A pick of the best Crypto Exchange UK

Our Crypto Exchange UK List 2022

Before we dive in and review the top crypto exchanges in the UK, here’s a brief overview of your options within the market:

1. eToro – Overall Best Bitcoin Exchange UK
2. Coinbase – Reputable UK Bitcoin Exchange with FCA Authorisation
3. Binance – Best Crypto Exchange UK for Asset Selection
4. Huobi – Great Bitcoin Exchange for Staking
5. Bybit – Best UK Crypto Trading Platform with Various Markets

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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Best Exchange for Crypto Reviewed

There are numerous UK Bitcoin exchanges available to traders these days, each offering its own fee structure and features. To help streamline the decision-making process, we’ve narrowed down the selection to our top five platforms – all of which are reviewed in detail below.

1. eToro – Overall Best Bitcoin Exchange UK with Tight Spreads

Through our research and testing, we’ve found eToro to be the best crypto trading platform in the UK. Though you can’t trade with BTC CFDs, you can buy the underlying asset. Most people will have heard of eToro as it is one of the largest online brokers worldwide, operating in over 140 countries and with over 23 million registered users. eToro is considered highly safe for UK-based traders, as the platform is regulated by the FCA, ASIC, and CySEC – whilst also offering protection via the FSCS.

When you buy Bitcoin with eToro, you won’t have to pay any hefty transaction fees to open a trade, as eToro only charges the spread - the difference between the buy and sell prices on an asset. Notably, eToro offers a total of 43 cryptocurrencies to trade, including some of the best crypto to invest in, making it easy to create a diversified portfolio.

Deposits can be made using a credit or debit card, bank transfer, and e-wallet – with PayPal and Neteller both accepted by eToro. In terms of features, eToro offers a fantastic 'CopyTrader' feature, allowing users to copy the trades placed by other consistent eToro traders automatically. Finally, all eToro users have access to a free crypto wallet that supports over 150 cryptocurrencies and protects your BTC holdings with advanced security features, such as DDoS protection and standardisation protocols.

>>>Visit eToro<<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Coinbase – Reputable UK Crypto Exchange with FCA Authorisation

Coinbase is one of the biggest crypto exchanges globally, boasting over 73 million users in more than 100 countries. This crypto exchange is authorised to operate within the UK, adding a high level of security for traders. In terms of asset selection, Coinbase offers over 100 cryptocurrencies to invest in, along with ERC-20 tokens and crypto to crypto trading pairs. Coinbase is even set to launch an NFT marketplace shortly, adding another exciting feature to the platform.

When you buy Bitcoin (or any other crypto), you’ll have to pay the spread and a transaction fee. This fee will vary depending on your payment method and trade volume, so be sure to review this for each trade. The trading experience with Coinbase is exceptional, as the web-based platform and the mobile app both have a sleek interface with clear instructions on how to trade. Finally, Coinbase also offers a free self-custody crypto wallet app to all users, supporting over 4000 assets and allowing access to various decentralised exchanges.

Visit Coinbase Crypto exchange.

Your capital is at risk.

3. Binance – Best Crypto Exchange UK for Asset Selection

Binance is the best cryptocurrency exchange in the UK for asset selection, as this platform offers over 500 cryptocurrencies to trade. Within the selection, users can invest in Bitcoin UK, along with a vast array of altcoins and ERC-20 tokens. Notably, Binance offers some of the lowest trading fees in the industry, with users only having to pay a 0.1% fee on either side of the trade. This fee can be reduced by 25% by buying and holding BNB, Binance's native token.

The trading experience with Binance is suitable for all traders, as the platform features an easy-to-navigate dark interface with real-time charts and a selection of technical indicators. To add flexibility to your trading, you can even use multiple order types, such as stop orders and limit orders. Furthermore, Binance prides itself on rapid trade execution, ensuring you get the best rates within the market. Finally, you can even buy crypto directly using your credit or debit card, with Binance only charging a fee of 1% for a limited time!

Visit Binance Crypto exchange.

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4. Huobi – Great Bitcoin Exchange for Staking

If you're looking for one of the best cryptocurrency exchanges in the UK for staking, then Huobi is worth considering. Huobi is a Singapore-based exchange that offers various trading options, including the spot market and multiple derivatives markets. The platform offers up to 5x leverage on crypto trading, although the availability of this leverage will depend on your location. Furthermore, Huobi has a dedicated ‘Learn’ section, with hundreds of articles designed to get new traders up to speed.

