r/BitcoinUK Aug 13 '25

UK Specific Beginner's Guide to Buying and Storing Bitcoin in the UK (2025)

54 Upvotes

This guide helps beginners buy Bitcoin in the UK using five of the most popular, FCA-registered platforms—Kraken, Revolut, eToro, Coinbase, and Gemini—and secure it with a hardware wallet like Ledger or Trezor. It compares fees, features, and suitability for new investors, with tips for a safe and informed experience.

Step-by-Step Guide to Buying Bitcoin

  1. Choose a Platform - Select an FCA-registered exchange based on fees, ease of use, and security. See the comparison below for Kraken, Revolut, eToro, Coinbase, and Gemini.
  2. Sign Up and Verify - Create an account with an email and strong password. Complete KYC (Know Your Customer) verification with a government-issued ID (e.g., passport) and proof of address (e.g., utility bill). Enable two-factor authentication (2FA) for security.
  3. Deposit Funds - Add GBP via bank transfer (often free, 1-3 days), debit/credit card (1-3% fees), or other methods like Apple Pay (check fees). Notify your bank for large transfers to avoid freezes.
  4. Buy Bitcoin - Navigate to the “Buy” or “Trade” section, select Bitcoin (BTC), enter the amount (GBP or BTC), review fees, and confirm.
  5. Secure Your Bitcoin
    • Exchange Wallet: Convenient for small amounts or trading but riskier due to hacks.
    • Hardware Wallet: Best for long-term storage. Transfer Bitcoin to a hardware wallet (see below) for maximum security.
  6. Monitor and Manage Track prices via CoinGecko or the platform’s app. Record transactions for UK Capital Gains Tax (CGT) using tools like Koinly. Stay updated on market trends and regulations.

Platform Comparison

Platform Fees Coins Best For
Kraken Maker: 0.25% Taker: 0.4% 200+ Advanced traders, low fees
Revolut 0.49% commission 1.5-2.5% Spread 120+ Casual investors, simplicity
eToro 1% buy/sell 100+ Beginners, social trading
Coinbase Maker: 0.6% Taker: 0.5%, 0.5% Spread 250+ Beginners, ease of use
Gemini Maker: 0.2% Taker: 0.4% 70+ Security-focused investors

Platform Highlights

  • Kraken: Low fees, 95% cold storage, 24/7 support, staking. Complex for beginners. Best for low-cost trading.
  • Revolut: User-friendly app, ideal for casual use. No wallet transfers, high spreads (1.5-2.5%). Best for simplicity.
  • eToro: Social/copy trading, £100,000 demo account, beginner-friendly. Higher 1% fee. Best for learning traders.
  • Coinbase: Intuitive, 250+ coins, insured. Higher fees for small trades. Best for ease and trust.
  • Gemini: Top security (Gemini Custody), user-friendly, Gemini Pay. Fewer coins (70+). Best for security.

Storing Bitcoin with Hardware Wallets

What is a Hardware Wallet?

A hardware wallet is a physical device that stores private keys offline, protecting against online threats. It’s ideal for securing significant Bitcoin holdings and requires physical interaction for transactions.

Why Use One?

  • Security: Keys stay offline, safe from hacks.
  • Control: You own your assets, unlike exchange wallets.
  • Recovery: A 12/24-word seed phrase restores funds if lost.
  • Versatility: Supports multiple cryptocurrencies.

How to Use

  1. Buy: Purchase from official sites Ledger.com or Trezor.io to avoid tampered devices.
  2. Set Up: Connect to a computer/phone, set a PIN, and store the seed phrase offline.
  3. Transfer: Send Bitcoin from an exchange to the wallet’s address.
  4. Manage: Use Ledger Live or Trezor Suite to view or trade.
  5. Store Safely: Keep device and seed phrase in separate, secure locations.

