10 Best Cryptocurrency Exchanges in the UK (2021)

10 Best Crypto Exchanges In The UK: 2021

What's in this guide?

Success in trading by 50% depends on the correct choice of the platform for transactions. Based on the analysis of various platforms and feedback from traders and investors on independent resources, we have identified the simplest, most functional, profitable and safe of them. This review will help you choose the best cryptocurrency exchange for any of your tasks.

Best Cryptocurrency Exchanges in the UK

eToro

eToro is the crypto exchange in the UK that makes it possible to trade stocks without commission, and opening an account is hassle-free and very fast. In addition, here you have the opportunity to copy the strategies of other traders, and be successful, especially if you are a beginner, and do not yet understand how this business works and where to start. However, eToro charges inactivity and withdrawal fees to motivate you to move actively and smoothly in the market.

The exchange is available in 140 countries and has a record number of users: 13 million people. You can safely trust it, because the platform has been open since 2007, and during this time has earned a reputation as a reliable, stable and secure crypto asset management company.

Only a sufficiently high initial deposit can make one hesitant about joining the exchange, but otherwise eToro leaves a pleasant impression from each type of interaction with the platform.

Crypto Assets: 16

Fees: Spread only

The Pros

The Cons

  • You will love eToro if you are looking for a quick and hassle-free crypto wallet UK opening.
  • There are very low trading fees here.
  • There is an opportunity to receive a reward from the system if your investment strategy is copied.
  • To start a UK bitcoin wallet, you need a minimum deposit of $2,000.
  • High commissions for non-trading operations.
  • There are problems with customer support.
  • Only one base currency of the account can be used.

A good fit for:

With a simple interface and a tool to copy other investors' strategies, this cryptocurrency exchange in the UK is the best for novice traders. In addition, the platform offers a tool for opening a demo account for 10 thousand dollars, so that beginners can practice using virtual funds, get acquainted with the broker itself and all the capabilities and functions of the platform empirically, and without risking real money.

Experienced traders can feel cramped within the eToro platform and end up wanting more functionality. So, for example, professionals do not have enough hedging and scalping on the platform for daily trading – these options are prohibited in the system.

Binance

Binance is one of the best UK based crypto exchanges with the widest range of crypto assets. At the moment, the exchange does not accept payments from cards and accounts in the UK, but the platform promises to solve this problem in the near future.

In the meantime, this is a platform that really helps investors and traders enter the market and form a successful strategy. Binance provides leveraged tokens, providing customers with access to crypto assets with high liquidity and minimizing risks with a clear opportunity to significantly increase profits. The platform not only functions as a standard exchange, but also provides access to products such as futures contracts with margin in USD or coins.

The main functions of the platform:

  • Classic cryptocurrency trading and exchange.
  • Cross-collateral (outpost in the form of one cryptocurrency to borrow another type of cryptocurrency).
  • Leaderboard, where you can view the positions of leading traders.
  • Battles of traders are a game between platform participants for the title of the most profitable trader in a certain period. Gamification not only makes trading successful, but also adds excitement and motivation to the process.

Crypto Assets: 200+

Fees: 0.1%

The Pros

The Cons

  • Binance is a UK based cryptocurrency exchange with support for over 50 types of cryptocurrencies, including rare ones.
  • The clients of the system are offered some of the lowest commissions on the market.
  • A huge number of additional services expands opportunities for earning.
  • You can buy bitcoin in gbp, but the service will remain unavailable to you if you work from the USA.
  • Available payment methods from the UK are expected to connect.
  • The corporate structure of the platform is less transparent compared to other platforms.

A good fit for:

Binance is suitable for anyone who has decided to buy bitcoin with gbp with minimal fees and a convenient payment method. A wide selection of cryptocurrency pairs and the availability of additional services provide ample opportunities for traders. 

The service cares about its reputation and reliability, protecting customer data and supporting them at all stages of registration or using the platform, so we can safely recommend Binance to investors with any level of training proficiency. 

Paxful

Paxful is a peer-to-peer bitcoin exchange gbp with virtually unlimited payment methods and excellent rates for buying cryptocurrencies. The main focus of the exchange is on the formation of the seller's reputation, which makes it possible to select a reliable trader and view their history before proceeding with the transaction. 

The intuitive interface is another important advantage that attracts customers, especially beginners. A significant difference between Paxful is a well-functioning system of trading through a mobile application, since the exchange operates in those parts of the world where banking services do not work properly. 

A multi-level loyalty program forms a close community of exchange participants and provides numerous advantages to regular customers of the system.

Fees:

1.00% per trade,

Trading for buyers is free of charge

Withdrawal fees: fixed at 0.0005 BTC 

The Pros

The Cons

  • Paxful – UK bitcoin exchanges where you can order instant bitcoin purchases.
  • Trading takes place in real time with live chat support and Bitmart integration.
  • Fraud risks are minimized thanks to ID and biometric verification
  • A fixed amount of commission for sales and purchases. More than 300 payment methods are connected. The affiliate program offers even more bonuses to system participants.
  • A mobile wallet application is available for exchange users.
  • If you have previously only used centralized exchanges, you may have some questions about how to buy cryptocurrency in the UK, since it is a peer-to-peer exchange where partners negotiate the terms of the deal on their own.
  • The exchange has low diversification outside the African market.
  • There is no phone support available.
  • Recently, users have complained about restricting access to their accounts for unknown reasons.

A good fit for:

The Paxful exchange is ideal for those who prefer face-to-face trading. To do this, it implements the completion of the sale via chat. At the same time, this bitcoin exchange in the UK generates ratings of sellers and buyers based on the results of the completion of each transaction. By managing the reputation, the seller can get more benefits and drive higher pricing on the platform. To avoid fraud and minimize risk, Paxful has implemented biometric customer identification.

