10 Leading Crypto Exchanges in the UK
Find the most regulated and best crypto exchange UK based on your needs and the digital assets you want to trade.
Several UK exchanges allow you to trade crypto assets such as Bitcoin, Ethereum, and lesser-known cryptos. Trading platforms in the UK for cryptocurrencies have significantly improved in recent years. The best crypto exchanges provide a variety of digital currencies at transparently low prices. User interfaces are easy to use, excellent security, and automatic processes are no longer a problem.
So, how do we choose the best crypto in the UK? We scoured the market and ranked the best crypto exchanges in the UK based on the most crucial aspects. These factors include regulation, the number of available cryptos, fees, payment methods, and charting tools.
To select the best cryptocurrency exchange, the user should first determine which one best meets their needs and then compare features such as fees, pros, and cons of each exchange.
10 Best Crypto Exchanges UK to Trade with 2023
- eToro – Overall Best UK Crypto Exchange
- Kraken – Among World’s Most Popular Exchanges
- Binance – Largest Crypto Exchange
- Revolut – Best Exchange for Beginners
- Gemini – Established Crypto Exchange with Fair Fees
- Crypto.com – Great Trading Tools & Features
- Coinbase – Great Security and Usability
- Coinjar – Longest-Running Crypto Exchange
- Huobi – Popular Exchange Offering 500+ Coins
- OKX – Fastest Global Exchange
Detailed Reviews; Best Crypto Exchange UK
1. eToro – Overall Best UK Crypto Exchange
When it comes to advanced trading, eToro is the best crypto exchange UK. It was among the first to introduce the concept of copy trading in 2010. Since then, the platform has added several social features, such as a news feed in the style of Facebook that facilitates direct interaction with other traders.
By using eToro’s copy trading feature, you can see and copy trades made by skilled investors. It’s simple to get started: select a trader you want to follow and then configure your crypto exchange account to track their trading moves.
Start copying the trades of successful crypto investors on eToro with as little as US$200. This service is provided at no additional cost.
Even beyond its copy trading capabilities, eToro is as much a social media platform as it is a broker because of the depth of its social features. Traders can discuss their approaches, speculate on price movements, and share relevant stories.
Pros
- Copy trading is one of the unique features.
- Advanced traders can choose from tiers of membership.
- The UK’s Financial Conduct Authority has been approved as a crypto-asset firm.
- Trade both domestic and international stocks.
Cons
- It can be challenging to choose the right trader to copy.
- Exchange fees are higher for non-US customers.
- Spreads are wider than on other exchanges.
2. Kraken – Among World’s Most Popular Exchanges
Kraken, founded in San Francisco, California, in 2013, has a reputation for high security and a positive user experience. It is the best cryptocurrency exchange in the UK, and users are welcome to join.
There are over 185 coins available and a good selection of crypto staking options, ranging from 3-6% APY on $ADA to up to 20% APY on $MINA. The platform also allow margin trading.
This cryptocurrency exchange in the United Kingdom is said to have 4 million active users. Security is an important feature. The platform works regularly with an external auditor to ensure proof of reserves. Both the ISO 27001 certification and the cold storage are in place. Users should also expect 2-factor authentication to be the default when logging in.
Kraken offers the majority of its services to customers in the United Kingdom, with the following exceptions:
- Opt-In Rewards are not available to clients in the United Kingdom.
- Retail clients cannot engage in futures trading.
Kraken is ranked among the best crypto exchanges in the world by Coinmarketcap.com, with a 24hr trading volume of $883 million. According to reports, Kraken has never been hacked.
Pros
- Extremely secure.
- Kraken Pro is designed for advanced traders.
- Numerous crypto staking options
Cons
- Some users have reported long wait times for deposits, withdrawals, and customer service.
3. Binance – Largest Crypto Exchange
Binance is the best crypto exchange in the UK because it continuously evolves its services and is at the frontline of innovative crypto products.
Binance has tools and features for almost everyone, whether you want to learn more about crypto and blockchain or go beyond basic crypto coin trading.
For instance, after purchasing crypto, you can deposit it into an account and earn interest on it. Binance has also experimented with Fan Tokens, which allow fans to support and shape their team’s decisions. They advertise new crypto products on their Token Launch Platform.
Fans of DeFi will be satisfied, as Binance offers a range of DeFi services based on its own Binance Smart Chain.
Open account with Binance now!
Pros
- Vast earning hub with benefits.
- Exclusive access to crowdfunding opportunities.
- The integration of DeFi markets.
- The NFT market.
- Launching new products frequently.
Cons
- Many products are risky and experimental.
