Best Bitcoin Brokers in the UK – Compare the Best Places to Buy Bitcoin
In order to buy Bitcoin in the UK, an account will need to be opened with an online broker that specializes in crypto purchases.
The best platforms in this space offer a combination of low fees and small account minimums, alongside support for debit/credit cards and a safe trading environment.
In this guide, we compare the best Bitcoin brokers in the UK to consider today.
Each of the above UK Bitcoin brokers comes with its own benefits and drawbacks. Therefore, before selecting a provider, be sure to read our comprehensive Bitcoin broker reviews.
Comprehensive Reviews of the Best Bitcoin Brokers in the UK
To assess the merits of a UK Bitcoin broker, investors will need to explore a range of important metrics.
This includes the regulatory status of the broker, the number and types of markets offered, and what fees will be applicable when depositing funds and subsequently buying Bitcoin.
Below, we take these core factors into account and more by reviewing the best Bitcoin brokers in the UK right now.
1. eToro – Overall Best Bitcoin Broker in the UK
eToro is not only the best Bitcoin broker in the UK, but the platform also offers access to alternative markets – such as stocks, ETFs, forex, commodities, and indices. Most importantly, eToro is authorized and regulated by the FCA, and non-crypto assets (such as stocks) are covered by the FSCS.
Additional regulation comes from ASIC, CySEC, and the SEC. It takes just minutes to get started with eToro and the broker supports a range of easy payment methods – which includes debit and credit cards, e-wallets like Paypal and Skrill, and UK bank transfers.
The minimum deposit required by eToro when opening an account in the UK is $10 (about £8). This means that eToro is potentially viable for those on a budget. After making a deposit, investors can then proceed to buy Bitcoin or begin trading via the demo account. The latter comes with a pre-loaded balance of $100,000 in paper funds.
When it comes to fees, eToro charges 0.5% on GBP deposits, which is one of the lowest in this industry – especially when it comes to debit and credit cards. eToro also charges a fee of 1% when buying and selling Bitcoin. In comparison, popular crypto broker Coinbase charges a debit/credit card fee of 3.99% and a standard commission of 1.49%.
The minimum Bitcoin purchase at eToro is a mere $10 – which is also the case with stocks and ETFs. Upon buying Bitcoin, the tokens will be stored in the eToro web crypto wallet – which offers the perfect blend between safety and convenience. The process of selling Bitcoin at eToro is just as simple as buying, as it is just a case of placing an order to cash out.
On top of Bitcoin, eToro supports more than 90 other crypto assets. This includes everything from Ripple, BNB, and Ethereum to EOS, Dogecoin, and the Sandbox. There are many more 2,500 commission-free stocks at eToro too, from the UK and international markets. eToro is also popular for its Smart Portfolios, which offer a passive way to trade.
In a nutshell, Smart Portfolios will track a predefined market, such as crypto or renewable stocks. The portfolio will be managed by eToro and rebalanced on behalf of its investors. eToro also allows its users to copy the trades of seasoned investors. This is another passive trading feature that will suit time-starved or inexperienced users.
eToro also offers a popular trading app – which is free to download. Compatible with both iOS and Android devices, the eToro crypto app enables users to buy and sell assets on the move. eToro also stands out when it comes to research and analysis. This is inclusive of technical indicators and chart drawing tools.
This also includes fundamental research materials – such as recent news and market insights. eToro will perhaps suit those that wish to learn the ropes of Bitcoin and crypto investing, as it offers an educational suite. This offers beginner guides and videos on the basics of trading, alongside frequent webinars. All in all, we found that eToro is the best cryptocurrency broker in the UK.
What We Like About eToro:
- One of the best crypto exchanges UK that is regulated by the FCA
- Buy Bitcoin and 90+ other crypto assets
- Low fees and support for debit/credit cards and e-wallets
- Passive investment tools – including Copy Trading
- Very user-friendly platform and simple investment process
|Top 3 Features||FCA-regulated, low fees, perfect for beginners|
|Debit card fee||0.5%|
|Fee to buy Bitcoin in the UK||1%|
|Minimum deposit||$10 (about £8)|
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
2. Crypto.com – Top Bitcoin Broker for UK Bank Transfers
The next option to consider on our list of the best Bitcoin brokers in the UK is Crypto.com. This popular crypto exchange is utilized by millions of traders around the world – many of which are based in the UK. Crypto.com enables UK residents to deposit GBP fee-free via a bank transfer.