Kraken

Kraken is a trading terminal and the best cryptocurrency broker in the UK. Here you can track price movements for free and set up price change alerts. The exchange has 56 types of cryptocurrencies available for trading. 95% of assets are held in cold wallets. The high degree of security of the platform attracts investors who have large amounts of money to conclude profitable, fast and reliable transactions.

With the mobile app for Android or iOS you can manage your NiceHash account - e.g. check your mining status, deposit or withdraw cryptocurrency, manage orders, get notifications about any actions happening on the platform, etc.

Crypto Assets: 56

Fees:

0% to 0.26% per trade,

3.75% + €0.25 for credit card purchases, 

1.7% + $0.10 for online banking processing

The Pros

The Cons

  • Kraken is a UK based bitcoin exchange that allows you to exchange up to 60 crypto assets.
  • The exchange is ideal for beginners, thanks to the ability to open a minimum account (from 0.0001 Bitcoin).
  • All transactions are accompanied by minimal fees.
  • This exchange allows you to trade with high margins and generate additional purchasing power.
  • The platform is ready to provide support in account management, and even the ability to carry out over-the-counter transactions (OTC).
  • Despite the fact that Kraken is one of the best cryptocurrency exchanges in the UK, it is scolded for having too wide a range of products, in which it is easy for a beginner to get lost.
  • There is a withdrawal fee and an instant purchase fee.
  • Insufficient choice of training materials for beginners to start trading.

A good fit for:

When you are looking for the most convenient trading platforms UK options, the Kraken is worth looking into. The platform stores 95% of user deposits in offline (cold) wallets, guaranteeing the safety of funds and personal data of the client. At the same time, the exchange provides its corporate wallet for active trading, which gives even more security for the client's funds. In view of this, Kraken is the most suitable exchange for those who value security in matters of cryptocurrency trading or storage.

CEX.IO

The CEX.IO platform was one of the first to allow clients to buy cryptocurrency in the UK for fiat currency. At the moment, the trading platform is designed for individual traders who have access to margin trading, staking rewards and other bonuses, and also presents the CEX.IO Prime platform for solving business problems. The platform already unites more than 4 million users from all over the world.

Crypto Assets: 31

Fees:

Maker: 0-0.16%

Taker: 0.10-0.25%

The Pros

The Cons

  • CEX.IO is the best place to buy bitcoin thanks to its ultra-low transaction fees.
  • The service has over 80 types of crypto assets, including rare ones.
  • There is a mobile application.
  • Round-the-clock support service, instant solution of any issues related to working with the exchange or access to personal accounts.
  • The possibility of margin trading and the provision of loans to individuals.
  • If the rating were built solely on the options available for trading coins, then CEX.IO cannot be ranked as the best crypto exchanges due to the fact that there are still more tokens in the system than options for cryptocurrencies.
  • So far, there are some restrictions on access to the service and features such as margin trading or currency savings for residents of Virginia and New York.

A good fit for:

CEX.IO is the best bitcoin trading platform in the UK for those investors and traders that are focused on tokens. The system will also appeal to businesses and individual traders interested in margin trading, cryptocurrency loans and staking. The audience of CEX.IO users is expanding due to the fact that the exchange quickly corrects errors and shortcomings, and regularly adds new useful options and useful products that are suitable for a wide range of clients

BitPanda

Bitpanda is a leading fintech company among the best bitcoin exchanges. It has been operating since 2014, and is the platform that has not only stood the test of time, but also provided investors with solutions to many of the challenges and problems they face. Bitpanda specializes in cryptocurrency trading, but recently expanded to include precious metals trading. Today, the exchange unites more than 900 thousand clients, including both novice investors and advanced trading masters.

Fees:

up to 0.05%

The higher client's trading volume, the lower fees are

The Pros

The Cons

  • Bitpanda is a platform that provides a wide range of services and offers many more options than standard cryptocurrency exchanges. So, you can make over-the-counter purchases and form a savings plan.
  • The service offers a flat fee for altcoin exchange in the UK, which allows you to conduct large transactions with minimal loss of funds.
  • A convenient and secure mobile wallet with a full range of functions necessary for trading is provided.
  • All popular payment methods are supported.
  • The customer support service works efficiently.
  • Fees are included in the price and are not specified separately, which is why their transparency is lost.
  • There are no forms of technical support such as live chat or telephone contact.
  • Bitpanda is the best altcoin exchange in the UK, but the platform itself is only available in English or German. There are no platform versions in other languages.
  • The data verification process takes more time compared to competitive platforms, since this process takes place through a video call to the client.

A good fit for:

Bitcoin exchange comparison shows that despite the complexity of registering on the platform, it is a great fit for both beginners and advanced investors. The site is divided into two versions: for personal use or Bitpanda Pro for business and access to advanced functionality and those tools used by trading masters (for example, connection trading bots to Bitpanda API).

Gate.io

Gate.io aims to become the best cryptocurrency exchange in the UK and offers the opportunity to work with 300 markets and more than 200 types of cryptocurrency. The exchange is a universal place for buying, selling or exchanging cryptocurrencies; spot and margin trading are the most popular here. 

The platform is also known as one of the most secure peer-to-peer platforms where push transaction functionality is implemented. The system operates under the most transparent conditions, and takes care of the security of clients' personal data. It uses several security protocols at once when working in a desktop or mobile browser and also in a mobile application.

Even before registration, the investor has the opportunity to see the full list of coins that can be traded on the exchange. Take a look at the Coin List menu to make sure there is a currency in the list that you can trade.

