Discover The Best Place to Buy Bitcoin UK (Top 9 Sites to Buy Bitcoin in 2023)

A List of the Best Places to Buy Bitcoin for November 2023

1. eToro – Overall best place to buy bitcoin UK
2. IG – Best place to buy bitcoin for advanced Traders
3. Coinbase – Best site to buy bitcoin for beginners
4. SwitchMarkets.com – Best site to buy BTC & improve your trading skills
5. Uphold – Best place to buy BTC & trade multiple assets
6. CoinSmart – Best site to sell & purchase bitcoins
7. Kraken – One of the safest places to buy bitcoins
8. Binance – Best Site to Purchase Bitcoin in UK With No Fees for Deposit & Withdrawal
9. Robinhood – Cheapest Place to Buy Bitcoin UK

What Is Bitcoin?

In 2009, Bitcoin launched the digital trading phenomenon as we know it today, and it remains the most popular currency of its kind worldwide.

Bitcoin’s popularity sets it apart from all other digital currencies; over time, it has moved closer and closer to what we recognise as a currency, rather than a virtual anomaly.

Unlike many of its peers, bitcoin can be exchanged for fiat currencies like the US dollar and euro. It has greater liquidity than other digital currencies, meaning the loss to its inherent value is minimal when it is converted.

Bitcoin is widely accepted and can be used to purchase many everyday items, from a holiday on Expedia to a website domain with WordPress. The virtual money can also be exchanged with other private users in payment for services, or perhaps to pay off a debt.

From a practical point of view, bitcoin is often easier to use than fiat currencies. Its transaction fees are low when compared to institutions like PayPal or credit cards and, when making transactions that cross international borders, none of the additional fees usually associated with ATM withdrawals abroad, international money transfers or credit card payments apply.

Bitcoin is stored in digital wallets – coin storage which is secure and houses information surrounding ownership of the units being stored.

Those starting out need to make a decision on which wallet to store their funds in.

Some exchanges offer a free wallet but other platforms that sell bitcoin may require you to have a wallet in place before you make a purchase.

Comparison Chart for Best Sites to Buy Bitcoin in November 2023

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of IG retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Don’t invest in unless you’re prepared to lose all the money you invest.

Note: The information provided in the chart may be subject to change over time, and it is recommended that you verify the information with the respective websites before making any investment decisions.

Description of the Best Sites to Buy Bitcoin in November 2023

We’ve put together a list of our top 9 places to buy bitcoin. Some are exchanges, some are platforms to buy from but not sell back to, and others are physical ATM-style structures.

Whichever way you plan to buy your bitcoin, you must do your homework to ensure you understand how the company operates.

We’ve listed 9 best sites to buy bitcoin and, for each entry, we’ve highlighted what we think the company does best.

There are numerous places to buy bitcoin available and we would always recommend that you conduct your own thorough research and due diligence before making your own personal choice.

Although we have listed several providers below, it should be noted that this is through online research, not personal experience.

At WikiJob, we are not financial advisors and any information provided throughout this article is for educational purposes only.

Best for: Beginners

CFD is not available in the United States. US users cannot trade CFDs.

The eToro website is one of the best sites to buy bitcoins, as it contains a wealth of information on the details of buying bitcoin, making this exchange well suited to those just starting out in bitcoin trading.

Traders who sign up with eToro get a virtual trading account with $100,000 in it to allow them to practise strategies before trading with real money.

The company also offers trading courses and features a Learning Lab which houses a variety of tools to support clients with their trading experience.

In the UK, eToro is regulated by the Financial Conduct Authority (FCA) and money is kept in tier one European banks. Unlike other exchanges in this list, eToro supports deposits and withdrawals to and from external wallets.

A seamless process for buying bitcoins with eToro, combined with the platform's ease and security, makes it a top choice for those interested in investing in bitcoin.

To find out more, read our eToro review.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Best for: Regulation

IG is often considered one of the best places to buy bitcoin for several compelling reasons:

IG is a well-established and reputable online trading platform with a history spanning several decades. This long-standing presence instills confidence in users who are looking for a trustworthy platform to buy bitcoin.