Although the transfer is free of charge, do note that it can take 1-3 days for the funds to arrive. UK investors that prefer to use a debit/credit card for an instant payment can also do so at Crypto.com – but this will attract a fee of 2.99%.
Either way, Crypto.com will suit active Bitcoin investors that wish to trade regularly. The reason for this is that the exchange charges a standard commission of just 0.4%. As such, for every £100 traded, UK residents will pay a commission of just 40p. By holding CRO tokens – which is the native crypto asset of this exchange, lower fees are offered.
Crypto.com is also one of the best Bitcoin brokers in the UK for creating a diversified portfolio. Investors will have access to over 250 crypto assets here. This includes a good blend of altcoins, metaverse projects, DeFi coins, ERC-20 tokens, and even stablecoins.
Each and every digital asset can be purchased at this exchange in safety, as Crypto.com is heavily regulated. The exchange is also renowned for its institutional-grade security features, which ensure that client accounts remain safe at all times. In addition to its primary exchange, Crypto.com is home to an entire digital asset ecosystem.
For example, Crypto.com offers interest accounts that enable investors to deposit their idle tokens for the purpose of earning a yield. The APYs offered will vary depending on the crypto asset (e.g. Bitcoin), the terms (flexible, 1-month, or 3-month), and whether or not CRO tokens are being staked.
Nonetheless, long-term investors might consider buying Bitcoin and transferring the tokens into the Crypto.com interest account to earn fixed income alongside capital gains. Moreover, Crypto.com offers instant loans at an LTV of 50%. This means that by depositing £1,000 worth of Bitcoin, the investor can obtain a loan of up to £500 without going through a credit check.
When it comes to storing Bitcoin, Crypto.com also offers a DeFi wallet. This gives users full control over their private keys and Bitcoin tokens, as well as offering the ability to swap digital assets in a decentralized manner. Crypto.com also offers an NFT marketplace – which enables buyers to invest in new and old collections without paying any commission.
What We Like About Crypto.com:
- Free GBP deposits via a UK bank transfer
- Buy Bitcoin with a debit card
- Mobile app supports instant debit/credit card payments
- More than 250 crypto assets supported
- Earn interest on Bitcoin deposits
|Top 3 Features||Bitcoin interest accounts, 250+ markets, Low fees|
|Debit card fee||2.99%|
|Fee to buy Bitcoin in the UK||0.4%|
|Minimum deposit||$20 (about £16)|
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
3. Binance – Low-Commission Bitcoin Broker for Advanced Traders
Binance is a large crypto exchange with more than 100 million registered users. The platform offers access to Bitcoin alongside 600 other digital assets. This includes pretty much all top-100 coins for market capitalization, alongside a diversified range of small-cap projects.
Getting started with Binance is very straightforward too – as accounts take less than two minutes to open. After uploading some ID, UK residents can proceed to buy Bitcoin with a debit or credit card at a fee of 1.8%. This works out at £1.80 for every £100 worth of Bitcoin purchased by the investor.
It is also possible to deposit funds via a UK bank transfer without paying any fees at all. However, do note that Binance has previously had issues with the FCA and as such, its payment facilities are often suspended. Nonetheless, once a deposit has been made, investors can buy and sell Bitcoin and other supported digital assets at a commission of just 0.1%.
This makes Binance one of the cheapest places in the UK to trade Bitcoin. By holding the exchange’s native digital asset – BNB, lower fees are on offer. Binance might, however, be more suited to experienced investors that seek high-level trading tools. The trading interface can be somewhat intimidating for newbies, as it is packed with analysis tools and charts.
Binance offers a mobile trading app for both iOS and Android too, which is free to download. Users can log into the Binance app with their standard account credentials, which makes trading on the move seamless. Binance also offers crypto interest accounts, which include Bitcoin.
The APY offered on Bitcoin is 5% but only up to the first 0.01 BTC which, as of writing, amounts to approximately £200. The rate then drops down to 0.8% for balances between 0.01 and 0.5 BTC, and 0.105 for anything above this threshold. Just like Crypto.com, Binance also offers a pre-paid debit card that is backed by digital currency.
