If you want to buy Bitcoin (BTC) you need a crypto platform like eToro, an investing account like IG, or a cryptocurrency exchange like Coinbase. In this guide, we look at four easy ways to buy the popular crypto-asset for your portfolio, plus the risks involved.
Bitcoin: How to invest in the UK
To buy Bitcoin in the UK you need to follow these simple steps:
The process of actually buying Bitcoin is based on following these steps:
- Find a crypto exchange that offers Bitcoin like eToro, Coinbase or Revolut.
- Open an account – you will have to prove your identity and answer some suitable questions. It’s important to note that if you want to withdraw money from a Bitcoin exchange, you will have to provide ID documents for AML (anti-money laundering)
- Deposit funds (GBP, USD or Euro) – you can do this using a debit card or a money service like Paypal (most banks and credit cards in the UK have banned transactions to crypto exchanges).
- Choose how much Bitcoin you want to buy. As a single Bitcoin is very expensive, you can buy fractions of a Bitcoin as a decimal transaction.
- Once you have bought your Bitcoin you can decide to keep it on the exchange in the hope of selling it for profit at a later date. Or you can withdraw it to a crypto wallet.
Use our comparison table of Bitcoin accounts to compare costs and the different ways to buy and sell Bitcoin. Please Note: Investing in Bitcoin and other cryptocurrencies is very high risk and not regulated by the FCA. There is a very high chance you may lose all your money.
| Bitcoin Platform | BTC Fees | Other Cryptocurrencies | Minimum Deposit | Customer Reviews | More Info |
|---|---|---|---|---|---|
 | 1% | 120 | From $50 | (Based on 277 reviews) | See Offer Capital at risk |
 | 1.49% | 35+ | £10 | (Based on 678 reviews) | See Offer Capital at risk |
 | 1.99% | 30 | $50 | (Based on 934 reviews) | See Offer Capital at risk |
 | 3.5% | 150 | $50 | (Based on 3 reviews) | See Offer Capital at risk |
Buying Bitcoin with IG
IG, is one of the largest brokers in the world, and is listed in the FTSE 100 on the London Stock Exchange and has just launched cryptocurrency investing in partnership with Uphold. They are one of my favourite brokers and although a little late to the party, if I had a sizeable Bitcoin position, I’d certainly keep at least some of it with IG. IG have offered crypto CFDs and tax-free Bitcoin trading to retial traders in the past, but now those derivatives are only available to professional clients.
However, this new launch means that everyone can invest in cryptocurrency with IG. One note though, as IG is regulated by the FCA, when you open a new cryptocurrency account, (as I did when testing it), you’ll have to wait 24 hours before being able to buy your first Bitcoin.
Buying Bitcoin with eToro
A more beginner-focused broker in the UK that offers access to Bitcoin is eToro. It’s a popular trading and investment company that currently has over 35 million registered users worldwide (you can find our full review of eToro here).
To buy Bitcoin with eToro, you’ll need to open an account with them and fund it (converting your GBP to USD). You’ll then need to complete a questionnaire to prove that you understand the risks of trading Bitcoin. Once you have done this, you simply search for Bitcoin on the platform (either on the desktop platform or app), click on ‘Trade’ and enter the details of your trade (i.e. how much Bitcoin you want to buy).
In terms of fees, eToro charges 1% for buying and selling crypto. So if you were to buy $1,000 worth of Bitcoin, the fee would be $10.
Buying BTC with Revolut
If you’re more interested in buying Bitcoin through your bank, Revolut, has a very simple interface on it’s app for buing Bitcoin. It’s a digital bank that was founded in 2015 and now has around 45 million customers globally (find our full review here).
Buying Bitcoin with Revolut is quite straightforward. The first step is to download the Revolut app (there is no desktop browser version of Revolut at present) and sign up. The second step is to add money to your account. Finally, go to the Crypto section, find Bitcoin, and enter your trade details.
With Revolut, trading fees depend on the plan you choose when you sign up. But if you just go with a standard plan (the ‘Standard/Plus’ plan), fees start at 1.49% per trade.
When you buy Bitcion on Revolut via the app you do in GBP, which reduces your foreign exchagne costs, but they also have Revolut X which is their more advanted cryptocurrency trading platform, where you can get much more market information and also buy Bitcion in USD.
