12 Best Cryptocurrency Exchange in the UK 2021

Bitcoin and cryptocurrency have quickly started to gain popularity among many investors in recent times. But you’ll need to have a cryptocurrency exchange in order to buy, sell, or exchange Bitcoins/cryptocurrencies in the UK. An industry as busy and popular as this one naturally will attract plenty of companies and platforms offering the services of a cryptocurrency exchange for you to buy and sell Bitcoin and other cryptocurrencies using regular fiat money (i.e. dollars, pounds, and euros). The best cryptocurrency exchanges not only let you buy and trade cryptocurrencies, but they also let you store your virtual wealth conveniently in an e-wallet, over which you have more control.

Investing or trading in Bitcoin or other cryptocurrencies can be intimidating at first, especially with so much news about scams and people losing money. While it is true that many scams have happened and will continue to happen, it has never been so simple to invest in and safely trade cryptocurrency as you can today. Obviously, the foremost concern when trading and purchasing Bitcoin, or other cryptocurrencies, is safety and security.

As mentioned earlier, in such a buzzing industry, there is certainly no shortage in the number of cryptocurrency exchange options available in the UK for you to consider. With so many choices, you might even find it rather complicated to pick the best cryptocurrency exchange UK for you. Fortunately, our team of experts have scoured through the net and reviewed all the best cryptocurrency exchanges in the UK and we’re here to tell you where you can find them and what’s good about them.

Features to Look for When Choosing a UK Cryptocurrency Exchanges

Before we dive into our list of the best cryptocurrency exchanges in the UK, let us talk a little about what you will first need to know when choosing the best cryptocurrency exchange. Here are a few factors that you should keep in mind when comparing different types of cryptocurrency exchanges you might consider using.

Speed

You might have different needs in terms of how speedy the transactions are and this will mainly depend on your situation as well as the type of investor you are. Those who trade in cryptocurrency frequently may want to have a crypto exchange with quicker transactions. For this, it is important for you to read up on the cryptocurrency exchanges’ policy on how long the trading company will take to complete a transaction before you sign up for anything.

Risk

Although you are dealing with virtual or crypto exchanges, the transactions do involve real money. Hence, it is always recommended for you to check out whatever security features or measures they’ve taken to ensure the platform, as well as your money, is secure before signing up for an exchange.

Prices

Just like any investment trading company, you need to take note of the markup over the spot price which the currency exchange charge as this could end up with you losing a ton of money if you’re not careful enough. You might end up losing all the profits generated from paying the currency exchange rate. So, do check out different cryptocurrency exchanges and look out for the ones with the best rates possible for cost-effective transactions.

Location

Another important factor that might play a crucial role in your decision is to know where your exchange is located, especially since certain cryptocurrency exchanges require you to be in a specific geographical area in order to access or trade with them.

History and Reviews

As with anything you buy or subscribe to online, it is important for you to look up the history and reviews of different cryptocurrency exchanges before signing up to figure out how reliable they are. Here are a few questions you can keep in mind while searching:

  • Have they been involved in any scandals in the past?
  • Do they have high ratings and glowing reviews from satisfied customers?

These questions will act as a good guide for you to decide whether they are the right cryptocurrency trading platforms for you to trust your money with.

Coins

There are different types of cryptocurrencies available and different cryptocurrency exchanges support different coins. From Bitcoin to Ripple, Ethereum, and everything in between. So, do check out which coins the exchange supports to make sure you’re able to buy and trade your desired cryptocurrency with them.

The 12 Best Crypto Exchanges in the UK

Now that we’ve gone through a few factors to consider when deciding the best cryptocurrency exchanges in the UK, let’s dive straight into our top choices today.

eToro

Country: Israel
Trading Fees: Depends on cryptocurrency

eToro is an Israeli Fintech startup that has been getting a lot of recognition as an excellent social trading broking site since its establishment in 2007. With almost 5 million investors worldwide, eToro has managed to establish and solidify itself as a reputable brokerage company.