- The Financial Conduct Authority has not registered it.
4. Revolut – Best Exchange for Beginners
Revolut is our pick for the best crypto exchange uk for beginners because of its digital-first philosophy and user-friendly app. Combining traditional bank services with cryptocurrency features makes it easy to get started with cryptocurrency trading.
For beginners, ease is important. With the Revolut app, you can instantly acquire, store, and trade ninety or more distinct cryptocurrencies. With money in your Revolut checking account, you can start investing almost immediately.
You can select which cryptocurrencies to invest in, establish automatic purchases, send crypto to other Revolut users, and use performance analytics to gain insight into your portfolio’s health, all from within the app. Your Revolut debit card can accept instantly converted tokens in crypto spending mode.
But it is Revolut’s Learn & Earn modules that set it apart. It is a series of short courses designed to teach beginners the fundamentals of cryptography. If you pass the quiz, you will be rewarded with a small amount of DOT coins.
Revolut has everything you need in one convenient place to get a feel for cryptocurrency and buy some digital assets for yourself.
Open account with Revolut now!
Pros
- Purchase cryptocurrency from within the app.
- Resources for education.
- Buy multiple cryptos with fiat currencies.
- Earn free cryptocurrency.
- UK Financial Conduct Authority-registered crypto asset firm.
Cons
- Transaction fees are relatively high.
- A limited number of coins are supported.
5. Gemini – Established Crypto Exchange with Fair Fees
The Gemini exchange, founded in 2014 by the Winklevoss brothers, is based in the United States but accessible to UK cryptocurrency enthusiasts. There is a good selection of 100 cryptos to choose from. The tiers of pricing are easy to understand. However, it is expensive when compared to other leading UK crypto exchanges.
Gemini has its own NFT marketplace, which is why it is our choice for the best NFT exchange. In addition to being one of the largest NFT marketplaces, Nifty Gateway is also famous for being the first to introduce NFT collections from famous musicians.
Nifty Gateway makes it simple to buy, sell, and store NFTs. Because it is a custodial platform, all NFTs are kept in a secure wallet protected by Gemini’s security technology. It also gives you access to many popular collections, such as CryptoKitties.
Most NFT platforms only accept payments in Ethereum, which can cause troubling network or gas fees if used by too many people. If you have a Gemini Balance, you can use it at Nifty Gateway to buy your favorite NFT without signing transactions or figuring out any gas costs. When an NFT is made, bought, or put up for sale, Nifty Gateway also pays for gas.
Pros
- Internal NFT marketplace.
- Fiat and cryptocurrency are both accepted.
- There are no purchase or minting fees.
- Registered as a crypto-asset firm with the UK Financial Conduct Authority.
Cons
- Significant backlog for creator applications.
- In March 2021, an NFT heist occurred.
6. Crypto.com – Great Trading Tools & Features
Established in 2016, Crypto.com is also the best crypto exchange UK that has risen to prominence by featuring well-known American actor Matt Damon in its Super Bowl ads. In addition to sponsoring the 2022 FIFA World Cup in Qatar.
There is substance hidden behind the marketing. The platform’s user-friendly interface places it among the best crypto exchanges in the UK. Crypto.com offers more than 250 different coins and boasts impressive security features like industry-leading insurance protection and verified proof of reserves. There is also remarkable security certification.
The variety of crypto financing options available is also impressive. Investors can stake cryptocurrency for up to 14.5% APR and borrow cryptocurrency with collateral.
There are two less noteworthy areas. Fee information is hard to find, and complete fee information is only given before trades are executed. Furthermore, traders need separate accounts on the mobile app and the full-featured exchange available via desktop computers at Crypto.com.
Overall, Crypto.com’s investment in functionality confirms its position as one of the top UK crypto exchanges.
Pros
- There are 70 million registered users.
- Crypto Earn for staking facility
- Crypto Lend facility for borrowing
- The user interface is sleek and appealing.
Cons
- Trading fees vary according to the transaction.
7. Coinbase – Great Security and Usability
With over 108 million users, Coinbase is a prominent and best crypto exchange UK. Its mobile app follows its platform’s beginner-friendly approach.
The app’s main features and services are accessible through simple design. It includes the learning rewards, debit card, Earn feature, and automatic buys that Coinbase offers.
If you want to go further, the app gives you access to Coinbase’s Advanced Trade feature. Here, you can place limited orders and see more advanced analytics. A Web3 wallet can be used to buy NFTs, trade assets, and generate a yield from third-party dApps.
