The best way to learn about new technology is to experience it for yourself, and cryptocurrency is no exception. However, before you can do anything with Bitcoin, you need to understand how you can buy it.

The cryptocurrency market is very varied, but it can also be quite new-user-unfriendly, throwing a lot of terms and phrases out that you will not understand immediately. If you just want to buy bitcoin, then it can be tricky to know how to start.

Here, we are going to break down exactly how buying and selling bitcoin works and how to buy bitcoin for the first time. The sooner you have at least a small amount of bitcoin to play with, the faster you will get a good understanding of how cryptocurrency works and what it is for.

What is the best way to buy cryptocurrency UK?

The best way to get hold of bitcoin in the UK is to use a cryptocurrency exchange, a platform dedicated entirely to buying and selling bitcoin and other cryptocurrency types.

These can allow you to buy Bitcoin safely - and buy bitcoin anonymously - for added security, all while giving you an easy way to check what you have already bought.

These cryptocurrency exchange platforms are often the best way to approach buying bitcoin (or any cryptocurrency) due to the decentralized nature of the currencies themselves.

Acting like marketplaces, they enable easy trading, buying, and selling without the risk of being scammed in a face-to-face exchange.

Platforms like coinpass are a good example, providing an easy way to get bitcoin in the UK on your own terms.

It also provides you with a lot of data on past bitcoin transactions and bitcoin price prediction, something that can be an important source of investment advice if you are trading to turn a profit.

Choosing an Exchange

Buying bitcoin UK-wide is not hard, but you need the right platform for it. If you want to buy a digital currency like bitcoin in the UK, then you are responsible for your own safety and the sites that you choose to use.

Cryptocurrency exchanges are platforms where users can buy and sell Bitcoin and other cryptocurrencies for real-world money or trade one crypto type for another.

Many of these platforms also have their own wallet systems, making them a place to store cryptocurrency temporarily too.

These platforms are the heart of any crypto trader's activities and are a hub for bitcoin transactions. They also act as a place to get the latest bitcoin news and financial information.

Finding the right exchange effectively gives you more protection against shady cryptocurrency brokers, allows for in-UK faster payments, and can enable you to instantly buy bitcoin once your account is all set up.

Of course, like any financial platform, you need to choose an exchange that you can trust.

Safety

It is important to choose a crypto trading platform that is safe and secure.  Your crypto wallet - the digital wallet that contains all of your cryptocurrency - is often going to be a target for third parties that want to steal your legitimately-bought currency.

A good crypto exchange should provide high-level security and protection for your crypto holdings, as well as a secure bitcoin wallet and multiple stages of account security.

Platforms like coinpass are a good example since they are able to protect their users (and their bitcoin wallet) with ease.

Common sense is also important when selling and buying bitcoin. Moving your bitcoin off-site into private wallets can be a good way to keep it even more protected until you need to use it, and learning to identify scams is an important part of keeping your finances safe.

Features

Not all crypto exchanges are equal. Some are designed purely to trade bitcoin and other currencies without any other major features, meaning that they are great if you want to purchase bitcoin but lacking in other areas.

Using an exchange platform with a good range of features will allow you to do more than just buy bitcoin. Not only can many of them boast features that help with future bitcoin investments, but they might provide more uses for the blockchain technology the system is built on.

Fees

There are always going to be fees on exchange platforms, but researching them ahead of time can help you avoid getting caught off guard - and allow you to choose the best platform for your needs.

Understanding these fees can help you buy and sell Bitcoin more effectively, all while avoiding unnecessary costs.

For example, some platforms have trading fees dependent on bitcoin price or deposit fees in fiat currency.

A few platforms may even display currency pairs that influence the minimum bitcoin investment needed to buy another cryptocurrency type.

While these fees might not be at all that high, it is important to know that they are there. A bitcoin transaction with trading fees - even fixed fees - is going to make the bitcoin price you pay slightly higher overall.

Small added fees to GBP deposits can gradually add up over time, too, so some fees may make it more efficient to use larger single deposits instead of many smaller ones.

Crypto Options

If you are just looking to buy bitcoins, then any platform offering BC (bitcoin) is going to be a great option.

However, there are more crypto options out there other than just bitcoin, and sometimes you want more than just a single bitcoin investment.

Crypto exchanges can offer a range of currencies, as well as multiple ways to trade them directly instead of using fiat currency to purchase them.

However, not every platform can offer every currency, especially with how many independent crypto types are out there.

Because of this, it can be important to research the actual cryptocurrencies on offer.