Buying crypto with Coinbase
A fourth option for those in the UK is Coinbase. It’s one of the world’s largest crypto exchanges, I bought some Bitconi on it ages ago and thankfully forgot about it because it’s done ok, you can read about it in my Coinbase review Coinbase review here). I’ll be honest I didn’t think it would, and I have no idea where Bitcoin will go from here.
There is a very basic broswers based portal and app, and also an advanced platform (just click the toggle in the bottom left) which sould be considered a little more sophisticated/complex than the other platforms I’ve highlighted above. Yet buying Bitcoin is still relatively straightforward.
To buy Bitcoin via Coinbase, you’ll need to sign up for an account and then fund the account. You then search for Bitcoin (either on the app or desktop platform) and enter your trade details.
Compared to eToro and Revolut, Coinbase has a more complex fee structure. For example, if I were to sell my Bitcoin, it would cost £7.50 in flat fees on the app, but if you’re trading on the advanced platform, you can pay as little as 0.00% as a maker and 0.005% as a taker. When buying Bitcoin on Coinbase, the cost of the trade is calculated at the time you place your order and is determined by a range of factors, including your location, the selected payment, the size of the order, and market conditions such as volatility and liquidity (fees will be listed in the trade preview screen before you submit your transaction).
Can you buy Bitcoin with PayPal?
It’s worth pointing out that in the past, it has been possible to buy Bitcoin in the UK through PayPal. This used to be a really easy way to buy the crypto-asset.
However, right now, PayPal’s crypto purchasing service is temporarily paused while the company updates its system to comply with new UK regulations. So, at the moment, PayPal is not an option for those in the UK who are looking to buy the digital asset.
How To Buy Bitcoin Safely In The UK
- Use only FCA-regulated exchanges to avoid scams.
- Allocate only a small portfolio percentage to Bitcoin.
- Store holdings in secure wallets, but beware, lost keys mean lost Bitcoin.
I’ve bought Bitcoin with a few different platforms whilst reviewing them, and despite it’s popularity buying Bitcoin in the UK is not as simple as you think.
But it is easy and safe if you do it right. However, there are some significant risks compared to investing in stocks and shares. So, in this guide, I explain how to buy Bitcoin safely in the UK using FCA-regulated providers who must treat customers fairly.
Here are five ways to reduce risk when buying Bitcoin in the UK.
Offshore cryptocurrency exchanges are not regulated by the FCA and for uk investors wanting to buy Bitcoin there is very little protection or oversight.
Always use an FCA-regulated cryptocurrency exchange or investing platform.
You should also avoid buying Bitcoin privately. It is possible to send cryptocurrency to others and pay privately through money transfers, but this is very dangerous as there is no middleman supervising the deal and could lead to you getting ripped off.
A cryptocurrency exchange acts as a broker between buyers and sellers and means that you are trading anonymously and all transactions are managed online in an environment which is now regulated by the FCA.
You can read more about our research on cryptocurrency scams here.
A Bitcoin wallet or an account with a cryptocurrency exchange. A wallet lets you withdraw your Bitcoin and keep it in digital storage offline. With crypto platforms like eToro you can buy Bitcoin online and then withdraw it to a cryptocurrency wallet.
The advantage of using a Bitcon wallet is that you are in complete control of your Bitcoin, but it’s a bit like keeping your cash under the mattress. Whilst you are not at risk of your broker going bust, if you lose your crypto wallet you also lose all your Bitcoins.
There is an ongoing saga of a man who claims that he through his Bitcoin out, which is now worth an estimated £500m.
However, even institutional funds and professional investors use crypto wallets, Binance reported that Blackrock (one of the world’s biggest Bitcoin investors) quietly moved 100,000 Bitcoin ($BTC) to undisclosed wallets to keep it safe.
On the surface, investing in Bitcoin is the same as investing in shares. You open an account, deposit funds and buy Bitcoin. Bitcoin is a natural asset for investors and traders due to its history of rapid gains and fluctuations in value.
But, Bitcoin is sentiment-driven as it has little or no proven fundamental value. Don’t buyinto Bitcoin just becuase people are talking it up on social media.
This volatility makes it both very risky and potentially very lucrative as an investment. Unlike investing in shares, though, where stocks are traded on stock exchanges, cryptocurrencies like Bitcoin are traded on a peer-to-peer basis on cryptocurrency exchanges and are recorded in the blockchain.
