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UK crypto trading platforms have come a long way in the last few years. In a crowded marketplace, the top exchanges provide a good range of cryptos with competitive and transparent, competitive fees. User interfaces are intuitive, security is top notch, and automatic verification procedures are no longer the hassle they once were.

So how do we pick out the best crypto exchange in the UK? Having scoured the market, we rank the top contenders below on factors that really matter - including regulation, number of crypto available, fees, payment methods and charting tools.

The 10 Best UK Crypto Exchanges to Trade with 2023

Before we take a more in-depth look at each platform, here’s a snapshot of the top UK cryptocurrency exchanges.

1. eToro: Overall Best UK Crypto Exchange for 2023

2. Binance: Largest Crypto Exchange in the World

3. Crypto.com: Great Trading Tools & Features

4. Gate.io: Popular Option for Trading for New Crypto

5. Coinbase: UK Bitcoin Exchange with Great Security and Useability

6. Bitstamp: One of the Cheapest Crypto Trading Platforms

7. Huobi: Popular Exchange Offering 500+ Coins

8. Kraken: One of the World’s Most Popular Exchanges

9. Gemini: Established Crypto Exchange with Fair Fees

10. OKX: Global Exchange with 20 Million Users That Accepts GBP

Visit eToro

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Detailed Reviews of the the Best UK Crypto Exchanges

Now let’s take an in-depth look at the best Bitcoin exchanges in the UK.

1. eToro: Best UK Crypto Exchange Overall

Launched in 2007, eToro has satisfied over 25 million customers in its 16 years of business, making it the top UK crypto exchange in 2023.

Alongside its crypto portfolio, this platform hosts a formidable clutch of stocks, indices, commodities, currencies and ETFs. For sensible investors wanting to diversify risk across different assets, this is highly convenient; with eToro, investors can manage all their assets in one place.

What’s more, this diversified asset offering gives UK users of eToro a significant advantage. As eToro is one of few crypto exchanges licensed by the FCA, retail banks do not have a problem with their account holders withdrawing and depositing funds with eToro; whereas some out-and-out crypto exchanges - however reputable - appear to be blacklisted altogether by UK banks.

As the best Bitcoin exchange in the UK, eToro offers a selection of 79 crypto coins that is manageable and well-curated. This includes major blockchain coins like Bitcoin ($BTC), Ethereum ($ETH) and Cosmos ($ATOM) and a full range of DeFi, Metaverse and GameFi tokens.

There are also 14 crypto crosses which can be bet on, including ETH/BTC, BTC/XLM and EOS/XLM.

Investors looking for a straightforward fee structure will be satisfied here. eToro charges a simple 1% commission on all crypto trades.

Another reason that eToro is one of the best ctrpto exchanges for beginners is its intuitive interface, which is clean and simple. There is a watchlist to keep an eye on crypto for the future, as well as a profile page that provides stats, research and data on each coin.

eToro has pioneered two key features that particularly suit beginners: Copy Trader and Smart Portfolios.

Copy Trader allows investors to copy the trading strategy of more experienced crypto investors. The service is free, and extremely well-supported by lists of traders that can be searched and filtered by performance, risk and asset focus. Some of these gurus have bucked the bear market entirely - check out Roberto Anzellotti with 554 copiers, who has managed a 12-month return of 61.81%. This is a great way for beginners to get into crypto by copying investors with proven track records of returns.

10 Crypto Smart Portfolios are also on offer. With a minimum investment of $500, each is themed to provide a particular way of investing in a range of crypto at once.

Overall, eToro provides a very user-friendly experience. The cherry on the cake is its regulation for cryptocurrency services by the FCA. With this protection, investors can be sure that there is no nonsense going on behind the scenes reminiscent of the FTX exchange fiasco.

Pros

• Just 1% commission on crypto trades

• Full-service provider: offers crypto and other assets like stocks, ETFs and commodities

• No problems transferring GBP from a UK bank

• Social trading features makes it great for beginners in particular

• $10 minimum trade

• Clean security record

Cons

• $5 flat withdrawal fee

Visit eToro

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

2. Binance: Largest of the Best Crypto Exchanges UK

With between $15 and $40 billion in crypto traded every 24 hours, Binance is one of the best crypto exchanges UK in terms of liquidity and trading volume. 120 million investors have used Binance, and UK customers are welcome.

