Are you searching for the best UK crypto exchanges to use for trading in 2024? Whether you’re just dipping your toes into digital assets or a seasoned trader, finding the right platform to suit your needs is paramount. With many options available, it can take time to discern which one aligns with your requirements.
I have been trading crypto for the last 5 years, have personally used each of these exchanges, and have given my honest opinion on what I like about them and what I don’t.
This guide transcends the usual data compilations, amalgamating my hands-on industry know-how, use experiences, and thorough investigative efforts. I have undertaken the detailed groundwork so that you can confidently navigate the cryptocurrency exchange landscape.
The United Kingdom plays a central part in the growth of cryptocurrency markets. Here are factors I considered when selecting the top crypto exchanges in the UK.
The range of cryptocurrencies offered plays a vital role. With user preferences varying widely, premier exchanges accommodate a spectrum of interests. Many assets allow traders to discover new investment opportunities and expand their investments. Listing top-tier cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), was a primary requirement.
The exchanges had to comply with the UK’s financial regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. Such regulations protect user funds while ensuring exchange integrity; the exact specifics of the rules vary across countries. Compliance fosters trust with users and provides enhanced protection. The Financial Conduct Authority (FCA) regulates the platforms in the UK.
I cannot overstate the impact of fees on trading profitability, particularly for active traders. My examination of the exchanges’ fee structures was thorough, covering trading, withdrawal, and deposit fees. Some platforms also impose minimum deposit and withdrawal amounts. It was imperative to find exchanges that offer straightforward and detailed fee information, eliminating surprise costs.
Security stands as the paramount concern. Exchanges have served as hotspots for bad actors allured by the vast amounts of money that move across the exchanges. A loophole in the system is a big payday for criminals. Due to the concern, the exchanges had to provide extra layers of security such as multi-layer authentication, cold storage, and data encryption techniques. My analysis focused on each platform’s dedication to protecting its users’ financial assets and personal data.
A smooth trading experience depends on an exchange’s interface design. My evaluation considered the interface’s simplicity, ease of navigation, and the availability of customization. The goal was to ensure that novices and seasoned traders found the interface conducive to their trading activities.
The necessity for dedicated mobile applications in today’s mobile-centric world was also a key consideration. My assessment looked into the availability of apps for both iOS and Android platforms, recognizing that mobile applications offer traders the flexibility to manage their investments on the go.
There is a thriving crypto market in the UK with a selection of top-notch crypto exchange options, though some big exchanges do not operate in the UK (Such as ByBit and Gate.io).
Here is a snapshot of the best UK crypto exchanges that UK residents can use:
Trading Fees | Deposit method | Available cryptocurrencies | Mobile App | |
Bitstamp | Tiered on 30-day trading volume. From 0% to 0.40% | Apple Pay, Google Pay, SEPA, ACH, Faster Payments, Instant payments, international wire, cryptocurrency. | 90+ cryptocurrencies | iOS and Android |
Uphold | 0.25% fee for stablecoins, 1.4 – 1.6% for BTC and ETH, and 1.9% – 2.5% for Altcoins. | Bank transfer (FPS, SEPA), credit/debit card, Apple Pay, and various payment methods depending on your location | 260+ cryptocurrencies | iOS and Android |
Revolut | 0.12% monthly custody fee. Plans: Standard- free, Plus 3.99 euro, Premium- 9.99 euro, Metal – 15.99 euro, Ultra- 45 euro per month. | Bank transfer, credit/debit card, and other local payment options | 130+ cryptocurrencies, | iOS and Android |
CoinJar | Tiered fee structure based on 30-day, with fees ranging from 0.02% to 0.10% trading volume. | Bank transfer, Google, Apple Pay, SEPA, PayID, or Osko. | 50+ cryptocurrencies | iOS and Android, |
Coinbase | Tiered based on 30-day trading volume. From 0.0% to 0.6%. | ACH, wire transfer, SEPA, SWIFT, cryptocurrency. | 150+ listed cryptocurrencies | iOS and Android |
Crypto.com | Fees are tiered based on 30-day trending volume: from 0.05% to 0.075% | Crypto.com wallet, external wallets | 250+ cryptocurrencies. | iOS and Android |
Gemini | From £0.75 to £2.25, 1.49% for amounts above £150. | ACH, wire transfer, Paypal | 70+ cryptocurrencies | iOS and Android |
Paybis | A flat fee – a $2 minimum service fee. | Bank transfer, credit/debit card, Skrill, Giropay, and ACH Transfer | 150+ crypto and fiat currencies | iOS and Android |
eToro | 1% fee for buying and selling crypto. 2% deposit fee. | PayPal, Neteller, Skrill, online banking, Visa, Mastercard, eToro money. | 80+ Cryptocurrencies listed | iOS and Android |
MEXC | 0% spot fees, 0% futures maker fee, and 0.01% futures taker fee. | Credit/ debit card, P2P trading, global bank transfer, Simplex, Banxa, Mercuryo. | 2,000+ cryptocurrencies listed. | Windows, Android, and iOS. |
These trading platforms provide a variety of choices, such as bank transfers and margin trading, to cater to the diverse needs and levels of expertise among traders.
Notable mentions also include:
These platforms showcase the extensive variety found in the UK’s crypto market, serving as a platform for various trading techniques and levels of experience among crypto traders.