One of the main reasons for their business growth is their decision to add a trade copying feature on their platform which helps investors eliminate the need to do extensive amounts of research and to consistently watch the market’s movements. From there, you may simply choose a popular and established investor that you like and pick the option to completely copy a trade that they make. If the trade is successful, you receive the profits, and the investor you trusted received an additional bonus. This win-win situation ensures everybody is happy and incentivized to make smart trades and transactions.

Aside from the possibility of social trading, eToro is authorized and regulated by the Financial Conduct Authority (FCA) in the UK, which acts as an element of safety guarantee. However, as eToro is a multi-asset trading platform that offers CFD assets trading options, the company can present a high-risk option for traders who do not have a thorough understanding of CFDs.

Nonetheless, eToro also offers a wide variety of cryptocurrencies for you to choose from in a fluid and easy-to-use user interface experience. The crypto exchange also offers 0% fees on stock trading for investors and good transaction rates.

One of the drawbacks of using eToro is their customer service. It is noted that their customer support department could use some improvement in terms of the support itself, response times, and helpfulness. Another big thing to mention in regards to e-Toro is how often their platform tends to freeze, seemingly without any concrete reason. Though this may simply be due to technical difficulties or server maintenance, it still lends itself to be a nuisance to many people.

Pros

  1. An established reputation within the industry.
  2. A wide variety of cryptocurrencies to choose from.
  3. Integrated trade copying function.

Cons

  1. Poor customer support.
  2. Platform tends to crash.

CoinJar Exchange

Country: UK
Currency: GBP
Trading Fees: 0.25%
Available Cryptocurrencies: 13 including Bitcoin, Ethereum, Ripple, and more

CoinJar is one of the best cryptocurrency exchanges in the UK that’s trusted by over 400,000 users with over $1.5+ Billion traded in cryptocurrency. The cryptocurrency exchange is even backed by some of the world’s most forward-thinking investors including Digital Currency Group, Boost VC, and BlackBird Ventures.

CoinJar also appears to be a safe cryptocurrency exchange that includes bank-like security features to protect client funds with 90% of user funds stored in offline cold wallets located at secure locations for maximum safety. The exchange also protects its clients’ information via layers of security measures including data encryption, Transport Layer Security (TLS), periodic security audits, and best practice organizational security.

Many people using CoinJar have compared their experience to just like using their regular banking system, meaning that this may just be the best cryptocurrency exchange in the UK for beginners. Not only is the platform user interface simple to use, but the company also has an excellent customer support team to help you through any issue you may encounter.

In terms of security, CoinJar uses multiple strategies to protect their customer’s assets and information, including data encryption, Transport Layer Security, periodic security audits, and best practice organization security. The trading website even uses advanced machine learning techniques to recognize suspicious logins, account takeovers, and financial fraud. The CoinJar uses a cold storage solution to store at least 90% of their customers’ digital assets stored offline in geographically redundant, secure locations.

With these features, it is not surprising to see CoinJar quickly rising up to be one of the most popular exchanges in the UK. This crypto exchange provides an excellent platform that is easy to use with some of the lowest fees in the industry. On top of that, the crypto exchange even comes with an Android and iOS app for those interested to buy and sell cryptocurrency on their mobile. CoinJar even accepts plenty of payment methods for you to top up funds into your account to make buying your first cryptocurrency as smooth sailing as possible.

Pros

  1. Confidence-boosting base of 400,000+ users.
  2. Reputable and well-established company.
  3. Innovative crypto products.
  4. Variety of deposit methods.
  5. Mobile trading app for both Android and iOS platforms.

Cons

  1. Limited user nationalities currently supported.
  2. Limited charting features.
  3. Some of the fees charged appear steep next to other exchanges.

CEX.io Exchange

Country: UK
Currency: GBP, USD, EUR
Trading Fees: Depending on trading volume
Available Cryptocurrencies: 70+ including Bitcoin, Ethereum, and more

CEX.io was founded in London, UK, and was originally a cloud mining provider. But in early 2015, the company decided to stop providing cloud mining services due to the low Bitcoin price at the time and solely offered its services as a cryptocurrency exchange platform. Since it’s based in the UK, CEX.io provides greater security, faster payments, and even the option to pay with GBP fiat currency.