Bitcoin is a very high-risk investment. Whether or not Bitcoin is a good investment depends on your investment objectives.
Always do your own research.
Whilst there is no denying that the price of Bitcoin has skyrocketed over the last decade, it’s important to follow one of the most basic rules of investing, diversification. Basically, don’t put all your eggs in one basket.
Bitcoin is a very volatile and risky investment, and cryptocurrency as an asset class could still crumble without warning.
So when buying Bitcoin treat it as a high risk investment and allocate a percentage of your portfolio accordingly. By this I mean that only a small percentage of your investments should be in high risk volatile asset classes like cryptocurrency.
The rest should be sensibly allocated to your pension, ISA or GIA in what are considered safer investments like the stock market and bonds.
Our research has shown that social media platforms are rife with scammers who promise high returns for investing in cryptocurrency.
These usually come in the form of videos promising copy trading or quick profits. These are all fake; the FCA has even recently stated fining “finfluencers” for promoting fake investment schemes related to crypto.
Buying Bitcoin: Risk vs Rewards
Bitcoin is unique, and it’s very different to traditional assets such as stocks and bonds. And as such the risks and rewards are amplified.
On the potential reward side, many experts believe that Bitcoin’s price will continue to rise in the years ahead. For example, Tom Lee at research firm Fundstrat has said that Bitcoin could potentially hit $250,000 in 2025. He believes that the digital asset will benefit from government adoption under the Trump Administration. Meanwhile, fund manager Cathie Wood has a 2030 ‘bull case’ target of $1.5 million, citing institutional interest and a more favourable regulatory backdrop as key drivers.
However, before you rush out and buy a ton of Bitcoin, it needs to be stressed that this is a very risky, volatile asset (that has a history of big falls). And you should only invest money that you can afford to lose. Moreover, financial experts generally advise that you should invest a maximum of 1-2% of your overall portfolio in Bitcoin. So for example, if your investment portfolio is worth a total of £50,000, £500-£1,000 might be appropriate for Bitcoin exposure.
Different ways to buy Bitcoin in the UK
There are three different ways to invest in Bitcoin in the UK. You can invest in Bitcoin through a:
- Bitcoin exchanges
- Investing platforms that offer Bitcoin
- Bitcoin stocks & ETFs
- Bitcoin derivatives (CFDs & spread bets)
Buying Bitcoin on cryptocurrency exchanges
All crypto exchanges that let investors buy Bitcoin in the UK need to be regulated by the FCA. There are only a handful in the UK, but the major ones are Coinbase, Kraken and Uphold.
The costs of investing in Bitcoin through a cryptocurrency can vary dramatically. The key things to consider are:
- Bitcoin commission– some Bitcoin accounts will charge a fee when you buy and sell Bitcoin on their platform.
- Bitcoin currency exchange fees– if you are buying Bitcoin against the USD (BTCUSD) but depositing GBP into your Bitcoin wallet, there will be a fee for converting the GBP into USD. It is possible with some exchanges to buy Bitcoin against GBP where you do not need to convert Fiat currencies.
- Bitcoin price spread– this is the difference between the buy and sell prices. As with investing in stocks, there is always a spread between where people are prepared to buy and people are prepared to sell. The Bitcoin spread varies, depending on how active the market is (liquidity) and how much the price is moving (volatility), as well as which Bitcoin platform you are investing through.
You can compare cryptocurrency exchange costs here.
Investing platforms that offer Bitcoin
As buying BTC increases in popularity (The FCA estimate that 12% of UK investors have bought crypto), traditional investing platforms like IG, Interactive Brokers and eToro now let you buy Bitcoin on their platforms. This is usually in partnership with a specialist crypto provider, but the process is seamless and integrated into their normal investing platform, so you can see it when you login.
Investing platforms that offer Bitcoin are also regulated by the FCA for other things such as stocks, bonds, bank accounts and trading. By choosing a Bitcoin account that is attached to a regulated entity, you will be dealing with a provider who is responsible for treating clients fairly (although not directly for cryptocurrency investing).
Buying Bitcoin Stocks & ETFs
You can also invest in Bitcoin by buying a stock or ETF that is heavily exposed to the price of Bitcoin.
