11 rows · Dec 08, · Prime XBT is a popular Bitcoin-based cryptocurrency trading exchange that 5/5. Sep 29, · To buy Bitcoins in the UK, you need to have a proper bitcoin exchange market. The bitcoin UK market has some of the best exchanges for crypto conversion. However, there are certain regulations enforced by these exchange platforms to ensure quality trading services to its customers. The Bitcoin exchange regulations in the UK are quite liberal. 28 rows · Jan 02, · There are several ways to buy Bitcoin with cash in the UK, including the following: Use a peer-to-peer exchange to find a seller who accepts cash. Load a prepaid card with cash and then use it to buy Bitcoin on a platform that accepts prepaid cards, such as Bitit. Find a Bitcoin ATM and deposit cash, which can then be converted into BTC.
Best bitcoin trading ukBest Bitcoin Trading Platform UK - Cheapest Platform Revealed
Don't risk more money than you can afford to lose when you take a position. Placing stop loss orders which automatically close down your position when Bitcoin hits a particular value are an essential way to limit the risk that you face. Make sure that you're not being overcharged and that the trading platform on offer is to your liking.
As with any investment, the more you know about factors that will impact the price of Bitcoin, the more likely you are to profit. Say that a spread betting company is offering a bid price of 4, and and ask price of 4, I'm a big believer that traders should have access to markets they want to trade.
However, this market needs to be regulated. After all, people want to trade and they should be provided with a safe, secure and regulated environment to do it in. Anyway, if you are want to take on the massive risk of trading Crypto CFDs you can compare bitcoin CFD brokers here , but if you just want to know who has the tightest Bitcoin CFD spreads here is a quick comparison below:.
Read our ETX Capital review here. Read our Plus review here. Read our eToro Review here. To decide which broker is best for you check out all of our broker reviews.
The answer is, of course, yes and no. You can make money trading Bitcoin, if you buy low and sell high. Or, if you're a bear, sell high, buy low. The majority of people who trade highly volatile products like Forex tend to lose money. In fact, the recent regulatory changes have forced forex brokers to publicise the percentage of the clients that make money trading.
But just because most people lose money trading, it doesn't mean you will. But you probably will, especially if you are trying to make money trading Bitcoin, because unlike Forex trading , index trading or investing in the stock market , where the markets have fundamental value and are swayed by economic events, crypto trading is driven entirely by sentiment.
Which of course makes it harder to predict. And being such a volatile asset class means that crypto prices can move dramatically. But a crypto can double or half in the blink of an eye. So, if you do think you can make money trading Bitcoin, be prepared to lose all your money doing so Despite a global ban from Google on non-regualted brokers advertising derivatives products , they are still getting through.
Amazingly you see them in the header of the DailyMail and other mainstream media websites. What's shocking about this is that they all seem to point to the same scam and no-one has been able to shut it down yet? Martin Lewis, the money-saving-guru from Money Saving Expert, recently sued Facebook because they failed to stop scammers using his image in scam ads for get rich quick Bitcoin schemes.
The answer is of course yes. There are many traders who trade Bitcoin. Some do it through spread betting where profits are tax-free. They will not, I repeat not, be marketing their services as a get rich quick scheme. In fact they are not allowed to advertise at all.
Further reading: Should you enrol on a trading course to learn trade forex, spread betting or CFDs? We're already written about how not to get scammed in crypto trading so won't go into that again. But suffice to say, if it looks like a scam. It's a scam. Keep in mind too though that the scammers make clone websites, of real brokerages to scam you.
So, double and triple check any broker before sending money. You can compare FCA regulated Bitcoin trading brokers here. Never believe anyone who says they can make you rich or adopt trading as a career if you are a complete beginner. Trading CFDs and spread betting are high-risk forms of investment and should only really be used for hedging and a small percentage of a self-managed investment portfolio.
All content copyright Good Money Guide. VAT registration number: Data protection registration number: ZA Please Note: If you want to buy cryptocurrency rather than trade it you need a Cryptocurrency exchange like Revolut Featured Cryptocurrency Broker What Cryptocurrencies can you trade? How much does Crypto trading cost? Or get broad exposure in a single trade with our Crypto 10 index via CFDs or spread bets. Trade Bitcoin with min 30 point spreads. Overnight funding is charge on top as are fees for social trading.
Saxo has three pricing tiers. Pay less as you trade more. Bitcoin spreads from 40, Ethereum from 4 and Ripple from 1. No commission is charged. Overnight financing is charged on held positions. Coming Soon Open Account City Index claim to offer the lowest cost Cryptocurrency trading, with market-leading pricing on Bitcoin, Ethereum, Litecoin and Ripple.
Profits are tax free through spread bet trading on cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin. What's in this guide to Bitcoin trading brokers? How do you trade in Bitcoin? How Bitcoin trading works. How to get started. What to avoid. What to look for. A trading example. Who offers the tightest Bitcoin CFD spreads and pricing?
