How to join the Bitcoin revolution
A review of different services for investing in bitcoin and how you can generate bitcoin interest using Automata’s investment platform.
In this article, we will explain some of the best ways to join the bitcoin revolution and invest in bitcoin. For all those looking to make bitcoin profit and earn bitcoin interest, we will cover off some key platforms including Robinhood UK, Etoro UK and Revolut Premium. We will also explain how our own revolutionary platform Automata fits in as a Coinbase alternative to get more from your money
In the UK, you have a range of ways to start out with bitcoin trading and cryptocurrencies. You have exchanges, trading platforms and digital bank accounts. You’ll find a few of the top choices below.
1. Coinbase — UK Crypto Exchange
Coinbase is a leading global exchange, based in the US. It allows those in the UK to buy, sell and hold a variety of cryptocurrencies. Coinbase is established, well respected and easy to use. However in our experience Coinbase withdrawal in the UK could be easier. In terms of how to withdraw money from Coinbase they do not currently have Faster Payment support, so it is necessary to use Paypal or SEPA transfer to withdraw money if you don’t have a Coinbase card.
2. Etoro — UK Crypto Trading Platform
Etoro is a trading platform that allows UK users to trade cryptocurrencies, stocks, ETFs, FX, indices and commodities. The platform gives users the ability to copy the trades of succesful traders also on the platform, which is what Etoro call Social Trading. However Some users have reported finding Etoro UK fees to be high compared to competitors.
3. Revolut — UK Digital Banking
Revolut is a bank and card account that has more than 1m customers in the UK. Sign up to the platform and you get a GBP and EURO account, a Revolut card, the Revolut App, plus there is the option to sign up to Revolut Premium, which gives you access to 5 cryptocurrencies. Many people ask “Is Revolut Safe?” as it is not covered by the FCFS compensation scheme, however, they explain that in the event of Revolut’s insolvency your deposit is stored at Barclays and your claim would be paid above other creditors.
4. Robinhood UK — Digital Investment Platform (coming soon)
Although Robinhood is currently only available to those in the United States, it has recently received approval to act as UK broker so will be coming to the UK soon. Assuming it launches with similar features to those in the US, it will allow users to invest in Stocks, ETFs, Options and Cryptocurrencies all through a digital platform.
5. Celsius.network — Earn bitcoin interest
Although far smaller in terms of user-base than the above-mentioned options, Celsius.network allows users to earn up to 10% interest on their crypto. There are other platforms such as blockfi.com and nexo.io that offer similar services.
How Automata compares
As the table below shows, Automata combines some of the top features of Coinbase, Etoro and Revolut, plus it adds the unique ability to take advantage of automated crypto investment, allows users to always spend their balance even while it is invested, and provides returns with as little as £1.
While Automata doesn’t offer bitcoin interest like Celsius, instead it offers a tried and tested crypto investment algorithm that has demonstrated stable performance historically. This means you can select your investment risk profile, sit back and relax.
Get free Ethereum when you sign up to Automata’s BETA
New users who sign up to the Automata beta at automata.live will receive a sign-up bonus credited to their account (a random amount of cryptocurrency between between 0.01 and 1 Ethereum) which in today’s prices could mean up to £135 ($185) worth of crypto.
With this balance you can choose an investment profile and watch how your investment performs. This beta service allows early adopters to see how our platform and trading algorithms work.
We will be rolling out a host of features in the near future, including deposits, withdrawals and exchange in multiple fiat and crypto. As an early adopter you will get first access to the most exciting thing to happen to digital money management in years!
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