So how do you buy Bitcoin in the UK? The first thing to know if you want to buy Bitcoin in the UK is that the CoinJar platform is user-friendly with a positive customer experience.

Here are the steps you need to follow.

Choose an exchange

A crypto exchange is an online platform where you can buy, sell and store your cryptocurrency of choice.

Prove who you are

To sign up, you do have to show your cute little face and prove you are an actual human. Local regulations tend to differ depending on the country, but generally speaking, get ready to hand over ID like a driver’s license, a passport, or other identifiers.

UK residents must complete an assessment to show that they understand the risk of what they are about to buy, according to local laws. They must also wait for 24 hours before being accepted, thanks to local regulations about a “cooling off period.”

Payment method

After your ID has been accepted, you can then create an account on the exchange. After this is done, you can move normal everyday money like Pounds (fiat) via your chosen payment method into your crypto account.

From there, you can choose Bitcoin, and how much you want to buy. There are involved in converting fiat to Bitcoin, and there are also fees to buy Bitcoin with a card, or with Google Pay. These fees are usually around 1%-2%. CoinJar Exchange has trading fees of 0.1% or lower.

Get yourself a wallet - how to store the Bitcoin you buy

You will need a digital wallet to hold your Bitcoin. There are a few different ways to do this. Here is a with everything you need to know.

Once you have your wallet set up, you can buy Bitcoin on the exchange and store it in your wallet. Now you are a Bitcoiner! Welcome to the club!

As always, do your own research before diving into Bitcoin or any other cryptocurrency that has caught your attention.

What to do with the (virtual) shiny new Bitcoin you buy

You can hold onto your Bitcoin (called HoDLing - Hold on For Dear Life) and hope that the price rises, so when you sell it you can make a profit. The performance of most Bitcoin can be highly volatile, with their value dropping as quickly as it can rise.

You should be prepared to lose all the money you invest in cryptoassets. Remember that if you do make a profit you may have to report this to your tax authority.

You can also spend your Bitcoin. Many merchants Bitcoin in payment.

Buy Bitcoin in the UK: Conclusion

CoinJar is a cryptocurrency exchange that allows you to buy, sell, and trade Bitcoin and other cryptocurrencies in the UK. You can use CoinJar to store your digital assets in protected crypto wallets, and access them anytime with the CoinJar app.

To buy Bitcoin on CoinJar, you need to create an account and verify your ID. Then, you can choose from various payment methods, such as card, or bank account transfer.

CoinJar offers competitive transaction fees, and supports multiple currencies. CoinJar has been in operation since 2013. Whether you are new to cryptocurrency or an experienced trader, CoinJar can help you manage your portfolio and enjoy the benefits of the cryptocurrencies market.