Exchange British Pound Sterling / GBP to Bitcoin and vice versa

Here are some discount codes for you to save trading fees:

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Compare your Top 3 Bitcoin Exchanges
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Provider
Pro and Contra
Has been hacked?
Fees
Security
Trading
Anonymous, No KYC
80 80
Pro
  • 2FA ensures security
  • High leverage (up to 100x Cryptocurrencies, up to 1000x Forex)
  • No KYC required
Contra
  • Not widely known yet
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.001%-0.05%
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 1000x
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US Friendly!
88 88
Pro
  • Low fees
  • Excellent liquidity in both USD and EUR markets
  • Margin and futures trading supported
  • Only exchange platform selected to support investigation into Mt. Gox's stolen Bitcoins
Contra
  • Sometimes has uptime problems when market gets hot.
  • Verifications take time.
  • Unlike many other Bitcoin exchange platforms, it does not work as crypto wallet.
  • Although it is not solely a Bitcoin exchange for US, Kraken has a lot of restrictions for a wide range of countries, specially for credit card purchases.
Has been hacked? No Fees
Deposit Fees:
10 USD for FedWire (Silvergate) 5 USD for FedWire (Synapse) 10 USD for SWIFT (Silvergate Bank) 3 USD for SWIFT (Bank Frick) 3 EUR for SWIFT (Bank Frick) 1.25 CAD + 0.25% of the transaction for In-person cash or debit (Canada Post) 1.5% of the transaction for Interac e-Transfer 3 CAD for SWIFT (Bank Frick) 21 GBP for CHAPS (ClearJunction) 3 GBP for SWIFT (Bank Frick) 0.75 CHF for SIC (Bank Frick) 0.75 CHF for SWIFT (Bank Frick)
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.26%
Security Excellent Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 5x
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90 90
Pro
  • User-friendly swapping service for quick transactions.
  • Has a lot of available ERC-20 tokens and altcoins
  • Has a cashback mechanism
  • Users can exchange fiat for crypto and vice versa
Contra
  • The website does not have information on the SimpleSwap Executive Team.
  • It does not have any charts, toolbars or anything to help you analyze what is going on in the market.
  • Besides swapping, there is not much to the website.
  • Customer Support is not live.
Has been hacked? No Fees
Deposit Fees:
Miner fees
Withdrawal Fees:
Trading Fees:
4.95%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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All in One
80 80
Pro
  • Very low fees
  • A myriad of coins to exchange with
  • No lags experienced with website
Contra
  • Customer support lacks phone
  • Has been hacked one time (but compensated their users)
  • Different domains for US and the rest of the world
Has been hacked? Yes (on 7. May 19) Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.012% - 0.10%
Security Ok Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 20x
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80 80
Pro
  • “Real” Decentralized Exchange
  • Anonymous
  • Account creation is fast and very easy (not required to complete KYC/AML)
  • Accepts Fiat payments
Contra
  • In Business only since 2016
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
Yes
Security Excellent Trading
Futures? None
Derivatives? No
Margin Trading? None
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High Volume
76 76
Pro
  • High liquidity
  • Low fees
  • Full package of order types, margin trading and lending market
  • Hack has been solved professionally and innovative, paid back all the losses from the hack (!)
Contra
  • Not a transparent company
  • Has been hacked multiple times
  • Controversial connection to Tether
Has been hacked? Yes Fees
Deposit Fees:
No (only for FIAT)
Withdrawal Fees:
Yes
Trading Fees:
0.10%-0.20%
Security Ok Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 10x
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78 78
Pro
  • Supports over 1000 cryptocurrencies
  • Fair trading fees
  • Simple and advanced trading
  • Crypto Derivatives
Contra
  • Has been hacked before
  • Low trading volume
  • Users report poor performance while trading
  • Not anonymous (custodial crypto exchange)
Has been hacked? Yes Fees
Deposit Fees:
No deposit fees
Withdrawal Fees:
Yes
Trading Fees:
0.25% Maker / 0.25% Taker (maximum)
Security Low Trading
Futures? Yes
Derivatives? Yes
Margin Trading? Yes
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80 80
Pro
  • Easy account creation
  • No minimum deposit
  • Awesome interactive website
Contra
  • Unregulated
  • Some negative reviews
Has been hacked? Yes (2016, but only email system) Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
No
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up to 500x
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Buy w. Credit Card
80 80
Pro
  • Reliable order execution
  • Wire Transfer & Credit Cards
  • Instant buy option of coins
Contra
  • Premium on prices
  • Support’s canned responses
  • Verification process is a bit demanding
Has been hacked? Yes, hacked in 2013 Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.25%
