Best Cryptocurrency Exchange

5 “Best” Exchanges to Buy Bitcoin in the UK (2022)

5 "Best" Exchanges to Buy Bitcoin in the UK (2022)
Written by publisher team

If you are a UK trader and have not yet taken part in this procedure, then you have no doubt been wondering how to buy Bitcoin in the UK recently. With the experience of Bitcoin and the broader crypto market being very positive lately, there are more and more people looking for the best places to buy.

Here we will review everything you need to know. This can be applied whether you are new to the sector or an experienced trader and they cover some of the best services for buying bitcoin in the UK. Along with our top 5 charts, we’ll also give you a closer look at things to think about before choosing a service, and the taxes and regulations surrounding bitcoin in the UK.

Points to consider before buying Bitcoin in the UK

It is always helpful to have as much knowledge as possible about the environment you are entering before you actually start trading. Especially if you are new to buying bitcoin, here are some important considerations to consider before deciding on the best service for you:

Safe trading environment: Trust and reputation are of paramount importance here. You’ll want to make sure not only that the service you choose to spend your money with follows any local regulations (UK crypto regulations mentioned at the bottom of the article), but is also as safe as possible in terms of trading, its regulations and overall transparency of your money.

Commissions and Fees: While all of the services we offer usually have excellent value fees, it is always a good idea to dig deeper to make sure you get the best deal possible given your payment methods and the purchase volume you choose.

Trading Features: Depending on your level of experience, you will undoubtedly be looking for different features from a broker or service. At the entry level, you can prioritize usability while at higher levels you look for more unique features.

Best UK Brokers to Buy Bitcoin (BTC) and Other Cryptocurrencies

Launched in 2014, BitPanda has quickly established a name and a positive reputation for being a great place to easily buy and sell bitcoin in the UK. Since that time, they have built their stellar reputation to rapidly expand to where they now offer trading in a wide range of cryptocurrencies along with the ability to purchase precious metals and a host of other services.

In total, they offer nearly 50 cryptocurrencies that you can choose from. This puts them in a good place within the sector especially among the brokers who make it easy to buy cryptocurrencies instantly. This domain includes BEST, a native token launched by BitPanda themselves.

On BitPanda you will also find: Cardano (ADA), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Waves (WAVES), Dai (DAI), Nano (NANO), Stellar Lumens (XLM), Tron (TRX), Chainlink (LINK) and Bittorent (BTT) and more than 50 other popular cryptocurrencies.

Read our BitPanda review or visit BitPanda.

Founded by Changpeng Zhao in 2017, Binance has become one of the most popular cryptocurrency exchange platforms in the world. It is regulated in Malta and trusted by traders around the world on a daily basis with a huge volume of transactions.

As they continue to develop their offering to meet the needs of traders, you can now buy Bitcoin in the UK instantly and directly from Binance using a credit or debit card or a number of other secure payment methods. You will find that the fees for this style of cryptocurrency buying are slightly higher than the industry-leading exchange fees, but they are still among the best in terms of value. You can expect a transaction fee of 1.5%-3.5% depending on the payment method you use.

Binance’s registration and verification process is also one of the fastest and most convenient in this sector. Within a few minutes the required documents can be uploaded electronically and automatically verified to start trading. As one of the biggest names around, you can look forward to not only buying Bitcoin but also hundreds of other cryptocurrencies in an ever-growing pool. Their very popular Binance coin (BNB) is also being offered.

On Binance you will also find: 200+ cryptocurrencies including major cryptocurrencies and altcoins with more coming all the time.

Feel free to check out our full Binance review, or head over to the Binance platform to sign up. Use the discount code: EE59L0QP to claim a 10% cashback on trading fees.

Paybis is an excellent option if you are looking to buy Bitcoin in the UK or some of the many other cryptocurrencies they have available. Since they started in 2014, they have steadily built a solid reputation and are now the choice of many for their convenient Bitcoin purchases by credit or debit card.

As it simply facilitates your transaction, you will need another external wallet for storage but the whole process can be completed very quickly with instructions available at every point. Paybis also takes security very seriously and for this purpose implement strict security measures and follow all required KYC and AML checks.

