General information, not financial advice. Crypto is high risk. You could lose all the money you put in.
The tax catch
In the UK, spending crypto, paying with a crypto card, or swapping one coin for another all count as disposing of it, so each can create a Capital Gains Tax bill. Keep a record of every payment, including its value in pounds on the day. See Crypto tax in the UK.
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Ways to spend crypto
- Pay direct, same coin. If a shop or person accepts the coin you hold, you pay to their wallet address, usually by scanning a QR code. Double-check the address: payments can't be reversed.
- Convert first. If they want a different coin, or pounds, you need to convert first, usually on an exchange, and then pay. Each conversion has fees.
- Crypto debit cards. Some firms offer Visa or Mastercard debit cards that convert crypto to pounds when you pay. Terms, fees and rewards change often and some cards have been withdrawn, so check the provider is on the FCA register and read its current fees before applying.
What we removed
Earlier versions of this page reviewed specific crypto cards and spending services. Many have since closed or changed their terms, so we've removed them until we can check the current options properly.
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