Huobi charges no fees to fund your account with cryptocurrency and only charges a 0.2% maker and taker fee when placing trades. Notably, you can reduce this fee by holding Huobi Token (HT), with discounts of up to 65%, depending on how much you own. Huobi even offers functionality to use trading bots, allowing you to automate your crypto experience. Finally, Huobi makes it easy to stake your holdings, with up to 15% APY offered on specific tokens.

Visit Huobi Bitcoin exchange.

Your capital is at risk

5. Bybit – Best UK Crypto Trading Platform with Various Markets

Rounding off our list of the top UK crypto trading platforms is Bybit. Bybit has built up a stellar reputation due to its options within the derivatives markets, offering investors a way to trade futures and inverse perpetual contracts. Users can employ up to 100x leverage in certain jurisdictions and even short sell cryptocurrencies if they wish. In terms of fees, Bybit uses a maker-taker structure, with taker fees quoted at 0.075% and maker fees offering a rebate of -0.025%.

Bybit also offers flexible staking, offering stable APY’s whilst allowing you to unstake your holdings at any time. In terms of the trading process, Bybit’s platform is similar to Binance in the sense that it has a sleek interface and extensive charting options with multiple timeframes. You can even see depth-of-market data on the platform, which can help inform trading decisions. Finally, Bybit even offers a FIAT gateway that allows you to buy crypto instantly using your debit or credit card – with a fee that is set by the third-party provider.

Visit Bybit Bitcoin exchange.

Your capital is at risk

What is a Crypto Exchange?

Before creating an account with these sites, it's wise to understand what a crypto exchange is. Essentially, crypto exchanges pair buyers and sellers in the cryptocurrency market together, receiving a fee in return for their services. Exchanges often allow market orders, which finds the best price in the market at that moment, or limit orders, which enables the trader to buy or sell when their chosen asset hits a specific price.

The great thing about crypto exchanges is that they allow users to fund their accounts with FIAT or digital currency. So, if you held Bitcoin in an external crypto wallet, you could send it to your chosen crypto exchange and use your BTC as your trading balance. Most exchanges will require users to go through some security checks before being able to function in the market, which usually involves providing some personal information and verifying their identity.

How to Choose the Best Crypto Exchange UK for You

Choosing between the best cryptocurrency exchanges UK can be tricky, especially since each one has its own unique set of features and attractions. To make the selection process easier, found below are six of the most important things to consider when conducting your research.

Regulation

One of your main priorities should be to review who regulates your chosen trading platform. The primary regulator in the UK is the FCA, which provides investor protection to those who trade the financial markets. Ideally, you'll want to partner with a Bitcoin exchange that is regulated by the FCA, although other regulators such as the ASIC or CySEC also provide great credibility.

Supported coins

Although you may wish just to trade Bitcoin, it's wise to choose an exchange that offers a selection of coins. For example, eToro offers 43 different cryptocurrencies to trade, enabling users to create a diversified portfolio. Furthermore, large crypto exchanges such as Binance and Coinbase also offer crypto-to-crypto trading pairs and ERC-20 tokens, boosting your trading options.

Fees

Trading fees should definitely be considered. Most of the time, these fees will come in one of three forms:

• Transaction Fee – This is a fee charged when you place a trade. This will be quoted as a flat fee or as a percentage of your trade size.
• Spread – This is the difference between the bid and ask prices on an asset. Spreads can either be fixed or variable, with the latter fluctuating depending on market conditions.
• Maker-Taker Fee – Exchanges that use the maker-taker model will charge a fee on both sides of the trade. Taker fees will be higher, as these relate to orders with immediate execution, whilst maker fees will be lower since these relate to limit orders that provide liquidity.

Aside from trading fees, keep an eye out for non-trading fees such as deposit, withdrawal, currency conversion, and inactivity fees, as these can add up over time. To learn more about Bitcoin trading if you’re interested to try that out rather than simply holding it as a long-term investment, reach this guide to the best Bitcoin trading platforms.

Wallet

Due to the digital nature of cryptocurrency, choosing an exchange that offers a crypto wallet is ideal for storing your holdings. Many of the exchanges on our list offer a free crypto wallet for users, which can be logged into using your broker/exchange credentials. Furthermore, some wallets (such as eToro’s) even allow you to exchange one coin for another directly within the wallet’s interface.

Trading tools

If you're looking to buy BTC (or any crypto), charting tools are crucial to your trading success. Using a platform with built-in charting facilities can remove the need to use a third-party service, which often creates friction in the trading process. The best crypto exchanges offer a selection of technical indicators and various order types for traders to employ. 