IG is regulated by multiple financial authorities in different jurisdictions, including the Financial Conduct Authority (FCA) in the UK.

This regulatory oversight ensures compliance with industry standards and provides users with a higher level of security.

IG's platform is known for its user-friendly interface that caters to traders of all experience levels. Whether you're a beginner or an advanced trader, the platform is designed to be intuitive and easy to navigate.

IG offers a regulated environment for trading Bitcoin, adhering to regulatory standards and offering a level of legitimacy to the cryptocurrency trading process.

Best for: Keeping your money safe

Based in California, Coinbase is one of the leading crypto exchanges in the world and a popular choice when buying bitcoin. The company offers both a wallet (which is free) and an exchange for customers.

According to Coinbase, 98% of digital currency is stored offline in vaults and safe deposit boxes. The company also has a 48-hour withdrawal cancellation option in place to protect users from fraudulent activity and offers investors the option of adding a second person’s name to the approval list for added withdrawal security. Additionally, Coinbase withdrawal limit is not capped.

Coinbase accepts payment by credit and debit card and charges a flat fee of $3.99 for the privilege – low cost compared to other US and UK exchanges.

The Coinbase debit card supports around nine cryptocurrencies at the time of writing and automatically converts it when you want to use fiat currency.

The card is free in the US but in the UK, a fee of £4.95 applies. There are also other fees applied for things like withdrawing more than the daily limit or using the card abroad.

Make sure you check the related fees before using the card.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Best for: Improving trading skills

With Switch Markets you can trade Forex, CFDs, Crypto, Commodities and more on either a live trading account or a demo account.

This regulated broker offers ideal trading conditions no matter what your style of trading.

You have the choice of a zero commission account or a zero spreads account, and you can deposit as little as $50 to start trading.

There’s even leverage up to 1:500 available if you want it.

Unlike most brokers that offer a VPS, Switch Markets will give you a high-spec VPS completely free with your trading account – this is well worth it if you are an EA trader.

Read its reviews and you will see that its customer support is exceptional and available around the clock – something often overlooked when choosing a broker.

Withdrawals and deposits are fast too. Choosing Switch Markets as your broker is one of the fastest way to buy bitcoin.

This is an ideal broker for those looking to improve their trading skills.

There are cashback promotions, free trader tools and EAs (such as Risk Manager) when you open a demo or live account.

It has partnered with some of the best trading education providers to give you free membership to a world-class education – fantastic for beginner traders.

A broker to check out!

Best for: Trading multiple assets

Uphold was launched in 2015, and since then it has handled more than $4 billion in transactions, trading in 184+ countries with more than 30 currencies.

Uphold allows clients to trade directly between different asset classes in one transaction – so you can trade anything to anything.

With Uphold, you can trade 58 digital currencies, precious metals like gold, silver, platinum and palladium, as well as fractional equities in shares of US companies like Amazon, Tesla and Apple.

Uphold also focuses on Socially Responsible Investing (SRI) by providing an opportunity to trade on carbon tokens for more than just a financial return.

New traders will like the transparent pricing – there are no commission or account fees, and no withdrawal or deposit costs, but the trading fees are built into the spread. Uphold will present a complete price for each trade that includes fees, so you will know exactly what the trade will cost.

Uphold has a quite simple trading platform that is available on the web, as a desktop application and on mobile.

Uphold also offers a debit card option, where you can pay for goods and services using any asset in your portfolio – and earn cashback as well as crypto on your purchases.

Uphold makes it simple to buy, sell and trade bitcoin including bitcoin and 57 other altcoins.

The simple format of the one-click transactions makes this perfect for beginner traders as well as those who have more experience – there are more advanced trading tools available for the savvy investor, including AutoPilot where you can schedule recurring buy/sell transactions.

The 0.8–1.2% spread cost is all that you will pay on a transaction, and there are no other commissions or fees.

Uphold makes it simple to buy, sell and trade bitcoin including bitcoin and 57 other altcoins. So if you are wondering where to buy bitcoin without much hassle – Uphold can be the right place for you.