Want to keep track of prices and your account? The app can send push notifications about security issues, account activity, price changes, news, and new products. Finally, if you ever need assistance, you can use the app’s live chat support or access the exchange’s helpful guides with a single click. Hence it is one of the leading investing cryptocurrency trading platforms.
Open account with Coinbase now!
Pros
- Offers more than 200 coins.
- An easy-to-use interface.
- Earn crypto while learning with Learn and Earn.
- Spend crypto worldwide with the Coinbase Visa card.
Cons
- Not an FCA-registered crypto-asset firm.
- Staking and earning options are limited.
- Fees are higher than spot market exchanges.
8. Coinjar – Longest-Running Crypto Exchange
The value offered by CoinJar makes it our top pick for the best exchange. There are no fees to deposit or withdraw, and the spread is very low. Crypto exchanges often hide this fee.
Users from the UK are not charged for deposits or withdrawals made in GBP. A small percentage fee applies when you trade on CoinJar; this fee is slightly higher if you buy crypto through the Instant Buy option.
Both the taker and maker fees for transactions on the CoinJar Exchange are kept relatively low. In addition, the lower the fee, the more you trade.
CoinJar provides customers with value in other ways as well. For instance, with its crypto debit card, users can spend their virtual assets and earn CoinJar Rewards simultaneously. As a result, CoinJar is also the best crypto exchange UK.
Open account with Coinjar now!
Pros
- The platform is simple and easy to use
- There are no deposit or withdrawal fees.
- Card payments are processed instantly.
- A cryptocurrency debit card with rewards.
- UK Financial Conduct Authority-registered crypto-asset firm.
Cons
- Services for active trading are limited.
- The withdrawal waiting period.
9. Huobi – Popular Exchange Offering 500+ Coins
Huobi, which has been in operation since 2013, is based in Singapore and accepts UK crypto investors, making it the best crypto exchange UK. With more than 500 coins available, this is a good choice for investors who want to spread their crypto net wide.
Over $4 billion in cryptocurrency is traded with Houbi every 24 hours. So we can be confident that this is a solid venture.
In the past nine years, Huobi has experienced zero security incidents. The platform keeps a security reserve fund of 20,000 $BTC to pay back investors if a hack is successful.
Credit cards can be used to buy crypto, but finding information about fees is challenging. Conveniently, the minimum trade is only 10 EUR. As a whole, this is a popular exchange for more seasoned crypto investors.
Pros
- 500+ cryptocurrencies are available.
- Many trading and crypto finance options.
- Compatible with iOS, Android, Windows, and Mac.
- Meets the highest security standards.
Cons
- Lack of transparency in non-trading fees.
10. OKX – Fastest Global Exchange
UK’s most innovative and best cryptocurrency exchange, OKX, makes buying, selling, and trading cryptos simple. You can get high-end financial services and great introductions to cryptocurrencies through OKX. The buy-sell dashboard requires effort to use.
- This cryptocurrency exchange accepts a variety of fiat currencies for account opening.
- The trading platform’s native wallet feature supports 36 digital assets and various vaults.
- OKX provides 11 proof-of-work mining pools in addition to Bitcoin, Ethereum, and Litecoin.
- The fee structure consists of two tiers, each with multiple levels.
- Many staking, saving, and DeFi options are available, much like Binance.
OKX, like Binance, has its own ‘OKX Risk Shield’ in-house insurance. It means that money is available to pay investors back in the unlikely event of a hack.
Pros
- There are 20 million users worldwide.
- More than 350 coins are available.
- App for smartphones that is highly rated.
Cons
- Only Chatbot customer service.
Is Storing Crypto on an Exchange Safe?
Digital wallets are used to store cryptocurrency. Some exchanges will provide you with a personal wallet that enables you to store crypto in your exchange account and transfer it wherever you like.
After buying a lot of digital assets, you can transfer the private keys to a self-custodial wallet. It is because you don’t have complete control over your money because the exchange holds the private key to your wallet.
Centralized exchanges can be hacked, so leaving your crypto private keys with them is risky.
How Does Crypto Exchange Work?
Cryptocurrency exchanges function as trading platforms. It provides an efficient cryptocurrency trading platform through which traders can create various types of orders to buy, sell, and trade cryptocurrency with other traders.
Cryptocurrency exchanges are centralized and run by corporate management. While decentralized exchanges typically grant verification rights to those willing to join a network, similar to cryptocurrency blockchains.
How to Use a Cryptocurrency Exchange
Suppose you have £500 to buy Bitcoin (BTC);
- Compare crypto exchanges to find one that meets your needs.
- Create an account on the platform with personal information and ID.