For those new to the system, Gate.io has compiled a comprehensive trading guide that explains how to successfully complete their first trades in the system.

Fees:

VIP 0 – 0.2 %

VIP 1 – 0.195 %

VIP 2 – 0.185 %

The Pros

The Cons

  • More than 200 types of cryptocurrency.
  • Low fees and no hidden payments make the platform the best place to buy Bitcoin in the UK.
  • The ability to implement different trading strategies.
  • The highest degree of security among similar exchanges.
  • A fully functional mobile application.
  • Minimum commissions and an attractive system of rewards, discounts and bonuses.
  • Access to educational materials for successful trading.
  • Exchange for Gate.io unregulated.
  • There are restrictions on how to replenish your balance.
  • Technical support responds late due to high workload.
  • Due to the fact that Gate.io is considered the best bitcoin trading platform, it offers so many functions and tools for trading that you can get confused.

A good fit for:

Gate.io is suitable for beginners thanks to its step-by-step instructions for making transactions and the simplicity of the interface. Professionals appreciate Gate.io for the ability to trade in multiple markets, have access to the maximum number of cryptocurrency pairs and a well-thought-out system of bonuses and rewards as part of the loyalty program. The system also attracts those who prefer a high degree of security, which other crypto exchanges cannot guarantee.

Coinmama

Any crypto exchange comparison shows that Coinmama is one of the best exchanges to buy coins manually or to use ready-made packages. Coinmama offers different limits for holders of different account types, depending on what level of verification the client has passed. The first level is offered to unverified accounts, which the user receives immediately after registering on the platform. The more personal information the service receives about the user, the higher its limits become. Such personal data includes scans of identity documents, full address, etc. The more information about the client is provided, the higher his limits for buying coins.

The exchange offers trading all over the world, providing several convenient payment options, instant transactions and much more.

The functionality of the service also includes a cryptocurrency calculator. It will be useful for converting fiat into cryptocurrency. A loyalty program operates on the basis of the platform. It works to reduce fees for those who make the most transactions.

Crypto Assets: 7

Fees: 0.1% – 0.9%

The Pros

The Cons

  • Coinmama is the BTC exchange UK option that provides access to trading 10 different types of cryptocurrencies.
  • There are no commissions for making a cryptocurrency deposit or for withdrawing funds from an account.
  • You can start with any number of coins, there is no minimum threshold to start trading.
  • You can pay for transactions in any convenient way, including credit cards, bank transfers, Western Union, as well as Apple Pay, Google Pay services.
  • All coins are transferred to the buyer's account immediately after payment. This happens almost instantly.
  • All fiat currencies are accepted at Coinmama.
  • It is on this platform that you can make purchases worth up to $50,000 per day (second-tier users) or up to $1 million (third-tier customers).
  • Despite the absence of commissions for withdrawal, the service charges commissions for other transactions, and in some cases they are higher than on other exchanges, for which the Bitcoin exchange rate UK doesn’t put the platform in first place among its kind.
  • Coinmama does not allow transactions between different types of cryptocurrencies. Here you can only buy Ether or Bitcoin, without being able to sell them.
  • The platform does not offer clients a crypto currency wallet, and only works in the desktop version, there is no mobile application yet.
  • Technical support is ready to contact the client by email only. There is no phone communication or online chat to solve important questions or problems faster.

A good fit for:

Coinmama is the cryptocurrency broker UK that you should only contact if you need to buy Bitcoins or Ether at a bargain price and with minimal fees. It is also ideal for large deposit transactions. If you pay with a credit card and make small purchases, the service may seem limited in terms of functionality. Traders usually use Coinmama as an auxiliary tool when it turns out to be really profitable.

Huobi

Huobi is a team of Bitcoin brokers in the UK who also operate in over 130 countries. It is a leading blockchain technology company that successfully integrates blockchain across industries, thereby fueling demand. Even more: today, Huobi is creating an entire digital ecosystem, which, in addition to its traditional activities, also deals with the mining pool.

The daily turnover of funds on the platform is $9 billion. Advanced traders and investors have the opportunity to work with 234 crypto assets, sell, buy or exchange them through the proposed platforms. The hallmark of Huobi is the ability to provide 3x leverage for spot trading and margin trading. This means that the investor can trade for amounts that exceed his personal account balance.

Fees:

Withdrawals – one of the lowest fees on the market.

There is a fee for withdrawing BTC – 0.0001 BTC.

There is no commission for replenishment.

For transactions – 0.2% (with a trading volume of up to 5 million).

For transactions with a trading volume above 5 million: 0.015% from manufacturers, 0.025% from buyers.

The Pros

The Cons

  • Huobi integrates multiple trading platforms.
  • The minimum deposit to start trading on the exchange is only $50.
  • Technical support works 24/7.
  • Huge selection of cryptocurrencies for successful trading and getting maximum benefits.
  • There are many guides and educational courses available to get you started successfully on the Huobi platform.
  • Huobi is an unregulated exchange that operates without third party involvement in transactions.
  • The platform makes it possible to trade exclusively in cryptocurrency.
  • You cannot trade commodities, forex or stocks on Huobi.

Due to Huobi's obsession with blockchain technologies and cryptocurrencies, the exchange is not suitable for full-fledged investing and trading. But it is ideal for those who work with huge amounts of assets and are interested in saving on fees without risking security.

At the same time, the low threshold for entering the exchange, as well as the possibility of margin trading, makes Huobi an excellent starting point for newbies.

Coinlist

According to cryptocurrency exchange reviews, the CoinList platform is one of the simplest solutions for selling tokens. The exchange has passed the KYC and AML compliance process, and all transactions are preliminary checked in the system, which gives the investor a high degree of safety and security of funds. CoinList is one of the systems that are easy to understand, where token trading is available and there is an opportunity to participate in secondary auctions.