CEX.io is one of the oldest exchanges out there and has managed to transform itself into a professional, fully regulated cryptocurrency exchange. For security purposes, every customer is required to provide detailed personal information, verify an email, as well as a mobile phone number to register an account. Not only does the company support multi-signature cold storage for customer coins, but it is partnered with trusted and reputable banks around the world.

CEX.io is also one of the few crypto exchanges that accept various payment methods such as Visa or MasterCard to fund the account. As for the supported cryptocurrencies, CEX.io allows users to trade more than 70 different crypto coins such as BTC, ETH, BCH, BTG, DASH, LTC, XRP, XLM, ZEC, MCH, BTT, and TRX. Aside from that, the cryptocurrency exchange is also known for having good support. The support section of their website has many FAQs and if that isn’t enough, you can easily contact their customer support team thanks to the email request form.

Pros

  1. Established exchange with good levels of security.
  2. Simple, intuitive, and minimalistic interface.
  3. Unlimited withdrawals.
  4. High trading volume.
  5. Mobile app version for on-the-go trading.
  6. Various payment methods.

Cons

  1. Relatively high fees.
  2. A limited number of currencies are supported.
  3. Getting in touch with them is not as straightforward as it should be.

ChangeNOW

Country: UK
Currency: Almost all
Trading Fees: 0.5 – 5%
Available Cryptocurrencies: 195+ including Bitcoin, Ethereum, and more

ChangeNOW is an excellent cryptocurrency exchange platform in the United Kingdom for experienced users that offers support for a similar amount of coins to Binance. So, if you’re looking for an alternative to Binance, then this is the perfect option.

ChangNOW is committed to building a trusting relationship with its clients with a clear policy towards the estimated rates. The platform ensures that you always get a maximum close to the amount stated before the exchange at the end of the transaction. Other than that, the service allows making the vast majority of transactions anonymous as it does not require any account sign-ups.

The platform also claims to be a limitless non-custodial exchange service that does not store your funds, making it incredibly safe and a great choice for both retail and high volume traders. Both the web platform and mobile app have a simple and easy-to-navigate interface that is suitable for both beginners and experienced users. Additionally, there are also many online reviews that boast their support team’s responsiveness and attentiveness. This means that you can trust that you will be left in great hands.

Pros

  1. No registration is required for anonymous trading.
  2. Non-custodial service that does not control your crypto assets.
  3. Picks the best rates at the market available at the moment of the exchange.
  4. No upper limits for the exchanges.
  5. More than 200 cryptocurrencies are listed and more than 40,000 pairs available.

Cons

  1. Fiat currency to crypto exchanges is a bit pricey.
  2. No crypto-to-fiat currency options are available.
  3. Price charts available but no other convenient tools for trading.

Coinburp Exchange

Country: UK
Trading Fees: Depends on the transaction
Available Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, EOS

While Coinburp crypto exchange UK does not support as many coins as the other exchanges listed, the platform’s strength lies in the simplicity and speed of its system. Just like the powerful CEX.io exchange, the company employs UK Faster Payments Service (FPS) for you to deposit fiat currency instantly from your UK bank account.

Coinburp Exchange claims to offer no fees for depositing and trading, But the exchange does add 1.5% to the exchange rate, just like high street travel currency exchanges add a premium to the interbank rate. Coinburp features a unique “UX-led product development process” with an “end-to-end user-centered design approach”.

As for the security, fiat currency on the platform is safeguarded by Coinburp’s banking partners, Enumis and BCB Group, both of which are FCA-regulated firms. The cryptocurrency assets are custodied with BitGo, which insures funds up to $100M against loss, hack, and insider theft. Furthermore, the company passes all the required checks when it comes to regulations and laws in the UK.

