Best Crypto Exchanges in the UK for 2024
Dom Farnell
Co-Founder
Dom is a Co-Founder of TIC, a passionate investor and seasoned blog writer with a keen interest in financial markets and wealth management. "My goal is to empower individuals to make informed investment decisions through informative and engaging content."
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Please keep in mind that Crypto assets are volatile and currently unregulated. This volatility presents risk to your investment, and you may lose your funds. Profits from Cryptocurrency sales may be subject to Capital gains tax under UK law.
Quick Answer: Who Ranks Top?
Here are the top 10 crypto exchanges in the UK:
- Uphold – Ranked Top and Offers an extensive selection of altcoins for UK.
- MEXC – The premier choice for accessing a vast array of cryptocurrencies.
- OKX – Leading the pack as the overall best for UK traders.
- Binance – Unmatched for its trading volume and liquidity, ideal for UK traders.
- Coinbase – The go-to exchange in the UK for beginners.
- Kraken – Renowned for offering some of the lowest fees
- Bybit – The top choice for derivatives trading.
- eToro – Best in class for ease of use and simplicity in the UK looking to engage in social trading.
- CoinJar – Simplifies crypto transactions, making it accessible for UK residents.
- Bitpanda – Provides easy access to cryptocurrencies, metals, and savings products.
Page Contents:
Crypto Exchange Comparison Table
Uphold |  MEXC |  OKX |  Binance | 
Coinbase | 
Kraken |  Bybit |  eToro |  CoinJar |  Bitpanda | |
Spot Crypto | 200+ | 1500+ | 350+ | 370+ | 390+ | 210+ | 500+ | 120+ | 50+ | 150+ |
FCA Regulated | ||||||||||
Founded | 2015 | 2018 | 2017 | 2017 | 2012 | 2013 | 2018 | 2007 | 2013 | 2014 |
HQ | USA | Singapore | Seychelles | Caymens | California | Seychelles | Dubai | Israel | Australia | Austria |
Native Token | UP | MX | OKB | BNB | COINJAR | BEST | ||||
 | 4.2/5 | 1.9/5 | 3.2/5 | 2.1/5 | 1.5/5 | 2.0/5 | 3.2/5 | 4.1/5 | 4.4/5 | 4.3/5 |
Staking | ||||||||||
Leverage | Non UK | up to 200x | Non UK | Non UK | Non UK | Non UK | Non UK | Non UK | Non UK | Non UK |
Mobile App | ||||||||||
DEFI Wallet | ||||||||||
Beginner Friendly | 4/5 | 3.5/5 | 4/5 | 4/5 | 4.5/5 | 4.5/5 | 3.5/5 | 3.5/5 | 3.5/5 | 3.5/5 |
Demo Account | ||||||||||
Available in UK | ||||||||||
Review Score | 4.5/5 | 4.5/5 | 4.35/5 | 4.0/5 | 4.35/5 | 4.35/5 | 4.35/5 | 4/5 | 4.15/5 | 3.9/5 |
Please Refer to the Crypto Exchange for the most up to date information | ||||||||||
Top 10 Crypto Exchanges
TIC Score 4.5/5
Pros
Cons
- Multi-asset platform: Supports cryptocurrencies, precious metals, and fiat currencies.
- No withdrawal or deposit fees: Free fiat and cryptocurrency movements into and out of the platform.
- Transparent pricing: Clear, upfront pricing on trades.
- Environmental commitment: Pledges to become a carbon-neutral platform.
- Trading fees can be high: Spread fees may be higher than on other platforms.
- Limited advanced trading features: Not as feature-rich for experienced traders.
- Customer support issues: Some users report slow response times.
- Complex interface for beginners: The platform's range of services can be overwhelming at first.
Fees
Spread-based fees (variable)
No deposit or withdrawal fees
Exchange Features
Easy-to-use interface, supports multiple assets (stocks, commodities), staking available
Crypto Assets Available
200+ coins and tokens available
TIC Score 4.5/5
Pros
Cons
- Wide range of cryptocurrencies: Offers a vast selection of coins and tokens for trading.
- Competitive trading fees: Provides low trading fees compared to many other exchanges.
- Advanced trading options: Includes futures, spot trading, and margin trading.
- User-friendly mobile app: Accessible and easy to use for trading on the go.
- Complex for beginners: The wide array of features might overwhelm new users.
- Regulatory uncertainty: Faces scrutiny in some countries, affecting its availability.
- Limited fiat support: Not all fiat currencies are supported for deposits and withdrawals.
- Customer support issues: Some users report delays in receiving support.
