Bitcoin is the first cryptocurrency that has been amplifying continuously as the time is going by. With its increasing popularity, more people are purchasing bitcoins. Many hackers and intrusion-makers keep on intending to attack servers and prefer the payment in Bitcoin as such transactions are traceable. So one should choose a safe medium to buy bitcoins.
Bitcoin has proved itself to be a beneficial investment option because its price has significantly risen with time. The usage of bitcoins for shopping and online trading is also growing.
Before getting into further details, let’s discuss some primary attributes related to Bitcoin:
What’s a Bitcoin?
It is a virtual currency, i.e., used to perform transactions without any fees. It is backed by the blockchain technology in which peer-to-peer networking is maintained, and a decentralized ledger is regularly updated by “miners.” Miners are people who help to complete a bitcoin transaction using their computers and are rewarded with bitcoins after every successful transaction.
Who brought it into existence?
Satoshi Nakamoto, an anonymous internet user, introduced bitcoin in 2008 and launched it online in 2009.
What kind of uniqueness did it introduce?
The primary idea that it is that it is entirely free of any government access, i.e., there is n no involvement of any third party in any of the transactions. That’s why there is zero-fee associated with the bitcoin transaction. Blockchain technology makes all of the operations wholly verified, and none can counterfeit the process in between.
If you are also planning to buy bitcoin, we will assist you doing the same. The easiest way to have bitcoin is via an exchange process. There are many duplicate and fraud websites, so try to choose the verified ones. There are several ways to buy bitcoin in the UK:
Buy Bitcoins via exchange platforms:
Coinfloor proposes with an exchange medium that avails utmost flexibility. It offers almost zero-fee transactions through your trading account beginning from £500. However, it charges a little fee of £10 while a deposit of less than £500 is done. It offers a maker-taker fee model in which prices are charged as per the function you perform, i.e., whether you “make” liquidity, or “take” liquidity away. It shows that if you place an order above or below the market price, you will be marked as a “maker,” but if you put an order at the market rate precisely, then you’ll be marked as a “taker.” Because of the liquidity element it avails, prices offered by Coinfloor reach the global average pricing. Also sometimes, zero fee trading periods are provided by Coinfloor.
CoinCorner plans to become an all-in-one platform to buy-sell bitcoins. They not only provide with good exchange opportunities but also, useful E-Commerce plugins, a mobile wallet, and a professional sale system for merchants. An amount can be stored on bank transfer/debit/credit card. Its fee structure relies on the volume of trading; however, standard price begins from 1% including zero fees to deposit/withdraw bitcoin.
Buy Bitcoins through Brokerages:
Cryptopay proposes you with the power to buy bitcoins in the UK via bank transfer. You have to give necessary personal details comprising valid ID proof, contact number verification, and residence proof, then only you will be able to start the purchasing procedure. Cryptopay offers to use merchant tools to let your business adopt bitcoin payments, and get payouts in pounds/euros.
QuickBitcoin introduces a fast and comfortable way to buy bitcoins in the UK. Due to its rapid services, most of the orders are completed within 10 minutes after getting the funds. To prevent any fraud activity, an ID proof is required to be submitted. Through the website of QuickBitcoin, one can buy up to £2000 of bitcoin. You have to request a quote if you intend to sell bitcoin. It proposes with a high degree of liquidity and avails with a brokerage service for large orders.
Buy Bitcoins through Bitcoin ATMs:
More and more Bitcoin ATMs are being introduced in the UK. One top-rated service to buy bitcoins in the UK is the BittyBot. It compares and studies the bitcoin market in the UK to let you come up with the best pricing, authentic traders.
One can also purchase Bitcoin via peer-to-peer networking, i.e., bitcoin can be bought from any seller who is willing to sell his/her bitcoin. This operation can be accomplished when the buyer would transfer money via bank transfer. The UK proposes with plenty of bank transfer transactions that are very quick, and transfer process is being performed within 10 minutes. Once the buyer transfers the money to the account of the seller; the seller sends bitcoins to be kept in escrow by the corresponding site until a confirmation regarding payment reception comes from seller’s side. Then only Bitcoins are being transferred to buyer’s account.