Best place/Cheapest fee to buy Bitcoin UK – Reddit

Where’s the best place to buy Bitcoin at the moment, in the UK? By best I mean safe and trustworthy, and purchased to store in Electrum wallet, not CoinBase et al.

I’ve used Bittylicious in the past (years ago), and I see they’re still going.

I know I could Google/Bing/DDG but I’d value user opinion.

Coinfloor, Bittylicious, LB and the Bisq exchange are all good options in UK.

We launched a few weeks ago and are hoping to disrupt the likes of Coinbase with a number of key features:

We’re one of the first crypto trading platforms to secure supportive UK banking

Currently, we can offer 4 cryptocurrencies for you to trade between: Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

Please know that we do offer our services in UK.

We welcome clients from all over the world, with a very few specific exceptions due to international and local financial regulations.

Thank you.

Ive heard Kraken is good but looks like it needs to be SEPA.

Im looking for something that i can buy with normal bank transfer.

Coinbase has this for UK.bank transfers are always free and takes about 1 or 2 hours for me.

Order a free Revolut card (download the Revolut app for your phone) once it arrives, transfer money to it from your bank, then convert it to euros in the app, then send it to coinbase. I use this method and don’t have a card at all.

Bank to Revolut, convert to EUR in app, transfer SEPA to Coinbase fee free, transfer to Gdax (same company so free), purchase via limit order on Gdax. No fees at any point all the way through.

I’ve done bank > revolut > euro > coinbase > gdax. Great for minimising fees, however, it can take a few days; in which time the price of bitcoin shoots up like 20% (wanted to buy on the dip after the china crisis, just before it shot up).

I’m looking to withdraw crypto worth a couple of thousand (GBP) from Binance.

I’ve read alot of horror stories, so not sure what the safest method is.

Revolut seems the easiest but I’ve heard of accounts getting blocked.

So,

Does anyone have experience of sending this amount into their Revolut account and then withdrawing into their GBP account?

Do you think transferring from Binance to Coinbase, then coinbase to GBP account would be safer from your experience?

I got into crypto around October, initially I just wanted to buy BTC and hodl but I found about trading and making little more money.

I borrowed 10k from family and friends to invest, i was doing good making little profit from day trading. Then I entered few bad trades, coupled with BTC price dump I lost 6k as things stand.

Do I have to tell HMRC and pay tax? ..

Ok so I’m looking to get about £530 worth of bitcoin which is about 0.11 bitcoin.

I have the money on my card, and wondered what the best website would be to buy these bitcoin and put them into my wallet. Is there any precautions I have to take to make sure I don’t get mugged off and it’s all safe. Thanks for any feedback

This! Just be sure to create your own wallet and keep your funds safu after you acquire it 🙂

Ask around your communities to see if anyone has Bitcoin that they want to sell to you. Alternately, find some local Bitcoin groups and attend a meetup or something.

Ok thank you, this is what we usually do, but our mate currently has no bitcoin and we need some now, so gonna have to buy some

Easiest is just to buy on coinbase.

Despite the subreddit full of complaints, it’s easy to use and quite reliable, at least for SEPA transfers in Europe. Plus if you register at GDAX too (also part of Coinbase) you’ll pay no fees.

Get a Revolut account. Top it up in GBP via your debit/credit card or via domestic GBP bank transfers (they support Faster Payments, I believe). Send EUR via SEPA from your personalised IBAN to Kraken and trade BTC/EUR.

The exchange rates you get with Revolut when converting between currencies is the best available interbank rate during forex trading hours (i.e. during work hours Monday to Friday, not in weekends or on holidays) and there are no fess for conversion or topups.

This question gets asked a lot on this sub, so I decided to make a comprehensive guide, should serve as a good guide for anyone in the UK who wants to get into bitcoin, so please do refer any beginners here.

Hi I’m having an error at 3:22 in your video, instead of proceeding, Revolut says “Request for your bank transfer has failed”. Another redditor had the same problem, but how it was resolved isn’t clear.

Edit: Solved it! Comment from youtube says you need to activate your EUR wallet on Revolut, see videoschmo’s comment below:

“For anyone struggling, you active your “Euro account” on Revolut like this: Press lines in top left of screen, press EURO under active accounts, follow steps”

Have you got one for selling? Getting money out seems harder than getting in 😮

I can make another guide, but it is the exact same process in reverse.

works well and is like an escrow, so pretty safe.

LocalBitcoins has been in business for YEARS and still going strong.

Do not risk your money, be safe.

You could try CoinCorner.

We’re UK based, accept a variety of payment methods and have customer support available to help.

The easiest way is Coinbase + debit card (so you do not have to link a bank account (which, as requiring a SEPA transfer cost a lot).

Hi u/queencrypto, Molly from CoinCorner here. We have a dedicated support team on hand to help if you need it 🙂

I built a guide for buying Bitcoin in the UK – hopefully it’s what you’re looking for? https://howtobuybitcoinseasy.com/

LocalBitcoins has been in business for YEARS and still going strong.

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