The United Kingdom has a multitude of cryptocurrency exchanges, offering a wide range of services. Choosing the 10 best cryptocurrency exchanges in the UK among this plethora of options is a little difficult considering the competition they put forward, but not impossible. So, here is a list of the best exchanges as well as the best crypto apps for beginners. Read on!
1. Binance
Binance was founded in 2017 by Chanpeng Zhao and is currently one of the largest cryptocurrency exchanges in the world. The platform has a native coin known as the Binance coin and operates on a parallel network chain called Binance Smart Chain.
In the UK, Binance allows users to buy crypto with GBP. The platform is not regulated by any authority and is known for its low trading fees on trades using funds from the users’ account balances.
2. Coinbase
Coinbase offers separate platforms for amateur and professional traders. It is one of the best crypto apps for beginners with its user-friendly interface that is easy to navigate and the educational resources it provides guide beginners in the crypto space. If you use GBP in Coinbase, they will be converted to USD to determine your price tier.
3. Kraken
Kraken has a wide range of supported cryptocurrencies including Bitcoin, Ethereum, and Litecoin. The platform offers margin trading and margin trading which are advanced trading features targeting experienced traders.
Kraken, being one of the best cryptocurrency exchanges in the UK, supports GBP as an account currency. It includes tutorials, news, and video podcasts that constitute the knowledge base created for beginners and professionals alike.
4. Crypto.com
This one is a comprehensive cryptocurrency platform that provides an array of services to its users. It includes buying, selling, staking, trading, lending, and spending assets, with an iOS as well as Android-optimized mobile application that lets users manage their cryptocurrency portfolios. The platform does not have withdrawal fees and has a native VISA card.
5. CEX.io
CEX.io was created in London in the year 2013. The crypto exchange supports fiat currency and the users can trade in GBP, USD, and EUR, making it convenient to trade using local currency.
CEX.io is regulated by FCA and complies with KYC and AML norms. They add to convenience by offering a mobile app that lets the users check their portfolios any time they want.
6. CoinJar
CoinJar operates primarily in the United Kingdom and offers fiat currency support that allows the user to trade using GBP. The users can deposit and withdraw funds for free on the platform, but only through bank transfers.
The platform has both desktop as well as mobile versions for the users to choose from. The exchange is regulated by FCA, which gives it more credibility among users.
7. eToro
eToro, as a social trading platform, offers access to over 5ooo financial assets including stocks, cryptocurrencies, commodities, ETFs, and so on. The platform presents an engaging system where the users can interact with each other.
eToro has a CopyTrader feature that replicates the trades of top investors, lending a hand to beginners. The platform also offers great educational resources benefiting novice traders to create a knowledge base on the crypto industry.
8. Currency.com
Although the platform offers services in the UK, it does not support the fiat currency, nor is it regulated by the FCA. The exchange has a comparatively low trading fee and it protects the traders against a negative balance.
It has functional and problem-free software that enables faster trading. It charges deposit and withdrawal fees, both of which vary depending on the method selected.
9. OKX
OKX supports over 400 different tokens, apart from its native token, the OKB token. The platform focuses on staking and this allows the users to earn an additional income, especially with certain currencies earning over 100% annual interest rate.
OKX exchange offers high liquidity compared to other exchanges, ensuring the execution of trades at competitive prices even at times of high market volatility.
10. Bitstamp
Bitstamp is a Luxembourg City-based cryptocurrency exchange that also operates in the UK, is regulated by FCA, and complies with AML and KYC rules.
This is one of the oldest exchanges in the world, offering fiat currency support and high liquidity. The exchange was founded in 2011 and is reputed for reliability, security, and its user-friendly interface.
Conclusion
This doesn’t conclude the list of the best cryptocurrency exchanges UK, but this is almost it. If you are a beginner, it will require a lot more research to find an exchange that matches your expectations. Also, even if you are a seasoned trader, you must stay updated on the developments in the industry to not make mistakes and suffer losses.
