How You Can Buy Bitcoin in the UK
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Bitcoin is the big star of all cryptocurrencies.
It is now just over ten years since the digital coin was developed. Anyone who wants to buy Bitcoin (BTC) today gets to really try out the famous blockchain for the first time.
All information and transactions in the network are stored in this system of blocks. The resulting chain cannot be changed afterwards.
Gradually, the coin became relevant not only for computer freaks.
For profit-oriented investors slowly became interested in buying BTC. The enormous increases in value gave the world its first Bitcoin millionaires.
The big question now is how the market will develop in the future.
Buy Bitcoin: What should you look out for to buy Bitcoin cheaply & safely?
Bitcoin is still the most popular cryptocurrency among investors and definitely the top dog of all coins. But what is the best way to buy Bitcoin? What should you look out for? You should pay attention to the following points when buying Bitcoin so that nothing goes wrong:
Buy Bitcoin without registration: What to look out for
A little research in the market shows that there are definitely ways to buy Bitcoin without registering. However, you should pay attention to a few points to avoid falling for scams.
Where is the best place to buy Bitcoin? We clearly recommend taking the registration process upon yourself in order to be able to trade with Bitcoin in complete peace. The best way to do this is to use our test winner eToro,
Is it still possible to buy Bitcoins without registering? In principle, it is possible to buy Bitcoin without registering. However, we do not recommend using unregulated crypto exchanges on the internet. There are simply too many uncertainties here.
Can you buy Bitcoin without an ID card? Verification of data is part of the daily business for EU-regulated brokers. Nevertheless, you can also buy Bitcoin without the so-called KYC process in the vastness of the internet. In this way, you can get your tokens relatively anonymously in some cases, but you sacrifice far-reaching securities for this.
Is it worth investing in Bitcoin? In 2021, bitcoin is still one of the hottest investment goods. Whether the investment is worthwhile, however, ultimately depends on the trading skills and partly also on the luck of the respective trader. There is a risk
Where to buy cheap Bitcoin? Our broker and exchange comparison - buy Bitcoin with the lowest fees:
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Buying Bitcoin as an investment, means of payment or speculation
Buying Bitcoin as an investment, means of payment or speculationThe above-mentioned motivation for buying Bitcoin often determines the choice of the right platform.
If you want to use Bitcoin for its actual purpose as a real means of payment, it is advisable to transfer all purchased Bitcoins to your wallet and always have them available via the app.
Buying Bitcoin as an investment for opportunity-oriented investors is also still very interesting.
With sharp price fluctuations, there are also certain risks here, but also great opportunities. In March 2020, for example, you could buy a Bitcoin for €3589; currently the Bitcoin is at €10,000.
A full increase in value of approx. 270% would therefore have been possible, more than with any share!
In the following, we will therefore present various options that enable Bitcoin trading.
The best providers play just as important a role as the most important payment methods.
Buy Bitcoin with credit card, Paypal, Sofortüberweisung and more. Using the following Bitcoin buying instructions, every trader can get BTC in no time.
Buy Bitcoin - how to trade and where?
The big goal of Bitcoin was to be decentralised! This means you can ideally buy Bitcoin from anywhere in the world and with low fees.
The many different trading platforms are usually not set in the Federal Republic, but originate from other countries.
Many brokers are based in other European countries due to their licences, but crypto exchanges can be found worldwide. Binance, for example, comes from China and other representatives such as Coinbase are based in the USA.
The best app for buying Bitcoin
We can spare you further best lists at this point.
Our test winner also has mobile apps for Android and iOS devices that are highly usable. The Bitcoin Buy app can be used either for active BTC trading or for storing tokens.
To get an overview of available apps, it is worth taking a look at our comparisons.
Trading programmes are logically geared towards active trading, while financial apps can also provide information, management and other functions. Every trading app is basically a finance app.