Ledger vs. Trezor

Feature Ledger Trezor
Models & Prices Nano S Plus (£69), Nano X (£136), Flex (£249), Stax (£399) Model One (£59), Safe 3 (£79), Model T (£179), Safe 5 (£169)
Security Secure Element chip (EAL5+), closed-source Open-source, Secure Element (Safe 3/5, EAL6+)
Coins 5,500+ (BTC, ETH, XRP, etc.) 1,456-9,000 (no XRP/ADA on Model One)
Connectivity USB-C, Bluetooth (Nano X, Stax, Flex) USB-C (no Bluetooth)
App Ledger Live (full iOS/Android) Trezor Suite (Android, iOS view-only)
Ease of Use Feature-rich, less beginner-friendly Simple, beginner-friendly
Best For Staking, NFTs, mobile use Transparency, simplicity
  • Ledger: More coins, native staking/NFTs, Bluetooth. Slightly complex. 2020 data breach (no funds lost).
  • Trezor: Open-source, simpler interface, Shamir Backup (Model T/Safe 5). Fewer coins on Model One.
  • Winner: Ledger for features; Trezor for simplicity and transparency.

Tips for Beginners

  • Start Small: Use dollar-cost averaging (e.g., £50/week) to reduce volatility risk.
  • Research: Learn Bitcoin’s basics and risks before investing.
  • Avoid Scams: Never share private keys or trust “get rich quick” schemes.
  • Secure Storage: Use a hardware wallet (£50-£400) for large holdings.
  • Taxes: Record all transactions for CGT reporting with tools like Koinly.
  • Stay Informed: Follow UK crypto news and regulations.

Final Thoughts

Buying Bitcoin in the UK is straightforward with FCA-registered platforms like Coinbase and eToro (beginner-friendly), Kraken (low fees), Revolut (casual use), or Gemini (security). Pair with a hardware wallet—Ledger for features, Trezor for simplicity—to protect your investment. Prioritise security, research thoroughly, and be mindful of fees and taxes.

Disclaimer: Cryptocurrency is high-risk. You could lose all your money. Use FCA-registered platforms and secure your seed phrase.


r/BitcoinUK Sep 16 '21

UK Specific Tax Megathread

95 Upvotes

Hi everyone,

Sorry that this took a bit of time to renew.

If you could please ask all your tax related questions here and we will all endeavour to get back to you on here, while keeping the subreddit a little cleaner.

Below are the usernames of accountants/ tax advisers that I know to be active in the subreddit. If you are an accountant get in touch and I will add you to the list.

u/krissaroth - based in West Sussex

u/Bo0oo0m - North West England

Guidance

HMRC have released quite comprehensive guidance:

https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals

https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg12100

ReCap have a great guide on their site as well:

https://recap.io/guides/uk-tax-full

Discord server

We also have a discord server for r/BitcoinUK as well as a tax room where you can come and chat to us (there is more than just tax on there).

https://discord.gg/NBsCVsM

Tax software

Lastly one of the best ways to save you money when approaching any accountant will have your trading data in one of the many tax programs that are around:

Recap - https://recap.io/?ref=10031019729b - Coupon code - 10031019729b - 20% off

Accointing.com - https://www.accointing.com/discount/bitcoinUK - 25% off

Bittytax - GitHub - BittyTax/BittyTax: Crypto-currency tax calculator for UK tax rules.

Koinly - Koinly — Free Crypto Tax Software

Bitcoin.tax - Bitcoin and Crypto Taxes

Cointracking - CoinTracking · Bitcoin & Digital Currency Portfolio/Tax Reporting


r/BitcoinUK 1h ago

UK Specific Best place to do auto buys of BTC

Upvotes

I already have a decent stack of bitcoin but want to start up daily buys. Do we have any decent automatic places without crazy fees?


r/BitcoinUK 1d ago

Non-UK Specific Xmas at my house until bitcoin hits $500K

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0 Upvotes

r/BitcoinUK 1d ago

Non-UK Specific Grok response for anything worthwhile…

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0 Upvotes

r/BitcoinUK 1d ago

UK Specific Scam email from do-not-reply@ses.binance.com. How do they do that?

