Compare the best UK Bitcoin brokers authorised and regulated by the FCA. Choose a bitcoin trading platform that offers the most markets, best pricing and client security. CFD, spread betting and trading Bitcoin on leverage carries a high level of risk and can result in losses that exceed your deposits. Born in , now Etoro is a leading broker which used to introduce Bitcoin trading in and added other cryptocurrencies in With its headquarters located in Israel, it serves residents of over countries including the UK, Australia, and other countries of Europe and other parts of the world. Jun 28, · How and where to buy bitcoin in the UK There are many ways of buying in to the bitcoin boom. Dominic Frisby looks at the most common, and explains exactly how to buy bitcoins in the 24crypto.de: Dominic Frisby.
Uk based bitcoin brokerBuy Bitcoin in the UK: 25+ best exchanges ( update) | Finder UK
The first stage of buying bitcoins is to get a bitcoin wallet. This is equivalent to your email address many people have more than one. You have to decide where to keep that wallet. You can use a provider simplest that's equivalent to using webmail, say, you can store the wallet on your own computer or, safest of all, on a hard drive which is not connected to the net. If you're a novice, it's probably best, while you educate yourself, to use a provider.
Once you get the hang of things you can look towards storing your bitcoins elsewhere. There are hundreds of different places to register for a bitcoin wallet. Perhaps the simplest place to start is with blockchain. Once you have a wallet, make a note of the address. Next, you've got to buy bitcoin. There are all sorts of ways to do this. You could go to a formal exchange or you could go down the peer-to-peer route. When you're starting out, I'd recommend the peer-to-peer route.
LocalBitcoins puts you touch with bitcoin buyers and sellers in your area. Buy your first bitcoins with cash, and you will have to meet with the seller. It's likely you'll get a free lesson out of it. There's also Bittylicious , where you can pay by bank transfer: you are given the bank details of the seller, you transfer the money to them, the bitcoins are transferred to you.
It's rough and ready but it works though, again, small amounts only while you're familiarising yourself with the tech. BitBargain and Coinfloor are other peer-to-peer dealers, though I stress I haven't used them. Bitbargain has a nice tutorial video on their site, which is worth watching.
Another option is to use a bitcoin ATM. There are now 72 in the UK. They're all over the shop in London, particularly around Shoreditch no surprise and Dalston, but also as far afield as Croydon and Ilford.
Deposit cash, put in your wallet address, receive coins. Believe it or not, I've never actually used one. There are also the exchanges.
These are more formal operations, and more geared towards larger purchases though you can make small purchases too. Some accept credit and debit cards; others only bank transfers. Opening an account tends to be rather onerous in terms of paperwork, such is the bureaucratic world in which we live, but that is a journey you must travel. A problem for UK exchanges has been trying to open a bank account and this regulatory hurdle has left the UK behind the curve as far as locals being able to buy bitcoins is concerned.
You'd think we'd be ahead of it, given all the noise George Osborne made about it a few years back when he was chancellor, but there you go. Many exchanges have had to use Eastern Bloc banks instead which has slowed things down. Bitcoin has hit a new record high — and this time the professionals are piling in too. Britain mulls a wealth tax again — can it ever work? Spread bets are similar except that you are placing a bet with a bookmaker. If you are buying Bitcoins then you will require a Bitcoin address.
This is a code to which the Bitcoins that you buy will be allocated. You can acquire an address by downloading a Bitcoin client to your computer or setting up an online wallet. Once you have your address you can purchase Bitcoins via an online exchange. If you are taking out a CFD or placing a spread bet then you'll need to do so via a broker that offers these services.
This will require you to open an account and deposit money. Many traditional foreign exchange brokers now offer the option to trade in Bitcoin. They also generally offer the option of leverage, which is betting using money loaned by the broker. When using CFDs or placing spread bets it is possible to lose more than your initial stake.
This will be amplified if you use leverage. 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.