This is a beginners guide on how to buy Bitcoin & other cryptocurrencies from the UK.

 

Buying your first Bitcoins

First, we need a platform where we can buy, sell, and store cryptocurrency. Coinbase is the fastest & easiest way to buy your cryptocurrency in the UK. They support debit/credit card & bank transfer payments methods for UK customers, you can also withdraw back to your bank account if you sell some of your cryptocurrency.

Click here to sign up for an account www.coinbase.com You will need a valid UK ID (Passport / Driving licence & a mobile number)

 

Now your account is setup you’re ready to make your first transaction.

Click on Buy/Sell from the top menu bar:

 

Now you have a few options here, you can finally buy your first Bitcoin or if you’re planning on buying other cryptocurrencies that aren’t listed on Coinbase you would be better to purchase Ethereum at this stage, It’s cheaper to move between the trading platforms.

Congratulations you now own some Bitcoin.

Buying other Cryptocurrency

You will hear a lot of people talking about other cryptocurrencies that aren’t for sale on Coinbase, so how do you purchase these?

 

Click here to sign up for an account on Binance

After your setup is complete we need to move some of our Bitcoin or Ethereum from Coinbase to Binance

On the Binance website, we need to get our address that we can send our currency to from Coinbase, we will use Bitcoin in this example.

Click the upper right corner Funds, Deposits, Select the coin you will be sending to Binance from Coinbase (BTC-Bitcoin) Copy the deposit address that’s displayed.

Now back to the Coinbase website, under Accounts, you will see a button that says send, click on this.

Now enter the deposit address that you copied from Binance and click on Send.

After a short wait, your BTC will be available in Binance to purchase other coins.

Just click on Exchange, Basic.

Type in the name of your coin (all coins are known by 3 letters i.e. Bitcoin BTC, Ethereum ETH, Zilliqa ZIL)

Then click on the buy button after selecting the amount you wish to spend.

Selling your cryptocurrency

So you have made some profit on the coins you bought, trade it back for Eth or BTC and send it back to your Coinbase account (the reverse of above) and withdraw your profits, or would you like to instant cash instead?

If you head over to https://localbitcoins.com you can trade your cryptocurrency for same day cash or bank transfer.

What’s Next

So you know how to buy cryptocurrency from Coinbase & transfer between Coinbase and Binance.

You know how to get same day cash for your cryptocurrency.

You can buy almost every cryptocurrency on Binance.

Keep in mind

Don’t use an exchange to hold your fund, shop around for a hardware wallet.

Don’t spend more than you can afford to lose.

Don’t get caught up in the latest trend on Twitter about the next amazing coin, you will lose.

Do some research into the coin you wish to buy, read the whitepaper, find out what your actually investing your hard earned money in.