Here are the top 10 cryptocurrency exchanges in the UK:
Great for: Beginners and Easy On-Ramp
Coinbase trading interface
Specification | Details |
Available Cryptocurrencies | 150+ listed cryptocurrencies |
Trading Fees | Tiered based on 30-day trading volume. From 0.0% to 0.6%. |
Deposit Methods | ACH, wire transfer, SEPA, SWIFT, cryptocurrency |
Withdrawal Methods | ACH, wire transfer, SEPA, SWIFT, cryptocurrency |
Security Features | Encryption, annual audits, 2FA, multi-approval withdrawals, |
User Interface | Intuitive and a user-friendly interface suitable for both beginners and experienced users |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
Here is my take, if it’s your first time buying and selling crypto, Coinbase is user-friendly and makes your first purchase easy. Like most other exchanges, you can buy crypto using a credit or debit card without depositing funds onto the exchange account first. You can also use PayPal as a payment method.
The verification step does not require downloading their app; you can complete the process on your browser.
Coinbase Pro (Coinbase advanced trading platform) is free, has lower fees, and more trading options. If you are switching exchanges, Coinbase has a debit card that lets you spend crypto where Visa is accepted.
Coinbase raised a fuss on the internet when they implemented the quiz requirement as directed by the FCA. Many traders cited difficult questions and long waiting periods to retake the test.
Kraken’s version of the quiz was much simpler, and I was able to figure out the answers. I, therefore approached Coinbase with confidence. But no! I’ve failed it twice so far! I think I’ll have to enlist the help of ChatGPT… Coinbase have potentially shot themselves in the foot by using such complicated language. Or do they have a reason to bamboozle most of their customers?? – Michael Wimpy on an online forum.
Another thing I really like about Coinbase is how easy it is when it comes to calculating your capital gains tax, you can download full transaction reports, and there are some great educational resources to help you.
The only slight drawback with Coinbase is they don’t have a huge selection of coins and many of the newer cryptocurrencies cannot be purchased.
I would say for beginners and first time buyers of crypto this is the best UK crypto exchange to get started with.
Rating:
Coinbase Review
Great for: Also Trading Stocks
Placing a $93.44 BTC market order on eToro
Specification | Details |
Available Cryptocurrencies | 80+ Cryptocurrencies listed |
Trading Fees | 1% fee for buying and selling crypto. 2% deposit fee. |
Deposit Methods | PayPal, Neteller, Skrill, Online banking, Visa, Mastercard, eToro money. |
Withdrawal Methods | PayPal, Neteller, Skrill, iDEAL, Visa, Mastercard, eToro money. |
Security Features | All Funds covered, two factor authentication (2FA), SSL encryption, regular security audits |
User Interface | Optimized for CFD trading, intuitive smart copy trading interface |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
I’ve thoroughly tested eToro services, and it’s one of the best trading platforms out there. MEXC follows the conventional KYC sign-up process with a mandatory residence proof requirement. The platform is primarily a contract of difference (CFD) broker. Like the other platforms, it is FCA-regulated, with UK investors entitled to investor protection of up to £85,000 per person. All profits from CFD trading are subject to taxation.
What I liked about the platform is its social trading approach to trading. The platform has a powerful and intuitive copy trading functionality, allowing you to copy a profitable trader based on your risk appetite.
Rating:
Great for: Lowest trading fees in the market
Crypto trading interface on MEXC
Specification | Details |
Available Cryptocurrencies | 2000+ listed cryptocurrencies |
Trading Fees | 0% spot fees, 0% futures maker fee, and 0.01% futures taker fee. |
Deposit Methods | Credit/ debit card, P2P trading, global bank transfer, Simplex, Banxa, Mercuryo. |
Withdrawal Methods | Primarily Cryptocurrency withdrawals. |
Security Features | Multifactor authentication and encryption to protect user accounts and transactions |
User Interface | Optimized for traders interested in derivatives, with an emphasis on futures and perpetual contracts |
Mobile App | Windows, iOS, and Android |
Pros:
Cons:
Features:
MEXC follows the conventional KYC sign-up process. No centralized exchange can match the vast number of cryptocurrencies listed on MEXC. I would recommend MEXC to advanced traders due to its rich features. The Kickstarter feature on MEXC allows users to receive airdrops on new tokens. To be eligible, you must hold a minimum of 1000MX worth about $2,850 (at press time) for at least 30 days.
In the UK, however, users face some limitations, particularly in derivatives trading, due to regional regulations.
Rating:
Great for: Large Volume Trades
Making an Instant BTC trade on Bitstamp
Specification | Details |
Available Cryptocurrencies | 90+ cryptocurrencies |
Trading Fees | Tiered on 30-day trading volume. From 0% to 0.40% |
Deposit Methods | Apple Pay, Google Pay, SEPA, ACH, Faster Payments, Instant payments, international wire, cryptocurrency. |
Withdrawal Methods | SEPA, ACH, Faster Payments, Instant payments, international wire, cryptocurrency. |
Security Features | Encryption, safelisting addresses, offline storage |
User Interface | Intuitive and customizable |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
Bitstamp is one of the oldest exchanges regulated in the UK. Account creation on the exchange is straightforward. However, you must upload your identification document and proof of address for KYC verification, unlike other exchanges like Revolut, where verification occurs on a mobile app in real-time.
I liked the platform’s lending and staking features. The functionalities allowed me to earn passive income on my idle digital assets. The exchange also has a ‘Learn’ segment to inform you about blockchain technology and cryptocurrencies.
