How to buy Bitcoin in the UK

Bitcoin has fallen 0.54% from $64,431.51 over 24 hours. Learn how to buy Bitcoin.

Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Key takeaways

  • In March 2024, the price of Bitcoin hit a record high, topping $69,000.
  • The best and simplest way to buy crypto like Bitcoin in the UK is to use a cryptocurrency exchange.
  • You can choose how much Bitcoin to buy as an investment – it could be several Bitcoin down to a fraction (known as a Satoshi).
  • To invest, you’ll need to create an account on a crypto exchange, decide how much Bitcoin you want to buy, and then make a purchase.

2024 marks the 15th year of Bitcoin’s existence and what a journey it’s been! Despite numerous ups and downs, Bitcoin continues to stand tall, defying the naysayers and skeptics. If you’re reading this, chances are you’re ready to seize your piece of the Bitcoin pie or are at least seriously considering it. Here are the best ways to buy Bitcoin in the UK today.

Like all cryptoassets, it's highly volatile, and capable of major price swings in a single day. As of 15 April, BTC is trading for $64,086.00 (£51,531.55), a decrease of 0.54% against $64,431.51 a day earlier. Over the past year, Bitcoin's price has seen a barnstorming increase of 110.90%.

How to buy Bitcoin in 4 steps

  1. Compare crypto exchanges
    The first step to buying Bitcoin is to choose a crypto exchange from the dozens of options available in the market. Comparing in the table below helps you find one with the features you want, whether it's low fees, ease of use, or 24-hour customer support.
  2. Create an account
    After selecting an exchange, the next step is to sign up for an account. This involves providing some personal information like your name, email address, and identity verification documents, such as your driving license or passport. Have these details and documents at hand to speed up the registration process.
  3. Deposit funds
    To buy Bitcoin, you'll need to deposit funds into your account. Exchanges offer a variety of deposit methods, including bank transfers, credit and debit cards, and even third-party payment solutions like PayPal.
  4. Buy Bitcoin
    With your account funded, you're all set to buy Bitcoin. On user-friendly exchanges, this is as simple as entering the amount you want to purchase and clicking "Buy". If you like, you can transfer your Bitcoin to your personal wallet after purchase.

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

Best for beginners

Go to site
Capital at risk. T&Cs apply.

  • Copy trading features
  • Well-trusted exchange
  • FCA registered

Best for overall exchange

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Capital at risk. T&Cs apply.

  • Large selection of cryptocurrencies
  • Low fees for active traders
  • Pleasant UI for new traders

Best for debit card

Go to site
Capital at risk. T&Cs apply.

  • No fiat deposit/withdrawal fees
  • Expansive list of digital assets
  • Available in 184+ countries

Where to buy Bitcoin

Find an exchange to buy, sell and trade Bitcoin by comparing deposit methods, supported fiat currencies and fees. Select "Go to site" to sign up directly with the exchange.

1 - 5 of 6
Name Product Finder score FCA-registered Minimum deposit Cryptocurrencies Offer
eToro UK Cryptoasset Investing
Finder score
★★★★★
$50

76

Kraken Cryptocurrency Exchange
Finder score
★★★★★
£1

229

Uphold - Digital Asset Platform
Finder score
★★★★★
£10

214

CoinJar Cryptocurrency Exchange
Finder score
★★★★★
£10

63

Coinpass Cryptocurrency Exchange
Not rated yet
£10

13

Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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These exchanges cover a wide range of cryptocurrencies, but we can’t guarantee they’ll all offer this coin.

Alternative ways to buy bitcoin

Other than crypto exchanges, you can also buy Bitcoin using:

  • Traditional brokerages like eToro.
  • Banking and financial apps like Revolut.

What are the fees to buy Bitcoin?

