Buy/Sell CryptoCurrency UK

How to buy and sell?

The easiest way to get involved in Cryptocurrency is to buy some coins and hold onto them.

In order to do this you will need to register with an exchange that allows you to deposit fiat currency (Pounds, Dollars, Euros etc). There are also some sites that link up buyers for cash purchases which I will touch on but the bulk of buying and selling is done on exchanges.

You will also need to register with an exchange if you are mining and want to sell your mining rewards for Fiat.

Popular Exchanges

Kraken

Kraken is a US based exchange with the highest volume of Euro trade for Bitcoin/Ethereum. Easy to withdraw Euros via SEPA with low fees.

UK – you can deposit in Pounds via Swift, due to bank fees this is only worth it for larger amounts.

Coinbase/GDAX

Coinbase is US based and easy to use for buying Bitcoin, Ethereum and Litecoin. You can purchase using a Debit/Card for instant purchases but only for smaller amounts. To withdraw you must first send a small amount to coinbase to verify your account.

UK – Deposits and withdrawals must be done in Euros using SEPA transfers or in Dollars. You currently cannot deposit or withdraw in Sterling.

Holding Coins (HODL)

It’s generally not recommended to leave any large amounts of Crypto in an exchange as they have been known to lose money in the past due to fraud, hacking etc.

This means you need a wallet so that you are in control of your private keys.

See the guide on wallets.

Finding Local Buyers & Sellers

Local Bitcoins

Local bitcoins is a P2P global bitcoin exchange that connects Bitcoin buyers and sellers across the world and acts as an escrow service. It is possible to buy privately but will vary between sellers. Local Bitcoins does not impose limits or dictate prices these are set by the users. Caution is advised when buying from the general public but there are plenty of highly rated sellers on the platform.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.