If you are thinking of looking into more than just buying bitcoin, then it might help to choose a platform with a varied selection of different currency options, especially if you are aiming to choose a currency that can lead to profits in the near future.

How to Buy Bitcoin UK-Wide

Once you have chosen your exchange, you need to actually look into making the purchases and buying Bitcoin for yourself.

While this might sound simple in theory, there can be a lot of steps involved in buying bitcoin, and it can take a while to learn it by heart.

Each exchange is different, too. Do not expect one's purchasing system to directly match another's.

1. Choose a Platform

Choose your exchange. It does not hurt to look around more, but if you are just interested in bitcoin, then any platform can work. Most will carry bitcoin since it is the most well-known cryptocurrency on the market.

Be sure to look into security, safety, and all of the other details mentioned above. It does not hurt to take some extra time and choose a site that you can trust.

If you deposit funds somewhere, you put yourself in a vulnerable position where your bank account connects to that site.

Choosing the right platform is vital for this exact reason - if you are not careful, you can endanger your own finances or even your entire device.

2. Create an Account

Next, you need to create an account. This process will be different on every platform, but the general idea is not hard to grasp - just sign up and follow any instructions that you are given. Remember that creating an account requires you to accept the terms and conditions of the platform. It never hurts to take a look at the T&Cs, even if you are just skimming over them.

Accounts often allow you to access more parts of the site than a non-registered user can, which means that there might be other features on offer too.

Take some time to explore the platform if you can since it might give you a better understanding of what tools you have available.

3. Verify Your Account

In many cases, you will have to verify the account that you have created before you can use it. This often means verifying your identity as an anti-fraud measure, and your account may be restricted from buying or selling your bitcoin until you complete the verification process.

The exact process to verify yourself will change from site to site, but remember that the platform may need a copy of your passport or driver's license to prove that you are a real person.  Once this is done, you should not need to verify yourself on that account again.

Verification is necessary. If a platform does not ask for any form of verification, then you might want to be wary - scam bitcoin UK sites will make things as easy as possible so that they can get your bank account details faster.

4. Deposit

If you want to buy bitcoin UK, then you need to deposit some money first. Putting funds in your account is usually as simple as linking a bank account (or credit or debit card) and then making payments.

It can take a while for certain kinds of UK bank transfer to complete, but after a short delay, the money should be in your account.

As long as you have money in your account on the platform, you should be able to buy bitcoin instantly.
There are multiple payment methods that you could use, so check with the site before you deposit.  For example, bank transfers may be a valid payment method on one platform but not a usable payment method on another.

5. Buy Bitcoin

The process of actually buying bitcoin can be deceptively simple. If you are sure that you want to go with bitcoin as your currency, then you simply need to choose that currency and decide how many coins you want to purchase.

Remember that most cryptocurrencies do not just work on a coin level. You might be able to buy fractional shares of them, meaning that 0.1 Bitcoin is a valid amount to own.

In some cases, trading fractions of coins can be the best way to turn a profit without selling all of your bitcoin.

6. Store Your Bitcoin

Once you buy bitcoin, you need a place to store it. This can mean using online bitcoin wallets, leaving it on the exchange, or even using an offline wallet instead.

Leaving your BTC on the exchange allows you to instantly use it again, which can be important for bitcoin investors or people who want to sell the moment they see bitcoin hit another price high. This also enables faster payments and trading on the platform.

Online "hot wallets" let you take your coins off the bitcoin network and platform, keeping them as a digital asset.

"Cold wallets" are physical storage devices that you can remove from the internet completely and take with you. Both have their upsides and downsides, but having some kind of crypto wallet is always useful.

Which payment methods are best?

Buying crypto means making payments to the platform, and not all payment methods are equal.  While it might only be a small part of the process, it helps to understand exactly which payment options might be best in each situation and how they change the way you buy bitcoin UK-wide.

Credit and Debit Cards

Debit cards are a very popular payment method for buying cryptocurrency since it is easy to add digital currency to your wallet on exchange platforms.

Debit cards also mean that you can't go over your own budget since you can't spend more than you have.

Credit cards are not supported on all exchange platforms for a good reason - you can spend more than you have.

However, if you are comfortable using them, they can be a great way to buy cryptocurrency reliably.

Paypal

PayPal can be convenient for a lot of different bitcoin purchases, but it only deals with fiat currency, meaning that you are relying on other methods for crypto-to-crypto trades. The flexibility of services like this can make it a great first choice if you are new to buying bitcoin.

