Cryptocurrency is increasingly becoming established as a prominent form of currency in the United Kingdom. According to recent data, 4.7 million adults in the UK own cryptocurrency, showing increased adoption of digital assets. This growing interest makes many look for the best crypto exchange to improve their trading experience.
With so many exchange platforms, finding the one that will suit your needs can be challenging. Important parameters when choosing between the two include security, transaction fees, and user interface.
This guide will help you avoid the time-consuming process of researching various crypto exchanges and identifying the most suitable trading platform.
Comparing the Best Crypto Exchanges in The UK
|
Exchange |
Listed Coins |
Maker Fees |
Taker Fees |
Payment Method |
|
CoinJar |
60+ |
0.00% |
0.06% |
Bank Transfer |
|
XT Exchange |
131+ |
0.20% |
0.20% |
Visa / Mastercard and Wire Transfer |
|
Binance |
500+ |
0.00%- 0.02% |
0.10% |
Debit card, credit card and in-person cash payments, bank transfer |
|
ByBit |
650+ |
0.04% |
0.01% |
Credit/Debit Card, Banxa, Simplex, and P2P Trading |
|
Bitget |
840+ |
0.02% |
0.06% |
Debit/Credit Card, Cryptocurrency and P2P Transactions |
|
Coinbase |
248+ |
0.00% – 0.40% |
0.05% – 0.60%. |
PayPal SEPA Transfer Apple Pay Google Pay |
|
KuCoin |
923 + |
0.006%-0.012% |
0.025%-0.045% |
Credit/Debit Card |
|
HTX Global |
682+ |
Starts at 0.0362% |
Starts at 0.0462%. |
Bank card/payment service, cryptocurrency transfer from an exchange/wallet, and Huobi’s P2P platform. |
|
OKX |
350+ |
0.040%-0.045%. |
0.045%- 0.050%. |
Debit/Credit Card |
9 Best Crypto Exchanges UK For 2024
Now, we’ll explore the nine best crypto exchanges in the UK for 2024, evaluating their key features, security measures, and fee structures.
CoinJar is an Australian-based exchange company that has operated since 2013, making it the oldest cryptocurrency exchange in the UK. Having attracted more than 600,000 users worldwide, they have helped complete transactions equivalent to billions of dollars in Bitcoin, Ethereum, and many other types of digital currency.
Their purpose is to bring cryptocurrency to the masses using products such as CoinJar Card, an easy-to-use mobile application, and CoinJar Bundles, allowing you to rebalance your portfolio instantly.
Pros
- User-friendly mobile app for convenient trading and investment.
- CoinJar Card allows spending crypto with ease via Apple Pay and Google Pay.
- Innovative products like CoinJar Bundles offer instant portfolio diversification.
Cons
- Limited cryptocurrency selection compared to some more extensive exchanges.
- Customer service response times can vary.
XT.com is a versatile cryptocurrency trading platform that offers a wide range of services, including P2P exchanges, cryptocurrency sales, and derivatives trading. It supports fiat currency transactions, allowing users to deposit and withdraw through bank cards and accounts. The platform stands out by issuing its proprietary cryptocurrency and providing mining software to users. XT.com features over 120 trading instruments, including popular cryptocurrencies like Bitcoin, Ethereum, and Tether, and allows leverage of up to 125x on selected assets. Additionally, traders can implement various strategies, including scalping, while utilizing robust features such as stop-loss and profit functions.
Pros
- Supports numerous cryptocurrencies and fiat currencies
- Allows replenishment in fiat currencies
- Offers favorable trading commissions
- Provides leverage of up to 125x
- Features a proprietary mining platform
- Ensures large trading volumes and high liquidity
- Offers a convenient trading terminal
Cons
- Lacks investment programs (only deposits available)
- No training programs or study guides provided
Binance stands as the largest cryptocurrency trading platform globally, providing a comprehensive range of trading options and features. Its desktop and mobile dashboards equip users with advanced market charts and access to hundreds of cryptocurrencies. The platform supports various trading types, including futures and options, and offers multiple order types to cater to different trading strategies. Users appreciate Binance’s extensive selection of digital assets, ensuring they can trade a wide variety of cryptocurrencies. Additionally, its high liquidity allows for swift buying and selling with minimal price impact, making it an attractive option for both novice and experienced traders.
