Best Crypto Exchanges In The UK

Last Updated July 25th 2022
18 Min Read

Find Out The Best Crypto Exchanges To Buy Digital Assets To Begin Your Investment Journey

Best crypto exchanges continue to trend on Google, Yahoo, Bing, and DuckDuckGo due to the plunge of the crypto finance market into new high lows in May 2022. 

Before the market crash, it was widely known that millions of people from several parts of the world have made huge sums of money trading cryptocurrencies. 

The cryptocurrency market is a highly volatile one. 

With that said, with the right strategy in place, it can be extremely rewarding for those who are interested in conducting fundamental and technical analyses to back their investments.

You should know that although anyone can risk funds on the digital assets market, few can become rich by buying and selling cryptocurrencies. 

This is because the crypto news portals found online are primarily focused on the bullishness of the market and not what bears could do to your portfolio.

According to the Financial Conduct Authority (FCA), scammers continue to take off with billions of pounds but most of these cases normally go unreported. 

To become one of the people who made it through buying and selling cryptocurrencies, you must find the right place to buy and sell digital tokens. 

There are hundreds of places to buy crypto in the UK, but some of these places are not the best ways to buy cryptocurrencies. 

This guide will show you the best ways and places to buy and sell cryptocurrencies in 2022 and beyond. 

List Of The Top Crypto Exchanges UK - Quick Overview 

If you have assessed the pros and cons of the issuing authority of a particular cryptocurrency and believe it is the best cryptocurrency for your portfolio, quickly go over the best crypto exchange in the UK right now. 

Consider the five top providers below. 

  • eToro - Overall Best Crypto Exchange in the UK 
  • Coinbase - User-Friendly Crypto Exchange in the UK
  • Binance - Low-Cost Crypto Exchange in the UK
  • Kraken - One of the Best Crypto Exchanges in the UK
  • Crypto.com - Best App for Trading UK

 

Get Started With The Best Crypto Trading Platform In The UK Today

This quick guide explains how to buy and sell cryptocurrency with eToro if you are interested in beginning your investing journey right now. Let us look at how you can get started with the eToro crypto exchange in the UK with these five simple steps: 

  • Step 1: Open a crypto trader account - You should provide legal details of your full name, email address, contact number, and home address. As part of the verification process, eToro will verify your phone number and email address first.
  • Step 2: Verify identity - Per regulations with the Financial Conduct Authority (FCA), eToro will pass you through an extensive verification process called Knowing Your Customer (KYC). You will be asked to upload scanned images of a government-issued identification card that has your signature embossed. ID cards mostly preferred by eToro include passports, widely accepted national cards, and driver’s licenses. Additionally, eToro will request a credit card statement, utility bill, or bank statement. This will help prove your home address. Once eToro is satisfied with the documents, you will become a fully verified account holder. 
  • Step 3: Deposit funds - The next step is to deposit fiat money into your eToro account. Customers in the United Kingdom (UK) have a minimum first deposit of $10 (around £8.15). You can take advantage of the payment methods on eToro such as bank transfers, bank cards, and e-wallets such as PayPal and Skrill. 
  • Step 4: Search for crypto assets - Just enter your preferred cryptocurrency such as BTC, ADA, TRX, EOS, AXS, MANA, ETH, LTC, and others in the search box. Once you find it, click on the “TRADE BUTTON”. 
  • Step 5: Buy crypto - Finally, you must enter the amount of money you are willing to stake in your preferred cryptocurrency. Once done, you can click on “OPEN TRADE” to complete your purchase.

You have just learned in minutes how to buy and sell cryptocurrencies at the UK’s number one crypto exchange – eToro. 

 

buy cryptos now

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

Where Can You Buy And Sell Cryptocurrencies? 

Although you can buy and sell cryptocurrencies from around 600 places, these places fall under three distinct categories. 

They are online payment systems, mobile applications, and exchanges. 

Below, we briefly discuss what each category entails which will help you decide on the best place to buy and sell cryptocurrencies. 

Online Payment Systems    

These are financial services networks that allow you to send and receive money using your email address or phone number. 

Examples of online payment systems that support the trading of cryptocurrencies include but are not limited to Skrill, Neteller, PayPal, and Cash App among others. 

These money transfer wallets allow you to buy, hold, and sell cryptocurrencies on their respective platforms. 

