Jasmine Birtles
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The Best Exchanges to Buy Bitcoin in the UK
Moneymagpie Team
9th Nov 2026
Risk warning: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: fca.org.uk/investsmart
Affiliate disclosure: Some links in this article are affiliate links. If you sign up through them, MoneyMagpie may earn a commission, at no extra cost to you. This doesn’t change the facts we report, which come from each exchange’s own website as of 26 October 2026. Fees change, so check current terms before you buy.
Bitcoin is the world’s best-known cryptocurrency, and plenty of UK beginners are curious about it. But with so many apps and exchanges out there, where should you actually buy it? In this guide we compare four well-known options, explain how they charge, and show you what to check before handing over a penny. If you’re brand new, our beginner’s guide to buying crypto in the UK is a good place to start.
First, a reality check. The Financial Conduct Authority (FCA) says that if you buy cryptoassets you should be prepared to lose all the money you invest, and that direct crypto investments aren’t covered by the Financial Services Compensation Scheme (FSCS). Prices can swing wildly in a day. Only ever use money you can afford to lose.
What makes a good Bitcoin exchange?
- Registration: UK crypto firms must be registered with the FCA for anti-money laundering purposes. That is not the same as your money being protected.
- Fees: look at trading fees, any spread (the gap between the buy and sell price) and deposit or withdrawal costs.
- Easy GBP deposits: free bank transfers beat card payments, which often cost more.
- Security and support: look for clear safeguarding information and proper customer support.
- Simplicity: as a beginner, an app that explains what you’re buying beats a screen full of order types.
The 4 best exchanges to buy Bitcoin in the UK
1. Kraken: best for low fees as you grow
Kraken offers a simple “instant buy” option and a more advanced trading platform, Kraken Pro, which gets cheaper the more you trade. According to its fee schedule, instant and recurring buys carry a 1% trading fee (custom orders 1.5%), plus a spread, and Kraken Pro starts at 0.40% maker and 0.80% taker fees at the entry tier, falling as your volume grows. On regulation, Kraken says Payward Limited is registered with the FCA as a cryptoasset firm under the Money Laundering Regulations.
Best for: people who start simple and may want lower fees later. Watch out for: the Pro screen can overwhelm beginners, and card fees may apply.
2. Coinbase: best for a beginner-friendly app
Coinbase is one of the most recognisable names in crypto, with an app designed to make buying Bitcoin feel as easy as online shopping. Its UK page says GBP deposits are free and prices are shown in pounds. It also offers Coinbase One, which advertises zero trading fees, and Advanced Trade, with lower volume-based pricing. Standard trading fees weren’t listed on the UK page we checked, so look at the fee shown at checkout before confirming each purchase.
Best for: first-timers who want a polished, simple app. Watch out for: convenience can cost more than advanced platforms, and subscriptions like Coinbase One only pay off if you trade enough.
3. CoinJar: best for UK-focused simplicity
CoinJar is a UK-focused exchange. CoinJar UK Limited is registered with the FCA as a cryptoasset exchange provider and custodian wallet provider (firm reference 928767). Its fees page lists a 2% fee for card purchases (including Apple Pay and Google Pay), 1% for buying from your cash balance, and 1% for recurring card buys. GBP deposits and withdrawals by Faster Payments have no fee. CoinJar is clear that cryptoassets are largely unregulated in the UK, that you can’t access the FSCS or the Financial Ombudsman Service, and that you could lose all the money you invest.
Best for: UK buyers who want simple pricing and free bank transfers. Watch out for: paying by card costs more than funding from your bank.
4. eToro: best for mixing crypto with other investments
eToro lets you buy crypto alongside shares and ETFs in one app. Its fees page shows manual crypto trades at a flat 1% per position for lower membership tiers, with reduced rates for higher tiers, and a market spread that isn’t an eToro charge. Selling to GBP, EUR or USD costs 0.6% to 1% depending on your tier, and moving crypto from the platform to an eToro Money wallet carries a 2% fee. Deposits in a currency other than USD have a conversion fee, which varies. Check eToro’s regulation page to see how the UK entity is authorised and what is and isn’t covered.
Best for: people who want crypto and traditional investments under one roof. Watch out for: the fee layers (trade fee, spread, conversion and transfer fees) add up, so check the total before you buy.
Capital at risk. Cryptoasset investing is high risk and is largely unregulated in the UK.
Quick comparison
| Exchange | Fees stated on official site | GBP bank deposits | Best for |
|---|---|---|---|
| Kraken | Instant buy 1% (custom 1.5%) plus spread; Pro from 0.40% maker / 0.80% taker | Fees vary by method; check the deposit page | Growing into lower fees |
| Coinbase | Standard fees shown at checkout; Coinbase One advertises zero trading fees | Free GBP deposits | Simple app |
| CoinJar | 2% card; 1% cash balance; 1% recurring card | Faster Payments free | UK-focused simplicity |
| eToro | 1% flat on manual crypto trades for lower tiers; 0.6% to 1% to sell to fiat | Conversion fee for non-USD deposits | Crypto plus shares and ETFs |
Is buying Bitcoin directly the only way?
No. Some investors prefer exposure through regulated funds or ETFs rather than holding coins. Our guide to buying Bitcoin vs Bitcoin ETFs explains the differences, and our overview of ETFs for first-time investors shows what funds look like.
If you want a view on prices, see our latest Bitcoin price prediction, though predictions are never guarantees.
Don’t forget tax
HMRC treats crypto as an asset, and you may owe Capital Gains Tax (CGT) when you sell or swap it for a profit. The CGT tax-free allowance is just £3,000 a year, so keep records of every purchase and sale. HMRC sets out the rules in its guidance on what to do when you sell cryptoassets, and we explain them in our guide to crypto gains tax in the UK.
How to buy Bitcoin: 5 steps
- Decide how much you can afford to lose entirely. Start small.
- Pick an exchange and check its fees and FCA registration on the FCA Register.
- Create an account and complete identity checks.
- Fund it by bank transfer where possible, to keep costs down.
- Buy, and secure your account with two-factor authentication. Keep records for tax.
Because the FCA’s rules for promoting crypto require extra protections for consumers, you may see a cooling-off period or a short appropriateness quiz before your first purchase. Take them seriously. They’re there to protect you.
FAQs
Is Bitcoin legal in the UK? Yes, you can buy and hold it, but it is largely unregulated, so you have fewer protections than with shares or funds.
Is my crypto covered by the FSCS? No. The FSCS says it generally cannot protect you if a platform that holds or exchanges crypto goes out of business.
How much do I need to start? Many platforms let you start with a small amount, but check each one’s minimums.
Disclaimer: This article is for informational and educational purposes only and is not regulated financial advice. Cryptoassets are high risk, can fall sharply in value, and are not protected by the FSCS. You could lose all the money you invest. Fees, features and regulatory status are as published by each provider on 26 October 2026 and may change. Do your own research or speak to a regulated financial adviser. Tax rules depend on your circumstances.
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