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By Dario
Last Updated: Mar 18, 2025
Co-author
By Shraddha
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Investing in Bitcoin for the first time can be daunting. Especially when coming across new terms like exchanges, wallets, and decentralization.
That said, when using the right platform, it takes minutes to enter the market. Many providers accept popular payment methods, such as debit cards and bank transfers. This makes the process seamless and safe. With over 680+ ETFs, 5,500+ stocks, and 100+ cryptocurrencies, eToro provides one of the most diverse asset selections for investors.
This guide helps beginners buy Bitcoin without needing prior experience. I cover everything there is to know, including the best places to invest, how to save on fees, and how to keep your coins safe. Read on to learn how to buy Bitcoin in the UK.
These steps will show you how to buy Bitcoin in the UK in under 10 minutes:
Bitcoin is a hugely popular asset; not just in the UK but globally. This means buying Bitcoin has never been easier. However, the challenging part is deciding where to buy crypto and invest.
Brokers, exchanges, and wallets are the most common options, especially when using GBP. Research is needed to determine fees, purchase minimums, accepted payment methods, and accessibility. This will help you choose the best provider.
Read on to discover the top places to buy Bitcoin in the UK.
The easiest option for beginners is to buy Bitcoin from a licensed broker. The process is almost identical to purchasing stocks from a share dealing platform.
Here’s why:
Bitcoin brokers not only accept convenient payment methods (e.g. UK debit cards) but they process transactions in GBP. Moreover, unlike Bitcoin exchanges, you won’t need to deal with other market participants. Instead, you’re buying Bitcoin directly from the broker, which sources coins from liquidity providers.
I found that eToro is the best option when using a Bitcoin broker. I explain why in the section below.
eToro was launched in 2007, making it more established than Bitcoin itself. It’s an FCA-regulated broker with a solid reputation; over 35 million people use eToro to trade. UK residents can deposit GBP instantly and without paying fees. This includes debit cards and e-wallets like Skrill and PayPal. The minimum deposit of $100 (about £76) is on the high side, as is the trading commission of 1%.
However, safety and security are assured, so it’s worth paying a premium for peace of mind. eToro also offers other popular crypto coins, including Dogecoin, Solana, and Ethereum. A copy trading feature is also available. This means you can replicate a successful eToro investor automatically. eToro is simple to use, even for beginners. No prior experience of buying and selling cryptocurrencies is needed; just search for Bitcoin, choose an amount, and confirm. Note that eToro’s features helped it end up at the top of the list of how to buy Ethereum in the UK as well.
Pros
Cons
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. 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
Crypto exchanges are another popular way to buy Bitcoin. In general, these exchanges specialize in ‘spot trading’. This simply means you’re exchanging one asset for another via orders.
You’ll be trading directly with other market participants, where orders are matched based on demand and supply.
Moreover, unlike brokers, most cryptocurrency exchanges are located outside the UK. They don’t have FCA approval, so caution is advised. However, with less regulatory demands, crypto exchanges offer lower trading commissions, more available markets, and often don’t require KYC.
Let’s take a closer look at the best crypto exchanges in the UK.
Margex is a great option for buying Bitcoin in small amounts. You can use Visa and MasterCard to invest instantly and the minimum purchase requirement is just £4. Based on current price quotes, a £4 investment will get you 0.00004803 BTC. Margex is also ideal for investing quickly without cumbersome KYC processes.
All that’s needed is an email address or mobile number when joining. Margex is also popular with long-term investors seeking regular interest payments. It offers 4% on Bitcoin deposits without any lock-up terms. Margex also offers Bitcoin futures with 100x leverage. Other supported coins include Ethereum, XRP, and Dogecoin.
Pros
Cons
MEXC is one of the most popular crypto exchanges globally. It boasts high liquidity, millions of active traders, and some of the lowest commissions available. MEXC charges just 0.02% per slide, so you’ll pay just £0.20 for every £1,000 traded. And, if you place limit orders (meaning you’re a ‘market maker), the commission is reduced to 0%.
Another benefit is that MEXC supports thousands of crypto coins, making it a great place to invest in crypto in the UK. This means you can buy Bitcoin and then diversify into other markets, such as meme coins and utility tokens. MEXC also supports instant purchases via Visa and MasterCard. Fees average 3-5% and they’re built into the quoted exchange rate.