This means that UK investors can use the Binance card in the real world, which includes in-store and online purchases, alongside ATM withdrawals. Binance also offers crypto loans and the highest LTV is offered on Bitcoin deposits. Binance has since expanded into NFTs, with the exchange offering a fully-fledged marketplace for creators, buyers, and sellers.
What We Like About Binance:
- Low trading commissions of just 0.1%
- More than 600 altcoins supported in addition to Bitcoin
|Top 3 Features||Free UK bank transfers, 0.1% commission, 600+ coins|
|Debit card fee||1.8%|
|Fee to buy Bitcoin in the UK||0.1%|
|Minimum deposit||£15 (debit/credit card payments)|
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
4. Bitstamp – Trusted Bitcoin Broker Established in 2011
Bitstamp is the option to consider on our list of the best Bitcoin brokers in the UK. This platform stands out for many reasons, albeit, what many investors like is the longevity of Bitstamp. Put simply, Bitstamp was first launched in 2011, which makes it one of the most established Bitcoin brokers in this space.
Although the KYC (Know Your Customer) process is slightly slower at Bitstamp when compared to the likes of eToro and Crypto.com, investors in the UK will appreciate the number of payment options supported. For example, UK bank transfer deposits are fee-free, while withdrawals cost £2 per transaction – regardless of how much is being cashed out.
Although debit and credit cards, alongside Google Pay and Apple Pay, are supported too – this attracts a fee of 5%. As such, those wishing to use a standard Visa or MasterCard to buy Bitcoin in the UK will be better suited with eToro. Nonetheless, Bitstamp is competitive when it comes to trading commissions.
The exchange operates a rather unusual market maker/taker fee structure, where no commissions are charged when trading less than $1,000 (about £800) in a 30-day period. However, monthly trade volumes of between $1,000 and $10,000 (about £8,000) will attract a fee of 0.30%.
Therefore, Bitstamp seems to reward lower trading volumes, which will suit those on a budget. In addition to Bitcoin, Bitstamp enables traders in the UK to buy and sell over 75 crypto assets. The minimum trade size of £10 per order, so diversification can be achieved without breaking the bank.
In terms of security, Bitstamp keeps 98% of client digital assets in cold storage at all times. This is offered in conjunction with address whitelisting and encrypted personal data. The exchange offers customer support on a rolling 24/7 basis, alongside a mobile trading app for both iOS and Android devices.
For experienced investors, Bitstamp has integrated its platform to include TradingView charts. This presents all of the tools required to perform advanced technical analysis in real-time. Finally, Bitstamp also offers staking tools, which, as of writing, is offering an APY of 4.2% and 5% on Ethereum 2.0 and Algorand respectively.
What We Like About Bitstamp:
- Established in 2011
- 98% of coins are kept in cold storage wallets
|Top 3 Features||Established in 2011, 98% of coins are kept in cold storage, no commissions for 30-day volumes of under $1,000|
|Debit card fee||5%|
|Fee to buy Bitcoin in the UK||From 0%|
5. Coinbase – Popular Bitcoin Broker for Beginners
Coinbase is perhaps one of the best Bitcoin brokers in the UK for those without any previous experience in buying digital assets online. The first step required when using Coinbase is to open an account and bypass a somewhat clunky KYC process.
Nonetheless, once the verification process is complete, it is then possible to buy Bitcoin with a debit or credit card. The transaction will be processed instantly and BTC tokens subsequently added to the investor’s portfolio in real-time. With that said, Coinbase charges 3.99% for the pleasure of using a debit or credit card.
As we noted earlier, the same transaction at eToro will be charged at just 0.5%. UK investors can also consider depositing funds via a bank transfer, which is free of charge. This won’t, however, appeal to those that wish to buy Bitcoin instantly, as the transaction can take several days to clear.
Moreover, although the bank transfer itself is fee-free, UK investors will still need to pay a commission of 1.49% to buy and sell Bitcoin. In addition to Bitcoin, Coinbase lists more than 100 alternative coins – ranging from Ethereum and Cardano to Shiba Inu and Solana. Coinbase also offers staking services for those wishing to generate a yield on their investments.
When it comes to safety, Coinbase is considered a highly secure option. It keeps 98% of client funds in cold storage wallets, and it is mandatory to set up two-factor authentication. This means that the only way to log into a Coinbase account is to confirm a unique code that is sent to the user’s mobile phone.