Buy Bitcoin Guide to BTC Payment Methods
Buy BTC - the most important payment methods
Buy Bitcoin with credit card
Credit cards are the all-purpose weapons in online payment transactions.
Buying Bitcoin with a credit card
If you only want to initiate a Bitcoin investment with a credit card, you can consider brokers again.
They often have Bitcoin on offer (eToro). And so nowadays there are various ways that allow payment by credit card.
Whether other transaction methods are also accepted depends in detail on the respective offer. Basically, you can expect that mainly Visa and Mastercard services will be accepted.
In some cases, however, it will also be possible to use other credit cards.
Buy Bitcoin with Paypal
Paypal is the king of payment methods on the internet.
Many users expect particularly secure transactions due to the special buyer protection.
And indeed: if you look at the platform of eToro, for example, you will quickly notice that many traders like to make their deposits via Paypal. Buying Bitcoin with Paypal is also correspondingly popular.
After all, this is easy and uncomplicated.
In just a few seconds, the payment is completed with the login data from eToro. Beforehand, however, you must have set up an account and linked the PayPal account to your own bank account.
Why should I buy Bitcoin with Paypal?
Why should I buy Bitcoin with Paypal? Established and reliable
Known buyer protection
Payment via login
Indication for a renowned offer
If you want to invest in Bitcoin with your PayPal balance, the situation looks a little more complicated.
Especially in the early days of cryptocurrencies, there were some black sheep in the market. They shamelessly exploited the unclear regulation and the ignorance of traders.
At that time, it became clear that the highly praised buyer protection does not work with crypto payments. After all, Bitcoin transactions are only anchored in the blockchain. They can therefore no longer be traced.
The word crypto does not come about by chance. For many users, a major advantage of crypto payments is that they can be made completely anonymously.
On the other hand, this is unfavourable for PayPal's daily business. Private trading transactions using PayPal should therefore be avoided.
The company excluded buyer protection for such payments. At eToro, however, Paypal payments work without hesitation. Other methods for Paypal to Bitcoin purchases can still be found.
Buy Bitcoin with Paysafecard
The Paysafecard offers a prepaid way to make payments on the internet.
Buy Bitcoin with Paysafecard
The user is guaranteed a certain degree of anonymity. However, this is not necessarily conducive to crypto trading.
After all, the platforms are subject to strict regulations that are intended to prevent international money laundering. Therefore, it can be difficult to find a provider that allows you to buy BTC with Paysafecard. Platforms that allow a corresponding deposit are, for example, Virwox or Local Bitcoins.
Buying Bitcoin with a Paysafe card is therefore definitely possible!
However, you have to switch to smaller platforms that do not always offer the functions of the big industry leaders. Normally, you should also find enough payment alternatives that the absence of the Paysafecard is hardly noticeable.
Buy Bitcoin with a bank transfer
How do you use a bank transfer to buy Bitcoin?
Basically, you will have to reckon with somewhat longer waiting times, as the crediting of the amounts on the respective platforms cannot take place automatically.
Depending on the trader's bank, it might take 3-5 working days until you can dispose of your credit. Nevertheless, it is of course possible to use bank transfers to buy BTC.
The industry leader eToro has this payment option in its repertoire and other platforms also allow you to buy Bitcoin by bank transfer.
Of course, the same also applies to withdrawals. Wire transfer may seem outdated to some traders. However, the fact is that it is still one of the safest methods of online banking.
Can I buy Bitcoin without registering?
Nowadays, you can hardly find a regular provider that allows you to buy Bitcoin without registering. Once upon a time, Bitcoin was known as an anonymous form of storing value. Nowadays, this characteristic only applies to the cryptocurrency to a limited extent.
Nevertheless, there are one or two tricks to get BTC without identification or KYC or registration process. We have taken a closer look at how exactly this works in the following.
First of all, however, we would like to clarify what the terms ID, anonymity and KYC are all about and how they are related to each other.
