Best ways to buy BTC in UK GBP

[WillEndure]

I put spare cash in my business LTD company into bitcoin. I do this currently by depositing GBP from Barclays to Bitstamp. Setting up the corporate account on Bitstamp was a hassle, so I would like to keep using it rather than have to go through the process with some other exchange. Corporate account makes it all legit, I'm not trying to hide anything from the tax man, if I make a capital gain and there are taxes to pay, there are taxes to pay and my business is audited once a year and has nothing to hide.

But any method really, its company many going into BTC and as long as the GBP ends up in my BTC wallet somehow, I am happy.

The problem I have is that every time I put funds in Bitstamp from Barclays, Barlcays fraud people block the payment and then I have to go some ridiculous 20 questions about what I am doing, even though I have had to do this quite a few times they still want to treat you like you are a child and make ridiculous condescending points. I think they just don't want GBP moving into crypto ultimately. One day they will block it altogether, I know it is coming. When the UK is so deep in the rough that we get capital controls.

Anyway, you get the idea. Whats the best way to get GBP into BTC?

[Apocollapse]

Since the problem is your banks, I don't think you can do much.

Maybe using Revolut? AFAIK they have banking services and they also offer you to buy Bitcoin by using third party, it's all in one apps. If they're close with Bitcoin, they should be friendly with Bitcoin, no?

[Ruttoshi]

Your bank is been strict on crypto purchase which is why they always ask you so many questions whenever you are buying bitcoin from your Barclay's account. Is this the only bank that you are banking with. Why not try a different bank if you are banking with two different banks.

I don't think that the exchange has any problem. Assuming, Bitstamp does direct p2p, it would have been cool for you to buy directly from the p2p trader and transfer it to your self custody wallet. I hope that you are not keeping your bitcoin in your Bitstamp account. Not your keys..Not your coins.

[Trêvoid]

consider opening a business account with a more crypto-friendly bank like Revolut or Monzo.

[SatoPrincess]

I used to think Barclays is a crypto-friendly bank, I guess not. I suggest you opt for online banks like Monzo. They are more crypto-friendly than traditional banks. Just make sure you are using the account for other activities not just for purchasing crypto so they don’t close the account. No bank wants a customer that doesn’t want to save money with them.

[WillEndure]

Thanks for the suggestions, sounds like Revolut or Monzo are worth trying. Then I can do Barclays GBP -> Monzo GBP -> Bitsamp GBP -> BTC

I buy BTC on Bitstamp, and then transfer it to a self custody wallet. Yes, I know, that I don't really own it without self custodying it. Occasionally a small amount might sit on Bitstamp but I would not leave a large amount there or any amount for long.

[melinoe]

Can I ask you, why don't you just get BTC from the exchange / exchanges and get it directly to your custody afterward?

[Aanuoluwatofunmi]

Anyway, you get the idea. Whats the best way to get GBP into BTC?

If i noticed there is much complications from the regulating authorities in my country concerning the use of p2p on exchanges, then i try to avoid this and directly use online banking systems that are quick in service and treated crypto and fiat on their gateway system easily, if i still want to use my fiat to acquire BTC in a more private way, then i go through the escrows and physical p2p exchangers to do that for me without any stress, we have a number of them on this forum who can perform such trade for you.

[suzanne5223]

Thanks for the suggestions, sounds like Revolut or Monzo are worth trying. Then I can do Barclays GBP -> Monzo GBP -> Bitsamp GBP -> BTC

I buy BTC on Bitstamp, and then transfer it to a self custody wallet. Yes, I know, that I don't really own it without self custodying it. Occasionally a small amount might sit on Bitstamp but I would not leave a large amount there or any amount for long.

I don't know about Monzo, but from my understanding, Revolut is nice; you can buy BTC on their platform.

Can I ask you, why don't you just get BTC from the exchange / exchanges and get it directly to your custody afterward?

