How to buy Bitcoin in the U.K.

Welcome back 😊

So to recap... In my previous posts I talk about my reasons for starting the Bitcoin Unicorn blog and explain what Bitcoin is.

The next step I took after doing my research, was to buy some Bitcoin. I say some, because at the time of purchase (13th November 2017) a whole Bitcoin would have cost me £4563.00. Which by the way has gone up to £7262.00 (as of 27th November 2017)

You don't have to buy a whole Bitcoin, instead like me, you can buy a fraction of a Bitcoin. A Bitcoin can be broken down to 8 decimal places. These fractions are called Satoshi's, named after the creator of Bitcoin, which is cute!
🤗

1 Satoshi = 0.00000001 Bitcoin

1 Bitcoin = 100,000,000 Satoshi 

Bitcoin at the moment is gaining popularity everywhere, but it seems most people online talking about Bitcoin are in the U.S. So when it came to buying Bitcoin some of the recommended exchanges were not available here in the U.K.

After a little more research, I found some which were available. Below, I talk about the one I have used. There are others you can use in the U.K but I will write about those once I have tried them myself first.

Coinbase

Coinbase is one of the easier ways to buy Bitcoin as a beginner.

• You can purchase with either a credit or debit card, which gives you Bitcoin instantly.
• You can purchase Bitcoin via your bank account with a bank transfer, but it does takes longer. 
• You can also purchase Ethereum and LiteCoin, two other digital currencies on the market right now.

It is free to sign up and took me about 30 mins in total to register.

To buy Bitcoin you will have to upload a proof of ID.

If you would like to buy via bank transfer, you will have to provide your bank account details too.

I bought with my debit card, so I got my Bitcoin instantly, the fees are more expensive with this method though.

I personally don't mind this as I am only just starting out and I like how easy it was to buy with my debit card.

I would recommend Coinbase to another beginner as I think it is one of the easiest and most accessible ways in the U.K. right now. Bitcoin and the whole cryptocurrency space is a hard one to get your head around. So if you are a newbie like me Coinbase is refreshingly easy to use to enter the market.

This is quite a short explanation about buying Bitcoin, but it really was that simple to buy with Coinbase. However I do recommend doing your own research too for piece of mind.

I do have my own referral link for Coinbase, which you can also get when you sign up. So if you found this information helpful, please do sign up via my link below.

https://www.coinbase.com/join/5a08a08f0b6e2f0126bc8ce3 Sign up  with 100 dollars (£75.00) and receive 10 dollars (£7.00) free!

I hope this post has been helpful to other Bitcoin newbies and I wish you all luck buying your first cryptocurrency.

As you will discover it is a very exciting and fascinating world to get into and I think the journey will be an interesting one.

If you do have any other questions of my experience with Coinbase, please do leave me a comment and will will answer the best I can.

Thank you for reading 😊

Bitcoin Unicorn

xoxo