Best crypto exchange app

Finally, choosing a trading platform with a suitable mobile app can make all the difference in your trading success. Platforms such as eToro can be considered among the best crypto exchange app, as it allows traders to use a web-based platform and a mobile app, with trades synchronising across both platforms. Most mobile apps will allow you to buy and sell crypto in just a few taps, which is great if you’re looking to trade on the go.

The best crypto exchange app should have the following features:

• Low spreads/fees
• Technology held (ERC20, BEP20, etc)
• Possibility to import/export your private keys
• Support 24h
• Ability to withdraw funds to your bank account

If you find all of these in one place, you can be sure that it will most likely be one of the best crypto exchange apps available today.

Best Crypto exchange for Day Trading

The best Crypto exchange for day trading is the exchange where you can make fast buy and sell orders, as well as using leverage. Beware though, your capital is at risk when you leverage your position, and you could lose everything within minutes. You should really have a lot of experience before using leveraged positions.

One of the best crypto exchange for Day trading is eToro. Reason for that is because of the overnight fees which are quite low, and withdrawal fees to your profit, which is only $5 USD.

eToro has a range of many cryptocurrencies and stocks available for day trading.

How to Get Started with the Best Bitcoin Exchange UK

Finally, let’s discuss the process of investing with one of the best cryptocurrency exchanges UK. By following the four steps below, you’ll be able to invest in Bitcoin with our recommended broker for beginner traders, eToro – all in less than ten minutes!

Step 1 – Create an eToro Account

Head to the eToro website on your browser and click ‘Join Now’. Enter your email address and choose a username and a password to open your account. Alternatively, you can complete this process on your smartphone by downloading the eToro app from the App Store or Google Play.

Step 2 – Verify your Identity

Due to FCA regulations, eToro users must complete some verification checks before being able to trade. Luckily, this can all be achieved online and only takes a few minutes. Click the 'Complete Profile' button and enter the personal details required for the KYC checks. You'll also have to upload proof of ID (driver's licence or passport) and proof of address (bank statement or utility bill).

Step 3 – Make a Deposit

The minimum deposit at eToro is only $50 (£37), with a 0.5% conversion fee if depositing in GBP. In terms of deposit methods, eToro accepts the following for UK-based traders:

• Credit card
• Debit card
• Bank transfer
• PayPal
• Skrill
• Neteller
• Klarna
• Trustly

Step 4 – Buy Bitcoin

Type ‘BTC’ or ‘Bitcoin’ into the search bar and click ‘Trade’ when it appears in the drop-down menu. An order box will then appear, much like the one below. In this box, enter your trade size (minimum of $10), check everything is correct, and click ‘Open Trade’.

Best Bitcoin Exchange UK – Conclusion

To summarise, this article has explored the best Bitcoin exchanges UK in detail, covering the top options in the market and highlighting their features. As you can see, there’s never been a better time to trade BTC in the UK.

If you’re looking to buy Bitcoin right away, we’d recommend signing up with eToro. Thanks to FCA regulation and tight spreads, eToro is one of the best UK crypto exchanges for beginners interested in investing in Bitcoin. Furthermore, due to eToro’s CopyTrading features, traders looking to automate their investments have an excellent degree of flexibility.

>>>Visit eToro<<<

 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider.

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

This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient's investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results.

FAQs

How do cryptocurrency exchanges work?

Cryptocurrency exchanges act as the ‘middleman’ between buyers and sellers in the crypto market. These exchanges allow users to trade cryptos using digital currencies or FIAT currencies, usually charging a small fee for facilitating the trades.

What crypto exchanges can I use in the UK?

Most of the exchanges in this guide can be used in the UK. We recommend using eToro if you are a UK trader, as you’ll receive investor protection through FCA regulation.

What is the best Bitcoin trading platform in the UK?

As noted in this guide, eToro is our pick for the best Bitcoin exchange UK. Offering over 40 coins to invest in, eToro is ideal if you’re looking to buy BTC or create a crypto portfolio.

What is the cheapest Bitcoin exchange UK?

The cheapest Bitcoin exchange in the UK is eToro, as users do not have to pay any hefty transaction fees when placing a trade. 

What is the safest crypto exchange in the UK?

We’ve found that eToro is also the safest crypto exchange, as the platform is regulated by the FCA. Furthermore, eToro is covered under the FSCS, compensating investors up to a total of £85,000 in the unlikely event that eToro becomes insolvent.