Most stocks that track the price of Bitcoin are US based including:
- Strategy (formerly Microstrategy, US:MSTR)
- iShares Bitcoin ETF (US:IBIT)
- Mara Holdings (US:MARA)
- Coinbase (US:COIN)
- Galaxy Holdings (TSX:GLXY)
You can read more about the best Bitcoin stocks & ETFs to buy here.
Bitcoin CFDs and derivatives
You can only buy Bitcoin as a CFD or financial spread bet in the UK if you are classified as a professional client, as the FCA has banned it for retail investors.
When using CFDs or placing spread bets, it is possible to lose more than your initial stake. This will be amplified if you use leverage. Don’t risk more money than you can afford to lose when you take a position. Placing stop loss orders, which automatically close down your position when Bitcoin hits a particular value, are an essential way to limit the risk that you face.
Please note: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilising publicly available non-entity specific information about eToro.
Bitcoin FAQ:
Here are some of the most frequently asked questions people ask before they invest in Bitcoin:
Bitcoin is a digital currency that is based on blockchain technology and can be sent from user to user on the global Bitcoin network without the need for intermediaries such as banks. It was launched in 2009 by Satoshi Nakamoto (a pseudonym) and designed to be an alternative to traditional fiat currencies.
Bitcoin works as a digital currency where a record of all transactions are kept on the block chain. Each Bitcoin is stored in a digital wallet where it can be spent or sent.
You can either mine Bitcoin or buy them through a cryptocurrency exchange platform.
Owning Bitcoin is not as safe as owning other currencies such as the USD, GBP or Euro. Bitcoin is an unregulated cryptocurrency, where investors do not get the same protection from regulators such as the FCA.
No, Bitcoin is not regulated by the FCA. However, the FCA is in the process of starting to regulated some cryptocurrency brokers and platforms in the UK.
Many Bitcoin adverts are fake. You should be extremely cautious of any advertisement advertising cryptocurrency. From Peter Jones to PSY, new scam adverts advertising get-rich-quick Bitcoin schemes are flooding the internet. Despite a global ban from Google on non-regulated brokers advertising derivatives products, they are still getting through. Amazingly, you see them in the header of the DailyMail and other mainstream media websites.
No, Martin Lewis, the money-saving-guru from Money Saving Expert very clearly states on his social media profile that he “doesn’t do ads”. In fact Martin Lewis recently sued Facebook because they failed to stop scammers using his image in scam ads for get-rich-quick Bitcoin schemes. Martin Lewis settled with Facebook for a £3m charitable donation in the end.
If you see an advert for Bitcoin investing, it may well be a scam as Google and Facebook have banned cryptocurrency advertising. If it looks like a scam, it’s a scam. And always check the FCA register for any broker you deal with.
Keep in mind too though that the cryptocurrency scammers make clone websites of real brokerages to scam you. So, double and triple-check any broker before sending money. A quick google search can save you from becoming a victim.
It is possible to make money investing in Bitcoin in the same respect that it is possible to make money investing in high-risk stocks. If you buy low, sell high, you will make money. But unlike investing in stocks where a company generates revenue and profits, Bitcoin has no underlying value so it is also possible to lose money very quickly by investing in Bitcoin.
Bitcoin is not illegal in the UK.
If you buy Bitcoin through a cryptocurrency exchange, they will have an option for you to sell it as well.
Never believe anyone who says they can make you rich or adopt trading as a career if you are a complete beginner. However, if you do want trading ideas, you can find news and analysis on Bitcoin here:
- Bloomberg
- Reuters
- TradingView provides excellent crypto charts and lots of users post trading ideas.
The current Bitcoin (CURRENCY:BTCGBP) price is £78,719.0412528686.
You cannot buy Bitcoin with PayPal at the moment in the UK. It’s worth pointing out that in the past, it has been possible to buy Bitcoin in the UK through PayPal. This used to be a really easy way to buy the crypto-asset.
However, right now, PayPal’s crypto purchasing service is temporarily paused while the company updates its system to comply with new UK regulations. So, at the moment, PayPal is not an option for those in the UK who are looking to buy the digital asset.
If you are buying Bitcoins, then you will require a Bitcoin address. This is a code to which the Bitcoins that you buy will be allocated. You can acquire an address by downloading a Bitcoin client to your computer or setting up an online wallet.
However, if you are happy to leave your Bitcion on an exchange you do not need a Bitcoin address.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
