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If you’re wondering what’s the best crypto to buy now and how to buy cryptocurrency – the process is actually very simple these days. All you need is an account with an online broker that offers your chosen cryptocurrency and payment method.

You do, however, also need to assess how much the broker charges and whether or not the provider is safe. In this guide, we will showcase the best crypto to buy UK.

How To Buy Crypto UK – Step by Step Guide 2022

A simple step-by-step guide to the best crypto coin to buy right now in the UK has been given below. This quick guide uses eToro, one of the most popular UK cryptocurrency brokers, for this purpose. eToro also has the best app to buy crypto.

  • Open an account with a broker– Find our recommended list below
  • Upload ID – Upload a copy of your passport or driver’s license to verify your identity
  • Deposit – Deposit funds with a UK debit/credit card or e-wallet
  • Buy Cryptocurrency 

We tried to find out what is the best place to buy crypto in the UK and see who has the best app to buy crypto.

Crypto To Buy In The UK – List

LBLOCK – Lucky Block

Lucky Block is the best crypto to buy in the UK. It is an innovative ‘crypto-lottery’ platform designed to provide lottery players with a more rewarding experience. Most traditional lotteries are still using paper tickets and lack a digital presence, as many people may be aware.

In an effort to improve the lotto process by leveraging the power of Binance’s Smart Chain, Lucky Block is one of the most undervalued cryptos. All transactions on the Lucky Block platform will be visible on the public ledger since it is hosted on the blockchain. In addition to reducing the possibility of fraud occurring, it also ensures the integrity of lottery draw results.

Due to the platform’s ability to eliminate geographical boundaries, Lucky Block appears to be a good crypto investment this year. By doing so, Lucky Block can conduct daily prize draws with higher odds of winning for each contestant, thereby creating a ‘worldwide lottery.’

After an incredibly successful pre-sale phase, the allocated tokens on PancakeSwap sold out nearly two weeks in advance of schedule; LBLOCK was listed on PancakeSwap in January 2022. LBLOCK’s price increased over 3,200% following PancakeSwap’s launch, reaching a fully diluted market cap of over $500 million.

As a result of the remarkable success of LBLOCK since listing on PancakeSwap, we will be launching numerous exciting updates shortly. According to its roadmap, Lucky Block plans to apply for listing on major CEXs, including Binance, Crypto.com, and FTX. In addition, the Lucky Block team also announced plans to offer LBLOCK merchandise, create crypto-education platforms, and launch NFT collections as part of the Lucky Block mobile app launch in the coming weeks.

Your capital is at risk.

DEFC – DeFi Coin

Like Lucky Block, DeFi Coin is another of the best coins to buy in the UK. As little as one dollar can buy it in the market, making it very attractive to investors.

It was launched in May 2021. Its original token is known as DEFC. Its popularity is also due to the launch of the DeFi Swap exchange and having about 6,000 members who are part of the official group on the Telegram platform.

Investors can use this token to be exchanged for other decentralized currencies as it is fully tied to the popularity of DeFi Swap. However, it can also be used for lending and asset management.

On the other hand, DeFi Coin has a built-in static reward system to provide a steady flow to DEFC owners. A 10% fee is charged on the position when you want to buy or sell. One-half of the amount you get goes to DeFi Swap’s liquidity funds, and the other half is given back to DEFC owners as a reward.

Not only that, but DeFi Coin also has a built-in static reward system that provides a regular income stream to DEFC holders. Every time someone buys or sells DEFC, a 10% tax is levied on the position. Half of the amount collected is returned to DEFC holders as a reward, while the other half is placed in DeFi Swap liquidity funds.

If you want to buy one of the best coins on the market, such as DeFi, you only need to follow the steps below to make the purchase a complete success:

  • Step 1 – Set Up a Crypto Wallet: In this step, you need to choose a crypto wallet compatible with Binance Smart Chain (BSC). To name a few are the case of MetaMask.
  • Step 2 – Buy BNB: You must select an exchange to buy Binance Coin (BNB).
  • Step 3 – Connect Wallet to DeFi Swap: You need to click where the Connect button is located to do it with the wallet on the DeFi Swap page. Once this is done, you need to follow the steps to link your wallet.
  • Step 4 – Buy DeFi Coin: Here, you only have to choose the exchange from BNB to DEFC, the currency you want to buy, and enter the amount and confirm the transaction.

