When Bitcoin first launched just over 11 years ago, nobody could have imagined just how big the digital currency space would eventually become.
Although the cryptocurrency industry is still growing, it is now a multi-billion pound trading arena. As such, it is now possible to buy, sell, and trade cryptocurrencies through an online broker.
In this guide to cryptocurrency trading for beginners, we explain everything there is to know about cryptocurrency trading in the UK.
This includes a Layman’s overview of how cryptocurrency trading works. including what digital coins you can access, what risks and opportunities you need to consider, and ultimately – how you can get started today.
Table of Contents
How to Trade Cryptocurrencies in 3 Quick Steps
Looking to start trading cryptocurrencies right now? If so, follow the 3 steps outlined below to get started with a cryptocurrency trading account right now!
Step 1: Open a Trading Account
Open an account with a UK broker that gives you access to cryptocurrencies.
Step 2: Deposit Funds
Deposit funds into your account with a debit/credit card, e-wallet, or bank account.
Step 3: Trade Cryptocurrencies
Choose a cryptocurrency pair, select from a buy/sell order, and confirm the trade.
Cryptocurrencies are highly volatile unregulated assets. No EU investor protection.
What is Cryptocurrency Trading?
Put simply, cryptocurrency trading is the process of trading digital currency pairs with the view of making a profit. In this sense, the investment space works exactly like the forex trading in the UK.
This is because you will be speculating on the future value of two competing currencies. But, instead of trading the likes of the US dollar and British pound, you will be trading cryptocurrencies such as Bitcoin and Ethereum.
With that said, there are typically two types of UK cryptocurrency trading categories that you can engage with; fiat-to-crypto and crypto-cross pairs.
Below is an explanation of how each trading stream works.
The vast bulk of the UK cryptocurrency trading scene is dominated by fiat-to-crypto pairs. Each pair will contain one fiat currency and one cryptocurrency.
For example, the pair ETH/USD would consist of Ethereum and the USD dollar, while BTC/GBP would contain Bitcoin and the British pound. Much like ‘real-world’ forex pairs, crypto-to-fiat pairs will change in price near-enough every second. This paves the way for plenty of trading opportunities.
Let’s look at an example of how a fiat-to-crypto trade would work in practice.
- You want to trade BTC/USD – which is the most traded cryptocurrency pair in the industry
- The current price of the pair is $12,500
- This means that for every 1 Bitcoin, you would get $12,500
- You think that the exchange rate of BTC/USD is likely to go up, so you place a buy order
- A few hours later, BTC/USD increases by 3%
- You close the position by placing a sell order, walking away with 3% more than you started with
As you can see from the above example, cryptocurrency trading in the UK works just the same as forex. You simply need to find a pair that you like the look of and then determine whether you think it will go up or down in value.
This particular segment of the UK cryptocurrency trading arena is less common than fiat-to-crypto pairs, but we’ll briefly run you through it nonetheless. In a nutshell, crypto-cross pairs will not contain a fiat currency like the US dollar or Japanese yen. Instead, the pair will contain two competing cryptocurrencies.
This might include pairs such as:
Crypto-cross pairs are more complex to trade, as you don’t have a fiat currency to refer back to. In other words, you are trading the value of one cryptocurrency against another. As such, it can be challenging to know exactly how much you are gaining or losing.
After all, you will eventually need to exchange your cryptocurrency profits back to GBP, which will fluctuate in value!
Investing in Cryptocurrencies
It is crucial to note that there is a clear difference between trading cryptocurrency and investing in it. Everything we have discussed on this page centres on cryptocurrency trading, meaning that you will be speculating on the short-term price movement on your chosen pair.
As we uncover in more detail later, most cryptocurrency traders will either engage in a day trading or swing trading strategy. Meaning that positions are kept open anywhere from a few minutes to several weeks. However, if you are looking to invest in the long-term value of cryptocurrencies, then you will not actually be trading cryptocurrency.
Instead, you will be purchasing the underlying asset and keeping hold of the coins for several years. This is no different from investing in a blue-chip stock and keeping it in your portfolio until you are ready to cash the shares out. If this is something you are interested in, you’ll want to use a safe and cost-effective broker like eToro.
Crucially, you can buy cryptocurrencies like Bitcoin and Ethereum without paying any fees or commissions. In addition, the coins will be stored with the broker until you sell them.
What Cryptocurrencies Can You Trade?