As well as being the biggest crypto exchange, Binance has long held the reputation for being the cheapest. The platform operates a maker/taker fee schedule with fees capped at 0.1%.

Binance used to offer 600+ crypto, but this choice has been trimmed recently to a more manageable selection of 350. The rest of the operation, however, remains giant in scope.

UK investors can trade using spot prices or simply convert one crypto to another using a simple interface. There is also P2P trading, and swap farming with which investors can earn in-house crypto $BNB.

The range of staking solutions is impressive too, and well-managed. Binance Earn offers a one-stop investment screen for staking a range of crypto and there are numerous related options like liquidity staking, dual investment, ETH 2.0 staking and the Binance Pool. Like Gate.io, Binance offers a dedicated platform for new token launches.

Overall, Binance can be intimidating to newcomers. But a lot of effort has gone into making the platform as simple to use as possible. Binance has always been something of a pioneer and, over the last few years, other UK crypto trading platforms (like Gate.io and Crypto.com) have come to offer a similarly-wide selection of crypto products.

Pros

• The biggest crypto exchange on the planet

• Giant selection of crypto products

• In-house insurance fund (SAFU) and top security

• Low trading fees: maximum maker/taker - 0.10%

• Best crypto exchange in the UK for advanced charting tools

Cons

• Can be bewildering for beginners

Visit Binance

Crypto assets are a highly volatile investment product. Your capital is at risk.

3. Crypto.com: UK Crypto Exchange with Top User Experience

Founded in 2016, Crypto.com is another UK crypto exchange that has made a name for itself by using famous US actor Matt Damon in its SuperBowl ads and sponsoring the 2022 Qatar soccer World Cup.

Behind the marketing, there is substance here. The platform’s slick interface makes it one of the best crypto exchanges in the UK when it comes to user-friendliness. And, with a range of 250+ coins, Crypto.com boasts impressive security features, including industry-leading insurance coverage and verified proof of reserves. Impressive security certification is also evident.

Strong too is the host of crypto financing options on offer. Investors can stake crypto for up to 14.5% APR as well as borrow crypto using collateral.

There are two less impressive areas. Information on fees is very difficult to get hold of, with full fee information only provided prior to execution of trades. Also, investors must sign up individually for Crypto.com’s two platforms: the dedicated smartphone app for easy instant trades and the fully-fledged exchange accessible via desktop appliances.

Overall, Crypto.com’s investment in useability confirms it as one of the top UK crypto exchanges.

Pros

• 70 million registered users

• Crypto Earn facility for staking and Crypto Lend facility for borrowing

• Slick and attractive user interface

Cons

• Trading fees vary depending on transaction

4. Gate.io: Best Bitcoin Trading Platform in the UK For New Crypto

Launched in 2013, Gate.io was the first crypto exchange in China. It is now based in the Cayman Islands, and is ranked 10 of 534 exchanges on Coinmarketcap.com. Every 24 hours sees $600+ million of crypto change hands with Gate.io. UK customers are welcome, with GBP credit cards accepted.

With 1,400 crypto on offer as well as 2,500 trading pairs, this is definitely the place to come for investors seeking out the undiscovered gems of the crypto world.

One reason some people consider Gate.io as the best bitcoin trading platform in the uk is its reputation for supporting Initial Coin Offerings (ICO). Right now it is backing one of the hottest new crypto for 2023 - Dash 2 Trade, the in-house token for a powerful new crypto analytics platform built by the successful team behind Learn 2 Trade. The Gate.io Token Launch Platform has propelled no less than 629 new crypto projects onto the market, raising $86 million and attracting backing from almost 10 million investors.

This platform stands out for its impressive range of crypto trading choices. These include spot and margin trading, as well as options, futures and derivatives. Sadly though, crypto derivatives are currently banned in the UK.

