The Best Crypto Exchanges for UK Traders?

by Apr 20, 2023DEX/CEX0 comments

Cryptocurrency has grown in popularity recently, and more people are getting involved in the market. One of the first steps to getting involved in cryptocurrency is choosing a cryptocurrency exchange. This is where you can buy, sell, and trade different cryptocurrencies. In this article, we’ll be discussing the best Crypto Exchanges in the UK.

5 Factors To Consider When Choosing a Crypto Exchange

Before diving into the list, it’s important to understand what factors make a good crypto exchange. These include security, user-friendliness, fees, customer support, and available cryptocurrencies. Let’s explore these factors in more detail.

Crypto Exchange

Security

Security is a critical factor when it comes to choosing a cryptocurrency exchange. Since cryptocurrencies are decentralized, they are not regulated by a central authority. This means that blockchain security measures are left up to individual exchanges. A good crypto exchange should have top-notch security measures to protect user assets.

User-friendliness

A good crypto exchange should be user-friendly and easy to navigate. The platform should have an intuitive interface, making it easy for beginners to use. The exchange should also offer a range of trading tools to cater to more experienced traders.

Fees

Fees are another important factor to consider when choosing a crypto exchange. Exchanges usually charge fees for transactions, and these can add up quickly. A good exchange should offer competitive fees that are transparent and easy to understand.

Customer Support

Customer support is crucial when it comes to any online platform. A good crypto exchange should offer excellent customer support to its users. This can include 24/7 support, a detailed FAQ section, and responsive email support.

Available Cryptocurrencies

Finally, a good crypto exchange should offer users a wide range of cryptocurrencies to trade. The exchange should have diverse cryptocurrencies, including the most popular ones, such as Bitcoin and Ethereum.

The Best UK Crypto Exchanges

With these factors in mind, let’s look at the best UK crypto exchanges.

Binance UK

Binance UK

Binance is one of the most popular cryptocurrency exchanges in the world, and it has recently launched Binance UK. Binance UK is a great choice for UK users looking for a user-friendly platform with a wide range of cryptocurrencies. The exchange offers over 150 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. Binance UK also offers competitive fees, with a 0.1% trading fee and a 2% fee for buying cryptocurrency with a debit or credit card.

Regarding security, Binance UK has a range of measures in place to protect user assets. The exchange uses two-factor authentication and a range of other security measures, such as IP whitelisting and anti-phishing codes. Binance UK also has excellent customer support, with a detailed FAQ section and responsive email support.

Coinbase UK

Coinbase UK

Coinbase is another popular cryptocurrency exchange with a dedicated UK platform called Coinbase UK. Coinbase UK is a great choice for beginners looking for a user-friendly platform with a simple interface. The exchange offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

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In terms of fees, Coinbase UK charges a 1.49% trading fee for buying and selling cryptocurrencies. The exchange also charges a fee for buying cryptocurrency with a debit or credit card, around 3.99%. Coinbase UK has a range of security measures in place, including two-factor authentication and SSL encryption. The exchange also offers excellent customer support, with a detailed FAQ section and responsive email support.

Kraken

Kraken

Kraken is a popular US-based cryptocurrency exchange but also has a platform for UK users. Kraken is a great choice for more experienced traders, with various advanced trading tools available. The exchange offers many cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

Kraken’s fees are also competitive, with an a0.16% maker fee and a 0.26% taker fee. The exchange also offers fee discounts for high-volume traders. Kraken has a range of security measures in place, including two-factor authentication and SSL encryption. The exchange also offers excellent customer support, with a detailed FAQ section and responsive email support.

Bitstamp

Bitstamp

Bitstamp is another popular cryptocurrency exchange that is available to UK users. Bitstamp is a good choice for traders seeking a simple and easy-to-use platform. The exchange offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

Bitstamp’s fees are also competitive, with a 0.5% trading fee for buying and selling cryptocurrencies. The exchange also charges a fee for buying cryptocurrency with a debit or credit card, around 5%. Bitstamp has a range of security measures in place, including two-factor authentication and SSL encryption. The exchange also offers excellent customer support, with a detailed FAQ section and responsive email support.

CoinJar

CoinJar

CoinJar is a UK-based cryptocurrency exchange that is a great choice for beginners. The platform is user-friendly and easy to navigate, making it a good choice for those new to cryptocurrency trading. CoinJar offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

CoinJar’s fees are also competitive, with a 1% trading fee for buying and selling cryptocurrencies. The exchange also charges a fee for buying cryptocurrency with a debit or credit card, around 1.5%. CoinJar has a range of security measures in place, including two-factor authentication and SSL encryption. The exchange also offers excellent customer support, with a detailed FAQ section and responsive email support.

Gemini

Gemini

Gemini is a US-based cryptocurrency exchange that recently expanded to the UK market. The exchange was founded by the Winklevoss twins, well-known for their involvement in early Bitcoin investments. Gemini offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Zcash.