The aforementioned wallets support the United Kingdom. Therefore, you can buy and sell crypto tokens. 

It should be noted that PayPal allows the trading of Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum (ETH). 

Cash App integrated with the Lightning Network in early 2022 to allow its users to send and receive cryptocurrency cheaply and quickly. Among others, you can buy, hold, and sell Bitcoin. 

Skrill supports more than 30 cryptocurrencies and includes Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polygon (MATIC), Litecoin (LTC), Uniswap (UNI), Stellar Lumens (XLM), Chainlink (LINK), Ethereum Classic (ETC), Cosmos (ATOM), Decentraland (MANA), Tezos (XTZ), Maker (MKR), The Graph (GRT), Aave (AAVE), Celo (CELO), Dash (DASH), Curve (CRV), Loopring (LRC), Compound (COMP), Bancor Network Token (BNT), Ox (ZRX), Kyber Network (KNC), Ankr (ANKR), Synthetix (SNX), Storj (STORJ), Uma (UMA), SushiSwap (SUSHI), NuCypher (NU), Numeraire (NMR), Balancer (BAL), Iotex (IOTX), Band Protocol (BAND), and Shiba Inu (SHIB).

Currently, Neteller supports around 28 cryptocurrencies.

You should note that you must be a fully verified member before you can buy and sell cryptocurrencies on the aforementioned platforms. 

In addition to this, they only allow cryptocurrency to fiat pairings such as BTC/USD. There is no crypto for other cryptos or stablecoin pairings, as of writing.

Mobile Applications 

It is not surprising to come across the best app for cryptocurrency trading UK on search engines. 

As of 2022, all places to buy crypto have a mobile application that can facilitate such transactions.

This is the primary reason why many people believe crypto apps are among the easiest and fastest ways to buy cryptocurrencies. You can search for the crypto app of your preferred place to buy digital assets from Google Play and Apple Stores. 

Once you find them, you can buy your preferred tokens within minutes and see them reflected in your account. 

Exchanges 

Over 500 exchanges are supporting the trading of cryptocurrency exchanges. Exchanges come in centralized and decentralized ways. Centralized exchanges, normally abbreviated as CEXs, prioritize regulation and are controlled by groups of people who can be found in office buildings.

On the other hand, decentralized exchanges, normally abbreviated as DEXs, prioritize anonymity and are controlled by groups of people (community) who can only be traced online.

Centralized exchanges normally allow their customers to swap cryptocurrency for fiat (BTC/GBP, ETH/GBP, and ADA/GBP), cryptocurrency for other coins (ETH/BTC, BTC/ADA, TRX/BNB), and digital assets for stablecoins (ETH/USDT, BTC/USDC, and ADA/BUSD). 

Decentralized exchanges normally allow their customers to swap crypto for other cryptos.

Examples of centralized exchanges are eToro, Binance, Kraken, Crypto.com, Coinbase, Gate.io, BitMart, Changelly PRO, and others. 

Examples of decentralized exchanges are Uniswap, SushiSwap, PancakeSwap, DODO, 1inch, and Balancer among others.  

As a beginner, it will be difficult at first to find the best place to buy cryptocurrencies. 

Although we discussed several ways, especially centralized and decentralized exchanges, we will urge you to use centralized exchanges for your cryptocurrency investments. 

Now that we are on the same page, let us do a thorough examination of five of the best exchanges to buy and sell cryptocurrencies.

 

Best Crypto Exchanges UK - Full Reviews 

There are several factors you need to consider before settling on an exchange. Some of these factors include but are not limited to fees, cryptocurrency support, payment method, customer support, and geographical restrictions.

After taking all the factors above into perspective, let us view the best crypto exchanges in the UK right now. 

1. eToro - Overall Best Crypto Exchange In The UK

etoro crypto exchange

We came across eToro as the best cryptocurrency exchange in the UK based on its reputation in an already saturated market. 

Founded in 2007, eToro was into stocks, exchange-traded funds (ETFs), indices, commodities, and metals until the exchange made a transition into cryptocurrencies in 2014

Currently, eToro supports around 78 cryptocurrencies. 

Serving more than 20 million customers from more than 100 countries, eToro allows novice or beginner traders to follow the patterns of experts in the form of copy trading

With a simple user interface, beginners can learn how to trade using the eToro demo account with around $10,000 in virtual funds. Once you gain the right experience, you can risk funds on a live account.