- Navigate to the “Buy” screen.
- Select BTC as the crypto you want to purchase.
- Pick your payment currency, which in this case is GBP, and enter £500 as the amount you want to spend.
- Choose a payment method, such as a credit card or wire transfer.
- Enter your payment info, such as your bank account details, credit card number, and CVV.
- Check your transaction fees and BTC amount, then “Buy BTC” is ready.
The bitcoins will be sent to your exchange wallet once the transaction has been completed. However, some brokers will send your BTC to your specific external wallet address.
How to Pay for your Crypto in the UK
UK crypto exchanges accept these deposit methods:
- Debit/Credit Card
- Bank or wire transfers
- PayPal, etc.
- Transfers of cryptocurrency
- Skrill, Neteller, and other online payment services
- SEPA/SOFORT
Payment methods differ between exchanges. Before signing up, make sure your payment method is supported.
Things to Consider for Best Crypto Exchange UK
A beginner in the crypto world may need help finding the best crypto exchange UK. Here are some crypto exchange selection tips:
- Find a UK-supported Bitcoin Exchange: The user should determine whether the platform is simple and suitable for beginners. Additionally, they should look for a UK-supported bitcoin exchange that facilitates easy and quick GBP deposits for trading. Users should also check whether they provide a mobile app for buying, selling, and trading Bitcoin at any time of day.
- Check for Available Cryptos: It is always a good idea to look into all the cryptos that the exchange supports. You can buy, sell, and trade thousands of cryptocurrencies on the market. However, not every crypto exchange will let you trade every coin. If a user wants to purchase a particular crypto, they should check the exchange’s site to see if the crypto is listed and the trading pair is available.
- Pick a Regulated UK Exchange: The next step is to determine whether or not the UK exchange is regulated. It is essential to check if the platform can be trusted and if there are negative reviews. Besides that, the exchange should be hosted following UK laws. Crypto exchanges regulated and certified by FCA (The Financial Conduct Authority) are safe places to buy and sell digital currencies.
- Exchange Fees: When using a cryptocurrency exchange, the user should be aware of the various fees, such as trading fees, depositing fees, and withdrawal fees. In addition, crypto exchange platforms may not disclose a spread fee or Forex conversion fee.
- Customer Support: The user should browse the crypto exchange site to learn how to get in touch with customer service. Some of the best crypto exchanges in the UK often provide FAQs and how-to guides; these are extremely helpful to new traders. Additionally, the user should check to see if the exchange offers a live chatbot or a ticket system for customers to interact with customer service directly.
Our Selection Criteria for the Best Crypto Exchange UK
We have examined several key factors that are characteristics of most UK Bitcoin trading platforms.
1.Number of Cryptos Available
Investors think a UK Bitcoin exchange is better if it has more crypto. The vast selection is ideal for more experienced investors, especially those seeking a strategy involving unknown tokens. However, in the beginning, it is best to keep things simple.
A large number of coins can be easily accessed on eToro. For novice-to-intermediate investors, this is enough to integrate a diversified crypto strategy without being stressed by choice. You can easily buy and sell a wide variety of cryptocurrencies on this top-rated UK-based exchange.
2.Regulation
Although it is legal to invest in cryptocurrencies in the UK, they are not subject to regulation. It means that if a cryptocurrency suddenly shuts down functioning, the UK investor has no relief.
A large number of the UK crypto exchanges on our list are under the close supervision of the Financial Conduct Authority (FCA). Although no regulation is entirely safe, FCA supervision is convincing. Investors can be confident that these exchanges are managing their business affairs properly as a result.
So, if you want to find the safest crypto exchanges in the UK, you should stick with platforms that the FCA regulates.
3.Fees
UK crypto exchange fees include trading and non-trading fees for deposits, withdrawals, and other fees.
Trading Fees
Many UK crypto trading platforms use a maker/taker system for cryptocurrency transactions. It is a band-based sliding scale. The user’s trading activity over the previous 30 days is considered when determining the commission for a given trade; the more activity, the lower the fee.
It’s difficult to understand these maker/taker systems. We like the clarity of a fixed commission that applies to every trade, no matter how many times you trade in a 30-day period, how big the trade is, or anything else.
Non-Trading Fees
On a few UK Bitcoin trading platforms, deposits made in fiat are subject to fees. The inactivity fees vary between the best Bitcoin exchanges in the UK. These come in the form of a monthly fee imposed if a trader does not conduct any transactions for a set period.