Your capital is at risk.

BTC – Bitcoin

Since the launch of Bitcoin in 2009, cryptocurrency price charts have always attracted attention. In addition, recent developments in the financial markets have also increased the popularity of cryptocurrency. Since Bitcoin comprises a significant portion of the total market capitalization of cryptocurrencies, Bitcoin is a natural choice for any investor seeking a competitive advantage.

About $3 trillion is associated with the market capitalization of this cryptocurrency. A cryptocurrency traded at $69,000 at its all-time high in November 2021. Visa and Tesla accept Bitcoin as a payment processor since it is the leading payment network. Moreover, it is a unique currency, offering many benefits to its users that set it apart from many others.

It is predicted that Bitcoin’s long-term price will reach $330,000 by the end of 2025, making it an excellent investment. However, Bitcoin is still dominating the crypto charts because of its deflationary tendencies.

Although this crypto is experiencing bearish trends, its strong fundamentals and long market presence have kept it from being affected by price crashes. Moreover, the adoption of this currency by the mainstream can also benefit traders and investors.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

XRP – Ripple

Ripple uses blockchain technology to process international money transfers. Using its technology, hundreds of financial institutions pay low transaction fees and process transactions quickly.

Ripple is often misunderstood as a cryptocurrency. XRP, the native cryptocurrency of Ripple, is not itself a cryptocurrency. XRP can be purchased by those who like Ripple and want to invest in it.

Ripple has some potential but has also been plagued by high-profile problems. Among the most significant moves was a lawsuit filed against it by the US Securities and Exchange Commission (SEC) at the end of 2020.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

ETH – Ethereum

best crypto currencies to invest in

The market capitalization of Ethereum is second only to that of Bitcoin in the entire crypto ecosystem. Using consensus proof-of-work facilitates decentralized financial exchanges. A proof-of-stake system will be implemented in the future.

Developers can develop and implement smart contracts and decentralized applications (dapps) on these open-source blockchain networks without involving third parties.

All of these characteristics make Ethereum a great alternative to Bitcoin. Moreover, Ethereum allows anyone to access decentralized financial products, regardless of nationality or faith.

That is one of the most successful cryptocurrencies since its launch in the financial market. Since its launch, almost one hundred thousand percent has been added to Ethereum’s value, making investors smile.

This coin’s price trend has been bullish in the crypto market recently. Moreover, Ethereum’s DApps and DeFi technologies will spread decentralized financing to every sector over the next few years.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

DOGE – Dogecoin

should i invest in crypto

Dogecoin dominated the news in 2021. Doge’s logo features a Shiba Inu. However, Dogecoin was not particularly popular with investors in 2021.

Elon Musk tweeted about meme coin price charts increasing. As a result, cryptocurrency investors gained confidence when it was listed on popular trading platforms such as eToro—this increased Doge’s value to $0.68, an all-time high.

This cryptocurrency currently ranks 11th in terms of market capitalization. However, there is no upper limit to how many Dogecoins can be mined, so the supply is unlimited.

Those interested in it will find its potential future trends intriguing. A meme coin will be worth $0.64 by the end of 2025. Digital currencies cannot be compared to their future potential based on their past performance.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

APE – ApeCoin

Therefore, the ApeCoin is a crypto asset based on the Ethereum blockchain and is an ERC-20 token. The team behind this project is also responsible for the hugely popular Bored Ape Yacht Club NFT collection. If you’re unfamiliar, the collection consists of 10,000 unique NFT drawings, a few of which have sold for as much as $1 million each.

Bored Ape Yacht Club NFTs have also been acquired by many celebrities, including Eminem, Jimmy Fallon, Justin Bieber, and Snoop Dogg, adding further to their increased market value. Due to this, there are a lot of rumors, speculation, and hype surrounding ApeCoin.

