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This makes it convenient for traders, whether you prefer trading on the go or at your desk. OKX also offers low trading fees, starting at 0.08% maker and 0.1% taker. However, UK traders must follow the new rules set by the Financial Conduct Authority (FCA). These rules include a 24-hour “cooling-off” period for new users and a focus on managing trading risks. However, you best crypto exchanges uk need the best one like those listed in our mini-reviews above to trade securely and enjoy your experience.
Is OKX Safe? OKX Exchange Security Overview 2024
After thorough https://www.xcritical.com/ testing and analysis, we are excited to award eToro a 5-star rating as the overall best cryptocurrency exchange UK. It impresses with a wide range of features suitable for both beginners and experienced traders. EToro offers over 33 cryptocurrencies and a highly secure wallet with access to private keys. Its social platform also connects cryptocurrency traders, and the copy trading feature allows you to replicate the strategies of successful traders, potentially enhancing your profits. With Uphold supporting deposits using a credit/debit card, crypto, and bank transfer, the exchange is fairly easy to access. However, while suitable for beginners looking for the easiest way to get involved with crypto, the platform should be avoided by traders looking for advanced trading features.
Educational Resources and Community Support
Gemini prioritizes security, which makes it ideal for both newbies and experienced users. It uses strategies such as 2FA, and provides support for hardware security keys. Although the exchange has suffered previous attacks, it has worked towards improving security and making users feel safe. Gate.io’s extensive selection of cryptocurrencies makes it a good option for UK users. It also supports trading features like margin trading, and different financial products. The extensive crypto support also makes it a good exchange for day trading.
Best Crypto Exchanges in the UK
It goes without saying that the best UK crypto exchanges are all going to prioritise the security of their user funds and personal information above all (unlike Sam Bankman-Fried of FTX infamy, for instance). Coinbase is a major cryptocurrency exchange that has been operating since 2012. Like the Kraken exchange that we’ve featured above, Coinbase has a stellar track record when it comes to keeping its customers’ funds safe. Overall, Kraken is the best crypto exchange for UK customers in our opinion, but there’s some caveats you need to keep in mind. Keep in mind that Kraken customers from the United Kingdom cannot use the exchanges Opt-In Rewards product or trade futures.
Further, before selecting any crypto, you should also investigate whether or not withdrawals are charged on that exchange. For instance, the leading crypto exchange, eToro platform offers a plethora of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO, Ripple, IOTA, Stellar, EOS, Tron, Monero, Cardano, etc. This exchange grants access to a vast selection of over 350 cryptocurrencies. Leveraging is available for most of these assets, enabling users to explore short-term, mid-term, and long-term investment prospects. Similarly, the eToro platform’s Copy trader function allows users to replicate the trades of skilled, experienced, and professional investors.
Looking for a user-friendly crypto trading platform with social features in the United Kingdom? Deposits made with a UK debit card are processed instantly, while transfers from a bank account can take a day or two. They charge a deposit fee of 0.5% on GBP payments, which is generally lower than other crypto exchanges.
EToro is well-known for its social trading community, where traders can join and connect with other traders to share ideas and strategies or mirror the trading performance of profitable traders. As such, new investors can get involved with crypto and begin trading without much prior knowledge. From these rules, you can also have an idea regarding how much tax you will be subjected to.
To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners. According to research by Boring Money, the DIY investment market is booming, with an increase of 34% in assets on DIY investment platforms in 2021.
To attract market makers, many exchanges charge lower trading fees from them. Similarly, some exchanges do not even charge any fees on any trading transaction. Check that this criterion is within your budget before you select any crypto exchange.
- With over 98 million users, Coinbase offers a user-friendly platform for buying, selling, and monitoring popular cryptocurrencies.
- Crypto.com offers a DeFi crypto wallet, a staking platform, a Visa debit card that allows users to spend their cryptocurrencies at merchants worldwide, and a mobile app.
- When engaging with cryptocurrencies, it’s crucial to recognise that these digital assets are characterised by their extreme volatility and speculative nature.
- There is a commission on crypto trades when you buy and sell crypto using CoinJar, though this is only 1% on every trade, which is around the industry standard for crypto wallets.
- OKX and Kraken are good options for advanced traders as they offer features like margin trading, futures trading, and staking, where you can earn passive income on your cryptocurrency.
- However, UK traders must follow the new rules set by the Financial Conduct Authority (FCA).
- It supports spot and margin trading, giving UK traders access to advanced financial tools like limit orders and derivatives.
In addition, UK customers on Kraken are not allowed to deposit or trade the privacy coin Monero. You can deposit GBP to Kraken through a variety of payment systems, including SWIFT, FPS/BACS, PayPal and CHAPS. The exchange also lists a variety of GBP-denominated trading pairs, where you can directly trade cryptocurrencies against the pound. It has invested over $100 million in security measures, including cold storage, two-factor authentication (2FA), and continuous security audits. Although UK users can still access Binance through offshore platforms, it is important to be aware of the regulatory risks involved.
Crypto.com is split into two platforms, making it one of the more accessible exchanges on our list. While the Crypto.com app can be used to buy crypto with fiat and manage the company’s Visa debit card, the Crypto.com exchange provides access to trading pairs and additional trading-centric functionality. Unfortunately, investors from the UK are not allowed to short cryptocurrencies on eToro due to regulations by the Financial Conduct Authority (FCA).
In addition to the aforementioned benefits, this cryptocurrency exchange gives its customers an excellent crypto trading experience with low trading and withdrawal fees. CoinGape prepared a review methodology to rate crypto exchanges, tools, and apps. We curated a list of metrics to evaluate crypto platforms based on their services, user experience, security and customer support, payment gateways and charges, pricing and promotions. Visit our Review Methodology page to learn more about how we review each crypto platform. Platforms like Bitget offer lower fees for futures trading, while Gate.io offers diverse trading opportunities.
The platform has since evolved into a good spot to trade crypto and one of the best crypto exchanges in the UK. EToro has a strong presence in Europe, and is one of the best exchange in Europe and the United Kingdom. All deposits are monitored by a dedicated team and are subject to compliance checks. An active member of the San Francisco Writers’ Guild, Julie also authored trade strategies, educational material, market commentary, newsletters, reports, articles, and press releases. She became a sought-after market expert who was frequently interviewed by financial magazines and news wires such as REUTERS.
This allows you to learn about the market and hone your trading skills before doing it for real. Remember, you won’t be able to rely on Copy Trading features forever if you truly want to make impressive profits in this market, so always prioritise education before getting carried away. Furthermore, you might want to check whether the exchange has faced any major security breaches or controversies in the past and how they’ve handled them if so. So, not only does this feature benefit traders seeking to get in on the ground floor of a new project, but it also helps the projects themselves gain more exposure and funding. For newcomers, specifically, this can be a fantastic way to gain some valuable insight from the experts by learning what makes them profitable traders — also allowing you to directly replicate their strategies.
While fewer than Binance, Kraken offers an impressive selection of crypto assets. The platform supports spot purchases on 222 cryptocurrencies and provides access to 698 tradable markets. One of the biggest crypto exchanges in the US, Kraken prides itself on regulatory compliance and is registered with the FCA, FinCEN, and FinTRAC.
