How to trade bitcoin
The first ever cryptocurrency – bitcoin – is famed for its volatility and potential. Learn more about buying and selling bitcoin with our spot crypto account.
Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening an account.
Learn about bitcoin
bitcoin (BTC) is the world's first cryptocurrency, launched in 2009 by an anonymous person or group known as Satoshi Nakamoto. It operates on a decentralised technology called blockchain, which manages and records transactions across many computers without a central authority like a bank or government.
Unlike traditional currencies issued by governments, bitcoin has a limited supply of 21 million coins, making it inherently resistant to inflation. This scarcity, combined with growing adoption and interest, has contributed to its significant price appreciation over time.
BTC’s value comes from its utility as a borderless payment system, its potential as a store of value (sometimes called ‘digital gold’), and increasing institutional acceptance. However, its price can experience extreme volatility, making it both an opportunity and a risk for investors.
In 2010, bitcoin traded at less than $0.01 and by December 2024, it exceeded the $100,000 mark. The bitcoin story is one of meteoric rallies and bursting speculative bubbles, with one constant – market volatility. This unpredictability – and high risk – is what attracts people, but also why bitcoin trading should be approached cautiously by beginners and experts alike.
Please note that all figures refer to historical performance, which is not a reliable indicator of future results. All amounts are quoted in US dollars, and outcomes may differ in other currencies. Returns may increase or decrease due to currency fluctuations.
What moves bitcoin's price?
To open a position on bitcoin, you first need to understand the factors that have an impact on its price:
- Coin supply. The current bitcoin supply is capped at 21 million, which is expected to be exhausted by 2140. A finite supply means that the price of bitcoin could increase if demand rises in the coming years
- Bad press. Any breaking news that concerns bitcoin’s security, value and longevity tends to have a negative effect on the coin’s overall market price
- Integration. bitcoin’s public profile depends on its integration into new payment systems and banking frameworks. If this is carried out successfully, demand might rise which will have a positive effect on bitcoin’s price
- Key events. Regulation changes, security breaches and macroeconomic bitcoin announcements can all affect prices. Any agreement between users on how to speed the network up could also see confidence in bitcoin rise – pushing the price up
- Market capitalisation. The value of all the coins in existence and how users perceive this to be developing will increase or dampen demand. Growing market capitalisation could see bitcoin become a more sought-after investment
How to buy and sell bitcoin
With our spot crypto account, you can buy and own actual bitcoin. This means you'll take beneficial ownership of the cryptocurrency, when you purchase it, held by our partner Uphold in your beneficial interest, and you'll profit if you sell your coins when their price rises beyond your original purchase price.
Plus, you can hold it for as long as you want, with no overnight fees.
Our platform offers an intuitive way to buy and sell bitcoin. As the wider bitcoin market is relatively liquid, you're likely to be able to execute your orders at your desired price, even for larger amounts.
Benefits and risks of buying bitcoin
- Beneficial ownership: you hold beneficial interest in your bitcoin investment when you ‘buy’ it
- No time limits: hold your BTC for as long as you want with no overnight charges
- User-friendly platform: buy and sell bitcoin on our award-winning platform¹
- Security: your cryptocurrency is stored on your behalf without the complexity of managing your own wallet
- Transparency: clear fee structure with no hidden costs
- Deep liquidity: access to a highly liquid market with fair pricing
- Market volatility: bitcoin prices can fluctuate dramatically, sometimes by double-digit percentages in a single day
- Regulatory uncertainty: changes in government regulations could impact the coin’s value and availability
- No guaranteed returns: past performance is not indicative of future results, and bitcoin investments can decrease in value
Make your first bitcoin purchase
Opening a spot crypto account usually takes minutes. And there’s no obligation to fund your account until you’re ready to trade.
Open your position
Once you’ve selected bitcoin from the list of available cryptocurrencies, enter the amount (in pounds) that you want to spend on the coin. You’ll automatically see the equivalent in BTC that you’ll get for that amount — though please note that we charge a sole fee comprising a 1.49% flat spread on all crypto trades. Then, review and confirm your order. The bitcoin will immediately reflect in your account.
Monitor and close your position
You may want to close your position to realise a profit or avoid further losses. Navigate to your portfolio, select bitcoin enter the value (in pounds) that you want to sell. Then, review and confirm the sale.
Get the latest bitcoin news
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How MicroStrategy and Coinbase have transformed with Bitcoin's rise (and fall)
2025-03-03T15:31:44+0000
FAQs
Do I need to use an exchange to trade bitcoin?
No, with our spot crypto account, you can buy bitcoin directly on our platform without using a cryptocurrency exchange. You can buy and own bitcoin, even in fractions through our partner Uphold — and then sell it again whenever you want, assuming market liquidity and no operational outage.
Do I need a digital wallet when buying bitcoin?
No, our partner Uphold stores your bitcoin for you. You don't need to set up or manage your own digital wallet.
What are bitcoin’s trading hours?
bitcoin markets operate 24/7, unlike traditional financial markets. This means you can buy and sell bitcoin at any time, day or night, including weekends and holidays — as long as there are no outages. For reference, the past outage was in 2013.
What is the minimum amount to start bitcoin trading?
You can start trading bitcoin with us with £10 – and you can buy bitcoin in fractions, allowing you to start with a small amount. As with all speculative investments, only invest what you are comfortable with and what you can afford to lose.
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Learn how to get started with a cash crypto account and own your favourite coins.
1 Best Finance App, Best Multi-Platform Provider and Best Platform for the Active Trader as awarded at the ADVFN International Financial Awards 2024.
* We're available 24/7, except for a short break between Friday 10pm and Saturday 8am.
Important to know
The footer below includes standard risk disclosures and regulatory information applicable to IG’s broader range of investment services, including regulated financial instruments.
This page relates to unregulated crypto products, which are not covered by the Financial Conduct Authority (FCA) and do not benefit from regulatory protections such as the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS).
Please ensure you understand the specific risks associated with unregulated crypto assets.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Professional clients trading spread bets and CFDs can lose more than they deposit.
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