Fees
Maker fees: 0.1% – 0.2%
Taker fees: 0.15% – 0.25%
Volume discounts and referral programs available
Exchange Features
Margin trading, futures contracts, spot trading, staking, OTC trading, Launchpool for new token listings
Crypto Assets Available
1,700+ coins and tokens available
TIC Score 4.35/5
Pros
Cons
- Diverse financial products: Offers a range of products including spot, futures, and options trading.
- Robust security measures: Implements strong security protocols to protect user assets.
- High liquidity: Ensures easy execution of trades with minimal slippage.
- Staking and savings options: Allows users to earn interest on their crypto holdings.
- Not available in all regions: Restrictions in countries like the USA limit its accessibility.
- Complex interface: Can be daunting for beginners due to its advanced features.
- Customer service delays: Reports of slow response times from customer support.
- Variable withdrawal fees: Fees can be high depending on the asset and network conditions.
Fees
Maker fees: 0.02% – 0.08%
Taker fees: 0.05% – 0.1%
VIP tiers with lower fees
Exchange Features
Margin trading, futures contracts, spot trading, staking, options trading, perpetual swaps, P2P trading, DeFi Earn program
Crypto Assets Available
350+ coins and tokens available
My Personal Experience
OKX stands out as the safest crypto exchange I’ve used, offering a secure environment to trade digital currencies. The exchange is fully regulated, instilling trust among retail investor accounts like mine. Their interface is user-friendly, making them a great exchange for beginners and veterans alike.
TIC Score 4/5
Binance - Unmatched for its trading volume and liquidity, ideal for UK traders
Pros
Cons
- Extensive market reach: Binance is one of the largest exchanges globally, offering numerous trading pairs.
- Low trading fees: Competitive fees with further discounts for Binance coin (BNB) holders.
- Comprehensive trading tools: From basic to advanced trading, including futures and options.
- Robust ecosystem: Offers additional services like savings, staking, and a launchpad for new tokens.
- Regulatory scrutiny: Faces regulatory challenges in various countries.
- Complex for new users: The wide array of options can overwhelm beginners.
- Customer support issues: Some users report difficulties in getting timely support.
- Withdrawal limits: Non-verified users face strict withdrawal limits.
Fees
Maker fees: 0.1% – 0.2%
Taker fees: 0.1% – 0.4%
BNB token discounts available
Exchange Features
Extensive spot and margin trading, futures contracts, options trading, staking, Earn program, Launchpad for new token listings, NFT marketplace
Crypto Assets Available
Coins: 600+ coins and tokens available
TIC Score 4.35/5
Coinbase - The go-to exchange in the UK for beginners
Pros
Cons
- User-friendly interface: Ideal for beginners with an easy-to-navigate platform.
- Regulatory compliance: One of the most regulated exchanges, providing a sense of security.
- Insurance protection: Offers insurance on digital assets stored on the exchange.
- Fiat currency support: Supports a wide range of fiat currencies for easy deposits and withdrawals.
- Higher fees: Trading fees are higher compared to other exchanges.
- Limited trading options: Fewer advanced trading features than some competitors.
- Account freezes: Some users report unexpected account locks and freezes.
- Customer support delays: Getting help can be slow, according to user feedback.
Fees
- Variable fees based on order size and payment method (1.49% – 3.99%)
- Coinbase Pro offers lower fees (0.04% – 0.25%)
Exchange Features
User-friendly interface, primarily focused on spot trading, staking rewards, Learn & Earn program
Crypto Assets Available
200+ coins and tokens available
TIC Score 4/5
Kraken - Renowned for offering some of the lowest fees
Pros
Cons
- High security standards: Known for its focus on security and has never been hacked.
- Comprehensive trading features: Offers a wide range of trading options, including futures and margin trading.
- Strong fiat currency support: Allows for easy deposits and withdrawals in multiple fiat currencies.
- Educational resources: Provides extensive learning materials for new traders.
- Complex interface for beginners: The platform can be overwhelming for new users.
- Variable fee structure: Fees can be confusing and vary by transaction type.
- Customer support challenges: Some users experience delays in support responses.
- Sign-up process can be lengthy: The verification process may take longer than expected.
Fees
Maker fees: 0.0% – 0.16%
Taker fees: 0.10% – 0.26%
Volume discounts available
Exchange Features
Margin trading, futures contracts, spot trading, staking, margin lending, OTC trading, Kraken Intelligence research reports
Crypto Assets Available
200+ coins and tokens available
TIC Score 4/5
Bybit - The top choice for derivatives trading
Pros
Cons
- Strong focus on derivatives trading: Specializes in futures and perpetual contracts.