Unlike other exchanges that have several fee structures, eToro is quite straightforward. 

Payment methods supported by eToro include bank cards (debit and credit cards from Maestro, MasterCard, and VISA), e-wallets (PayPal, Skrill, Neteller, Rapid Transfer, and iDEAL), and bank transfers (wire and automated clearinghouse).

eToro records billions of dollars in daily trading volume and has the necessary encryptions to protect your custodial wallet and can be accessed by downloading on Apple/Google Play Store as well as used on the World Wide Web. 

eToro introduced Staking so you can earn a decent passive income periodically. 

There is the eToro Crypto Portfolio which comprises a basket of cryptocurrencies. 

A single investment could see you get decent annual percentage yields (APYs). 

Finally, eToro offers the best crypto coins such as Bitcoin, Ethereum, Ripple, ApeCoin, Solana, and others. 

Additionally, you can find meme-inspired currencies and metaverse tokens.

Overall, eToro is not only one of the cheapest places to buy cryptocurrencies in the UK but among the best crypto exchanges available in the UK. 

buy cryptos now

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

2. Coinbase - User-Friendly Crypto Exchange In The UK

coinbase crypto exchange

One of the best crypto exchanges in the UK in the decentralized finance stratosphere is Coinbase. 

Coinbase offers more than 130 cryptocurrencies in over 390 markets. 

Coinbase has more than 89 million registered users. 

Coinbase supports more than 100 countries. 

Launched in 2012, Coinbase has not been mired in any hacking or scamming controversies. 

In the last 10 years, Coinbase has integrated great security measures that have helped protect the custodial wallet of millions of its customers. 

Coinbase is among the biggest cryptocurrency exchanges by trading volume. 

Recording more than $2 billion in daily volume, you can make orders knowing there is an abundance of liquidity on the exchange to help meet your needs, and preferences.

Coinbase can be accessed via the Coinbase APP via the Apple Store for iOS-powered smart devices. 

Additionally, the Coinbase APP can be downloaded on the Google Play Store for Android-powered smart devices.

Payment methods supported by Coinbase include debit card deposits, bank transfers, and PayPal.

Coinbase provides advanced trading features for customers and also has staking services that can help users make decent rewards.

As one of the best crypto exchanges in the UK, you can use Coinbase to begin your journey into the volatile world of digital assets. 

buy cryptos now

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

3. Binance - Low-Cost Crypto Exchange In The UK

binance crypto exchange

Despite Binance’s issues with the Financial Conduct Authority (FCA), Binance remains one of the best crypto trading platforms in the UK. 

Founded in 2017, the exchange is part of the Binance ecosystem which includes decentralized exchanges such as PancakeSwap, stablecoins such as Binance United States Dollar (BUSD), and other dApps such as Alpaca Finance, Venus, and CREAM Finance. 

As of October 2021, there were more than 28 million users of the exchange. 

Binance is the biggest exchange by trading volume. 

It records at least $10 billion daily and once reached a peak 24-hour trading volume of approximately $76 billion

There are over 300 cryptocurrencies supported by Binance and more than 1,300 markets. 

This makes it easy to trade crypto for fiat money such as BTC/GBP, crypto for other digital coins such as (BTC/ETH), and crypto for stablecoins such as BTC/BUSD

Binance is highly accessible and can be found via its online address on the World Wide Web. 

What’s more, Binance can be found through its mobile application on Google Play and Apple Stores. 

As a high liquidity exchange, at its peak, Binance is capable of processing at least 1 million orders per second. 

Moreover, Binance has put in place the necessary security measures to protect the accounts of millions of its customers. 

Payment methods on Binance include bank cards, bank transfers, and direct crypto deposits via TrustWallet (Binance’s official crypto wallet). 

Binance offers staking services to its users so that they can make periodic earnings on their dormant crypto holdings. 

Overall, Binance is one of the best places to buy crypto in the UK but the exchange is not beginner-friendly. 

Also, the platform does not support payment methods in the form of e-wallets (PayPal, Skrill, and others). 

With that said, Binance remains one of the cheapest ways to buy crypto in the United Kingdom.

buy cryptos now

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

4. Kraken - One of the Best Crypto Exchanges in the UK

kraken crypto exchange

As one of the best cryptocurrency platforms in the UK, Kraken is one of the pioneer exchanges in the crypto finance space. 

