Exchange British Pound Sterling / GBP to Bitcoin and vice versa

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Compare your Top 3 Bitcoin Exchanges
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Provider
Pro and Contra
Has been hacked?
Fees
Security
Trading
Supports Credit Card
92 92
Pro
  • High trading volume
  • Offers margin trading
  • Wire Transfer & Credit Cards
Contra
  • Premium on prices
  • Verification process is a bit demanding
Has been hacked? Yes, hacked in 2013 Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.1-0.25%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • no trading commissions
  • rewards system after open trades
  • offers to trade forex and gold too beyond crypto
Contra
  • no real online presence of the company
  • US users are not accepted
  • only email contact is provided
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
No
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? Yes
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82 82
Pro
  • - a lot of different payment method
  • - purchase prices are set for 30 minutes
  • - trustpilot reviews
Contra
  • - high commissions and fees
  • - some US states are not supported
  • - EUR bank transfers are not supported outside of the European Union
Has been hacked? No Fees
Deposit Fees:
Free
Withdrawal Fees:
Free
Trading Fees:
1%-10% depending on the payment method
Security Trading
Futures? No
Derivatives? No
Margin Trading? No
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Great for EUR/USD
90 90
Pro
  • Has not been hacked
  • Good payment methods
  • Exchange interface is awesome to use
Contra
  • No trading platform
  • Not regulated
  • Fees are not listed
Has been hacked? No Fees
Deposit Fees:
N/A
Withdrawal Fees:
N/A
Trading Fees:
N/A
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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Great for AUS & NZ
80 80
Pro
  • Simple & easy to use
  • Fast transactions
  • Responsive customer care
Contra
  • US Users not supported
  • No 2-factor authentication
  • Limited fiat & coin portfolios
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
High (2-4%)
Trading Fees:
No
Security Good Trading
Futures? N/A
Derivatives? N/A
Margin Trading? N/A
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84 84
Pro
  • Safe and decentralized trading
  • Arbitrators
  • 2-out-of-3 multisig security in trades
  • Wide selection of FIAT and Crypto Currencies
Contra
  • They need more aggressive advertising
  • More active development
  • They need to team up with other companies
  • High fees
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.001% - 0.009%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • Easy account creation
  • No minimum deposit
  • Awesome interactive website
Contra
  • Unregulated
  • Some negative reviews
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
No
Trading Fees:
None
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? Yes
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Great for EU & UK
94 94
Pro
  • Supports EUR and GBP!
  • Very low Fees
  • A myriad of coins to exchange with
  • No lags experienced with website
Contra
  • Customer support lacks phone
  • Website is not for beginners
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
Trading Fees:
0.05% to 0.1%
Security Excellent Trading
Futures? None
Derivatives? No
Margin Trading? No
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80 80
Pro
  • Verified merchants offer platform users services
  • Fast turnaround of deposits and withdrawals
  • High flexibility
  • Fully escrowed delivery
Contra
  • No mobile app
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
0.1% USD, 5 USDT, 0.0005 BTC
Trading Fees:
0.008% - 0.150%
Security Good Trading
Futures? N/A
Derivatives? N/A
Margin Trading? N/A
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82 82
Pro
  • Low fees
  • A wide variety of payment methods and currencies accepted, at least in theory
  • Easy to join and get going
Contra
  • Mixed reviews
  • Slow customer support
  • High commissions charged (by the seller) for buying Bitcoin with uncommon methods or in non-mainstream currencies
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
Commissions for buyers using unusual payment methods
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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72 72
Pro
  • Wide range of exchange options
  • Accepts Credit Cards
  • 2FA Security
Contra
  • High transaction fee of 0.5%
  • Negative comments from the community
  • Still a lot to prove (a fairly new company)
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
0.5%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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Fast Support!
78 78
Pro
  • Competitive fees
  • Good security
  • Accepts many different FIAT currencies
Contra
  • Website could use some improvements
  • Doesn't keep the pace with competition
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes, 1% + 5 USD
Trading Fees:
0.0 - 0.15%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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High Volume
76 76
Pro
  • High USD liquidity
  • Low fees
  • Full package of order types, margin trading and lending market
  • Hack has been solved professionally and innovative
Contra
  • Not a transparent company
  • Reputation loss due to hack
  • Unclear situation with USDT (Tether)
Has been hacked? Yes Fees
Deposit Fees:
No
Withdrawal Fees:
No, except wire transfers
Trading Fees:
0-0.2%
Security Ok Trading
Futures? No
Derivatives? No
Margin Trading? Yes
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Easy & Private
64 64
Pro
  • Private and fast
  • Easy to Use
Contra
  • Need to keep an eye for scams
  • Not suitable for large buyers
  • Now ID verification is required
Has been hacked? Yes Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
1%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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Many Problems
80 80
Pro
  • Low fees
  • Excellent liquidity in EUR markets
  • Margin trading supported
Contra
  • Weak support for mobile platforms
  • No "advanced" orders (stoploss etc.)
  • Often has uptime problems when market gets hot
  • Volume lags a bit in BTC/USD
Has been hacked? No Fees
Deposit Fees:
Yes, in some cases
Withdrawal Fees:
Yes
Trading Fees:
0.0 - 0.26%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? Yes
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68 68
Pro
  • Easy account creation
  • Online and Offline payment options
  • Easy to operate platform
Contra
  • Fees are high (3-11.9%)
  • No leveraged trading
  • No App
Has been hacked? No Fees
Deposit Fees:
N/A
Withdrawal Fees:
N/A
Trading Fees:
3% - 11.9%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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70 70
Pro
  • Accepts crypto deposits and fiat
  • User-friendly website
  • Competitive fees
Contra
  • Unregulated
  • Negative remarks about creating an account
Has been hacked? No Fees
Deposit Fees:
$10
Withdrawal Fees:
up to $20.00
Trading Fees:
None
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? Yes
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80 80
Pro
  • Exchange and wallet service
  • Virtual wallet with MasterCard
  • Regulated
Contra
  • Not anonymous
  • Fees are expensive
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
$2.99
Trading Fees:
0.65%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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78 78
Pro
  • Good liquidity
  • Competitive fees
  • International market
Contra
  • Owned by Coinbase which is known for lack of privacy
  • Support could be way better
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.1 - 0.25%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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Pro
  • Easy account creation
  • BTC oriented exchange
  • Anonymous trading
Contra
  • Only accepts BTC payments
  • Exchange rates are very expensive
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
0.0001 BTC
Trading Fees:
0.4% up to 0.6%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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Best GBP / Bitcoin Exchanges