There is also an IP address and device whitelisting, which is an extra layer of security. Coinbase also offers a popular mobile app, which is compatible with both Android and iOS. This offers the opportunity to buy and sell crypto at the click of a button. Long-term investors might appreciate the recurring buy feature at Coinbase.
This enables UK investors to buy a certain amount of Bitcoin at predefined schedules. For example, £50 each and every Friday. In total, Coinbase notes that more than 103 million verified users have an account with the broker across over 100 countries. As a user-friendly broker, it makes sense that Coinbase offers a wealth of educational tools that help first-time investors.
Coinbase has also launched an NFT marketplace, albeit, this isn’t attracting any notable trading volumes at this moment in time. Finally, Coinbase also offers a decentralized wallet app, which allows users to take full control and responsibility over their private keys.
What We Like About Coinbase:
- User-friendly platform will appeal to beginners
- Secure wallet for storing Bitcoin
|Top 3 Features||Newbie-friendly, top security, 100+ coins|
|Debit card fee||3.99%|
|Fee to buy Bitcoin in the UK||1.49%|
|Minimum deposit||No minimum stated|
6. Huobi – Trade Bitcoin and 500+ Other Digital Assets
Active crypto investors might also consider Huobi, which is one of the best Bitcoin brokers in the UK for asset diversity. The platform is home to more than 500 digital assets, all of which can be traded with low fees. Standard commissions amount to just 0.20% per slide when trading at Huobi.
This means that for every £100 traded, a commission of just 20p will be collected. Lowers fees are offered for higher trading volumes – which are calculated over a 30-day period. In order to buy Bitcoin at Huobi, investors will first need to open an account and complete a standard KYC verification process.
The latter can be achieved by uploading a copy of a passport or driver’s license. After all, UK investors will be able to deposit GBP via a bank transfer. Huobi does not charge any fees on UK bank transfers and the minimum deposit is £8. In order to deposit GBP with a debit or credit card, the payment will go through Simplex.
This is a third-party payment processor that is known for charging a fee of between 3-5% of the transaction amount. Either way, after buying Bitcoin, the tokens will be added to the Huobi web wallet. It is best to withdraw the tokens out of Huobi and into a private Bitcoin wallet for maximum security.
The reason for this is that Huobi is not regulated by the FCA. With that being said, Huobi does have a number of rock-solid security practices in place. For example, it has a reserve fund of over 20,000 BTC in the event of a hack. Moreover, the platform claims that it has not encountered a security incident for nine years.
The majority of client funds are kept in cold storage wallets too for added security. Taking these security practices into account, it comes as no surprise to learn that Huobi is used by more than 10 million clients from over 200 countries. Huobi is also one of the best Bitcoin brokers in the UK for mobile trading.
Its iOS and Android app can be downloaded free of charge and it offers most of the features found on the desktop platform. Additional products and services offered by Huobi include crypto interest accounts and loans. Regarding the latter, there are no interest accounts specifically offered on Bitcoin deposits at this moment in time.
What We Like About Huobi:
- More than 500+ coins supported
- Lots of trading features and analysis tools
|Top 3 Features||Free GBP bank transfers, 500+ coins, low commissions|
|Debit card fee||Determined by Simplex – usually 3-5%|
|Fee to buy Bitcoin in the UK||0.2%|
|Minimum deposit||£8 via bank transfer|
7. Kraken – Great All-Round Bitcoin Exchange With Plenty of Features
Kraken is an established Bitcoin exchange that was first founded in 2011. This exchange offers a wide variety of crypto-centric services that will perhaps appeal to investors of all experience levels. The initial step at Kraken is, however, to open an account and upload some ID.
After that, UK investors will be able to add funds to their newly created Kraken account via a bank transfer. The minimum deposit amount is somewhat high at £100 and there is a fee of £1.95 on each transaction. UK bank account withdrawals also attract a fee of £1.95.
Kraken notes that although not guaranteed, UK bank transfers typically arrive on a same-day basis. Once the money arrives, UK investors can then proceed to buy Bitcoin at a commission of 1.5% per slide. However, if completing the transaction via Kraken Pro – which is aimed at experienced investors, the commission is reduced to just 0.26%.
Kraken lists more than 100 digital assets in addition to Bitcoin, which will appeal to investors that wish to diversify. Kraken also offers an NFT marketplace but again, the exchange is expensive. Each buy and sell order when trading NFTs amounts to 2%, which is in addition to a 0.01 ETH withdrawal fee.
