A cryptocurrency exchange is a place, usually online, where buyers and sellers of cryptocurrencies like Bitcoin can interact to exchange them for Pounds, Dollars or other currencies. For example, a bitcoin exchange is one type of cryptocurrency exchange for the purchase and sale of BTC.

Buying Bitcoins with Debit Card or Bank Transfer

It is possible to buy Bitcoin with bank transfer at a few different verified exchanges in the UK. The different exchanges are listed below along with the buying procedure that you must follow:

1. CEX.io

At CEX.IO, you can use any card issues in any currency, including GBP. The system will automatically convert your currency into the one supported by the platform. CEX charges a trading fee of 1.6% and the payment methods accepted at CEX.io are Visa, MasterCard, PayPal Debit MasterCard and bank transfer. To buy Bitcoin on the platform you have to follow these steps:

1. Choose a package or enter the specific amount of Bitcoins you want to buy.
2. Sign up to the platform.
3. Add any card to your account.
4. To buy Bitcoins you can use your verified cards or do a bank transfer, although bank transfer might take a little longer than using the credit or debit card option.