This is as close to a traditional index fund as you will get in the Bitcoin trading space — as the portfolio is weighted based on factors like market capitalization, coin value, and recent performance. Margin trading — otherwise referred to as leverage, allows you to trade with more money than you have in your account. Although the UK has technically left the EU, these rules still remain in place. This means that the most you can apply is major forex pairs , with other assets coming with lower limits.
In order to access these markets, you need to use a CFD broker. With that in mind, the only way that you will be able to engage with Bitcoin margin trading is to use an unregulated, offshore broker that offers crypto derivatives.
It will come as no surprise to hear that we strongly suggest avoiding such platforms, as your capital is at risk. After all, if the broker collapses — it will likely take your funds with it. There are many benefits — as well as risks, of using Bitcoin trading platforms to buy and sell crypto assets. The obvious starting point here is that Bitcoin — albeit, 12 years old, is still a new and exciting technology that is still well in its infancy. The underlying technology — the blockchain, can do things that we have never seen before.
In addition to the above, Bitcoin is decentralized. All in all, the above characteristics mean that by trading Bitcoin, you can enter the crypto market at a very early stage. This is no different from investing in top-rated internet stocks like Amazon back in the s. But of course, there is no guarantee that you will make money by trading Bitcoin, so do bear this in mind.
As we briefly covered earlier, the best UK Bitcoin trading platforms offer heaps of markets. This covers both crypto-to-fiat and crypto-cross pairs. This ensures that you can take full advantage of short-term price movements. For example, you might think that Bitcoin is undervalued against the British pound — and place a trade accordingly.
On another occasion, you might think that Bitcoin is underpriced against Ethereum. Whatever your prediction, Bitcoin trading platforms offer heaps of pairs and markets that you can access at the click of a button.
When you trade traditional assets like stocks and shares, you can only do so during standard market hours. As such, anything trades outside these hours must wait until the market reopens. However, Bitcoin trading platforms in the UK operate 24 hours per day, 7 days per week.
Sure, you might not have a requirement to buy and sell Bitcoin during the early hours of Sunday morning. But, knowing that the markets never close is a handy safeguard to have. After all, you might want to cash out your position instantly and not want to wait until Monday morning to be able to do so. Back in the early days of Bitcoin trading, volume was minute. This went from a few hundred dollars a day, to thousands, and eventually millions.
However, fast forward to , and Bitcoin trading platforms collectively see billions of pounds worth of activity each and every day. The best Bitcoin trading platforms in the UK allow you to get started with ease.
Best of all, you can trade Bitcoin with small amounts. This ensures that you can trade Bitcoin online without needing to risk large amounts of money. This means that you can speculate on the price of Bitcoin rising, as well as falling. However, there is a slight caveat to this benefit. This was the go-to avenue to short-sell cryptocurrencies like Bitcoin. The good news is that you can still short-sell Bitcoin if this is something you want to achieve.
This means that you will be trading Bitcoin against Tether — which is pegged to the US dollar. It goes without saying that any asset class can lose you money when trading it online. This is no different from trading Bitcoin. As such, you need to understand the financial risks involved.
As we cover shortly, you can mitigate these risks by deploying a sensible risk management strategy. Bitcoin is a new and often volatile digital currency — meaning that you stand the chance of losing more than you had hoped.
This is much more likely to happen than a blue-chip stock — so do bear this in mind. When you trade established, stable stocks — you will find that the spreads on offer are super competitive.
However, as Bitcoin trading platforms experience high levels of volatility throughout the day, this often results in wider spreads. For those unaware, this is the difference between the buy and sell price of Bitcoin.
The wider the spread, the more you indirectly pay in fees. For example, at eToro, while the spreads on major stocks average 0. Depending on which Bitcoin trading platform you sign up with, you might need to have an understanding of how crypto wallets work. This is because cryptocurrencies like Bitcoin are stored in a digital wallet on your desktop or mobile device. This means that you need to have an understanding of private keys, public addresses, and backup phrases.
This is because eToro will safeguard your digital coins in their own wallet. Trading Bitcoin and expecting to make a profit from day one is wishful thinking. After all, you need to understand what drives the price of Bitcoin and thus — how to capitalize from this.
To help you along the way, below we have listed some of the most utilized Bitcoin trading strategies. This entails buying Bitcoin and then holding on to the investment long-term.
This might be for several months or even years. The reason that this strategy is useful for newbies is that you do not need to worry about short-term volatility. This is a short-term approach to Bitcoin trading, as you will be looking to stay with wider trends.
For example, if Bitcoin is on a prolonged downward trend, then you will want to short-sell the digital currency. Skilled swing traders will look to keep this sell position open for as long as the Bitcoin trend is bearish.