However, when it comes to crypto finance and mining, UK investors can dive into a veritable treasure trove. Investors can use the ‘Lend and Earn’ facility to earn interest on their crypto or opt for one-click auto-investment. Both liquidity and cloud mining is on offer, and even parachain slot auctions. Like eToro, Gate.io offers a comprehensive copy trading suite.

Pros

• Wide range of 1,400 coins to trade

• P2P trading allows GBP payment with Visa/Mastercard, ApplePay and Google Pay

• Great reputation for supporting hot new crypto ICOs

• $100 Voucher new joiner offer

• 0.2% max fees

Cons

• Cannot withdraw fiat - crypto only

5. Coinbase: UK Bitcoin Exchange with Great Security and Useability

Founded in California, US in 2012, Coinbase has attracted over 100 million customers during its decade in business.

This UK bitcoin exchange set the bar for secure trading by being amongst the first of the UK Bitcoin trading platforms to store 99% of its crypto in ‘cold’ storage - ie. offline, and immune to hacker threats. Other platforms have followed suit over recent years.

Coinbase has not garnered such a great reputation for its two-factor fee schedule, which charges a fixed fee depending on the size of the trade and then a commission based on the payment method. Beware of the 3.99% levy on credit card purchases.

For users who want to trade on the move, Coinbase has a solid offering. The Coinbase app has received good reviews from a huge user-base, scoring 4.1/5 on Google Play (742k reviews) and 4.7/5 on Apple’s App Store (1.68m reviews).

Pros

• Long-standing reputation for high security

• Up to 5% APY available with crypto staking

• Great learning tools - with free crypto on offer for completing modules

Cons

• Two-fold fee structure can be expensive

6. Bitstamp: Simple Trading With One of the Best Crypto Exchanges in the UK

Next on our list of best crypto exchanges in the UK is Bitstamp. Launched in 2011, Luxembourg-based Bitstamp is something of a boutique exchange. With a manageable offering of 81 crypto, it - like eToro - focuses on crypto quality rather than quantity. The feel of the platform is accessible and straightforward.

Bitstamp’s maker/taker fee schedule is not quite as cheap as that offered by Gate (max 0.2%) and Binance (0.1%). But, for beginners who might feel lost in the larger exchanges, this might be a small price to pay. Watch out, though, for the 5% surcharge on credit card deposits.

When it comes to security, Bitstamp keeps 95% of client assets in cold storage - which is reassuring.

One minor downside is that Bitstamp does not provide a crypto wallet. It does, though, offer a trading app. On Apple’s App Store, the latter has scored particularly well with 4.7/5 from over 5k reviews.

Pros

• In business since 2011

• Has office in UK

• Customer service available via phone

Cons

• Hefty 5% levy on credit card deposits

7. Huobi: UK Cryptocurrency Exchange Offering 500+ Coins

In operation since 2013, Huobi is based out in Singapore - but welcomes UK crypto investors, making it a leading UK cryptocurrency exchange. With 500+ coins on offer, this is definitely an option for the investor looking to spread their crypto net wide.

Every 24 hours sees over $4 billion of crypto traded with Houbi. So we may certainly be assured that this is a robust enterprise.

Huobi is proud of its security record, which has seen zero incidents in 9 years. The platform maintains 20,000 $BTC as a security reserve fund to compensate investors if a hack is ever successful.

Investors can buy crypto with credit card, but information on commissions is hard to come by. The minimum trade of 10 EUR is convenient. Overall, this is a popular exchange suitable to more ambitious crypto investors.

Pros

• 500+ crypto on offer

• Trading discounts available for holders of in-house crypto $HT

• Many ways to trade and many crypto finance options

Cons

• Non-trading fees not transparent

8. Kraken: One of the Best Crypto Exchanges UK for Security

Based in San Francisco, California and launched in 2013, Kraken has developed a reputation for high security and a solid user experience. UK users are welcome.

With a 24hr trading volume of $883 million, Kraken is ranked third best crypto exchange in the world by Coinmarketcap.com. Kraken has reportedly never been hacked.

