Bitcoin has gone through a much needed correction this year (2018). And while many people are proclaiming the death of Bitcoin, those of us that have been in the game for a while know that these price swings are nothing new and the long-term view of Bitcoin and other crypto is still a very bullish one.
That brings us to a very important question.
How do I buy Bitcoin in the UK?
To cut a long story short, Vimba is a fantastic place to buy bitcoin if you are only looking to buy a small amount each week and use a proven investment strategy, Dollar Cost Averaging, to maximise your Bitcoin holdings.
But here’s our longer answer.
If you are brand new to Bitcoin, before looking at how to buy it, you should first learn about what Bitcoin is. Bitcoin is decentralised digital money that is powered by the Blockchain. Our knowledge base has a great article about the technology and applications of Bitcoin and the Coinmarketcap.com website will give you what the current price of Bitcoin.
So now we know what Bitcoin is, how do we buy Bitcoin in the UK?
1. Setting up a Bitcoin wallet
The first step to buying Bitcoin is to set up a Bitcoin wallet. This is what you will use to store your Bitcoin upon purchase. We recommend using the Blockchain wallet and we have a helpful video on our knowledge base that takes you through the process. It is important to understand that once that Bitcoin is in your wallet, you have complete control over it. This means that the security of your Bitcoin is your responsibility and you need to develop good Bitcoin security practices as such the ones below:
- Never expose your private keys online
- Protect your wallet access with a password
- Never tell someone how much Bitcoin you own
2. Finding the right place to buy Bitcoin in the UK
There are now a few services that offer a place to buy Bitcoin in UK. A few key things to look out for is there user feedback and ratings. As stated above, we think Vimba is the best place to buy BTC not just because we offer some of the best prices but also because we have great user feedback on TrustPilot and Google which is reflective of the effort we put into providing and building an amazing service for anyone to use seamlessly and effectively.
We only charge a 3.5% fee on each transaction and we have very low rates. The reason we can provide such low rates is that we buy Bitcoin in bulk which basically means we get it at wholesale prices, we don’t buy single purchases of Bitcoin for each order like other Bitcoin services.
Furthermore, we send Bitcoin directly to your wallet, meaning you are always in control - we are the only platform in the world that allows you to Dollar Cost Average Bitcoin straight into your personal Bitcoin wallet.
At Vimba we also make the process of buying Bitcoin effortless for you. More than half our user base are Bitcoin ‘first timers,’ this is because we do all the hard work for you.
3. Setting up with Vimba
Signing up with Vimba takes no time at all.
- You just need to register on the Vimba homepage and verify yourself with a Government issued i.d (either a passport or drivers licence)
- Once verified you will be given a unique bank reference number that you put in the reference field of your recurring bank payments.
- After setting up a standing order of between £20 - £2000 that can go out weekly, fortnightly or monthly into our bank account.
From there you just need to sit back and watch your Bitcoin holdings grow as we deliver you Bitcoin each week straight into your personal wallet. We can also provide Ethereum as well!
So if you are searching for where to buy Bitcoin in UK you have found the right place with Vimba.
If you have any further questions about our service or you need some help in setting up please don’t hesitate to contact us at firstname.lastname@example.org
Happy Bitcoin Savings!
The Vimba Team