- Competitive trading fees: Offers low fees, especially for high-volume traders.
- No KYC for withdrawals under a limit: Allows anonymous trading for small amounts.
- Powerful trading engine: Capable of handling high volumes without significant slippage.
- Limited spot trading options: Focus is more on derivatives than spot trading.
- Regulatory concerns: Not available in certain jurisdictions, including the USA.
- Customer support can improve: Some users report less than satisfactory support experiences.
- Risk of high leverage: Offers high leverage, which can be risky for inexperienced traders.
Fees
- Maker fees: 0.01% – 0.025%
- Taker fees: 0.02% – 0.035%
- VIP tiers with lower fees
Exchange Features
Primarily focused on perpetual swaps and futures contracts, spot trading available, staking, Launchpool for new token listings
Crypto Assets Available
100+ coins and tokens available
TIC Score 4/5
eToro - Best in class for ease of use and simplicity in the UK looking to engage in social trading
Pros
Cons
- Social trading features: Unique platform that allows users to copy the trades of successful investors.
- Regulated and secure: Heavily regulated, offering a secure trading environment.
- Wide range of assets: Not just crypto; offers stocks, commodities, and forex trading.
- User-friendly interface: Great for beginners and those new to trading.
- Higher fees for certain trades: Spread fees can be higher than some competitors.
- Limited crypto trading tools: More focused on traditional assets than advanced crypto trading features.
- Withdrawal and inactivity fees: Charges fees for withdrawals and inactivity.
- Customer service can be slow: Some users report slow response times.
Fees
Spread-based fees (variable)
Withdrawal fees apply
Exchange Features
Social trading features, copy trading, limited crypto selection, no staking
Crypto Assets Available
120+ coins and tokens available
TIC Score 4.15/5
CoinJar - Simplifies crypto transactions, making it accessible for UK residents
Pros
Cons
- Simple and straightforward: Ideal for beginners looking to buy and sell cryptocurrency.
- Regulated in the UK: Provides a sense of trust and security for users.
- Supports GBP transactions: Easy deposits and withdrawals using British pounds.
- Mobile app available: Convenient trading on the go with their intuitive app.
- Limited cryptocurrencies available: Fewer crypto options compared to larger exchanges.
- Higher fees for some services: Certain transactions may incur higher fees.
- No advanced trading features: Lacks tools for more experienced traders.
- Customer support feedback varies: Mixed reviews on the effectiveness of support.
Fees
Spread-based fees (variable)
Withdrawal fees apply
Exchange Features
Social trading features, copy trading, limited crypto selection, no staking
Crypto Assets Available
120+ coins and tokens available
TIC Score 3.9/5
Bitpanda - Provides easy access to cryptocurrencies, metals, and savings products
Pros
Cons
- Wide variety of assets: Offers cryptocurrencies, stocks, and precious metals
- User-friendly platform: Designed with beginners in mind, easy to use.
- Multiple payment options: Supports a range of payment methods for deposits.
- Educational resources: Provides learning materials for new investors.
- Higher fees for certain transactions: Some transactions may have higher fees compared to other platforms.
- Limited market analysis tools: Not ideal for advanced traders looking for in-depth analysis features.
- Customer support can be improved: Feedback on customer service is mixed.
- Regulatory and service limitations in some countries: Not available in all regions with full features.
Fees
1.25% buying fee, variable selling fee
No deposit fees, withdrawal fees apply
Exchange Features
User-friendly interface, supports multiple assets (precious metals), staking available
Crypto Assets Available
150+ coins and tokens available
What are Cryptocurrency Exchanges
Cryptocurrency exchanges are digital marketplaces where individuals can buy, sell, and trade cryptocurrencies. These platforms are the cornerstone of the digital asset economy, offering the liquidity necessary for market participants to execute trades efficiently. Exchanges vary widely in terms of functionality, with some providing basic buy and sell operations while others offer complex trading features like futures and margin trading.
Functionality of Cryptocurrency Exchanges
At their core, cryptocurrency exchanges facilitate the exchange of one digital currency for another or for fiat currencies. They operate on principles similar to traditional stock exchanges but are tailored to the unique nature of digital assets. Key functionalities include market making, order matching, and wallet services, which collectively ensure that users can trade cryptocurrencies in a secure and efficient environment.
When exploring the landscape of cryptocurrency trading, one comes across two main types of platforms: Decentralized Exchanges (DEXs) and Centralized Exchanges (CEXs). DEXs operate without a central authority and allow users to engage in trading cryptocurrency directly with one another. This peer-to-peer model upholds the ethos of decentralization, characteristic of blockchain technology. Users retain control of their private keys, and thus their assets, reducing the risk of exchange hacks. However, DEXs often lack the liquidity and user-friendly interfaces that CEXs provide, which can be a significant barrier to entry for new users.
