but has maximum trading fees of just 0.1%.
Historically, the common theme across cryptocurrency platforms I’ve reviewed is that there’s a tradeoff between how simple it is to use and the fees you’re charged. CoinJar is one of the few that doesn’t follow that trend.
When using it’s default dashboard, you’ll be charged a fixed 1% fee to sell any amount of Bitcoin (BTC) or another cryptocurrency. There are no withdrawal fees either. Withdrawals of GBP via a UK bank transfer (FPS) are quick too.
But if you want to pay the lowest possible fees, you could use CoinJar Exchange. This is similar to other cryptocurrency exchanges, except the fees are lower than most alternatives (max 0.1%). That’s an attractive rate, but it’ll likely be a bit overwhelming if you’ve never used something like it before.
Wirex is a crypto-friendly currency account which supports fiat currencies (e.g., GBP, EUR, USD) and cryptocurrencies (e.g., Bitcoin).
Unfortunately, the fees you’re charged aren’t as great as they used to be.
In 2023, Wirex charges a flat 1% fee when you exchange Bitcoin (BTC) for GBP. However, there’s also a hidden fee in the exchange rate of between 1% and 1.5%. In total, that means you could pay up to 2.5% in fees on Wirex.
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).
Bittylicious is a company that’s been around since 2013. It used to have registered offices in the UK, but they moved over to the Isle of Man at the start of 2021.
They’re reputable and well-recommended, with a 4.9* Trustpilot rating (with more than 1200 reviews). And when I checked recently, they were a top-rated Cryptocurrency Service’ company on Trustpilot!
Their interface is a little dated though, and there’s no mobile app available.
And although it does vary day-to-day, you’ll usually find that the fees are between about 2% and 3%. 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.
Bittylicious ReviewBittylicious Website
Extra: Best Hardware Wallets
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), Monero (XMR), Tether (USDT), and more.
Check out my Ledger Nano S review to learn more.
Thanks For Reading
Thanks for checking out this guide about how to sell Bitcoin (BTC) in the UK.
Have some questions? Or want to share your favourite place to trade Bitcoin (BTC)?
Let me know in the comments below!
2 thoughts on “How to Sell Bitcoin in the UK (2023)”
All this info is great! My question is will my bank ban or block me for withdrawing GBP to my account? I’m with HSBC, that’s a big no no as of 2021. What bank will let me pocket my crypto investment?
Thanks for commenting, Yasin!
This isn’t as clear cut as anyone would like. If you go through some of the threads in /r/BitcoinUK or jump into some of the UK discords/telegrams, you’ll find lots of conflicting information. In short, people at the same bank can have vastly different experiences. However, you’re right to single out HSBC – as that’s one place that people have consistently reported issues with.
I’ve continued to use Revolut to transfer into and out of cryptocurrency exchanges, but it doesn’t support deposits/withdrawals from everywhere. I’ve also read lots of good things about Barclays. But keep in mind: if you open either of these accounts and immediately start moving lots of money into/out of cryptocurrency exchanges, then you might have issues (this depends on the amounts, though).
I’ve got a post about this in the pipeline, so check back next month for more information. It’s quite a messy area, so it’s taking me a while to write-up.