The downside to this cryptocurrency exchange is that it does not offer any other payment methods other than a cash deposit. Nonetheless, Coinburp is a user-friendly trading platform that really caters to the easy-in, easy-out market with extremely low fees overall. In short, though you won’t be doing any advanced trading on Coinburp, it is a good setup crypto exchange for those who want to get some common coins.

Pros

  1. UK-based trading company.
  2. Verification doesn’t take long.
  3. Simple and easy-to-use mobile app.
  4. Supports available via email, Telegram, and Facebook Messenger.
  5. Competitive exchange prices (1.5% above real exchange rate).

Cons

  1. A limited number of cryptocurrencies are supported.
  2. Cannot deposit GBP/EUR with a debit or credit card.
  3. GBP withdrawal fees seem high.

Coinfloor Exchange

Country: UK
Currency: GBP
Trading Fees: Depends on trade volume
Available Cryptocurrencies: Bitcoin, Ethereum

Coinfloor is one of the UK’s oldest and most experienced cryptocurrency exchanges with everything spot on. From support to security, and decent fee structure, this UK cryptocurrency exchange might seem to have it all. However, their targets are not beginners looking to dip their toes in the industry.

Founded in 2012, Coinfloor is a crypto-to-fiat exchange that supports only 6 cryptocurrencies. Although the platform is a UK-based cryptocurrency exchange that is primarily targeted at the UK market, Coinfloor accepts account applications from most other countries. The main selling point of the Coinfloor exchange is that they have good liquidity levels on GBP trading.

One thing to highlight is that the people who use Coinfloor exchange are those who have plenty of money and need a more personal touch to invest and trading cryptocurrencies. So, while this may not be the best exchange to get you started with, Coinfloor is the best choice for those who want to go big and need a more refined approach as the company has basically got everything you need covered under one roof.

Pros

  1. Supports GBP/BTC pairs.
  2. Accepts bank transfer deposits and withdrawals.
  3. Forces users to set up 2FA.
  4. Good FAQ help section.

Cons

  1. Only supports 6 cryptocurrencies.
  2. Expensive trading fees at 0.30%.
  3. No live chat or phone support.
  4. No debit/credit card or e-wallet deposits/withdrawals.
  5. Basic trading area and no mobile app.

Binance

Country: Global
Currency: GBP, USD & 41 Others
Fees: 0.1%
Available Cryptocurrencies: 200+ including Bitcoin and Ethereum.

Binance started out as a trading company operating in the United Kingdom under the name “Binance JE” which later closed down in November 2020. Today, Binance is one of the world’s biggest cryptocurrency exchanges that offer a global platform for users to trade and buy bitcoin with very low fees. It also provides good security, good support, a huge range of cryptocurrencies, and faster transactions.

Binance is a high-performance trading platform that’s capable of handling upwards of 1.4 million orders per order without suffering significant slowdowns. Still, the website has also experienced its share of technical issues including security vulnerabilities and unexpected maintenance needs.

On top of its high volume capability, the cryptocurrency exchange offers excellent exchange rates with a number of options available for you to transfer funds straight into your accounts such as bank transfer, wire transfer, or even credit card.

Although Binance is a basic platform, its interface is anything but “basic”. Binance is more suited for advanced users and is not recommended for beginners as their user interface requires a little more to get used to. But once you’ve gotten the hang of it, this is a great exchange for you to trade a wide range of cryptocurrencies. Binance has become the most popular cryptocurrency exchange in the world for good reason. It provides an excellent trading platform that is easy to use with the lowest fee in the industry.

Pros

  1. One of the most trusted brands in crypto.
  2. Best-in-class features with everything an advanced trader could want.
  3. Significant advantages when using the native Binance tokens such as decreased trading fees.
  4. Binance offers extremely low transaction fees, particularly when used with native NB tokens.
  5. Assets are insured in case of security breaches except for personal security issues.

Cons

  1. Not suitable for beginners and can be overwhelming for those new to crypto or trading.
  2. Does not support traditional payment methods.
  3. Does not give a comprehensive daily market analysis.

