How to Buy Bitcoin in the UK 2022

7 Best Exchange to Buy Bitcoin in the UK? (2022)

This crypto beginner’s guide explains how to buy Bitcoin in the UK in 2022. We have put together 7 of the best exchanges we have personally tried and tested to buy bitcoin, and all the exchanges are available to UK investors.

We will also explain the fees, payment methods, ease of use, pros and cons, as well as the cheapest way to buy Bitcoin in the UK.

Alternatively, if you’re completely new to crypto investing, you should first check out our guides on the best crypto wallets for UK investors or crypto-friendly banks for UK investors.

7 Best Exchange to Buy Bitcoin in the UK? (2022)

If you’re unsure how to buy Bitcoin in the UK, we’ve listed our top 7 crypto exchanges for UK investors;

  1. Coinbase
  2. Coinbase Pro
  3. Gemini
  4. Kraken
  5. Crypto.com
  6. Binance
  7. FTX

The quick view table shown below also summarises the exchange, the number of supported cryptocurrencies, fees*, if GBP is supported, and any related sign-up offers.

*Please note that where maker/taker structures are unavailable, these are deemed as taker fees, and credit/debit card fees have not been included.

Please Note: Some of these exchanges are extremely busy ATMs, so if you have any questions, there may be some delays from customer support. Also, some links are affiliates and may not work depending on your location.

Compare Cryptocurrency Exchanges

Where to Buy Bitcoin in the UK?

We have put together our list of the best crypto exchanges in the UK. For an in-depth review and tutorial of each platform, check out the links below.

If you’re not too sure where to buy Bitcoin in the UK, you can also check out our crypto exchange compare page. Quickly compare exchanges to find the best platform to fit your requirements. Compare fees, supported cryptocurrencies, sign-up bonus and TrustPilot rating.

Exchange

Supported Cryptos

Maker Fees

Taker Fees

Sign-up Bonus

Coinbase

122+

TBC

TBC

Coinbase Pro

117+

0.5%

0.5%

Binance

500+

0.1%

0.1%

Crypto.com

135+

0.4%

0.4%

FTX

120+

0.02%

0.07%

Gemini

60+

1.99%

1.99%

Kraken

78+

0.16%

0.26%

N/A

1. Coinbase

Coinbase is one of the best-known exchanges to buy Bitcoin in the UK, with over 89 million customers in over 100 countries. In 2021, Coinbase was listed on the NASDAQ under the ticker COIN and became the first crypto platform to be listed on the stock market.

When signing up to Coinbase as a new user, Coinbase offers £10 of Bitcoin to get you started when you buy or sell $100 or more. Another Coinbase feature I would recommend checking out is Coinbase Earn, where you can receive free crypto while learning about each token you earn.

They also offer users a web3 mobile and browser-based wallet, which we covered in our in-depth Coinbase Wallet Review.

Coinbase.com UK

Coinbase Payment Methods: Debit Cards, (some legacy linked) Credit Cards, Faster Payment Services and SEPA Transfers.

Coinbase Fees: Coinbase are very unclear about its fee structure and states that these are calculated at the time of your order. These are determined by a combination of factors, including payment method, size of order and market conditions. However, generally speaking, credit cards are around 3.99%. Coinbase also includes a spread of about 0.5% on their orders.

Coinbase Referral Code

How to Buy Bitcoin with Coinbase

  1. Create an account with Coinbase.com
  2. Go to “Assets” and choose “British Pounds“.
  3. Click on “Add Cash” and send your Bank Transfer.
  4. When your balance is active, go to “Buy/Sell
  5. Select “Buy: Bitcoin” and “Pay with: GBP Wallet“.
  6. Enter the “Amount” and “Preview Buy“.
  7. Review your purchase and “Buy Now“.

2. Coinbase Pro

Coinbase Pro is Coinbase.com´s professional trading platform built for the more experienced crypto investor. Trading fees starting at 0.5% make it a cheaper alternative to Coinbase.com. Although compared to similar advanced trading platforms (FTX or Binance), these are still some of the highest trading fees in the industry.

At first, the interface can look very busy with its in-depth trading charts and flashing numbers, which can seem daunting to a crypto newbie. However, we explain how you can get started using Coinbase Pro if you check out our in-depth tutorial.

Coinbase Pro UK

Coinbase Pro Payment Methods: Faster Payment Services and SEPA Transfers.

Coinbase Pro Fees: Coinbase Pro fees start at 0.5%. Once purchased, you can send your crypto assets back to Coinbase (free of charge) or send them to a secure crypto wallet for a fee (network fee).

How to Buy Bitcoin with Coinbase Pro

  1. Create an account with Coinbase.com and navigate to Coinbase Pro.
  2. Choose “Portfolios” and “Deposit
  3. Select “GBP
  4. Select “UK Bank Transfer” and send your Bank Transfer.
  5. When your balance is active, go to “Trade
  6. Select the market “BTC/GBP” and Click “Buy
  7. Choose from Market, Limited or Stop Order.
  8. Enter the “Amount” and “Place Buy Order“.

