Buying Crypto in the UK

Buying crypto in uk is relatively straightforward and involves finding a regulated cryptocurrency exchange or broker, creating an account, verifying identity, funding the account (usually through linking a bank account or adding debit or credit cards, though these may have high fees), and then purchasing cryptocurrencies like Bitcoin and Ethereum. Once you have purchased cryptocurrencies, they are stored on the exchange’s platform in a wallet. You can then transfer them to a personal ‘hot’ or ‘cold’ wallet for more security, but this will incur an additional fee. Discover more

Some banks like Revolut, Monzo, and TSB offer cryptocurrency-related transactions and will support your investments on crypto exchanges, while others (including HSBC and Virgin Money) have policies that restrict or block such transfers. Cryptocurrency exchanges are also not protected by the Financial Services Compensation Scheme in the UK, so if your coins are stolen or lost they are unlikely to be recovered.

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In addition to buying cryptocurrencies on an exchange, you can also find a growing number of businesses and retailers in the UK that accept them as payment. This includes travel companies, fashion stores, online gaming platforms, and even Green Man Gaming, a supplier of the latest computer games.