Cryptocurrency trading popularity is growing exponentially. Many traders are looking for ways to invest their money into this market and hopefully succeed. Bitcoin is one of the cryptocurrencies that continues to benefit traders, and many believe that it is the future of money.
To get started in Bitcoin trading, you must learn how it works. Also, use a Bitcoin broker that matches your trading requirements to maximise your chances of success. Most importantly, ensure you have the best Bitcoin wallet to safely store your assets. So, are you looking for the best way to kickstart your Bitcoin trading venture? Below, we guide you on how to open a Bitcoin account and enjoy its benefits. We also recommend the top Bitcoin accounts to consider this year.
In this guide
What is a Bitcoin Account?
Bitcoin is a digital currency operating on a decentralised network, meaning that you can trade or invest in it through a Bitcoin broker or a cryptocurrency exchange. If you do not trust intermediaries to store your Bitcoins, consider withdrawing them to a private wallet. However, keep in mind that some Bitcoin wallets are not highly encrypted, and you may end up losing your assets if you are not keen on your choices.
To ensure you secure your Bitcoins, trade with brokers regulated by the best authorities. For instance, UK Bitcoin traders and investors should consider brokers monitored by the Financial Conduct Authority (FCA). These brokers are safe, and you can store your Bitcoin in their wallets without worrying about their safety. Simply put, a Bitcoin account is a digital wallet you use to store your Bitcoins and access them when necessary.
Top Three Best Bitcoin Accounts in the UK
Although there is plenty of private Bitcoin accounts for storing your Bitcoins, the easiest way to open a Bitcoin account is through brokers regulated by the FCA. Using brokers is easy since the procedure is pretty straightforward, and you do not need to conduct additional research to choose the best Bitcoin wallet. That being said, here are the top three to open a Bitcoin account with.
1. eToro
eToro makes it easier for you to send, receive, and transfer your Bitcoin by hosting a digital wallet compatible with mobile and desktop devices. With eToro, you can change cryptos to cryptos* without the need to transfer your assets to a different wallet. Most importantly, this broker’s Bitcoin account is backed up by an unlosable private key to secure your wallet. Your Bitcoin address is also kept private so that you can focus more on strategy rather than your Bitcoin’s safety.
Besides the Bitcoin account, eToro also hosts plenty of cryptocurrencies you can add to your trading portfolio. Plus, it hosts the best social and copy trading platforms, where you can connect with other Bitcoin traders and improve your skills. However, to access eToro’s cryptocurrencies, a minimum deposit of $100 is required.
*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
✔Low minimum to fund an account and begin investing
2. Coinbase
Coinbase is one of the pioneer cryptocurrency exchanges globally. It hosts a digital wallet for storing Bitcoins. You can also convert Bitcoins into fiat currencies using Coinbase and change the asset to another cryptocurrency. Its wallet is user-friendly and highly secured with private keys to give you maximum trading experience. Most importantly, the exchange is beginner-friendly, and you get access to a wide collection of cryptocurrencies to add to your trading portfolio.
Coinbase vs. Binance Crypto Exchange Comparison: Which to Choose? – read this other guide for more detailed information.
✔Inbuilt cryptocurrency wallet
3. Crypto.com
Crypto.com is another leading cryptocurrency exchange in the UK that allows you to buy and store Bitcoin in its crypto wallet. It lists hundreds of cryptos, which you can buy, sell, or trade. Additionally, you can convert your Bitcoin into any supported fiat currencies and transfer them to your bank account. Like eToro and Coinbase, Crypto.com gives you full control of your Bitcoins using private keys. Plus, opening a Bitcoin account is pretty straightforward, and it will only take a few minutes to complete the setup.
✔Earn daily rewards on your balance, no lock-up period
Read about Best Bitcoin Trading Platforms in the UK 2025 in our other article.
How to Create a Bitcoin Wallet*
Creating a Bitcoin wallet in the UK is easy if you understand the procedure. If you are a beginner, we take you through the process using eToro as an example.
There are different types of Bitcoin wallets you can download, but the most popular ones are desktop and mobile wallets. For instance, eToro has one of the best cryptocurrency wallets to store Bitcoin and other cryptos. So, whether you are trading on a mobile or desktop device, ensure you install the app and begin the registration process.
Creating a Bitcoin address helps you to easily receive Bitcoins. With eToro, you can create multiple Bitcoin addresses depending on who you are trading with and the types of cryptocurrencies. However, always secure your Bitcoin Address to avoid the risks of getting hacked. You can do so by applying two-factor authentication.
You need a private key for your Bitcoin address to transact securely and prove that you own the Bitcoins traded. Since you will require this key to spend your Bitcoin, it is crucial that you keep it safe and confidential.
