Your first crypto purchase — start to finish

Never bought crypto before? Walk through the whole process in order: decide if it is right for you, verify the firm, buy with pounds, store safely, and start tax records from day one.

1. Step 1 Should you invest?

   Can you afford to lose it all?

   FCA-aligned checklist — debt, emergency fund, FOMO and whether crypto fits your situation.

2. Step 2 What are digital assets?

   Plain-English basics

   A plain-English introduction for people who have never owned crypto — what digital assets are, everyday examples, and what makes them different from money in your bank.

3. Step 3 Check FCA register

   Verify before you pay

   Verify a UK crypto firm is on the FCA register before you send money. Plain-English walkthrough with what MLR registration means and what it does not.

4. Step 4 How to buy crypto

   Buy with pounds

   A step-by-step guide for beginners — choosing a safe app, paying in pounds, and keeping records for tax.

5. Step 5 KYC explained

   Why ID checks happen

   Why UK crypto apps ask for photo ID, how verification works, and what data CARF means from 2026.

6. Step 6 Safe storage

   Exchange vs your own wallet

   Where to keep your crypto, how passwords work, and what happens if you forget them — explained simply.

7. Step 7 Record keeping

   Start records now

   What transaction records UK crypto holders must keep for HMRC — dates, sterling values, fees and a free downloadable CSV template.