Best Crypto Exchanges in the UK for 2024

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Adam Woodhead
Adam Woodhead

Adam Woodhead

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Adam is a Co-Founder and content creator for The Investors Centre. His key areas of interest and expertise are cryptocurrency and blockchain technology.

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Dom Farnell
Dom Farnell

Dom Farnell

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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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Last Updated 15/09/2024
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Disclaimer

Disclaimers

The information provided in this article is for educational purposes only and does not constitute financial advice. Cryptocurrency trading involves a high risk and may not be suitable for everyone.

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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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: What's the Best Crypto Exchange in the UK?

For most UK users, eToro is the best all-around crypto exchange. It offers a user-friendly platform, strong security features, FCA regulation, and a wide range of features beyond just buying and selling crypto, like social trading. While other options might have lower fees or more cryptocurrencies, eToro excels in overall ease of use and beginner-friendliness for UK investors.

The Top 7 Crypto Exchanges in the UK are:

  1. eToro – Social Trading, Easy to Use, Rated Highest
  2. Coinbase – Beginner-Friendly, Secure, Trusted Brand
  3. Kraken – Secure Platform, Competitive Fees, Intuitive Interface
  4. Mexc – Lowest Fees, Huge Selection, Less Regulated
  5. Uphold – Multi-Asset, Low Minimums, Fewer Features
  6. OKX – Low Fees, Advanced Features, Less Regulated
  7. Binance – Most Crypto, High Liquidity, Complex Interface

Featured Broker

4.7/5

eToro - Best for Beginners

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

How Do These Crypto Exchanges Compare?

eToro Logo
eToro
Coinbase
Kraken
Uphold
MEXC
OKX
Binance
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Native Token
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MX
OKB
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Leverage
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up to 200x
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DEFI Wallet
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Beginner Friendly
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Please Refer to the Crypto Exchange for the most up to date information. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

What are the Top 7 Crypto Exchanges

4.7/5

eToro - Social Trading, Easy to Use, Rated Highest

Pros

Cons

  • Spreads: Crypto trades on eToro incur a spread, which is the difference between the buy and sell price.
  • Withdrawal Fees: A $5 fee applies for withdrawals, regardless of the amount.
  • Inactivity Fee: A $10 fee applies if your account remains inactive for 12 months.

At the time of writing (June 2024), eToro offers around 24 major cryptocurrencies for trading. This number is lower compared to some other large cryptocurrency exchanges.

  • Regulation: eToro is regulated by the FCA in the UK, offering some investor protection.
  • Security Features: eToro implements various security measures including two-factor authentication and secure storage of user funds.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

4.4/5

Coinbase- Beginner-Friendly, Secure, Trusted Brand

Pros

Cons

FeatureCoinbaseCoinbase Pro
Instant Buy/Sell FeesAround 1.49% (bank transfer); 3.99% (card)Not applicable
Maker Fee (Up to $10,000 Volume)N/A0.50%
Taker Fee (Up to $10,000 Volume)N/A0.50%
Maker Fee (Over $50,000 Volume)N/A0.25%
Taker Fee (Over $50,000 Volume)N/A0.25%
Withdrawal FeesVariable based on methodNot applicable
Spread FeesIncluded in priceNot applicable

Coinbase offers a selection of over 200 cryptocurrencies, including popular options like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Coinbase Pro provides access to a wider range of assets and trading pairs, catering to both beginners and advanced traders.

Coinbase is one of the most secure exchanges, with two-factor authentication (2FA), encryption, and 98% of customer funds held in offline cold storage. Coinbase Pro provides the same high security standards, with the added benefit of insurance coverage for digital assets held in hot wallets.

