HomeInvestmentsBest Crypto Exchanges UK

Best Crypto Exchanges in the UK in 2022

Last updated 23rd Nov 2022
Disclosure

The cryptocurrency exchange you decide to use for your investing needs matters because it can affect your profits and overall trading experience. Due to the overwhelming number of available exchanges in the UK, it can be a difficult process to select the ideal platform. Therefore, we’ve curated this in-depth guide that examines the best crypto exchanges in the UK. We’ll discuss how to pick an exchange based on your needs and which platforms are best for specific investing activities.

Top 10 Best Crypto Exchanges in the UK at a Glance

  • Overall best crypto exchange for beginners: eToro

  • Most cryptocurrencies available: Gate.io

  • Best exchange with an app: Crypto.com

  • Crypto exchange with lowest fees: Binance

  • Most payment methods available: Gemini

  • Best for altcoins trading: KuCoin

  • Best crypto exchange in the UK: Coinbase

  • Most secure crypto exchange: Kraken

  • Best crypto exchange for experienced traders: CEX.io

  • Best decentralized crypto exchange: PancakeSwap

Best Crypto Exchanges Reviewed in the UK

This table highlights the top 10 best cryptocurrency exchanges to use in the UK. They have been selected for their premium customer support, trading pairs available, security, deposit methods, and more. We’ll also provide a mini-review of each platform in case you want to learn more about them.

#ProviderFee (GBP 1000)Number of Crypto Trading Pairs1CoinbaseStarting from 0.6%; varies based on trading volume.5412eToro1% fee for buying or selling crypto.1563Crypto.comStarting from 0.075%; varies based on trading volume.3964KrakenStarting from 0.26%; varies based on trading volume.6535BinanceStarting from 0.1%; varies based on trading volume.14486KuCoinStarting from 0.1%; varies based on trading volume.12917Gate.ioStarting from 0.2%; varies based on trading volume.27908GeminiStarting from 0.4%; varies based on trading volume.1319PancakeSwap0.25% trading fee393110CEX.ioStarting from 0.25%; varies based on trading volume.248

Coinbase - Best for UK Investors

Coinbase is a beginner-friendly crypto exchange that makes the process of acquiring coins effortless. The platform features an instant buy section where you can immediately purchase coins via debit card. Alternatively, you can access the trading interface that shows information about the coin, like who created it, its market cap, and recent price movements.

Once you’ve bought cryptocurrency, you have access to various staking pools to earn interest on your crypto. Additionally, Coinbase provides many services that can be potentially profitable, like derivatives, borrowing, and NFTs.

The learning section is brilliant for total beginners because it covers the basics of crypto and trading. Also, Coinbase provides courses about specific cryptocurrencies, which reward you with coins upon completion.

Is Coinbase available in the UKYesNumber of cryptocurrencies226Number of cryptocurrency pairs541Deposit fee0Trading feeStarting from 0.6%; varies based on trading volume.Additional feesNoneWithdrawal fees0Minimum order valueGBP 2Minimum depositNo minimum depositDoes Coinbase have a wallet?YesDoes Coinbase have an app?YesAdditional servicesStaking, derivatives, Coinbase card, NFT marketplaceKYC requiredYesMaximum leverage3xPlatformsWindows, MacOS, iOS, Android

eToro - Best for Beginners

eToro is a fantastic platform for buying cryptocurrency, especially if you’re a beginner. This is because eToro features easy-to-use trading software, popular deposit methods, and live chat customer support. Also, if you don’t want the hassle of trading or don’t have the time to keep up with the market, you can copy trade successful portfolios.

Unlike most cryptocurrency brokers, eToro lets you withdraw coins to a private wallet for better storage. Also, eToro has recently added staking to their services, allowing you to earn coins for supporting the cryptocurrency’s network. The reward system is based on tiers and will affect your profitability. Here are the reward percentages based on account tier:

  • 75% for bronze members

  • 85% for silver, gold, and platinum members

  • 90% for diamond, platinum+ members

Another amazing feature eToro offers is the educational section, which contains in-depth guides and tutorials. Also, you can easily keep up with current trends by visiting the crypto news and analysis section.

