How to buy Bitcoin in the UK with Archax

As the cryptocurrency market continues to grow, many investors are looking to buy Bitcoin, the oldest digital currency. If you're in the UK and wondering how to purchase Bitcoin efficiently, look no further than Archax – we’re a UK based and registered crypto exchange. In this guide, we'll walk you through how to buy Bitcoin in the UK using the Archax Exchange user-centric interface.

Step 1: Create your account

Before you can start trading, you'll need to create an account on the Archax Exchange. Sign up via the Archax website. Follow the prompts to enter your personal information and verify your identity. Before you can start trading, you’ll need to complete an Appropriateness Questionnaire to help us assess whether crypto trading is suitable for you. After that, you must complete a mandatory 24-hour cooling-off period. This process ensures that the platform remains compliant with UK regulations. For added security, Archax enables two factor authentication on your account. This adds an extra layer of protection by requiring a second form of verification.

Step 2: Deposit funds

Once your account is verified, you need to deposit funds. In the Archax interface, select the Custody tab and choose the currency you wish to deposit. For this example, we'll use GBP. Click on Deposit and follow the instructions. You'll need to transfer funds from your bank account to the provided bank details. Make sure to include the correct reference number to ensure your deposit is credited to your account promptly.

Step 3: Navigate the trading interface

The Archax Exchange Advanced Trading interface is designed to be intuitive, even for beginners. Here are some key features to note:

- Price Chart: This displays the current and historical price of the asset to the fiat pair. For example, in the figure below, you can see the price of Bitcoin against USD (BTCUSD). You can adjust the time frame to see price movements over different periods. You can see live market quote details at the top of the Archax Advanced Trading interface, including the last price, 24-hour change, volume, Bid and Ask.

- Order Book: Here, you can see the current buy and sell orders in real time. This gives you an idea of market depth and liquidity.

- Market Trades: This shows recent trades that have occurred on the platform. It provides insights into the most recent market activity.

- Order History: This section will display your past orders once you start trading.

Step 4: Place a buy order

To buy Bitcoin, you can Buy & Sell Crypto via the ‘Buy & Sell’ section.

1. Select trading pair: Ensure that you have selected the correct trading pair (for example, BTCUSD as shown in the interface above).

2. Choose your amount: Enter the amount and click on buy. You can enter an amount in the spend field to specify how much you want to spend, or you can enter an amount in the receive field to indicate how much you want to buy.

3. Confirm and pay: Review your order, confirm details and complete the payment.

4. Receive crypto: Assets will be delivered to your custody wallet once the purchase is successful.

Step 5: Monitor and manage your investments

After purchasing Bitcoin, you can monitor your investment through the Archax Exchange Advanced Trading interface. The Order History section will track all your past transactions, while the Price Chart helps you keep an eye on market trends. Additionally, the Trade History section provides transparency on recent market activities, helping you make informed decisions about future trades.

Next steps

Buying Bitcoin in the UK is straightforward with Archax's comprehensive trading platform. By following these steps, you can efficiently purchase Bitcoin and start your journey into the world of cryptocurrency investing. Whether you're a novice or an experienced trader, Archax's interface offers all the tools you need to trade with confidence. By integrating Archax's robust interface and following this detailed guide, you can navigate the complexities of cryptocurrency trading.

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