As the most famous Cryptocurrency, Bitcoin is traded all around the world. If you are one of those people who invested in Bitcoin when it was launched, you would be a millionaire right now. Bitcoin has seen all-time highs in the past years, and it intends on continuing its rising nature.
However, if you are someone from the UK who has never invested in Bitcoin before, we are here to help you out with the simplest guide on how to buy Bitcoin in the UK. Continue reading to understand what you need to know in order to make your investment journey smooth.
- Pick A Cryptocurrency Exchange Of Your Choice
A Cryptocurrency exchange is a specially designed platform for the trading and investment of Cryptocurrencies. You can always choose an exchange of your choice keeping in mind the safety and security of the exchange and the transaction fees they charge.
Since Bitcoin is the most famous Crypto, it is available on all the exchanges like bitql and can be traded on them. Keep the payment methods in mind as a first-time Bitcoin buyer. Also, make sure to choose a simple exchange that does not have many complications.
- Make Your Account
After the first step of deciding on the Cryptocurrency exchange of your choice, you can proceed to create an account on the exchange. This will require you to go through a few steps of helping the exchange with your personal information and, later, your banking information.
Putting in your information is not enough. You have to verify your account after that. It is the most important part of this step because you can not start buying Bitcoins without completing your account verification.
- Depositing Cash In Your Account
Bitcoins are most likely going to be bought with cash only. So, the next step is also simple, you have to deposit cash into your Cryptocurrency exchange account from your bank account so that you can proceed with buying Bitcoins.
Different exchanges have different ways of allowing you to deposit cash. Some let you deposit with your account number, some allow you to do so through your debit card, and some allow you to use your credit card. You can choose your preferred method.
- 4. Place Your Buying Order
The most exciting part is here. You have to place your Bitcoin buying order now. You have to input the amount in dollars, the amount of Bitcoin that you want to buy. This would make your order successful, and after the transaction is done, you can see your holdings as a percentage of one Bitcoin.
- Choose Your Storage Method
Bitcoins are an investment, and they are often a big one. You would want to keep it safe. You can always leave it in your exchange account, but that does not guarantee 100% safety, so you can always choose to move your investments to a digital wallet as they provide more safety than the Crypto exchange account.
Your guide is here. What are you waiting for? Start buying Bitcoins today!
