Best Bitcoin Account UK – Top Bitcoin Accounts with Low Fees

Trading Bitcoin has never been more accessible, with an abundance of platforms offering functionality to invest in cryptocurrency from the comfort of your own home. Each platform comes with its unique pros and cons, which can make it tricky to narrow down the selection to one that suits you.

To help streamline the decision-making process, this guide will explore the Best Bitcoin Account UK by reviewing the top platforms and highlighting how you can buy Bitcoin today – all in a matter of minutes!

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply

Best Bitcoin Account UK 2022 List

Found below is a brief outline of the best Bitcoin accounts in the UK available to traders right now:

1. eToro – Overall Best Bitcoin Account UK
2. Bybit – Bitcoin Account with Great Leverage Facilities
3. ModeApp – Excellent Bitcoin Trading App for Smartphone
4. Coinbase – High Security Bitcoin Wallet Account
5. Binance – Best Bitcoin Account for Asset Selection
6. OKEx – Great Bitcoin Account for Staking
7. CoinJar – Ideal Bitcoin Account for Beginners
8. CoinCorner – Easy To Use Bitcoin Platform
9. Uphold – Best Bitcoin Account with All-Inclusive Pricing

Another leading Bitcoin account with competitive yield rates on BTC is AQRU. You can read about all the key metrics such as fees and interest rates in our AQRU review.

Best Bitcoin Accounts Reviewed

Before you buy Bitcoin, it’s crucial to explore your options for creating a Bitcoin account. Found below are the best options available to traders right now, with our reviews covering their features and fee structures.

1. eToro – Overall Best Bitcoin Account UK

Taking the top spot in our list of the best Bitcoin accounts is eToro. eToro has an exceptional reputation in the cryptocurrency trading scene, boasting over 23 million users at the time of writing. What’s more, eToro is regulated by numerous top-tier entities such as the FCA, ASIC, and CySEC – and is even covered under the FSCS, protecting investors up to a total of £85,000.

EToro is rated so highly because this Bitcoin account allows users to trade Bitcoin (and other cryptos) with very low fees. eToro doesn’t charge any commissions and instead utilises a spread-based structure for cryptos. The spreads on eToro’s assets are very competitive – for example, trading BTC will include a spread of 0.75%. Notably, eToro offers actual crypto asset trading, meaning you will gain ownership of the asset.

Aside from fees, eToro is also highly regarded if you’re looking to buy cryptocurrency, as the minimum deposit threshold is only $10. In terms of funding your account, eToro accepts deposits via debit card, bank transfer, and e-wallets – including PayPal.

Finally, eToro offers numerous valuable features, with their ‘CopyPortfolio’ feature being one of the best. This feature allows users to invest in professionally managed portfolios without paying any management fees whatsoever. eToro’s ‘CryptoPortfolio’ is one of the best picks here, as this will provide you with exposure to the broader crypto market in a completely passive manner.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply

2. Bybit – Bitcoin Account with Great Leverage Facilities

If you’re looking for an alternative to eToro, we’d also recommend checking out Bybit. Bybit was founded in 2018 and has grown exponentially, with over 2 million registered users at the time of writing. The broker is registered in the British Virgin Islands and is headquartered in Singapore, yet offers trading facilities to users in many countries around the globe.

Bybit offers numerous trading services, including spot markets, derivatives, inverse perpetual contracts and USDT perpetual contracts. The latter two refer to agreements similar to futures with no expiration date and where the digital currency (e.g. USDT) is used as collateral. In terms of fees, Bybit charges no fee in the spot market for makers and only a 0.1% fee for takers, making them highly cost-effective to trade with.

However, Bybit really stands out for its leverage facilities. Bybit offers up to 1:100 leverage, which is far higher than the best crypto exchanges. These leverage facilities will only be allowed in certain jurisdictions, so reviewing this before trading is wise. Finally, Bybit even provides a free demo account called ‘Testnet’, which will enable users to get a feel for the market before trading for real.
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Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

3. ModeApp – Excellent Bitcoin Trading App for Smartphone

Mode (sometimes called ModeApp) is a UK-based app that allows users to buy and sell Bitcoin on their smartphones. The app is designed to be hassle-free and links seamlessly with UK bank accounts, allowing users to purchase Bitcoin in just a few clicks. Notably, Mode charges a flat fee of 0.99% per transaction, which occurs on both sides of the trade.

Another great thing about Mode is that you’ll be able to earn cashback when you shop with specific merchants. After verifying your account, you can pay for goods and services using your Mode balance and earn cashback. This cashback comes in the form of more BTC and gets added to your holdings.

