How to Buy Bitcoin in the UK in 2021

Feb 25, 2021 | Bitcoin101 | 0 comments

If you’re looking for information on how to buy Bitcoin in the UK in 2021, you’ve come to the right place. We’ve taken a look at the options and weighed them up in order to provide you with the best service when it comes to stacking sats. Here we’ll be covering the best methods of buying Bitcoin, particularly when it comes to using bank transfer, credit / debit card, as well as a local payment processor. Let’s dive in!

How To Buy Bitcoin Via Bank Transfer – Coinbase

One of the biggest crypto exchanges out there, Coinbase offers the perfect solution for UK residents to buy Bitcoin via bank transfer. Users can look forward to a wide range of cryptocurrencies with high liquidity and buying limits. The platform also charges a flat 1.49% fee on all transactions.

In order to buy Bitcoin through Coinbase you will need to set up an account and then link your UK bank account. This can be done by going to Settings and selecting Payment Methods. Once you’ve linked your UK bank account you can make a GBP deposit. From Portfolio, select the Deposit option in your GBP wallet, where you will then be provided with the relevant banking details and reference number. In the process you will be asked to verify your UK ID and mobile number associated with your Coinbase account.

How To Buy Bitcoin Via Credit / Debit Card – Bitpanda

Based in Austria, Bitpanda offers UK residents – and many others all around the world – the opportunity to buy Bitcoin via credit / debit card. BitPanda offers a cheaper alternative to other platforms offering this payment option, while still providing a fast and reliable service.

To get started, you will need to create an account on Bitpanda. Once you’ve verified your email address, you will need to complete a short KYC procedure, after which you are free to buy BTC. Select Deposit to load up your GBP wallet and choose the credit / debit card option under Payment Provider. Then click Go To Summary and Make A Deposit and enter the SMS pin just sent to you. Once your GBP wallet is loaded, select Trade in the top right hand corner and then Buy. Select Bitcoin and enter the amount you’d wish to purchase and select Buy Now. The funds will reflect in your BTC wallet once the transaction has been executed.

How To Buy Bitcoin With A Local Payment Processor – Paxful

When it comes to buying Bitcoin with a local payment processor, nothing could be simpler than using Paxful and Stripe. With this global cryptocurrency exchange and the reputable payment processor you can have Bitcoin in your wallet within the hour! 

Simply find an offer selling Bitcoin through Stripe and complete the order. You can do this by choosing Stripe as the mode of payment and entering the amount of Bitcoin you’d like to purchase along with your preferred currency, and click Search for Offers. You will need to set up a Paxful account and follow the necessary KYC verification process. The platform makes use of escrow services to ensure that all trades are safe and secure. Follow the instructions listed once you’ve found an offer you are happy with and make payment through your Stripe account. Alternatively, there are multiple payment options on the platform if Stripe is not your first choice.

How to Buy Bitcoin in the UK in 2021

That concludes our list of the best of the best when it comes to how to buy Bitcoin in the UK in 2021. With the Bitcoin markets front, line and centre of mainstream media at the moment, we can’t blame you for wanting to get involved. In fact, we applaud you. Stay tuned for more informative insights into navigating the crypto industry with our world renowned Bitcoin 101 section. 

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