Bitcoin buying and selling in the UK has always been something of a paradox. For a major world economy forming such a large potential market, bitcoin purchasing remains more expensive than in neighbouring Europe.
The UK government has cited its desire to aid Bitcoin’s cause over the past year, but as yet, no tangible changes have been seen, and banks continue to be reluctant to partner with domestic Bitcoin operators.
CoinTelegraph took a look at the best options available for UK consumers in 2015.
The most common way mainstream consumers purchase bitcoin is through an exchange. However, what can prove a cost-effective option in the US, Europe and elsewhere still does not quite hold true for the UK.
Domestic exchanges (such as they are) frequently offer slow service with high fees. A guideline amount is that charged by Coinfloor – £5 to deposit BTC and £10 per withdrawal – far higher than a EUR deposit on another major exchange, for example.
Those exchanges situated offshore, and which have a GBP option, are forced to exact further fees from customers to cover UK banks’ charges for SEPA transfers to EUR.
Things are slowly improving. US