Coinbase

Country: United States
Currency: USD, GPB, EUR
Exchange Fees: 4%
Available Cryptocurrencies: 15+ including Bitcoin, Ethereum & Litecoin

Coinbase/Coinbase Pro was launched in San Francisco in 2012 and is the largest foreign exchange and it’s also another well-known crypto exchange across the world in terms of traffic, liquidity, and trading volumes. Other than a cryptocurrency brokerage, Coinbase also offers custodial services for cryptocurrency storage for institutions, cryptocurrency payments for businesses and has its own cryptocurrency, USD Coin.

One thing to take note of is that Coinbase insures all of the digital currency it holds online with less than 2% of customer funds online and the rest stored offline in cold storage away from possible online breaches. While the platform works fine and has solid security, their trading fees may just be on the edge of affordable and they have received some bad press over the years.

With that being said, this bitcoin exchange still works as it should and the company has even included all possible payment methods available to cater to its international client base, including those living in the United Kingdom. As for supported cryptocurrencies, this exchange supports 32 cryptocurrencies and 36 on Coinbase Pro.

Pros

  1. A solid variety of altcoin choices.
  2. Extremely simple user interface.
  3. Very high liquidity.
  4. Low minimum to fund account.
  5. Cryptocurrency is insured in the event the website is hacked.

Cons

  1. High fees unless using Coinbase Pro.
  2. The user does not control wallet keys.
  3. May not have as many altcoins as other exchanges.

Kraken Exchange

Country: United States
Currency: USD, GBP & EUR
Exchange Fees: 0.26%
Available Cryptocurrencies: 14+ including Bitcoin, Ethereum, BitcoinCash, and more

Kraken was founded in 2011 and is one of the oldest cryptocurrency exchanges currently running on the market. Just like Coinbase, Kraken has received some bad press over the years. Still, this is actually not a bad option for those living in the UK since all you need to do to use it is make a SEP payment.

Once you’re in the crypto exchange platform, you’ll find that it is actually pretty advanced with extensive features that are designed to make your trading as smooth as possible. They even include a futures section (although you ought to remember that trading on futures is known to come with even more risk).

Kraken is regulated with FinCEN in the USA, FinTRAC in Canada, and FCA in the UK. The exchange provides high levels of safety and security for digital assets and personal client information. They’re also reachable via 24/7 email support and live chat options in case you need help with any issues.

As for the number of coins supported, Kraken has got more than 15 cryptocurrencies for you to trade with. They even have very good safety features on the platform for you to trade at ease. Combining those with one-on-one support for advanced traders, an over-the-counter service, and very reasonable fees, it is not hard to see why Kraken deserves a spot on our list of the best cryptocurrency exchanges in the UK for you to buy and sell bitcoins.

Pros

  1. High-security measures with two-factor authentication on account login.
  2. Reasonable deposit and withdrawal fees.
  3. Sleek design with a good overview of the trading market and lots of customizations.
  4. A lot of cryptocurrencies and pairs to trade with.
  5. Proof of reserves audit.
  6. Popular with experienced traders for its excellent services.

Cons

  1. Not suitable for beginners.
  2. The slow verification process for intermediate and pro-level accounts.
  3. Does not accept credit card/debit card deposits.

Changelly Exchange

Country: Czech Republic
Currency: USD & EUR
Trading Fees: 0.25%
Available Cryptocurrencies: 90+ Cryptocurrencies including Ethereum, Ripple, and more.

Changelly is a European exchange that has been slowly gaining popularity among cryptocurrency traders looking to buy and sell bitcoin. While it’s not one of the most popular exchange platforms around, it does support a wide variety of cryptocurrencies and provides a reliable exchange platform for all to use.
Changelly is a low-cost cryptocurrency exchange that lets you buy cryptocurrency at a low price. Changelly promises the best prices in the marketplace with no minimum or maximum order. Traders in the united kingdom can also use any fiat currency, but it will always be converted to EUR or USD, which might not be the ideal case for everyone. Nonetheless, Changelly is still a powerful and solid bitcoin exchange platform for users to conduct their crypto exchanges reliably.

