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How to buy Digibyte Coin online in the UK

It’s been called the sleeping giant of cryptocurrency and has a growing fanbase, but how realistic are these claims? If you’re looking to join the party, this guide will show you how to buy Digibyte in 2020 and where to trade it. 

Compare where to buy Digibyte Coin, and open an account

Read on to find out more about Digibyte in 2020 or skip ahead to our step-by-step buyers guide if you’re up to speed and ready to buy Digibyte online.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
  • ETH
  • NEO
  • ADA
  • BTC
  • XLM
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
FOREX.com
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Min Deposit
$50
United States
Start Trading View key features
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Top Coins
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated juristictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
Forex trading involves significant risk of loss and is not suitable for all investors.
CEX.IO
Key Features
Margin Trading
Legal compliance
Cryptocurrency staking
Min Deposit
$20
United States
Start Trading View key features
Key Features
Margin Trading
Legal compliance
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Credit Card, Debit Card, Wire Transfer, Cryptocurrencies, Skrill
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
LonghornFX
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed.
Trade a Wide Variety of Assets with Leverage up to 1:500
Min Deposit
-
United States
Start Trading View key features
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed.
Trade a Wide Variety of Assets with Leverage up to 1:500
Top Coins
  • BTC
  • BCH
  • ETC
  • ETH
  • NEO
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Bittrex
Key Features
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
Min Deposit
$1
United States
Start Trading View key features
Key Features
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
Top Coins
  • BTC
  • ARK
  • BNT
  • FUN
  • GNT
Payment Methods
Credit Card
Bittrex Global has one of the most secure trading platforms and digital holding infrastructures in the world where customers can access exciting new products.

What is Digibyte?

You may have heard that Digibyte is a big threat to Bitcoin, but is there any truth in such a bold claim? Digibyte looks great on paper and uses superior technology to a lot of more established coins. It’s secure, scalable and has nearly 100,000 nodes on the network, but uptake has been slower than expected. 

Less established coins often struggle to become widely adopted by the cryptocurrency community and that’s Digibyte’s Achilles heel. But don’t let that put you off – the Digibyte team have big plans for the coin and they still have Bitcoin in their sights. 

How does Digibyte work?

If you know how Bitcoin works, then you know how Digibyte works. Both coins use a Proof-of-Work algorithm and miners to extract new coins. The big difference is the technology behind Digibyte. It boasts much faster block times (fifteen seconds to Bitcoin’s ten minutes) yet remains the more secure coin (Bitcoin uses one mining algorithm while Digibyte uses five).

How to buy Digibyte online – step-by-step guide

Step 1. Get a suitable wallet

As you would expect with a coin so closely related to Bitcoin, there are plenty of storage options around, but it’s well worth checking a few wallets out before you decide on one. Here are our top picks for Digibyte: 

  • Official DigiByte Software Wallet: One of the best wallets for Digibyte comes directly from the Digibyte developers, who have created a highly versatile and secure mobile and desktop wallet that should suit your needs, especially if you want to join the network as a node. Simply buy Digibyte and send it across to the software wallet.
  • Ledger Nano X: If you’re into security and don’t mind paying a premium, then look no further than the Nano X from Ledger. It’s a top-of-the-range hardware wallet that’s difficult to beat.
  • Coinomi Wallet: As the only third-party software wallet that’s recommended by the Digibyte team, the Coinomi wallet download page is the place to go if the options above don’t float your boat. 

Step 2. Find a Digibyte exchange to buy DGB

Once you’ve got your wallet sorted, you’ll want to head to an exchange to buy Digibyte. Finding an exchange won’t be an issue, but we found prices and fees are quite variable, so it’s worth shopping around to find the best price for DGB. Here are two of our favourite Digibyte exchanges: 

Bittrex: One of the top exchanges, no matter which cryptocurrency you’re looking for. It doesn’t accept fiat currency though so you’ll need another cryptocurrency, such as Bitcoin, to get started.

HitBTC: If you want to buy your Digibyte with USD then head on over to HitBTC where you’ll find an easy-to-use interface and multiple coin support. 

Step 3. Withdraw your Digibyte

We always recommend that you withdraw your DGB once you’ve paid for them as they will be much safer in a wallet than left on the exchange.

How to trade Digibyte – step-by-step guide

If you’re only thinking about trading and have no intention of buying DGB, then you won’t need a wallet as you will be speculating on the price rather than buying Digibyte (DGB) coins.  

Step 1. Find a broker

When you are on the lookout for a broker, it’s good to do some homework and check out what’s on offer. There are lots of reputable brokers out there, but they all offer different features and levels of support. Some are geared towards newbies and some are just for the pros. Two of the biggest and best brokers right now are eToro and Plus500.

Step 2. Deposit money

After choosing a broker, the next thing you need to do is put down a deposit. Once your deposit is down, you’re good to go, but we recommend you don’t jump in too quickly, especially if you’re new to the game. Most brokers will let you set up a demo account which will give you a good idea of how it all works. 

Step 3. Decide how you’d like to trade

There are two ways to trade on cryptocurrencies. These are Spread Betting and CFDs (contracts for difference). On the surface, both of these methods seem fairly similar – whichever you choose, you’ll be making a call on whether you think the value of your cryptocurrency will rise or fall. If you’re not sure whether you want to choose spreads or CFDs it’s worth checking our cryptocurrency trading guide

Step 4. Start trading

As you’ll see once you’ve mastered your demo account, trading cryptocurrency isn’t that complicated. Regardless of whether you’re a complete novice or a seasoned pro you’ll be watching the ebb and flow of the value of your chosen cryptocurrency and taking a position based on whether you predict a rise or fall. If you’re confident the price will go up, you’ll take a long position (buy) and if you think it will fall, you’ll take a short position (sell). 

Depending on your broker and your experience as a trader, you can also add leveraged trading to your strategy. This enables you to put down a fraction of a trade’s worth (known as a ‘margin’), with the broker covering the rest. Be warned, though, this is not for inexperienced traders as it’s a high-risk move. Savvy traders often use stops to mitigate the risk and limit potential damage. 

Still undecided?

Pros
  • Digibyte has been trending down recently, but still has a lot of potential
  • Recent volatility has kept the traders interested
  • Digibyte is faster and more secure than a lot of older coins
Cons
  • Digibyte has yet to live up to the hype
  • There hasn’t been nearly enough adoption to make Digibyte a Bitcoin killer
  • Digibyte might have missed its chance to become the number one cryptocurrency
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.
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