On the other hand, CEXs are the pillars of the current trading ecosystem, especially within the UK, where uk crypto exchanges regulated by financial authorities provide users with added layers of security and trust. Centralized platforms such as these offer a more traditional exchange framework, with advanced features like customer support, integrated wallets, and a wider variety of trading pairs. They act as custodians of users’ funds, which means users must trust the exchange to manage their digital currencies effectively. For many, the convenience and features of CEXs outweigh the benefits of DEXs, making them a popular choice for those looking to trade cryptocurrencies in a regulated environment.
How to Select from the Top Crypto Exchanges in the UK
When searching for the most suitable crypto exchange for you, several factors come into play. The ideal platform balances ease of use, security, cost-effectiveness, and a wide selection of cryptocurrencies. Here’s what to consider best uk crypto exchange:
User Interface & Accessibility
Ease of Navigation: The platform should be intuitive, making it easy for both beginners and experienced traders to navigate.
Mobile App Availability: A robust mobile app allows trading on the go, a must-have for today’s traders.
Language Support: Multi-language support ensures a broader range of users can access the platform comfortably.
Security Measures
Two-Factor Authentication (2FA): Adds an extra layer of security to user accounts.
Cold Storage: The best exchanges store the majority of user funds offline, safeguarding them from online threats.
Regular Audits: Regular security audits by external firms demonstrate a commitment to maintaining high security standards.
Trading Fees & Charges
Transparent Fee Structure: Fees should be clearly outlined, with no hidden costs.
Competitive Pricing: Look for low transaction fees and favorable withdrawal and deposit rates.
Discounts for High Volume Traders: Some exchanges offer lower fees for users who trade large volumes.
Range of Available Cryptos
Wide Selection: The best platforms offer a broad array of cryptocurrencies, catering to diverse investment interests.
New Coin Listings: Regular updates to the selection ensure users have access to the latest and most promising digital assets.
Compliance & Regulation
Regulatory Compliance: Top exchanges adhere to UK financial regulations, ensuring legal operations and user protection.
KYC Procedures: Know Your Customer (KYC) processes verify user identities, combating fraud and money laundering.
Support Services for Users
Responsive Customer Support: Access to 24/7 customer service through multiple channels is essential for resolving issues promptly.
Educational Resources: Articles, tutorials, and webinars help users stay informed and make better trading decisions.
Security of Funds
Insurance Policies: Some exchanges offer insurance on user funds, providing compensation in the event of a security breach.
User Compensation Schemes: Look for platforms with clear policies on compensating users affected by unforeseen losses.
Trading Tools and Functionalities
Advanced Charting Tools: For technical traders, advanced charting tools are crucial for market analysis.
API Access: Allows users to automate trading strategies through secure and customizable API integration.
Staking and Earning Options: Features that allow users to earn interest or rewards on their cryptocurrency holdings add value.
Selecting the from the best crypto exchanges requires careful consideration of these factors to ensure a secure, efficient, and enjoyable trading experience. The right crypto wallet and platform not only meets your immediate trading needs but also supports your growth as a cryptocurrency investor, offering the tools and resources necessary to navigate the complex and evolving digital asset landscape.
You may also be interested in our Crypto vs series, OKX vs Coinbase, OKX vs MEXC, Coinbase vs MEXC. and OKX vs Kraken.
Understanding Crypto Taxes in the UK
In the UK, cryptocurrencies are recognized as property for tax purposes, making them subject to Capital Gains Tax (CGT) when sold at a profit. If you sell crypto, swap it for another crypto, spend it on goods or services, or gift it (except to your spouse or civil partner), you may owe taxes on any gains. The key points to remember are:
Capital Gains Tax: You’re taxed on the gain you make, not the total amount you receive. The tax rate depends on your income and the size of the gain.
Allowances: Each tax year, you have a CGT allowance. If your gains are below this threshold, you won’t owe any tax.
Record-Keeping: It’s crucial to keep detailed records of all your cryptocurrency transactions, including dates, amounts, and the type of transaction.
Navigating crypto taxes can be complex, and it’s advisable to consult with a tax professional familiar with UK regulations to ensure compliance.
Getting Started with a UK Crypto Exchange
Creating Your Account on OKX
To start trading on OKX, you’ll first need to create an account. Visit the OKX website and click on the “Sign Up” button. You can sign up using your email address or mobile number. Ensure you choose a strong password to protect your account.