Pros

  1. Guarantees best crypto prices in the market.
  2. Easily exchange over 140 cryptos for a low fee.
  3. Non-custodial exchange does not hold customer funds.
  4. Integrated with many popular wallets and exchanges.

Cons

  1. No cryptocurrency trading.
  2. Cryptocurrency prices are set by Changelly platform.

Bittrex Exchange

Country: United States
Currency: USD
Transaction Fees: 0.25%
Available Cryptocurrencies: 190+ cryptocurrency coins including Ethereum, Ripple, and more

Bittrex was founded in 2014 in the US by four security engineers from some of the largest companies in the world and has rapidly risen to become the No. 1 cryptocurrency exchange. Unlike some of the cryptocurrency exchanges on our list, this trading crypto platform is fairly good for beginners.

However, it is worth highlighting that this exchange platform lacks a number of features that other cryptocurrency exchanges provide. It also only offers USD deposits, which may be rather inconvenient for those living in the UK.

Pros

  1. Very secure with two-factor authentication (2FA).
  2. Requires minimal personal information for verification.
  3. Fast verification process.
  4. Easy-to-calculate fee.
  5. Supports over 250 cryptocurrencies.

Cons

  1. Does not support deposits or withdrawals of fiat currencies.
  2. Does not support margin trading and lending.
  3. Wait times high because of low liquidity.
  4. Slow customer support.

Bitstamp Exchange

Country: Luxembourg
Currency: USD, EUR
Transaction Fees: 0.5%
Available Cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin & Ripple

Bitstamp Exchange is a relatively old and established bitcoin exchange founded in 2011 and has placed most of its focus on the European market. However, the company has started to pay more focus on the US market. Nonetheless, it’s still preferred by some UK users. It is also worth noting that the platform did suffer a security breach back in 2015 which has caused it to lose 19,000 BTC.

Pros

  1. Intuitive trading platforms with a range of useful trading tools.
  2. Various funding options.

Cons

  1. Not regulated.
  2. Cryptocurrency trading only.
  3. Does not support online chats.

Everything You Need to Know About Bitcoin and Crypto Exchanges

The Best Bitcoin Exchanges

Bitcoin is the very first cryptocurrency that everyone all around the world has heard of and it’s also the first one to become extremely popular outside of crypto circles before successfully penetrating mainstream usage. The ever-growing interest in Bitcoin has prompted many companies across the world to quickly create digital marketplaces for traders to buy, sell, or trade these crypto coins with fiat currencies (and later on, with other cryptos).

By now, there are easily thousands of Bitcoin exchanges on the market that offer various trading options. However, this accessibility and convenience make it even harder for traders to pick the right one for their needs. For such situations, we recommend for traders to opt for a simple and clutter-free platform instead of investing in altcoin support with advanced tools and features that could get confusing really fast. It is better to focus on a platform that facilitates quick and cheap Bitcoin transactions rather than one that takes forever just to make a trade.

For UK traders, the best Bitcoin exchange available on the market right now has got to be Binance. The Chinese exchange is headquartered in Malta and recently launched a trading company that focuses on the European and UK crypto market called Binance JE. One of the best things about this exchange platform is that it has added support for GBP and EUR payment methods.

However, those who still prefer a UK-based Bitcoin exchange can consider CEX.io. CEX.io is yet another reliable platform that lets you pay in GBP and make deposits via Visa or Mastercard credit and debit cards. Many also like that this company is located in the UK which translates to higher responsiveness and faster trade execution.

The Best Altcoin Exchanges

Aside from Bitcoin, more and more traders in the world have started to turn towards altcoin these days mostly because they enjoy speculating the prices of these volatile coins and the option to make smaller investments. However, trading altcoins is never risk-free as these coins have low liquidity and market cap which means they’re even more susceptible to “pump and dump” schemes.

But as long as you do the necessary research and are careful with what you trade with a well-thought-out strategy, then you should have nothing to worry about. The next step to crypto exchanges is to find a reliable altcoin exchange that supports large trading volumes and liquidity to withstand potential altcoin flash crashes.

