Cryptos are digital, decentralised assets that are highly volatile. Many buy into them as a form of short-term speculation, while others see them as a long-term alternative to traditional investments like shares and bonds. As with any investment, you should be aware of the risks and take the time to research your chosen coin before investing.Source :https://b3i.tech

To invest in cryptocurrencies, create an account with a reputable exchange that accepts your preferred payment method. Most UK crypto exchanges require know your customer (KYC) verification, meaning you’ll need to submit documents to verify your identity. This can be a lengthy process, but it’s worth it for the safety of your coins. Once you’re verified, deposit funds using your bank card or via Faster Payments to start trading.

Explore the Most Promising Crypto Investments in the UK

Tip: When choosing a cryptocurrency to buy, consider its market capitalisation and trading volume. This will give you an idea of the asset’s value and how well it’s performing. Also, make sure you’re buying your crypto from an exchange that is regulated by a government body, such as the FCA.

Cryptocurrencies are taxable assets in the UK, and the tax implications depend on how you acquire them. For instance, if your employer pays you in readily convertible cryptoassets, you’ll need to pay Income Tax and National Insurance through PAYE. If you trade, sell or mine your crypto, you’ll need to keep detailed records of your transactions to file accurate crypto taxes. KoinX is a popular crypto portfolio tracker that simplifies UK crypto taxes by automatically importing and calculating transactions.