Pros
- Extensive selection of cryptocurrencies available for trading.
- High liquidity enables quick transactions with minimal price impact.
- Advanced features, including margin trading and derivatives, cater to experienced traders.
- Global presence allows users to trade from various regions.
- Convenient mobile app for on-the-go trading.
Cons
- Regulatory scrutiny in multiple countries raises concerns about compliance.
- The complex interface can overwhelm beginner users.
- Higher fees for smaller trades due to a tiered fee structure.
- Limited customer support options with reports of long wait times.
Bybit, launched in 2018, has rapidly grown into a major cryptocurrency exchange. It offers access to over 650 cryptocurrencies, including spot, margin, futures, and options trading. Bybit operates in over 180 countries and supports more than 60 fiat currencies through its peer-to-peer (P2P) trading service, providing a global user base with diverse and accessible trading options.
Pros
- Competitive maker and taker fees, on par with other leading global exchanges.
- Advanced trading engine, with an intuitive interface and robust analysis tools.
- Comprehensive platform with a wide variety of markets and trading options.
Cons
- Certain fiat currencies cannot be deposited or withdrawn, depending on the user’s region.
Bitget, founded in 2018, has become a popular platform for crypto enthusiasts, especially in the UK. The platform supports over 800 cryptocurrencies, offering a broad range of trading options for both beginners and experienced traders. Its standout features include futures trading and a renowned copy trading service, enabling users to replicate the trades of successful investors. The user-friendly interface, available on both web and mobile, enhances accessibility while integrating TradingView for advanced charting. Bitget prioritises security with strong measures like two-factor authentication and a $300 million protection fund.
Pros
- Zero GBP deposit and withdrawal fees
- Low trading fees
- Comprehensive educational resources
- P2P marketplace support
- Popular copy trading platform
- Excellent spot and futures trading options
- Multiple payment methods
Cons
- Slow customer support response
- Unregulated platform
Coinbase aims to democratise access to the global economy through cryptocurrency, striving to reach over 1 billion people. By focusing on trading, staking, safekeeping, and fast, free international transfers of crypto assets, it fosters economic freedom and supports responsible regulations for widespread crypto adoption.
Pros
- Access to a wide array of over 200 cryptocurrencies.
- It requires a low minimum funding requirement for accounts.
- Fast crypto withdrawal process.
- Beginner-friendly interface for easy navigation.
Cons
- The platform has limited availability of advanced trading features.
- It has slow response times from customer service.
KuCoin is the creation of two technology-savvy individuals who got into blockchain at the ground level. Having realised the prospect of cryptocurrency as the new financial system for all individuals, they established KuCoin as a platform easily used by the less informed and those without bank accounts.
Pros
- Wide selection of cryptocurrencies available for trading.
- User-friendly interface is suitable for both beginners and experienced traders.
- Competitive trading fees and incentives for active users.
Cons
- Limited fiat currency support compared to other exchanges.
- Occasional reports of technical issues and delays in customer support response.
HTX Global is a crypto exchange that provides ample depth for spot and derivatives trading pairs. As one of the largest trading platforms, it offers a large selection of trading products and its token, Huobi Token (HT), which gives users a trading fee discount.
Pros
- Deep liquidity for spot and derivatives trading pairs.
- Wide selection of trading products available.
- Native cryptocurrency Huobi Token (HT) offers discounted trading fees.
- The Coin Bureau conducted an in-depth review and research to aid in decision-making.