For this, we recommend Binance as our best altcoin exchange in the UK since it offers more than 1,000 altcoins to meet the needs of adventurous traders. With Binance, you can trade Bitcoin, Ethereum, Tether, or even the exchange’s very own token – Binance Coin (BNB). The platform even developed its own trading tools and in-depth charts to help you always stay one step ahead of other traders.

Apart from Binance, you can also consider altcoin traders such as CEX.io and Kraken as both crypto exchanges have a decent variety of altcoins. For experienced traders who are more comfortable working with an advanced interface and crypto jargons, we would recommend for you to go for Kraken instead.

The Cheapest Cryptocurrency Exchanges

The fee schedule of the exchange can help traders make a better assessment and decide which exchange platform fits into their investment plan. For example, a retail trader looking at trading crypto as a hobby won’t likely produce large trading volumes all the time and might prefer an exchange with a lower starting fee as opposed to one that adjusts its fees according to trading volume.

For this, Binance becomes the cheapest option for crypto-to-crypto trading with fees as low as 0.1%. In case you won enough BNB, you can even use them to pay your fees and earn an additional discount! Another suitable exchange for UK retail traders is the Kraken with an average fee of 0.26%.

Those involved in the corporate or institutional market might prefer exchanges like Coinfloor. Coinfloor is based in the UK and has quickly built a solid reputation among high-volume traders thanks to its affordable fees. The fees may vary between 0.30% and 0.10% and will also depend on your 30-day trading volume. Volumes over 500,000 GBP qualify for a 0.20% fee while those over 1 million GBP get to enjoy a reduced fee of 0.10%.

The Largest Cryptocurrency Exchanges

When we talk about the largest crypto exchange, we really mean the platform with the largest daily trading volume. Daily trading volumes will act as guidance to see whether an exchange is liquid or not and a large trading volume means that many satisfied traders use and trust the exchange.

Most crypto exchange websites typically display their daily trading volume counts and website visits at their home page. Unfortunately, most of the data cannot be verified and can either be false or have been manipulated before with wash trading. This shouldn’t come as a surprise since many platforms are ready to do just about anything to gain more customers.

Among the few reliable organizations that are trying their best to combat and filter the spread of such fake information is the Blockchain Transparency Institute. And according to their research, Binance has appeared on top as the largest crypto exchange in the world with a daily trading volume exceeding $2 billion.

Alternatively, Coinbase / Coinbase Pro is another exchange on the list of the largest cryptocurrency exchanges. This American brokerage is based out in San Francisco and is also mostly preferred by many UK traders with a trading volume of almost $150 million daily.

The Most Popular Cryptocurrency Exchanges

Honestly, there isn’t much difference between the largest and the most popular crypto exchanges as obviously the more trading volume exchange is, the more popular it is since more traders trust it enough to make large investments and trades over and over again. One of the websites you can check online for trading volumes of exchanges in the UK is the Coinmarketcap.

Hence, it is only logical that both Binance and Coinbase reappear back on our list here as the most popular exchange platforms since they have the largest trading volumes. In fact, similar estimations from Blockchain Transparency Institute and other similar webs have shown that we’re not the only ones who think so. These trustworthy sites have found that both exchanges also have the highest number of website clicks.

As far as exchanges in the UK are concerned, Coinburp and CEX.io definitely take the crown as the most popular cryptocurrency exchange as they’ve been continually praised for their efforts to popularize crypto trading in the United Kingdom and have been actively making it seem less intimidating for novices. The platforms even provide account customization, live market data, and charts for market analysis to stay one step ahead.

The Safest Cryptocurrency Exchanges

Having an exchange account is one of the easiest ways for buyers and sellers to trade cryptocurrencies, yet one of the biggest challenges for exchanges is dealing with hacker attacks and illegal trading. This is why it is important for crypto platforms to invest in sophisticated cybersecurity measures to safely store such sensitive data and provide secured financial services.