Process of Verification
After creating your account, the next step is to verify your identity. OKX requires users to complete a Know Your Customer (KYC) process, which involves uploading government-issued ID and possibly a proof of address. This step is crucial for ensuring the security of your account and complying with regulatory standards.
Funding Your Account
Once verified, you can fund your account. OKX supports various funding methods, including a bank transfer, transfers, credit/debit cards, and cryptocurrencies. Choose the most convenient option for you and follow the instructions to make a deposit. Remember, some methods may incur fees, so it’s worth checking the details beforehand.
Finding Cryptocurrencies to Trade
With your account funded, explore the range of cryptocurrencies available to trade on OKX. You can use the search function to find specific cryptocurrencies or browse through all the money and listings to discover new investment opportunities. Check out market trends and analysis provided by OKX to inform your decisions.
Purchasing Cryptocurrency
When you’re ready to purchase, select the cryptocurrency you want to buy, choose the amount, and execute the trade. OKX offers various order types to manage your trades effectively, such as market orders, limit orders, and stop orders. After purchasing, your new assets will appear in your OKX wallet.
Glossary
Blockchain: A distributed ledger technology that records transactions across multiple computers in a secure and transparent manner.
Cryptocurrency: Digital or virtual currencies that use cryptography for security and operate on decentralized networks.
Wallet: Software or hardware used to store, send, and receive cryptocurrencies.
Hodl: Term originating from a misspelled word “hold,” referring to holding onto cryptocurrencies rather than selling them.
Altcoin: Any cryptocurrency other than Bitcoin; an abbreviation of “alternative coin.”
ICO: Initial Coin Offering, a fundraising method in which new cryptocurrencies are sold to investors before being offered to the public.
FOMO: Fear of Missing Out, the anxiety that drives individuals to purchase or invest in cryptocurrencies due to the fear of missing potential profits.
FUD: Fear, Uncertainty, and Doubt, often spread intentionally to manipulate the perception of cryptocurrencies or influence market behavior negatively.
Mining: The process of validating and adding new transactions to a blockchain through computational effort, typically rewarded with newly created cryptocurrency.
Private Key: A secret cryptographic key that allows the owner to access and control their cryptocurrency holdings.
How to Store Your Crypto
After buying cryptocurrency, you’ll need to consider how to store it securely. There are several options:
Exchange Wallet: Keeping it in your OKX wallet is convenient for making quick trades. However, it’s generally safer not to store large amounts on an exchange long-term.
Software Wallets: These are applications that you can install on your computer or phone. They offer a good balance between security and convenience.
Hardware Wallets: These physical devices store your cryptocurrency offline, offering the highest security level against online hacks.
Paper Wallets: A physical document containing your cryptocurrency keys; while secure from digital threats, they are vulnerable to physical damage or loss.
Each storage option has its advantages and risks, so consider your trading habits, security concerns, and convenience when choosing where to store your cryptocurrency.
References
- Bitcoin: Crypto fans can now invest in exchange-traded funds – but what are they? – BBC News
- SEC.gov | Crypto Assets and Cyber Enforcement Actions
- Best Crypto Exchanges and Apps of February 2024
- What Is Staking In Crypto? – Forbes Advisor UK
- Cryptocurrency – Wikipedia
- Who is the mysterious Bitcoin creator Satoshi Nakamoto?
FAQs
The best crypto exchange for beginners is widely regarded as Coinbase, thanks to its user-friendly interface, extensive educational resources, and robust security measures. It provides an easy entry point for those new to cryptocurrency trading, ensuring a smooth learning curve.
To find a crypto exchange in the UK offering a wide range of crypto assets, consider platforms like Binance or MEXC. These exchanges are known for their extensive selection of cryptocurrencies, catering to both novice and experienced traders looking for diversity in their investments.
Yes, there are decentralised exchanges (DEXs) available to UK users, offering an alternative to centralised platforms by enabling direct peer-to-peer transactions without the need google pay for an intermediary. Popular DEXs include Uniswap and SushiSwap, which support a variety of crypto assets but often you cannot fund your account via bank transfers!
When searching for crypto trading platforms regulated in the UK, prioritize those that comply with local financial regulations, offer robust security measures, provide transparent fee structures, and support a wide range of cryptocurrencies. Regulated platforms like eToro and Coinbase ensure a safer trading environment for UK investors.
To ensure your digital assets are safe with crypto exchanges, choose platforms that implement strong security protocols such as two-factor authentication (2FA), cold storage for the majority of funds, and regular security audits. Additionally, consider exchanges that offer insurance policies or are part of the Financial Services Compensation Scheme (FSCS) for added protection.
