Many new crypto investors are asking how to buy Bitcoin in the UK.
Here is one of a few ways that investors can do so in a relatively straightforward way.
CashPlus is the oldest UK challenger bank and a provider of prepaid Master Cards and current accounts.
Their service target market is consumers and small businesses. They were the very first prepaid credit card launched in the UK back in 2005, however, they have evolved from being a service provider into a fully-fledged, user-friendly UK bank. Cashplus offer a range of services such as loans, credit cards, personal accounts and a prepaid card to small businesses in the UK.
What Makes Cashplus User-Friendly?
The bank functions in much the same way as traditional banks but without the hassle often associated with the former. If you want to buy bitcoin or any other cryptocurrencies in the UK, you might have already experienced some issue with your own bank in doing so. This is where Cashplus comes in. They offer a prepaid business card, which makes life a whole lot easier.
The Business account option is what we are looking at for the purpose of buying bitcoin UK. Cashplus term their card as a 'business expense card'. Banking is via an App. so, to use this service, you would need to download the Cashplus Mobile banking app. to your device so you can interact 24/7. According to Cashplus, it is a fast online application, with no credit checks necessary to open an account.
How To Buy Bitcoin UK With A Prepaid Card
If your bank is not making it easy for you to transfer your money to a cryptocurrency exchange to buy Bitcoin or any other crypto, Cashplus makes it possible for you to do just that. When you apply for a Business Mastercard, which they state will be with you within 3-5 business days.
The card will be personalised with the business name, enabling the holder to receive funds to the card. It can also be preloaded at a local post office with funds from an existing bank account or, with cash.
Cashplus is a 24/7 online current account with an easy account management system. They do offer an interesting alternative to conventional high street banks and with in excess of 1.9 million cards having been issued to customers, and payment processing reaching £10 billion, they certainly appear to be gaining traction in the market.
Your account is managed online and you can set up an account in as little as 4 minutes. There are no credit checks either. – you’ll get a sort code and account number instantly so you’ll be ready to accept payments.
With increasingly more people opting to work from home or to start up a small business, this card makes things a whole lot more convenient. If you want to buy Bitcoin in the UK, Cashplus appears to be one of the few remaining ways of being able to do so without the finger-wagging antics of some traditional banks.
You can sign up with your business name and get an instant online decision about securing a business account card. In the past, crypto investors achieved less than favourable results when using a preloaded card to buy from online crypto exchanges. This was because many cards did not have all the unique features of a bank card and investors' cards were often declined for this reason.
With Cashplus, the card will have its own account number, sort code and is ready to accept payments or for preloading. You will still have to undergo KYC (know your customer) on a crypto exchange though but to a lesser extent if you choose to use a decentralised one.
You can apply for and buy their prepaid card online by completing your details including the amount you want to load to the card. You can also learn about other options for obtaining the card by visiting their website.
The card will arrive within 3-5 days of opening an account, with the option of up to 20 additional cards that can be added to the same account for other users. There is also the option of Euro and USD cards.
Fees
As well as being able to send and receive payments, you can also pay in and withdraw at the Post Office.
A small annual fee is payable for the Cashplus account and there are additional fees charged for paying cash in at the Post Office and for ATM withdrawals. Do check their website for the full range of costs involved. The first 3 electronic payments and transfers of each month are free, but any in excess of this are also charged so check their website for their current fee structure.
Customer Service
Their customer service team is UK-based and they have a number on which they can be contacted. You can also get in touch with them online.
Consumer Protection
On a final note, funds deposited into a Cashplus Business Bank Account is protected by the Financial Services Compensation Scheme (FSCS) up to the value of £85,000.
So there you have it, how to buy bitcoin UK, another small step toward achieving privacy and financial freedom. Do remember to practice your own due diligence and further research. You can often check out companies and services using the Trustpilot Service.
Learn more about them by visiting their Business Account section on their website:
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