Kraken is also popular for its staking services. Examples of APYs on offer include 4-6% on Cardano and 4-7% on Ethereum 2.0. Back to Kraken Pro – this advanced trading interface offers high-level charting tools and technical indicators, alongside custom order types.
The Kraken mobile app is also worth downloading to an iOS and Android device, as this enables trading on the move. Kraken also enables investors to set up crypto watchlists and real-time pricing updates. Finally, Kraken offers customer support on a 24/7 basis.
What We Like About Kraken:
- Trusted reputation in the global Bitcoin industry
- Top-rated mobile app
|Top 3 Features||Great mobile app, 100+ coins, staking tools|
|Debit card fee||N/A for UK traders|
|Fee to buy Bitcoin in the UK||From 0.26% (Kraken Pro)|
|Minimum deposit||£100 via bank transfer|
Comparison Table of the Best Bitcoin Brokers in the UK
Investors can refer to the comparison table below when selecting the best Bitcoin broker in the UK for their requirements:
|Bitcoin Broker||Min. Deposit||Debit Card Fee||Fee to Buy Bitcoin||Top 3 Features|
|eToro||$10 (about £8)||0.50%||1%||FCA-regulated, low fees, perfect for beginners|
|Crypto.com||$20 (about £16)||2.99%||0.40%||Bitcoin interest accounts, 250+ markets, Low fees|
|Binance||£15 (debit/credit card payments)||1.80%||0.10%||Free UK bank transfers, 0.1% commission, 600+ coins|
|Bitstamp||£10||5%||From 0%||Established in 2011, 98% of coins are kept in cold storage, no commissions for 30-day volumes of under $1,000|
|Coinbase||No minimum stated||3.99%||1.49%||Newbie-friendly, top security, 100+ coins|
|Huobi||£8 via bank transfer||Determined by Simplex||0.20%||Free GBP bank transfers, 500+ coins, low commissions|
|Kraken||£100 via bank transfer||N/A for UK traders||From 0.26% (Kraken Pro)||Great mobile app, 100+ coins, staking tools|
Investors in the UK are advised to do their own research - as the above table is only correct at the time of writing and thus - can change at any time.
What is a Bitcoin Broker?
In a nutshell, a Bitcoin trading broker is an online platform that enables UK investors to buy and sell crypto assets. Just like a conventional stock broker, this means that the entire investment process is taken care of. This can make the process of buying and selling Bitcoin in the UK seamless.
Before getting started, however, the Bitcoin broker is legally required to ask new users to open an account. This requires basic personal information and contact details of the respective client. Moreover, to ensure that the provider complies with the regulations and guidelines set out by the FCA, Bitcoin brokers will ask new users to upload some ID.
This is typically just the case of uploading a copy of a passport or driver's license. Some brokers will also ask for proof of address and in this regard, most traders in the UK will opt for a recently issued bank statement or utility bill. Once the account is verified, the Bitcoin broker will then enable the user to deposit funds in GBP.
Depending on the Bitcoin broker, UK residents might have the option of adding funds via an instant debit/credit card or e-wallet payment. Most Bitcoin brokers in the UK will also accept a bank transfer. Once the brokerage account has been funded, it is then just a case of completing the Bitcoin purchase.
It goes without saying that just like stock brokers, Bitcoin providers in the UK charge fees. This will often consist of a deposit fee alongside a trading commission. The latter is usually charged on a percentage basis that is then multiplied by the investor's stake.
Crucially, it is important to choose a Bitcoin broker that is authorized and regulated by the FCA. This is why we like eToro - as the broker offers a safe way for UK residents to invest in crypto assets. Just remember, however, that FSCS protection in the UK does not cover Bitcoin investments - even if the broker is regulated by the FCA.
Crypto Brokers vs Exchanges
The terms crypto 'brokers' and 'exchanges' are often used interchangeably. In many ways, both brokers and exchanges in the UK offer the same core product - they enable investors to buy and sell Bitcoin from the comfort of home.
However, the way in which the investment is handled differs depending on whether the investor opts for a Bitcoin broker or exchange.
The best Bitcoin brokers in the UK offer a 360-degree service to investors. This means that the investor simply needs to open an account, add some funds, and subsequently buy Bitcoin.
- As a result, the investor is essentially buying Bitcoin directly from the broker.