To elevate security standards, these exchanges are required to obtain licenses and even register as money businesses with local or international financial regulators such as the financial conduct authority FCA based on the markets and countries they provide services for.

Existing cryptocurrency regulatory frameworks include a mandatory requirement for KYC checks of every customer as well as to monitor and identify suspicious trading patterns, report illegal activity, conduct third-party audits, two-factor authentication methods, etc.

Our top candidates for the safest platforms for buying and selling cryptocurrencies with a good level of security are Coinburp, Binance, and Coinbase. All of which apply encryption protocols to sensitive data and they even keep funds and crypto assets in air-gapped cold storage.

In addition to the regular security methods, Binance goes the extra mile by featuring its own Secure Asset Fund for Users (SAFU) to which the exchange allocates 10% of the collected trading fees. By now, you should already know that Binance has the highest trading volumes in the industry meaning that their SAFU reserve vault should definitely have enough to cover any unfortunate money losses.

Crypto Trading Exchanges that Don’t Require ID

As discussed in the earlier section, most exchanges have mandatory KYC checks as part of the application form itself and request user details such as full name, physical address, contact information, utility bill or bank statements, or even any kind of government-issued ID to prove that you are who you claim to be.

However, not all traders agree with this verification process as they require more privacy and anonymity online. They believe that the strongest argument of early crypto proponents is the need for privacy in online and cross-border money transactions and the need to reveal all your information and details completely defeats that purpose.

If you’re among the group of traders where privacy is of key importance to you, then you might want to consider Paxful and LocalBitcoins. These are the two best platforms available that let buyers and sellers trade crypto assets without needing any documentation. The only thing the platform requires is your email address to access their platform and search for matching orders.

The platform allows buyers and sellers to find each other online and agree on their preferred paying methods. However, some users might ask to check your ID before they’re willing to complete the deal and it is up to you to accept or deny their offer. The only drawback with this option is that you’re not going to be able to purchase more than 1,000 EUR in one year on LocalBitcoins or $1,500 on Paxful.

Cryptocurrency Trading Exchanges that Let You Pay with Cash

If you want to buy bitcoin or other cryptocurrencies with plain old cash, then the first option for you is to look for the nearest Bitcoin ATM. You can easily locate the nearest one to you on websites like Coin ATM Radar and they’re a really handy tool for when you’re traveling and cannot connect to the internet to use your crypto platform’s mobile app.

If you prefer to pay via credit or debit card, then you can opt for Coinbase or CEX.io. However, do remember that card purchases will incur higher fees with Coinbase charging a 3.99% fee on instant buys with a debit card. CEX.io, on the other hand, lets you pay only via Visa or Mastercard and has a fee of 3.5% + 0.20 GBP.

LocalBitcoins and Paxful also have the option for users to pay by card. You can also choose to arrange a meet-up with your partner in person and pay for your coins in cash although this is a riskier option and we do not recommend meeting the person alone.

If none of the above payment methods work for you, then you can opt to buy a Flexpin or Neosurf prepaid voucher that can be spent on exchanges such as Bitit. But you’re going to have to accept an 8$ service fee for that.

Conclusion – The Best Bitcoin Trading Platforms in the UK

In summary, a fully-fledged trading platform should support a variety of crypto assets to make your trading more versatile. Several platforms even offer advanced features such as margin trading, limit and stop offers, over-the-counter (OTC) services, different market charts, customizable portfolios, futures trading, and more to make your crypto trading experience even more meaningful. Most of these features will also be available in Binance that lets you enjoy margin reading up to 125x leverage peer-to-peer, and OTC trading options.

For those interested in making futures investments, Kraken is a good choice as it offers up to 50x leverage on returns and has the same OTC option as binance with one-on-one service for high-volume traders. These traders are even eligible to apply for Kraken’s Account Management program to get extra help on making cost-effective trading decisions.

Moreover, Kraken is even one of the few exchanges available that offer a dark pool for Bitcoin purchases. The dark pool works as your personal order book to place buy or sell orders without having to disclose your interest to the rest of the network.

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