Best for: Selling & purchasing bitcoin

CoinSmart was founded in 2018 and is a trading platform designed to make buying and selling bitcoin easy for those living in Canada and beyond.

Highlights of the CoinSmart platform include a simple interface, learning tools and 24/7 support, alongside enterprise-grade security and reporting tools for tax auditing purposes.

Users can deposit with CAD, EUR and USD, using Interac, wire transfer, SEPA and crypto, and there are nine cryptocurrencies available to trade.

The trades are all commission-based, with 0.20% on a single trade, and 0.30% on a double trade.

The Education Hub is a collection of articles, blogs and how-to guides that can help beginners learn about trading. 24/7 support is available through a comprehensive FAQ section, as well as email and live chat options.

For the advanced trader, different trading tools are available including limit orders and stop loss, as well as read time charting and customised orders with order book functionality.

The basic account has all the functionality needed to make trades, but there is a Premium account aimed at professional traders that adds OTC trading, preferential pricing and a dedicated account manager to the basic account.

Many users consider CoinSmart to be the best way to buy bitcoin because the platform is designed with the idea that bitcoin trading should be accessible to everyone.

One-click trading and straightforward pricing alongside great educational resources help to make the whole process simple.

The platform is secured using 2FA, and there are strict KYC/AML regulations in place to ensure that all user data is verified. Most of the assets are held in cold storage, to help protect them from hackers.

There is not much choice of cryptocurrency available on CoinSmart, but the client support and the easy-to-use interface make this a great platform for new and experienced traders in Canada as well as other countries.

Best for: Safety

Kraken is a bitcoin exchange that places itself as 'on the forefront of the blockchain revolution since 2011'.

Styled as a crypto exchange for everyone, there is a whole Resource Center full of the basics of trading bitcoin.

The feature-loaded interface is easy to use for beginners, and the long and short-term investment strategies, including margin and futures trading, are suitable for the more experienced investor.

The exchange has fees that are volume-based and investor friendly, with bigger trades attracting 0% trading fees – but the exchange is very upfront about the costs involved with buying and selling Bitcoin on a maker-taker structure.

Kraken allows deposits to be made in bitcoin, and accepts the following fiat currency:

• USD
• EUR
• CAD
• JPY
• GBP
• CHF
• AUD

Accounts can be funded by wire transfer and SWIFT, but not through credit and debit cards. Thus giving you the option to buy bitcoin with bank account directly.

The Starter Account allows basic deposits, exchanges and withdrawals for bitcoin, and just needs basic information like name, date of birth and address.

The Intermediate and Pro accounts allow for withdrawals into fiat currency but need more Know Your Customer (KYC) information like a valid Social Security number, photographic ID and proof of residence.

With the Pro account there are higher limits and access to the anonymous ‘dark’ trading pool and over the counter desk for large transactions.

The Kraken mobile application is available for both iOS and Android, allowing for simple buying and trading of bitcoin and full use of trading strategies.

Best for: Currency choice

Binance is one of the world’s leading exchanges providing the best way to buy bitcoin UK.

Binance has free deposit and withdrawal fees for UK customers and a 0.1% trading fee.

The company is well known for supporting a wide range of digital currencies which means bitcoin traders have a vast array of options for trading multiple currencies.

Best for: Keeping costs to a minimum

Robinhood allows users to buy and sell bitcoin free of charge, thus being fairly considered the cheapest way to buy bitcoin by many of its customers.

The company has only recently introduced a web version, having been solely mobile-based, so is better suited to those who are comfortable using their phone to manage their money.

Currently Robinhood is only accessible to US clients.

Despite bitcoin not being recognised as a currency in every instance, it is still money and you should treat any bitcoin transaction with the same consideration as you would if you were signing up to a new credit card or loan – you’d want to know everything, from associated fees to security before deciding where to buy BTC.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Where Can I Buy Bitcoin in November 2023?

There are several different places to buy bitcoins; some people will buy it as an investment through a traditional broker or an online broker.

There are specific exchanges that have been developed to deal with bitcoins and other altcoins, and this might be the best place to buy bitcoins for beginners.

When you are deciding on the best place to buy bitcoins, there are a few things that you might want to bear in mind.