Bank Transfer

A bank transfer is a great alternative to credit cards, and it can be faster than you might expect in some cases. Of course, each bank will handle UK bank transfer processes differently, and your bank transfer can take longer if you need to verify any account details.

Other Cryptocurrencies

If you already have any kind of crypto, then you can simply trade for that instead. This could either be a direct trade or selling your crypto to turn it into money that you then use the buy bitcoin directly.

Either way works, but it is always worth remembering that crypto prices can change dramatically with very little warning.

Sometimes one option might be cheaper than the other, depending on how long you take to fully complete the purchase

Is Bitcoin Safe in UK Markets?

Safety is important when you choose to buy bitcoin, but wanting to buy bitcoin is not actually a dangerous act in itself. What matters more are the platforms and tools you use the buy it - the things that you are relying on to make the purchases properly.

For example, the use of an untrustworthy exchange can put your finances at risk of being hacked, and certain kinds of digital currency are designed to be scam cryptocurrency. Dealing with the risks and challenges of the cryptocurrency market is not hard; it just requires some forethought and planning.

Is the Blockchain Safe?

Blockchain technology is supposed to make everything decentralized and nigh-impossible to hack, meaning that a bitcoin purchase is going to be recorded in multiple places and handled with a high level of security. However, most hackers are not going to aim for the transactions themselves.

It is nearly impossible to tamper with the blockchain since each new bitcoin transaction is logged through consensus. Modifying one part of a crypto trading log will not actually change anything since there are other parts of the log in other places that keep the information on track.

The blockchain is a very reliable tool, and it is a major part of how you trade and buy bitcoin alongside other digital currencies. Your safety concerns should not be with the blockchain but with the tools that you are using to access it and make purchases, trades, or sales.

Are Cryptocurrency Exchanges Safe?

Cryptocurrency exchanges are your entryway into the world of crypto buying and selling, which means that they can also be quite popular targets for hacking and account thieves. Finding a secure exchange is a major part of keeping yourself safe when you are dipping your toes into cryptocurrency.

Remember that you can always buy bitcoin and immediately move the digital currency into a digital or mobile wallet, taking it out of the platform. However, if you deposit money there, then your details may be stored on the site - which still puts your finances at risk.

Be sure to practice all of the usual internet safety habits while signing up with an exchange, and do not hesitate to take extra precautions if you are genuinely concerned about the safety of your money and account.

Hot Wallets

As mentioned earlier, a hot wallet is an internet-connected crypto wallet that can be directly tied to the internet. This usually means software with your bitcoin stored as data that can't be modified or accessed.

Since these wallets are simply software, they are easily threatened by viruses or malware that can destroy, steal, or corrupt the contents. This means that they - and the devices that they are installed on - need to be kept secure and safe from both online and offline threats.

On the positive side, hot wallets are immediately accessible. If you want to buy and sell bitcoin in the UK without relying on the wallets that most exchanges offer by default, then this is usually what you will end up using.

Cold Wallets

Many people consider cold wallets to be the best bitcoin wallet option, providing one key safety measure above all of the others. Since these wallets are physical USB sticks or storage devices, they can be unplugged from a device and kept completely offline, unpowered, and safe.

Hackers and other intruders can only gain access to your wallet if it is currently accessible online, and even well-designed malware can't really send anything back or make transactions if your device has no connection to the internet. By keeping this wallet separate, you insulate it from all kinds of threats - as long as you are keeping the physical device itself safe.

This also comes with the downside of having to plug the wallet in whenever you want to use it. For example, a UK bank transfer to buy crypto would require you to either plug in your cold wallet or rely on the platform's built-in wallet and then transfer the coins across later.

How to Sell Bitcoin in the UK?

Of course, exchange platforms are not just for choosing to buy Bitcoin. They can also be a great way to sell, either to trade for other currencies or just to make some money. Of course, the process for this is slightly different on each platform and for certain currencies.

Remember that not all platforms operate in the same way, right down to payment delays and other factors in the trades or sales you make. There can be cases where one platform requires something distinctly different from another or even needs additional verification steps.

Assuming you already have your account in place, then you will have to:

1. Connect your wallet

If you already have something to sell, then you want to connect your wallet. This is usually quite easy to do, and most exchanges will have tips to walk you through the process.

Once you have connected your wallet, you can buy and sell at will. Just remember to verify your identity if the platform requests it. Without verification, you will not be able to use most features and definitely will not be able to sell or buy bitcoin.