Cons
- Intense competition among numerous cryptocurrency exchanges may make it challenging to stand out.
OKX is a crypto platform created for professional trading with advanced features and for beginners who want to improve their trading skills. While OKX does not offer an extensive range of spot cryptocurrencies like other trading platforms, it has an appealing low trading fee structure.
It provides access to over 320 tradable cryptocurrencies, including a diverse offering of DeFi tokens. Their advanced crypto wallet offers various functions for 77 blockchains, providing boundless access to the world of DeFi.
Pros
- Trade over 320 cryptocurrencies on OKX.
- Enjoy low trading fees for both spot and futures trades.
- Leverage up to 100x on futures and 10x on spot trades for increased trading potential.
Cons
- Not available in the US or Canada
How To Select The Best Crypto Exchange UK?
This section will focus on the factors to consider when choosing the best crypto exchange in the UK. Learn about security measures, available cryptocurrencies, transaction and payment fees, and other factors to help you decide based on your trading preferences and needs.
Security
Security is one of the most critical factors when choosing the best crypto exchange in the UK. Seek out reliable trading platforms with robust protection mechanisms, such as two-factor authentication, cold storage of funds, and meeting regulatory requirements. Proceed with exchanges that can provide the necessary data about the safety of users’ funds and protection from cybercriminals to avoid scams in trading.
Cryptocurrencies Available
Cryptocurrencies listed on an exchange define an exchange’s flexibility and possible investment prospects. Seek out trading platforms that provide a more comprehensive selection of cryptocurrencies to trade, such as the most frequently traded coins and tokens and newer ones, to better control your trading options and the different coins or tokens you wish to invest in.
Customer Support
Customer support helps address problems or concerns the customer may have regarding the product. Choose stores with operational and accessible customer service options, including live chat, email, and phone, for assistance at any time.
Fees
Liquidity and trading volume determine the kind of trades executed in the market and which prices are discovered. To achieve the lowest possible spreads, minimal slippage, and fast order execution, it is recommended to trade at exchanges with high trading volumes that apply to numerous trading pairs.
Trading Volume
Trading volume refers to the total amount of assets exchanged in value or volume terms in a particular period, depending on the base currency. Increased trading volume means that prices are more liquid and active, making it easier for traders to transact at certain price levels with little likelihood of artificial price distortion.
Conclusion
When selecting the best UK crypto exchange, the following factors are considered: security, accepted coins and tokens, support, fees, and trading volume. Therefore, trading platforms with stringent security measures, offering a variety of coins, engaging customer support, having reasonable costs, and increasing trading volume provide the best experience. When these aspects are considered, it becomes easy for traders to identify the most appropriate exchange that will suit their needs. This is likely to enhance confidence when undertaking the business of cryptocurrencies.
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Frequently Asked Questions
What is the best way to buy crypto in the UK?
The most suitable platform for purchasing crypto in the United Kingdom is the one that provides genuine trading services, many available cryptocurrencies, low commissions, and proper assistance. Many exchanges are available today, but some of the most well-known are Coinbase, Binance, and Kraken.
Is OKX legal in the UK?
As a UK-based company, OKX must report taxes, which the HMRC can audit to ensure compliance with the tax policies. However, the legal use of cryptocurrencies may differ, so before using the OKX platform, it is necessary to track the current legislation and restrictions in the UK.
What is the safest crypto exchange in the UK?
It is not easy to directly identify the absolute safest crypto exchange in the UK as it varies with aspects such as security measures in place, compliance level, previous performances, and users’ feedback. Some exchanges, including Coinbase, Gemini, and Kraken, have been considered to be more secure and safer than others based on their security measures and compliance with the law.
Is KuCoin safe in the UK?
In general, KuCoin is safe for trading cryptocurrencies in the United Kingdom. However, users must do their research and be careful while dealing with any exchange. Also, conduct your business according to the laws of the United Kingdom, and be very careful when dealing with any funds on any platform.
