How to Buy Bitcoin in the UK? (7 Ways in 2024)

With cryptocurrency popularity booming in the UK, many newcomers find themselves wondering – how do I buy Bitcoin and other digital assets in Britain? Well, I wonder no more because, in this article, I’m going to walk you through the top seven cryptocurrency exchanges in 2024 that will allow you to purchase Bitcoin and a whole host of other crypto coins easily. By the end of this informative and entertaining read, you’ll be an expert on buying Bitcoin in the UK.

7 top exchanges to buy Bitcoin in the UK: A beginner’s guide to cryptocurrency in 2024

To help simplify things for beginners, here’s an overview of 7 top exchanges for buying cryptocurrency in the UK, along with their key features:

1. Binance – The world’s largest crypto exchange

Established in 2017, Binance has rapidly become one of the largest crypto exchanges globally and remains a top choice for UK crypto enthusiasts in 2024. With its huge variety of over 400 cryptocurrencies to choose from and some of the lowest trading fees around, Binance is a great first stop for new British crypto investors. The exchange utilizes a simple and intuitive interface that even crypto novices will find easy to use. Simply register for a Binance account using an email address and a strong password. You’ll then need to verify your identity by uploading ID documents before making deposits and trades.

Once logged in, you can purchase Bitcoin and other coins using funds from a linked bank account or debit card. Deposits are generally processed instantly, allowing you to take advantage of price movements quickly. While verification takes a bit longer, the wait is worth it to unlock Binance’s full suite of features. Just be sure not to leave any assets on the exchange for an extended time, as the old saying goes – not your keys, not your crypto! Binance also offers a trusted mobile app that allows easy crypto purchasing on the go.

To give you an idea of liquidity, Binance routinely trades over $25 billion in volume daily, giving buyers and sellers ample opportunities to execute orders smoothly. And with some of the lowest trading costs around thanks to the BNB token which provides fee discounts, newcomers can dip their toes in the crypto waters affordability on Binance. While not without its flaws, Binance remains one of the top crypto picks in Britain for its huge coin selection, low fees, and ease of use.

How to buy Bitcoin on Binance?

1. Create an account and verify your identity through photo ID.
2. Deposit funds via bank transfer, debit card, or payment apps like Skrill. Minimum deposit is £10.
3. On the “Trade” page, search for BTC/GBP in the search bar or find it listed under the “Fiat” section.
4. Input how much GBP you want to spend and click “Buy BTC.”
5. Withdraw your newly purchased Bitcoin to an external wallet when ready.

Visit Binance

2. MEXC – Global exchange with advanced features

As the twelfth largest exchange by daily volume internationally, MEXC has gained significant traction in the UK since launching in 2018. So, what draws crypto investors across the pond to MEXC in such big numbers? For starters, the exchange completely waives its usually nominal 0.1% spot trading fees – meaning you can buy and sell major coins like Bitcoin at zero cost. They’ve also got an enormous selection of nearly 2000 cryptos available for trading, far more than any other platform. This gives seasoned traders plenty of low market-cap gems to speculate on.

With its intuitive mobile app interface and advanced charting software to help analyze the markets, MEXC provides a full-featured experience that rivals any leading exchange. Although primarily known for its staggering zero-fee promotion, the platform maintains competitive rates even without discounts. Customer support could see improvement, but overall, MEXC is a top-tier, low-cost option for British Bitcoin and crypto purchases in 2024. With its competitive fees and a large selection of assets, MEXC is also a good option for those looking to “buy Bitcoin UK” or expand their cryptocurrency portfolio.

How to buy Bitcoin on MEXC?

1. Complete account registration and verify your identity.
2. Deposit funds using bank transfer, debit/credit cards, or crypto deposits.
3. Search for BTC/GBP in the “Spot” section and input your purchase amount.
4. Review order details and click “Buy” to make your purchase.
5. Withdraw your coins to an external wallet once the transaction is confirmed.

Visit MEXC

3. Kraken – Veteran exchange with excellent security

Based in San Francisco but hugely popular in Europe, Kraken has established itself as one of the most trusted and secure crypto platforms in operation today. Founded in 2011, it was one of the first digital asset exchanges – and it shows in its polished, professional interface. New UK users can feel assured knowing Kraken is licensed and regulated locally by FCA. Getting set up takes just a few minutes, and funds are insured in the event of a security breach.

Ready to get trading? Kraken boasts a selection of over 250 cryptocurrencies including BTC, ETH, and popular altcoins. Deposits and withdrawals are generally swift, with GBP transfers taking just minutes to arrive via Faster Payments. The exchange also offers advanced order types for those implementing complex trading strategies.

Kraken’s long track record, strong security practices, and polished platform make it an incredibly safe choice for UK Bitcoin buyers – albeit perhaps not the most budget-friendly. But with premium customer support available 24/7 and a stellar reputation, it’s considered one of the best exchanges in the UK.

How to buy Bitcoin on Kraken?

1. Complete the quick signup process and verify your identity.
2. Fund your account by bank transfer or debit card. Minimum deposit is £10.
3. Locate BTC/GBP in the “Trade” section and input your buy order.
4. Review order details and click “Buy” to make the purchase.
5. Withdraw your coins to an external wallet when ready.