There are thousands of cryptocurrencies active in the market, meaning that you have plenty of pairs to choose from. Before we get to that, you should note that most FCA brokers will only host cryptocurrency pairs that contain the US dollar.
This is because the US dollar is the de-facto currency in the industry. Much like it is with commodities like oil, gold, silver, and natural gas.
Nevertheless, we’ve listed some of the most commonly traded cryptocurrencies below:
- Bitcoin Cash
- Ethereum Classic
- Binance Coin
If you want to access small-cap digital currencies like ERC-20 tokens, you will likely need to use a conventional cryptocurrency exchange. You should tread with caution here, as most exchanges operate unregulated.
Moreover, very few offer traditional deposit methods like a debit/credit card or bank transfer. Even if they do, transaction fees are often extortionate.
Why Trade Cryptocurrencies?
Cryptocurrencies fall within the remit of ‘alternative’ investments. That is to say, they are a far cry from traditional asset classes like stocks, ETFs, mutual funds, or real estate. With that said, there are several key reasons why cryptocurrency trading in the UK is becoming so popular. We’ve gone into more detail below.
When trading traditional marketplaces, you are usually capped by fixed trading sessions. For example, the London Stock Exchange is open Monday to Friday, between the hours of 8 am and 4.30 pm. Outside of these hours, you will not be able to place buy or sell positions.
This can be particularly frustrating if you want to take advantage of an investment opportunity, or you want to offload shares that are going down in value.
This isn’t the case with trading cryptocurrency in the UK scene, as the markets operate 24 hours per day, 7 days per week. After all, you will be joining millions of fellow traders worldwide, so there is always good activity and volume around the clock.
Profit From Rising and Falling Markets
When trading cryptocurrencies in the UK, you are best advised to use a regulated CFD trading broker. In doing so, not only can you be 100% sure that your money is safe, but you will have a range of trading tools and features at your disposal.
At the forefront of this is the ability to profit from both rising and falling markets. By this, we mean that you will always have the choice between a ‘buy’ and ‘sell’ order.
- By placing a buy order, you are speculating on the value of the cryptocurrency pair going up
- When placing a sell order, you are speculating on the value of the cryptocurrency pair going down
This allows you to enter make gains no matter how the cryptocurrency markets are performing.
Leading on from the section above, cryptocurrency trading platforms that specialise in CFDs also permit leverage facilities. For those of you who are unaware, this allows you to trade with more than you have in your account. If you are a retail trader based in the UK, you will be capped by the limits imposed by ESMA.
On cryptocurrencies, this stands at 1:2. Put simply, this means that you can trade cryptocurrencies with twice the amount than you have in your account. So, a £500 balance would permit a buy or sell order worth £1,000.
With that said, if you seek even higher limits, it might be worth considering a regulated offshore broker like FinmaxFX. In doing so, you will have access to cryptocurrency trading leverage of 1:10. This means that you can trade with 10 times the amount you have in your account.
Cryptocurrency Trading Risks
All forms of trading come with an element of risk. As an emerging asset class, the risks of trading cryptocurrencies are much higher than that of stocks and shares. After all, you have decades worth of historical data and information to feed off of, alongside a heavily regulated infrastructure. Cryptocurrencies, on the other, have been around for just 11 years.
- Volatility: Cryptocurrencies are far less volatile than they once were. However, it is still not overly uncommon for the value of digital currencies to increase or decrease. Sometimes by double-digit percentages in the space of a single trading day. As such, both your profits and losses can move at unprecedented rates.
- Spreads: When assets possess volatile characteristics, this often results in wider spreads. In turn, this can add to your trading costs. This is often the case with cryptocurrencies, so it’s important to bear this in mind.
- Unregulated Platforms: Although all of the brokers that we discuss on this page are regulated, not all providers are. This is especially the case with cryptocurrencies, as much of the industry operates without the backing of a tier-one licensing body. As such, make sure your chosen broker is regulated before signing up.
Ultimately, there is no guarantee that you will make money by trading cryptocurrencies, so make sure that you consider the risks before taking the plunge.
Cryptocurrency Trading Strategies
Those making money in the UK cryptocurrency trading arena do so because they have at least one solid strategy in place. Without one, you will be trading blindly. There are many different strategies to choose from, each with their own risk vs reward ratios.
Below we have listed a few different trading strategies regularly used by traders.
