Crypto Buying Guide UK – How to Buy Bitcoin and Other Cryptocurrencies in the UK

Even though the Financial Conduct Authority (FCA) warns people to treat crypto investments as high-risk, speculative investments and that they are unlikely to be covered by the Financial Services Compensation Scheme in the event of a loss, more than two million adults hold some sort of cryptocurrency. And with a little help, it’s relatively straightforward to buy Bitcoin and other cryptocurrencies in the UK.

Crypto Buying Guide UK is to set up an account on a regulated crypto exchange. There are many to choose from, such as eToro, Coinbase and Gemini. You should look for one that offers a simple interface for making trades and plenty of educational content to help you understand the market. You will also want to find out about the costs involved, such as transaction fees and deposit limits.

Crypto Buying Guide UK – Best Platforms and Wallets

Once you’ve set up your account, the next step is to deposit funds into it. This is usually done by linking a bank account or credit card, though this can vary between providers. Not all banks allow you to make transactions with a crypto exchange, and some (such as TSB, Virgin Money and Tesco) block them altogether.

Once you have deposited funds, the exchange will transfer them to your crypto wallet. You can then leave them on the exchange, which is secure and easy to monitor, or move them to a ‘hot’ or ‘cold’ wallet that’s separate from the exchange. You should always be aware that transferring your crypto to another exchange can incur additional transaction fees.