- In reverse, this means that when the investor decides to sell their Bitcoin tokens, they will be sold back to the broker in question.
In the UK market, Bitcoin brokers are typically regulated by the FCA - but this isn't always the case, so investors are advised to check before choosing a provider.
Furthermore, Bitcoin brokers usually have the legal remit to accept GBP payments via a debit/credit card and bank transfer.
In comparison, Bitcoin exchanges are essentially an intermediary between buyers and sellers. The exchange will offer a solid framework that enables traders to engage with the markets - such as real-time pricing and order books.
- However, unlike Bitcoin brokers, exchanges live or die by the amount of liquidity that they are able to attract.
- After all, in order to buy Bitcoin, there would need to be a seller(s) at the other end of the transaction.
- Not only that, but the seller(s) would need to be willing to accept the price that the buyer wishes to pay for Bitcoin at an amount that covers the entire investment stake.
Due to legal loopholes surrounding crypto assets, Bitcoin exchanges often operate without the required regulatory approval. This is why UK investors are better protected when using FCA-licensed brokers.
Tips on Selecting the Best Crypto Broker in the UK
As per the comprehensive reviews we have provided on this page, no two Bitcoin brokers are the same. While some are great for accessing advanced trading tools and features, others prioritize low fees and commissions.
Therefore, the most effective way to select the best Bitcoin broker in the UK is to spend some time researching the many providers in this space.
Below, we offer some tips on what to look out for during the research process.
Regulation & Security
We have stressed many times throughout this guide that the best Bitcoin brokers in the UK are in full receipt of a regulatory license. More specifically, it is important for UK-based investors to opt for a broker that is authorized and regulated by the FCA.
- Licensing Bitcoin brokers is a long and cumbersome task, as the UK's primary financial watchdog is known for its stringent approach to regulation.
- This includes requirements for UK crypto brokers to be transparent in the fees they offer and ensure that suitable risk warnings are provided to retail investors.
- Moreover, FCA-regulated brokers like eToro are expected to meet minimum capital requirements.
At the other end of the spectrum, there are many Bitcoin exchanges offering a service to UK investors without a regulatory license at all. This adds unnecessary risk to an industry that is already driven by speculation.
Tip: FCA-regulated brokers will typically display their licensing number towards the bottom of their website. It is therefore wise to verify this directly on the FCA register.
After verifying that the Bitcoin broker is adequately regulated, UK investors should explore what fees they will be required to pay.
Deposit and Withdrawal Fees
First, check what deposit fees apply across the broker's supported payment methods. Debit and credit cards typically command the highest fee, as brokers are often concerned with the risk of chargeback requests.
- eToro charges 0.5% on debit and credit card payments, compared to the 5% charged by Bitstamp.
- Coinbase charges 3.99% while at Binance, Visa, and MasterCard payments cost 1.8%.
The best Bitcoin brokers in the UK will also accept bank transfers. At Crypto.com, UK investors can deposit funds in this manner without paying any fees.
Don't forget to check withdrawal fees too - as this can differ from standard deposit charges.
In addition to deposits and withdrawals, Bitcoin brokers charge commissions. This is charged when investors buy Bitcoin and again when cashing out.
To offer some insight into what to expect, Crypto.com offers a standard commission of 0.4%, which can be reduced when staking CRO tokens or trading larger amounts. In comparison, Coinbase charges 1.49%.
Depending on the objectives of the trader, some investors in the UK will seek specific tools and features to enhance to investment experience.
When researching the best crypto brokers in the UK, some of the most notable tools offered include the following:
Copy Trading and Smart Portfolios
At eToro, which we found to be the overall best Bitcoin broker in the UK, investors have access to two popular investment tools that promote passive trading.
First, there is the Copy Trading tool. This enables UK investors to mirror the investments of a seasoned Bitcoin trader. In other words, every time the selected investor buys and sells an asset, the same position will be copied over to the user's eToro account. The minimum outlay to use the Copy Trading tool is $200 - or about £160.
Second, there are Smart Portfolios. These operate in a similar nature to managed funds, insofar that eToro will hand-pick a portfolio of assets that aim to track a specific market. This includes several Smart Portfolios that exclusively track crypto assets like Bitcoin and Ethereum.
Each Smart Portfolio will be rebalanced and reweighted on behalf of investors and the minimum capital outlay is $500 - or about £400.