The ApeCoin tokens are fungible, unlike their NFT counterpart. Accordingly, each APE token is worth the same as its counterpart in other cryptocurrencies, such as Bitcoin or Ethereum. As of this writing, just under 28% of 1 billion APE tokens were in circulation, according to CoinMarketCap.

ApeCoin’s most controversial feature is its ability to give 10,000 tokens for free to those with an NFT of Bored Ape Yacht Club. According to the current price of ApeCoins, this amounts to a value of $100,000.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Platforms To Buy Crypto In The UK

1. eToro 

etoro logo

For cryptocurrency traders, the overall best platform that you can use in the UK is easily eToro. This is true for a variety of reasons. Firstly, eToro allows you to trade a variety of asset classes, such as stocks, bonds, commodities, cryptocurrencies, and indices. As far as cryptocurrencies are concerned, you can trade over 17 coins through eToro, including Bitcoin, Ethereum, Ripple, Dash, and Cardano.

In addition to this, the platform is highly regulated by Tier-1 agencies around the world. For example, both the CySEC and the FCA have licensed eToro, making it among the safest platforms out there through which you can invest your funds. eToro is easily the best place to buy crypto in the UK for 2022, and this is for a variety of reasons. 

In certain jurisdictions, eToro also allows you to trade cryptocurrency options, wherein you do not own the underlying asset but make bets on the direction in which the cryptocurrency prices will move. On eToro, you can exchange different cryptocurrencies for fiat currencies such as USD, GBP, and EUR. At the same time, crypto cross-trading is also permitted through eToro, wherein you can exchange different cryptocurrencies for each other. eToro does not charge any commissions, and the only charges you pay to trade through eToro are the spreads that they charge whenever you choose to buy or sell an asset. best crypto to buy

For traders who might not have a very high level of experience but still wish to trade them, you can make use of eToro’s social trading features. For example, you can identify a particular crypto trader who you think is highly profitable and you wish to copy, and then copy all their trades. eToro’s copy trading tools, thus, enable novice traders to capitalise on the experience and expertise of advanced traders. In addition to this, eToro also curates and manages a CryptoPortfolio, wherein different cryptocurrencies are assigned weights. This functions as an index fund of sorts and allow investors to easily invest in a variety of cryptocurrencies to avoid downturns in any one currency. This portfolio is managed by the eToro investments team, so you do not have to worry about rebalancing the portfolio regularly. 

eToro fees

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

2. Binance – The Best Crypto Trading Platform for Regular Day Traders Binance-Logo

Binance is a platform that is among the most highly preferred platform for most cryptocurrency traders, and the main reason for this is the high degree of specialization that the platform boasts of. For example, since Binance only allows you to trade cryptocurrencies, there are a variety of technical tools and charting methods that are specific to cryptocurrencies.

This is the reason why Binance is more preferred by professional day traders because their tools take into account the different characteristics of cryptocurrencies. In addition to this, the platform also has one of the largest collections of cryptocurrencies of any other exchange. If there is any cryptocurrency that you wish to trade, no matter how obscure or recently launched it is, there is a very high chance you can get it on Binance. Binance Trading Platform

At the same time, the platform has one of the lowest trading fees of any cryptocurrency platform. While their deposit and withdrawal fees tend to be a bit higher than average, especially if you choose to use a debit/credit card, the advantages of the platform more than make up for it. Usually, the fee is 0.1%, and it is even lower if you have an allocation of the Binance Coin (BNB). Similar to eToro, you can trade cryptocurrencies for both fiat currencies as well as other cryptocurrencies. Lastly, Binance is known for being one of the most secure cryptocurrency platforms ever.   

Cryptoassets are speculative and carry high volatility levels. Always consider the risks involved. 

3. Huobi – Excellent Trading Platform to Buy Crypto in the UK

Founded in Singapore, Huobi is the largest cryptocurrency exchange and online financial service provider globally. In addition to offering a wide variety of crypto assets, Huobi offers users the opportunity to participate in initial coin offerings ahead of the mainstream launch of those coins. Huobi, one of the largest cryptocurrency exchanges globally, was founded in Beijing, China. As a result of the government’s expulsion from the Chinese market in 2017, cryptocurrency exchanges grew rapidly.