Do you read what the OP page stated at all?
The OP is experiencing issues with his/her bank whenever s/he buy Bitcoin on the exchange in the subject and send payment using Barclays.
The use p2p on the exchange would have been advised, but the exchange didn't support p2p trading the last time I checked. So, the use of multinational payment, and banking services like Revolut is the best option.

[BitGoba]

If you're looking for a reliable and efficient Bitcoin exchange in the UK, I recommend Strike. The platform is transparent, offers highly competitive rates, and has no hidden fees. It also features a user-friendly interface, with fast and secure transactions. In my opinion, it's currently one of the best options on the market.Strike is definitely among the best Bitcoin exchange services globally.
You can also check out CoinCorner, one of the prominent Bitcoin exchanges in the UK, but I think Strike has better fees.In the end, you can also use decentralized P2P Bitcoin exchanges like Robostas, Bisq, HodlHodl, or Pech Bitcoin. However, keep in mind that their fees are usually significantly higher.

[l3pox]

Anyway, you get the idea. Whats the best way to get GBP into BTC?

If i noticed there is much complications from the regulating authorities in my country concerning the use of p2p on exchanges, then i try to avoid this and directly use online banking systems that are quick in service and treated crypto and fiat on their gateway system easily, if i still want to use my fiat to acquire BTC in a more private way, then i go through the escrows and physical p2p exchangers to do that for me without any stress, we have a number of them on this forum who can perform such trade for you.

any idea on what are the ways their surveillance works regarding p2p?
because many times you could use it specially for smaller values, something like a direct p2p or bisq

do you have btc atms in the uk too?

it's crazy that the governments are so afraid of losing power that they'll push new tech for the illegal side or try to tax it do death

[dkbit98]

Anyway, you get the idea. Whats the best way to get GBP into BTC?

I would try to find local bitcoin community in your area and trade Bitcoin for cash, but be careful when trading face to face.
There are also several decentralized and p2p exchanges like Bisq or PeachBitcoin and Vexl app, and you can use that without any kyc.
I am not using Revolut myself but I know people around world say that it works great with crypto.

[sos1311]

Revolut, iFast GB

[aoluain]

Since the problem is your banks, I don't think you can do much.

Maybe using Revolut? AFAIK they have banking services and they also offer you to buy Bitcoin by using third party, it's all in one apps. If they're close with Bitcoin, they should be friendly with Bitcoin, no?

Yes Revolut, N26 or other fintech accounts in combination with the likes of
HodlHodl will enable you to get FIAT into BTC without too much fuss. While
HodlHodl is a P2P platform with no need for personal info other than an email
address the likes of Revolut and others will want your personal details.

[Fivestar4everMVP]

Anyway, you get the idea. Whats the best way to get GBP into BTC?

I do not live in Europe but in Africa, in Nigeria to be precise, and I have no idea how best to get GBP into bitcoin aside going through the exchange route.

Here in Nigeria, citizens are banned or were banned from trading bitcoin and crypto currencies in general as the government didn't want the Nigerian naira following into crypto, since they believe that this would crumble the value of the Nigerian naira, but still, alot of people here in Nigeria still were actively trading and converting naira to bitcoin and some other top crypto currencies.

If you ask me, I did tell you the best way is not make use of the p2p trading option on an exchange, this is exactly how we Nigerians have been able to keep converting the naira to bitcoin even while the ban was still in effect.

[Potato Chips]

I remember recap.io did a write up on crypto tolerance in banks available in UK. Guess what, barclays was dead last lol. Although this was on 2023, perhaps it might still be a good read for you, see: https://recap.io/en-US/reports/revealed-the-most-crypto-friendly-uk-banks

Maybe ask in r/BitcoinUK as well for personal experiences.

Thanks for the suggestions, sounds like Revolut or Monzo are worth trying. Then I can do Barclays GBP -> Monzo GBP -> Bitsamp GBP -> BTC

I buy BTC on Bitstamp, and then transfer it to a self custody wallet. Yes, I know, that I don't really own it without self custodying it. Occasionally a small amount might sit on Bitstamp but I would not leave a large amount there or any amount for long.

Yeah maybe. In the writeup as well, both placed first and second.