Cyrptocurrency exchanges are probably the easiest and most popular way to buy thousands of different cryptocurrencies, from the very well heard of such as Bitcoin (BTC) to the strange and unusual.
Exchanges are based all over the world, most allow you to buy directly from fiat such as GBP (£), USD, or EURO’s whilst some only allow trading from one cryptocurrency to another.
There are many exchanges out there and we would advise carefully researching them before sending your money to them. Some have better reputations than others.
We’d recommend Coinbase as one of the most trustworthy exchanges which allow you to buy several popular cryptocurrencies directly with GBP (bank transfer or debit card). They have a simple to use website as well as apps for Android and IOS.
They also offer other products including Coinbase Pro which is a trading platform for the more advanced user, and Coinbase Card which is a Visa card that ties in with your Coinbase account allowing you to spend from your Coinbase crypto everywhere Visa is accepted.
If you decide to use Coinbase for the first time using a referral link is beneficial for both you and the person who’s referral link you use, you’ll both receive $10 (~£7) worth of Bitcoin free when you purchase $100 (~£77) or more of any cryptocurrency available on Coinbase.
If you need a referral link or have any questions shout up in our Telegram chat and someone will be more than happy to help.
We’d advise against leaving your crypto on exchanges long term, its best to move your Crypto to your own wallet in which you have control of your private keys. For more info see our page on Wallets.
To buy Cryptocurrency Peer-to-Peer you will need to have a suitable wallet set up. This is what your crypto will be paid into. Learn more about wallets here.
Buying Cryptocurrency Peer-to-Peer in the UK is fairly safe and straight forward. Sites such as www.localbitcoins.com, and www.bittylicious.com act as platforms to pair buyers and sellers. There are others, but these two are the most the most reputable in our opinion.
These sites allow buyers to purchase Bitcoin and other cryptocurrency directly from sellers via bank transfer, Paypal, debit card, and other payment methods.
Although these platforms do everything possible to ensure only legitimate sellers and buyers use them it is advisable to exercise a level of caution.
There are also sellers on ebay, gumtree, and other online selling platforms but these sellers have NOT been ‘vetted’ and are often looking to rip buyers off. We would strongly advise against using these means to buy crypto.
There are several bitcoin ATM’s located across the UK and the world, some of which are in the east midland.
The machines can be found anywhere from local shops to train stations to international airports.
Bitcoin ATM’s can differ from one machine to another. Generally they allow the customer to buy some of the more popular cryptocurrencies (usually bitcoin and sometimes others) from cash. Some also feature the option to sell crypto back to GBP.
We are aware of several Bitcoin ATM’s located across the East Midlands. These are operated and maintained by different companies. Two of the major operators including Gidicoins and SatoshiPoint.
For details of where to find these machines check out Coin ATM radar.
Simply enter your city or postcode and the site will give details of the closest machines to you. Although this site is updated regularly you may want to consider contacting the vendor beforehand to ensure the machine is still there and operational.