Once you are done with the above procedures and are sure that your Bitcoin account is secure, you will proceed to fund it. For instance, the eToro Bitcoin wallet can be funded using various payment methods, including debit cards, wire transfers, and e-wallets.
After depositing your funds in the wallet, you can now start trading. This means buying and selling your Bitcoins. As mentioned earlier, you need the best broker to allow you to trade while storing your Bitcoins in your already established wallet. Also, brokers allow you to sell your Bitcoin for fiat currencies, which you can use to purchase more assets or withdraw to your bank account.
*Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
Read about How to Buy Bitcoin With PayPal or How to Invest in Bitcoin in the UK in our other guides.
Tips on Choosing the Best Brokers For Opening a Bitcoin Account
When engaging with cryptocurrencies, it’s crucial to recognise that these digital assets are characterised by their extreme volatility and speculative nature. This can result in swift and substantial price fluctuations. To safeguard your crypto holdings, it is imperative to utilise reputable wallets and exchanges, prioritising the security of your investments.
Also, exercise vigilance and due diligence to guard against crypto-related scams and fraudulent schemes that can potentially threaten your financial well-being. You can also spread your investments across multiple digital tokens and avoid making decisions based on emotions.
Since setting up a Bitcoin account with brokers is easy, you need to find the best broker to simplify your experience. Below are the tips for choosing the best broker so that you can wholly focus on strategy and maximise your potential for profits.
Security
Find a broker or exchange that adheres to the stringent regulations of the Financial Conduct Authority (FCA). Remember, not all brokers are legitimate, and you do not want to risk your money and Bitcoins with unregulated ones. Plus, FCA-regulated brokers allow you to explore additional securities under the best conditions.
Fees/Charges
To enjoy your Bitcoin trading experience, choose a broker you can afford. Some brokers will market themselves as having the industry’s lowest charges, but there are hidden costs you will incur. Therefore, visit a broker’s website and review all its charges, including those attached to the Bitcoin account. If the charges do not suit your budget, consider looking for other options.
Asset Availability
Confirm whether a broker hosting a Bitcoin account lists Bitcoin and the available methods to explore the asset. You can also check whether you will transact with Bitcoin and fiat currencies. Most importantly, portfolio diversification minimises the risks of losing money. Therefore, settle with a broker hosting additional assets you are familiar with.
Availability of Crypto Wallet
Most traders overlook this element and end up trading derivatives rather than buying and selling their preferred assets. By confirming the availability of a crypto wallet UK, you are guaranteed that your Bitcoins will be secure once purchased. Also, ensure the wallet is highly secured and that you are in control of your assets.
Platform
The best bitcoin broker should have a user-friendly platform perfect for newbies and expert traders. You should be able to access each feature and have it execute trades fast, so you never miss out on a potentially profitable opportunity. Most importantly, a broker’s platform should have a reliable support service and a demo account to test it with without risking your hard-earned money.
You can read our list of the best cryptocurrency brokers in the UK in our other article.
FAQs
Setting up a Bitcoin account is easy through a regulated broker or exchange. You will share your details as requested, which, when done effectively, can take less than 5 minutes.
Creating a Bitcoin account is free, and all you have to do is download the wallet and sign up for an account. However, using it to trade may attract a fee depending on your broker. Therefore, ensure you create a Bitcoin account with a broker you can afford.
No. Storing your Bitcoins in a digital wallet is free. However, if you want to transfer the asset or complete a transaction, the broker hosting the wallet may charge you for the services.
No. Trading Bitcoin, especially as CFDs don’t require you to own a Bitcoin account. This is because CFD trading involves speculating an asset’s price movements without assuming ownership. However, we advise you to choose brokers with Bitcoin wallets and create one. This is so that you will not have to change a broker in case you want to buy Bitcoin.
The UK market hosts plenty of Bitcoin wallets, but the best ones are hosted by brokers or exchanges overseen by the Financial Conduct Authority. We recommend the best Bitcoin wallets in the UK above, so choose the one suitable for you.
Yes. Bitcoin wallets have limits based on transaction sizes and the assets you use. Therefore, confirm with your broker the available limits to effectively utilise Bitcoin wallets.
Conclusion
You now know that Bitcoin operates on a decentralised network, and there are no third parties to facilitate Bitcoin accounts for traders. This means taking responsibility for your Bitcoin and ensuring the wallets you store them in are secured. Alternatively, you can trade Bitcoin on brokers regulated by the Financial Conduct Authority since they are safe and offer a wide range of cryptocurrencies to explore. Some of these brokers, like eToro, have their own wallets you can use to securely store your Bitcoins.
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25,000 hours of testing 70+ brokers. Our recommended broker is Pepperstone.
Our recommended broker is Pepperstone.