Pros
Cons
You might also consider wallets when exploring where to buy Bitcoin. Crypto wallets enable investors to store Bitcoin and other crypto assets away from exchanges. They provide more control over crypto assets, allowing investors to send and receive funds.
Most wallets are non-custodial, meaning investors control their ‘private keys’ and ‘backup passphrases’. Put otherwise, investors control their Bitcoin without centralized oversight.
That said, some wallets are custodial, which means the provider is responsible for securing the funds. The private keys and backup passphrases aren’t shared with the investor, meaning an element of trust exists.
Either way, many wallets allow UK investors to buy Bitcoin with GBP, ensuring a convenient experience.
Here’s what you need to know about wallet private keys and backup passphrases:
Below, I cover the best wallet options for both custodial and non-custodial storage.
eToro Money Wallet is the best option for those preferring custodial storage, meaning you won’t need to worry about safeguarding private keys. After all, if you misplace the private keys, access to the wallet is often not possible. This isn’t an issue when using eToro. It keeps client-owned coins in cold storage, so the private keys aren’t exposed to online hacking attempts.
This is in addition to institutional-grade security, including machine learning algorithms. The eToro Money Wallet comes as a free mobile app and it enables users to store multiple crypto coins. Users can send and receive funds to and from other wallets and also purchase Bitcoin with GBP. Ultimately, it’s a user-friendly option that’s ideal for first-time investors.
Pros
Cons
An alternative option is Best Wallet , which I regard as the best non-custodial crypto wallet for 2025. Unlike the eToro Money Wallet, nobody but the user has access to the private keys and backup passphrases. Users take full control of the crypto coins via a mobile app, browser extension, or desktop software.
Not only does Best Wallet allow you to hold and trade Bitcoin, but it is also compatible with many other cryptocurrencies, which means it could be an all in one stop for all of your crypto needs. Best Wallet features very liquid markets for thousands of tokens on over 60 blockchains, including Bitcoin, Ethereum, Solana, Sui, Dogecoin, Uniswap, and many others.
When it comes to trading fees, Best Wallet charges none. The only fees you may encounter are blockchain fees. It’s important to note that Best Wallet is a non-custodial wallet, meaning your crypto will remain safe and in your hands.
Pros
Cons
Let’s take a look at another popular cryptocurrency exchange offering low fees and leverage up to 150x.
BloFin is one of the best crypto futures trading platforms. It’s a good option for traders with a higher risk tolerance. Bitcoin futures can be traded with 150x leverage. So, a £200 account balance could be amplified to £30,000. However, liquidation – meaning the trade is automatically closed, can happen if the futures position declines by a certain percentage.
That said, BloFin also offers spot trading markets. Hundreds of coins are available, including Dogecoin, Shiba Inu, Solana, and Ethereum. Users can also buy Bitcoin instantly with a debit card. BloFin is another no-KYC exchange on this list, meaning you can trade without providing personal data or a government-issued ID.
Pros
Cons
Peer-to-peer (P2P) exchanges connect buyers and sellers via escrow wallets. They’re a great way to buy Bitcoin with local payment methods directly from sellers.
Here’s how the investment process works:
I found that Bybit is one of the best P2P crypto exchanges, and I explain why in the following section:
Bybit is best known for its spot trading and crypto derivative markets, with over 1,500 coins supported. However, it’s also a solid choice for P2P trading; no fees are charged and multiple GBP payment types are accepted. This includes UK bank transfers, Revolut, Skrill, and Wise.
Buyers are protected by Bybit’s escrow wallet. This means the Bitcoin is funded and locked before the buyer sends funds. In addition to Bitcoin, the P2P service also supports Ethereum, Tether, and USD Coin. Any of these coins can be used to trade on the main Bybit exchange. What’s more, Bybit also supports Visa and MasterCard purchases via partnered fiat on-ramps.
Pros
Cons
I’ll now provide a comprehensive walkthrough on how to Bitcoin in the UK. I explain every step required, meaning my guide is ideal for first-time investors. This includes opening an account, completing KYC, depositing funds, and placing a Bitcoin order.
Do note that I’m using eToro for this tutorial. In my view, it’s the best place to buy Bitcoin, as it’s authorized and regulated by the FCA. What’s more, eToro was designed with newbies in mind, so the investment process takes minutes.
