This article explains the 5 best ways to buy Bitcoin in the UK in different ways and using different payment methods. Here you will be able find out major payment methods to purchase Bitcoin such as Credit card, Debit card, Cash, PayPal, Skrill, Wire Transfer etc.
UK is normally a crypto-friendly region and has many exchanges at the home such as Cex.io which is major Fiat to Crypto exchange in the UK and there are many Bitcoin exchanges. So, picking the confidence and trusted exchange is a little bit confusing.
So, This article includes the 5 best ways to buy Bitcoin via many payment methods. Also, you have to consider the reputation, fees, trustworthiness, and many factors when picking a Bitcoin exchange for buying Bitcoin. Let’s dig into the 5 best ways to buy Bitcoin in the UK guide.
5 Best Ways to BUY Bitcoin in the UK
Cex.io is one of the first platforms to make fiat to crypto transactions accessible by offering card payments and bank transfers to customers, and currently offers a wide variety of trading tools for Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Tron, and others.
Apart from this, it has a series of really remarkable characteristics, among them are the following:
Great support section: If there are difficulties understanding how to do something in CEX.io, there is probably a page in the support section that explains it in great detail, otherwise the platform offers an easy-to-use email support form.
The exchange offers several different trading pairs and multiple fiat currencies to choose from, this means that you can buy and sell different cryptocurrencies with the currency of your choice.
Easy to use and navigate. Even advanced commercial windows are neat and clean. This makes browsing the CEX.io website pleasant and great for beginners.
CEX.io also accepts various payment methods to fund the account with these fiat currencies or cryptocurrencies:
Cex.io Fiat Payment Methods
- Faster Payments
Founded in 2012 by Brian Armstrong and Fred Ehrsam as part of Ycombinator, Coinbase is one of the oldest exchanges, it started out just as a Bitcoin brokerage service, but additional services were added along the way.
Coinbase can be used in many countries to conduct transactions such as sending, receiving or storing funds, however the platform’s buy and sell functions are only available in 32 developed countries around the world.
Unlike traditional cryptocurrency exchanges, Coinbase accepts a variety of fiat in exchange for the four digital currencies it offers, the currencies it accepts are EUR, GBP, and USD.
In addition to that, Coinbase also offers a good variety of payment methods to help its customers get their fiat money on the platform to buy crypto. These include bank transfer, debit/credit cards, PayPal, and even SEPA transfers for European citizens.
Among the payment methods, there is a variety available, some of them will be reflected here, however, they have a variety in terms of days for receipt and platform rates.
Coinbase Fiat Payment Methods
- Bank Account
- Debit card
- Credit card
- Wire transfer
Bittylicious is a UK based company in existence since 2013, with its registered office in London. The directors listed are Nicole Gera and Marc Warne.
In short, it acts as a marketplace that connects ordinary people looking to buy or sell cryptocurrencies with registered brokers who will sell or buy from these clients, although alternatives like Localbitcoins allow you to complete an exchange with anyone in a truly P2P way, you are restricted to trading with registered brokers on Bittylicious.
On the other hand, it also matches trades, without the need for you to be sending funds to them. Instead, it will deal directly with a broker that Bittylicious has verified.
However, not just anyone can become a Bittylicious broker as it requires an application process to establish legitimacy, this is all handled by Bittylicious, and as a regular customer this means you don’t have to worry about vetting the broker yourself or give your ID to several different people.
As Bittylicious does not host online wallets, you will need to have a Bitcoin (BTC) wallet setup to purchase through their website, and payment methods include the following
Bittylicious Fiat Payment Methods
- UK Bank Transfer (Faster Payments)
- SEPA Bank Transfer
- Credit & Debit Card
- Barclays PingIt
- RBS/Natwest PYC
LocalBitcoins is one of the oldest regulated peer-to-peer (P2P) online marketplaces for buying and selling Bitcoins (BTC) that works like Craigslist or eBay, by opening an account, you are verified and search for BTC merchants in your area.
Alternatively, one can create an ad on their own as it costs nothing unless they find a buyer, furthermore, LocalBitcoins offers the widest selection of payment options as well as a built-in escrow service for truly secure transactions with strangers.
Substantially, LocalBitcoins is a marketplace for people to post their offers to buy or sell Bitcoins, as a user, you create a post in which you specify the exchange rate, location, and preferred payment method for an exchange.
By posting an ad with its own terms and conditions. However, please note that you must be a verified user to be able to post. Furthermore, you must fund your LocalBitcoins wallet with at least 0.04 BTC for online payments.
If someone is interested in your publication, they will respond to you and both can agree to make a transaction through a bank transaction, a payment service or any other available method, among them, you can see the following
LocalBitcoins Fiat Payment Methods
- Bank wire transfer
- SEPA or national bank transfer
- Western Union
And many more options
5. Bitcoin ATMs
Similar to traditional ATMs, a Bitcoin ATM is a portal through which users can participate in a financial transaction, the difference here is that traditional ATMs allow users to withdraw and deposit cash, while ATMs Bitcoin allows users to buy and sell Bitcoin using cash.
In any case, some of the early versions of Bitcoin ATMs and most of those that are in operation today did not allow their users to sell Bitcoin as well, Coin Cloud ATMs allow users to buy Bitcoin with cash and sell Bitcoin for cash, safely and securely.
Bitcoin ATMs are composed of a monitor, a QR scanner, a bill acceptor and a dispenser. These components are linked through the software so that the buying and selling of Bitcoin is fast, easy and safe.
However, Bitcoin ATMs differ from traditional ATMs in that they are not connected to a bank account, and the different payment methods include the following
Bitcoin ATMs Fiat Payment Methods
- Debit and credit card
Conclusion – 5 Best Ways to BUY Bitcoin in the UK
In this article, you can find and learn 5 best ways to buy Bitcoin in the UK via the different fiat payment methods, and other than the describing Bitcoin buying methods each of the exchanges supported fiat payment gateways are listed.
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