This is a relatively young platform that has existed for only 3 years, however, it has already earned a solid reputation in the market and expert opinions in numerous reviews also confirm that she can be trusted. It also deserves a favor from reputable traders and companies. Even projects such as Ocean Protocol and Blockstack are collaborating with CoinList.

Fees: 0.5% per transaction

The Pros

The Cons

  • The ability to receive passive income from your assets (CoinList Lend service). The lender and the borrower remain anonymous, while the lender is entitled to 80% of the interest accrued to the borrower for the use of credit funds.
  • There is a built-in wallet. To unlock some functions, you need to go through the KYC procedure.
  • Static trading fees – 0.5% of each trade.
  • A clear process for selling tokens. The ability to place bets in real time.
  • Participation in secondary auctions.
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Features to Look for When Choosing a UK Exchange

Features to Look for When Choosing a UK Exchange

Your trading style and individual characteristics of the initial situation are in many ways decisive when choosing a platform for working with cryptocurrencies and making money. However, there are several indispensable factors that definitely affect convenience, safety and directly on the ability to earn money. So pay attention to the following points.

User friendliness and trading tools

Are you a beginner or a seasoned investor? Newcomers to trading should not immediately delve into the wide functionality, special features, delve into advanced charts and try to analyze order types. It is advisable to start with simple and understandable tools, the least risky and extremely understandable. And then you can delve deeper into the topic, explore certain possibilities and try yourself in them. But for experienced craftsmen, the "sandbox" is already too small, and they need advanced features, schedules, large amounts of movable assets, etc. For each need there are different exchanges, make sure the one you are looking at is the right one for your financial goals.

Payment methods

Check if you can make a deposit or pay for transactions in ways convenient for you: credit card, PayPal, Google wallets or Apple PayPal Pay. Check what the fees are for each type of payment and if this figure is right for you. 

Type of trading

Exchanges offer one or a combination of several types of trading:

  • Exchange of fiats for cryptocurrency (and vice versa).
  • Exchange of one cryptocurrency for other coins.
  • A combination of possibilities: transferring fiats to cryptocurrency, or converting one cryptocurrency to another.

Decide what type of trading is right for you, and then find a broker who will allow you to implement it.

Cryptocurrency selection

Decide on the type of trading pairs you want to work with and choose an exchange based on those preferences. What is important to pay attention to:

Rare cryptocurrencies. Popular projects like BTC, ETH or XRP are listed on many exchanges. But the rarer ones are listed on a limited number of exchanges, and you should make sure that the one you register on has access to the rare altcoins you need.

Fiat currencies. Make sure that there are no restrictions on the selected service regarding the type of fiat currency that you are going to deposit to pay for coins.

Fees

The estimated and actual profitability may differ significantly due to the presence of commissions for replenishing the balance, withdrawing funds, as well as for making transactions within the system. Calculate how much you will have to pay for a full cycle of operations with currency, and compare exchanges not only in terms of profitability, but also taking into account the real amount that is lost in the process of processing various transactions, as well as possible discounts that are available to system participants.

Limits

Check out the top-up limits, potential daily cryptocurrency exchange, maximum transaction or withdrawal amount. General terms and restrictions may be supplemented by other conditions written in small print, so carefully read the rules for working on the platform. Make sure in advance that the exchange is suitable for the size of the trades you want to work with.

Ease of access

Many people find it more convenient to stay on top of the wave and keep up with the times when there is a mobile application at hand to complete the necessary transactions. The presence of a mobile application greatly simplifies access to accounts and allows you to instantly respond to market fluctuations. For those who are engaged in trading without leaving the computer, platforms that offer clients exclusively desktop trading applications or access through a browser are also suitable.

Loyalty programmes and discounts

Review the terms of the loyalty program. Such programs are available on many crypto-exchanges, but the benefits and bonuses for participants are different. Some platforms make it possible to use tokens as payment for commissions, receive discounts for the volume of transactions or the number of transactions. Platforms often feature multi-tiered bonuses for trading on the exchange, but some spice up these benefits with additional opportunities for the client: a share of the income from the platform's trading commissions, participation in exclusive events and much more, which can make your stay on the exchange even more profitable than you might expect. 

Exchange rates

There is no single official price for Bitcoin. It is formed on the basis of an auction: depending on who is willing to pay for a coin and how much. Therefore, comparing rates on different exchanges gives the investor important information about where to make an effective and successful deal, where the coin is worth selling, and where is the time to buy. And since the difference in the price of Bitcoin on different platforms sometimes reaches 10%, this is the point that is important to study at the very beginning of the journey.

Liquidity

The liquidity of the exchange can be checked against the order books, and this information is available to platform visitors even before registration. The importance of this check is that the higher the liquidity, the faster and easier transactions are made on the platform, due to the large volume of trades and the ease of arranging seller-buyer pairs. Low liquidity in the free queue often leads to fluctuating discounts, and if this tool is used correctly, it can also be useful for an investor. But you definitely need to know about the liquidity of the service in advance.

Account verification process

There are platforms that provide the opportunity for anonymous transactions and the safety of confidential information about the user. However, most exchanges offer the user substantial bonuses for transparent trading on a verified account. Account verification is necessary for the legitimacy of transactions in accordance with the existing money laundering and terrorist financing (AML / CTF) policy. 

If the chosen platform adheres to the legitimacy of transactions, it may ask for confirmation of your address, identity, phone number and email address. On the other hand, you should study user reviews to make sure that you provide this information to a reliable resource that will protect the information received from unauthorized use by third parties.