4.4/5

Kraken - Secure Platform, Competitive Fees, Intuitive Interface

Pros

Cons

FeatureKraken StandardKraken Pro
Instant Buy/Sell Fees3.75% + €0.25 (card); 0.5% (bank transfer)Not applicable
Maker Fee (Up to $10,000 Volume)N/A0.25%
Taker Fee (Up to $10,000 Volume)N/A0.40%
Maker Fee (Over $10M Volume)N/A0.00%
Taker Fee (Over $10M Volume)N/A0.10%
Convert Small Balances Fee3%Not applicable
Spread FeesIncluded in priceNot applicable

Kraken offers an extensive selection of over 240 cryptocurrencies. This includes major coins like Bitcoin (BTC) and Ethereum (ETH), as well as a diverse range of altcoins and stablecoins. The variety allows users to diversify their portfolios with ease.

Kraken is highly secure, employing robust measures like two-factor authentication (2FA), cold storage for digital assets, and encrypted wallets. It has a strong reputation for safeguarding user funds and providing a reliable trading environment, making it one of the most secure exchanges in the market.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

MEXC LOGO FOR MEXC vs coinbase comparison table
4.5/5

Mexc - Lowest Fees, Huge Selection, Less Regulated

MEXC homepage screenshot showcasing a wide variety of available cryptocurrencies and trading options for UK users.

Pros

Cons

  • Spot Trading Fees: MEXC offers maker and taker fees with tiers based on your trading volume. Maker fees can be as low as 0%, while taker fees remain competitive.
  • Futures Trading Fees: Similar to spot trading, MEXC offers tiered maker and taker fees for futures contracts, with maker fees often at 0%.
  • Withdrawal Fees: Withdrawal fees vary depending on the cryptocurrency and network chosen. Check their website for current rates.

MEXC offers a massive selection of cryptocurrencies, potentially exceeding 1,500 different assets at the time of writing (June 2024). This includes major cryptocurrencies, lesser-known tokens, and emerging projects.

  • Regulation: As mentioned earlier, a lack of major regulatory oversight is a concern for some users.
  • Security Features: MEXC implements security measures like multi-signature wallets, two-factor authentication, and cold storage for a portion of user funds. However, due to the lack of robust regulation, conducting thorough research is crucial.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

4.5/5

Uphold - Multi-Asset, Low Minimums, Fewer Features

Pros

Cons

  • Spreads: Uphold’s primary fee comes from spreads between buy and sell prices, which can vary depending on the asset and market conditions.
  • Withdrawal Fees: Withdrawal fees vary depending on the chosen withdrawal method. Check their website for current rates.
  • Inactivity Fee: A $10 fee applies if your account remains inactive for one year.

Uphold offers a wider range of cryptocurrencies compared to its minimum selection limit, with over 250 supported assets. This includes major cryptocurrencies and some lesser-known tokens.

  • Regulation: Uphold is registered with FinCEN in the US but lacks a comprehensive regulatory framework compared to some competitors.
  • Security Features: Uphold employs security measures like two-factor authentication and cold storage for a portion of user funds. However, the recent class-action lawsuit highlights potential concerns.
OKX Logo for OKX vs MEXC blog
4.3/5

OKX - Low Fees, Advanced Features, Less Regulated

OKX homepage image displaying advanced trading platform features and tools,

Pros

Cons

  • Spot Trading Fees: OKX offers tiered maker and taker fees based on your trading volume. Maker fees can be as low as 0%, while taker fees remain competitive. Discounts are available through their loyalty program.
  • Futures Trading Fees: Similar to spot trading, OKX offers tiered maker and taker fees for futures contracts, with maker fees potentially reaching 0%.
  • Withdrawal Fees: Withdrawal fees vary depending on the cryptocurrency and network chosen. Check their website for current rates.

OKX offers a wide selection of cryptocurrencies, exceeding many competitors. The exact number fluctuates based on availability and market conditions, but it likely includes most major cryptocurrencies and a range of emerging projects.

