In How to Invest in Bitcoin UK this year the US Securities & Exchange Commission (SEC) approved the first ever Bitcoin ETF. It’s a milestone that adds another tailwind to cryptocurrency investment, but can UK investors get in on the action?

There are several ways to invest in Bitcoin in the UK, but the most straightforward is via a crypto exchange such as eToro or Coinbase. These platforms allow you to buy and sell cryptocurrencies for fiat currencies such as the British Pound Sterling (GBP) or the Euro (EUR). You can also choose to leave your Bitcoin in the exchange, which is a great option for those who want to monitor their investment’s value over time.

Best Crypto Wallets UK

Alternatively, you can purchase Bitcoin directly from an online crypto merchant, such as Changelly. This is usually a more involved process, as you will need to create and verify an account with the crypto exchange, and complete a Know Your Customer (KYC) procedure. This commonly involves providing your full name, a government-issued ID document, a current photo, paid utility bills and/or bank statements.

When choosing which platform to use to buy Bitcoin in the UK, it’s important to consider fees. Look for a platform that offers competitive rates and a clear breakdown of all fees associated with trading and withdrawals. Also, prioritize platforms that are compliant with UK regulations and have a strong track record for safeguarding investments.

While investing in Bitcoin is a popular way to make money, it’s essential to remember that the price of crypto can be volatile and may drop significantly. Therefore, it’s recommended that you only invest an amount that you are willing to lose.