Rating:
Great for: Extensive Altcoin Options
Uphold trading interface
Specification | Details |
Available Cryptocurrencies | 260+ cryptocurrencies |
Trading Fees | 0.25% for stablecoins, 1.4 – 1.6% for BTC and ETH, and 1.9% – 2.5% for Altcoins. |
Deposit Methods | Bank transfer (FPS, SEPA), credit/debit card, Apple Pay, and other methods depending on your location. |
Withdrawal Methods | Bank accounts, crypto wallets, or other Uphold members. Options vary based on your location. |
Security Features | 2FA, encryption, and regular security audits to protect user accounts and funds |
User Interface | Uphold offers an intuitive and user-friendly interface. |
Mobile App | iOS and Android. |
Pros:
Cons:
Features:
Formerly Bitreserve, Uphold has been in the market for a decade. The FCA regulates the platform’s operation in the UK. This regulation requires extra checks before being allowed to trade on the platform.
When signing up as a UK user, I had to pass two questionnaires to confirm my understanding of crypto topics. After completing the questionnaire, there was a 24-hour ‘cooling-off’ period before they allowed me to purchase crypto. If you fail the questionnaire, you become ineligible to hold an Uphold account.
Here is a quick prep from my experience:
Rating:
Uphold Exchange Review
Great for: Unique Banking Integration
Revolut Mobile App interface
Specification | Details |
Available Cryptocurrencies | 130+ cryptocurrencies |
Trading Fees | 0.12% monthly custody fee. Plans: Standard- free, Plus 3.99 euro, Premium- 9.99 euro, Metal – 15.99 euro, Ultra- 45 euro per month. |
Deposit Methods | Bank transfer, credit/debit card, cryptocurrency. |
Withdrawal Methods | Bank account or other external accounts, cryptocurrency |
Security Features | Encryption, 2FA, and transaction alerts. |
User Interface | User-friendly and modern interface with multiple social features. |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
Revolut was originally a digital banking and financial services platform launched in 2015. It later expanded its services to accommodate cryptocurrency trading.
My experience with Revolut was different compared to other exchanges. For instance, you must download the Revolut APP from the Google Play Store or Apple Store to sign up; you can’t do it on a PC. Also, the sign-up process for business and personal accounts differs, and they use different apps.
Revolut will provide you with a range of accounts. The standard account is free; other accounts include Plus, Premium, Metal, and Ultra. They differ in aspects like the cost of ATM withdrawals, personalization of debit cards, insurance, interest rates, travel benefits, fees, lounge access, and car hire protection. It offers a whole different experience to the conventional centralised exchanges.
Another factor to consider is that Revolut accounts are electronic money accounts, not bank accounts. Your deposits are not guaranteed under the UK Financial Services Compensation Scheme (FSCS).
Rating:
Great for: Streamlined and Simple Crypto Trades.
CoinJar trading interface.
Specification | Details |
Available Cryptocurrencies | 50+ cryptocurrencies |
Trading Fees | Coinjar has a tiered fee structure. Fees range from 0.02% to 0.10%, depending on your 30-day trading volume. |
Deposit Methods | Bank transfer, Google, Apple Pay, SEPA, PayID, or Osko |
Withdrawal Methods | Bank account, cryptocurrency wallet, or other external accounts |
Security Features | Multi-level data encryption, and funds secured by BitGO and Fireblocks. 90% of customers’ assets are stored offline. |
User Interface | Intuitive and user-friendly interface suitable for both beginners and experienced users |
Mobile App | iOS and Android, |
Pros:
Cons:
Features:
Coinjar provides a platform for trading cryptocurrencies with its base in Australia. Signing up on the platform also required me to complete KYC on their mobile app, which is available on iOS and Android Play Store. The process will require you to take a picture of your ID and a selfie. It also further checks your proof of address using verification databases such as the electoral register and credit files. In the case of these check files, you must provide the verification documents.
Coinjar introduced the first full-service cryptocurrency card in the UK. The trading experience on Coinjar was smooth despite a limited number of features and cryptocurrencies. The platform makes up for the shortcoming with zero fees on all Stablecoin-to-Fiat, Stablecoin-to-Stablecoin, Crypto-to-Stablecoin, and Crypto-to-Crypto maker trades.
Rating:
Great for: Diverse Offerings
Crypto.com mobile app
Specification | Details |
Available Cryptocurrencies | 250+ cryptocurrencies. |
Trading Fees | Tiered based on 30-day trending volume: from 0.05% to 0.075% |
Deposit Methods | Crypto.com wallet, external wallets |
Withdrawal Methods | Crypto.com wallet, external wallets |
Security Features | SOC2 Type 1 Compliance, PCI: DSS 3.2.1 Level 1 compliance, ISO/IEC 27001:2013ISO/IEC 27701:2019, ISO 22301:2019, Singapore Data Protection Trust Mark |
User Interface | User-friendly and modern interface |
Mobile App | Android and iOS |
Pros:
Cons:
Features:
Like Coinjar, I had to download the Crypto.com mobile app to facilitate KYC checks during the process to open an account. The platform extended its services to accommodate DeFi users through their web3 wallet. DeFi users have absolute control over their crypto and do not require permissions or usage oversight from Crypto.com.
Another plus for the platform is its wide selection of cryptocurrencies, one of the largest available in the UK. The platform also has an intuitive trading interface and savings features for idle crypto assets. CRO, the platform’s native token, for instance, earned me 12.06% p.a. I would recommend the platform to both beginners and advanced buyers and sellers.
