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Author Topic: Cheapest way to buy Bitcoin from UK  (Read 982 times)
unlimited_020
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September 19, 2014, 09:51:22 PM
 #1

Hi,

I have been buying bitcoin through the Kraken exchange. I really like the exchange. However, I am from the UK so it is very expensive to fund money to my account. Kraken is based in Germany so I have to use a SEPA transfer. For example, If I deposit £300, it costs me me approx £40 in fees. Is there a cheaper way to buy bitcoin from the UK? Are there any exchanges in the UK?
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September 19, 2014, 10:27:41 PM
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Bittylicious is a uk-based exchange but they also usually charge a premium on the price, but it may be cheaper for you. Alternatively you could buy from the currency exchange sub forum here.

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fabiola!
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September 19, 2014, 10:35:59 PM
 #3

Hi,

I have been buying bitcoin through the Kraken exchange. I really like the exchange. However, I am from the UK so it is very expensive to fund money to my account. Kraken is based in Germany so I have to use a SEPA transfer. For example, If I deposit £300, it costs me me approx £40 in fees. Is there a cheaper way to buy bitcoin from the UK? Are there any exchanges in the UK?

Bitstamp has been good, it's based in Slovenia though. It takes about a week for the £££ to get there after sending, and vice versa when transferring £££ back. Is Kraken any faster?

Smiley
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September 19, 2014, 10:38:45 PM
 #4

Not exactly an exchange, but you can also try https://localbitcoins.com/ and see if somebody wants to sell some coins around you.

Also, wouldn't it be cheaper to sign up for an online payment processor, send your money there and pay to an exchange e.g. Kraken with the online payment processor for a much smaller fee? I'm not sure about this, just a thought...
Cyrus
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September 19, 2014, 10:49:17 PM
 #5

[...] I have to use a SEPA transfer.[...] If I deposit £300, it costs me me approx £40 in fees. [...]

As far as I know, SEPA transfers shouldn't be this expensive. Are you sure you are transferring through SEPA?

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