Finally, Mode is an FCA-regulated platform, meaning you get a considerable boost to your safety levels. The app is sleek and super easy to use and is available on both Android and iOS. Additionally, Mode users can send BTC to other Mode users free of charge, with the transfer going through instantly.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

4. Coinbase – High Security Bitcoin Wallet Account

Did you know that Coinbase also offers one of the best crypto savings accounts? If you’re looking for a Bitcoin account UK that offers a high-security cryptocurrency wallet, then Coinbase is worth considering. Coinbase is regarded as one of the best Bitcoin exchanges globally and is currently the second-largest cryptocurrency exchange in terms of trading volume. Coinbase is authorised in the UK by the FCA and has approximately 73 million registered users worldwide.

Coinbase’s user interface has been designed to appeal to the casual investor, meaning it is sleek and free of advanced jargon. As a crypto exchange, Coinbase offers a vast selection of digital assets to trade, with altcoins and ERC-20 tokens also available for investors. In terms of security, Coinbase holds 98% of customer holdings in cold storage, which significantly boosts the platform’s safety.

In terms of fees, Coinbase charges either a flat fee depending on your position size or a variable fee – whichever is higher. Buying Bitcoin with a credit or debit card can be expensive, as the cost will equate to 3.99% of your position size. However, Coinbase makes up for this with one of the best crypto wallet avalaible. This app is a self-custody wallet that is free to use and supports over 4000 cryptos – and also comes with full support for NFTs!

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

5. Binance – Best Bitcoin Account for Asset Selection

Another excellent Bitcoin account to consider is Binance. Binance is one of the best crypto exchange uk with over $22bn worth of trading volume in the last 24 hours and boasts over 28 million users. One of the best things about Binance is that users have access to over 500 cryptocurrencies to trade, ranging from large coins to smaller tokens.

Binance’s fee structure is also attractive, with users only having to pay a 0.1% transaction fee per trade. Furthermore, if you make your trade using Binance Coin (BNB), Binance’s native token, you can reduce your trading fees by 25%. In terms of deposits, as a crypto exchange, Binance allows users to transfer digital currencies from an external wallet or deposit FIAT currency – although the latter will come with a fee depending on the payment method.

Finally, Binance is an excellent option for beginner and advanced users as the platform offers functionality for any experience level. Users can opt for the Basic, Classic, or Advanced platforms, each with its own look and feel. Binance also employs two-factor authentication and address whitelisting to boost the platform’s security level.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

6. OKEx – Great Bitcoin Account for Staking

If you are looking for a great Bitcoin account UK for staking, then OKEx is worth considering. OKEx is a Seychelles-based broker initially launched in China but has since moved due to the government’s crackdown on crypto trading. The platform has over 20 million users worldwide and offers easy staking through ‘OKEx Earn’, which allows you to generate a return on your assets in just a few clicks.

OKEx offers various options in terms of trading, including spot trading, margin trading, futures, and options. Trading fees are based on the amount of OKB you hold, which is the utility token of OKEx. The more you own, the less your costs will be, with maker and taker fees ranging from a low of 0.06% to a high of 0.1%.

OKEx is also great as it provides users with access to DeFi projects, offering another avenue for investing. OKEx offers over 240 cryptos to trade and free deposits and withdrawals. Finally, OKEx even provides a non-custodial wallet for users to store their crypto in, supporting eight different blockchains and sidechains.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

7. CoinJar – Ideal Bitcoin Account for Beginners

CoinJar is an excellent Bitcoin account if you are new to the cryptocurrency market, as the platform is designed with beginners in mind. Although CoinJar is based in Australia, the platform allows users from the UK to create a Bitcoin account in minutes. Furthermore, as CoinJar has a brokerage and an exchange element, users have a great degree of flexibility in their trading.

Fees will vary depending on which service you use. Using the brokerage element, you can instantly buy digital currencies using your card for a 2% fee. If you opt to use the exchange side of things (which offers a vast range of crypto trading pairs), then CoinJar will employ a maker and taker structure. This basically means you’ll pay a commission when you place a buy or sell order that will fluctuate depending on your trading volume, ranging from 0.2% to 0.05%.

Finally, CoinJar’s trading platform is straightforward to use and available on the web or smartphone. The app offers QR-code functionality, allowing users to transfer crypto to one another easily. Although CoinJar doesn’t provide a traditional crypto wallet, the platform will store your holdings in cold storage and employ machine-learning techniques to bolster security.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

8. CoinCorner – Easy To Use Bitcoin Account

If you’re looking for a user-friendly account, then CoinCorner is worth considering. This platform has been tailored towards users who wish to buy Bitcoin in UK (and a few other cryptos) with no hassle and no advanced features. Based on the Isle of Man, CoinCorner has been around since 2014 and has over 200,000 users.