Processing times

You can find out about the average processing time for withdrawal of funds in the system rules or from reviews on independent resources. Make sure you don't have to spend too much time waiting for funds to arrive in the account you specified.

Security features

Learn what security measures the platform is taking to eliminate the risks of hacking, theft of funds, or access to a trader's personal information. A high degree of safety is also indicated by such criteria as:

  • two-factor authentication;
  • the place where the private key is stored, control over it or the need to replace it after each important transaction;
  • round-the-clock security monitoring;
  • account activity notifications via SMS or email notifications;
  • verification of user data for access to trading.

Regulation

The regulation of cryptocurrency trading has not yet reached the proper level, so everything that is written in small print in the terms of the contract you will have to study on your own to be sure of the reliability of the platform. The majority of the exchanges work exclusively with those exchange operators that are registered by the FCA. However, some exchanges such as Coinlist and Binance allow private token releases, token sales and launchpads. 

Customer support

Find out how you can contact customer service. This is important when you need to quickly solve problems with a transaction or resume access to your personal account. It is convenient when you can contact the support service not only by e-mail, but by phone or live chat – these are faster ways to solve user problems. It is also important that the support service works around the clock, and not only during selected business hours, because situations on the exchange can be different, and you never know in advance when you will need professional help in resolving technical issues related to working with the service.

Also, make sure that the platform provides ready-made solutions and answers to frequently asked questions, provides the user with guides and clear educational materials for working with the exchange.

Reputation

Do not be lazy to read the reviews and reviews of traders to make sure of the reliability and high reputation of the company you trust with your funds. The opening hours of the exchange on the market are also crucial: time-tested platforms, even in the presence of some negative reviews, are more credible than newcomer companies.

KYC & ID Requirement

It is the user's choice to remain an anonymous investor or to conduct open and transparent transactions. Decentralized exchanges such as UniSwap (uniswap.org) and Pankace Swap (pancakeswap.finance) provide their clients with the ability to keep personal and confidential information private. However, most of the market participants require the user to verify the account before he gets access to the opportunity to make transactions. The presence or absence of KYC & ID Requirement cannot be attributed to the advantages or disadvantages of the system, but you should also understand your area of responsibility in this matter.

Types of exchanges

Types of exchanges

The operational process of exchanging cryptocurrencies is outwardly similar to exchange trading, but here the emphasis is on cryptocurrency tokens. The crypto exchange is different in that it is a platform for exchanging digital tokens at current market value, as well as buying or selling cryptocurrency. 

On a crypto exchange, you can easily exchange one type of cryptocurrency to another, or make local transactions between cryptocurrency and fiat currency. The main differences between the exchanges are that some platforms are focused on professional trading, others offer the best prices and minimum commissions, while others attract the maximum convenience of the platform for the client.

There is another classification of exchanges for cryptocurrency exchange:

  • Centralized Exchanges (CEX).
  • Decentralized (DEX).
  • Peer-to-peer P2P exchanges.

Centralized exchanges offer users a larger trading volume compared to DEX, sufficiently high liquidity; here you can freely exchange fiat to cryptocurrency. However, compared to DEX, they are more vulnerable to hacking. DEX has lower trading volumes, lower liquidity, and provides the ability to only exchange one cryptocurrency for another. On the other hand, protection against external vulnerabilities is more serious.

Centralised Exchanges

A centralized exchange offers the traditional and most commonly used method of trading and exchanging cryptocurrencies. Similar to banking transactions, at CEX, buyers and sellers turn to an intermediary guarantor to manage their assets. The exchange is committed to finding suitable trading partners, safely completing transactions, and safeguarding user keys from the wallet. With easy access to pairing cryptocurrencies or fiat currencies and cryptocurrencies, centralized exchanges are the best place to start for newbie investors. Users are also attracted by the high degree of security of CEX-based transactions.

Decentralised Exchanges

Unlike CEX, a decentralized exchange doesn’t use guarantor intermediaries to complete transactions, because they are controlled by an automated process. The platform makes it possible to link trade orders with each other. Investors in this case work directly on mutually beneficial and transparent conditions, the implementation of which is controlled by a smart contract.

DEX users are attracted by:

  • Lack of oversight by third party operators and regulators. Lower transaction costs.
  • Customer anonymity.
  • The platform is not custodian (does not store the exchanged asset).

Due to the fact that DEX doesn’t actually own any assets, along with external control, there is no clear legal regulation of its activities. In the future, this may have certain legal consequences, but so far, decentralized platforms are very popular among advanced traders. ‍

Peer-to-peer (P2P) Exchanges

A peer-to-peer exchange is a type of decentralized exchange that allows sellers and buyers to agree and negotiate the price of a token prior to making a transaction. This type of cryptocurrency exchange is distinguished by transparency and reliability of operations. Peer-to-peer exchange involves the execution of a transaction without the participation of intermediaries. This makes transactions less risky, and at the same time affordable and fast.

Peer-to-peer Exchanges benefits:

Several payment options for the transaction, which cannot be offered by DEX or CEX.

The ability to work in countries with strict legal regulation of the activities of cryptocurrency exchanges.

  • Anonymity of clients and confidentiality of personal data. A P2P exchange does not require personal information from the user that he would not like to disclose.
  • Proven security. The reliability of the transaction is achieved through direct interaction of the parties without involving third parties.

It is worth noting that the trading speed on such exchanges is somewhat lower, and therefore this option is mainly used by novice investors, while professional traders prefer high liquidity and instantaneous operations on centralized exchanges.

Best Crypto Exchange UK: Categories

Choosing the best exchange for trading cryptocurrency depends on the set of conditions and functionality that it offers to users. We suggest evaluating exchanges primarily according to criteria such as trading commission, security of storage of personal data and funds, as well as deposit methods and the availability of responsive customer support.