Singapore’s crypto law regulations led to the relocation. Huobi supports over 355 types of cryptocurrency, making it the largest exchange globally. The platform is used by more than five million people worldwide, representing 130 countries. Huobi ranks third among top cryptocurrency exchanges based on daily volume derived from Coinmarketcap. Coinbase and Bithumb are also on the list.

The reason Huobi is so popular is that it is so accessible. New and experienced traders alike can access it signifies that it has proven to be quite convenient for both groups to use.

In less than two minutes, you will create your account. As you shouldn’t have any difficulty taking advantage of this opportunity, do not hesitate to do so.

Since Huobi launched its wallet last year, there has not been a security breach. It was only possible due to several strict security protocols to achieve such an enviable record. Considering that Huobi’s crypto funds are held in a cold storage room off-chain, which makes it impossible for them to be hacked by bad actors, Huobi’s security framework ensures that bad actors cannot access Huobi’s funds.

Your Money Is At Risk.

4. Coinbase – The Best Crypto Trading Platform for Beginners

Over 100 best cheap crypto to buy now such as Bitcoin, Ethereum and Cardano are offered through Coinbase, a cryptocurrency trading, and investing platform. Coinbase, just like Binance, is a specialized cryptocurrency exchange that has over 73 million users. It also boasts of a very high level of liquidity as it manages over $255 billion of assets through the platform. It has a very wide variety of coins that are available to trade through the platform, and the mere listing of a coin on Coinbase can usually send the prices soaring due to higher liquidity levels. 

best crypto to buy now

There are two ways in which you can trade through Coinbase. If you are a beginner trader and do not make use of technical analysis for your trading, then you should use the basic Coinbase platform to trade. On the other hand, if you wish to have access to advanced order types and technical charting tools, then you can also make use of the Coinbase Pro platform. Coinbase, by making cryptocurrency trading affordable and accessible to retail investors all over the world, has unleashed unprecedented levels of liquidity in the crypto market. Despite the volatility and risks associated with crypto investing, if you wish to buy and sell cryptocurrencies in the UK, Coinbase is an excellent option for both beginners and veterans.

Your money is at risk.

5. Kraken – One of The Largest Cryptocurrency Exchanges to Trade in the UK

Kraken is famous because it is one of the first cryptocurrency exchanges that were established worldwide. The exchange has been around for around 10 years, and there are several crypto investors who have been with the platform since it was launched.

The platform has north of 4 million users in a variety of countries worldwide including the UK. The platform also boasts a wide variety of cryptocurrencies, with over 66 pairs available to trade through the platform. Through Kraken, you can also stake the cryptocurrencies that you own in order to earn interest in them. Businesses affiliated with Kraken are regulated by a variety of agencies such as FinCEN, FCA, and the FSA. This makes Kraken a semi-secure platform for you to invest your money in, which is an attractive factor for many traders. Kraken Trading Platform

Due to the longevity of the platform, the safety and security features that Kraken has are state-of-the-art, ensuring that all your trades are secure and safe. In addition to this, the platform also allows you to trade on Futures contracts, which is a very unique characteristic of a cryptocurrency platform in the UK. Kraken also allows users to trade with higher leverage than most other platforms, making it the platform of choice for most high-risk traders. For example, if you are located in the UK, you can trade with leverages as high as 10x.  

Your money is at risk.

What is a Crypto?

As defined by Investopedia, “A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.” Cryptos are primarily classified into two main types: Bitcoin the best crypto coin to buy now, and altcoins. Each of these has been explained below in detail. 

Bitcoin

Bitcoin (BTC) is a highly speculative asset that is the leading cryptocurrency in the world. It is important for you to completely understand what Bitcoin is and how it works before you begin investing in it. It was launched as a digital currency in 2009 by an unknown developer known as Satoshi Nakamoto, who is also credited with creating the technology that has resulted in the popularity and scalability of Bitcoins. The concept of Bitcoin rests on the fact that it is not owned by any single person, organization, or central bank. Instead, it is a decentralized currency, and as such is free from manipulation

This means that unlike traditional fiat currencies – like the British pound or US dollar – Bitcoin cannot be manipulated or printed. Instead, a new Bitcoin is created by code every 10 minutes. This will incur continuously until the digital currency reaches 25 million Bitcoin – which is expected to happen in 2140. 

