6 Best UK Crypto Exchanges 2023 List

Once a buyer has picked an exchange and a wallet, they’ll be able to buy crypto by transferring money into their account. Discover the differences between KuCoin and Coinbase, so you can make informed cryptocurrency investment decisions. In fact, cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are legal to buy, hold and sell in the UK.

To transact on a Bitcoin exchange, you have to register with the exchange and get your identity verified. At one point in 2021, Bitcoin hit its all-time highest value, $69,000 (over £50,000), and if the bull market continues Bitcoin could re-test that benchmark again. Not surprisingly, the founder of Bitcoin holds the largest number of bitcoins. The servers of decentralized exchanges are spread on different locations which makes it harder for someone to attack all servers at once and cause any significant damage.

With a wide array of assets like Bitcoin and Ethereum, Binance facilitates quick and secure transactions via its user-friendly interface. We like Binance for its unmatched variety of cryptocurrencies and competitive trading fees, making it a compelling choice for traders who appreciate diverse options and cost-efficiency. The fact that it has the most altcoins on its platform demonstrates its dominance among crypto exchanges. Binance uses a volume-based pricing system and all of its users can access MetaTrader 4 software.

UK Crypto Exchange Fees

For instance, the eToro platform has high-level safety measures to ensure the maximum protection of your cryptocurrencies. Although it has only been around for a few years, Bybit has grown exponentially in that time and now has over 3 million registered users. Bybit is based in Singapore and offers a myriad of markets to trade on, including the spot market and various derivatives markets. Notably, users can trade ‘inverse perpetual futures’, which provides exposure to the future value of specific trading pairs – with the option to use leverage too. Like other exchanges, Crypto.com allows you to buy instantly on the app or use the exchange.

Uphold‘s simple user interface and wide range of supported assets make it a top choice for those seeking simplicity in their trading experience. The platform supports both cryptocurrency and traditional financial products, making it a versatile choice for diverse investors. Uphold excels in offering a simplified trading experience for cryptocurrency investors. The platform supports a variety of cryptocurrencies, traditional currencies, and even commodities, making it a diverse trading platform.

KuCoin is a global digital exchange offering its users a wide range of trading types and features. It offers margin trading, allowing users to borrow funds to increase their trading position. And futures trading will enable users to trade perpetual and quarterly futures contracts with up to 100x leverage. As such, any FCA-regulated broker or exchange that you use will not offer you these products. On the flip side, there are dozens of cryptocurrency exchanges that still offer leverage crypto assets to UK residents.

  • However, we decided to include two international exchanges that offer great trading options for UK residents too.
  • You can check the platform’s proof of reserves data at Coinmarketcap or Defillama.
  • Furthermore, a stock/forex broker must have a significant amount of capital to even trade, such as $25k, in order for them to supply you with their services.
  • Their main incentive to create their own exchange was to challenge the belief that crypto trading is for technophiles only.
  • However, OKX did include an OKX risk shield to keep a reserve, which contains a portion of the user’s assets as insurance in case of a hacking event.

It’s co-founded by Asher Tan and Ryan Zhou and headquartered in London (with offices in Australia too). Our team unanimously agrees that CoinJar is the best exchange for both new and experienced crypto enthusiasts in the UK. A regulated exchange adheres to stringent rules and regulations, ensuring consumer protection and the overall safety of your funds. Looking forward to 2024, UK crypto users should check for updates regarding Binance’s ongoing status in the country.

What is the safest crypto exchange in the UK overall?

Keep in mind that these picks are suggestions and that the exchange that is best for you will depend on your individual needs. Keep in mind that these are suggestions and that the exchange that is best for you will depend on your individual needs. Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to https://www.xcritical.com/ be high risk. You should always check with the product provider to ensure that information provided is the most up to date. A good user interface is easy to navigate, and users must be able to find the information they need quickly. Check the exchange’s reputation online by looking at reviews from other users and checking forums like Reddit.

Best Crypto Exchange UK in 2023

The best exchange or platform for one person might not necessarily be the right choice for someone else, so it’s essential to do your own research. You can start building a cryptocurrency portfolio today from 200+ supported coins. Kraken is popular with over 9 million users, which makes it one of the world’s largest exchanges.

What are the fees associated with using a UK Crypto trading platform?

Unless you wish to withdraw more than 2 BTC each day, which is more than most traders require, you do not need to submit a copy of your license or passport for identity verification. As a result, if you want to buy $100 in Bitcoin with your debit card, you’ll have to pay $1.49. Overall, Coinbase is a good choice for anyone looking best crypto exchange uk for a decent Bitcoin exchange. EToro provides you with a premium feature called Smart Portfolios, which gives you ready-made investment portfolios based on a specific theme-based strategy. If you are hunting for the best UK Bitcoin exchange for starting your crypto journey, then you are definitely at the right place.

In a lot of cases, we found that UK crypto exchanges can charge handsomely when using a debit card. This is because of the perceived risk involved when facilitating cryptocurrency-related transactions. If you’re looking to starting buying and selling digital currencies right now, below you will find the best crypto exchanges in the UK. Similarly to Binance and OKX, KuCoin provides many different products for crypto traders beyond just the basic spot trading functionality. KuCoin also offers cryptocurrency futures, although you have to keep in mind that crypto futures are not allowed in the UK so you might not be able to access them. For my money — or maybe I should say crypto — eToro is the best crypto exchange in the UK.

But for overall features and trading tools, Kraken blows everyone out of the water. Be careful when picking a crypto exchange as some provide wallets that do not let the buyer transfer their coins off of the platform. A buyer would have to sell and rebuy their coins, which might have tax implications. However, some regulations govern the use and trading of cryptocurrencies, such as anti-money laundering laws, tax obligations, and FCA regulations on the operation of cryptocurrency exchanges. The fees related to using a crypto exchange are trading, deposit, withdrawal, and network fees.

Best Crypto Exchange UK in 2023

Otherwise, the primary distinction is between a centralized (traditional) exchange and a decentralized (peer to peer) crypto exchange. Another breakthrough happened in 2011, with the launch of another cryptocurrency called Ethereum. It was shown that blockchain technology can be used for more than just electronic payments.

Before we dive into the list of the best UK-regulated crypto exchanges, it’s important to understand what a cryptocurrency exchange is and how it operates. Gate.io is a leading choice for traders looking to invest in low-market-cap altcoins. Furthermore, with a vast selection of cryptocurrencies, Gate.io provides traders with the opportunity to diversify their portfolios and potentially earn high returns. Furthermore, Bitget is an affordable option for traders in the UK, offering competitive fees and a wide range of trading options.

Regardless of whether you’re looking for a platform to make a one-time investment in crypto or if you’re trying to trade actively, there’s an exchange on the market that will suit your needs. Hopefully, our article provided a good overview of the best crypto exchanges for UK investors. Bybit has listed over 100 cryptocurrencies and supports over 300 crypto trading pairs. Also, it supports both spot trading and margin trading with up to 10x leverage. This beginner-friendly Bitcoin exchange in the UK allows users to buy crypto with just one click.

To further reduce risk I use one registered locally so it’s subject to local laws and regulations. There are plenty of places to buy crypto, including platforms founded here in the UK or based in locations all around the world. Exchanges headquartered locally are required to register with the FCA and comply with requirements that don’t apply to global platforms. Crypto.com has one of the largest lists of cryptocurrencies available to Brits.

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