  • Regulation: As mentioned earlier, the lack of major regulatory oversight raises concerns.
  • Security Features: OKX employs security measures like multi-signature wallets, two-factor authentication, and cold storage for a portion of user funds. However, due to the lack of robust regulation, conducting thorough research is crucial.
Binance Logo
4/5

TIC Score 4/5

Binance - Most Crypto, High Liquidity, Complex Interface

Pros

Cons

  • Spot Trading Fees: Binance utilizes a tiered fee structure based on your 30-day trading volume. Fees can be further reduced by holding Binance Coin (BNB), the platform’s native token.
  • Margin Trading Fees: Margin trading incurs additional fees on top of spot trading fees. Carefully review the specific margin trading fee structure on Binance’s website.
  • Futures Trading Fees: Similar to spot trading, Binance offers tiered maker and taker fees for futures contracts. Discounts are available for holding BNB.
  • Withdrawal Fees: Withdrawal fees vary depending on the cryptocurrency and network chosen. Check their website for current rates.

Binance offers the absolute largest selection of cryptocurrencies, exceeding 1,000 different assets at the time of writing (June 2024). This includes major cryptocurrencies, lesser-known tokens, and emerging projects.

  • Regulation: Binance’s regulatory landscape is complex and evolving. While they have taken steps to improve compliance, it’s important to be aware of potential risks associated with a less-regulated environment.
  • Security Features: Binance implements security measures like Secure Asset Fund for Users (SAFU), two-factor authentication, and cold storage for a significant portion of user funds. However, due to past security incidents and regulatory concerns, conducting thorough research is crucial.

Introduction to Crypto

Thinking about diving into the exciting world of cryptocurrency in the UK? Finding the right exchange is crucial! Cryptocurrencies have transformed the landscape of digital finance globally with their unique capability to facilitate secure and decentralized transactions. Their growing popularity in the UK is undeniable, with more people looking to invest in this innovative technology every day.


Cryptocurrency exchanges play a pivotal role in this ecosystem. They are the platforms where you can buy, sell, and trade cryptocurrencies like Bitcoin, Ethereum, and many others. For anyone eager to get started in the world of digital currencies, understanding how these exchanges operate is key to making informed decisions and ensuring a safe trading experience.

What is a Crypto Exchange?

A crypto exchange is essentially a marketplace where individuals can buy, sell, or trade cryptocurrencies. This platform acts like a stock exchange, but for digital currencies, allowing users to engage with different cryptocurrencies through various trading pairs.

These exchanges utilize order books—a dynamic list of buy and sell orders that show the quantity and price at which users are willing to transact. This system facilitates the direct interaction between buyers and sellers, setting the market price for cryptocurrencies based on supply and demand.

Why Use a Crypto Exchange in the UK?

Using a regulated crypto exchange in the UK offers significant security benefits compared to peer-to-peer (P2P) trading. These platforms adhere to stringent security protocols, protecting users against fraud and theft. The convenience of trading on an exchange cannot be overstated; with just a few clicks, users can buy, sell, and manage their crypto assets efficiently.

Furthermore, exchanges regulated by the Financial Conduct Authority (FCA) provide additional consumer protection and comply with anti-money laundering (AML) regulations, ensuring a safer and more secure trading environment.

Factors for Choosing a Crypto Exchange in the UK

Security

When selecting a crypto exchange, the security of your funds and personal information should be a top priority. Look for platforms that offer two-factor authentication (2FA), encryption, and cold storage options. It’s crucial to choose exchanges that have a strong track record of security and transparency in handling user data and funds.

Regulation

Opting for an FCA-regulated exchange can greatly enhance your trading security and peace of mind. These exchanges are required to meet strict financial standards and conduct regular audits. Regulation helps protect against fraud and misuse of funds, making it a critical factor for anyone trading in the UK.

Fees

Understanding the fee structure of a crypto exchange is essential. Fees can vary widely between platforms and can affect the overall profitability of your trades. Look for transparent fee structures and consider how fees will impact your trading activities, especially if you plan to trade frequently or in large volumes.

User Experience

A user-friendly platform can make a significant difference, especially for beginners. Look for exchanges that offer an intuitive interface, helpful customer support, and educational resources. These features can enhance your trading experience and help you make more informed decisions.

