Below is a list of some of the best crypto exchanges for those in the UK. The list consists of apps, websites and platforms where you can buy cryptocurrencies. Not every exchange is permitted to operate in the UK, so here are the exchanges that work best if you live in the UK!
Quick disclaimer. Remember, crypto is extremely volatile and quite unregulated. Crypto has no UK or EU investor protection like other traditional methods of investing. Like any investment, you are risking your funds and could lose all of it.
eToro
eToro offers multiple investment options: crypto, stock and CDFs. One of the main benefits of eToro is the amount of different coins you can buy. They offer over 115 cryptocurrencies to pick from. Of course, this includes the likes of Bitcoin, Ethereum, Dogecoin and other popular coins.
eToro is registered with the Financial Conduct Authority (FCA). Their trading platform is decently advanced so seasoned investors will enjoy extra features not found on all exchanges. eToro comes with a crypto wallet for you to store your crypto on their exchange, too.
It costs nothing to start an account with eToro. For the beginners, you can enjoy their demo trading platform to get a feel for how it works. Using the demo platform will also give you a feel for the extreme volatility in crypto!
Another benefit of eToro is a 0 fees deposit system. You’ll only have to pay fees on spreads. Another potential fee to be aware of is currency exchange. eToro operates in USD, so you will need to trade the pound or whichever currency you have to the USD. When you withdraw your funds, you incur a $5 charge. You have to withdraw at least $50.
These are some of the main things to consider with eToro. Overall, it’s a pretty suitable platform for UK crypto users!
Coinbase
Coinbase is one of the most established exchanges out there. They boast some of the highest users and trade volume. Coinbase gives you the choice of over 500 coins and tokens to buy and sell. Of course, this includes coins like Bitcoin, Ethereum, XRP and Luna.
The sophisticated trading platform allows you to schedule buys and sells into the future. Their IOS, android and web apps are really useful and smooth. You can always be checking your trades, the market and what’s going on.
Coinbase includes a crypto wallet. You can use the wallet to connect to decentralized exchanges (as opposed to a centralized exchange like Coinbase) and make use of the different services they can offer. For example, you could use your Coinbase wallet to connect to PancakeSwap (a popular decentralized exchange on the Binance Smart Chain) to then quickly trade your coins away from the exchange.
There are a few fees to consider with Coinbase. The fees combine together and are determined by the payment method, size of the order, market conditions and other things like volatility and liquidity of the coin you’re buying.
Coinbase is registered with the FCA, as well as having a withdrawal fee, but a 0 deposit fee.
Gemini
Gemini was started by two famous figures from the Facebook story… Tyler and Cameron Winklevoss. Gemini is great because it is simple to use even for the brand new investor. Yet, there are also some nice features for experienced investors to take advantage of. Overall, Gemini makes it easy for you to get involved in crypto, with their simple interface, education section and wide variety of coins to choose from. Gemini lists 50+ coins to buy like Bitcoin, Ethereum, Cardano, Polkadot and more. Enjoy trading, managing, and dynamic price alerts amongst other trading tools with Gemini. You can also set up various scheduled trades like you can with Coinbase. Again, also like Coinbase, Gemini has smooth web app, IOS and Android options software for you to take advantage of.
Gemini offers you a crypto wallet for you to store your crypto on. Choose between a hot wallet (has connected to the internet), or a cold storage option which is much safer.
Gemini is free to deposit, registered with the FCA, and charges withdrawal fees.
Bitpanda
Like eToro, Bitpanda allows you to invest in stocks as well as crypto. Bitpanda gives users over 50 of the top cryptocurrencies to choose from, including Bitcoin, Ethereum, Dogecoin and more. You can open an account for free but have to deposit at least 25 euros to get started. A cool feature with Bitpanda is being able to trade your crypto for other assets. For example, you could use Bitcoin to buy gold, ironically!
Bitpanda also allows you to schedule investments over time. If you plan to dollar cost average (DCA) into Bitcoin, you could set a payment schedule on Bitpanda so it does it for you automatically. Bitpanda also has a crypto card that you can use to spend like cash. Crypto.com has a similar model. This is a great benefit as you don’t have to go through the stress of changing your crypto to fiat and withdrawing it to your bank.
For a more advanced experience, users can upgrade to Bitpanda Pro, which gives you more trading options. For example, you can gain price matching capabilities, automated clearing, settlement and netting processes. This isn’t necessary for those new to crypto, but those who are seasoned investors should consider Bitpanda Pro!
Bitpanda aren’t registered with the FCA, but there aren’t any withdrawal or deposit fees.
Coinsmart
Coinsmart is simple to use. Their mission is to make crypto more accessible to use. They’re achieving that and have a clean and simple platform that just about anyone should be able to understand.
Coinsmart offers the top coins like other exchanges, including Bitcoin, Ethereum, Litecoin and more. They have desktop and mobile options. They aren’t registered with the FCA, but you don’t have to make a minimum deposit, and there are withdrawal fees.
Coinsmart’s focus on simplicity means it has a few less features than other exchanges, but it’s worth checking out for those who are new to cryptocurrency exchanges.
Revolut
Revolut was popularized as a personal finance app. However, they have introduced the ability to purchase Bitcoin, Ethereum and 25+ other coins. You can even choose to invest as little as $1 to get involved.
Revolut has built in features like price notifications (e.g. you want to buy Bitcoin at $20,000, you will receive a notification). Revolut also produces crypto news, so you learn about what’s happening in crypto within the app.
A cool feature Revolut has is a round up service. You can gather all your spare change and invest into your favorite coin. Revolut charges a fixed fee for converting fiat currency into crypto. The fee is 2.5% for normal users and 1.5% for Premium and Metal users. This is the only fee involved.
Enjoy other aspects of Revolut like savings features, accounts made specifically for investing, exchange + trading, and international fiat currency transfers.
Revolut is a good option for someone who wants a money management app, but also wants to buy cryptocurrency. It’s good for someone who isn’t particularly interested in getting super involved in crypto. Perhaps if you just want to buy a bit of Bitcoin or Ethereum and forget about it, Revolut would be an easy way to do that. Enjoy 0 withdrawal fees if you want to take your crypto or fiat currency out!
