As of May 24, 2018, the price of Bitcoin in Pounds is £5,602.2. The currency pair BTC/GBP is one of the most popular after the BTC/USD pair and is offered by many renowned cryptocurrency exchanges.
The cryptocurrency market had largely experienced a bearish run in the first quarter of 2018. Even though the bearish trend has slightly given way in the second quarter, the price of Bitcoin in USD has yet to cross and stay above the $10,000 mark for an extended period of time.
According to Cboe’s April report, Bitcoin is likely to continue feeling the effects of the bearish trend in Q2. Cryptocurrency regulations by several countries like China and South Korea are another reason for such a long bearish trend. One more factor for the price drop is the increased number of new ICOs launching every day.
However, several cryptocurrencies are currently hitting a bullish trend and many cryptocurrency enthusiasts have been rooting for Bitcoin (BTC) as well. For instance, Tim Draper has forecasted that the price of Bitcoin will go beyond $250,000 in a few years.
Where to buy Bitcoin with Pounds
Coinfloor has garnered the best of UK’s bitcoin brokers to come up with a simple way of buying Bitcoin.
The focus of Coinfloor exchange has always been to provide a safe and secure platform for buying and selling Bitcoin in the UK. Coinfloor investors include the likes of Passion Capital and Taavet Hinrikus.
Currencies offered by the UK-based Coinfloor exchange include Pound Sterling, Euro, Polish Zloty and US Dollar.
Coinfloor has decided to reinstate GBP withdrawals and increase the minimum amount for deposits and withdrawals. The minimum deposit amount has been increased from 2,500 to 5,000 GBP and the minimum withdrawal amount has become 2,000 for GBP. The deposit charges for GBP remains at £5 while the withdrawal charges have increased to £60.
Coinfloor is registered at Companies House and also follows the norms of the Financial Conduct Authority (FCA) in the United Kingdom and the European Commission. The information provided by the users is transmitted through the Transport Layer Security (TLS) protocol. The Two-Factor Authentication (2FA) system also strengthens the security system of the exchange.
It is a reputable cryptocurrency exchange that started its journey in 2013. The exchange offers multi-level accounts to enhance the experience of the beginner as well as the veteran cryptocurrency trader. Along with USD, EUR and RUB, the cryptocurrency exchange allows users to with GBP using a debit or credit card. The minimal order in the base for the BTC/GBP pair at CEX.IO is 0.01 while the minimal order in the quote is 20. The taker-maker trading fees differ; they range from 0.1-0.25% for takers and 0-0.16% for makers.
Within a variety of tools available, the users of CEX.IO can benefit from cross-platform trading, API solutions, and margin trading functionality.
CEX.IO has also built the customer loyalty by virtue of advanced security measures and responsiveness to customer needs. The company has been running as legal entity incorporated under the Companies Act (UK), registered as a Money Services Business within FinCEN (USA), and certified for compliance with PCI DSS (as for processing, transmitting and storing credit card data). The 2FA and cold storage options are also available.
Recently, CEX.IO has joined the UK cryptocurrency trading association, CryptoUK, as one of the founders. The organization aims at developing high standards for the cryptocurrency industry and streamlining the activity of all its participants.
GDAX is the cryptocurrency exchange of Coinbase that offers top cryptocurrencies like Bitcoin, Ethereum, and Litecoin for trading. Traders from almost all over the U.S. can invest in currency pairs like BTC/GBP, BCH/BTC, BTC/USD, ETH/EUR, ETH/USD, LTC/BTC and LTC/USD.
GDAX also provides Two-Factor Authentication (2FA) for extra security.
A user can deposit funds directly into GDAX or can even deposit them in their Coinbase account. It will be then transferred to the GDAX account and the exchanges between the Coinbase and GDAX accounts are free of charge. GDAX does not charge any fees on maker trades and even provides discounts on all taker fees based on the volume.
It is a renowned Bitcoin exchange based in the UK that offers BTC/GBP and BTC/EUR trading. The user can deposit funds through credit or debit card, SEPA or through bank transfer.
To keep their clients’ accounts and funds secure, CoinCorner has Two-Factor Authentication (2FA) and offers multi-signature cold storage wallets.
The exchange also offers a handy mobile app. Other than Bitcoin, the exchange also offers Ethereum (ETH), Litecoin (LTC) and Ripple (XRP) pairs to their clients.
Coinsbank is a licensed exchange (as it also pertains to the Forex market) that also has stop loss and take profit features. BTC/USD, BTC/GBP, BTC/EUR, and Litecoin and Ethereum currency pairs are provided by Coinsbank.
An advantageous feature is that the exchange allows the users to convert funds at the best rate in case of urgency from one wallet to another. The funds are automatically converted according to the current market rates.
Coinsbank abides by all the laws in their area of operation and allows the users to invest in any currency pair they want to. Bank transfer in GBP has minimum deposit amount of £500 without any extra charge and the withdrawals start from £1,000. The withdrawal fee is 3.5% on a minimum of £100. Verification is required.
The cryptocurrency exchanges discussed above offer a competitive trading environment and easy to navigate interface. The trading charts of BTC/GBP, as well as other currency pairs, are available in all these exchanges so that the traders do not have to access information from other websites and waste precious time. The BTC/GBP pair can also be traded on other exchanges, like Bitfinex, Kraken, and Coinroom.
Though, before using any of the platforms mentioned in this article, do your own research of features, terms and conditions, which will help you to make an informed decision and pick the right exchange for your needs.