185+ coins are on offer, alongside a good suite of crypto staking options - ranging from 3-6% APY rewards for $ADA to up to 20% APY on $MINA.

Overall, this UK crypto exchange has a reported 4 million active users. A standout feature is security. The platform works regularly with an external auditor to guarantee proof of reserves. Cold storage is in place, and ISO 27001 certification. Users can expect 2-factor authentication as standard when logging in too.

Pros

• High security

• Kraken Pro for advanced traders

• Extensive crypto staking options

Cons

• Some users report long waiting times for deposits, withdrawal and customer support

9. Gemini: One of the Best Crypto Exchanges for Beginners

Launched in 2014 by the Winklevoss brothers, the Gemini exchange is based in the US but accessible to UK crypto enthusiasts. A sensible range of 100 cryptos is on offer. The sliding fee structure is transparent. But, compared to other leading UK crypto exchanges, it is expensive.

• For trades less than $7.50, a fee of $0.75 applies.

• Between $7.50 and £20.00, the fee is £1.25.

• Between £20.00 and £50.00, the fee is £2.00.

• Between £50.00 and £150.00, the fee is £2.25.

Gemini sets a minimum trade of $10 (£8) which is convenient. The range of payment methods for GB customers is strong, with CHAPS, BACS and SWIFT available - as well as credit card accepted for instant buys.

Pros

• Large user base

• ActiveTrader advanced platform available

• Clear fee system for GBP

Cons

• 3.49% debit card deposit fee

10. OKX: Global Exchange with 20 Million Users Accepts GBP

Still looking for the most popular UK crypto exchange? Launched in 2017 and currently headquartered in the Seychelles, OKX boasts a 24hr spot trading volume of almost $3 billion.

UK customers can buy a range of 350+ crypto using credit card with GBP accepted.

There’s a whole host of staking, saving and DeFi offerings - similar to the broad selection offered by Gate.io and Binance.

Like Binance too, OKX runs its own ‘OKX Risk Shield’ in-house insurance. This means that, in the unlikely event of a hack, funds are available to reimburse investors.

OKX scores highest when it comes to smartphone apps. Its free trading app is rated 4.4/5 on Google Play from 268k reviews, and an even higher 4.8/5 from 2.2k reviews for the Apple version on the App Store.

Pros

• 350+ coins

• 20 million global users

• Highly-rated smartphone app

Cons

• Chatbot customer service only

How We Picked the Top UK Crypto Trading Platforms

We have looked at several key variables common to most UK Bitcoin trading platforms.

1. Regulation

Crypto investing is legal in the UK, but crypto assets are not regulated. This means that if a crypto suddenly folds or stops working, there is nothing the UK investor can do about it.

In fact, only two UK crypto exchanges in our list are regulated by the formidable Financial Conduct Authority (FCA): eToro and Crypto.com. No regulation is foolproof, but this FCA oversight is reassuring. It means that investors can be sure that these exchanges are running their affairs in a professional manner.

So when looking for the best crypto exchanges UK, we recommend sticking with FCA-regulated platforms like eToro to ensure the highest levels of security.

2. Number of Cryptos Available

Investors may assume that the more crypto a UK Bitcoin exchange has, the better. Gate.io tops our list in this respect with 1,400+ coins on offer. This giant selection is great for more advanced investors, particularly those who are pursuing a strategy involving obscure tokens. But, for the beginner, less is often more.

eToro offers a very manageable selection of 78 coins. For novice-to-intermediate investors, this is more than enough to implement a diversified crypto strategy without getting overwhelmed by too much choice. As the best UK crypto exchange, it allows you to easily and instantly invest in all these coins, securely store them on the platform, and sell whenever you wish.

3. Fees

UK crypto exchange fees generally can be divided into trading fees and non-trading fees (charges for deposits, withdrawals, inactivity and other actions).

Trading Fees

Many UK crypto trading platforms run a maker/taker system for crypto transactions. This is a sliding scale based on bands. The commission for a particular trade is based on how much trading the user has done in the last 30 days: the more activity, the lower the fee.