Launched in 2011 in San Francisco, Kraken is one of the biggest crypto exchanges by trading volume. 

With at least $1 billion in daily volume, Kraken supports more than 100 cryptocurrencies and has more than 400 markets for users to choose from. 

As of May 2022, the exchange has more than 6 million customers. 

Kraken supports more than 100 countries and can be found on the Apple Store and Google Play Store for iOS and Android-powered smart device users. 

Aside from these, Kraken can be found via the World Wide Web across all the search engines available in the United Kingdom. 

You can make deposits on Kraken through bank transfers in the form of SWIFT, Single Euro Payments Area (SEPA), and automated clearinghouse (ACH). 

With regards to security, over 95% of digital assets are held in cold storage. This frees your crypto holdings from being hacked by third parties through cybersecurity attacks. 

Kraken has one of the smoothest verification processes in the space due to recent upgrades. 

Overall, Kraken remains one of the fastest and easiest ways to buy Bitcoin. 

With that said, some of the negatives associated with Kraken are that it is not beginner-friendly, and it’s tailored towards the needs of advanced traders.

buy cryptos now

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

5. Crypto.com - Best App for Trading In The UK 

crypto.com exchange

As one of the safest places to buy cryptocurrency, Crypto.com was launched in 2016 to support the trading of cryptocurrencies.

With more than 50 million users on its platform, Crypto.com supports more than 250 cryptocurrencies in the UK and can be found in over 100 countries worldwide. 

With more than $1 billion in daily volume, Crypto.com is a top 20 exchange when this metric is considered. 

Crypto.com APP can be found on the Google Play Store for users of Android-powered devices such as smartphones, tablets, pads, and notebooks among others. 

In addition to this, Crypto.com APP can be found on the Apple Store for users of iOS-powered devices such as iPhones and iPads among others. 

As one of the best websites to buy cryptocurrency in the UK, Crypto.com can be accessed via their online address on the web.  

As a beginner-friendly exchange, Crypto.com supports debit and credit cards as payment methods. 

In addition to this, bank transfers from Ally, Chase, Morgan Stanley, Goldman Sachs, and Bank of America are accepted by the exchange. 

Direct crypto deposits via Crypto.com Pay through MetaMask and WalletConnect are also supported.

Crypto.com staking allows users to earn up to 14.5% on their digital asset holdings. 

You can also get up to 8% cashback using the Crypto.com VISA card in several stores.  

Overall, Crypto.com remains one of the best sites to buy cryptocurrency in the UK. 

Unfortunately, the platform comes with relatively higher fees unless you use their native asset, CRO. 

What’s more, the customer support system could do with some improvements.

buy cryptos now

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

How To Find The Best Cryptocurrency Exchanges In The UK 

In your search towards finding the best crypto exchange in the UK, you should have several factors in mind that you would like to consider. 

These factors are extremely important in your quest to buy crypto from any cryptocurrency exchange in the UK. 

Below, let us take an extensive look at some of these factors, and how they can impact your trading decisions in the future. 

Regulation and Safety 

Under the section, where you can buy and sell cryptocurrencies, we pointed out centralized and decentralized exchanges. 

Despite the advantage of anonymity when you choose DEXs, we would like you to settle on a centralized exchange. 

The crypto finance space is too volatile for you to remain anonymous. The plunge in the value of Terra LUNA has seen millions of people searching for the founder of the project, Do Kwon. More than $500 million has been lost in the Terra project and Do Kwon has announced measures to revive the project.

Should any positives come out of this, those who chose platforms that are regulated could retrieve some of their investments. 

Aside from Terra, there have been several incidents of exchange hacks. 

Since most CEXs have insurance, it becomes easy for the exchanges to indemnify holders of the coins. 

Settle on exchanges that request an ID card and one credit card statement, bank statement, or utility bill to fully verify your account. 

eToro is a regulated exchange that has been in the space for more than 15 years. 

We recommend eToro as the best place to buy and sell cryptocurrencies in the UK. 

Ease of Use

As a novice or beginner trader, it would be wise for you to choose an exchange that is easy to navigate. This allows you to enjoy your trading journey. 

While some exchanges have an easy-to-navigate interface, others have fairly complex platforms. 

Settle on an exchange that has a smooth verification process, makes it easy to find cryptocurrencies, and executes orders within a short time. 