The types and amount of fees to pay when buying Bitcoin vary across different platforms. Here are the common charges:

  • Deposit fee. Depending on the method used, you may have to pay a fee for depositing funds into your account. Bank transfers are typically free on most exchanges, whereas paying with a credit card usually incurs a fee.
  • Exchange fee. Most exchanges impose either a percentage-based or flat fee for each transaction carried out on their platform. The exact amount is unique to each platform.
  • Network fees. Transactions on the Bitcoin blockchain itself also carry a fee. This is a separate cost from those imposed by the exchange.
  • Withdrawal fee. Transferring Bitcoin from a crypto exchange to your wallet or another exchange can also incur a fee.

What is the safest way to store Bitcoin?

Cold wallets

This type of wallet isn’t connected to the internet, which prevents illegal or unauthorised access to your portfolio via online hacking.

Cold wallets include:
  • Hardware wallets. This type of wallet stores private keys (essential information needed to access your crypto and transfer them on the blockchain) on physical devices like USB thumb drives.
  • Paper wallets. This entails printing out private keys on paper.
Be careful when using cold wallets, however, if you misplace or forget your private keys, you may permanently lose access to your Bitcoin.

Hot wallets

You can also store your Bitcoin in a hot wallet. This type of wallet keeps your private keys online. You can access your Bitcoin from anywhere in the world as long as you have an internet connection. But while many hot wallets are quite secure, their online nature means they still carry some risk of unauthorised access and theft.

Is it legal to buy Bitcoin in the UK?

Yes, it’s perfectly legal to buy and hold Bitcoin in the UK. But note that cryptocurrencies are not officially recognised as legal tender.

Additionally, HMRC considers cryptocurrencies to be taxable assets, meaning they are subject to either income tax or capital gains tax (CGT), depending on how you transact with them. For example, if you buy Bitcoin, hold it, and then sell it later on for a profit, you could be liable for CGT if the gains exceed your annual allowance.

How much should I invest in Bitcoin to start with?

Whether a beginner or an experienced investor, the golden rule is to invest only an amount you can afford to lose.

Bitcoin, like many other crypto assets, is highly volatile and unpredictable. While it carries a substantial profit potential, so is the potential for loss.

Can I buy a fraction of a Bitcoin?

Purchasing an entire Bitcoin is likely to be financially impractical for many due to its market price. Not to mention the enormous risks of investing so much money in such a volatile asset.

The good news is that Bitcoin is divisible. This means you can buy fractions of the asset, allowing you to tailor your total investment to your budget, investment strategy, and risk tolerance.

Is it a good time to buy Bitcoin?

Only you can make the decision about when is the best time to buy Bitcoin. However, here are some things to consider as part of your research.

Take a look at the fundamentals of Bitcoin. What type of coin is it? Utility, payment or governance token etc? How large is its market cap? How many coins are in circulation? All this will help you to understand how Bitcoin works and how much risk is involved.

Also consider how has performed so far. Our charts below show you Bitcoin's performance over time as well as its all time high.

Recent Bitcoin developments

2 November, 2023: Bitcoin rose by 22% in October as a result of rumours that a spot Bitcoin ETF was due to be approved in the US.
3 October, 2023: The Bitcoin network is facing congestion issues due to the popularity of Ordinals, which are a way of tokenising assets on the Bitcoin network. Bitcoin reached a peak of 700,00 unconfirmed transactions on September 6, and has no dropped to 40,000 a the time of writing.
1 September, 2023: A court ruling in favor of Grayscale allows its Bitcoin Trust to convert into an ETF, creating a new opportunity for a Bitcoin spot ETF in the US.

Where could Bitcoin's price be heading?

Bitcoin's price is expected to rise to US$87,125 by year-end 2025, according to the average prediction from Finder's panel of fintech specialists. Panelists also predict that BTC will hit US$220,708 by 2030.

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Bitcoin to USD and GBP calculator

Our calculator works out how much Bitcoin would be worth in USD and GBP, depending on how much you hold or are looking to purchase.

BTC price last updated 15 April 2024, 04:04 UTC.

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*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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