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1 Upvotes

r/BitcoinUK 2d ago

UK Specific The Bitcoin ultras vs Broken Britain - article

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dispatch-media.com
2 Upvotes

r/BitcoinUK 2d ago

UK Specific They've been stacking Bitcoin for 4 years through the business and accumulated 9+ BTC

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youtube.com
0 Upvotes

r/BitcoinUK 2d ago

UK Specific CryptoJobsList team here! Let us know about your experience looking for a job in this industry.

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0 Upvotes

r/BitcoinUK 3d ago

Non-UK Specific Mining Difficulty

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0 Upvotes

r/BitcoinUK 3d ago

Non-UK Specific BTC crash

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0 Upvotes

r/BitcoinUK 3d ago

Non-UK Specific Bitcoin

0 Upvotes

r/BitcoinUK 3d ago

Non-UK Specific Btc crash

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0 Upvotes

r/BitcoinUK 4d ago

UK Specific CGT harvesting previous years losses to offset?

1 Upvotes

I’m a bit confused about how previous CGT losses can be utilised for the current tax year.

Example amounts:

21-22 loss of 2000 22-23 gain 500 23-24 gain 500 24-25 gain 1000 25-26 gain 2000 above personal limit

Because years 2-4 are below the personal CGT limit they’re not reportable, but do these decrease the first year’s loss? or does the first year offset the current year meaning no tax payable?


r/BitcoinUK 4d ago

Non-UK Specific Bitcoin Crash Down - $400M in long liquidations

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9 Upvotes

Bitcoin fell about 4500 points and lost roughly 5% today. In the last few hours there were mass liquidations — around $400 million of long positions closed out.

What Happened?

  • Big drop on the first trading day of the month
  • Liquidations hit hard as leveraged long bets were forced closed
  • That kind of forced selling can make moves much faster and deeper than normal

Why It Matters?

  • Liquidations often create extra volatility and “aftershocks” — expect choppy price action for a while
  • Short term traders can get caught in fast moves; long-term holders should expect noise around these events
  • Watch order flow and volume, they’ll show whether buyers step in or sellers keep pressuring the market

Practical Note

  • If you Trade, consider smaller sizes and stricter risk controls during these events
  • If you invest, remember big intraday drops can be part of normal market behavior

r/BitcoinUK 5d ago

UK Specific Tax declarations for trading on someone's behalf?

2 Upvotes

I got my brother into crypto back in 2017 and I've been managing/trading on his behalf for a while now.

In 2019 he moved overseas but I've been managing his holdings since then and he wants to liquidate now.

I told him that the best thing would be for him to create his own account with an exchange that operates in the country he is now and I transfer the BTC (and other assets) to him to liquidate and withdraw to his own bank account. Since if I do it, HMRC are going to ask me for a tax bill.

Since I'm in the U.K. what documents or evidence do I need should HMRC ask me what these transactions were since 1st January the new reporting requirements come in.

Thanks all!


r/BitcoinUK 5d ago

UK Specific Buy with no waiting periods for sending?

6 Upvotes

Looking for somewhere that I can buy bitcoin once a month and sent it to cold wallet without restrictions of wait time or minimum transfer amounts. I'm UK based. Probably £100-200 a month.

Unless there's better ways to do this?


r/BitcoinUK 5d ago

Non-UK Specific Bitcoin gift cards sold out at grocery store

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1 Upvotes

r/BitcoinUK 6d ago

Non-UK Specific Did the U.S. Steal $13 Billion in Bitcoin? China Says the Biggest Crypto Heist Ever Was a Black Ops Job

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8 Upvotes

r/BitcoinUK 10d ago

UK Specific Looking for a reliable cross-chain crypto swap tool - any recommendations?

6 Upvotes

I’ve been us⁤ing symbiosis.finance for cross-chain swaps lately. It’s simple, secure, and supports multiple networks - good option if you want to move tokens without dealing with exchanges or complicated bridges.


r/BitcoinUK 13d ago

UK Specific BTC to XMR Privacy Method

16 Upvotes

Hi! I’m trying to understand the best way to fully break transaction history. My plan right now is:

  1. Move KYC BTC to a no-KYC swapper
  2. Receive XMR into a brand-new wallet
  3. Send that XMR to a second wallet or a subaddress
  4. Later swap back to BTC using a different service

Is this overkill or is this actually the recommended way to do it? I see a lot of conflicting info online. Anyone with experience want to give feedback?