The account setup at CoinCorner is seamless and takes only a few minutes to complete. Depositing in GBP will come with a fee, which varies depending on your payment method – for example, credit/debit card deposits will be charged at 2.5% of your total. Furthermore, CoinCorner also charges buying and selling fees, posted at 1% of your trade size.

CoinCorner offers various great features, including an ‘Auto-Buy’ feature that allows users to buy Bitcoin regularly and passively. You can also earn BTC cashback if you shop with one of CoinCorner’s partners. Finally, business owners can use CoinCorner Checkout to accept BTC payments when selling goods or services.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

9. Uphold – Best Bitcoin Account with All-Inclusive Pricing

Rounding off our list of the best Bitcoin accounts is Uphold. Uphold is one of the best investment platforms to buy and sell Bitcoin as it employs an ‘anything to anything’ structure, meaning you can exchange one asset for another seamlessly. At present, Uphold supports 36 cryptocurrencies and three FIAT currencies, including GBP, EUR, and USD.

Uphold doesn’t charge a commission when you trade Bitcoin and instead uses a spread-based structure. The spread will vary based on the asset, although it equates to 0.85% for BTC and 0.95% for Ethereum (ETH). This pricing is all-inclusive, meaning no hidden fees and no non-trading fees.

Although Uphold doesn’t offer a designated Bitcoin wallet, the platform does support well-known options such as Exodus, Trezor One, the Ledger Nano X, and more. Uphold also provides an ‘AutoPilot’ feature that allows you to purchase a crypto asset regularly automatically. Finally, you can quickly transfer crypto to another person using Instant Transfer, with all payments free to make.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

Types of Bitcoin Accounts

When looking to start your Bitcoin account setup, you have various options to choose from. Let’s look at the best account options when it comes to cryptocurrency trading UK:

Bitcoin Brokerage Accounts

Brokerage accounts are deemed the ‘traditional’ option because these platforms pair buyers and sellers with the broader market and act as the middleman in the transaction. Examples of brokers include eToro, which offers a selection of cryptos that you can trade from your computer, smartphone, or tablet. Typically, brokers will either provide ‘real’ crypto trading (where you own the underlying asset) or CFD trading – although the latter isn’t authorised in the UK at present.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply

Bitcoin Exchange Accounts

On the other hand, crypto exchanges (such as Binance and Coinbase) pair buyers and sellers together directly, often taking a small fee for their service. The best Bitcoin exchanges will offer a massive array of tradeable currencies and will often provide cryptocurrency pairs to trade too. Notably, Bitcoin exchange accounts tend to allow users to deposit crypto into their trading accounts, enabling crypto-to-crypto exchanges – although most accounts will also offer credit/debit card deposit methods.

Bitcoin Wallet Accounts

Finally, you can also opt for a Bitcoin wallet account designed to store your crypto assets safely. The best Bitcoin wallets will feature advanced security attributes and functionality to send/receive crypto, ensuring they offer an ‘all in one’ solution. Let’s explore the four main types of Bitcoin wallet accounts on offer:

Desktop Wallet

Desktop wallets are precisely what the name suggests – they are desktop applications in which users can store their cryptos. These software wallets will manage your private keys for you and tend to include functionality for buying and selling crypto within the app’s interface. However, as these are ‘hot wallets’ due to being connected to the internet, they aren’t as safe as other options.

Hardware Wallet

Hardware wallets are deemed the safest option for people looking to store their Bitcoin, as these wallets store your private key offline, making them inaccessible to hackers. Although hardware wallets do come at a price, these ‘cold wallets’ offer unparalleled security and are often easy to use as they tend to plug into your laptop or computer via USB.

Mobile Wallet

Mobile wallets operate in much the same way as desktop wallets, except they are used on your smartphone. Many brokers and exchanges will offer a digital wallet available on iOS or Android, with eToro’s Money App being one of the standout options. eToro’s mobile app employs advanced security features and an unlosable key, offering users a safe way to hold their crypto investments.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply

Paper Wallet

Finally, you could also opt for a paper wallet if you wish. This isn’t really a wallet per se and is instead a piece of paper that contains a public and private key used for making crypto transactions. Paper wallets are rarely (if ever) used these days, as they are deemed unsafe and easy for people to steal or observe.

