How to buy Bitcoin (BTC) with a debit card from the UK

By   |   Verified by Andrew Boyd   |   Updated 15th September 2022

Using a debit card to buy Bitcoin is fast and widely supported at many crypto exchanges.

Below you’ll find a complete guide to buying Bitcoin with a debit card in the UK — including exchanges that accept British debit cards — and a step-by-step guide for new investors.

Unsure about what exchange to use?

Where to buy Bitcoin with a debit card

eToro Crypto

On eToro's website

eToro Crypto

Highlights

  • Trade and stake a range of crypto assets with low fees.
  • Copy successful traders. Practice with a demo account.
  • eToro is regulated by CySec, FCA and ASIC.


Disclaimer: Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply. Please give the risk warning sufficient screen time and prominence.


Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.
CoinJar

On CoinJar's website

CoinJar

Highlights

  • Buy and sell digital currency on desktop and mobile devices with a flat 1% fee.
  • Buy digital currencies using your Visa or Mastercard with a low fee of 2%.
  • Set up price alerts so you never miss a well-timed opportunity.

Pros

  • Extremely user-friendly interface.
  • You can use a credit card or debit card to buy crypto.
  • Has a competitive fee structure.

Cons

  • Limited crypto tokens to trade compared to other platforms.
Coinsmart

On Coinsmart's website

Coinsmart

Highlights

  • Get $20 in BTC with your first deposit.
  • Trade major coins and popular altcoins including Dogecoin, Cardano, Solana, Polkadot, and Polygon.
  • Fund your account with wire transfers, credit / debit cards, or crypto with access to trade funds the same day.

Pros

  • Low trading fees.
  • Deposits are cleared within the day.
  • Supports CAD, EUR, and USD.
  • Get 24/7 customer support.

Cons

  • Limited coins.
  • Fee applies to credit card and debit card deposits.

First time buying?

How to buy Bitcoin with a debit card

Step 1: Select a crypto exchange

To buy Bitcoin with a debit card, sign up with an exchange that supports deposits made with a debit card (most do).

You can compare different crypto exchanges here on Finty. All the exchanges listed on this page accept deposits made with debit cards.

When comparing crypto exchanges, important factors to consider include what the exchange’s commission is to buy Bitcoin, if there are any fees when depositing and withdrawing funds, and what tokens are available apart from Bitcoin.

You may be interested to compare other features like the ability to stake crypto with the exchange and yield a reward, get access to your account balance with a card, etc.

Step 2: Confirm your identity

After your account has been set up, verify your identity by providing your driver’s licence, passport, or another form of government-issued ID. Some crypto exchanges also require an image of yourself holding the photo ID so they can verify it’s really you setting up the account.

Step 3: Decide how much to invest

Given that Bitcoin’s price is highly volatile, be careful about how much you invest in it. The general rule of thumb is that you should only invest what you can afford to lose.

Step 4: Deposit funds in your exchange account

Next, you can deposit funds in your exchange account. Using a debit card is typically the fastest way to deposit funds.

  • Not all banks allow their cards to be used to buy Bitcoin.
  • There are alternative funding options if your bank blocks transactions at crypto exchanges, but you still want to buy Bitcoin. For example, you could transfer funds to your PayPal account and use it to deposit funds at the exchange.

Step 5: Place an order

There are generally three different types of orders: market, trigger, or recurring.

Market orders execute immediately at the next available price and require practically no configuration whatsoever. By configuring a trigger order, you can set a target price at which you watch the order to be executed. You may be able to set up recurring orders to buy a certain amount of Bitcoin periodically, e.g. buy £100 of Bitcoin every month (if there are enough funds in your trading account at the exchange).

Step 6: Buy Bitcoin

Once the order of your choice has been configured, you can execute the transaction.

Still not sure?

Pros and cons

Pros

  • Fast and convenient. Buying Bitcoin with a debit card is faster than using a bank transfer.
  • Limits speculation. You can only buy as much as you have available to use in your bank account, limiting the risk of investing too much in a speculative and volatile asset.

Cons

  • Limited bank support. Not every bank permits their customers to use their own debit card to buy Bitcoin.
  • Less fraud protection compared to a credit card. Although debit cards are more widely accepted compared to credit cards, there is less consumer protection.
  • Transaction fees. Exchanges may charge a fee to process deposits made with a debit card.

Extra help

FAQs

How long does it take for funds to transfer using a debit card?

Funds deposited into your exchange account using a debit card are typically available to use immediately.

Can I buy Bitcoin with a debit card anonymously?

You can purchase bitcoins with a debit card anonymously on decentralised peer-to-peer exchanges.

Can I buy other cryptocurrencies with a debit card?

Yes, you can buy other cryptocurrencies with a debit card. Once you have funded your trading account at the exchange, select the cryptocurrency you want to buy, fill out the order form, and complete the purchase.