Day trading involves entering buy and sell positions on a super short-term basis. In fact, rarely will day traders keep a position open overnight. On the contrary, the trader might close a position a number of hours or even minutes after entering the market.
With this in mind, day traders will chase small profit margins. But, as the trader might place dozens of trades per day, these small gains can very quickly add up. Crucially, day trading is somewhat low-risk, this is because you won’t be keeping the position open long enough to encounter large losses.
Swing trading cryptocurrency is more of a short-to-medium term cryptocurrency trading strategy. The trader in question might keep a position open for a few days, or even weeks. But, rarely will they hold onto a position for more than a couple of months. This particular strategy is specifically concerned with ‘catching’ a trend.
For example, if BTC/USD goes on a prolonged downward spiral, they will look to keep their short-sell position open for the duration of the trend. Then, when it appears the trend is likely to reverse, the swing trader might place a buy order to catch the upward price action.
Buy and Hold Strategy
This particular cryptocurrency trading strategy is suited for long-term investors. Known as a ‘buy and hold’ strategy, this simply means that you will be buying a digital currency like Bitcoin, and keeping hold of the coins for several years.
Buy and hold investors have little interest in short-term technical movements. Instead, they are happy to ride out volatile market waves by looking at the long-term picture.
Cryptocurrency Trading Fees
If you want to trade cryptocurrencies online, your chosen broker will charge you a fee of some sort. This can vary wildly depending on the broker in question.
The main cryptocurrency fees that you need to be aware of are:
Let’s take popular cryptocurrency broker Coinbase as a prime example:
- Coinbase charges a trading commission of 1.5%
- You decide to buy £1,000 worth of Bitcoin, so you pay a commission of £15
- When Bitcoin is worth £2,000 you decide to cash out your gains
- At 1.5%, this amounts to a commission of £30
- In total, you paid £45 in trading commissions to Coinbase
Make no mistake about it – paying a commission of 1.5% to trade cryptocurrencies in the UK is considered expensive. Crucially, most of the cryptocurrency trading sites that we recommend allow you to trade without paying a single penny in commission. This includes platforms like eToro, Plus500, Capital.com, and even old-school platform IG!
Spreads are often overlooked by newbie cryptocurrency traders. In a nutshell, this refers to the gap in pricing between the buy and sell price of your chosen cryptocurrency pair. You can calculate the spread in percentage terms, as this allows you to assess how competitive the market is.
- Let’s say that you are trading XRP/USD
- The ‘buy’ price is $25.00
- The ‘sell’ price is $24.50
- The difference between the two prices is 2%
In simple terms, you will need to make gains of at least 2% just to cover the spread. This is actually expensive. You should be able to get your spread down to well below 1% when using one of our suggested cryptocurrency platforms.
On top of the commission and spread, there are several other fees that you need to take into account.
- Deposit/Withdrawal Fee: Some trading platforms charge fees for deposit and withdrawals, especially in the cryptocurrency scene. Coinbase, for example, charges a whopping 3.99% to deposit funds with a debit card, which is huge. Most of the platforms on this page allow you to fund your account fee-free.
- Overnight Financing: If you decide to trade cryptocurrencies with leverage, be aware of overnight financing fees. This is charged for each full trading day that you keep your position open. You are effectively borrowing the funds from your broker.
- Inactivity Fee: Some brokers will charge you a fee when your account is marked as dormant. This is usually after 12 months of inactivity. Once the inactivity period kicks in, you will be charged every month until you place a trade. If you don’t, your account balance will continuously be charged until the balance is zero.
To give you an idea of what fees you will pay. We’ve compared some of the most popular UK cryptocurrency trading sites, check out the comparison list below.
|Crypto Broker||Commission||Deposit Fees||Minimum Deposit||Max Crypto Leverage|
|eToro||0%||0.5% currency conversion||$200||1:2|
|IG||0%||Free (0.5%-1% on credit cards)||£250||1:2|
Ultimately, you need to review the broker’s fee schedule before opening an account.
Cryptocurrency Trading Software
Cryptocurrency trading software is more commonly referred to as a robot, bot, or automated system. Either way, the sole purpose of the software is to buy and sell cryptocurrency pairs on your behalf. Everything is 100% automated, meaning that you can trade in a passive manner.
This is particularly useful if you have little to no experience of how cryptocurrency trading in the UK works. Similarly, robots are great if you simply don’t have the time to trade. The cryptocurrency trading software is usually backed by an advanced algorithm. It is tasked with following strict ‘what if’ conditions, and will only trade when it’s pre-built parameters are met.
