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Buy crypto
Buy BTC, ETH and other crypto with GBP
Buy BTC, ETH and other crypto with GBP
with
Price Alerts
Be notified on BTC, ETH, XRP prices, and more.
Recurring Buy
Build your portfolio automatically with daily, weekly, or monthly trades.
On-chain Staking
Generate passive income by helping
to secure blockchains.
Join our 80M+ users
Get started today
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No annual fees. Top-up with fiat or crypto.
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Frequently Asked Questions
Many cryptocurrencies, like Bitcoin, are created through a process called mining, which involves solving complex mathematical equations to validate and record transactions on a blockchain. This mechanism is also called Proof of Work (PoW). Another consensus mechanism that has increased in popularity — as it is more energy efficient — is Proof of Stake (PoS). Instead of mining, PoS relies on network participants validating transactions. Ethereum, the second-largest cryptocurrency, uses this consensus mechanism.
Unlike traditional fiat currency, which is controlled by central banks and governments, Bitcoin operates independently of any central authority. Transactions are verified and recorded on the blockchain, which is a distributed ledger that maintains a permanent and transparent record of all transactions.
Bitcoin can be bought, sold, and exchanged on various cryptocurrency exchanges and used to purchase goods and services from merchants that accept Bitcoin as a form of payment. The supply of bitcoins is limited to 21 million units, and new bitcoins are created through mining, which involves using specialised computer hardware to solve complex mathematical equations.
Bitcoin is known for its high volatility, and its value can rapidly fluctuate in response to market conditions, news events, and other factors. Many traders, including institutional investors, see Bitcoin as a store of value and a way to participate in the growing cryptocurrency ecosystem.
- Brokerage services: Cryptocurrency brokers simplify the purchase and sale of cryptocurrencies. An example is the Crypto.com App, used by over 80 million users. It is available to download on the Apple App Store and Google Play Store.
- Cryptocurrency exchanges: These are online platforms where users can buy, sell, and trade cryptocurrencies using fiat currency or other cryptocurrencies. The Crypto.com Exchange is an example of a popular cryptocurrency exchange.
- Peer-to-peer (P2P) marketplaces: These are platforms where buyers and sellers can directly trade cryptocurrencies without the involvement of a third-party exchange. This is also known as DeFi, short for decentralized finance. Multiple P2P crypto marketplaces can be accessed all in one app via the Crypto.com DeFi Wallet.
- Choose a crypto platform to use, like the Crypto.com Exchange or Crypto.com App.
- Create an account on the chosen platform by providing personal information and ID verification, also known as ‘Know Your Customer’ (KYC) procedures.
- Deposit supported fiat currency or another cryptocurrency into the newly created account. The Crypto.com App supports bank transfers, credit cards, debit cards, and cryptocurrency transfers to buy crypto, depending on region.
- Navigate to the ‘Buy’ section of the Crypto.com App and select the crypto to buy.
- Enter the amount of cryptocurrency to buy and confirm the transaction.
- Choose a cryptocurrency platform that supports Bitcoin trading, such as the Crypto.com App or Crypto.com Exchange.
- Create an account on the chosen platform and complete the KYC verification process, which may require providing personal identification documents.
- Fund an account using a bank transfer, credit/debit card, or other cryptocurrency, depending on region.
- Navigate to the ‘Buy’ section of the platform and select Bitcoin as the cryptocurrency to buy.
- Enter the amount of bitcoin to buy, or the amount of fiat or cryptocurrency to spend.
- Review the transaction details and confirm the purchase.
- Once the transaction is complete, the bitcoin will be deposited into the chosen account. From here, the bitcoins can be transferred to other crypto wallets or converted back to fiat currency and paid out to a bank account.
- Choose a cryptocurrency exchange that supports trading in your jurisdiction.
- Create an account on the chosen platform and perform ID verification, known as KYC.
- Deposit funds into the newly created account using a supported payment method. The Crypto.com Exchange supports bank transfers and credit/debit cards.
- Navigate to the trading section of the platform and select the cryptocurrency pair to trade.
- Choose whether to buy or sell the cryptocurrency, and enter the amount to trade.
- Set the preferred price and order type. There are several types of orders, including market orders, limit orders, stop orders, and crypto options, which allow users to buy or sell at a specific price or under certain conditions.
- Submit the trade order and wait for it to be executed. Depending on market conditions, the trade may be filled immediately, or it may take time to be filled.
- Monitor trades and adjust strategies as necessary.
- Mining: Cryptocurrency mining involves using specialized computer hardware to solve complex mathematical equations that validate transactions on a blockchain network. Successful miners are rewarded with newly minted cryptocurrency for their efforts.
- Staking/Lockups: Staking and lockups involve holding or locking up a certain amount of cryptocurrency in a wallet or on a platform to support the operations of the blockchain network. Stakers are rewarded with new cryptocurrency in return for securing proof-of-stake blockchain networks.
- Trading: Trading cryptocurrency involves buying and selling cryptocurrencies on exchanges or other trading platforms. Those who have a good understanding of market trends and are able to make informed trading decisions can earn profits through trading.
- Airdrops: Airdrops are free distributions of cryptocurrency to users who meet certain criteria or participate in promotional activities.
- Crypto Projects: Some blockchain projects offer rewards or bounties for users who contribute to their development or community. This can include activities like bug bounties, testing, or content creation.
- The Crypto.com App, Exchange, and DeFi Wallet offer different ways to earn cryptocurrency rewards.
- Create an account on the chosen platform and deposit cryptocurrency holdings into the rewards account.
- Depending on the platform, users may earn rewards by locking up their cryptocurrency for a period of time.
- Some products offer fixed reward rates (e.g., the Crypto.com Visa Card), while others may offer variable rates that depend on market conditions (e.g., the 'Earn' feature in the Crypto.com DeFi Wallet).
- Monitor rewards and adjust as necessary.
Have more questions? Contact Us
The value of cryptoassets can go down as well as up and returns may be subject to capital gains tax. Cryptoassets are not regulated in the United Kingdom (UK) by the UK Financial Conduct Authority (FCA) and users maintaining cryptoassets are not eligible for Financial Services Compensation Scheme (FSCS) protection or recourse from the Financial Ombudsman Service (FOS).
Foris DAX UK Limited, a company incorporated in the UK with company registration number 12843841 trading under the name “Crypto.com” via the Crypto.com App, is registered with the FCA under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 to provide cryptoasset services.
Any other products or services offered in the Crypto.com App and advertised on this website are provided by other group companies and are not provided by Foris DAX UK Limited.
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