So, the first step is to visit the eToro website. Click ‘Sign Up’ and complete the account opening form.
This is similar to joining a stock broker; eToro requires:
You’ll also be asked some basic questions about your investing experience (this is an FCA requirement).
The next step is to complete the KYC process. This simply requires two documents:
Unlike traditional brokers, you won’t need to wait days or even hours for the documents to be verified. In most cases, eToro verifies them almost instantly.
So, you’ve opened an eToro account and completed the KYC verification process. Next, you’ll need to make a deposit. eToro accepts everything from Visa and MasterCard to Skrill and PayPal. The minimum deposit is just $100 (about £76).
However, those opting for a bank transfer must deposit at least $500 (about £380). Nevertheless, GBP payments are processed fee-free.
Simply choose your preferred payment method, type in the deposit size, and confirm.
eToro offers a range of analysis features; these are ideal for conducting independent research. My suggestion is to spend some time exploring Bitcoin metrics, such as pricing charts, past performance, recent trends, and volume.
It also offers social trading features. This means other eToro users share their investment thesis, which you can ‘like’ or reply to. This is a great way to evaluate broader market sentiment. eToro’s advanced filtering tools let you sort assets based on criteria like dividend yield, price changes, and sectors. The platform also integrates AI to provide insights into the top investors, daily movers, and trending stocks.
Once you’ve conducted research, assess how much you want to risk on Bitcoin. Do note that you can invest any amount from $10 (about £7). It’s wise to invest small amounts regularly rather than using your entire balance in one go.
Now you can proceed to buy Bitcoin. If you’re on the Bitcoin research page, just like ‘Buy’. Otherwise, search for ‘BTC’ and click the ‘Trade’ button.
Either way, you’ll now see the Bitcoin investment form. It’s simple to use; just type the investment amount (in USD). In my example, I’m meeting the $10 minimum.
Finally, click the ‘Buy’ button to complete your Bitcoin investment.
Now click the ‘Portfolio’ button from the left-hand dashboard. You’ll see the Bitcoin you just purchased, alongside the current market value.
Currently, the Bitcoin is being held in eToro’s custodial wallet, ensuring safety. If you’re happy keeping the coins there, nothing else needs to be done until you cash out.
But, if you want more control of your Bitcoin, you can withdraw the funds to a private wallet:
You can request a withdrawal via your eToro account.
Bitcoin is a cryptocurrency, also known as a digital asset. It’s backed by blockchain technology, which enables users to send and receive Bitcoin without centralized intermediaries. This is in contrast to traditional money, which must be transferred via banks, financial institutions, and other third parties.
This is why Bitcoin is called a decentralized asset and network, as no single authority has control. This means that when you buy Bitcoin and hold it in a non-custodial wallet, you have full ownership of the funds. Bitcoin transactions take about 10 minutes to confirm and fees amount to a couple of pounds at most.
While Bitcoin’s technology, decentralization, and limited supply are innovative, it’s largely used as an investment product. Anyone can buy Bitcoin and if its value increases, holders make money. This is no different from buying shares and other financial securities.
The checklist below is a must-read before buying Bitcoin in the UK:
I’ll now take a deeper dive into Bitcoin’s investment thesis. I’ll start with the investment potential and then move on to the key risks. Then, I’ll summarize the benefits and drawbacks, ensuring you can make an informed decision.
Note: I’ll discuss Bitcoin prices in USD, as this is the primary currency when trading digital assets (similar to commodities like gold and oil).
Bitcoin’s potential is all about market pricing. If the Bitcoin price increases, you will make money. Crucially, Bitcoin’s price trajectory has exploded since launching in 2009. It was originally worthless, considering nobody but the core Bitcoin developers knew about the project.
It wasn’t until 2011 that Bitcoin hit $1. In 2013, Bitcoin crossed the $100 level. As of 2025, Bitcoin’s all-time high is $74,000. So, had you invested in Bitcoin in 2013, your portfolio would be up almost 74,000%. These returns are unprecedented, especially when compared to traditional markets like shares and index funds.
According to some experts, the Bitcoin price is still worth a small fraction of its true potential. Some believe that Bitcoin will surpass $1 million by 2030. Others are even more bullish, with predictions of several million dollars. However, I must stress that predictions should be taken with a pinch of salt.
