Many investors from the UK are curious about entering the cryptocurrency market, but it can seem daunting because of the various options and technical jargon. This article aims to break the procedure down into simple steps, and explore important ideas like wallets and exchanges. URL theinvestorscentre.co.uk

Firstly, it’s essential to find a crypto exchange that allows you to purchase Bitcoin in the UK using fiat currency (e.g. sterling). Once you have found a suitable platform, deposit funds into your account using your preferred method of payment. Next, navigate to the ‘Buy Bitcoin’ or ‘Trade’ section and specify the amount you want to buy. Once the transaction is complete, be sure to store your Bitcoin in a secure wallet.

How Can I Buy Crypto in the UK? A Beginner’s Guide

Coinbase is one of the most popular platforms to buy cryptocurrencies in the UK, thanks to its user-friendly interface and competitive fees (maker fees start at 0.08%, taker fees at 0.1% for UK users). The platform also offers the Coinbase Wallet, which lets you spend your crypto anywhere Visa is accepted, as well as an FCA-regulated UK bank account that supports deposits and withdrawals for free.

Investors should note that Bitcoin and other cryptocurrencies are treated as property in the UK, meaning that transactions with them can be taxed. In addition, HMRC can track your activities on crypto exchanges, and retaining your digital assets on an exchange can put you at risk of losing them if the platform gets hacked. As a result, it’s important to use a trusted, FCA-regulated crypto broker or exchange when purchasing your first crypto.