Coinmama is a fast, secure and safe service that provides the option of buying cryptocurrencies like BTC by using credit cards in the UK. (Note: It is a buy-only service)
However, unlike other services, they do not have their own inbuilt wallet for Bitcoin. Hence, before using Coinmama you need to make a Bitcoin wallet. (If you don’t have a safe Bitcoin wallet, pick one from our list of Bitcoin wallets.)
Coinmama charges 5% fee on each transaction if you use a credit/debit card and after purchase deposits the BTC in you given wallet after the purchase.
However, before using this service, one needs to go through a proper KYC check which can take a few days for completion, so the early you start the better it is.
LocalBitcoin is my favorite method to buy Bitcoins with other exchanges shutting down new registrations.
It is a peer-to-peer Bitcoin-only exchange that escrows your bitcoins and is spread across 245 countries around the world including the UK.
Using LocalBitcoins (LBC) one can meet sellers online and decide when and where to meet offline to complete the trade. The fiat money transaction can be done by using cash, wire transfer, PayPal, SEPA or direct bank deposit (all depending on the terms of trade).
However, LBC requires you to register using your email ID, and some sellers require you to do a basic KYC check. Everything is set by the sellers and Local Bitcoins acts as an escrow manager.
Caution: Be sure to check the reputation of the seller; a higher reputation means a more trustable seller.
Binance Jersey is an extension of popular crypto exchange Binance. This is one of the most trusted Crypto brand online. This is also one of the best ways to Buy Bitcoins in United Kingdom (UK). They accept payment via EUR, GBP and they charge 0% for fiat deposit.
Getting started is easy and here is what you need to do:
Note: Wirex’s Visa powered debit cards also unique in nature where you get a 0.5 % cash back in crypto for every in-store purchase plus you can get your first card absolutely for free (including free shipping.) Wirex service is available only for Europe and UK users.
Changehero is another popular and a very interesting service that helps you swap one cryptocurrency for another almost instantly. So if you have any other supported crypto, you can always exchange it for Bitcoin using Changehero. If you don’t have a supported crypto, there is another easy way out.
If you have a VISA/MasterCard debit or credit card, you can instantly sign up for Changehero and buy Bitcoin (BTC) in the UK.
It accepts any currency of any country (EUR/GBP/USD/INR/etc.) and then calculates it in USD equivalent. You can find USD to BTC exchange rates here.
Note: Changehero also has purchase restrictions while using credit/debit cards.
You can also use the widget below to buy Ethereum directly using a visa debit or credit card.
Use Bitcoin ATM Radar service to find BTC ATM near you:
Bitcoin ATMs are also preferred because most of them don’t ask for an ID and you can simply feed fiat papers to it to get Bitcoin in return.
Usually, a Bitcoin ATM asks you to scan your public address and transfers BTCs to that address in the equivalent fiat you deposited in it. In some cases, if you don’t have a public address, just select the option of “don’t have an address” and the ATM will generate a paper wallet for you (if it supports that feature).
Buying Bitcoins in today’s time is not as difficult, especially in developed countries like the UK.
There are a plethora of options in the UK to buy Bitcoin, most of which I have listed above. But one thing that I want you to make note of is that these services are only good for buying Bitcoins and not for storing them.
Never store your Bitcoin on these service platforms and always find a self-hosted good Bitcoin wallet to store your Bitcoins. Some of the wallets that I would suggest are:
Harry is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets and Journalism he decided to become a half time trader half time journalist in the financial and cryptocurrency sector.He can be contacted at firstname.lastname@example.org