Buy Bitcoin (BTC) in the UK with bitFlyer

Although Bitcoin (BTC) is gaining popularity as an alternative currency, buying bitcoin may not always seem like a simple process. You can’t simply go to any bank and withdraw your funds in BTC.

If you’re wondering, “Where can I buy Bitcoins” or “How do I buy Bitcoins”, this is your guide. Here, we’ll lay out everything you need to know to buy BTC in the United Kingdom and start investing.

What is Bitcoin (BTC) or Bitcoin basics

Before we go further, let’s take a closer look at BTC basics: 

What is Bitcoin?

Bitcoin, also known as BTC, is the pioneer cryptocurrency (e-money). There are no paper bills or coins of BTC. Instead, all transactions are settled electronically. As a decentralized, peer-to-peer network, no single institution or person controls it.

What’s different about Bitcoin?

Unlike other cryptocurrencies, Bitcoin was created as a virtual currency that could be used to make payments no differently than pounds, dollars, or euros. The majority of other virtual currencies were mainly developed as part of gaming or e-commerce sites and are targeted at improving customer retention and increasing profits.

Although there are now some alternatives to Bitcoin as a functional cryptocurrency, Bitcoin’s value and its high rate of adoption worldwide make it a hot asset. At the moment of writing, it’s £7,589.82 and it was as high as £14000, nobody knows what will be next (The original value of one Bitcoin when it launched in 2009 was £0.0006.) 

Are you now wondering how to buy Bitcoins in the UK? Let’s check it out. 

Typically, there are several ways to buy BTC. The most common are:

  • Via a Bitcoin exchange. 
  • Via Bitcoin ATMs. Today, some ATMs in many countries offer the option of buying BTC with cash directly at the console. 
  • Peer-to-peer. Bitcoin can be bought or traded directly by individuals without an online exchange. 

How to buy Bitcoin (BTC) with bitFlyer?

With bitFlyer, it’s simple to purchase your first Bitcoins in the UK. Follow a few simple steps to get started and soon, you’ll be able to buy your first BTC with euros.

  • 01. Create an account on bitFlyer
  • 02. Verify your account and fill in all the required information to prove your Identity. That’s it, now, you can proceed with the Bitcoin purchase.
  • 03. Check out the most current bitcoin cost.
  • 04. Determine how much BTC you need. Note that the minimum transaction amount in bitFlyer is 0.001 BTC.
  • 05. Deposit the equivalent in fiat currency using your preferred payment
  • 06. Confirm your order and that’s it! You bought some Bitcoins!

Buy Bitcoin with your preferred payment method

bitFlyer supports multiple payment options. You can instantly buy Bitcoin or any altcoin using wire GB bank transfer, credit card, debit card, or the following supported payment methods: Sofort, iDeal, and GiroPay. 

Two points to keep in mind:

  • bitFlyer has a 1.95% transaction fee for the Instant Buy payment methods. 
  • For the Trade Pro accounts, there are no limits on deposits/withdrawals or trading. Other accounts have a limit of 250 pounds /day or 2500 /year (total).

What to do with your Bitcoins?

When it comes to using your crypto, Bitcoin is like cash. You can use it for everything you would typically do with cash, from online shopping to funds remittances between large institutions.

Before we go further, here’s a tip for you: to store your Bitcoin, you will need a BTC wallet. You can’t just send your BTC to your bank account. Let’s find out why.

Besides making payments, you can trade with your BTC. Here’s how to trade bitcoin:

  • 01. Find a reputable crypto exchange like bitFlyer.
  • 02. Sign up and verify your account.
  • 03. Check out the most up to date Bitcoin price chart.
  • 04. Deposit your money to that exchange.
  • 05. Place your order, specifying the BTC price you want to get upon buying or selling your crypto.
  • 06. Wait till the order is performed. That’s it, you’re done.

bitFlyer's mobile App

To be able to check the current Bitcoin price as well as buy, sell or trade your BTC on the go, take advantage of the bitFlyer wallet app, which supports both iOS and Android mobile operating systems. You can download the bitFlyer Wallet App from the Google Play Store or the iOS App Store.

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bitFlyer Lightning

Want to trade and become more involved in the stunning world of crypto-trading? Read more about bitFlyer Lightning. It’s a crypto exchange devoted specifically to trading Bitcoins. The exchange rates here are determined based on the current Bitcoin cost, which is determined by the balance between supply and demand.

bitFlyer Lightning

Why bitFlyer?

With dozens of bitcoin exchanges out there, you might be wondering, why bitFlyer? Consider the following arguments:

  • 01. bitFlyer is fully licensed to operate in Europe, the US and Japan. Unlike the majority of exchanges that are in a regulatory grey area.
  • 02. It’s compliant with PSD2 and AMLD5 by having two-factor authentication and relevant KYC and AML controls and checks in place, as well as sophisticated cold-to-hot wallet storage management and the most secure operating systems.
  • 03. It’s easy to get started, no matter your level of trading experience. There are two versions: one for newcomers and one with advanced trading tools for veteran traders.
  • 04. bitFlyer comes with two products:
    - bitFlyer Buy/Sell
    - bitFlyer Lightning
    • bitFlyer Buy/Sell Best suited for newcomers or people that are looking for a very simple and direct experience. There is just what you need: a dashboard with your euro balance and coins owned, current price, simple Buy and Sell buttons, a graph, a very simplified order book, as well as access to Funding/trade history reports.
    • bitFlyer Lightning Best suited for advanced traders, with complex order types, plenty of analysis tools and overlays, and a proper trading interface.

Buy other cryptos available on bitFlyer

You are just a few steps away from making your first BTC purchase! But here’s a final caveat: the world of crypto can be extremely addictive.

bitFlyer has become popular due to the ease of which users can purchase and trade BTC. But, do you know that besides BTC, you can buy other cryptocurrencies with bitFlyer?

Aside from BTC, you can purchase Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), Monacoin (MONA), and Lisk (LSK).

Man with a shopping cart

Ready to get started?

Register on bitFlyer and start buying your first Bitcoin or altcoins the smart and secure way.

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