How to Buy Bitcoin in the UK

Last updated: 5th July, 2018

As boundaries blur and the cryptocurrency sector gets more sophisticated, buying bitcoin in the UK is very similar to buying bitcoin in the US (see this article for a more detailed explanation of the process).

The market for bitcoin in British pounds is not one of the more liquid ones – according to CryptoCompare it usually ranks around the bottom of the top 10 most active markets in the world, well behind Korea, Vietnam, even Poland. However, UK residents wishing to actively trade or occasionally purchase some of the cryptocurrency have several reputable options to choose from.

Among the leading UK-registered exchanges are Coinfloor and CEX. Both require user identification, and are more tailored towards businesses and active traders while CoinCorner appears to be more geared towards the retail investor.

Other non-UK exchanges such as Coinroom (based in Poland) and Kraken (based in the US) can also exchange British pounds for bitcoin with reasonable liquidity.

If you're more interested in a marketplace, BitBargain and Bittylicious will put you in touch with a seller in the UK (although only online or mobile payments are accepted).

And if you really want to buy bitcoin with cash, LocalBitcoins is your best bet, or you can try to find a bitcoin ATM near you.

(Note: specific businesses mentioned here are not the only options available, and should not be taken as a recommendation.)

Authored by Noelle Acheson. British flag image via Shutterstock. Source coindesk

NEXT: HOW TO STORE YOUR BITCOIN


INDEX: A BEGINNERS GUIDE TO BITCOIN AND BLOCKCHAIN TECHNOLOGY



What is Bitcoin?
It's a decentralized digital currency


Why Use Bitcoin?
It's fast, cheap to use, and secure


How Can I Buy Bitcoin?
From an exchange or an individual


How to Buy Bitcoin in the UK
Buying bitcoin in the UK


How to Store Your Bitcoin
Use a digital or paper wallet


What Can You Buy with Bitcoin?
Spend your bitcoins


How to Sell Bitcoin
A guide on how to sell your bitcoins


How to Accept Bitcoin Payments for Your Store
Learn about bitcoin POS systems


How do Bitcoin Transactions Work?
Bitcoin addresses and private keys


Is Bitcoin Legal?
The current regulation around bitcoin


Who is Satoshi Nakamoto?
The founder of bitcoin


How Bitcoin Mining Works
By confirming transactions


How to Set Up a Bitcoin Miner
Generate bitcoins yourself


What are Bitcoin Mining Pools?
What are pools how and how to join them?


How Does Cloud Mining Bitcoin Work?
Alternative bitcoin mining solutions


How to Calculate Mining Profitability
Can you make a ROI?


How to Make a Paper Bitcoin Wallet
Creating an unhackable bitcoin wallet


Can Bitcoin Scale?
A look at the debate and the tech


What is SegWit?
A new way of storing transaction data


What is the Lightning Network?
Off-chain transaction channels


What is Bitcoin Cash?
Same blockchain, different characteristics.


Hard Fork vs Soft Fork
Why and how do blockchains split?


What is the Difference Between Litecoin and Bitcoin?
It's the silver to bitcoin's gold


How to Buy Litecoin
How to buy the bitcoin alternative litecoin


How to Mine Litecoin and other Altcoins
How to generate your own altcoins


Understanding Bitcoin Price Charts
A primer on bitcoin price charts


Bitcoin E-Commerce Services for Merchants
How to accept bitcoin at your business


What is Blockchain Technology?
A system of distributed data and logic


How Does Blockchain Technology Work?
Cryptographic keys, distributed networks and network servicing protocols


What Can a Blockchain Do?
Identity, recordkeeping, smart contracts and more


What is a Distributed Ledger?
A dynamic, independently maintained database


What is the Difference Between Public and Permissioned Blockchains?
Can anyone read or write to the ledger?


What is the Difference Between a Blockchain and a Database?
It begins with architectural and administrative decisions


What Are the Applications and Use Cases of Blockchains?
Tokenization, auditing, governance, settlement and more


How Could Blockchain Technology Change Finance?
Cross-border payments, new asset classes, regulatory compliance and more


What are Blockchain's Issues and Limitations?
Complexity, size, costs, speed, security, politics and more


Why Use a Blockchain?
To manage and secure digital relationships as part of a system of record


What is Ethereum?
A blockchain application platform and 'world computer'


What is Ether?
The 'fuel' of the ethereum network


How to Use Ethereum
Wallets, trading and ‘dapps’


Who Created Ethereum?
Vitalik Buterin


How Ethereum Mining Works
'Proof of Work' and 'Proof of Stake'


How to Mine Ethereum
GPUs, mining software and pools


How Ethereum Works
'Turing-complete' programming, 'state' and the 'EVM'


What is a Decentralized Application?
A distributed 'smart contract' system


What is a DAO?
A 'decentralized autonomous organization'


How Do Ethereum Smart Contracts Work?
Code, transaction fees and 'gas'


How Will Ethereum Scale?
‘Sharding’ and ‘off-chain’ transactions


What is an ICO?
Initial Coin Offerings refer to the distribution of digital tokens.

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