When it comes to fees and charges, Paybis remains a good value compared to the rest of the industry and you’ll find fees from its lowest point of 1.5% if you make a SEPA transfer, even credit and debit card transaction fees starting at 6.99%.

For this you will not only get a well-known broker that offers services in the UK, but all over the world in more than 100 other countries. If you are new to this field, Paybis may also be an ideal choice as they offer a customized set of educational content that can help you develop at no additional cost.

On Paybis you will also find: Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Stellar Lumens (XLM), Tether (USDT), Binance (BNB), Neo (NEO), Tron (TRX).

You can find more information in our Paybis review, or go to Paybis now to register and make your purchase.

Uphold – Regarded as one of the UK’s top exchanges, Uphold is a very experienced and innovative trading platform that should be able to meet your needs for trading across a number of cryptocurrencies including Bitcoin (BTC). In addition to the ease of use and innovative features within the trading platform, what stands out about the company is the credibility it has earned in the industry.

They provide a very easy-to-use desktop and mobile app trading experience. The trading view is fully customizable with the assets you trade most often and has easy navigation and a modern feel on both desktop and mobile. It is a very popular and convenient option, especially for new traders.

Besides being clearly attractive, Uphold trading platform allows you to place your trades with great ease. Just a few clicks and you can make trades directly from your deposit method without having to wait for funds to be cleared to your account. This one-step application is another innovation from the company that prides itself on the usability of its platform. They have also added the ability to execute limit orders.

Read our Uphold review or visit Uphold.

Disclaimer endorsement: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of your capital. Crypto assets are largely unregulated and therefore unprotected.

Wirex is a UK-based crypto wallet and payment service that also includes an exchange that is one of the best places to buy Bitcoin in the UK. Not only Bitcoin but the company supports many other cryptocurrencies and other base currencies for you to pay. It has been in operation since 2014 and is now one of the most used services in the world with availability in more than 100 countries, its secure Visa & Mastercard, and more than 3 million users worldwide.

In addition, you will find a very well regulated business and one of the only crypto-related services to be regulated by the Financial Conduct Authority (FCA) with an e-money license. They also take your security seriously with 99% of assets in cold storage and using multi-signature wallet technology. You will not find a safer place to buy or store your bitcoins.

They run a largely fee-free environment where the only cost you will find is a 1% fee for depositing and top-up your account. With support for the British pound and more than 20 other fiat currencies to make your purchase, Wirex is a reliable and easy-to-use option with an app available on Android or iOS devices and their contactless card works in more than 54 million locations worldwide so you can also pay Using Bitcoin and a number of other cryptocurrencies.

In Wirex you will also find: Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Waves (WAVES), Dai (DAI), Nano (NANO), Stellar Lumens (XLM), and Wirex Token (WXT).

For more, you can visit the Wirex Review or go straight to Wirex to get started today.

UK Bitcoin Regulations

After the UK’s exit from the European Union in particular, the question is Bitcoin legal in the UK? became more common.

Bitcoin and cryptocurrencies, in general, are legal to buy, sell and trade in the UK although there are certain rules in place from the UK Financial Conduct Authority and others.

These rules mainly focus on the case of cryptocurrency in the UK where it is not classified as legal tender with the majority of currencies not classified as eMoney or security.

Regulators have put in place KYC and anti-money laundering checks in the UK which includes the need to show identification with a real photo and proof of address for trading although this is standard practice in many places.

The only meaningful restriction for cryptocurrencies in the UK is the ban on trading crypto-derivatives. This means no UK cryptocurrency futures are traded.

UK tax on cryptocurrency

Aside from not being considered a form of money in the UK, your crypto winnings on the majority of cryptocurrencies including bitcoin are still taxable by HMRC in the UK.

Tax is applied to your earnings at a lower rate of 10% with a move to a higher rate of 20% if your personal earnings are above £50,001. You have a tax exemption of £12,300 but all earnings over this point are taxable.

We are not tax advisors. Tax regulations are always evolving. It is important that you do your due diligence and speak with a qualified tax advisor about tax-related matters.

About the author

publisher team