These maker/taker systems can be very confusing. For beginner investors in particular, we welcome the simplicity of a fixed commission which applies to every trade, regardless of 30-day trading activity, the size of the trade, or anything else.

In this regard, eToro’s beginner-friendly approach stands out, with the platform charging a simple 1% commission on every trade.

Non-Trading Fees

Some UK Bitcoin trading platforms charge for depositing fiat. Again, it is eToro that sets a good example here, charging no deposit fee at all for GBP. However, a conversion fee does apply with GBP of 150 pips. This applies because all eToro accounts run on USD. eToro also charges a $5 flat fee for all withdrawals - so it is best to withdraw funds in big lumps to minimize the effect of this levy.

Inactivity fees vary across the best Bitcoin exchanges in the UK. These take the form of a monthly levy that applies if the trader does not do any trading after a certain period has elapsed.

Generally, exchanges often do not advertise their inactivity fees. But eToro certainly is usefully up-front in declaring that, ‘After 12 months with no login activity, a $10 monthly inactivity fee will be charged on any remaining available balance.’

4. Payment Methods

Many of the best crypto exchanges for beginners - like Gate.io, Binance, Coinbase and Crypto.com - allow ‘instant buy’ trading with credit card. This involves buying the crypto instantly without putting fiat money into the platform’s account. This is often an expensive way of buying crypto because hefty commissions apply.

However, eToro offers a simpler way of buying crypto that avoids such commissions. Users buy crypto using their account balance, which can be loaded via the UK’s Faster Payment system, Neteller, Skrill or credit card. The credit card commission charged in this instance is only 150 pips. This compares very favourably to the rest of the market; Bitstamp, for example, levies 5% on credit card deposits and CoinBase 3.49%.

Many traders also want to buy crypto with PayPal, but only a few platforms (like eToro) offer this easy and fast deposit option.

5. Charting Tools

Charting tools are used in crypto trading to spot patterns on price charts. The best Bitcoin exchanges in the UK offer a myriad of useful charting tools.

For advanced traders, charting tools are a must. And, even for a beginner, there is useful information to be gleaned from opening a price chart and applying some simple tools.

For example, we can see below a screenshot of the price chart for Bitcoin - with eToro’s available tools in the dialogue box in the centre. There is a wealth of choice here.

Selecting one of the tools will overlay certain useful information on the chart.

For example, the screenshot below shows the ‘Moving Average’ of Bitcoin’s price with a red line. In the example below, we can see that Bitcoin has been relatively cheap since the beginning of 2022 - because its price line is below the red moving average line.

On top of charting, eToro is the only UK crypto exchange that offers copy trading. This is perfect for beginners, as you can instantly copy the portfolios of seasoned investors who have proven track records of making profitable crypto trades.

Conclusion

Theoretically, it is each individual investor who decides what is the best crypto exchange in the UK. Different investors are, after all, looking for different things.

But the market for UK crypto trading platforms has matured considerably. The top platforms like eToro, Crypto.com and Binance have made it their business to offer value to everyone. Nowadays, the best crypto exchanges for beginners are also the best providers for more experienced traders.

Thanks to its no-hassle UK banking, fantastic trading tools, FCA regulation, and low 1% commission on crypto trades, we have no hesitation in rating eToro as the best crypto trading platform UK.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

FAQs

Which crypto exchanges can you use in the UK?

There are many crypto exchanges available in the UK, although only a few, such as eToro and Crypto.com, are licensed by the FCA.

Which crypto exchange is best UK?

We rank eToro as the best UK crypto exchange due to its FCA regulation, low fees, innovative trading tools, and easy UK banking.

Is Binance or Coinbase better UK?

There’s little to separate Binance and Coinbase, but for UK investors, we recommend FCA-regulated eToro as the best and most secure Bitcoin exchange.

What is the most reliable crypto exchange?

Due to its FCA license and top notch security, eToro is certainly the most reliable crypto exchange in the UK.

Contact Details

Finance News

Alex Brown

alex@financenews.com

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