We have conducted a comprehensive evaluation and ranking of the top nine cryptocurrency exchanges in the UK. This ranking considers various factors, including the range of supported cryptocurrencies, regulatory compliance, fees, accepted payment methods, user-friendliness, and more.
Read on to begin using a UK Bitcoin exchange regulated by the FCA in only five minutes.
Below is the updated list of the nine best cryptocurrency exchanges in the UK for 2023:
If you’re unsure which UK cryptocurrency exchange to choose, read our detailed reviews of the listed providers.
Reviewing the UK’s Top Bitcoin Exchanges
The leading cryptocurrency exchanges in the UK offer a wide range of cryptocurrencies.
They also have low fees and accept debit/credit cards and e-wallets. Additionally, these exchanges adhere to strict regulations.
1. eToro – Overall Best Cryptocurrency Exchange in the UK (FCA Regulated)
To buy Bitcoin and other cryptocurrencies safely, choose a regulated exchange or a top UK Bitcoin broker. eToro, regulated by the FCA, SEC, ASIC, and CySEC, stands out. eToro, founded in 2007, boasts a user base of 30 million individuals.
Setting up an account is easy, and deposits below €2,000 (around £1,700) do not require ID upload.
eToro quickly processes deposits from UK debit/credit cards, PayPal, Skrill, and other e-wallets. However, bank transfers may take a day or two to complete.
eToro charges a low deposit fee of 0.5% on GBP payments, unlike other UK cryptocurrency exchanges. eToro also excels in its fee structure, imposing a 1% fee on cryptocurrency purchases and sales. This fee applies to all 80+ coins offered on the platform.
eToro offers popular alternatives to Bitcoin, such as Dogecoin, Decentraland, Bitcoin Cash, Ethereum, and Cardano. eToro also provides a mobile app, allowing UK investors to trade cryptocurrencies while on the go.
The app is available for both iOS and Android devices.
eToro has a top cryptocurrency wallet app in the UK for investors to safely store their crypto tokens. Moreover, the eToro wallet allows users to make GBP deposits without any fees.
UK residents can trade forex, indices, and commodities using contracts-for-differences on eToro with a low £8 deposit.
2. Coinbase – Popular Cryptocurrency Exchange for Beginners, Supports Debit Cards
Coinbase, launched in 2012 and used by over 100 million investors, is suitable for beginners. However, it’s important to note that Coinbase charges relatively high fees.
When UK investors use a debit card to buy crypto on Coinbase, they will face a 3.99% trading commission fee. This fee is considerably higher than the 0.5% fee charged by eToro. Moreover, a 1% trading commission applies when buying or selling cryptocurrencies on Coinbase.
Coinbase prioritises security, with mandatory two-factor authentication for logins and extra safeguards when logging in from an unfamiliar device. The exchange stores 98% of customer crypto assets in cold storage for extra safety. Coinbase has a mobile app acting as a crypto wallet, accessible on both iOS and Android.
3. Binance – Trade Hundreds of Cryptocurrencies with a 0.1% Commission
Binance, established in 2017, is the world’s largest crypto exchange with many users and high trading activity. Ideal for UK traders actively trading over 350 coins with low fees.
Standard trading commissions for pairs start at 0.1% per trade, with fees decreasing as trading volume increases. Paying commissions in BNB tokens, native to Binance, can also secure a 25% discount.
Binance accepts certain UK debit/credit cards for instant processing after a quick KYC process, at a 1.8% fee. Depositing money through a UK bank transfer is cheaper. The fee for this service is only £1. Furthermore, they credit the payment within 5-10 minutes.
Binance provides three in-house wallets to safeguard your crypto. The web and mobile wallets are custodial, offering cold storage, two-factor authentication, and SAFU insurance.
Binance’s Trust Wallet app operates in a decentralised manner.
4. OKX – Low-Cost Cryptocurrency Exchange with Passive Income Tools
OKX is a cheap crypto exchange with many digital currencies like Bitcoin, Dogecoin, Bitcoin Cash, Stellar, Filecoin, and Polygon. OKX charges only 0.1% per trade for buying and selling cryptocurrencies, with fees decreasing as trading volumes increase. OKX offers an advanced trading suite with various tools, including integration with TradingView for technical indicators and drawing tools. It helps new and experienced traders, allowing them to buy with a debit/credit card for at least £9.
OKX keeps its debit card fees undisclosed, which may imply their inclusion in the cryptocurrency’s price. OKX offers passive income with crypto savings accounts, providing an estimated 10% APY for Tether and USD Coin, and 5% for Bitcoin and Ethereum. These rates are available on a flexible term basis, excluding the need to lock crypto assets away.