Best Bitcoin Accounts Comparison

How to Choose the Best Bitcoin Account for You

Whether you’re looking to buy Bitcoin with debit card or any other means of payment, there are various factors to consider before you start your Bitcoin account sign up. Found below are some of the main areas to consider:

Safety

Understandably, safety should be your top priority when choosing a Bitcoin account. Although crypto trading is still a relatively new area of finance, many brokers and exchanges will now feature regulation from top entities. Ideally, you’ll want to partner with a platform regulated by one of these companies – for example, eToro is regulated by the FCA, ASIC, and CySEC. Aside from regulation, it’s also wise to look for platforms that offer two-factor authentication and secure crypto wallets, as these elements can significantly boost your trading safety.

Account Features

Most Bitcoin accounts will now come with many features, meaning you’ll often have access to an ‘all in one’ solution. An example would be eToro, which offers a brokerage element along with a crypto wallet. As such, users who sign up with eToro will have everything they need in one place. However, some platforms will operate as an exchange (which enables crypto deposits). Some may even offer a cryptocurrency debit card, allowing users to pay for goods and services with their crypto balance.

Fees

Before you open Bitcoin account, it’s crucial to examine the platform’s fee structure. Many platforms will allow you to buy coins such as Bitcoin, Dogecoin, and Litecoin with no commissions and instead use a spread-based format. This spread is the difference between the buy and sell prices on an asset and tends to vary depending on the size of the coin and market conditions.

However, some platforms may also charge a fee for funding your account using specific methods. For example, credit and debit card deposits on exchanges tend to come with a fee equating to a percentage of the deposit amount. Finally, keep an eye out for non-trading fees, such as deposit or withdrawal fees, as these can slip under the radar.

Usability 

If you’re new to crypto trading, the platform’s user-friendliness is essential to consider. Most platforms will allow you to access your trading account on your mobile device, ensuring you can stay connected to the markets whilst on the go. Furthermore, you may also wish to look for Bitcoin accounts that offer an array of educational resources, as these can help you optimise your trading effectiveness right off the bat.

Customer Service

Finally, customer support should also be considered. If you’re wondering how to invest £500 or more, you’ll likely want to partner with a platform that will provide speedy answers to any questions you may have. The best Bitcoin accounts will offer live chat or telephone support, with many also offering an extensive FAQs section for users to review.

How to Open a Bitcoin Account UK

Finally, let’s turn our attention to the investment process. By following the five quick steps below, you’ll be able to buy BTC in minutes with eToro – all from the comfort of your own home.

1. Create Bitcoin Account with eToro

Head over to eToro’s homepage and click ‘Join Now’. Enter your email address and choose a username and a password to create your account.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply

2. Verify Your Identity

To comply with FCA regulations, users must verify themselves before trading. To do so, click the ‘Complete Profile’ button on your account dashboard and enter the personal details required for the KYC checks. You’ll also have to upload proof of ID (copy of passport or driver’s license) and proof of address (copy of bank statement or utility bill).

3. Make a Deposit

New eToro users must make a minimum deposit of $10 before trading. Deposits are free to make, and UK-based traders can use the following methods:

• Debit card
• Bank transfer
• PayPal
• Skrill
• Neteller
• Klarna
• Trustly

4. Buy Bitcoin

Type ‘BTC’ or ‘Bitcoin’ into the search bar and click ‘Trade’ next to the first option in the drop-down menu. An order box will then appear, much like the one below. In this box, enter your desired trade size, check everything is correct, and click ‘Open Trade’.

5. Download eToro Crypto Wallet

If you’d like, you can also download the eToro wallet to store your crypto. To do so, head to Google Play or the App Store and search for ‘eToro Money’. Once the app is downloaded, you can log in using your standard eToro credentials. You can then transfer your positions from the eToro trading platform to your new eToro crypto wallet by clicking on the position and opting to ‘Transfer’ it to the wallet.

Best Bitcoin Account UK – Conclusion

To summarise, this guide has explored the best Bitcoin accounts on the market right now, touching on their features and fee structures. By reviewing the list we presented earlier in the guide, you’ll be sure to find an account that suits your needs – meaning you can begin trading optimally right away.

If you’d like to start trading Bitcoin today, we’d recommend opening an account with eToro. eToro offers tight spreads and low minimum investment amounts when trading Bitcoin whilst also boasting regulation from the FCA, ASIC, and CySEC – making them the ideal partner for crypto trading.

eToro – Best Bitcoin Account UK

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply

Frequently Asked Questions on Bitcoin Accounts