Buying Bitcoin in the UK

10/01/2014 10:19:00 am Unknown 1 Comments

So you've decided to buy Bitcoin, and you have no idea how to get your hands on the stuff?



I was thinking about this today and decided to write a quick blog post to explain to people (beginners in particular) what they should expect from the journey into Bitcoin.

This is only for people in the UK, if you are based outside of the UK then I suggest you google 'BUY BITCOIN in xxx' obviously replace xxx with your country :) Also this has been written for OCT 2014, things change, and they change quickly so I will try to blog about this once every few months.

Buying Anonymously......


1)LocalBitcoins.com

If you don't want to give anyone your name, address, date of birth, bank details, D.N.A or shoe size, then simply open an account with these guys. you can chose to verify what you want and you can use TOR with this website. Look for adverts selling via cash deposit or cash in person. Once you've opened a trade you can talk to the seller and arrange to meetup or get their bank details to make the deposit. Crypto S.I sell on this platform and haven't had any problems buying and selling via this method. If you don't want to meet anyone then cash deposit is perfect.


2) BitBargain


The main issue I have with BitBargain is that there are not enough sellers and so prices are not quite as competitive as LocalBitcoins, however I've not personally used this service so I can't really comment, but as far as I know it's good and worth checking out.


Forfeiting your privacy...

If you are prepared to part with your privacy then there are some very good services available, usually these are not instant like the anonymous options but prices are usually slightly better 5%-10% discount roughly. There are some very professionally run exchanges available to use, I have picked out 3 which I am signed up to. Be ready to sign up and upload your personal identification documents. Also at the moment there are no UK banks taking payments on behalf of exchanges so you will have to pay SEPA or international transfer fees to upload your money.

1) Coinfloor

My last blog post was all about these guys, this is my usual exchange of choice, almost 1 year old and a really good service. The 2 best features are the simple clean interface, and the decent order book size.

2)Bitstamp

The Standard by which ALL exchanges are set. As far as I'm concerned Bitstamp was the first serious Bitcoin exchange, does that mean it's still the best? It definitely has the biggest order book of the 3 exchanges I use, and has all the security features that you would expect from a Bitcoin exchange. The only thing I'm not comfortable with is that the exchange is not UK based which does make me wonder what would happen if you had a problem with the service, but saying that I'm not aware of anyone who has had any problems with them, and considering how well used they are this is a great achievement. Sign up, upload your docs and buy or sell bitcoin.

3)Netagio


Netagio, the new kids on the block, but the first to have recognised standards implemented and audited, a very professional service, based in the UK. A decent sized order book considering how new they are, and they sell both Bitcoin(XBT) and Gold(Xau) on the same platform which is a nice twist considering most Bitcoin believers are also fans of gold. I rang these guys to ask a question, Local rate number and somebody answered, and to top it all off she answered my question, no holding or transferring or answer machines. I will do a full review on these guys soon.

4)Bittylicious


Bittylicious is not an exchange, but it is a way to buy Bitcoin quickly and easily. Unfortunately you do need to part with privacy for many of their options, but they provide so many different ways to pay, and most of them will have you receiving your coins very quickly. If you only want a small amount then you can buy anonymously. The prices are not as good as the exchanges, but for beginners Bittylicious is a good place to start. They also allow you to buy quite a few altcoins.


Best of the REST...

Basically, there is no 'rest'! Apart from mining (which is pretty much for hobbyists only), the only other ways of buying Bitcoin are usually too expensive for what they are worth or are provided by smaller lesser known companies. Other companies like Circle, don't accept deposits from UK. There are new companies cropping up all the time, so if I've missed anyone you feel is worth a mention then feel free to message me, or comment below.

Buying from Crypto SI

I Have an advert on Localbitcoin, you can buy from me directly here: Or click the advert on the right 

For latest news, follow my twitter here: https://twitter.com/Crypto_SI

Thanks for reading and welcome to the wonderful world of Bitcoin!








So you've decided to buy Bitcoin, and you have no idea how to get your hands on the stuff? I was thinking about this today and dec...

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