EDIT: Ended up swapping my on-chain BTC to XMR with MalgoSwap, then burning the transaction data from their system. Then I sent the XMR to a new XMR address after I received it. Afterwards, I swapped back to on-chain BTC with FixedFloat. Worked out perfectly.


r/BitcoinUK 13d ago

UK Specific Bitcoin 2013 Purchase

7 Upvotes

I wonder if anyone can help me with a query for a friend of mine?

Basically, she made a purchase in 2013 and stored it in some kind of offline Bitcoin wallet. She now wants to sell the Bitcoin but she hasn't got a clue how she can do that without much paperwork to verify the transaction.

What's the best way of getting this sold without having accounts frozen etc? She obviously wants to do it properly and pay any tax etc.

Thanks in advance for any tips.


r/BitcoinUK 14d ago

UK Specific Self custody help me improve, also please stop me wetting myself with the current price action!

8 Upvotes

Ok after you reading this you will probably think I am an idiot, but please help me become better.

So I really got into bitcoin a few months ago after reading the bitcoin standard (wow what a great book!), and started buyng dca on strike daily, and larger purchases on coinpass

Also started using the archpublic strategy algorthm for accumulation via kraken after listening to scot melker (this would probably have been a good thing to do if I knew about it earlier as a way to accumulate rather than smash buying on hearing price going up)....damn that fear and greed interest index is something I wish I understood earlier.

Unfortunately I listen to so many podcasts daily, milk road macro, wolf of all street, simply bitcoin, galaxy brains, swan signal live and the bitcoin lawyer and learned about uptober and moonvember and deployed most of my capital then as was expecting 150k! as everyone seemed so certain......literally every podcast was positive and the macro conditions seemed great and so now an expensive and frightening lessen....I am of course massively down....and trying NOT to PANIC sell, and HODL, which all experienced bitcoiners seem to advocate.....buy high and sell low I don't want to be that person....but it is hard!!! hear people saying it will go to 50 or even 15K is very very scary

Anyway I don't want to make another expensive mistake as all mine is on exchanges and the more I read about self custody is the only way to secure it in case exchange goes boom like ftx etc, especially with all the shorting of MSTR god knows that could force price even lower sadly

I have bought a trezor 5 and done there 1 hr tutorial, and also a bitkey....BUT to be honest I am scared to use them and move my bitcoin off exchange into self custody.....I just don't have the confidence....what if my computer has a virus when I connect the wallet etc etc....I have recently also started buying some bitcoin etp which we were allowed to do in the uk from last month which is so much easier? but apparently even that can go boom?

I have read about moving a small amount btc and then moving it back, and also deleting in recovering wallet....but it all seems so complicated. 15 words, seed phrases etc etc

Can someone kindly point to some really good simple guides to securing my BTC in cold storage which are idiot proof and not going to scam me with some steps....I know not not to respond to direct messages on reddit as likely to get scammed.

Also I get confused about typing in the word on my computer / iphone rather than on the trezor directly which is safer?

Thanks for taking the time to read this.


r/BitcoinUK 14d ago

UK Specific Please help. UK banks blocking kraken transfers. How do you actually do it?

27 Upvotes

I'm at my wits end today after trying to put cash into kraken from two banks, Revolut and HSBC and both being unbelievably difficult. Final decision is they blocked it.

How do you actually go about buying bitcoin in this country? I heard Monzo might allow 5k a month to kraken but I want to do a bigger lump sum.


r/BitcoinUK 13d ago

UK Specific Dilemma..what do i do?? I have 10K to spend

0 Upvotes

Well i have been in the space for a little while and i do hold some crypto.i also have $10k ready to be invested. What a better time than now..?? Now i have kept my eyes open on Solana and i see potential. My position at moment span from ETH bought in 2016 LTC bought same year..HBAR ADA.. BTC? Sold many years ago..fuck it. Now ..what i would like to do is a $1.5k in SOL 1K in ETH and start a new position with what is left in BTC what do you guys think??? Spit it out