Crypto Exchange With Lowest Fees

There are commission costs in all exchanges, however, their size can vary significantly and depend on various factors. The most profitable in this regard are such exchanges as:

BitPanda, where the cost of transactions is limited to 0.05% of the turnover. The loyalty program allows you to reduce commissions. The higher the trading volume of users, the lower the fees.

  • On the Kraken platform, trading fees range from 0% to 0.26%, which is also more than a great deal on the market.
  • The Binance exchange charges transactions with a commission of only 0.1%.

The most profitable eToro platform in this segment with Distribution Only commission.

Please note that the deposit fees are always higher when you transfer funds from your credit card for this online payment.

Best Crypto Exchange For Beginners

Many exchanges make it easy for novice investors to avoid difficulties in working with the system. These include the Binance and Kraken platforms. Here you will find detailed guides, intuitive interfaces, and a minimum entry threshold for newbies.

Best Bitcoin Trading Platform

Best trading platforms are eToro, Bitpanda and CEX.IO. These exchanges provide traders with maximum functionality and additional services, combining them with minimal commissions and high reliability.

Best Bitcoin Trading App

Mobile applications for working with cryptocurrency are divided into three types: cryptocurrency price trackers that show operational information, personal wallets for storing a certain amount of coins, and credit platforms.

When determining the best cryptocurrency app, we look at two important factors:

  • Two-factor authentication to protect against unauthorized access.
  • Real-Time Data, since the cryptocurrency market is changing rapidly, and if you do not keep your finger on the pulse, do not react instantly to any changes in the situation, it can literally cost you too much.

So, according to review sites and mobile app stores, the eToro app is considered the best offer for global users, while the Coinbase mobile app is considered the best platform for newbies.

Best Overall: Binance and Etoro

Best Overall: Binance and Etoro

The differences between the exchanges are noticeable at first glance. Binance has a simpler and simpler interface than eToro. A deeper analysis shows that:

  • Binance has a broader audience of 13.5 million members compared to 200,000 active users on the eToro platform.
  • You will have to pay lower fees on Binance than on eToro.
  • However, eToro seems to be more geared towards newbie traders as it provides a lot of training material and the ability to copy proven investing strategies by other members of the exchange.

Best for Altcoins: Binance

Binance has a huge active audience and offers a huge number of different altcoins for trading. Among them, there are also rare altcoins that cannot be found on other platforms. At the same time, the trader is offered profitable traces with minimal commissions, so Binance is really considered the best platform for working with altcoins.

Best Decentralized Exchange: Uniswap and PancakeSwap

Best Decentralized Exchange: Uniswap and PancakeSwap

The most popular DEX services are PancakeSwap and Uniswap. But the PancakeSwap service has already won unofficially in the struggle for leadership here, and other platforms are now trying to follow its example. PancakeSwap was chosen as a benchmark for a number of reasons: PancakeSwap liquidity has grown to 1000% over the past two months, high speed of work, excellent profitability, system reliability.

The Uniswap system, based on the Ethereum blockchain, faced some of its shortcomings, and it was they who prevented it from leading the market. At the same time, Uniswap has a huge number of advantages, such as a simplicity of the interface, an impeccable security system, and maximum liquidity for Ethereum ERC-20.

Cryptocurrency Exchanges That Don't Require ID

Etoro and Coinmama services can be freely used to buy Bitcoin without ID verification. At the same time, a high degree of reliability of the security of processing operations is maintained.

Useful mini guides how to work on exchanges

A cryptocurrency exchange is used to buy, sell or exchange cryptocurrencies. Each of the exchanges has its own characteristics, advantages, disadvantages, functions, requirements or limitations. To successfully trade bitcoins (BTC), ether (ETH) and other types of cryptocurrency, you need to know the rules for working with them, as well as understand some of the nuances and know useful tips.

How to use a cryptocurrency exchange

Let's take a look at how to properly use any cryptocurrency exchange:

  • Register an account with the cryptocurrency exchange that you have chosen.
  • Confirm the correctness of the entered personal information (email addresses, address, date of birth, identification data).
  • Create a cryptocurrency brokerage account.
  • Connect a bank account to your account to replenish the balance on the exchange. This can be done in a number of ways allowed by the exchange: by bank transfer, transfer of funds from a debit or credit card, or in another convenient way.
  • Select the cryptocurrency to buy.
  • Decide on a trading strategy. If you are a beginner and find it difficult to navigate the algorithms of the exchange, you should use the accounting materials and courses that are offered by similar platforms and independent experts.
  • Choose a convenient option for storing cryptocurrency: a hardware or software wallet, or divide funds between several forms of storage.

You can use wallets for storing cryptocurrency for free.

Buying cryptocurrency with fiat currency

Purchase algorithm:

  • Choose the appropriate platform and go through the complete registration process.
  • Go from your personal account to the "Buy" menu and select pounds sterling. Specify the exact amount you are going to spend.
  • Select BTC or any other currency you want to purchase.
  • Find the one that suits you in the list of payment methods and enter your payment information.
  • Check the correctness of the entered data, check the amount of commissions, and click "Buy".

Cryptocurrency can be credited to your exchange wallet or automatically sent to an external wallet address.

Buying cryptocurrency with another digital currency

  • Register on the chosen platform and enter your personal account.
  • Copy the address of the external BTC wallet to make the transfer.
  • On the platform you are using, find the "Trade" or "Exchange" section, and find among the proposed options the cryptocurrency pair that suits you.
  • In the "Buy" menu, you have the opportunity to place a market or limit order. Here, specify additional details for the transaction (amount, price) and click "Buy".

