Bitpanda UK (2024)

FAQs

Can you use Bitpanda in the UK? ›

A Bitpanda card is a Visa debit card that can be used worldwide wherever Visa is accepted.

The reach of Bitpanda's services includes, but is not limited to, a diverse array of countries such as Australia, Austria, Canada, Finland, France, Germany, Greece, Ireland, Italy, Malta, the Netherlands, Poland, Spain, Sweden, Switzerland, the United Kingdom, and others.

The United Kingdom

The U.K. has allowed cryptocurrency use since it was first introduced, using existing policies and growing experiences to help it develop a framework for cryptoasset regulation. The government regulates the following crypto assets: Exchange tokens (cryptocurrencies) Asset-referenced tokens.

Which UK banks allow payments to Coinbase? To our knowledge, Revolut, Monzo, Xace, Cashaa, Orounda, Royal Bank of Scotland, NatWest, Nationwide, Barclays, Santander, Metro Bank and Halifax all allow payments to Coinbase.

Which UK crypto exchange is the safest? eToro is one of the safest crypto exchanges in the UK due to its stringent FCA regulation, robust security measures, and strong reputation within the industry.

The cheapest way to buy Bitcoin depends on various factors such as your location, payment method, and desired trading volume. Generally, using a cryptocurrency exchange with low trading fees and choosing a cost-effective payment method like bank transfers or ACH transfers can help minimize costs.

Like stocks and shares, the value (in 'normal' currency) of cryptoassets can go up or down. HMRC do not consider cryptoassets to be currency or money, or that buying or selling cryptoassets is gambling. This means that, in HMRC's view, profits or gains from buying and selling cryptoassets are taxable.

Furthermore, persons with US citizenship or who are located in the United States may not become a Bitpanda user according to regulatory reasons.

How trustworthy is Bitpanda? ›

Bitpanda holds all assets of customers as a trustee and these are 100% backed by real assets and kept in a highly secure environment (warm and cold wallets).

The company was founded in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer. The company was first called Coinimal and changed its name to Bitpanda in 2016.

Open a crypto exchange account

Most crypto traders buy and sell crypto assets via a crypto exchange. Those new to crypto trading will need to choose an exchange and sign up for an account. Once a trader has chosen which exchange they want to use, they'll need to create an account.

UK residents are required to complete an assessment to show they understand the risks associated with what crypto/investment they are about to buy, in accordance with local legislation. Additionally, they must wait for a 24-hour “cooling off” period, before their account is active, due to local regulations.

Fortunately in the UK, you can buy Bitcoin on Coinbase's centralized exchange. Coinbase is the most trusted platform in the UK for buying, selling and trading Bitcoin. It's quick and easy.

With Revolut, you can buy Bitcoin with GBP and more

Buy, hold, and sell Bitcoin directly in-app. With Revolut, you can get in on the crypto action in the same app you use to manage your money.