Buying Bitcoin without ID
Buying Bitcoin without ID is basically nothing more than buying Bitcoin without ID. The abbreviation ID refers to identity; abroad it is simply used as a form of confirmation of a person.
This can mean either the identity card, but also the passport, driving licence and similar documents. To acquire Bitcoin in this way, one will have no choice but to resort to cash.
All other forms of online transactions are associated with personal data.
Buy Bitcoin anonymously
Those who can buy Bitcoin without identification will purchase the cryptocurrency anonymously. Anonymity therefore ensures that no personal data is transmitted to the seller or broker. Logically, however, you will have to provide a BTC address in any case, which is indispensable for receiving the tokens.
You can read more about this topic on our special page on buying Bitcoin anonymously.
Buying Bitcoin without KYC verification
The three letters KYC also describe an abbreviation. Here, the English terminology "Know your customer" is meant. The principle is proposed by the legislators and obliges companies, especially in the financial sector, not only to obtain the personal data of their customers, but also to verify it.
Verification is then carried out either by means of the PostIdent procedure or via online verification service providers. In this way, the politicians want to increase the protection of traders and prevent international money laundering.
Ways to buy Bitcoin without registration
We have taken a look around the market and actually discovered a few ways to buy Bitcoin without a KYC process. The following offers should in no way be understood as possible recommendations for obtaining the cryptocurrency. A reputable broker like eToro is much more suitable for this.
Those who still value buying Bitcoin without registering will now find the best providers.
The Local Bitcoin offer is a so-called P2P network. The marketplace thus allows direct trades by all market participants. The offer is not officially available in Germany, but you can help yourself with a VPN network.
You can then search for Bitcoin sellers on the platform. Although there is a percentage indication of the trustworthiness of each market participant, buyers do not receive any real security. The payment method is ultimately determined by the seller.
Registration is now also required on the KuCoin platform. However, you can at least buy Bitcoin without KYC. In the meantime, the offer has been modernised and users will also find their own app.
On the one hand, you can buy cryptocurrencies directly on the website, and on the other hand you can enter into P2P trading with fiat currencies. But here, too, caution is advised. The provider is not officially regulated. Therefore, there are no guarantees whatsoever if there are problems with the platform or other users.
Paybis is an online exchange that allows you to buy Bitcoin with different payment methods. You can use a credit card, but also Skrill, Neteller, a bank transfer or Bitcoin.
Registration is also required here, but you don't have to go through a KYC process or explicit verification to buy Bitcoin. Another sign of the company's seriousness is that it is based in Scotland.
However, the company does not provide its customers with an official licence as a financial service provider.
Paxful was once considered the possibility par excellence to buy Bitcoin with PayPal. In the meantime, however, the platform has numerous other transaction methods in its repertoire and makes them accessible on its P2P network.
This also makes it interesting for users who want to buy their Bitcoin as anonymously as possible. Because instead of credit card details or bank transfer details, you can use numerous gift vouchers for the transaction.
The Paysafecard is also included in the offer. Like Amazon vouchers, these can be purchased in supermarkets, petrol stations or various shops with cash. The fact that the whole thing is nevertheless not 100 per cent anonymous is explained in detail in our article on buying Bitcoin with Paysafecard.
The next provider in the series is called Coinmama. This crypto platform also allows its customers to buy Bitcoin without verification. The KYC process can be avoided, but here, too, there is no way to avoid registering yourself.
Coinmama has been on the market for some time, but the provider does not have a real banking licence.
We list the provider Bitquick here only for the sake of completeness. It is hardly usable for customers from Germany. Although it is one of the few possibilities to buy Bitcoin with cash, you have to deposit it at one of four US banks.
The bank then confirms to the crypto provider that the amount has been deposited, which releases the purchased BTC coins.
The WallofCoins website doesn't look really serious, but the provider does offer its users the possibility to buy Bitcoin without ID and with cash. Here, too, the money is deposited at a nearby bank.