Gemini’s fees are relatively low, with a 0.35% trading fee for buying and selling cryptocurrencies. The exchange also charges a fee for buying cryptocurrency with a debit or credit card, around 3.49%. Gemini has a range of security measures in place, including two-factor authentication and SSL encryption. The exchange also offers insurance coverage for users’ funds.

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One of the unique features of Gemini is its marketplace, which allows users to buy and sell non-fungible tokens (NFTs). NFTs are unique digital assets that can represent various things, such as artwork, music, or virtual real estate.

Overall, Gemini is a good choice for UK traders looking for a secure and reliable cryptocurrency exchange that offers a range of cryptocurrencies and NFTs. However, it’s important to note that Gemini is a relatively new player in the UK market. As such, it may not have the same user base and liquidity level as some of the more established UK exchanges.

YouHodler

YouHodler

YouHodler is a cryptocurrency lending platform that also offers a cryptocurrency exchange. The exchange is available to users in the UK and offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

One of the unique features of YouHodler is its “Turbocharge” option, which allows users to take out a loan against their cryptocurrency holdings to make trades. This can be useful for traders who want to take advantage of market opportunities but don’t want to sell their cryptocurrency holdings.

YouHodler’s fees are competitive, with a 0.2% trading fee for buying and selling cryptocurrencies. The exchange also charges a fee for withdrawing funds, which can vary depending on the withdrawn cryptocurrency.

Regarding security, YouHodler has a range of measures in place, including two-factor authentication and SSL encryption. The exchange also offers insurance coverage for users’ funds.

OKx

OKx

OKx is a global cryptocurrency exchange that is available to users in the UK. The exchange offers many cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

OKx’s fees are competitive, with a 0.1% trading fee for buying and selling cryptocurrencies. The exchange also offers a range of trading options, including spot trading, margin trading, and futures trading.

Regarding security, OKx has a range of measures in place, including two-factor authentication and SSL encryption. The exchange also offers insurance coverage for users’ funds.

One of the unique features of OKx is its “OKB” token, which can be used to pay for trading fees and other services on the platform. OKB holders also receive various benefits, such as fee discounts and access to exclusive events and promotions.

eToro

eToro

eToro is a social trading platform that offers a cryptocurrency exchange. The exchange is available to users in the UK and offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

One of the unique features of eToro is its social trading aspect, which allows users to follow and copy the trades of other traders on the platform. This can be a useful feature for beginners who are looking to learn from more experienced traders.

eToro’s fees are competitive, with a 0.75% trading fee for buying and selling cryptocurrencies. The exchange also charges a fee for withdrawing funds, which can vary depending on the withdrawal method.

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Regarding security, eToro has a range of measures in place, including two-factor authentication and SSL encryption. The exchange also offers insurance coverage for users’ funds.

Overall, eToro is a good choice for UK traders interested in cryptocurrency and social trading. However, it’s important to note that eToro is a relatively new player in the cryptocurrency exchange space and may not have the same user base and liquidity as some of the more established best Crypto Exchanges in the UK.

FAQ

What is the cheapest and best Crypto Exchanges in the UK?

Gemini is a cryptocurrency exchange registered with the Financial Conduct Authority (FCA) in the UK. The fees for trading on Gemini depend on whether you are a maker or taker and the size of your portfolio. For makers, the fees range from 0.25% to 0.00%, while for takers, the fees range from 0.35% to 0.03%. Gemini does not charge withdrawal or foreign exchange (FX) fees. However, it is important to note that these fees only apply to trades made through the ActiveTrader interface. If you use Gemini’s mobile or web apps to trade, the fees range from £0.75 to 1.49%, depending on the value of your portfolio, which is more expensive than eToro, Uphold, and CoinJar. Suppose you primarily trade on your mobile phone. In that case, Uphold is the cheapest FCA-registered cryptocurrency exchange in the UK for mobile app trades before considering FX and withdrawal fees.

Which crypto platforms are legal in the UK?

In the UK, digital assets are currently unregulated, meaning that most cryptocurrency platforms are legal. However, selecting an exchange that is authorized and regulated by the Financial Conduct Authority (FCA), like eToro, is recommended to ensure compliance with regulatory requirements and protect your investments.

What is the most reputable crypto exchange?

eToro and Coinbase are two of the most trustworthy cryptocurrency exchanges permitted to offer services to clients in the UK. Of the two, eToro is the more favorable choice due to its significantly lower fees when compared to Coinbase.

Conclusion

Choosing thebest Crypto Exchanges in the UK depends on your preferences and trading style. Binance UK is a great choice for those looking for a wide range of cryptocurrencies and competitive fees. Coinbase UK is a good option for beginners looking for a simple, user-friendly platform. Kraken is a good choice for more experienced traders looking for advanced trading tools. Bitstamp is a good option for those looking for a simple and easy-to-use platform. CoinJar is a great choice for beginners who want a user-friendly platform with low fees.

No matter which exchanges you choose, it’s important to always do your research and never invest more than you can afford to lose. With the right exchange and a good understanding of the cryptocurrency market, you can begin to take advantage of the opportunities that cryptocurrency trading has to offer. 

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