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Jul 23
2019
How to Buy Bitcoin in the UK: A Binance Guide

At Binance, we offer several ways to buy Bitcoin in the UK. In this article, we enumerate the ways with our BTC/GBP offerings on the platform.

Binance, the leading cryptocurrency exchange in terms of trading volume, is always looking out for our British customers, so we provided several ways to buy Bitcoin in the UK. One of the best ways to do so is via Binance Jersey, the fiat-to-crypto platform for buying crypto in the UK and the rest of Europe using the fiat currencies in the area, such as the British pound and the Euro. 

Background: Bitcoin in the UK

As one of the world’s major economies, the United Kingdom is understandable ahead of the curve when it comes to cryptocurrency activities. Buying Bitcoin in the UK has become commonplace. 

In fact, a recent nationwide survey found that more than 90% of the people in the country are aware of Bitcoin, with about 9% of them actually owning cryptocurrencies. While that looks like a small number, the sheer amount of awareness in Bitcoin, as well as the fact that a huge majority of Britons personally knows a Bitcoin holder, indicates that the potential for buying Bitcoin in the UK to become mainstream is huge.

Another thing: about 21% of Britons already think that Bitcoin can be as common as fiat currencies. 

In light of the ongoing movement to spread the freedom brought by cryptocurrencies to the UK, Binance is offering at least two ways to buy Bitcoin in the UK: through Binance Jersey and via credit card on Binance.

Binance Jersey: The Best Gateway for Buying Bitcoin in the UK

Binance Jersey is a fully-secure, Binance-powered, fiat-to-crypto platform for buying Bitcoin in the UK and the rest of Europe using the British pound and the Euro. It features the speed, performance, and security of Binance, the world’s leading crypto exchange and one of the fastest success stories in the blockchain industry. 

With Binance Jersey, you can fund your account with GBP deposits via your preferred bank (as long as it’s supported on the platform) and then use that to buy cryptocurrencies. When you want to sell cryptocurrencies instead, you can proceed to convert your crypto to GBP and then withdraw to your bank.

Here are the steps to use Binance Jersey for buying Bitcoin in the UK:

- Create an account on Binance Jersey and complete the account verification process.

- Once that’s complete, log in to your account and go to Funds, click on Deposits, then choose GBP. 

- Enter the desired deposit amount in GBP and click Submit. You’ll be shown the information you’ll need to submit to the bank where you will make a wire transfer. 

- Go to your bank to complete the deposit. You have 20 days to do so. Please make sure that the information you entered in your account verification on Binance Jersey and your deposit details are the same as the info you provided to your bank, to avoid inconveniences.

- Once the deposit is completed, check your Binance Jersey account to see the status of your deposit. Go to Funds, then click Transaction History.

- Use the deposited GBP to buy cryptocurrencies such as Bitcoin.

How to Buy Bitcoin in the UK with Credit Card

Binance Jersey is not the only option offered by Binance for buying Bitcoin and other cryptocurrencies in the UK. At Binance, we also offer a convenient method for using your credit card for your Bitcoin purchases, with support for the British Pound.

Here’s a step-by-step guide on how to buy Bitcoin in the UK using your credit card:

- Log in to your Binance account. If you don’t have an account yet, please create one. 

- Go to this page: https://www.binance.com/en/creditcard/

- Enter how much Bitcoin (or other cryptocurrencies) you want to buy. Right now, the display options for the pricing are indicated in either US Dollars or Euros, but the platform accepts all other fiat currencies, including the British Pound. Depending on your card provider, there could be a minimal fee involved for the conversion.

- Read through the order details displayed on the screen to check if you agree to the terms. Once done, check “I have read and agreed the disclaimer” and click Go To Payment.

- The platform will lead you to the Simplex website, where you will verify your details and enter the details of your credit card. First-time users may need to enter their complete information. You can opt to create an account on Simplex to use the same information for repeat purchases.

- Provide the needed info. Once that’s done, your transaction will be finished, and you’ll be led back to your Binance account.