Staking is also available, offering higher APYs with a 120-day lock-up period. OKX offers entry to a decentralised exchange and a wallet that’s non-custodial.
5. Huobi – Buy and Sell Over 500 Cryptocurrencies with Low Fees
Huobi is a popular exchange in the UK for those interested in smaller or new coins. They have a competitive fee structure, starting at 0.2%, and you can further lower these fees by holding Huobi Tokens. You can use a debit card for instant purchases of Bitcoin, Ethereum, XRP, and Tether.
6. Crypto.com – One of the Best Apps for Buying and Selling Crypto.
Crypto.com is a leading choice for mobile trading in the UK, offering a mobile app for both iOS and Android users.
You can deposit currency with a debit card or a bank transfer. Bank transfers are fee-free but may take a bit longer.
Purchases made with a debit card are immediate but subject to a 2.99% fee. Very efficient.
Crypto.com is user-friendly and supports over 250 cryptocurrencies. Trading commissions are highly competitive, starting at just 0.0750% per trade, with discounts for higher trading volumes. Crypto.com also provides crypto savings accounts and loans.
7. Gemini – Great Cryptocurrency Exchange for Security and Storage
Gemini, while charging relatively high fees, is a top choice for security and trust in the UK. A US-based exchange entered the UK market in 2020 and remains popular among long-term investors.
Gemini is well-regulated and prioritises security, including insurance coverage, SOC certifications, two-factor authentication, multi-sig protection, and cold storage. Debit card payments incur a 3.49% fee, while using PayPal to buy Bitcoin in the UK results in a 2.50% fee. UK investors are also subject to a 1.49% standard trading commission.
8. CEX.io – Multiple Cryptocurrency Trading and Earning Services Since 2013
CEX.io is another established UK Bitcoin trading platform option, launched in 2013 and serving over 4 million traders. It supports more than 70 cryptocurrencies, with commissions starting at 0.15% per trade.
The platform accepts multiple payment methods, but it charges relatively high fees. For example, debit/credit cards, PayPal, Skrill, and Google/Apple Pay can incur fees of up to 3.99%. CEX.io also provides savings accounts, staking with up to 5% and 30% APY, crypto loans, a wallet, and a mobile app.
9. Gate.io
Gate.io is a top UK exchange with access to over 1,400 cryptocurrencies, including new projects.
Gate.io provides zero-commission trading for selected coins, including Bitcoin and Ethereum. The standard trading fees begin at 0.20% per trade, but owning GT tokens can bring them down to 0.15%.
Gate.io processes debit/credit card payments through third-party providers, which leads to fluctuating fees. Additionally, the exchange provides opportunities for crypto savings, loans, and dual investments.
What is a Cryptocurrency Exchange?
Are you seeking to acquire Bitcoin within the UK? You can do this by using cryptocurrency exchanges.
These platforms let UK residents buy and sell digital assets such as Bitcoin, Dogecoin, and Litecoin.
In many ways, cryptocurrency exchanges operate similarly to stock trading platforms.
Investors first need to register an account with their chosen cryptocurrency exchange and then fund their account.
Cryptocurrency exchanges serve as middle man between investors and the digital asset markets.
Some exchanges connect buyers and sellers on one platform, while others act as brokers, selling digital assets to users (this is called P2P trading)
After buying cryptocurrency, investors can choose to store it on the exchange or move it to a personal wallet.
When selecting the finest UK cryptocurrency exchange, consider regulation, available cryptocurrencies, fees, payment methods, security, and user-friendliness.
Here are the key factors to focus on when choosing a cryptocurrency exchange in the UK:
Liquidity means how easily you can buy or sell a cryptocurrency without changing its price too much. Exchanges with high liquidity offer a smoother trading experience, as there are more buyers and sellers in the market. This can help you get better prices and execute trades more quickly.
Some exchanges offer trading tools such as charts, market data, and order types. These tools can help traders make informed decisions. Examples of order types include limit orders and stop-loss orders. Consider whether these tools are available on the exchange you’re interested in.
Additionally, you should be aware that tax on profits may apply to your crypto assets.
Exchanges may ask for your ID and details about where your money comes from to follow anti-money laundering rules. Always safeguard your digital assets and be ready for the unexpected. This means securing your private keys and using trusted wallets for storage.
Once you’ve thought about these factors and are prepared to invest, you can select the best cryptocurrency exchange for your needs.
Stay informed and make smart decisions based on your risk tolerance and investment strategy.
If you are ready to take the first step towards financial freedom, and be surrounded by other likeminded investors…
The Crypto Connect is waiting.
Take the first step, and Join now!
Follow us on Instagram and keep up to date on our services and latest industry news.