In order to deploy a cryptocurrency trading robot, you will need to use a broker that supports a third-party platform like MetaTrader 4/5.
Here’s how it works:
- First, you purchase a cryptocurrency trading robot from a verified online provider
- Next, you download the software to your desktop device.
- You log into MT4 with your brokerage credentials
- Then you install the trading software into MT4
- Finally, you adjust the settings (such as stakes, leverage, etc.) and authorize the robot to trade on your behalf
Once the robot is deployed, it will continue to scan the cryptocurrency markets on a 24/7 basis – constantly looking for trading opportunities.
Cryptocurrency Trading Signals
Although cryptocurrency trading software can be great for passive investing, it can be somewhat nerve-racking to allow a robot to enter buy and sell positions on your behalf. After all, there is always the possibility that the robot malfunctions, subsequently blowing through your entire bankroll.
With that in mind, it might be better to consider a cryptocurrency trading signal service. Put simply, the provider will have an automated robot of their own, which is also tasked with scanning the cryptocurrency markets. Then, when the algorithm identified a profit-making opportunity, it will send you a ‘signal’.
One such provider that appears to dominate the cryptocurrency signal space is that of Learn 2 Trade. The UK-based provider will send you up to 3 signals per week on its free plan. If you upgrade to a premium account (which starts at just over £14 per month), you will receive 3-5 signals per day.
Each Learn 2 Trade signal will contain the following information:
- Cryptocurrency pair
- Buy or sell order
- Entry price
- Stop-loss price
- Take-profit price
The signal itself is sent to you in real-time via Telegram. This ensures that you do not miss the trading opportunity.
Cryptocurrency Trading Bots
Cryptocurrency bots operate much the same way as cryptocurrency trading software. You can find more information about cryptocurrency bots in the section above.
Cryptocurrency Trading Tips
Interested in trading cryptocurrencies in the UK, but not too sure where to start? Before you dive in head first, be sure to read through the following five tips.
Tip 1: Stick With Regulated Platforms
First and foremost, it is important that you only use a cryptocurrency trading platform that is regulated. Most of the platforms on this page are licensed by the FCA. This means that your funds are protected at all times. Crucially, if your chosen broker isn’t regulated, you should avoid it.
Tip 2: Only Trade Fiat-to-Crypto Pairs
If you’re a complete newbie, you are best advised to stick with fiat-to-crypto pairs. This should include the likes of BTC/USD and ETH/USD, as these two pairs dominate the vast bulk of UK cryptocurrency trading volume.
At the other end of the spectrum, you should consider avoiding crypto-cross pairs. As we discussed earlier, it is somewhat difficult to know how much you are making, as the pair doesn’t have a fiat currency to refer to.
Tip 3: Use a Demo Trading Facility
Most of the brokers listed on this page allow you to trade via a demo account. This is 100% risk-free, as you will be trading with ‘paper funds’.
If you end up blowing your entire balance, this is a sure-fire way to know that you are not quite ready to trade with real-world capital.
Tip 4: Start With Small Stakes and Avoid Leverage
Once you are ready to upgrade to a real-money account, you should be cautious of your stake size. It’s better to keep things to a minimum, as there is every chance that you will encounter more losing trades than winning ones when first starting out.
Similarly, you should also avoid applying leverage to your trades until you are making consistent gains. After all, leverage can amplify both your profits and losses, so an unsuccessful trade can end up burning your balance in its entirety.
Tip 5: Consider Cryptocurrency Signals
If you have virtually no idea how to read or analyse charts, you likely won’t succeed as a cryptocurrency trader. This is because you won’t be able to identify pricing trends, and how these trends relate to current pricing action.
Until you learn your craft, it might be worth considering a cryptocurrency signal service. As we noted earlier, this will alleviate the need for you to perform research. Instead, this role is reserved for the algorithm backed by the signal provider.
Best Cryptocurrency Trading Platforms
In order to trade cryptocurrencies in the UK, you will need to choose a reliable trading platform. There are hundreds of providers active in the space, so you need to do some research before taking the plunge.
If you don’t have time to find a suitable broker yourself, below you will find a select of the best UK cryptocurrency trading platforms of 2020.