All you need for the trade is a phone number, which serves as confirmation of the transaction. You also have to enter your e-mail address and set a password.
WallofCoins does not work without registration. An official licence from BaFin is not to be expected here either.
Bitfinex is one of the most prominent providers when it comes to buying Bitcoin without ID. However, there is no licence from a financial authority here either.
Nevertheless, the platform is one of the most traditional Bitcoin exchanges in the market. However, should the company go bankrupt one day, traders are not protected.
Buy Bitcoin without registration via Bitcoin ATMs
Buy Bitcoin anonymously offlineBitcoin ATMs are rare in the Federal Republic of Germany, but things look better in neighbouring Austria. With the right crypto credit card or partly regular Visa credit cards, you can make relatively anonymous Bitcoin deals here.
The big disadvantage, however, is that the number of BTC ATMs is very limited and is currently even decreasing in some locations. So the chances of having such an ATM in one's vicinity are relatively poor.
Risks of buying Bitcoin without registration and verification
At first glance, it may sound attractive that you can buy your Bitcoin anonymously and do not have to complete KYC, verification or registration.
However, a closer look reveals major risks, which is why we fundamentally advise against doing without these security mechanisms.
BaFin and other European authorities do not oblige financial groups to collect their customers' data for nothing. Such transparency in the market ultimately protects the clients themselves.
Anyone who abandons this insecure environment and operates on the net via an unregulated platform runs the risk of encountering fraudsters or being unable to exercise any rights in the event of insolvency.
Fraud is widespread in the market and therefore one should always prefer a reputable trading platform with a licence to supposedly good alternatives without supervision.
What are the restrictions on buying Bitcoin without registering?
Basically, it is possible to buy Bitcoin without registration, without ID, without verification or KYC procedures.
However, as should have been clarified on this page, the disadvantages and limitations outweigh the advantages.
If you use a BTC ATM, for example, then in many cases you will have to make a pilgrimage of hundreds of kilometres to the next big city to find such an ATM in front of you.
If you venture into the unregulated expanses of the internet, there are sometimes risks that you can hardly control personally.
In P2P networks, you run the risk of getting into the hands of a fraudster who collects the purchase price but then won't hand over any Bitcoin.
Other exchanges are not even available in Germany. Still other providers have been active in the market for some time, but do not provide any security (deposit protection) if the industry goes bankrupt, which is quite common.
Buying Bitcoin with the right wallet
Buying Bitcoin with the right walletWhen you look at the different options for trading on the desktop or in the Bitcoin buying app, the wallet question also arises.
Is a Bitcoin wallet really necessary or not?
It is hardly possible to give a generally valid answer to this question. After all, it all depends on whether you as a trader just want to invest or whether you really want to buy the digital coin.
So there is a difference between trading and regular buying.
CFDs are therefore very suitable for making a Bitcoin investment. If you use the services of eToro, 24Option or other similar platforms, then no wallet is actually necessary. This can also explain the popularity of the corresponding offers.
However, if you want to try your luck on exchanges such as Binance, Changelly or Coinbase, then you can hardly avoid a wallet. After all, the coins are only managed through such a wallet.
This digital wallet provides you with a Bitcoin address, which is necessary for receiving and sending the tokens.
Since you can often only trade online currencies on the exchange platforms, you inevitably need a few Bitcoins (or other coins) in advance in order to start trading.
Conclusion - Buy Bitcoin anonymously or with brokers?
In the Bitcoin Review you can see that there are many different ways to invest in Bitcoin. It does not matter whether you are in UK or in other countries to buy Bitcoin.
It is only of great importance to choose the right trading method. The question is therefore less "to invest in Bitcoin or not", but much more "where and how can I trade?
One provider stands out in particular. Our test winner allows for easily accessible Bitcoin trading.
In addition, CFDs are available and trading does not even require an already set up Bitcoin wallet.
Deposits are possible using various options and the popular payment method Paypal can also be used.