Everything is somewhat simpler with decentralized exchanges, where cryptocurrencies are exchanged directly from wallet to wallet without transferring funds to an internal wallet.

Selling cryptocurrency and withdrawing your funds

Cryptocurrency sale algorithm:

  • Log into your personal account on the exchange, and select the address of the wallet where you store BTC. You need it to transfer BTC from an external wallet. If you store BTC directly on an exchange, the algorithm may be slightly different.
  • Find the "Exchange" or "Trade" section for further trading.
  • Select the appropriate currency pair (e.g. BTC / ETH) and click "Sell".
  • Enter the transaction details. Please note that you can exchange currency pairs at the market price as well as place a limit order.
  • Check the correctness of the entered data, make sure that all fields are filled in correctly, and that the system commission suits you. Only then click "Sell". Depending on the platform chosen, funds (purchased currency) will be immediately or within a few seconds credited to your wallet used for exchange on the exchange.

Instructions for withdrawing funds from an account on the exchange

The withdrawal process depends on whether fiat currency or fiat cryptocurrency will be withdrawn.

  • Fiat currency. Login to the system and find the option "withdraw pounds sterling". Choose the type of payment convenient for you, enter your personal data so that the system can process the payment.
  • Cryptocurrency. Create and configure a wallet for storing cryptocurrency, copy its address and enter it into your account on the exchange. Specify the currency you are going to withdraw and click "Submit".

Never forget to check the correctness of the entered wallet address, personal data and other critical information for processing a transaction.

Bitcoin Exchange Regulations in the UK

Bitcoin Exchange Regulations in the UK

Most often in the UK, cryptoassets such as bitcoin, litecoin, altcoin and ether are traded. In the UK, there are still no special laws regulating the functioning of cryptocurrencies, except for the following cases:

  • Supervision of money laundering.
  • Control over cryptocurrencies when it comes to terrorist financing (CTF).

The regulation and control of cryptocurrency in the UK is carried out by a special organization called the Financial Conduct Authority (FCA). Any cryptocurrency exchange that operates in the UK is required to register with the FCA or obtain an electronic license. 

The regulatory environment for the functioning of a cryptocurrency is considered to be:

  • Barter payment for goods or services.
  • Storage and exchange of assets by individual firms or direct consumers.
  • Investments in cryptocurrency. Investments are subject to regulatory regulation only when working with security tokens.
  • Initial coin offering for capital growth or the creation of a decentralized network.

Every client account opened in the UK must also comply with the Know Your Customer (KYC) rule to avoid potential regulatory sanctions.

Where To Store Bitcoin & Cryptocurrency

Where To Store Bitcoin & Cryptocurrency

The value of cryptocurrencies, in particular Bitcoin, peaked at the end of 2017 and then repeated this success in 2019 and 2020. Not surprisingly, the number of hacker attacks on user accounts has increased, and investors are faced with the need to secure their funds. The safest ways to store Bitcoins and other cryptocurrencies are considered to be cold storage, hot wallets, or storage in an exchange account. Any wallet where your cryptocurrency is stored is protected by a set of private keys. The greatest danger threatens those who prefer individual storage, because in this case the holder of funds is not protected from physical damage to the computer, its theft, as well as from any hacking.

Store on Exchange account

You have every right to leave your cryptocurrency where you bought it. Leaving bitcoins on the exchange is considered a completely safe storage option, although different exchanges use three different security protocols that most of them use.

  • Basically, exchanges allow you to store bitcoins in a user account in cold storage – wallets that are not connected to the Internet. This option is perfectly protected from hacker attacks, but gives less mobility for performing various operations with your finances.
  • Exchanges that store cryptocurrency in hot wallets provide more opportunities for the prompt purchase, sale or transfer of digital currency and sufficient liquidity.
  • Client funds can also be kept in bank deposits if such banks are FDIC insured, so any balance in the user's account is completely safe. The huge advantage of keeping an Exchange account is the presence of an insurance policy that protects the funds of exchange clients in the event of theft of Bitcoins.

However, none of the methods will help if the user doesn’t adhere to the rules of Internet security. Come up with a strong password, set up two-factor authentication to enter your personal account – and then your cryptocurrency will definitely not disappear from your account on the exchange.

Hot Wallets

Online wallets are also known as hot wallets. These are wallets that run on a phone, tablet, or computer with an Internet connection. They generate private keys to cryptocurrency and give users quick access to their assets. But here lies the main con of the hot wallet – openness to transactions creates a potential vulnerability. As a result, funds can be stolen, and such situations are not uncommon, especially for those users who openly talk about how much cryptocurrency he stores in such wallets.

However, this is a great option for those who keep small amounts. In this case, it serves as a checking account for quick transactions, while the rest of the funds is kept in savings or investment accounts, or in a personal, cold wallet. Hot wallets can be desktop, mobile, or open as a web app.

Cold Wallets

The safest option for storing money is a cold (offline or hardware) wallet, since it is not connected to the Internet and has the maximum degree of security and maximum protection against hacking and theft of funds. Such a wallet is supplied with a software product so that the user can view his portfolio, but the private key is not compromised.

Typically, a hardware wallet is a separate USB stick where the user's data and private key are stored. Setting up this method of storing cryptocurrency requires much more knowledge and skills. On the other hand, it assumes the maximum protection, since a physical USB drive isn’t as prone to viruses on the Internet, thus it is protected from hacking and any external encroachments on the user's funds. This is the safest way to store bitcoins.

Frequently Asked Questions

Which Crypto Exchange Is Best?

Each cryptocurrency exchange has its own strength. Therefore, there is no absolute market leader here. Binance is the best for its low fees. Kraken offers wide opportunities for margin traders. The most convenient choice of cryptocurrency pairs at CEX.IO.