3. Gemini

Gemini is a US-based crypto exchange and was launched in 2015 by the Winklevoss twins Cameron & Tyler. The Winklevoss´ had risen to fame in 2004 after they sued Mark Zuckerberg over Facebook. The company has since expanded its operations to Europe and Asia. 

Gemini is available in over 50 countries and supports 60+ cryptocurrencies, including Bitcoin, Ethereum, XRP, Cardano, and stablecoins such as GUSD or DAI. They also support GBP account deposits, as well Euros and USD.

Similar to Coinbase, Gemini also offers UK customers $10 of free Bitcoin at sign-up when making a deposit and buying/selling $100 worth of crypto.

If you´re interested in trying Gemini out for yourself, you can check out our in-depth Gemini Review,

How to buy Bitcoin with Gemini UK

Gemini Payment Methods: UK bank transfer, Credit and Debit cards.

Gemini Fees: Generally, Credit/debit card payment fees are at 3.49%. These fees can be greatly reduced by using their more advanced trading platform, “Gemini ActiveTrader”. Where you can reduce your trading fees to (a maximum of) 0.35%.

Gemini Referral Code

How to Buy Bitcoin with Gemini?

  1. Create an account with Gemini.com
  2. Choose “Transfer” and “Deposit into Gemini”
  3. Select “GBP” and “Continue
  4. Send your Bank Transfer.
  5. When your balance is active, go to “Market
  6. Click on “Bitcoin” and choose “Buy
  7. Enter the “Amount” then “Review Order
  8. Enter the “Payment Method” and select your “GBP Balance“.
  9. Choose “Place Order“.
Get the Best DeFi Rates

4. Kraken Exchange

Kraken is one of the world’s largest and oldest Bitcoin exchanges, having launched in 2011. Known for its low trading fees, versatile funding options, and security. With Kraken, you can transfer your GBP via FPS, BACs, CHAPS, or using their FIAT currency funding partner Etana.

Kraken provides users with two crypto trading options. Their simple trading platform for beginners or Kraken Pro is aimed at the more advanced traders (similar to the likes of Coinbase Pro or Gemini ActiveTrader).

There are a lot of trading pairs available on Kraken, although not every asset can be purchased with GBP. Therefore, you may need to start with purchasing Bitcoin and then trade for the more diverse type of asset.

To find out more about supported cryptocurrencies with Kraken, check out our detailed Kraken exchange review.

What is Kraken Exchange

Kraken Payment Methods: Bank Transfers, Credit & Debit Cards

Kraken Fees: With Kraken instant buy, you’ll be paying a 0.9% fee for any stablecoins and FX pairs or a 1.5% fee for any other crypto. You’ll also pay 3.75% + €0.25 for card processing fees or 1.7% + $0.10 for bank processing fees.

With Kraken Pro, spot trading fees range from 0.26% all the way down to 0%. Kraken uses a maker-taker fee schedule with volume incentives based on your activity in the past 30 days.

Kraken Sign-up Offer

How to Buy Bitcoin with Kraken?

  1. Create an account with Kraken.com
  2. Choose “Funding” and “Deposit
  3. Select “Pound Sterling” and “Fund Manually
  4. Enter the amount and send your bank transfer.
  5. When your balance is active, go to “Buy Crypto
  6. Select “Bitcoin” and enter the “Amount
  7. “Review” then “Place Order“.

5. Crypto.com

The Hong Kong-based Crypto.com was founded in 2016 and has since created a whole suite of crypto products, including its app, wallet, and exchange. With the Crypto.com app, you can deposit and buy crypto with 20+ FIAT currencies, including GBP, which can be deposited using a bank transfer or using a debit/credit card.

Crypto.com provides new users with some great sign-up offers, especially when you buy and stake their CRO token. Plus, one of the best features I find using Crypto.com is their debit card. Where you receive cashback in their CRO token for every purchase, you make.

The Crypto.com exchange has a lot to offer with low trading fees, more advanced order types, and a few different pairs you can trade between. Although, if you want a wider range of cryptos and altcoins, you may be better off using alternative exchanges such as Binance.

Crypto.com Exchange

Crypto.com Payment Methods: Faster Payment Service, Credit & Debit Card.

Crypto.com Fees: With the Crypto.com exchange, the maximum trading fee is currently 0.4%. You can also purchase crypto with a credit or debit card on the crypto.com app. However, these fees are a lot higher, at 3.5%.

Crypto.com Sign up free $50

How to Buy Bitcoin with Crypto.com App?

  1. Create an account with Crypto.com App
  2. Press onto “Accounts” and “Fiat Wallet
  3. Select “Transfer” and “Deposit
  4. Choose “British Pounds”
  5. Send your bank transfer.
  6. When your balance is active, go to the “Home” tab
  7. Choose “Trade” and “Buy
  8. Select “Bitcoin” and Fiat Wallet
  9. Enter the “Amount” and choose “GBP
  10. “Review” then “Place Order“.

