Crypto Basics Cryptocurrency

How to Buy Bitcoin in the UK

March 8, 2019

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How to Buy Bitcoin in the UK

Cryptocurrency has become increasingly popular worldwide, as well as in the UK. However, while the process is meant to be simple, the local government treats cryptocurrency, including Bitcoin, with much caution and resistance. This poses several problems for users.

Firstly, purchasing Bitcoin requires a long identity verification process. In a country where 24% of the UK-born population doesn’t hold a passport, ID verification can become a massive limitation in crypto exchange.

Secondly, the bitcoin market in British pounds is one of the least liquid ones in the world, falling behind Korea and Poland. This means that UK users who want to actively buy and sell Bitcoin online will need a reliable platform to take part in the global crypto exchange.

To this end, we would like to introduce CoinCola.

Best Bitcoin Exchange in the UK

As the most reliable over-the-counter marketplace for crypto exchange, CoinCola provides UK users with several key benefits.

Firstly, CoinCola is based entirely on peer-to-peer interactions. This means that users can buy cryptocurrencies like Bitcoin and Litecoin in the UK through people who already own digital currency. The major benefit of this system is that no limits can be placed on withdrawal amounts or transaction sizes, unlike most other crypto exchange platforms.

Secondly, the core OTC platform is free of charge. Regular trades don’t cost anything unless you complete them with the help of ad placements. If you choose to place ads in order to get traction from other users, the fee for this exchange will be 0.7% – the lowest number you will see on the market. Additionally, topping up your CoinCola wallet is also free.

How to Buy and Sell Bitcoin in UK

When it comes to Bitcoin exchange, the process can get lengthy and complicated. If you live in the UK in particular, you will need to go through numerous steps to prove your identity, as well as find a fast way to link the infrastructure to your bank account. Luckily, with CoinCola, you are just a few short steps away from buying and selling cryptocurrencies like Bitcoin.

Step 1: Register and Verify Account

  1. Visit https://www.coincola.com or https://www.coincola.app within your browser.
  2. Click “sign up” to create an account, verify your number, and log into CoinCola.

3. Go to the “user center” website section, or the “settings” tab in your “me” screen if you’re using the app.

4. Click “authentication” or “real name verified” depending on which version of the service you’re using.

5. Confirm your identity by uploading photographs and keying in your data.

6. Wait for confirmation.

sign up coicola

Step 2: Buying and Selling Bitcoin in the UK

  1. Go to the “OTC” section of CoinCola.
  2. Choose a seller and click  “buy BTC”.

3. Choose how much you’d like to buy or sell in Bitcoins.

4. Open the trade, talk to the seller, and complete payment once you have an agreement.

5. Click “mark as paid” and wait for your coins to get released.

How to Buy Bitcoins in the UK

With PayPal

Over the last few years, buying Bitcoins with PayPal in the UK has become increasingly difficult. This is because online scammers repeatedly purchased cryptocurrency with PayPal accounts, later falsely claiming that they hadn’t received anything. This resulted in many crypto exchange platforms shutting down the feature altogether.

See: How to Buy Bitcoin with PayPal

With CoinCola, users can themselves decide on the payment method, such as PayPal or a credit card, the price of the Bitcoins, and the minimum purchase. This makes the platform one of the best and only ways to exchange Bitcoins in the UK using a variety of payment methods.

With Credit Card or Debit Card

Buying Bitcoins with credit or debit cards has become easier over the years. However, the question of online security has become a concern. CoinCola uses bank-level encryption, cold storage, and SSL, all to keep your information safe. This means you can confidently use any payment method of choice.

Final Words

Finding a reliable, hassle-free way to buy and sell Bitcoins in the UK can be difficult. However, with CoinCola, you are just a few steps away from making trades of a lifetime. Let us know below what you’re planning to do next!