Market Variety

Diverse market offerings allow you to trade a wide range of cryptocurrencies. This variety is particularly important for users looking to explore beyond the most common coins like Bitcoin and Ethereum. An exchange with a broad selection of coins and tokens provides more opportunities for diversification.

Customer Support

Effective customer support is crucial, especially when dealing with complex and sometimes volatile assets like cryptocurrencies. Ensure that the exchange you choose offers robust support through multiple channels such as live chat, email, and phone.

Focusing on these factors will help you select a crypto exchange that not only meets your trading needs but also ensures a safe and productive trading environment in the UK.

How Popular are the Top Crypto Exchanges?

In the UK, several leading crypto exchanges dominate the market, each with its own strengths and user base. Among the most prominent are eToro, Coinbase, Kraken, and Binance, though Binance faces certain regulatory challenges.

eToro is known for its user-friendly interface and social trading features, which allow users to copy the trades of experienced investors. This makes it particularly attractive for beginners. It’s regulated by the Financial Conduct Authority (FCA), providing a layer of security and trust. However, its fee structure might be higher compared to others.

Coinbase is one of the most established names in the cryptocurrency space, famed for its ease of use, making it ideal for beginners. It offers a comprehensive range of services, including a secure wallet. Coinbase is also known for its high level of regulatory compliance and strong security measures, though its fees are on the higher side, particularly for small transactions.

Kraken stands out for its wide variety of cryptocurrencies and strong security features, including two-factor authentication and rigorous data protection measures. It offers lower fees than Coinbase, making it attractive to more frequent traders. Kraken’s platform can be somewhat complex for beginners but is highly regarded by more experienced traders for its extensive features and robust security.

Binance offers a vast range of cryptocurrencies and typically lower fees, which makes it popular among a broad spectrum of traders. However, its operation in the UK is complicated by regulatory issues, as it has faced scrutiny from the FCA. This might impact its long-term availability and reliability in the UK market.

PlatformGoogle Trends (Relative Search Volume)Social Media Followers (Combined - Twitter, Facebook)Website Traffic (Similarweb - Estimated Monthly Visits)Review Platforms (Trustpilot - Average Rating)
eToroMedium7.2 MillionMedium4.2 Stars
UpholdLow300,000Low4.1 Stars
MexcMedium (Asia Focus)1.2 MillionMediumN/A
OKXMedium (Asia Focus)1.5 MillionMediumN/A
BinanceHigh15 MillionHigh2.4 Stars
CoinbaseHigh12 MillionHigh2.7 Stars
KrakenMedium4 MillionMedium4.2 Stars

Additional Considerations for UK Users

Taxes: Cryptocurrency investments in the UK are subject to capital gains tax, and the specific tax implications can vary based on individual circumstances. It is essential for users to keep detailed records of their transactions. Consulting a financial advisor for tailored advice is highly recommended to ensure compliance with UK tax laws.

Regulation: The regulatory landscape for cryptocurrencies in the UK is continuously evolving. The FCA is increasingly focusing on consumer protection, particularly concerning anti-money laundering standards and the overall security of crypto exchanges. This changing regulatory environment can significantly impact how exchanges operate and the level of security they can provide to their users. Staying informed about these changes is crucial for anyone involved in the UK crypto market.

Conclusion

In choosing the right crypto exchange in the UK, factors like security, regulation, fees, user experience, market variety, and customer support are essential. Each platform, from eToro’s user-friendly interface to Kraken’s vast market variety, offers unique benefits tailored to different user needs. It’s crucial to assess these features in light of your own trading habits and security requirements.

Start your crypto journey with the best exchange for YOU in the UK! Conduct thorough research, compare the top contenders, and consult reputable resources for up-to-date information. Websites like the Financial Conduct Authority (FCA) and leading cryptocurrency news outlets are valuable sources to help you make an informed decision. Remember, the right exchange can significantly enhance your trading experience and investment success.

 

FAQs

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.

To buy cryptocurrency, you need to create an account with a cryptocurrency exchange where you can trade traditional currency, like dollars or euros, for digital coins. 

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