Altcoins

In the cryptocurrency world, any coin that is not Bitcoin (BTC) is called an altcoin. They are similar to Bitcoin in a few ways but usually differentiate themselves from BTC in one or more ways. For example, some altcoins use a different consensus mechanism to produce blocks. Some other altcoins provide additional capabilities that Bitcoin does not offer, such as lower price volatilities and smart contracts. At present, there are over 10,000 altcoins in the market that are being traded on a variety of wallets and platforms

According to CoinMarketCap, over 60% of the total cryptocurrency volume being traded in November 2021 was altcoins trading. A lot of altcoins are derived from Bitcoin, hence their price trajectory tends to mimic the trajectory of Bitcoin prices. However, as cryptocurrency markets evolve and newer ecosystems are created in markets, the degree of correlation between the prices of Bitcoin and other altcoins will gradually reduce.

There are several different types of altcoins that you can find and trade on cryptocurrency markets, and these have been explained and discussed below in detail. 

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Mining-based altcoins

There are two main ways in which an altcoin can come into existence: it can either do so through mining or through an ICO. Mining-based altcoins are mined via computer systems around the world through the concept of PoW or Proof of Work. in this case, computer systems generate new coins by solving complex problems to create blocks. As the number of altcoins in circulation increases, gradually the rate of mining slows down to avoid glutting the market with these altcoins. Examples of such coins include Litecoin, Monero, and ZCash.

The other way in which an altcoin can come into existence is via an ICO. in this case, pre-mined coins are released and sold to investors in much the same way as an IPO for stocks. These coins are not produced through an algorithm but are distributed in the markets. An example of such an altcoin is Ripple’s XRP.

Stablecoins

The cryptocurrency markets are usually known for the high degree of volatility that plagues them. Stablecoins are the solution to this. They reduce the overall volatility of the coins by pegging themselves to a particular asset that has an intrinsic value. This could include precious metals, fiat currencies, or even other cryptocurrencies. Stablecoins are pegged to a basket of goods that are meant to act as a reserve that can be used to redeem holders in case the cryptocurrency fails. There is usually a very small degree of volatility that can be observed in stablecoins, and their prices cannot exceed a certain range

There is a variety of best cheap crypto to buy now that are used by cryptocurrency traders. This includes Tether’s USDT and the USD Coin (USDC), both of which, as the name suggests, are pegged against the US$. there has been a greater acceptance for stablecoins recently, especially since Visa announced that it would begin settling some of its transactions using USDC. 

Security tokens

Security tokens are among the easiest form of altcoins to understand because they are quite similar to stocks except for the fact that they have a digital provenance. They resemble transitional stocks and promise equity in the form of either ownership of a part of the venture, or regular dividend payments. The possibility of the value of these tokens increasing exponentially over a small period of time is part of the reason why such security tokens are heavily sought by traders. 

Meme coins

As the name suggests, meme coins are created as a joke or a silly take on other cryptocurrencies or a particular world event and today are considered as the best small crypto to buy. They typically gain popularity over a short period of time owing to high amounts of volatility and a general speculative nature regarding the meme coin. Prominent and famous examples of meme coins include DOGE and SHIB coins, both of which have seen huge gains in the past on the backs of heavy speculation

Often, these meme coins are hyped by prominent crypto influencers and retail investors who are looking to make huge short-term gains on the back of speculation. There is very little fundamental value associated with these coins, and in the long run, their high prices are usually not justified. There are highly volatile and unpredictable but represent an opportunity to make high gains in a very short span of time. It is recommended to be extremely careful whenever investing in meme coins

Why Invest in a Cryptocurrency?

There are several reasons why an individual might go for the best cheap crypto to buy right now, and these have been detailed below. 

