Buy Bitcoin in Liverpool – 2021 Guide

Last Updated on September 16, 2021

Cryptocurrency and blockchain stand for the technology of the future, and as such, they’re on the path to fully transform the approach to how money is stored and exchanged around the world. According to research done by Transparency Market Research, the blockchain technology market is estimated to reach $20 billion by the year 2024, which attests to the global interest of both individuals and large companies.

So, don’t wait any longer and get your hands on the world’s most popular digital currency! You don’t need to be an expert in the crypto industry to purchase Bitcoin, since the process of buying is simple and anyone can do it quickly and easily.

In this article, we’ll explore the most popular methods of purchasing Bitcoin in Liverpool, UK. If you are looking for more broad information, you can check out our How to Buy BTC in the UK article.

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How to Buy Bitcoin in Liverpool

Choosing the best payment options will largely depend on your needs and preferences. Some of the features you should consider before you start trading are the platform’s safety and security, its fees, the seller’s reputation, as well as the time it takes to complete the process.

There are several payment methods available when it comes to buying Bitcoin in Liverpool:

  • Buy Bitcoin on Cryptocurrency Exchanges
  • Buy Bitcoin with Cash (via an OTC Broker)
  • Buy Bitcoin from a Bitcoin ATM

Liverpool, UK

Buy Bitcoin on Cryptocurrency Exchanges

Buying Bitcoin on cryptocurrency exchanges can be intimidating for someone who’s just getting started, so choosing the right exchange is of vital importance. But don’t worry, you can check out our recommendations of the best platforms which we wrote to help you make the process as smooth as possible for you.

Cryptocurrency exchanges are digital platforms that permit users to purchase and sell their digital assets. Before we jump into the different digital platforms, we’ll briefly explain the process of buying Bitcoin through cryptocurrency exchanges. The first step is to sign up for an account. After signing up, you need to verify your account and provide personal information along with scans of the required documents in compliance with the Financial Conduct Authority (FCA). The next and final step is to deposit GBP. Some of the payment methods supported in the UK are domestic bank transfer, international bank transfer, and using your debit or credit card.

If you are based in the UK and looking for a secure and fast way to purchase Bitcoin we recommend CEX.io. The exchange allows domestic bank transfers, international bank transfers, or debit and credit card payments (with Visa/Mastercard). If you are a PayPal user, the same Visa/Mastercard can be linked to your PayPal account. Moreover, apart from their excellent customer support, the exchange also provides iOS and Android mobile apps, allowing you to trade from your smartphone.

Coinbase is another famous crypto exchange that we recommend for its user-friendly interface, minimal design, and basic trading features. The exchange only supports four cryptocurrencies for trading: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). You can purchase them using GBP, USD, EUR, AUD, and CAD.

Finally, our overall favorite cryptocurrency exchange is CoinJar. The exchange is based in the UK, meaning that you’re able to deposit GBP right away. The exchange also provides some of the lowest fees as well as an iOS and Android mobile app, allowing users to trade cryptocurrencies whenever they want.

Once you purchase your first BTC, you’ll need to store them into a Bitcoin wallet of your choice, but we recommend getting a hardware wallet.

Buy Bitcoin with Cash

Don’t get tricked into using one of the numerous sites promoting quick and easy ways to buy Bitcoin with cash through peer-to-peer exchanges such as LocalBitcoins and Paxful. Peer-to-peer exchanges are not a secure way of buying Bitcoin because you need to meet with an actual person in order to pay in cash, which can be very dangerous as there’s no middleman to guarantee the security of your transaction, or for that matter, your own.

We recommend over-the-counter (OTC) brokers as the safest way of purchasing Bitcoin with cash. However, OTC is suitable only for the needs of large volume investors. OTC brokers are mostly convenient because they allow making large trades anonymously and provide customized services to both individuals and corporations who mainly need high liquidity and privacy.

One of the main advantages of OTC compared to other payment methods is that they can protect you from slippage. Slippage happens when you receive a different price than the one you hoped for on an entry or exit from a trade. With OTC brokers, you are able to quote a strike price for the entire order, regardless of how big it is, while regular exchanges break up the order into smaller parts, which can increase the price.

Our most recommended OTC trading desks are those offered by Bitbuy, Circle, Kraken, and eToro.

Buy Bitcoin from a Bitcoin ATM

Like traditional ATMs, a Bitcoin ATM or (BATM) is a popular method for users to buy Bitcoin. In Liverpool, there are three Bitcoin ATMs: at Yard/District, at Victoria Brow Bar, and at Herman Vapes. All you need to do is visit one of them and enjoy the numerous advantages of this type of BTC purchase: convenience, fast transfer, and security. Most of the Bitcoin ATM machines offer you an option for paying either with cash or using your debit/credit card. However, please keep in mind that BATMs charge high transaction fees ranging between 8-10%.

Frequently Asked Questions

Can I sell Bitcoin and other cryptocurrencies in the United Kingdom?

In the UK, you can buy and sell cryptocurrencies legally in exchange for cash or another type of cryptocurrency on exchange platforms. You can sell Bitcoin (BTC) along with other crypto coins such as Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH) for fiat or other cryptos. One of the ways you can sell it is through a cryptocurrency exchange, Bitcoin ATM, and peer-to-peer platforms.

As mentioned previously, we don’t recommend P2P platforms as there is no intermediary to guarantee the transaction. Also, keep in mind that when it comes to selecting the best alternative, it is vital to ask yourself if you would like to sell for GBP or another cryptocurrency, how fast you would like to finalize the process, the price you are prepared to sell it at, and how you would like to accept the payment.

Is Bitcoin trading with crypto exchanges safe?

Yes, Bitcoin trading on crypto exchanges is considered to be safe. We recommend Coinburp and Binance as two of the safest Bitcoin exchanges for UK traders. The platforms follow AML and CFT policies and carry out KYC checks on their clients. These checks are either mandatory or required to access higher trading and withdrawal limits. Binance also has its own Secure Asset Fund for Users to which it allocates 10% of the daily trading fees.

What are the most popular blockchain-based currencies?

Apart from Bitcoin (BTC), which has been a focus of interest for a long time for traders, and remains the leader of the pack among cryptocurrencies (in terms of highest user base and popularity), other blockchain-based currencies such as Ethereum and Litecoin are gaining traction. Ethereum is the second-largest cryptocurrency in terms of market capitalization and volume. Litecoin is another blockchain-based crypto that has managed to rise up from the competition and currently follows closely behind Bitcoin as the sixth-largest digital currency by market cap.

About The Author

James Page

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James is the main editor. With a passion for finance and anything blockchain, cryptocurrency is right up his alley. He's responsible for most of the content on the site, trying his best to keep everything up to date and as informative as possible.

Disclaimer: Digital currencies and cryptocurrencies are volatile and can involve a lot of risk. Their prices and performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.