2. Transfer your coins to your exchange wallet

Sometimes, some wallets require you to have the bitcoin inside your exchange wallet before you can use it. In these cases, transfer the bitcoin to your exchange wallet before trying to sell.

3. Place a sell order

Placing a sell order is usually the main way to sell your bitcoin. Placing the order leads to a holding period where the coins are kept until the sale is completed, after which the money from the sale will be transferred to you as well.

4. Trades

If you are trading, things are slightly different. Each platform approaches it differently, but you effectively have to agree on the same terms as another person or post a listing that they will then accept. This can mean slightly longer delays but also provides a way to exchange one cryptocurrency for another near-instantly.

Is it safe to buy bitcoin in the UK?

While many people buy bitcoin in the UK on a daily basis, it is understandable that many are wary of the safety involved. There are a lot of fake cryptocurrency broker sites out there looking to scam people, tricking them to send bitcoin or lose money on fake bought bitcoin.

However, sticking to trustworthy online brokers and platforms is the best way to counteract this problem. When you buy BTC, you are buying from a specific person and using a certain channel to do it - and the channel is the important part.

You do not buy bitcoin from a central bank since it is centralized. However, each platform acts like its own ecosystem and market, with every exchange being the de facto authority of the transactions they oversee. This means that the exchange is the thing you need to choose carefully, not your trading partners.

Malware Threats

Malware is perhaps the most common kind of threat you will encounter while trying to buy BTC. If a site can install bitcoin-related malware onto your computer, they might gain access to your coins. Even regular malware can be dangerous, corrupting or deleting files related to your cryptocurrency. If you are using a physical storage device for your wallet, you also want to be careful with viruses. They might infect the USB drives you are using, which can not only corrupt your wallet but infect other devices that you plug them into later on.

Account Theft

Ideally, account theft will be prevented by a platform's security measures. However, this is not always the case, and there are times when your details may be leaked, or somebody may manage to guess your account information.

If this happens, then you need to work with the platform to deal with the problem and contact your bank to make sure that nothing else can be taken. Most of the time, this will be down to user error - if a platform ends up leaking your information, they will usually find a way to compensate you.

Technical Faults

Sometimes faults happen. You might deposit funds only for your debit card to refuse to send the full amount or not be able to withdraw your money back to your debit card. You may even find that you can't deposit GBP using your debit card anymore or that your cash balance is not updating. If this happens, talk to the bitcoin platform. They can fix your problem, and with so many people buying crypto in the UK, it can be hard for them to catch every error immediately. Letting them know allows them to fix the issue while also preventing future users from stumbling into the same problems.

A good platform will avoid issues like not being able to deposit GBP, deposits going missing, or fiat deposits not lining up with their normal values - but sometimes errors happen anyway. It is best to talk to the platform directly to fix the issue right away.

Can I still buy bitcoin in UK markets?

Bitcoin is not showing any signs of dying any time soon, so you can easily buy bitcoin from platforms like coinpass. Choosing to buy bitcoin in the UK is no different from buying it elsewhere, other than a few different rules and regulations.

Trying to buy bitcoin in the UK might be easier than bitcoin mining - if that is the easier option, do not hesitate to buy bitcoin. UK users can still use their debit card or bank transfer options to buy bitcoin UK-wide, and you will only need to worry about platform-specific rules like minimum deposit limits.

How to invest in bitcoin UK?

Investing in bitcoin is as simple as buying some. As long as you can hit the minimum deposit requirement of a bitcoin platform, then you can buy bitcoin in the UK with even a standard debit card.

Once you buy bitcoin in the UK, you are free to use it anywhere that accepts bitcoin. Remember that not all businesses accept bitcoin and that bitcoin as a whole is just another payment method. Since the price of bitcoin can fluctuate over time, you are investing just by owning it. When you choose to sell is another matter entirely since it acts similar to the stock market: coins go up, coins go down, and selling for a higher amount than your purchase price turns you a profit.

You can always trade bitcoin for other currencies, too. Do not be afraid to do more research into your options, especially if you are looking to make some extra money.

Where to buy cryptocurrency UK?

There are a lot of places to buy bitcoin, with bitcoin and crypto platforms being the best places to look. Whether you want to try individual bitcoin sellers or buy bitcoin from a larger platform, just make sure to take good care of your data and the bitcoin that you buy.

Still unsure on basic questions like "how does bitcoin work?" or "what happens if I do not have a bitcoin wallet?" Slow down and do some basic research - the more you know about bitcoin as a whole, the easier it becomes to buy, sell and trade it effectively alongside other currencies.