Visit Kraken

4. Coinbase – Trusted beginner-friendly platform

The first stop for many new UK crypto investors has long been Coinbase. As one of the earliest mainstream platforms to make digital currency easily accessible worldwide, Coinbase brings brand recognition and easy usability that spurred mass adoption. Setting up a Coinbase account takes minutes, and purchases can be made instantly with linked debit cards or bank accounts. With support for over 240 cryptocurrencies and an intuitive mobile app, Coinbase is perfect for casual UK buyers.

However, the premium does come at a cost. While fees are typical at around 1.5% per trade, the exchange has come under fire in recent years over inconsistent customer support and service outages during periods of high volatility. Security practices like hardware wallet integration are also falling behind peers like Gemini. Additionally, fees on Coinbase’s Pro platform aimed at more advanced traders are still above average. All that said, Coinbase remains a leader for sheer accessibility – their simple sign-up funnel brought in over 10 million new crypto users last year. So it remains an ideal first exchange for UK starters, just maybe not long-term power traders.

An easy way for UK users how to buy Bitcoin in the UK is through Coinbase, as it only requires a few minutes to set up an account and link a payment method.

How to buy Bitcoin on Coinbase?

1. Sign up and complete identity verification, a quick process for most users.
2. Link a payment method like a bank account or debit/credit card.
3. Search for BTC and select “Buy” to make a purchase.
4. Input the amount you wish to spend and review order details.
5. Your Bitcoin will be available instantly once the transaction is confirmed.

Visit Coinbase

5. Crypto.com – Excellent perks for active users

After erupting in popularity throughout 2021, Crypto.com has rapidly become a household name worldwide. The sleek app-based platform offers credit and debit card purchases of 325+ cryptocurrencies with fees lower than PayPal. With its impressive 1% cashback Visa debit cards, earn rates on staked coins up to 14% APY, and aggressive referral bonuses, Crypto.com has successfully gamified crypto investing.

The exchange portion comes with standard 1.5% credit/debit card fees that are waived entirely for those who stake their native CRO token. Deposits and withdrawals are usually instant, and advanced order types like limit orders keep veterans happy. While the centralized nature of Crypto.com goes against the grain of decentralized roots, for casual UK traders its accessibility, cashback perks, and ease of use make it a no-brainer. Just be sure to practice good security hygiene as with any platform – Crypto.com certainly generates a juicy target for hackers thanks to their rapid rise to fame.

How to buy Bitcoin on Crypto.com?

1. Register and verify your identity through photo ID.
2. Transfer funds via bank transfer or debit/credit cards with low 0.8% purchase fees.
3. Locate BTC/GBP in the “Markets” section and enter your buy order.
4. Review details and click “Buy” to make the crypto purchase.
5. Withdraw your coins to an external wallet when ready.

Exchanges like Crypto.com allow UK investors to purchase Bitcoin and many other coins with low fees, making it a good choice for those wanting to “buy crypto UK.”

Visit Crypto.com

6. OKX – Powerful platform for experienced traders

Once a little-known player, OKX has since exploded to become one of the biggest exchanges globally, with over $4 billion in average daily volume. Their extremely powerful native trading platform is a serious draw for powerful UK traders. The “0”>

How to buy Bitcoin on OKX?

1. Complete a quick signup process verifying your identity.
2. Deposit funds through bank transfer or crypto for low 0.2% purchase fees.
3. Locate BTC/GBP in the “Spot” section and enter your buy order.
4. Review order details and click “Buy” to make the transaction.
5. Withdraw your Bitcoin to an external wallet when ready.

Visit OKX

7. Gemini – Regulated platform with insurance

Rounding out our top UK cryptocurrency exchanges of 2024 is Gemini, the pioneering exchange co-founded by Cameron and Tyler Winklevoss. What’s appealing about Gemini goes beyond their history-making status as crypto entrepreneurs – it’s their laser focus on security, compliance, and customer service that’s unmatched by competitors. New accounts are protected by bank-grade security, which includes platform encryption for assets, two-factor authentication, and institutional-level insurance.

On the user side, Gemini won praise with their simple mobile app and web interface while keeping an average of 0.25-1% fees for traders. A special ActiveTrader desktop platform further slashes costs to 0.35% for major volumes. Deposits and withdrawals are among the fastest, thanks to regulated banking partnerships, and 24/7 phone support is top-notch. Gemini even facilitates block trading of major coins for larger asset managers and institutions. While their 75+ coin selection may pale to others on this list, Gemini is the clear choice for security-conscious UK investors wanting peace of mind.

How to buy Bitcoin on Gemini?

1. Complete the registration process verifying your identity.
2. Deposit funds through bank transfer or debit/credit cards with competitive 0.25%-0.50% fees.
3. Search for and select BTC/GBP in the “Market” section.
4. Input your purchase amount and review the order details.
5. Click “Buy” to make the transaction and withdraw when funds are available.

Visit Gemini

The bottom line: These are the UK’s top 7 options for buying Bitcoin

As the popularity of cryptocurrencies continues to rise globally, exchanges in the UK have stepped up significantly to expand access and bring user-focused innovations to the industry. 2024 is shaping up to be another massive growth year as new institutional capital enters the scene. 

By now, you should have a good idea of the leading options for purchasing Bitcoin and altcoins in Britain based on factors like fees, selection, features, and reputation. For those looking to “how to buy Bitcoin UK,” exchanges like Binance, Crypto.com, and Coinbase are great options that make the process very simple. Whichever platform suits your needs best, have fun dipping your toes in the rewarding world of digital currencies.

If you want to increase the security of Bitcoin and your other crypto assets, consider checking our list of the best crypto wallets in the UK for 2024.