When it appears the trend is coming to an end, the swing trader will exit the position. Then, if and when a new upward trend kicks in, the swing trader will once again capitalize. Only this time, with a buy order. Day trading is the process of buying and selling Bitcoin pairs throughout the day.
In fact, as most positions remain open for just minutes or hours, rarely do day trading keep an order open overnight. As you can imagine, keeping hold of a position for such a small amount of time will result in minute profit margins. However, it is important to remember that day traders will usually place heaps of trades every day — so these small profits can quickly add up.
Take note, day traders rely almost exclusively on technical indicators. As such, if you like the sound of day trading Bitcoin, you will need to understand how to read charts and perform in-depth analysis. Bitcoin and the wider cryptocurrency scene has been the victim of several wide-scale scams in the past.
This includes Ponzi Schemes, bogus funding raising projects, and exchange hacks. Plus, Bitcoin is often the preferred currency for criminals — due to its anonymous characteristics. With that being said, Bitcoin trading can be safe if you follow a crucial rule — only use regulated platforms. This means that the platform is required to keep your funds in segregated bank accounts, ID all account holders, and have its books regularly audited.
As such, by using regulated Bitcoin trading platforms in the UK, you can ensure that you are able to buy and sell cryptocurrencies safely. Irrespective of which of the above Bitcoin trading strategies you decide to deploy, it is crucial that you have a risk management plan in place.
As the name suggests, this will ensure that you are able to trade Bitcoin in a risk-averse manner. In its most basic form, you can achieve this goal by ensuring that you always set up stop-loss and take-profit orders on each trade. If so, we are now going to walk you through the process of getting set up with eToro. You will need to create an account by entering some personal information. This includes the basics — such as your name, home address, and date of birth.
You will also need to create a username and password. However, as this needs to be done before you are able to make a withdrawal out of your eToro account, we would suggest doing it now. In doing so, eToro should be able to verify your account instantly! Bank transfers are supported but this can take several days to process.
This will display each and every Bitcoin trading market available to you. However, as we noted earlier, newbies should probably stick with a traditional buy and sell strategy. This is where you will need to set up an order. If, however, you are looking to swing or day trade Bitcoin, you should also set up a stop-loss and take-profit order.
This will mitigate your risks in the event of short-term volatility. There are hundreds of Bitcoin trading platforms in the UK, so knowing which provider to trade with can be a time-consuming process.
After all, you need to check that the platform is regulated, that it offers your preferred payment method, and that it allows you to trade in a cost-effective manner. Taking all of this into account, our in-depth research process concluded that eToro is by far the best Bitcoin trading platform in the UK. The exchange rate of Bitcoin in the UK will change on a second-by-second basis - as per demand and supply of the wider marketplace. If you are using a regulated Bitcoin trading UK platform - which you should be, you won't be able to trade anonymously.
On the contrary, you will need to upload some ID before you can make a withdrawal. However, there are hundreds of Bitcoin trading UK platforms that allow you to remain anonymous, albeit, they are unregulated. Plus, you won't be able to deposit or withdraw funds with a traditional payment method - as only cryptocurrencies are supported!
This means that you can trade in a safe and secure manner. However, many platforms are not licensed by the FCA - or any regulator for that matter, so tread with caution. The only platform that we are aware of that accepts Paypal is eToro.
Up until January , you could have traded Bitcoin with leverage of This would have doubled your initial stake. However, the FCA has since banned crypto CFDs, so you won't be able to trade with leverage unless using an unregulated platform, which you shouldn't.
The minimum Bitcoin trade will vary from platform to platform. Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner.
Kane is also behind peer-reviewed publications - which includes an in-depth study into the relationship between money laundering and UK bookmakers. Kane Pepi. Visit eToro Now. Over 35 million customers and a great reputation Very user-friendly Deposit funds with a debit card or via bank transfer Ability to withdraw your coins out to a private wallet Handy mobile app Holds a license from the FCA. Visit Coinbase Now. Extremely high trading fees Minimal charting and trading tools.
Visit CoinCorner Now. Largest cryptocurrency exchange in terms of trading volume Hundreds of cryptocurrency pairs supported Trading commission of just 0. Visit Binance Now. Offers ready-made cryptocurrency portfolios Faster Payment bank transfers are free Relatively inexpensive fee structure Excellent cryptocurrency trading platform Regulated by Australian Transaction Reports and Analysis Centre. Visit Coinjar Now. High debit card fee Limited choice of coins.
Visit Luno Now. What is the Bitcoin exchange rate in the UK? How can I trade Bitcoin anonymously? Are Bitcoin trading UK platforms regulated?
Do Bitcoin trading platforms in the UK accept Paypal? Do UK Bitcoin trading platforms offer leverage? What is the minimum Bitcoin trade UK? All trading carries risk. Views expressed are those of the writers only.
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