How to invest in Bitcoin UK
There are a number of ways to buy cryptocurrency in the UK. The most straightforward is to use a crypto exchange that supports GBP deposits and trading. Most exchanges have a “Buy/Sell” section that allows you to purchase or sell Bitcoin in exchange for fiat currency, such as the UK’s pound sterling (GBP).
How to invest in Bitcoin UK you have an account on a cryptocurrency exchange, you can start making purchases. You will need to verify your identity to complete the process, which typically requires uploading a government-issued ID and proof of address. This helps to prevent fraud and ensures the exchange is complying with anti-money laundering (AML) regulations. The verification process can take a few minutes to several hours, depending on the exchange’s system.
How to Invest in Bitcoin in the UK: A Step-by-Step Guide
Another way to buy Bitcoin is through an exchange-traded fund (ETF) that tracks the price of the coin. However, UK financial regulators restrict these ETFs to professional investors, so this option is not available to private savers.
You should also keep in mind that any gains you make from purchasing and selling Bitcoin are taxable. The exact taxation you will pay depends on whether you consider your cryptocurrency holdings to be capital or income.