Buying Bitcoin with a credit card is also possible without any problems. So there is not much to be said against opening a Bitcoin account here.
Every trader should take advantage of the security of licensed providers. Buying Bitcoin anonymously would be an unnecessary risk.
Because where certain data is not transmitted, the risk of loss increases.
Scams like Bitcoin Profit show time and again that it is a good idea to reduce the risk to a minimum.
Our recommendation: Buy cryptos with eToro
- Incl. wallet
- Buy and sell cryptocurrencies directly in the wallet
- Paypal, credit card and instant bank transfer
- Regulated provider
- Real cryptos or CFD trades
To this day, it is still not known who is behind the pseudonym Satoshi Nakamoto. There is no official explanation. Only myths surround this founder and even unusual names like Tesla boss Elon Musk appear on the long list of candidates.
Quite a few experts and observers assume that the success story can be continued even further. However, there are also more critical voices. Considering that the digitalisation of the world is still increasing (keyword: Internet of Things), we will probably actually need systems that are designed by Bitcoin or Bitcoin-like networks.
The list of currencies is long. Anyone who invests here should carefully consider which coin they trust to have a successful future. Ripple, IOTA or Ethreum are often said to have good prospects. From 2019, it will probably also depend very much on the benefits of the individual coins. If they can also be used in the economy in the long term, then the tokens should be able to emancipate themselves from being a purely speculative commodity to an online currency with real value.
It would undoubtedly be nice to be able to buy Bitcoins without having to register. Theoretically, this is also possible if you want to venture into private trades. So if you agree with an acquaintance or friend that BTC should be exchanged, then you can also buy Bitcoin without registering.
However, this is only really recommended if there is a great deal of trust between buyer and seller. After all, there are undoubtedly security concerns. Serious platforms will thus not allow the user to buy BTC without completing a registration. This serves the general security of all parties involved and is therefore not objectionable. It makes no difference whether one uses a bitcoin buying app or trades on a desktop.
Blockchains are known for enabling anonymous transactions. This is because the data is transferred to the database in encrypted form. But is it also possible to buy Bitcoin without verification? There are certainly various providers who promise precisely these services.
However, caution is advised in this area. If one is lured with fast registration procedures, then there is a certain risk. For example, that you will have to deal with a dubious platform. Of course, one does not want dubious offers such as Bitcoin Revolution , The News Spy or similar, to lead to quick and large losses. Therefore, it is recommended to take the verification upon oneself. It will give you fundamental advantages in daily trading.
Of course, the effort is not to be underestimated, but the arguments for confirming personal data are so weighty that they are worth the effort. Security therefore comes first.
Yes, they are just two names for a stock exchange. The German stock index or NASDAQ from the USA are also stock exchanges. Here, the market regulates the price and determines the price through the principle of supply and demand. The same principle applies fundamentally to Bitcoin, even though external market influences can have a high impact on demand. Volatile prices are a characteristic of crypto trading platforms.
Offers must always be assessed according to one's own needs. However, eToro is a suitable platform for many traders due to its many years of experience and simple trading. The provider's established position and the fair minimum deposit of only €200 ensure good general conditions. The fact that Paypal is also accepted as a means of payment is a real speciality in the crypto market. This results in a clear test winner, which is presented in the large Bitcoin & Crypto Exchange comparison.
Classic trading via brokers does not require a wallet. Derivatives use the coins as assets. However, trading on exchanges will hardly be possible without a digital wallet. This point can also be an argument in favour of certain providers. Those who want to avoid setting up their own crypto wallet should consider registering with eToro or similar brokers.
Some traders may be interested in Bitcoin Loophole experiences. However, special caution is advised here. The providers of automatic trading software sometimes operate in a dubious milieu. The fact that the Bitcoin Trader is also accused of fraud is not an isolated case. You should therefore check very carefully whether robots like Bitcoin Investor are reputable. However, such accounts are in no case more than an experiment.