This will help you take advantage of the market during bearish seasons and rake in huge returns when the bulls come along in the future. 

eToro has been rated highly by millions of users and can be said to be one of the easiest places to buy and sell cryptocurrencies in the UK. 

Payment Methods

What is your preferred payment method? 

There are bank cards, bank transfers, e-wallets, and direct crypto deposits and withdrawals. 

Despite regulations, millions of people are not ready to share personal information with cryptocurrency exchanges. 

As a result, some prefer crypto deposits while others prefer using e-wallets such as PayPal, Skrill, or Neteller that only demand an email address, or a phone number. 

Some traders feel comfortable using bank transfers (wire and automated clearinghouse) to oversee their deposits and withdrawals. Which one are you?

Find time to study all the exchanges that support your favourite cryptocurrency. 

Once they support your payment, you can settle on them as the best way to buy and sell cryptocurrency. 

With that said, out of the aforementioned payment methods, eToro meets 3 out of 4.

As an e-learning organization that has studied several exchanges, eToro has several best methods of buying and selling cryptocurrencies. 

Fees

Do everything in your capacity not to fall victim to fee-free cryptocurrency trading. 

As of writing, there are no exchanges where you can go through deposits, trading, and withdrawal without paying any fees. 

You should know that there are three types of fees

There are fees associated with depositing, processing orders, and withdrawing gains. 

Understand the fee structure of your preferred exchange. 

While some exchanges allow free deposits, others charge 2.99% to 4.99% on the amount deposited. 

This means that should you wish to buy $100 worth of a particular cryptocurrency, you will have to deposit around $105 before your investment dream will come to fruition. 

Among the more than 500 exchanges, you can enjoy free deposits on e-wallets, bank cards, and bank transfers on eToro Exchange. This makes eToro one of the best and cheapest ways to buy and sell cryptocurrencies in the UK.  

Customer Support 

If you are in the UK, you need to choose an exchange that has representatives who understand British terminology.

This will be highly invaluable to your success story as a cryptocurrency trader or investor. 

Once you find an exchange that can settle any issues you may have, you have found one of the best sites to buy and sell cryptocurrencies in the UK.

Geographical Restriction 

You may come across cryptocurrency exchanges that offer awesome bonuses but do not support residents of the United Kingdom. 

Due to the advancement in technology that allows anyone to change the location of their online address (Internet Protocol), it has become easy to use websites that have been banned by your country. 

Do not fall into the use of Virtual Private Networks (VPNs) to change your location from the UK to another country a particular exchange supports. 

Due to the scams and hacks associated with the space, cryptocurrency exchanges continue to take appropriate measures to weed out signs of fraud and money laundering. 

Once you are unable to provide accurate details about the legality of your ownership of an account, your holdings will be locked forever. 

Since the exchange never supported the UK, you will be in an unfortunate situation where you are unable to pursue a legal case against them. 

Settle on exchanges such as eToro, Coinbase, Binance, Kraken, and Crypto.com since they support all areas of the United Kingdom. 

buy cryptos now

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

Best Crypto Exchange In The UK - Final Verdict 

No matter the level of your trading experience, you cannot stop searching for the best platforms to buy cryptocurrencies. 

This guide pointed out several places and exchanges to buy and sell cryptocurrencies in the UK. 

With that said, in your quest to buy cryptocurrencies, you should know that digital asset investment comes down to two factors and they are risks and rewards. 

Always ask the question, do the potential rewards of buying cryptocurrencies outweigh the possible consequences of the risks involved in investing in them

Cryptocurrencies are highly volatile, continue to increase in number daily, and have become an integral part of dark web activities for criminals who have realized an easy way to make millions. 

On the other hand, as of May 2022, the market continues to recover from the bearish engulfing. 

This means that the prices of cryptocurrencies are now in the range of small capital investors. You can own millions of coins and arrive at substantial returns in the long term. 

Investing in cryptocurrencies has led to the loss of life savings by millions but crypto investments have also made millionaires out of people. 

Therefore, invest in crypto an amount of money you can afford to lose. 

If you are in a hurry to buy digital assets, we would like to recommend eToro as our overall best place to buy cryptocurrencies in the UK. 

eToro - The Best Crypto Exchange In The UK

Open an account with eToro, deposit some funds with USD, and finally – buy cryptocurrencies for just $10.

eToro cryptocurrency trading

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

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