Bitcoin is still a nascent asset. Traditional investment markets have been around for many decades. And over a century in the case of shares. In contrast, Bitcoin has been trading for about 15 years. What’s more, only a small percentage of the global population owns Bitcoin, so whether it becomes a mainstream asset remains to be seen.
Similar price declines were seen after Bitcoin peaked at about $68,000 in late 2021. It traded below $17,000 a year later, so that’s another huge decrease in intrinsic value of about 75%. However, losses are only encountered if the Bitcoin is sold. Historically, those holding Bitcoin through bearish markets have eventually seen new all-time highs recorded.
Now let’s summarize Bitcoin’s benefits and drawbacks with some pros and cons:
Pros
Cons
These three tips will ensure a safe Bitcoin investing experience:
I’ve explained how to invest in Bitcoin in the UK via brokers, exchanges, wallets, and P2P marketplaces. There are, however, other ways to access this market:
Many offshore exchanges offer Bitcoin futures. These track the Bitcoin price in real-time and they support leverage, meaning you can trade with a lot more than you originally deposited.
PrimeXBT is a popular choice; it offers low trading commissions and leverage of up to 200x.
However, Bitcoin futures are high risk. Depending on how much leverage is used, the trade can be liquidated. For instance, 200x leverage only requires a 0.5% margin upfront (e.g. £100 > £20,000 = 0.5%). So, if the futures trade declines by 0.5%, it’s closed automatically. This means PrimeXBT keeps the original £100 margin.
Bitcoin exchange-traded funds (ETFs) are ideal for complete beginners. ETFs, which trade on stock exchanges, are offered by traditional brokers.
This means you can gain exposure to Bitcoin without using exchanges and wallets. The best Bitcoin ETFs are actually backed by Bitcoin. This ensures the ETF closely aligns with the Bitcoin spot price.
One of the most popular Bitcoin ETFs is the iShares Bitcoin Trust. You can invest in this ETF on eToro without paying any commissions.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. 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
In summary, buying Bitcoin in the UK doesn’t have to be daunting when you use the right platform. One of the top choices of crypto exchanges for beginners is eToro, which has a user-friendly website, low account minimums, and top-notch customer support. eToro also ensures safety; it’s authorized and regulated by the FCA. Of course there are quite a few other options for crypto exchanges for users in the UK, so make sure to choose the one that feels like the right fit for you.
However, it’s important to consider the risks before investing in Bitcoin or other crypto assets. They are highly volatile assets, so ensure you only risk amounts you’re comfortable losing. You might also consider diversifying your crypto holdings into other markets, with eToro also offering stocks, commodities, and ETFs. Not to mention over 100 other crypto assets.
After choosing a crypto exchange make sure you also find a good crypto wallet to pair it with.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. 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
See Also: What is KYC in Crypto and Why it is Used
Bitcoin was invented by ‘Satoshi Nakamoto’ in 2008. Nobody knows Nakamoto’s identity to this day.
Bitcoin investment amounts should align with your budget and risk tolerance. Most experts recommend limiting Bitcoin investments to 5% of the overall portfolio.
The easiest way to invest in Bitcoin is with a regulated broker that accepts debit/credit card payments. This allows you to buy Bitcoin instantly and securely.
Yes, Bitcoin (and all other cryptocurrencies) are legal in the UK. Residents can freely buy, sell, trade, and store Bitcoin.
The Bitcoin price rises and falls like any tradable market. You don’t need to buy 1 full Bitcoin, as fractional investments are supported.
Yes, Bitcoin is taxed in the UK, but only if you exceed your annual capital gains allowance. That’s £3,000 in the 2024/25 tax year.
One of the best Bitcoin wallets for beginners is the eToro Money Wallet, as eToro safeguards the coins. Alternatively, consider Exodus if you want full control of the wallet’s private keys.
Unlike traditional money, Bitcoin isn’t backed by any government or central bank, nor is it controlled by any single entity. This means people can buy and own Bitcoin away from centralized bodies.
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Dario is a blockchain enthusiast with a journey that started in 2016. Initially diving into dual mining ETH and Sia coin, he has since worked with top exchanges, market makers, and institutional clients, gaining invaluable insights into the blockchain ecosystem…. Read More
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How to Buy Bitcoin in the UK – Simple Guide for Beginners – 99Bitcoins
