3 Ways To Get Crypto In The U.K.

by Marius H. Keep learning

Picture by Pixabay

Despite the United Kingdom's relatively smaller size than other countries, it's one of the biggest "friends" of digital tokens. According to the statistics, over two and a half million users purchased virtual money in the U.K., making it one of the most crypto-friendly countries.

The popularity of crypto in the U.K. is only increasing, especially given that the current prime minister, Rishi Sunak, is pushing the idea of switching to digital currencies. Thus, more people want to invest in crypto, seeing it as a great investment opportunity.

However, cryptocurrency is still relatively new, so not everyone is willing to invest. Moreover, it's extremely volatile and keeps increasing or decreasing in value. Just look at Bitcoin's price for the last two years - no wonder people are cautious. However, there are ways to buy cryptocurrency and people want to know how. They are willing to invest, so we will disclose the best three ways to get cryptocurrency in the U.K.

What Do You Need Before Investing?

Before you buy cryptocurrency, you need to store it somewhere. Crypto owners store cryptocurrencies in crypto wallets. There are two common types of wallets people use today:

Hot or software wallets. A hot wallet is an online virtual currency wallet that enables user crypto operations. A range of private keys kept on software connected to the web is utilized to store and transfer multiple currencies like ETH or BTC.
Cold or hardware wallets. A cold wallet is a device that is not linked to the Internet. Hence, it has a much lower chance of being hacked. A cold wallet is a piece of hardware; that's why they are often called hardware wallets. Sometimes people call them offline wallets since they are not connected to the Internet. They are clearly much safer than software wallets but more expensive.

There are also paper wallets, but we won't get into details since they aren't safe. If you plan to use crypto as an investment, buy a cold wallet and store the majority of coins on this piece of hardware. You can transfer a small portion of digital coins on a hot wallet. It should be enough to make purchases online or exchange for other cryptos. Yet, you can sleep calmly without worrying that a criminal will hack into your account and steal all the funds.

Now that you know how to buy a cryptocurrency and how to store funds, let's figure out where to buy cryptocurrency.

Top 3 Ways To Buy Cryptocurrency In The U.K.

When choosing a cryptocurrency to buy, choosing the right platform is critical. It should be a safe and secure platform to buy cryptocurrencies. Moreover, it must offer ease of use, lower fees, and other perks. Thus, here are the three best ways to purchase crypto in the U.K.

WhiteBIT

WhiteBIT is the biggest European crypto exchange that is used by over 3.5 million users worldwide. The platform offers more than 270 assets including 6 national currencies in over 350 trading pairs.

People can deposit cryptocurrencies from their crypto wallets or by using FIO requests and deposit national currencies right from the bank cards or via various merchants in just a few clicks.

The exchange is famous for claiming the lowest fees for trading operations while offering an extensive functionality and favorable passive income conditions. Beside the spot market, users can profit from futures trading with up to 20x leverage.

eToro

eToro is most recognized for its cryptocurrency trading, and it's one of the best platforms t choose if you live in the U.K. The trading platform makes it simple for consumers to buy or sell cryptocurrency.

To follow coin movements, eToro includes charts and analytical tools. Thus, you can easily understand what to expect from your investment assets. You may also make your watchlist and receive real-time updates.

eToro's social trading options allow you to connect with over twenty million crypto fans across the globe and imitate their success via the CopyTrader platform. Yes, it offers copy trade strategies so that you can expect steady profits.

Binance

Binance is popular in the United Kingdom and has over 100 million registered users worldwide! This exchange is great due to tiny fees, not least since you pay a 0.10% commission during every operation.

Moreover, if you deposit cryptocurrency, you will only be required to pay the network fee. Binance is also an excellent alternative if you want to actively trade digital currencies since the exchange has over 1,000 markets. Binance no longer accepts direct debit or credit card deposits. This means you would have to buy in cryptocurrency first and benefit from low fees later.

Final Thoughts

It's best to use reliable exchange and trade platforms to avoid being scammed. If some platforms offer you to purchase coins for a lower price than on the market, it may be a scam.