Brief History of GBP/BTC trading pair

The GBP/BTC trading has a relatively long history, the first exchanges from fiat to GBP appeared in 2011 on the Virwox exchanges. At that time users were buying bitcoins through SLL dollars for GBP then sold it in exchange for bitcoins. Although this option is still available on the market, a couple of options to purchase bitcoins for GBP have been emerged ever since then.

GBP/BTC tradingBitcoin has been very popular in the United Kingdom since the beginning. The cryptocurrency community is very active in London, 50-100 people meet every month since 2012 to talk about the innovative technology in every month. As bitcoin gained more publicity during the price boom of 2013 more and more service provider choose the UK as a headquarter for its business activity.

The GBP/BTC trading activity has a relatively small market share compared to the global trading volume. The GBP denominated bitcoin market has a daily trading volume of 1500 BTC per day.

The pound sterling – GBP – is the official currency of the United Kingdom but is has been used in a couple of other countries as well as local form of money. Sterling is the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen.

Exchange GBP to Bitcoin

Exchange GBP to bitcoinIf you want to exchange GBP to Bitcoin there are several options on the market. The biggest market share in terms of the daily trading volume belongs to Bit-x exchange who has been on the market since 2012. On April 4, 2017 BIT-X has undergone a complete redesign and emerged again renamed as CoinsBank. CoinsBank facilitates 55% of the GBP/BTC trading volume. The second largest GBP bitcoin exchange is Coinfloor.

If you want to buy bitcoins for GBP or exchange GBP to cryptocurrencies, you can choose from several payment methods. Exchanges allow you to deposit money through credit cards, bank wire transfers or alternative payment providers. You can even use your PayPal balance to purchase bitcoin if you are using LocalBitcoins or Virwox’s services.

GBP/BTC Country Specific Regulation: Bitcoin in the United Kingdom

London and the United Kingdom has always been considered as one of the financial hubs on the globe. It is not that surprising that the fintech technological development has been gaining more and more popularity in the country. A significant amount of cryptocurrency business corporation chooses the UK as a headquarter due to the straight and quick company registration process.

Trade British Pound against bitcoinDespite the growing interest toward cryptocurrencies, the UK’s government and regulators have been remarkably quiet on the subject of digital currencies. They are examining this subject with regards to consumer protection; the prevention of money laundering, and taxation.

The government of the United Kingdom has stated that the bitcoin is currently unregulated and is treated as a ‘foreign currency’ for most purposes, including VAT/GST. Bitcoin is treated as ‘private money’. When bitcoin is exchanged for Sterling or for foreign currencies, such as euro or dollar, no VAT will be due on the value of the bitcoins themselves. However, in all instances, VAT will be due in the normal way from suppliers of any goods or services sold in exchange for bitcoin or other similar cryptocurrencies. Profits and losses on cryptocurrencies are subject to capital gains tax.

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