Is eToro available in the UKYesNumber of cryptocurrencies78Number of cryptocurrency pairs156Deposit fee0Trading fee1% fee for buying or selling crypto.Additional feesNoneWithdrawal feesGBP 5Minimum order valueGBP 10Minimum depositGBP 10Does eToro have a wallet?YesDoes eToro have an app?YesAdditional servicesCopy trading, staking, eToro academyKYC requiredYesMaximum leverage2xPlatformsWindows, MacOS, iOS, Android

Crypto.com - Best for Smartphone Users

Crypto.com is ideal for investors who are looking to buy and spend cryptocurrencies. The brand offers a visa card with cashback rewards of up to 5% and different tiers. Based on these tiers, you are inclined to receive some great perks like increased CRO rewards, Spotify subscription, Amazon Prime, Netflix, and more.

Buying cryptocurrencies on Crypto.com is convenient as you have multiple options. You can instantly buy coins using your debit or credit card, spot trade, or use the DEX. Moreover, margin trading is available if you want to increase your position’s value.

In addition, Crypto.com has its own news section where you can learn about the company’s new developments. Also, a university is available that teaches investors different topics like margin trading, metaverse projects, and proof-of-stake works is available.

Is Crypto.com available in the UKYesNumber of cryptocurrencies230Number of cryptocurrency pairs396Deposit fee0Trading feeStarting from 0.075%; varies based on trading volume.Additional feesNoneWithdrawal fees0Minimum order valueNo minimum trading amount requiredMinimum depositNo minimum depositDoes Crypto.com have a wallet?YesDoes Crypto.com have an app?YesAdditional servicesStaking, Crypto.com visa card, NFTs, derivatives, margin trading.KYC requiredYesMaximum leverage100xPlatformsWindows, MacOS, iOS, Android

Kraken - Best for Security

Kraken is ideal if you value security because this exchange takes extra steps to ensure user protection. It has real-time monitoring, offline cold storage, SSL encryption, and more. As a result, Kraken has never been hacked since it was founded in 2011.

Spot trading with Kraken is simple because it doesn’t overcomplicate the process with complex interfaces and information overloading. Investors can also place different order types - market, stop-loss, and limit.

After buying your coins, staking is available with APYs ranging from 1% to 20%. Also, Kraken is one of the only platforms that offer staking for EUR and USD.

Is Kraken available in the UKYesNumber of cryptocurrencies230Number of cryptocurrency pairs396Deposit fee0Trading feeStarting from 0.26%; varies based on trading volume.Additional feesNoneWithdrawal fees0Minimum order valueGBP 1Minimum depositNo minimum depositDoes Kraken have a wallet?YesDoes Kraken have an app?YesAdditional servicesStaking, account management, indices, margin tradingKYC requiredYesMaximum leverage100xPlatformsWindows, MacOS, iOS, Android

Binance - Best for Low Fees

Binance is the largest exchange worldwide with over 120 million registered users. Therefore, the exchange can afford to provide a favorable fee structure. The starting cost for spot trading with Binance is 0.1%. However, you can instantly get a 25% discount on fee costs by using the BNB token. This is Binance’s native cryptocurrency that is considered an investment asset and a utility token.

In addition to spot trading, Binance offers many useful services like futures, leveraged tokens, staking, mining pools, crypto loans, NFTs, and a DEX. Also, you can visit the academy to expand your cryptocurrency knowledge.

Is Binance available in the UKYesNumber of cryptocurrencies357Number of cryptocurrency pairs1448Deposit feeGBP 0Trading feeStarting from 0.1%; varies based on trading volume.Additional feesNoneWithdrawal fees0Minimum order valueGBP 10Minimum depositNo minimum depositDoes Binance have a wallet?YesDoes Binance have an app?YesAdditional servicesNFT marketplace, staking, lending, futures, derivativesKYC requiredYesMaximum leverage50xPlatformsWindows, MacOS, iOS, Android

KuCoin - Best for Altcoin Trading

KuCoin is an excellent choice for trading altcoins as they have listed 736 cryptocurrencies. The trading software is designed well, and utilizing the tools is easy. Also, you can margin trade with up to 100x.

