The best and easiest ways to buy bitcoin in the UK. Buying bitcoin in the UK has never been an easy task, but it's certainly easier than it was. Even during bitcoin's price explosion in 2013 you had to wire money to Mt Gox's Polish bank, send a scan of your passport, and face the risk that your pounds or bitcoin might eventually never make it out of the exchange. Thankfully, things have changed si
nce Mt Gox collapsed. Several UK exchanges have launched so we Brits should finally be able to purchase bitcoin without the cost of wiring money to a European bank. And with US-based Circle finally having its public launch, buying bitcoin just became even easier. One thing you will have to get used to is the price you pay being more than the current global average. This is normal, but for Brits it is a little more than you would pay in, say, the United States. So here are the best ways to exchange your hard-earned money for bitcoin in the UK as of December 2015. Peer-to-peer
The premise here is that you pay an individual bitcoin seller directly, usually by bank transfer. The UK has an advantage over other countries with our Faster Payments network, meaning bank transfers can be made very quickly, often within 10 minutes. From a buyer’s perspective, you initiate a trade and make your transfer into the seller’s account using the details provided by the site. At the same time bitcoin are sent by the seller and held in escrow by the site until the seller confirms they have received your payment. Bitcoin are then released to your account. The disadvantage is that peer-to-peer sites usually have at least £10-£15 mark-up on the global average price for bitcoin. But keep your eyes peeled on the price and you can pick up some bargains.