1. eToro - Overall Best Cryptocurrency Trading Platform UK
eToro is a hugely popular online broker that is now home to 12 million traders. On top of stocks, indices, ETFs, commodities, and forex - you will have access to a fully-fledged cryptocurrency trading facility. This includes 16 cryptocurrencies that you can own in the traditional sense. You can also trade each and these cryptocurrencies via CFDs. Alternatively, if you have a bit of experience in online trading, eToro also gives you access to crypto-cross pairs.
What we also like about the platform is that you can trade cryptocurrencies against various fiat currencies. This includes the US dollar, British pound, Australia dollar, Japanese yen, and more. Irrespective of what digital currencies you decide to trade, eToro does not charge any commissions. The platform is particularly popular with newbie traders, as it is very simple to use.
There are no overly baring features that you need to be mindful of, which is ideal for first-timers. If you're interested in passive income, it is worth considering the Copy Trading tool at eToro. This allows you to select an experienced cryptocurrency trader, and then mirror their buy/sell orders like-for-like. You can trade on the eToro platform online or via its mobile app. The latter is available to download free of charge from the Google Play and Apple Store.
When it comes to opening an account, this takes just minutes. You will need to meet a minimum deposit of $200, which is about £160. eToro supports everything from debit/credit cards, Paypal, Skrill, Neteller, and traditional bank wire. The site is regulated by the FCA, meaning that you can trade cryptocurrencies in a safe and secure platform.
- Trade cryptocurrencies commission-free
- Regulated in the UK by FCA
- Social trading tools
- User-friendly trading platform
- 0.5% currency conversion fee on deposits
2. Plus500 - Low Cost Stock CFD Trading Platform
Plus500 is also popular with those that wish to trade cryptocurrencies. You can open an account from just £100, and all deposits and withdrawals are fee-free. You can do this via a debit/credit card, Paypal, or bank transfer. Plus500 supports heaps of cryptocurrencies - all in the form of CFDs. Each pair contains the US dollar, so trading volumes and spreads and typically favourable.
Much like eToro, Plus500n allows you to trade without paying any commission. You can access the cryptocurrency trading arena via the Plus500 website or through its mobile app. All cryptocurrency pairs can be traded with leverage. This stands at 1:2 if you are a UK retail trader. Plus500 is in possession of several trading licenses, including that of the FCA.
- No withdrawal fees
- 0% trading commission
- FCA regulated
- No educational material
3. Capital.com - Tight Spreads and Commission-Free
Capital.com is an FCA broker that offers several asset classes. On top of cryptocurrencies, this also includes stock CFDs, indices, forex, and hard metals. You will have access to lots of digital currency markets - which includes both fiat-to-crypto and crypto-cross pairs.
All markets at Capital.com are commission-free. Spreads are also competitive. For example, BTC/USD can be traded with an average spread of just 34 pips. The platform is simple to use, and it can be accessed online or via your phone. In particular, Capital.com is popular with newbies, as the broker offers lots of educational materials.
Additionally, we like the fact that you can get started with a minimum deposit of just £20. You can fund your account with a debit/credit card, e-wallet, or bank transfer. Crucially, the Capital.com platform is regulated by the FCA, so you should have no concerns regarding safety.
- Get started with just £20
- No commissions and tight spreads
- Great for newbies
- Minimum £250 deposit when using a bank transfer
4. IG - Established Broker With MT4
IG is a trusted UK broker that offers several investment options. On top of share dealing and spread betting facilities, this also includes 17+000 CFD markets. This includes a good selection of cryptocurrency trading cryptocurrencies. For example, you can access coins such as Ethereum, Bitcoin, EOS, Stellar, NEO, Ripple, Bitcoin Cash, and more.
Spreads are very competitive, with the likes of Ethereum starting at just 1.2 pips. A stand-out feature of IG is that it allows you to trade cryptocurrencies via MT4. This opens up a world of possibilities. For example, you install a cryptocurrency trading robot and will have access to dozens of technical indicators.
Much like the other brokers on this list, you will have the option of applying leverage to your cryptocurrency trades. As you will be trading CFDs, you can also short-sell your chosen digital coin. You can easily open an account with IG from the comfort of your home, but you will need to need a minimum deposit of £250. The broker is FCA-regulated.