These include:

Easy Access

Can you buy and sell your bitcoin through an online portal or using a smartphone app? Is the exchange available 24/7?

Payment Types

Does the platform accept different payment types, like cards, bank transfers and eWallets like PayPal?

Is there a delay when you want to withdraw your holdings?

Are the Fees Reasonable?

The platform will make a small amount of money from each transaction you make, and the value of this might be a deciding factor when for choosing the best platform to buy bitcoin.

Trading fees are only part of the equation though; you will also want to consider whether there are any other fees like monthly account management fees, inactivity fees, or fees for withdrawals.

Is It Safe?

Regulation in bitcoin exchanges is not as strong as in other trading platforms, but you want to try and look for a trusted platform that offers decent security options, such as 2FA and cold storage.

Consider the quality and responsiveness of customer support. An exchange that provides timely and helpful assistance can be beneficial in case of any issues or inquiries.

Research the exchange's reputation in the crypto community. Look for user reviews, ratings, and feedback on reliable platforms or forums.

For example, eToro is a good bet for a traditional trading broker that offers bitcoin, while Coinbase is a highly rated, dedicated crypto exchange. Both can be considered a safe place to buy bitcoin.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

What Is the Safest Way to Buy Bitcoins in 2023?

As previously mentioned, bitcoin and other bitcoin purchase sites remain largely unregulated, which can be a concern when you are looking at safety.

However, certain safety aspects are built into reputable bitcoin platforms that should be reassuring, especially if you are sharing personal or financial information with them.

The best Bitcoin exchanges will have built-in wallet options, which is important when you are dealing with a currency that has no physical form.

Most exchanges store the vast majority of bitcoin in so-called 'cold storage', which means that there is no connection to the internet, making this safe from hackers.

A small amount of bitcoin holdings will be in a hot wallet, and this is a percentage of coins that supports the liquidity of the exchange and for things like withdrawals and transfers.

Wherever you choose, you want to be sure that they are using the latest in encryption technology, such as 2FA and SOC-2 certification to help protect your holdings from the risk of hackers.

Always remember that bitcoin trading in general is a volatile market and that any purchase you make can only be risky and speculative – so you must be sensible in the amount that you invest to protect your financial security.

How Much Does It Cost to Buy Bitcoin?

If you had got into Bitcoin when it was first launched, you might have been given the altcoin for doing something simple like completing a Captcha – but the value of a Bitcoin has grown hugely in the intervening years.

The cost to buy one BTC depends on the market value when you go to buy it – and this value will go down as well as up.

The top price for one bitcoin was nearly £50,000 in 2021.

However, you don’t need to invest that much to get involved in Bitcoin, as fractional coins can be purchased.

The smallest denomination of a bitcoin is known as a Satoshi, named for the creator of Bitcoin. One Satoshi is equivalent to one hundred millionth of a bitcoin, or 0.000000001 BTC.

The minimum fiat equivalent of BTC that you can buy will depend on the platform that you are using, and the minimum deposit that you need to make to use the service.

For some platforms that can be as low as £10 or $10, but others might require a higher initial investment.

How to Buy Bitcoin

The first step to buying bitcoin is to sign up for an account on a bitcoin exchange or through a broker.

You can choose this based on what suits your needs most at the time. You’ll need ID to open an account, which helps to keep you and your finances safe.

Once you have an account set up, you can decide how you are going to purchase bitcoins, whether you are going to use fiat currency through your credit or debit card, or whether you want to exchange another cryptocurrency for it.

The best bitcoin exchanges will usually have step-by-step instructions for you to be able to complete your purchase, and then you can decide what you are doing with your holdings.

For more info on how to purchase bitcoins check our article here.

Frequently Asked Questions

Final Thoughts

Choosing a bitcoin exchange and wallet can be complex.

Reading reviews written by other traders can be very useful when it comes to making sure an exchange is as good as you think it is – pros and cons featured in comparison articles online can alert you to areas of the exchange’s website you need to look at more closely to get the full picture.

Don’t invest in unless you’re prepared to lose all the money you invest.

WikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.