If you had invested in Bitcoin back in 2009, when it was first introduced as a crypto asset, you would almost certainly be worth multiple millions of dollars today. If you, along with a large number of other people in the United Kingdom, are interested in learning how to put money in this prevalent cryptocurrency, then this beginner’s guide is for you.
In it, we not only explore the ins as well as outs of how this industry operates, but we also describe how to buy crypto in the UK with an FCA broker.
Tutorial on How to Buy Crypto UK
This segment of our template will explain the process of investing in Bitcoin with eToro if you are ready to do so right now but feel that you may require some assistance in doing so.
If you use a broker like bitcoinx, the entire process of buying Bitcoin will take significantly less than five minutes, from beginning to end.
Additionally, the minimum purchase requirement is only ten dollars, which means that you can get begin with a relatively modest sum of money.
Establish a Login for Yourself
Because eToro is a ruled brokerage site, it mandates that all small buyers open accounts before they are allowed to start trading. To finish off this simple process, all that will be required of you is to enter a few items of data about yourself. This will include all of your personal information, including your name, your birth date, your name and address, and your mobile number.
ID To Attach
You will be prompted at this time to verify the newly created account you just created. Simply uploading two documents allows you to finish this in almost no time at all.
To begin, in order to validate your address, you will need to upload recent electricity bills or bank statements. The next step is to verify your attached photo and it can be done either by uploading your driving license or photocopy passport.
Even if you do not currently possess any of the aforementioned documents that need to be uploaded, you are still able to make a deposit and then purchase Bitcoin. Nevertheless, the maximum amount that you can deposit is limited to €2,000 (approximately £1,600), and you won’t be capable of making a drawdown until this is completed.
Make a Deposit of Money
The process of making deposits comes next. Consider utilizing a payment card that was given by Visa and Mastercard if you really want to make an instant deposit of funds so that you can continue to buy crypto without delay.
If you choose to use PayPal or Skrill, you’ll have the option to make quick deposits into your account. On the other side, the processing time for bank transfers might range anywhere from 0 to 3 business days.
The good news is one can begin trading with the minimum deposit of $10 too through trading forums like bitcoinx. This is the same irrespective of the payment option you select. In addition to this, you will be required to pay a nominal charge equal to 0.5% of the total value of the deposit.
Try To Find Some Bitcoins
Because the eToro website supports dozens of different markets, the most efficient way to navigate to the Bitcoin investing page is to search for that market using the site’s search bar.
When you see ‘BTC,’ you need to fill an order box by clicking the ‘Trade’ button, as seen in the image that is located above this one.
Bitcoin Trading in the UK
You should know that eToro’s Bitcoin investment process is geared toward newcomers if this is one’s first time trading online. Thus, the only required piece of data is the total amount you desire to invest.
If the amount you’ve entered is correct, you may proceed with the Bitcoin investment by clicking the “Open Trade” button.
After reading this in-depth tutorial on how to purchase Bitcoin in the United Kingdom, you are now equipped with the knowledge and resources necessary to carry out your investment in a secure manner.
In addition to this, you are aware of the positives and negatives associated with purchasing Bitcoin, as well as the brokers that should be considered for the position. If you are looking to purchase Bitcoin in the UK today, eToro is a good option because it has cheap fees and is regulated by the FCA.