How to Buy Bitcoin in the UK

The bitcoin crypto currency has grown to be enormously popular during the last several months and the demand keeps on growing. There are several possible ways to acquire the virtual money – the potential buyer only needs to figure the optimal way to do it – online through an exchange, via marketplace or in person from the local sellers. Some countries, like the UK for example, still do not have their own country based bitcoin exchange; therefore the UK investors need to find alternative ways to purchase the digital cash.

Buy In Person from another User
Acquiring bitcoins for cash is the most straightforward form of trade: you meet the seller in a chosen location, pay cash and receive the appropriate amount of bitcoins into your digital wallet or in form of metal coins. This type of personal encounter provides the highest level of privacy; however, you should follow some basic safety rules. For example, it is recommended to meet in a public place with cameras and security. Also, check up on your potential seller’s reputation and reliability: many websites nowadays offer activity tracking record and users’ feedback system to rate each participant accordingly. Though some buyers may prefer receiving the bitcoins in coins rather than electronic currency.

Buy Online Using Marketplace Websites
There are several well-known online marketplaces that allow trading bitcoins in specific areas. Bitbargain, for example, is a platform for an instant exchange of bitcoins within the UK. Localbitcoin is another marketplace covering a wider area and letting you set the desired country or the city of operation. Transactions are completed quickly and securely; each seller and buyer is encouraged to have a high reputation score, verified phone number and positive feedback score. Besides, these websites provide clear instructions regarding the form of payment; they show the bitcoin rate of the day and you can also see which buyers and sellers are currently online. Buying and selling Bitcoins on these 2 site is between private parties also called OTC trading, you might expect to pay between 5-10% over the “wholesale” bitcoin price from larger exchanges. The main advantage of Localbitcoins is the speed, some transactions are completed in minutes.

Buy Bitcoin Within The EU With a SEPA Bank Transfer
Another well accepted form of purchasing bitcoins within the European Union is by using SEPA wire transfer. SEPA stands for Single Euro Payments Area and is a domestic payment market. Being highly convenient for cash deposits and internet banking transfers with SEPA you may complete cross-border transactions across the Eurozone with low fees (within the EURO zone) . Be aware that UK banks are charging SEPA wire at higher rates than the continent counterparts. The advantage of SEPA is that the wires are quite fast and they should be completed within 1 or 2 working days.

Despite the fact that there is no home-based BTC exchange in the UK at the moment, its investors and citizens have multiple ways to acquire the virtual currency without high premiums. Bitcoin trusted marketplace platforms and European exchanges allow making purchases quickly and efficiently.

Other Articles

What Are Bitcoin Transaction Fees?

A Bitcoin transaction fee usually refers to the amount of Bitcoin that we pay to miners when we transfer to another bitcoin address. Transaction fees

What is a Bitcoin Wallet?

Welcome to Part 2 of our Beginners Series!  In Part 1, we answered the question: What is Bitcoin? Well, if you’re reading this then you

What IS Bitcoin?

Welcome to the first part of our Bitcoin Learner Series. In this series, we’ll cover many topics right from Bitcoin beginner basics, through to more

Our Feedback

Laura Gómez Fernandez
Laura Gómez Fernandez
2021-09-05
Feels like magic, my transaction wouldn’t get confirmed for days so I tried the premium feature. I was not sure if it would help, but just a few minutes ago I got an email from BTC Nitro saying that it was already confirmed! Thank you so much!!
Baurumtec
Baurumtec
2021-09-05
Does what it says! Super helpful!
Agnieszka Awrejcewicz
Agnieszka Awrejcewicz
2021-09-05
Thank you so much! My transaction was stuck for days so I decided to try the premium acceleration option because I was desperate. I got it confirmed in 2 hours!!!
José Carlos
José Carlos
2021-09-05
Premium version is even better! After a few months of using their excellent free boosting service, today I could try out the new premium acceleration service. My tx got confirmed in 27 minutes! Great job and thank you very much to all the BTC Nitro team :)
Apes Together Strong
Apes Together Strong
2021-08-11
My tx went unconfirmed for 3 days because of low fees but was confirmed immediately I contacted btc nitro and it's free of charge just send your tx
Zero Point Zero
Zero Point Zero
2021-05-18
I am grateful! Used there service and couldn’t be happier. My btc was stuck and now confirmed!! It really works. Thank you very much.
Camila Aira
Camila Aira
2021-05-06
Go BTC Nitro! I got my TX confirmed after more than one week of waiting. 3 hours after using BTC nitro and it’s done!
Anna Riley
Anna Riley
2021-05-05
As described really good system. Just works like it says it will.
FilmyRush
FilmyRush
2021-05-02
awesome site they really confirmed my very low fees transection very fast really appreciated for their support
Helena
Helena
2021-04-30
I contacted them today for my three days stucked transaction id 8e83e7a44ce302303202ba33433cf06a3bd5d61d5f3831a961abcf70f52b14e9, and it is yet to be confirmed. My fees weren't too low, 9.97 sat/vb. Reading positive returns here gives me hope. I will come back to edit and share my experience which i trust is going to be positive, and i will add the fith star! Unfortunately my transaction is still unconfirmed 12 hours later, two accelerations by btc nitro Edit: I finally got my transaction confirmed today. Many thanks to the support team. Five stars bling bling bling*****

Article: Bitcoin stuck in mempool

A few hours later it got confirmed, but I think thanks to a bitcoin accelerator that I found and used. https://btcnitrodev.wpengine.com
Should have looked before. This thing worked like a miracle. Next time if something like this happens I will be smarter. 😉

[link to full article…]

Share this article...

Share on facebook
Share on twitter
Share on linkedin