Bitcoin Wallet UK The Best UK Bitcoin Wallet 2023
Once you have decided on your platform and established your trading strategy, it is time to decide which UK Bitcoin wallet is best suited to your needs. The UK market is flooded with variety, where do you start?
In our Bitcoin Wallet UK review, we discuss the different types of wallets available, how vital your private keys are, and how to buy Bitcoin. We also compare each wallet to our very own Zeply wallet, which is linked to your account and allows for the swift exchange of your GBP and Bitcoin, all in one place.
Buying Bitcoin With Zeply
2021 has seen Bitcoin reach all-time highs of over £41,836, Elon Musk has invested £1.06 billion Tesla shares into BTC and, unsurprisingly, a surge in UK crypto exchanges.
When looking to buy Bitcoin in the UK, it is essential to do your due diligence before signing up to an exchange (check minimum deposit, withdrawal fees, deposit methods etc.). Once you have signed-up to your platform, you will need to have your documents verified.
Whilst you wait for your documents to be approved, it is worth looking at where you will store your Bitcoin, also known as a Bitcoin wallet. Later in this Bitcoin Wallet UK review, we explain each wallet type in more detail, exploring the positives of all wallets and bringing any flaws to your attention.
Once your account is verified, your wallet is set up, and you’ve successfully deposited your GBP, it is time to buy some Bitcoin! This process is as simple as selecting the amount you wish to purchase and clicking “Buy”.
Our Zeply platform takes the hassle out of setting up a crypto wallet, conveniently providing a secure home for UK users to buy, sell, trade, deposit, withdraw, and exchange without the need to open or purchase an external wallet. Our innovative exchange links directly to your wallet, allowing you to trade and exchange GBP to BTC instantaneously!
Types Of Bitcoin Wallet
Now you know how to buy Bitcoin in the UK, it is worth noting the different ways you can store it. As with anything involving money, your account’s security and the withdrawal methods/fees will be a huge consideration. We hope the below helps you identify the most appropriate wallet for your style of Bitcoin trading.
When searching for the best bitcoin wallet in the UK, you will come across the terms Hot and Cold storage. A hot wallet connects to the internet, is user-friendly but is seen as a less secure option. A cold wallet is stored offline, is hack-resistant and makes for an ideal long-term storage device.
Desktop/Mobile Wallet
Free and easy to set up, a desktop wallet allows for speedy Bitcoin deposits, withdrawals, transfers, and exchanges. However, the genuine threats of the internet require users to have some form of Anti-Virus software.
With this in mind, we would suggest not storing large amounts of Bitcoins on your desktop wallet. We at Zeply provide that extra level of security needed to ensure no matter what quantity of Bitcoin you hold; it is always kept safe.
Hardware Wallet
Unlike desktop wallets, hardware wallets are designed to protect your private keys from malware and viruses. Hardware wallets are portable devices, similar in appearance to a USB, and compatible with most Windows, Linux or Mac machines. A hardware wallet is often referred to as a cold wallet and is stored offline, making it the preferred method for UK investors.
It is worth considering how you plan to trade Bitcoin. If you are looking to trade quickly and efficiently, a Bitcoin hardware wallet may not be the most practical for you. Our secure Zeply platform enables you to cut out the middle-man, keeping your exchange and wallet activity in one convenient account.
Paper Wallet
As the name suggests, these wallets are completely offline. It is simply a piece of paper that contains your private key and public code; thankfully, it also features a QR code, so you don’t need to type in your keys every time you look to deposit, withdraw or send funds!
Although the risk of online threats is zero, the potential for losing your paper wallet is far greater than any other wallet. Below, in our Bitcoin wallet UK review, we highlight some key security features of your Zeply wallet, which come as standard when you sign up to the Zeply exchange.
When setting up any type of UK Bitcoin wallet, you will be given a private key and a public key. Your private key is a password that gives you access to your funds, and your public key is the code needed to receive funds from another BTC account. Both of your keys must be kept somewhere safe, away from public viewing.
Key Security Features Of Your Zeply Wallet
No matter how great your UK Bitcoin wallet is, your assets’ security is ultimately down to you as the trader. Sharing of your private keys, passwords or even email addresses could be enough to compromise the integrity of your account. Once your account is verified, we suggest setting up 2FA (discussed next in our Bitcoin Wallet UK review) and be alerted every time you, or someone attempts, to withdraw and deposit your GBP or BTC.
We at Zeply take security very seriously and offer you complete management of your funds. We aim to eliminate any of your storage concerns by keeping hold of your private keys, allowing for instantaneous transfers between your wallet and our innovative exchange. This means you never have to worry about losing access to your assets or having your security compromised, as you could with your own online, paper or hardware wallet (discussed earlier in this Bitcoin Wallet UK review).
When you sign up with us, we will expect users to complete the Know Your Customer (KYC) process before trading with us. This, quite simply, is a customer verification and proof of identification process to ensure that you are who you say you are. If you have recently signed up to any other UK financial institutions, you will know this is now a standard process. However, it is also a fantastic way to eliminate any risk of fraud, money laundering or terrorism.
Once your KYC has been verified, we would advise setting up your two-factor authentication (2FA). 2FA adds a second level of security to your account, meaning when you log-in, deposit, withdraw, send, buy or receive funds to your Zeply wallet, you will be required to enter a unique, one-time code to confirm the transaction.
If 2FA wasn’t enough to put your mind at ease, any future transactional activity is also logged and accounted for in the “activities” tab on your dashboard.
With KYC & 2FA completed, you are ready to start buying, sending and exchanging Bitcoin to your Zeply UK Bitcoin Wallet. Whether you have deposited GBP or received Bitcoin directly, your wallet will update itself instantly, showing precisely what funds you have accessible to trade.
At Zeply, we put our own spin on cold storage and ensure all your GBP and BTC are kept either in your name or in the name of Zeply in an independent bank account. Our records are kept segregated, meaning company funds are kept separate from clients and can be tracked easily.
Finally, it is worth mentioning that we are registered in Tallinn, Estonia, and are fully licensed by the Estonian Financial Intelligence Unit.
Choosing the right UK Bitcoin Wallet
Bitcoin is new, exciting and, at times, volatile. Trading traditional GBP to digital currency has its own risks, without having to worry about what wallet you should be using, how to transfer to your wallet and what charges may be incurred with each transaction.
At Zeply, we remove that worry, offering a platform with its own secure wallet. A safe, two-factor authenticated base to hold, withdraw or deposit with ease. We have no hidden fees, no maximum transaction limit and your wallet links directly to any completed trades within our exchange.
Our friendly and knowledgeable live agents can quickly address any problems and are on standby 24/7. We also have our own “Support” section, which showcases some of the most common queries we have, giving you a handy step-by-step guide on how to assist.
We hope this Bitcoin Wallet UK review has filled you with enough knowledge on how best to look after your Bitcoin. All that’s left now is to sign up to Zeply.
