If you had put money into Bitcoin before it was originally introduced in 2009, you might now have millions. This primer will help you get started with Bitcoin, the most talked-about cryptocurrency in the UK.
In addition, we cover how to use an FCA-regulated broker to acquire Bitcoin in the United Kingdom, however, we also go deeper into the inner workings of the Cryptocurrency market.
A Concise Guide to Purchasing Bitcoin in the U.K.
First, Sign Up For A Cryptocurrency Exchange.
You should start by signing up with a reliable and reputable cryptocurrency market like eToro.com.
The Second Step Is To Put Money In
To begin investing in Bitcoin using trading platforms, a minimum deposit of $10 is required, which is about the equivalent of £7. You may use a cash deposit, a credit or debit account, or an e-wallet based in the United Kingdom.
Third, Try To Locate Bitcoin.
To buy Bitcoin, type “BTC” into a search field, and then choose “Trade” from the results.
Fourth, Get Some Bitcoins In The UK.
Put your desired Bitcoin initial outlay (from $10 and higher) in the box labeled “Amount.” If you want to buy Bitcoin, click the “Start Transaction” option.
Participate In A Cryptocurrency Presale, Extra!
While holding Bitcoin is an option, the best method to quickly recoup your cryptocurrency investment is to take part in a top-tier presale.
Bitcoin Purchasing Options
Bitcoin may be acquired in the United Kingdom via several different channels. Before deciding on a method, think about the several possibilities we’ve outlined here.
Payment Processing For Bitcoin Purchases
Getting some Bitcoins should be your first order of business, and PayPal is a great way to do just that. You may make your Bitcoin purchases even more secure by using this electronic wallet instead of providing your debit or credit card details directly to a broker or exchange.
The 0.5% deposit charge is waived when you purchase Bitcoin using PayPal in the UK via eToro. Utilizing PayPal to purchase eToro has the bonus of being confirmed immediately.
You Can Now Use Your Credit or Debit Cards to Purchase Bitcoin
In the UK, Bitcoin may be purchased using a debit or credit card. Your trade will go through immediately, as well as based on the brokerage, you may not even have to put down any money.
When purchasing Bitcoin, though, the costs associated with using a credit or debit card may add up quickly. If you want to use Coinbase as an example, you’ll have to pay approximately 10%. Binance’s third-party affiliates charge a commission of up to 10% of the total quantity paid.
Buying Bitcoin using a debit card via eToro incurs a negligible 0.5% fee, making it a viable option for those concerned about the cost of cryptocurrency transactions.
Using a Money Service Provider to Obtain Bitcoin or Litecoin
The research team also discovered that eToro, a broker authorized by the Financial Conduct Authority (FCA), accepts immediate deposits through Neteller and Skrill. Then, with that money, you may purchase Bitcoin for as little as ten dollars.
Can You Tell Me the Surest Method to Acquire Bitcoin?
Since Bitcoin’s market capitalization has risen beyond £1 trillion, it’s no surprise that there are several possibilities for purchasing cryptocurrency in the United Kingdom.
Many British Bitcoin buyers utilize a centralized platform or brokerage, such as the-crypto-profit.com, when deciding where to make their Bitcoin purchases.
However, decentralized Trading platforms in the UK are gaining traction, so you may want to examine your choices before making a final decision.
The Secure Way to Invest in Bitcoin
Several methods exist that may help you invest in cryptocurrency safely, whether you’re looking to purchase Bitcoin in the UK or Dogecoin, or any other cryptocurrency.
First, if you’re going to buy Bitcoin in the UK, you should only do it via an FCA-licensed broker.
The Financial Conduct Authority (FCA) controls the UK’s financial services sector. This regulatory organization is responsible for ensuring that retail customers are handled properly by online brokers and that investors are provided with easily discernible risk disclosures.
Finally, while considering how to purchase Bitcoin in the UK, it is essential to remain with brokers that are licensed by the Financial Conduct Authority (FCA). You may rest easy knowing your Bitcoin transactions are being handled in an honest and above-board manner if you take these precautions.
Second, maintain small investment levels.
In the world of cryptocurrencies, the adage about not risking more than you can afford to lose rings especially true.
Third, ensure you are using a reliable Bitcoin wallet.
Wallet storage presents another major threat to the Bitcoin business. To the uninitiated, “wallets” are where digital currencies like Bitcoin or Litecoin are kept, and they might come in the form of a smartphone app, desktop software, or a physical device.
Conclusion
After reading this detailed tutorial, you’ll be prepared to make a risk-free investment in Bitcoin in the UK.
You are also aware of the costs and potential gains associated with purchasing Bitcoin, as well as the best Bitcoin brokers to use. Today, eToro is the best place to purchase Bitcoin in the UK because of its cheap costs and FCA regulation.
Broker eToro provides quick deposits from as little as $10 (approximately £7) with a debit/credit card or e-wallet, and account setup takes less than two minutes. Spread-only Bitcoin purchases in the UK may thereafter be made, with the minimum spread starting at 0.75%. Our greatest cryptocurrency pre-sales page is where you should go if you are looking for a high-risk, high-reward investment.