Rating:
Great for: Having a crypto debit card
Gemini exchange trrading interface
Specification | Details |
Available Cryptocurrencies | 70+ cryptocurrencies |
Trading Fees | From £0.75 to £2.25, 1.49% for amounts above £150. |
Deposit Methods | ACH, wire transfer, Paypal |
Withdrawal Methods | ACH, wire transfer, SGD fast transfer |
Security Features | 2FA, encryption, SOC 1 Type 2 and SOC 2 Type 2 compliant, cold wallet storage, ISO 27001, annual penetration testing, cold storage. |
User Interface | A user-friendly and modern interface |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
The platform comprises two sign-up processes, one for individuals and the other for institutions. I liked the platform’s approach to having two trading interfaces, one for beginners and the other for advanced traders. While I didn’t get to test my debit card, they mentioned that you can link your debit card with your account and buy crypto quickly and easily. You can also buy and sell NFTs on the platform.
Not everyone wants to place their trades. Invest in crypto simply by spending with the Gemini Credit Card.
Rating:
Great for: instant buy/payouts
Paybis trading interface
Specification | Details |
Available Cryptocurrencies | 150+ crypto and fiat currencies |
Trading Fees | A $2 minimum service fee. |
Deposit Methods | Bank transfer, credit/debit card, Skrill, Giropay, and ACH Transfer. |
Withdrawal Methods | Cryptocurrency wallet or external accounts |
Security Features | Multifactor authentication and encryption to protect user accounts and transactions |
User Interface | User-friendly and straightforward interface |
Mobile App | Android and iOS. |
Pros:
Cons:
Features:
My experience with Paybis was straightforward; the platform does not have the conventional limit and market orders interface with an intuitive trading interface. The platform is more of a swap function; pay using your card and receive crypto in your wallet. The reverse happens when selling crypto.
Here is how to trade on the platform:
The verification process took me about 5 minutes. Once completed, your cryptocurrency purchase will be processed. I would not recommend the platform to advanced traders; however, it is a great option for beginners to learn their way around the crypto landscape.
Rating:
Centralised exchanges (CEXs) and decentralised exchanges (DEXs) are two sides of the same coin. The two have different architectures, but all seek to perform the same function. So why would you pick a CEX over a DEX? Or vice versa.
CEXs are centralised, meaning they have a hierarchical structure where people at the top have absolute control over the platform. The platforms act as intermediaries who ease interaction with the blockchain. They provide a platform where you can sign up, entrust them with your digital assets, and connect you to more market makers and diversification opportunities. Their services come at a cost, which they deduct as transaction fees or commissions. These features make the platforms popular among both beginners and advanced traders. Conversely, security and using your funds by the platform are significant concerns. The platforms are susceptible to hacks and misappropriation of customer funds.
DEXs are decentralized, meaning there are no intermediaries. Transactions occur on-chain, i.e., directly on the blockchain.
Innovative models allow users to provide liquidity on these platforms in return for incentives. The codes for these platforms are generally in the public domain, encouraging critic and innovative feedback.
Since the platforms are on-chain, users hold their private keys and sign (approve) transactions directly on their wallets. DEXs prioritize anonymity since they don’t require you to sign in. Instead, you just authorize a transaction to connect your wallet with the platform.
On the flip side, DEXs are complex platforms. They are suitable for advanced traders who know how blockchain operates and the dynamics of self-custody wallets.
The platforms are also prone to hacks resulting from vulnerabilities in their code.
The choice between a CEX and a DEX hinges on several factors. These include trading goals, individual preferences, and expertise. Beginners should opt for CEXs. DEXs have a more extensive portfolio of listed cryptocurrencies but can be problematic due to low liquidity.
In the UK, crypto exchanges are regulated by the Financial Conduct Authority (FCA), which oversees their operations.
The FCA ensures that financial markets, including those for cryptocurrencies, are fair and transparent. To this end, they require all UK-based cryptocurrency businesses to comply with regulations such as the ‘Travel Rule,’ a part of the Money Laundering Regulations 2017 that aims to prevent illegal activities through information sharing.
Under these regulations set forth by the FCA guidance on crypto assets financial promotions (FG23/3) practical from October 2023, regulated exchanges in the UK must adhere to standards related to anti-money laundering (AML), counter-terrorist financing (CTF), and customer care practices – making them safer for consumers.
Recent changes have impacted certain products like leverage crypto CFDs explicitly offered to retail clients within this market segment. This impact is because brokers or similar entities operating under strict regulation cannot provide said products moving forward.
While the above are the best crypto exchanges in the UK, they are not immune to exploits. Here is a quick record of such occurrences:
Gemini:
Bitstamp:
Coinbase:
Revolut:
Crypto.com
While these incidents have occurred, the exchanges have taken proactive measures to address the challenges, including plans to reimburse affected users.
The UK crypto trading market presents a wide range of options, each with unique qualities and strengths. From Bitstamp’s high liquidity to Uphold’s altcoin variety, MEXC’s low fees, and Crypto.com’s offerings variety, an exchange caters to every trader’s needs.
Exchanges like eToro, Gemini, Paybis, and Revolut offer secure trading environments and innovative features for enhanced trading experiences.
When selecting an exchange in this ever-evolving crypto market landscape, it is essential to consider factors like security measures, rules imposed by regulatory bodies, costs associated with transactions, varieties of cryptocurrency offered, and user-friendliness ratings from clients.
Besides, this understanding should extend to centralised versus decentralised platforms, the value placed on safety precautions taken by these mediums, and the structure behind the fee collection process. These considerations equip traders to make informed decisions while navigating UK crypto exchange markets.
Such dynamism will continue shaping a captivating prospectus for investors and vendors, encouraging constant transformation within the industry.