Security Good Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
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Great for Credit Card
82 82
Pro
  • A lot of different payment method
  • Strict security standards
  • Trustpilot reviews
Contra
  • Verification needeed for full access
  • Some US states are not supported
Has been hacked? No Fees
Deposit Fees:
Yes (for Credit Card Payments)
Withdrawal Fees:
Yes
Trading Fees:
N/A
Security Trading
Futures? No
Derivatives? No
Margin Trading? No
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Anonymous P2P
90 90
Pro
  • Many coins and payment methods supported
  • Multi-blockchain P2P exchange
  • Transparency about company background
Contra
  • Reliability of service is depending on the sellers on the platform
  • Too many options to choose from can paralyze users
  • High crypto prices
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
1.00%
Security Medium Trading
Futures? No
Derivatives? No
Margin Trading? No
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100 100
Pro
  • Protects your privacy and does nto hold any of your funds/private keys
  • Fee rates are fair and transparent
  • User-friendly interface with simple and direct options
  • Over 450 supported cryptocurrencies
Contra
  • has no trading tools or charts
  • some swaps can be stuck for hours
  • fees will be different for every cryptocurrency
  • 900 EUR limit for Fiat to Crypto transactions without KYC
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Trading Fees:
0.40%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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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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90 90
Pro
  • Non-custodial exchange
  • Highly recognized team
  • Multiple available features
  • Low transaction fees
Contra
  • No mobile app
  • No trading tools
  • Limited Swaps/Purchases
  • Not an anonymous service
Has been hacked? No Fees
Deposit Fees:
No (only network fees)
Withdrawal Fees:
Trading Fees:
0.75% - 4%
Security Strong Trading
Futures? No
Derivatives? No
Margin Trading? No
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86 86
Pro
  • Hundreds of supported cryptocurrencies
  • Multiple trading products and markets
  • High trading volume
  • Transparent company background
Contra
  • Poor customer service
  • KYC required for full usage
  • Many complaints towards Bybit's policies
  • Comparably limited amount of trading pairs
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No (miner fee only)
Trading Fees:
0% - 0.1%
Security Strong Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
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Great for EUR/USD
82 82
Pro
  • Has not been hacked
  • Great to buy Bitcoin / Ethereum with FIAT
  • Easy to use exchange interface
Contra
  • No trading platform
  • KYC needed
Has been hacked? No Fees
Deposit Fees:
No (for min. deposits)
Withdrawal Fees:
Yes
Trading Fees:
0.05%-0.15%
Security Excellent Trading
Futures? No
Derivatives? Yes
Margin Trading? No
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Easy to use
76 76
Pro
  • High liquidity
  • Integrated debit and credit cards
  • Newbie friendly
Contra
  • Major violations of users privacy
  • High Trading Fees for < $50k Trading / Month
  • Segwit still not supported ( = high TX fees )
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.50%-0.05%
Security Excellent Trading
Futures? No
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? up to 100x
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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:
0.25%-8.75%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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72 72
Pro
  • 140+ currencies available
  • Accepts Credit Cards
  • 2FA Security
  • No verification for crypto to crypto
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:
0.50%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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90 90
Pro
  • Almost all countries are accepted (including some parts of the US)
  • Highest buying limit
  • Good Support
Contra
  • 3% fee
  • Some scam claims
Has been hacked? No Fees
Deposit Fees:
5% credit card fee
Withdrawal Fees:
5% credit card fee
Trading Fees:
5.90%
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:
0.00%-0.20%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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82 82
Pro
  • Trade gift cards for BTC instantly
  • 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:
Yes
Trading Fees:
0.00%-1.00% (with gift cards up to 5%)
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? up-to 100x
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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
Visit Website
Show more Bitcoin Exchanges

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.

Share your Experiences

One User-Review for Best GBP / Bitcoin Exchanges
  1. david, 1. June 2020

    I’m using bitbay, and they also have available deposits and withdrawals in GBP. Deposits are instant, and withdrawal fee from the UK is only 2 GBP.