How Do I Choose a Crypto Exchange?

When choosing an exchange for working with cryptocurrencies, take into account such factors as limits and commissions, security and safety of personal data, available payment methods, processing time for transactions, the presence of a loyalty program, the type of trade and the choice of cryptocurrency for transactions. You may also find it more convenient to work with a mobile app rather than just the web version, so make sure the platform offers such a software solution to its users. 

Which Bitcoin Exchange Is Safest?

In all respects, the Gate.io deserves the title of the safest and most secure exchange.

What Is the Cheapest Crypto Exchange?

The lowest fees are offered by the Binance exchange. Also, the Etoro service offers users the lowest prices for their services.

What Is the Best Cryptocurrency to Invest in 2021?

The most valuable currency with a market cap of £ 523 billion is Bitcoin. And although it reached new peaks in April, and then followed a rapid downward movement in May, Bitcoin is one of the most attractive cryptocurrencies for investment. Based on today's charts, Bitcoin continues to recover successfully and remains strong in the market. Ethereum, the second largest cryptocurrency by market capitalization (£229.4 billion), is coming to Bitcoin's heels.

Another attractive option to trade is Tether, which is always kept at $1 or £1. So when an investor wants to avoid or minimize market volatility, he can transfer part of the funds to Tether.

In addition to these three most popular cryptocurrencies, you can pay attention to Binance Coin, which reached a market maximum in 2021 and has a capitalization of 40.6 billion pounds; Ethereum, XRP, or even Dogecoin. Success and profit in trading does not always depend on the popularity of the cryptocurrency itself. It is often caused by a combination of different factors that can cause the value of an investment to rise or fall. 

Practice shows that you cannot blindly trust other people's predictions and recipes for success in the cryptocurrency market. It is really possible to raise large capitals here, and nowhere else are such large dividends offered. However, the investor should independently weigh up the risks and analyze various factors.

Which Crypto Exchange Has the Most Coins?

The largest number of coins for exchange are offered by Binance (385), Huobi (342) and Kraken (82).

How do I avoid scams on cryptocurrency exchanges?

Check the exchange for safety even before registering an account. Read reviews before trusting the platform with your funds.

  • Set up two-factor authentication.
  • Avoid installing and using unverified mobile wallets.
  • Don't respond to suspicious emails you receive.
  • Don’t register on the sites of impostors. Use this overview to choose the best exchange for trading.

What if I want to place large-volume crypto trades, for example trades worth £50,000 or more?

For a crypto transaction of this volume, look at the services of over-the-counter brokers (OTC). This will help prevent slippage.

Can You Buy Bitcoin In The UK With A Credit Card?

It is possible to buy BTC with a credit card, but such transactions are subject to high commissions and are often accompanied by credit interest from the bank. Make sure that the transaction with the use of credit funds will be really profitable and will cover the costs and commissions. The restriction on the purchase of cryptocurrency from a credit account can also be set by the banks themselves.

What Is The Cheapest Way To Buy Bitcoin In The UK?

The most profitable way to buy Bitcoins in the UK is to trade without commissions, use a bank deposit account instead of credit funds, and use the Pro versions of exchanges for maximum functionality. For example, in order to be able to buy ETH, LTC, and then exchange them for BTC at a favorable rate.

You should also choose an exchange carefully based on your situation. For example, Coinbase or Binance offer BTC as cheaply as possible. However, when choosing an exchange, you need to take into account other factors that affect the speed, convenience of payment, system performance, etc.

Is It Legal To Buy Bitcoin In The UK?

Buying BTC and other cryptocurrencies in the UK is not prohibited. However, the government requires exchanges to have an FCA license to track and ban money laundering or terrorist financing transactions.

What do I have to consider when buying bitcoin in the UK?

When deciding to buy BTC, consider the following factors:

  • favorable transaction price (may differ on different exchanges);
  • availability of commissions;
  • minimum deposit requirements;
  • an acceptable currency that can be used to pay for bitcoins (many exchanges accept pounds sterling, while others only accept euros and US dollars).

Also, make sure that the chosen platform is where you intend to conduct the transaction is reliable and secure.

Do I have to pay tax on bitcoin in the UK?

Individuals who buy or sell BTC in the UK, as well as those who receive salaries in the form of crypto assets, are subject to the standard CGT capital gains tax.

Professional investors who regularly trade cryptocurrencies pay income tax calculated on the basis of the profit shown as trading income.

How high are the taxes on bitcoin in the UK?

The standard UK income tax rate is 10% on profits. If the income from cryptocurrency trading has exceeded the capital gains norm, the tax is calculated at 20% of the income received as a result of cryptocurrency trading. UK taxes are reviewed annually. This information is relevant for 2021.

How We Chose the Best Crypto Exchanges

We chose the exchanges for this review on the basis of the deep analysis. We paid attention to data obtained from official sources, expert reviews and personal experience. In the process of choosing dozens of the best exchanges, we used all the same factors, based on which we offer you to choose the perfect platform for investing and trading. 

All these conclusions are not a ready-made guide and require you to be equally careful and follow the rules of safe cryptocurrency trading. However, we are sure that our TOP 10 best exchanges deserve your trust and attention.

Conclusion: Which UK Bitcoin Exchange Should You Choose?

All the exchanges on our list are safe and can be considered the best based on certain criteria. Some offer the lowest fees or are aimed at entering the market for beginners, while others are rich in additional useful products and can offer an irreplaceable aid in professional trading.

From our list, you can choose the exchange that best suits your current trading skill level, as well as your goals and objectives. If you start from this, and use the information provided correctly, you can definitely achieve success in the cryptocurrency market.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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