Are you searching for the best UK crypto exchanges to use for trading in 2024? Whether you’re just dipping your toes into digital assets or a seasoned trader, finding the right platform to suit your needs is paramount. With many options available, it can take time to discern which one aligns with your requirements.
I have been trading crypto for the last 5 years, have personally used each of these exchanges, and have given my honest opinion on what I like about them and what I don’t.
This guide transcends the usual data compilations, amalgamating my hands-on industry know-how, use experiences, and thorough investigative efforts. I have undertaken the detailed groundwork so that you can confidently navigate the cryptocurrency exchange landscape.
The United Kingdom plays a central part in the growth of cryptocurrency markets. Here are factors I considered when selecting the top crypto exchanges in the UK.
The range of cryptocurrencies offered plays a vital role. With user preferences varying widely, premier exchanges accommodate a spectrum of interests. Many assets allow traders to discover new investment opportunities and expand their investments. Listing top-tier cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), was a primary requirement.
The exchanges had to comply with the UK’s financial regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. Such regulations protect user funds while ensuring exchange integrity; the exact specifics of the rules vary across countries. Compliance fosters trust with users and provides enhanced protection. The Financial Conduct Authority (FCA) regulates the platforms in the UK.
I cannot overstate the impact of fees on trading profitability, particularly for active traders. My examination of the exchanges’ fee structures was thorough, covering trading, withdrawal, and deposit fees. Some platforms also impose minimum deposit and withdrawal amounts. It was imperative to find exchanges that offer straightforward and detailed fee information, eliminating surprise costs.
Security stands as the paramount concern. Exchanges have served as hotspots for bad actors allured by the vast amounts of money that move across the exchanges. A loophole in the system is a big payday for criminals. Due to the concern, the exchanges had to provide extra layers of security such as multi-layer authentication, cold storage, and data encryption techniques. My analysis focused on each platform’s dedication to protecting its users’ financial assets and personal data.
A smooth trading experience depends on an exchange’s interface design. My evaluation considered the interface’s simplicity, ease of navigation, and the availability of customization. The goal was to ensure that novices and seasoned traders found the interface conducive to their trading activities.
The necessity for dedicated mobile applications in today’s mobile-centric world was also a key consideration. My assessment looked into the availability of apps for both iOS and Android platforms, recognizing that mobile applications offer traders the flexibility to manage their investments on the go.
There is a thriving crypto market in the UK with a selection of top-notch crypto exchange options, though some big exchanges do not operate in the UK (Such as ByBit and Gate.io).
Here is a snapshot of the best UK crypto exchanges that UK residents can use:
Trading Fees | Deposit method | Available cryptocurrencies | Mobile App | |
Bitstamp | Tiered on 30-day trading volume. From 0% to 0.40% | Apple Pay, Google Pay, SEPA, ACH, Faster Payments, Instant payments, international wire, cryptocurrency. | 90+ cryptocurrencies | iOS and Android |
Uphold | 0.25% fee for stablecoins, 1.4 – 1.6% for BTC and ETH, and 1.9% – 2.5% for Altcoins. | Bank transfer (FPS, SEPA), credit/debit card, Apple Pay, and various payment methods depending on your location | 260+ cryptocurrencies | iOS and Android |
Revolut | 0.12% monthly custody fee. Plans: Standard- free, Plus 3.99 euro, Premium- 9.99 euro, Metal – 15.99 euro, Ultra- 45 euro per month. | Bank transfer, credit/debit card, and other local payment options | 130+ cryptocurrencies, | iOS and Android |
CoinJar | Tiered fee structure based on 30-day, with fees ranging from 0.02% to 0.10% trading volume. | Bank transfer, Google, Apple Pay, SEPA, PayID, or Osko. | 50+ cryptocurrencies | iOS and Android, |
Coinbase | Tiered based on 30-day trading volume. From 0.0% to 0.6%. | ACH, wire transfer, SEPA, SWIFT, cryptocurrency. | 150+ listed cryptocurrencies | iOS and Android |
Crypto.com | Fees are tiered based on 30-day trending volume: from 0.05% to 0.075% | Crypto.com wallet, external wallets | 250+ cryptocurrencies. | iOS and Android |
Gemini | From £0.75 to £2.25, 1.49% for amounts above £150. | ACH, wire transfer, Paypal | 70+ cryptocurrencies | iOS and Android |
Paybis | A flat fee – a $2 minimum service fee. | Bank transfer, credit/debit card, Skrill, Giropay, and ACH Transfer | 150+ crypto and fiat currencies | iOS and Android |
eToro | 1% fee for buying and selling crypto. 2% deposit fee. | PayPal, Neteller, Skrill, online banking, Visa, Mastercard, eToro money. | 80+ Cryptocurrencies listed | iOS and Android |
MEXC | 0% spot fees, 0% futures maker fee, and 0.01% futures taker fee. | Credit/ debit card, P2P trading, global bank transfer, Simplex, Banxa, Mercuryo. | 2,000+ cryptocurrencies listed. | Windows, Android, and iOS. |
These trading platforms provide a variety of choices, such as bank transfers and margin trading, to cater to the diverse needs and levels of expertise among traders.
Notable mentions also include:
These platforms showcase the extensive variety found in the UK’s crypto market, serving as a platform for various trading techniques and levels of experience among crypto traders.