4.Payment Methods
Many top cryptocurrency exchanges for novices, including Gate.io, Binance, Coinbase, and Crypto.com, allow credit card “instant buy” trading. It involves purchasing the crypto immediately without depositing any fiat money into the platform’s account. Due to high commissions, this method of purchasing cryptos is often expensive.
Users purchase crypto with their account balance, which can be loaded using the UK’s Faster Payment system, Neteller, Skrill, or a credit card.
Many traders want to purchase cryptocurrency using PayPal, but only a few platforms support this quick and simple deposit method.
5.Charting Tools
In crypto trading, charting tools are used to identify patterns on price charts. The best Bitcoin exchanges in the UK provide many helpful charting tools.
Charting tools are essential for advanced traders. Even for a beginner, opening a price chart and using some simple tools can provide useful information.
eToro is one of the UK crypto exchanges that lets you copy trades and look at charts. It is ideal for newcomers to the crypto market because it allows them to instantly copy the trades of skilled investors with successful track records.
Risks of Using a Crypto Exchange
- Transaction Limits: The majority of crypto trading platforms have daily limits on deposits and withdrawals. It means that even if you have 10,000 GBP available, you may be unable to access and withdraw the entire balance. Transaction limits vary by exchange and are subject to FCA rules; they typically rise as you submit more KYC info.
- Not your keys: The phrase “not your keys, not your crypto” refers to storing your digital assets in a wallet controlled by another individual or company, such as an exchange. By storing cryptos on an exchange instead of in a non-custodial wallet, you’re giving up full ownership of those assets and putting your trust in a third party, which may go against the idea that crypto is decentralized.
- Lack of consumer protection: Even though crypto exchanges in the UK are getting more and more regulated and may even be registered with the FCA, they still don’t have a lot of consumer protection. It includes a lack of mandatory insurance or strict controls governing the management of user assets.
- Cybersecurity breaches: Unfortunately, hacks and scams are common in crypto. Exchanges and customers are concerned about exchange-related security lapses and targeted phishing scams.
- Proof of reserves: Many traders and investors have demanded that centralized exchanges show proof of reserves and user deposits since the widely reported collapse of FTX. It can be accomplished by a third-party auditor or by using on-chain data. Proof of reserves is still a developing concept; it needs to be clarified what the best practices are and how dependable they will be.
- Asset delistings: A cryptocurrency can be delisted from a centralized exchange at any time. It can happen for various reasons, such as poor asset performance, security concerns, or anti-money laundering (AML) violations. If your assets are delisted, you will be alerted by the exchange and forced to sell them or remove them from the platform.
- Frozen accounts: Deposits and withdrawals on cryptocurrency exchanges can be frozen anytime. If your account is frozen, you will be able to withdraw money once the exchange decides whether to accept or reject your request. It is suggested to take precautions like only keeping a trading balance on an exchange.
How to Buy Crypto From an Exchange?
If users want to buy crypto, they must open an account with a regulated cryptocurrency exchange. They should also get a crypto wallet to store their cryptos, or the crypto exchange will provide one.
When selecting a crypto exchange, the user should be cautious because only a few will provide the user with a wallet and will not allow the user to withdraw funds from the crypto trading platform. If the exchange is hacked and the user’s funds are lost, the user’s funds are at risk.
Which Crypto Exchanges Have the Most Coins?
Binance is the greatest crypto exchange because it has the largest selection of high-quality coins. Cryptocurrency assets are an extremely risky, unregulated investment product with no investor protection in the UK or the EU. However, profits earned from the sale of cryptocurrencies may be subject to capital gains tax.
Is it Safe to Invest in Cryptocurrency in the UK?
Cryptocurrency assets are an extremely risky, unregulated investment product with no investor protection in the UK or the EU. However, profits earned from the sale of cryptocurrencies may be subject to capital gains tax.
Which is the Best Crypto Exchange UK?
There are numerous crypto exchanges in the UK, but only some, including Coinjar, eToro, Revolut, and Crypto.com, are FCA-licensed.
Can Revolut be Trusted?
Revolut is a safe firm and a good choice for international money transfers. The Financial Conduct Authority has granted permission to the company (FCA).
In Summary
This article covered in-depth analyses above for leading crypto exchanges in the UK and beyond before making a final choice. Check if your investment objectives, risk tolerance, and budget are met by each platform’s features, fees, and pros and cons.
The needs of crypto buyers and sellers and the services offered by cryptocurrency exchanges vary. It is important to research, as the best exchange for one individual may not be the right choice for another.
Top platforms such as Crypto.com, Revolut, Binance, and others listed above have made it their mission to provide value to everyone. In today’s market, the top crypto exchanges for novices are also the top providers for seasoned pros.
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