High Growth Potential

As we noted above, the vast bulk of people searches for the best crypto to buy today in the UK as an investment. Make no mistake about it – it is a high-risk investment at that, not least because the price of cryptocurrencies is super-volatile. For example, if you had invested just £100 in Bitcoin back in 2009, your investment would now be worth over £400 million! More recently, had you bought Bitcoin in March 2020 – you would have paid around $5,000. Just a year later, Bitcoin’s price had increased by a factor of 10! By comparison, the FTSE 100 is worth less now than it was 5 years ago. This potential for huge quick gains has made cryptocurrencies a very attractive asset for speculators. The growth of cryptocurrencies far outpaces almost every other traditional asset class, like stocks, bonds, and even real estate. So, if you’re looking to get an ultra-high return on your investment, crypto is one of the best assets to consider.

Finite Production

An additional factor that many newbie investors in the UK are unaware of is that most cryptos like Bitcoin are a finite asset class like gold. This is because there will only ever be 21 million Bitcoin in circulation, and something very similar applies to other best crypto to buy now. In theory, this means that over the course of time, the value of cryptocurrencies should continue to rise indefinitely. For example, when you invest in stocks, the respective company has the ability to issue new shares. When it does, this dilutes your investment, as there are more shareholders in circulation. Once again, this isn’t possible with Bitcoin and its underlying blockchain technology.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Fractional Ownership

In addition to this, as cryptos are a digital currency, they can easily be ‘fractionalized’. This means that you can buy a fraction of 1 Bitcoin. In fact, Bitcoin, the best crypto coin to buy now can be broken down to 0.00000001 – meaning a $50,000 coin turns into just a few cents. However, the minimum amount of Bitcoin that you can buy in the UK will be dependent on your choice of brokerage site. FCA-regulated eToro, for example, allows you to invest just $25. This is crucial, as cryptocurrencies are speculative and volatile – so you’ll likely want to start off with smaller amounts before you understand how things work.

Buying Cryptos Safely

As far as investing in cryptocurrencies is concerned, there are no guarantees. The demand for cryptocurrencies can expand enormously if they launch smoothly and become popular, and this is quite likely to happen especially because of all the new and unique concepts that cryptocurrencies experience every day. Blockchain technology is expanding every day and it is very difficult to be able to say when another cryptocurrency that is more energy-efficient and technologically advanced than the current cryptocurrencies will be launched, making them redundant and thereby dropping their prices.

Investing in anonymous projects like cryptocurrencies also presents distinct security risks since a critical flaw in the code may allow the developers to steal cryptocurrency from investors by scamming them. Unfortunately, in the wild west that is DeFi, some scams are causing users to lose millions of dollars with increasing frequency. If experienced code auditors had access to the code, this possibility could be ruled out, but most cryptocurrencies haven’t yet been audited so that they couldn’t do this.

Risks of Buying Cryptos

As such, the best cheap crypto to buy today has a strong community function as opposed to their utility. Because of this, the success and growth of the community are pivotal in determining how successful they are, explains Boneparth, who has been investing in the best crypto coin to buy now, since 2014. However, there is still an inherently high degree of risk associated with investing in cryptocurrencies, as experts warn that there is a higher chance that you will lose your money. Authorities generally recommend that you should only invest what you can afford to lose regardless of which cryptocurrency you choose

It is important to remember that altcoins may require a greater level of caution because they differ from something like bitcoin in several aspects, including their structure, supply, and usage. Bitcoin, the best crypto coin to buy now was created in 2009 to serve as a peer-to-peer electronic cash system. In addition to its blockchain, the company has carefully designed an ecosystem to support the blockchain. Using the fact that Bitcoins are a limited supply allows for a certain amount of built-in scarcity through the design. The fact that it can be used for this purpose makes it such a valuable investment for its holders, with the hope that it will be recognized as a prominent decentralized digital currency. Most altcoins lack these features, which means that they have a lower degree of compatibility with most infrastructure that has been designed for the Bitcoin blockchain

While this is true, Brett Harrison, president of cryptocurrency exchange FTX US, warns that “cryptocurrencies can be extremely risky, and may not always have inherent value as investments, and that individual retail investor should always conduct research and diligence before trading these assets.” Harrison looks for assets that offer specific utility rather than investing in the best crypto to buy right now based on hype to make money from crypto-assets.