Here are the top 10 cryptocurrency exchanges in the UK:
Great for: Beginners and Easy On-Ramp
Coinbase trading interface
Specification | Details |
Available Cryptocurrencies | 150+ listed cryptocurrencies |
Trading Fees | Tiered based on 30-day trading volume. From 0.0% to 0.6%. |
Deposit Methods | ACH, wire transfer, SEPA, SWIFT, cryptocurrency |
Withdrawal Methods | ACH, wire transfer, SEPA, SWIFT, cryptocurrency |
Security Features | Encryption, annual audits, 2FA, multi-approval withdrawals, |
User Interface | Intuitive and a user-friendly interface suitable for both beginners and experienced users |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
Here is my take, if it’s your first time buying and selling crypto, Coinbase is user-friendly and makes your first purchase easy. Like most other exchanges, you can buy crypto using a credit or debit card without depositing funds onto the exchange account first. You can also use PayPal as a payment method.
The verification step does not require downloading their app; you can complete the process on your browser.
Coinbase Pro (Coinbase advanced trading platform) is free, has lower fees, and more trading options. If you are switching exchanges, Coinbase has a debit card that lets you spend crypto where Visa is accepted.
Coinbase raised a fuss on the internet when they implemented the quiz requirement as directed by the FCA. Many traders cited difficult questions and long waiting periods to retake the test.
Kraken’s version of the quiz was much simpler, and I was able to figure out the answers. I, therefore approached Coinbase with confidence. But no! I’ve failed it twice so far! I think I’ll have to enlist the help of ChatGPT… Coinbase have potentially shot themselves in the foot by using such complicated language. Or do they have a reason to bamboozle most of their customers?? – Michael Wimpy on an online forum.
Another thing I really like about Coinbase is how easy it is when it comes to calculating your capital gains tax, you can download full transaction reports, and there are some great educational resources to help you.
The only slight drawback with Coinbase is they don’t have a huge selection of coins and many of the newer cryptocurrencies cannot be purchased.
I would say for beginners and first time buyers of crypto this is the best UK crypto exchange to get started with.
Rating:
Coinbase Review
Great for: Also Trading Stocks
Placing a $93.44 BTC market order on eToro
Specification | Details |
Available Cryptocurrencies | 80+ Cryptocurrencies listed |
Trading Fees | 1% fee for buying and selling crypto. 2% deposit fee. |
Deposit Methods | PayPal, Neteller, Skrill, Online banking, Visa, Mastercard, eToro money. |
Withdrawal Methods | PayPal, Neteller, Skrill, iDEAL, Visa, Mastercard, eToro money. |
Security Features | All Funds covered, two factor authentication (2FA), SSL encryption, regular security audits |
User Interface | Optimized for CFD trading, intuitive smart copy trading interface |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
I’ve thoroughly tested eToro services, and it’s one of the best trading platforms out there. MEXC follows the conventional KYC sign-up process with a mandatory residence proof requirement. The platform is primarily a contract of difference (CFD) broker. Like the other platforms, it is FCA-regulated, with UK investors entitled to investor protection of up to £85,000 per person. All profits from CFD trading are subject to taxation.
What I liked about the platform is its social trading approach to trading. The platform has a powerful and intuitive copy trading functionality, allowing you to copy a profitable trader based on your risk appetite.
Rating:
Great for: Lowest trading fees in the market
Crypto trading interface on MEXC
Specification | Details |
Available Cryptocurrencies | 2000+ listed cryptocurrencies |
Trading Fees | 0% spot fees, 0% futures maker fee, and 0.01% futures taker fee. |
Deposit Methods | Credit/ debit card, P2P trading, global bank transfer, Simplex, Banxa, Mercuryo. |
Withdrawal Methods | Primarily Cryptocurrency withdrawals. |
Security Features | Multifactor authentication and encryption to protect user accounts and transactions |
User Interface | Optimized for traders interested in derivatives, with an emphasis on futures and perpetual contracts |
Mobile App | Windows, iOS, and Android |
Pros:
Cons:
Features:
MEXC follows the conventional KYC sign-up process. No centralized exchange can match the vast number of cryptocurrencies listed on MEXC. I would recommend MEXC to advanced traders due to its rich features. The Kickstarter feature on MEXC allows users to receive airdrops on new tokens. To be eligible, you must hold a minimum of 1000MX worth about $2,850 (at press time) for at least 30 days.
In the UK, however, users face some limitations, particularly in derivatives trading, due to regional regulations.
Rating:
Great for: Large Volume Trades
Making an Instant BTC trade on Bitstamp
Specification | Details |
Available Cryptocurrencies | 90+ cryptocurrencies |
Trading Fees | Tiered on 30-day trading volume. From 0% to 0.40% |
Deposit Methods | Apple Pay, Google Pay, SEPA, ACH, Faster Payments, Instant payments, international wire, cryptocurrency. |
Withdrawal Methods | SEPA, ACH, Faster Payments, Instant payments, international wire, cryptocurrency. |
Security Features | Encryption, safelisting addresses, offline storage |
User Interface | Intuitive and customizable |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
Bitstamp is one of the oldest exchanges regulated in the UK. Account creation on the exchange is straightforward. However, you must upload your identification document and proof of address for KYC verification, unlike other exchanges like Revolut, where verification occurs on a mobile app in real-time.
I liked the platform’s lending and staking features. The functionalities allowed me to earn passive income on my idle digital assets. The exchange also has a ‘Learn’ segment to inform you about blockchain technology and cryptocurrencies.
