There are a number of different bitcoin systems available to those in the UK that are looking to get involved in cryptocurrency and trading, although finding out what the best ones are can be a daunting and challenging activity.
Indeed, there are many bitcoin systems UK users can use when looking to exchange bitcoins and other cryptocurrencies, however this list will look to provide a look at some of the biggest systems that are available to be used.
Here are just some of the best bitcoin systems available to use:
Coinbase Pro has undoubtedly become one of the top options for many trading and exchanging cryptocurrency in the UK, as the platform is one of the cheapest ways for UK users with a UK bank account to use. The platform has allowed for deposits to be made by Faster Payments, thus making it incredibly quick and easy to use.
Coinbase were the first major bitcoin system that was provided with an e-money license, therefore UK users cna simply make transactions with Great British Pounds, rather than potentially lose out on conversion rates with other forms of currency.
It could be argued that the system looks a little confusing to use, however this becomes incredibly simple to use once it has been for a little period of time.
Another top bitcoin system that can be used in the UK is Binance, as this exchange allows for users to make quick deposits with GBP without having to suffer any additional fees and almost in an instant. Furthermore, Binance allows for bitcoin and other cryptocurrencies to be bought at the real exchange rate without being required to pay more than 0.1% in transaction fees.
Despite a 1.8% transaction fee when depositing GBP with a debit or credit card, it is still one of the best and cheapest options for UK users. Unfortunately, the 0.0005 BTC that will be charged to withdraw any amount of bitcoin can be considered to be a little steep, especially if the value is relatively small.
Founded in 2013, CoinJar is still considered to be one of the best bitcoin systems available in the UK, as they make it incredibly easy for users to buy various bitcoins via the use of a UK bank transfer. There is a 1% transaction fee, but this is fixed regardless of whether it is being bought or sold, but to help compensate it, users will also get a quoted bitcoin price that is a little above the real exchange rate.
Also established in the same year as CoinJar, Luno is based in the UK and have made it incredibly simple for users to buy bitcoin, although the option to buy other virtual currencies is a little limited.
A 1.5% fixed fee will be charged when users buy or sell bitcoin via a UK bank transfer, although their prices are relatively close to the real exchange rate. They provide options such as credit and debit cards when it comes down to purchasing bitcoin, although the 3.5% fee seems steep when a traditional bank transfer is just 1.5% and fixed.