Ziglu makes it easy to buy, sell, and hold cryptocurrencies like Bitcoin (BTC). It also has competitive fees: they’re just 1.25%.
However, you’re currently locked inside of Ziglu’s platform. You cannot send any cryptocurrency you buy to an external wallet. This really sucks.
Until they’ve added that functionality, I’m not going to be using it. Check out the link below for alternatives that support cryptocurrency deposits and withdrawals.
Ziglu is a UK-based cryptocurrency platform that launched in 2020 in the UK. It allows you to easily buy and sell Bitcoin (BTC) and other cryptocurrencies at competitive rates (1.25%).
That’s great, but there’s one huge downside: you cannot currently withdraw any cryptocurrency you buy on Ziglu. This is essential functionality that is missing from Ziglu’s crypto platform.
Read the full Ziglu review to find out more.
How Does Ziglu Work?
Ziglu is a cryptocurrency platform that launched on 15th June 2020. The company was founded by Mark Hipperson, who was previously a co-founder and CTO at Starling Bank.
To access Ziglu, you’ll need to download the app to your mobile device. It’s available on Apple and Android devices.
Registering an account and getting verified didn’t take long – it took me about 10 minutes. You then just need to deposit GBP into your account with a UK bank transfer. My deposit was credited within an hour.
Once you have GBP in your Ziglu account, it’s quick, easy, and simple to buy Bitcoin (BTC) or other supported cryptocurrencies. It’s probably one of the most user-friendly interfaces that I’ve used to buy Bitcoin (BTC) in the UK.
You can currently buy, sell, and hold 21 cryptocurrencies on Ziglu.
Note: Support for Ripple (XRP) was removed from Ziglu on the 12th January 2021.
Supported Fiat Currencies
Ziglu currently supports GBP, EUR, and USD.
In an article on CoinDesk, the founder said that they expected to roll out demand for more fiat currencies in the future.
FYI: You cannot receive money from outside of Ziglu into your EUR or USD accounts, or send money from these accounts to external accounts. See the FAQ at the bottom of this page for more details on that.
Ziglu is currently only available to residents in the United Kingdom.
Ziglu has competitive fees.
Regardless of what cryptocurrency you’re buying or selling, Ziglu’s fees are just 1.25%.
There’s nothing hidden in the exchange rate either – it’s the real market price.
It’s not the absolute cheapest way to buy Bitcoin (BTC) or other cryptocurrencies. However, I REALLY like that they’re transparent about what fee you’re being charged. Numerous alternatives don’t do this – which makes it hard to know if you’re getting a good deal.
Ziglu doesn’t currently support real cryptocurrency wallets.
- Send your cryptocurrency to an external crypto wallet.
- Receive any cryptocurrency from an external crypto wallet.
- Spend your cryptocurrency (it’s currently just a speculation vehicle).
Ziglu has confirmed that they want to eventually roll out this functionality, but there’s no ETA.
It’s nearly three years since this tweet and we still don’t have this functionality.
The Ziglu app also includes dedicated”Boost Accounts” which enable you to earn interest on your GBP or Bitcoin (BTC) funds.
You can currently get 2% APY on Bitcoin (BTC) stored in your Bitcoin Boost account and 5% APY on GBP stored in your Sterling Boost account. Interest is calculated every second and paid out weekly (on Saturday).
Your funds aren’t locked up, so you remove funds from these accounts at any time.
But FYI: Funds held inside a Bitcoin Boost account or Sterling Boost account are “outside of the usual protection” offered by Ziglu. See here and here for details.
Ziglu has also released a MasterCard debit card – the Ziglu Card.
Compared to other crypto debit cards, it doesn’t look that interesting. It just looks like a normal debit card that’s connected to your Ziglu GBP and EUR balances.
Notably, it gives you no cashback or other incentives.
In contrast, the CoinJar Card gives you 1% back in points that can be spent to pay for fee when buying or selling cryptocurrencies on its platform. This is also a “real” crypto debit card, which converts your cryptocurrency on-the-fly to cover your spending.
There’s not much on the front-end of their website about it (just this), but you can find out more in this help section. One notable thing that I picked out was that they’ll pass on the best exchange rate they’re able to (with 0% commission) when using it in other countries. Head here for more information on that.
Summary: A Promising Contender
I was hoping this would be the UK’s version of CashApp: a simple way for more people to buy and sell Bitcoin (BTC).
Right now, though, it feels a lot like Revolut’s in-app cryptocurrency exchange or PayPal’s cryptocurrency hub. It makes buying or selling cryptocurrency a breeze, but it doesn’t let you take control of your funds or use them. This is essential functionality that is missing.
While the future looks bright for Ziglu, I won’t be using it in its current state.
But if you’re after something which is just as quick, easy, and simple as Ziglu?
Check out alternatives like CoinJar or Luno. I like them both.
Anything to Add?
Thanks for reading this Ziglu review!
What do you think of Ziglu? Or do you have a question about it?
Let me know in the comments below!
4 thoughts on “Ziglu Review (2023)”
So if you were to buy a cryptocurrency and it triples in price for example, can you not convert the BTC back to GBP and withdraw it that way?
Yes – Ziglu allows you to sell any BTC you’ve bought using its app back to them for GBP (same fees). This GBP can then be withdrawn back to your UK bank account.
However, any BTC you buy using Ziglu is locked inside their closed ecosystem. This means you cannot withdraw the BTC from their app to an external wallet.
Please write an article about Coinpass. They look very promising!
Thanks for commenting, Susan!
I’ll check them out – little busy right now, but I’ll get to it 🙂 Cheers for letting me know!