6. Binance Exchange

Binance Exchange is the most popular cryptocurrency trading platform in the world and was founded in China by Changpeng Zhao, also known as CZ. They have some of the cheapest rates in the industry, with fees starting at 0.1%. Making it an affordable way for their users to trade with diverse tokens.

There have been issues with Binance UK customers being unable to deposit and withdraw from the platform. Plus, some of the UK’s largest banks have blocked customer payments to the crypto exchange platform.

The UK regulators aren’t the only jurisdictions asking questions of Binance. Financial regulators in Japan, Poland, and the Canadian province of Ontario have also targeted the company in recent months.

Binance.com used to have a subsidiary, Binance Jersey, aimed at the UK market, which I covered in my previous post. However, the platform has now ceased trading.

Buy Bitcoin with Binance UK

Binance Payment Methods: Faster Payment Service, Debit Card & Credit Cards.

Binance Fees: Binance has some of the lowest trading fees across all the cryptocurrency exchanges and charges a maximum of 0.1%. New users can reduce these fees further by up to 20% by using our referral code at sign-up. Plus, you can get better rates by using Binance´s own BNB token.

Check out our guide on How to Save up to 45% on Binance Trading fees to find out more!

Binance Sign-up Bonus

How to Buy Bitcoin with Binance?

  1. Create an account with Binance.com
  2. Choose “Wallets” and “Fiat & Spot
  3. Locate “GBP” and choose “Deposit
  4. Choose “Bank Transfer (faster payments) and click “Continue
  5. Enter the “Amount” and “Continue
  6. Send your bank transfer.
  7. When your balance is active, go to “Trade” & “Classic
  8. From the list of markets, choose “BTC/GBP” and “Buy
  9. Select “Bitcoin” and Fiat Wallet
  10. Choose from Market, Limit or Stop Order
  11. Enter the “Amount
  12. Click “Buy BTC“.

7. FTX

FTX Exchange is an exchange built by traders for traders. Founded in May of 2019 by its CEO Sam Bankman-Fried, and backed by Alameda Research. Since its launch, FTX has been busy. In mid-2020, they launched their partner site, the FTX US exchange. They bought the popular crypto portfolio tracking app Blockfolio, built a DEX on Solana named “Serum”, and won the naming rights to the home of the Miami Heat.

UK investors can trade with futures contracts, spot trading, stocks, leveraged tokens, volatility, predictions, and FIAT markets.

Blockfolio has now been renamed the FTX app, an easy-to-use mobile app where users can buy and trade crypto and track their assets and stake to earn passive income.

Buy BTC with GBP FTX Exchange

FTX Payment Methods: All FIAT supported on the exchange can be deposited by wire transfer and credit card, although fees will apply. The FTX Apps supports payments via credit card or wire transfers.

FTX Fees: For futures and spot markets, they work on a maker-taker model with fees from 0.04% to 0.07%.

How to Buy Bitcoin with FTX App?

  1. Create an account with FTX using referral code: 9202836
  2. From the Invest Tab, choose “Deposit
  3. Choose “International Wire Transfer
  4. Send your bank transfer.
  5. When your balance is active, go to “Invest” & “Tradeable Assets
  6. Choose “Bitcoin” and press “Buy
  7. Enter the “Amount” and “Review
  8. Proceed to “Buy Bitcoin

FAQs

Why are investors buying Bitcoin in the UK?

Bitcoin is (again) attracting a lot of attention due to the current economic and political environment. In these unprecedented times, it’s important to be diversified, and in previous recessions, investors would flock to precious metals like gold as a safe haven.

However, since the last recession in 2008, Bitcoin is now potentially the new digital gold that investors want a piece of. But how do you take advantage of this (potential) once-in-a-lifetime opportunity?

Is Bitcoin legal in the UK?

The Bank of England does not consider cryptocurrency as legal tender. However, the FCA and the Bank of England have issued warnings and guidance about their use.

How to keep your crypto secure?

Once you’ve purchased your crypto, it should be moved to a wallet to store safely offline. Two hardware wallets we personally use are the Ledger Nano & Trezor. However, there are other wallets that can be downloaded for free on your desktop or mobile, such as Trust Wallet, Exodus, or Argent.

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7 Responses

  1. Hello,
    When transfering crypto from Kraken or Coinbase onto a ledger nano s, does it get wiped from my exchange’s account or are the funds now held in 2 locations?

  2. Hello,

    I recently discovered your channel and found your videos useful and informative. keep up the good work. I have a question and I hope you could help me.

    I have signed up with coinbase a few days ago and have been trying to link my UK bank account with them but it keeps getting rejected. I don’t know if this is a recent issue but it seems that several crypto exchange websites are rejecting UK banks. I would really appreciate it if you could inform me about crypto friendly UK banks or other crypto websites that I could try instead?

    1. I personally use Revolut into the likes of Coinbase, although this did get blocked by Kraken exchange just this week. I also think that Nationwide and Santander are both crypto friendly UK banks! I hope this helps!

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