Rating:
Great for: Extensive Altcoin Options
Uphold trading interface
Specification | Details |
Available Cryptocurrencies | 260+ cryptocurrencies |
Trading Fees | 0.25% for stablecoins, 1.4 – 1.6% for BTC and ETH, and 1.9% – 2.5% for Altcoins. |
Deposit Methods | Bank transfer (FPS, SEPA), credit/debit card, Apple Pay, and other methods depending on your location. |
Withdrawal Methods | Bank accounts, crypto wallets, or other Uphold members. Options vary based on your location. |
Security Features | 2FA, encryption, and regular security audits to protect user accounts and funds |
User Interface | Uphold offers an intuitive and user-friendly interface. |
Mobile App | iOS and Android. |
Pros:
Cons:
Features:
Formerly Bitreserve, Uphold has been in the market for a decade. The FCA regulates the platform’s operation in the UK. This regulation requires extra checks before being allowed to trade on the platform.
When signing up as a UK user, I had to pass two questionnaires to confirm my understanding of crypto topics. After completing the questionnaire, there was a 24-hour ‘cooling-off’ period before they allowed me to purchase crypto. If you fail the questionnaire, you become ineligible to hold an Uphold account.
Here is a quick prep from my experience:
Rating:
Uphold Exchange Review
Great for: Unique Banking Integration
Revolut Mobile App interface
Specification | Details |
Available Cryptocurrencies | 130+ cryptocurrencies |
Trading Fees | 0.12% monthly custody fee. Plans: Standard- free, Plus 3.99 euro, Premium- 9.99 euro, Metal – 15.99 euro, Ultra- 45 euro per month. |
Deposit Methods | Bank transfer, credit/debit card, cryptocurrency. |
Withdrawal Methods | Bank account or other external accounts, cryptocurrency |
Security Features | Encryption, 2FA, and transaction alerts. |
User Interface | User-friendly and modern interface with multiple social features. |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
Revolut was originally a digital banking and financial services platform launched in 2015. It later expanded its services to accommodate cryptocurrency trading.
My experience with Revolut was different compared to other exchanges. For instance, you must download the Revolut APP from the Google Play Store or Apple Store to sign up; you can’t do it on a PC. Also, the sign-up process for business and personal accounts differs, and they use different apps.
Revolut will provide you with a range of accounts. The standard account is free; other accounts include Plus, Premium, Metal, and Ultra. They differ in aspects like the cost of ATM withdrawals, personalization of debit cards, insurance, interest rates, travel benefits, fees, lounge access, and car hire protection. It offers a whole different experience to the conventional centralised exchanges.
Another factor to consider is that Revolut accounts are electronic money accounts, not bank accounts. Your deposits are not guaranteed under the UK Financial Services Compensation Scheme (FSCS).
Rating:
Great for: Streamlined and Simple Crypto Trades.
CoinJar trading interface.
Specification | Details |
Available Cryptocurrencies | 50+ cryptocurrencies |
Trading Fees | Coinjar has a tiered fee structure. Fees range from 0.02% to 0.10%, depending on your 30-day trading volume. |
Deposit Methods | Bank transfer, Google, Apple Pay, SEPA, PayID, or Osko |
Withdrawal Methods | Bank account, cryptocurrency wallet, or other external accounts |
Security Features | Multi-level data encryption, and funds secured by BitGO and Fireblocks. 90% of customers’ assets are stored offline. |
User Interface | Intuitive and user-friendly interface suitable for both beginners and experienced users |
Mobile App | iOS and Android, |
Pros:
Cons:
Features:
Coinjar provides a platform for trading cryptocurrencies with its base in Australia. Signing up on the platform also required me to complete KYC on their mobile app, which is available on iOS and Android Play Store. The process will require you to take a picture of your ID and a selfie. It also further checks your proof of address using verification databases such as the electoral register and credit files. In the case of these check files, you must provide the verification documents.
Coinjar introduced the first full-service cryptocurrency card in the UK. The trading experience on Coinjar was smooth despite a limited number of features and cryptocurrencies. The platform makes up for the shortcoming with zero fees on all Stablecoin-to-Fiat, Stablecoin-to-Stablecoin, Crypto-to-Stablecoin, and Crypto-to-Crypto maker trades.
Rating:
Great for: Diverse Offerings
Crypto.com mobile app
Specification | Details |
Available Cryptocurrencies | 250+ cryptocurrencies. |
Trading Fees | Tiered based on 30-day trending volume: from 0.05% to 0.075% |
Deposit Methods | Crypto.com wallet, external wallets |
Withdrawal Methods | Crypto.com wallet, external wallets |
Security Features | SOC2 Type 1 Compliance, PCI: DSS 3.2.1 Level 1 compliance, ISO/IEC 27001:2013ISO/IEC 27701:2019, ISO 22301:2019, Singapore Data Protection Trust Mark |
User Interface | User-friendly and modern interface |
Mobile App | Android and iOS |
Pros:
Cons:
Features:
Like Coinjar, I had to download the Crypto.com mobile app to facilitate KYC checks during the process to open an account. The platform extended its services to accommodate DeFi users through their web3 wallet. DeFi users have absolute control over their crypto and do not require permissions or usage oversight from Crypto.com.
Another plus for the platform is its wide selection of cryptocurrencies, one of the largest available in the UK. The platform also has an intuitive trading interface and savings features for idle crypto assets. CRO, the platform’s native token, for instance, earned me 12.06% p.a. I would recommend the platform to both beginners and advanced buyers and sellers.