Both Copy Trading and Smart Portfolios will suit UK investors that do not have the confidence to trade Bitcoin and other crypto assets independently.
Charts and Technical Indicators
Although perhaps more suitable for advanced traders, the best Bitcoin brokers in the UK that we reviewed today offer a range of charting tools.
This includes real-time pricing on Bitcoin movements, alongside the ability to customize the chart to suit the individual trader.
Moreover, experienced investors should expect to have access to chart drawing tools and technical indicators like RSI and MACD.
Interest Accounts and Staking
Another top-rated tool that we came across when reviewing the best Bitcoin brokers in the UK is crypto interest accounts. As the name implies, this enables investors in the UK to earn interest on their Bitcoin holdings.
This means that long-term investors can earn a regular yield while still targeting capital appreciation.
- We found that Crypto.com is the overall leader when it comes to crypto interest accounts - both in the case of the yields on offer and the choice of terms available.
- Regarding the latter, Crypto.com offers flexible interest accounts with instant withdrawals, alongside one and three-month terms for higher APYs.
In addition to interest accounts, top Bitcoin brokers in the UK will also offer staking tools. This operates in much the same way as depositing tokens into an interest account, albeit, the funds are locked into a blockchain network.
The target market of a Bitcoin broker can and will vary considerably. For example, platforms like Binance and Kraken are arguably more geared toward seasoned investors that wish to buy and sell Bitcoin via an advanced trading suite.
On the other hand, platforms like eToro and Crypto.com are favored by beginners that simply want to gain exposure to Bitcoin for the first time.
This is why it is important to spend some time researching the usability of a Bitcoin broker prior to opening an account. After all, newbies will want to avoid making a deposit into a brokerage account only to find that the platform is too complex to use.
Another thing to check when searching for the best Bitcoin in the UK is the type of payment methods accepted.
The easiest way to buy Bitcoin is by making a debit or credit card deposit - which is both fast and secure. E-wallets like Paypal are supported by a select number of brokers too.
Many of the Bitcoin brokers discussed today only support UK bank transfers. The benefit of opting for this payment type is that the transfer will often be fee-free. However, bank transfers can take several days to clear.
Step-by-Step Walkthrough on How to Use a UK Bitcoin Broker
Inexperienced investors can refer to the walkthrough below when using a Bitcoin broker for the first time.
The step-by-step guide explains how to register an account and make a deposit, before investing in Bitcoin via a buy order.
Step 1: Open an Account With eToro
First, visit the eToro homepage and begin the account registration process.
The investor will need to choose a username and enter their primary email address. Next, enter some basic personal information when prompted.
After that, eToro will need to verify the identity of the new account holder. This takes less than a minute and simply requires the investor to upload a copy of their passport or driver's license.
Note: The KYC process can be completed at a later date if the initial first-time deposit is below €2,000 (about £1,600).
Step 2: Deposit Funds
The next step is to add some funds to the newly created eToro account. The minimum deposit for UK residents is $10 (about £8).
Instant deposit methods include Visa, MasterCard, Paypal, and several other e-wallets. Bank transfers can take at least one working day to clear.
Step 3: Find Bitcoin
eToro lists more than 90 crypto assets. As such, the easiest way to find Bitcoin is to use the search bar at the top of the screen.
As per the image above, after we type in 'Bitcoin', the correct market loads from the top of the search results. Next, click on 'Trade' next to Bitcoin.
Step 4: Invest in Bitcoin
After clicking on 'Trade', eToro will popular an order box - like in the image below.
The investor will need to enter their total investment stake from $10 upwards.
To complete the investment and have the Bitcoin tokens instantly added to the eToro portfolio, click 'Open Trade'.
Step 5: Cash Bitcoin Investment Out
At any given time, the eToro investor can cash their Bitcoin investment out via their portfolio.
eToro will execute the trade at the best available market price.
The funds will then be added to the user's balance - which can be withdrawn back to the same payment methods that were originally used to make a deposit.
To conclude, we found that the best Bitcoin brokers in the UK will be authorized and regulated by the FCA, and offer competitive trading fees and commissions.
eToro is a notable Bitcoin broker to consider today, as the FCA-licensed platform requires a minimum deposit of just $10 (about £8), and debit/credit card payments attract a small fee of 0.5%.
eToro also offers a variety of tools to aid newbie investors, such as Smart Portfolios and Copy Trading.