6 Best Crypto Exchange Platforms in the UK in 2023
Marcel Deeron November 2, 2022.
As the cryptocurrency market continues to grow, more and more exchanges are popping up in the UK. But with so many options, it can be challenging to choose the best platform for your trading needs. Here we've compiled a list of the top crypto exchange platforms in the UK in terms of usability, safety, features, fees, supported crypto, and more.
1. eToro—Best in Ease of Use
eToro is one of the best crypto exchanges globally, offering over 70 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. It's regulated in multiple jurisdictions, including the UK.
eToro is also secure and easy to use, allowing its UK users to instantly deposit funds using a credit card, debit card, e-wallet, or via bank transfer. Opening a verified crypto account on the platform is fairly straightforward and takes five minutes.
One of eToro's top features is its Copy Trading tool, which allows both new and experienced investors alike to mimic the trades of expert traders in the cryptocurrency space. The platform's crypto portfolio is also updated regularly, making it a great exchange if you're into altcoins, meme coins, or stablecoins.
2. Kraken—Best in Security
Kraken has been around since 2011 and has remained one of the top platforms for buying, selling, and trading crypto. The platform ensures the safety of its users' assets through regular security testing and bug bounty programs, in addition to a strict protocol for keeping assets safe in cold storage.
Kraken has never experienced a platform-wide crypto hack and likewise extends its security measures to its users through PGP asset encryption, two-factor authentication, and global setting lock. Kraken also offers a wide range of cryptocurrencies and has an iOS and Android-compatible app to allow trading on the go.
3. Bitstamp—Best for High-Volume Traders
Bitstamp is a great place for buying crypto in the UK with low fees. It's one of the longest-running exchanges worldwide and has been around since 2011. As such, its reputation for exceptional safety, user experience, and asset offerings is also quite high.
Bitstamp offers over 50 cryptocurrencies for trading within the UK and charges a flat fee of 0.5%. The fee drops to 0.25% for transactions exceeding £7,975 in trading volume per month, making it a great option for high-volume traders.
Crypto can also be bought instantly by credit or debit card, but this will result in a 5% fee per transaction. For safety, 98% of customer holdings are offline and Bitstamp offers asset protection with BitGo insurance.
4. Coinbase—Best for Beginners
Coinbase is one of the most user-friendly crypto exchanges, making it a great option for crypto beginners in the UK. The platform allows users to buy crypto instantly through a debit or credit card and has a standard transaction fee of 3.99%.
Users can also transfer their funds into a UK bank account for a standard commission fee of 1.49%. While the platform's fees may seem steep compared to that of other exchanges, users find that its user-friendly interface and intuitive design more than make up for it.
5. Crypto.com—Best in Mobile
Crypto.com's 10 million users worldwide are a testament to its ease of use, especially if you prefer trading on your mobile device. The platform offers a wide range of cryptocurrency options and allows for instant purchasing through a credit or debit card.
The platform charges a 0.4% maker/taker fee whenever users buy or sell cryptocurrencies. However, fees can be reduced further for payments made in Cronos (CRO), the platform's native token.
Crypto.com's app is well-designed and very easy to use, making it a great option for tracking assets and staking CRO—which offers a 34.6% annual percentage yield (APY). Their Crypto Earn feature also allows users to earn interest up to 14.5% APY on 50 cryptos.
6. OKX—Best in Versatility
OKX is one of the top crypto exchanges in the UK owing to its versatile assets and services. In addition to buying, selling, trading, and storing cryptos, users can immerse themselves in its vast library of educational materials, allowing them to hone their crypto trading skills.
OKX has basic and advanced trading features, making it a great platform overall for both newbies and experienced traders. The platform is also very secure, with 95% of client funds held in cold storage, in addition to supplementary semi-offline wallets for the other 5%.
Fees on OKX are also quite low, at 0.1% taker and 0.08% maker, making it one of the most cost-effective options for traders. Investors who choose to take out a fiat loan on OKX can also use their crypto as collateral—a great option for those looking to diversify their investments.
Overall, there are a variety of great options for crypto trading in the UK. The best exchange ultimately boils down to your individual preferences and needs. Be sure to do your own research and choose the platform that best suits your style of trading.