Rating:
Great for: Having a crypto debit card
Gemini exchange trrading interface
Specification | Details |
Available Cryptocurrencies | 70+ cryptocurrencies |
Trading Fees | From £0.75 to £2.25, 1.49% for amounts above £150. |
Deposit Methods | ACH, wire transfer, Paypal |
Withdrawal Methods | ACH, wire transfer, SGD fast transfer |
Security Features | 2FA, encryption, SOC 1 Type 2 and SOC 2 Type 2 compliant, cold wallet storage, ISO 27001, annual penetration testing, cold storage. |
User Interface | A user-friendly and modern interface |
Mobile App | iOS and Android |
Pros:
Cons:
Features:
The platform comprises two sign-up processes, one for individuals and the other for institutions. I liked the platform’s approach to having two trading interfaces, one for beginners and the other for advanced traders. While I didn’t get to test my debit card, they mentioned that you can link your debit card with your account and buy crypto quickly and easily. You can also buy and sell NFTs on the platform.
Not everyone wants to place their trades. Invest in crypto simply by spending with the Gemini Credit Card.
Rating:
Great for: instant buy/payouts
Paybis trading interface
Specification | Details |
Available Cryptocurrencies | 150+ crypto and fiat currencies |
Trading Fees | A $2 minimum service fee. |
Deposit Methods | Bank transfer, credit/debit card, Skrill, Giropay, and ACH Transfer. |
Withdrawal Methods | Cryptocurrency wallet or external accounts |
Security Features | Multifactor authentication and encryption to protect user accounts and transactions |
User Interface | User-friendly and straightforward interface |
Mobile App | Android and iOS. |
Pros:
Cons:
Features:
My experience with Paybis was straightforward; the platform does not have the conventional limit and market orders interface with an intuitive trading interface. The platform is more of a swap function; pay using your card and receive crypto in your wallet. The reverse happens when selling crypto.
Here is how to trade on the platform:
The verification process took me about 5 minutes. Once completed, your cryptocurrency purchase will be processed. I would not recommend the platform to advanced traders; however, it is a great option for beginners to learn their way around the crypto landscape.
Rating:
Centralised exchanges (CEXs) and decentralised exchanges (DEXs) are two sides of the same coin. The two have different architectures, but all seek to perform the same function. So why would you pick a CEX over a DEX? Or vice versa.
CEXs are centralised, meaning they have a hierarchical structure where people at the top have absolute control over the platform. The platforms act as intermediaries who ease interaction with the blockchain. They provide a platform where you can sign up, entrust them with your digital assets, and connect you to more market makers and diversification opportunities. Their services come at a cost, which they deduct as transaction fees or commissions. These features make the platforms popular among both beginners and advanced traders. Conversely, security and using your funds by the platform are significant concerns. The platforms are susceptible to hacks and misappropriation of customer funds.
DEXs are decentralized, meaning there are no intermediaries. Transactions occur on-chain, i.e., directly on the blockchain.
Innovative models allow users to provide liquidity on these platforms in return for incentives. The codes for these platforms are generally in the public domain, encouraging critic and innovative feedback.
Since the platforms are on-chain, users hold their private keys and sign (approve) transactions directly on their wallets. DEXs prioritize anonymity since they don’t require you to sign in. Instead, you just authorize a transaction to connect your wallet with the platform.
On the flip side, DEXs are complex platforms. They are suitable for advanced traders who know how blockchain operates and the dynamics of self-custody wallets.
The platforms are also prone to hacks resulting from vulnerabilities in their code.
The choice between a CEX and a DEX hinges on several factors. These include trading goals, individual preferences, and expertise. Beginners should opt for CEXs. DEXs have a more extensive portfolio of listed cryptocurrencies but can be problematic due to low liquidity.
In the UK, crypto exchanges are regulated by the Financial Conduct Authority (FCA), which oversees their operations.
The FCA ensures that financial markets, including those for cryptocurrencies, are fair and transparent. To this end, they require all UK-based cryptocurrency businesses to comply with regulations such as the ‘Travel Rule,’ a part of the Money Laundering Regulations 2017 that aims to prevent illegal activities through information sharing.
Under these regulations set forth by the FCA guidance on crypto assets financial promotions (FG23/3) practical from October 2023, regulated exchanges in the UK must adhere to standards related to anti-money laundering (AML), counter-terrorist financing (CTF), and customer care practices – making them safer for consumers.
Recent changes have impacted certain products like leverage crypto CFDs explicitly offered to retail clients within this market segment. This impact is because brokers or similar entities operating under strict regulation cannot provide said products moving forward.
While the above are the best crypto exchanges in the UK, they are not immune to exploits. Here is a quick record of such occurrences:
Gemini:
Bitstamp:
Coinbase:
Revolut:
Crypto.com
While these incidents have occurred, the exchanges have taken proactive measures to address the challenges, including plans to reimburse affected users.
The UK crypto trading market presents a wide range of options, each with unique qualities and strengths. From Bitstamp’s high liquidity to Uphold’s altcoin variety, MEXC’s low fees, and Crypto.com’s offerings variety, an exchange caters to every trader’s needs.
Exchanges like eToro, Gemini, Paybis, and Revolut offer secure trading environments and innovative features for enhanced trading experiences.
When selecting an exchange in this ever-evolving crypto market landscape, it is essential to consider factors like security measures, rules imposed by regulatory bodies, costs associated with transactions, varieties of cryptocurrency offered, and user-friendliness ratings from clients.
Besides, this understanding should extend to centralised versus decentralised platforms, the value placed on safety precautions taken by these mediums, and the structure behind the fee collection process. These considerations equip traders to make informed decisions while navigating UK crypto exchange markets.
Such dynamism will continue shaping a captivating prospectus for investors and vendors, encouraging constant transformation within the industry.