Bitpanda UK (2024)

FAQs

Is Bitpanda available in the UK? ›

The Property (Digital Assets etc) Bill, introduced in Parliament today, will mean that for the first time in British history, digital holdings including cryptocurrency, non-fungible tokens such as digital art, and carbon credits can be considered as personal property under the law.

Cryptocurrencies are not regulated in the UK. However, some crypto exchanges, such as eToro, CoinJar, and Uphold, are registered with the Financial Conduct Authority (FCA). The FCA's position on cryptocurrency is that “Cryptoassets are considered very high-risk, speculative investments.

Monzo. Yes, you can use Monzo for crypto. Monzo describes itself as a crypto-friendly bank, allowing crypto transactions to and from most crypto exchanges. Like every regulated bank, it sometimes blocks a small number of transactions based on risk.

If you can't trade cryptocurrencies, it could be due to the FCA ban for IG UK retail traders. If you're not a UK retail trader but still can't trade cryptocurrencies, it could be because the market has been set to 'unlongable'.

Bitstamp – Best Regulated Exchange

Bitstamp is one of the oldest cryptocurrency exchanges in the world, having launched in 2011. The platform holds an FCA license, making it an ideal option for users in the UK.

When it comes to buying crypto like Bitcoin, there are a lot of factors that come into play, such as location and protocol. 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.

It won't be a surprise to learn that there are quite a few UK banks that aren't crypto-friendly. By this we mean they don't allow their customers to directly transfer funds to a cryptocurrency exchange or allow debit cards to be used for the purchase of cryptocurrency. Based on our research, these banks are: Chase.

Can I buy crypto with a credit card in the UK? ›

You can make a purchase with a credit or debit card if your card supports "3D Secure" (3DS). With this payment method, you will not have to pre-fund your account to place an order. You can purchase instantly without waiting for a bank transfer to complete.

Firms operating crypto ATMs must be registered with the FCA under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLR”). The FCA emphasises that there are currently no legal crypto ATM operators in the UK.

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

In Binance, you can short Bitcoin and other cryptocurrencies with Margin. (Shorting itself is incredibly risky. You can choose to use margin which is even riskier. Please understand the risks involved with leverage before you use it.)