- Spreads from 0.6 pips
- Supports MT4 trading platform
- Excellent research department
- 1% fee when using Visa and 0.5% via MasterCard
- Spreads on some crypto pairs are somewhat expensive
5. FinmaxFX - High Leverage Limits
Although FinmaxFX won't be for everyone, the offshore broker is likely to be of interest if you seek much larger leverage limits. This is because you can trade cryptocurrencies with leverage of 1:10. That is five times larger than the 1:2 cap imposed by UK brokers. As such, a £200 account balance would allow you to enter a buy/sell position worth £2,000.
FinmaxFX is also worth considering if you want to deploy cryptocurrency trading software. This is because the platform is compatible with MT5. This can be accessed via the FinmaxFX website, desktop software, or an Android/iOS app. Fees will vary at the broker, as it depends on the asset and the account type you are on.
- Leverage of 1:10 on cryptocurrencies
- Accepts most popular payment methods
- Bonus available to new customers
- Trading fees are somewhat high
- Not FCA regulated
How to Start Trading Cryptocurrency Today
Ready to start buying and selling cryptocurrency right now? If so, follow the guidelines outlined below to have your first trade placed within minutes!
Note: We are showing you the process with FCA broker eToro. Not only will you have access to 16 pairs in a safe and secure environment, but you won’t pay any trading commissions.
Step 1: Open a Cryptocurrency Trading Account
Head over to the eToro website and open an account.
You’ll need to provide some personal and contact information. You’ll also need to select a username and password, as well as confirm your email address and mobile phone number.
Additionally, eToro will ask you to upload a copy of the following:
- Passport or driver’s license
- Utility bill or bank account statement, dated within the last 3 months
Once verified, all account restrictions will be removed. eToro is typically able to do this within minutes.
Step 2: Deposit Funds
You will now need to deposit some funds. Supported payment methods include:
- Debit card
- Credit card
- Bank Transfer
Minimum deposits at eToro amount to $200. You will incur a small 0.5% currency conversion fee at the point of the deposit.
Step 3: Place a Cryptocurrency Trade
Once your account has been funded, browse through the eToro cryptocurrency library to select a pair to trade. If you know which cryptocurrency you want to trade, enter it into the search box and click on the result that pops up.
Then, click on the ‘Trade’ button.
You will now need to select from a buy or sell order. To keep things simple, avoid leverage and market orders. Instead, you merely need to enter the amount that you wish to trade – in US dollars.
Once you confirm the order, it will be matched at the next available price. You can manually exit the position at any time.
In summary, cryptocurrencies operate in an ever-growing marketplace that is now home to billions of pounds worth of trading volume each and every day. The industry is now open to all UK traders – as everything is facilitated via an online trading platform.
You simply need to open an account, deposit some funds, and choose which cryptocurrency pair you wish to trade. If you want to benefit from commission-free trading and simple user interface, it might be worth considering FCA broker eToro.
You can even copy an expert cryptocurrency trader like-for-like, meaning that you can access the market without lifting a finger. Just make sure you understand the risks of trading before taking the plunge, as there are no guarantees that you will make money.
eToro: Best Platform to Buy Bitcoin in the UK
- Buy Bitcoin with 0% commission
- Cryptocurrency wallet
- Social and copy trading tools
- PayPal accepted
How does Cryptocurrency trading work?
Cryptocurrency trading in the UK works much like the forex scene. That is to say, you will be buying and selling cryptocurrency pairs with the view of profiting from short-term pricing movements.
What is the best online cryptocurrency trading site for a beginner?
If you want to trade cryptocurrencies, but you are somewhat of a novice, it might be worth using eToro. The commission-free platform was designed from the ground-up with newbies in mind.
What is the best cryptocurrency trading app?
Most of the platforms on this page offer fully-fledged cryptocurrency trading apps. Once again, eToro stands out for the ease in which you can trade, and the fact that no commissions are charged, which makes it our pick for the best cryptocurrency trading app.
What is the best trading bot for cryptocurrency?
There are hundreds of cryptocurrency bots active in the market - most of which will lose you money. With that said, some providers do offer verified trading results, so you are best advised to perform some research on the bot before parting with your cash.
How do I trade Bitcoin?
If you want to trade Bitcoin online, you will need to sign up with a regulated broker that offers cryptocurrencies. Then, you simply need to deposit some funds and determine whether you think Bitcoin will increase or decrease in value.
Do UK cryptocurrency trading platforms offer leverage?
If you're using a UK-based CFD broker, then you will likely be offered leverage. Take note, this is capped at 1:2 on cryptocurrencies. If you want higher limits, you might need to consider an offshore broker like FinmaxFX.