Crypto assets are a growing area of interest for investors. They provide a store of value, facilitate an efficient mechanism for the transfer of funds, or serve as an algorithm that enables the construction of blockchain-based applications, writes Marcus. He says many assets can be suitable for retail users. However, a degree of caution should always be exercised whenever you decide to invest in cryptocurrencies.  

Selling Cryptos

Depending on what platform you are trading through, the process of selling cryptocurrencies will be very straightforward. For example, you can simply head over to your portfolio on eToro and click on sell. After selecting the amount and the type of order you wish to place, then the next step for you is to simply click on place order and this will result in your cryptocurrencies being converted into the fiat currency that you use to operate your platform. On the other hand, if you are using a sole cryptocurrency exchange, then you will have other options too. For example, you might wish to convert your cryptocurrencies into other best crypto to buy now such as Bitcoin, Etheruem, or Binance Coin, alongside a variety of fiat currencies. Once you have done this, these cryptocurrencies will then be stored in your wallet on the platform. 

eToro Tutorial.

In order to assist you with trading cryptocurrencies, here is a list of steps that you need to follow in order to begin trading some of the best new crypto to buy on eToro. The process of opening an account and trading on eToro is quite straightforward and involves 4 main steps. 

Step 1: Open an Account

eToro Sign Up

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

The first thing that you need to do is to navigate to the eToro homepage and click on “Join Today”. Then, you will be asked to fill a short form that asks for your contact details and makes you set up your login credentials. Alternatively, you can also sign up via your Facebook or Google account for easier sign-ins and to avoid having to remember your username and password. 

Step 2: Upload ID

eToro Identity Verification

The next step is for you to verify your identity by uploading a copy of your ID. Since eToro is a regulated platform, they have to complete the KYC (Know Your Customer) process before they allow you to trade. This verification process has two parts to it. The first part involves verifying your identity. For this, you can upload a copy of any government-issued ID, such as a passport, driving license, or visa. The next part is an address proof, for which you can either upload a bank statement or utility bill. 

Once you have uploaded the documents, eToro has a quick response time, and will usually verify your account in a few hours. 

Step 3: Deposit Funds

eToro Deposit Funds

The third step is to then deposit funds into your account. The minimum deposit on eToro is 200 GBP. This can be done in a variety of ways. For starters, you can add money to your eToro account via bank transfer or via credit/debit cards. They also accept a variety of e-wallets such as PayPal and Skrill. You can add funds in different currencies too, such as USD, GBP, and EUR. There are no fees or charges associated with depositing funds into your account, and they show up almost immediately. 

Step 4: Buy Cryptos

The last step is then to begin trading the best new crypto to buy. Simply head over to the search bar, search for the coin you wish to trade, enter the amount you wish to buy or sell, and click on the order button. 

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

FAQs

Who created the first cryptocurrency?

Satoshi Nakamoto is the name used by the presumed pseudonymous person who developed Bitcoin, the first cryptocurrency.

What is the total crypto market cap?

At the time of writing this article, the market cap of crypto is $2,138 billion.

Do I need a crypto wallet to buy cryptos?

No, you do not need a crypto wallet if you choose to buy cryptocurrencies through CFD platforms such as eToro. However, buying actual cryptocurrencies through a wallet means that you will be able to transfer cryptocurrencies between platforms.

Can I buy cryptos in the UK?

Yes, you can buy cryptocurrencies in the UK through any established cryptocurrency trading platforms such as eToro, Binance, or Coinbase.

How much money do I need to buy a Bitcoin?

The amount of money you need to need to buy Bitcoins will depend on the minimum balance requirements associated with your platform, however, in general, it can be as low as $25.

About Nishit Kumar
About Nishit Kumar

I'm a second year Accounting and Finance student at the University of Warwick, in addition to being an incoming Trading Analyst at Morgan Stanley. I'm passionate about the financial markets and all things finance.