Unlike most exchanges, KuCoin does not allow fiat currency deposits, and you can only fund your account with cryptocurrency. However, buying crypto instantly with a Visa or MasterCard is available.

Another great benefit of KuCoin is that you don’t need to complete KYC to trade. You can deposit crypto and use the spot trading interface to buy the coins you need. Unfortunately, avoiding verification means you will have withdrawal limits.

Furthermore, this exchange has an impressive bot feature where you can set up trading robots to execute orders for you. The parameters will determine how well the robot works, and the software will calculate estimated profits before starting.

Is KuCoin available in the UKYesNumber of cryptocurrencies736Number of cryptocurrency pairs1291Deposit fee0Trading feeStarting from 0.1%; varies based on trading volume.Additional feesNoneWithdrawal feesVaries between cryptocurrenciesMinimum order valueGBP 10Minimum depositNo minimum depositDoes KuCoin have a wallet?YesDoes KuCoin have an app?YesAdditional servicesInstant buy with debit card, derivatives, spot trading, NFT marketplace, stakingKYC requiredYesMaximum leverage100xPlatformsWindows, MacOS, iOS, Android

Gate.io - Best for Cryptocurrency Availability

Gate.io is a well-equipped exchange offering a diverse range of services. To buy cryptocurrencies, you can use the spot trading interface that is straightforward to navigate. Alternatively, you can use the convert feature, which would be easier for beginners as it avoids using trading software.

However, if you’re a complete beginner, you may consider using the copy trading feature. This is where you can copy successful traders and make the exact investments they would do. Gate.io shows the trader's recent history and how well they have performed.

Also, Gate.io provides a learn and earn section with guides about various crypto-related subjects. After completing a topic, you’ll earn some free cryptocurrency.

Is Gate.io available in the UKYesNumber of cryptocurrencies1518Number of cryptocurrency pairs2790Deposit fee0Trading feeStarting from 0.2%; varies based on trading volume.Additional fees0Withdrawal feesVaries between withdrawal methodsMinimum order valueGBP 10Minimum depositNo minimum depositDoes Gate.io have a wallet?YesDoes Gate.io have an app?YesAdditional servicesDerivatives, copy trading, staking, cloud mining, strategy botsKYC requiredYesMaximum leverage10xPlatformsWindows, MacOS, iOS, Android

Gemini - Best for Most Payment Methods Available

Gemini is a well-known brand that has been featured in the New York Times, Forbes, and the Wall Street Journal. The exchange offers over 100 cryptocurrencies to buy, sell, and store. Also, staking is available for popular coins like Ethereum with up to 4.67% APY.

Gemini takes security seriously and has a dedicated section to showcase newcomers how safe their funds are. Multiple signatories are required to transfer coins out of cold storage, all employees undergo a rigorous background check, and the hardware Gemini relies upon has received FIPS 140-2 level 3 ratings. Also, you can increase your own security with Gemini by whitelisting your crypto addresses and using 2FA.

Furthermore, the ActiveTrader is perfect for expert traders because it comes with advanced charting and multiple order types. Beginners can utilize the Gemini exchange, which doesn’t feature complicated interfaces.

Is Gemini available in the UKYesNumber of cryptocurrencies106Number of cryptocurrency pairs131Deposit fee0Trading feeStarting from 0.4%; varies based on trading volume.Additional feesNoneWithdrawal fees0Minimum order valueNo minimum trading amount requiredMinimum depositNo minimum depositDoes Gemini have a wallet?YesDoes Gemini have an app?YesAdditional servicesInstant buy section, Gemini Earn, staking, walletKYC requiredYesMaximum leverageLeverage trading is not availablePlatformsWindows, MacOS, iOS, Android

PancakeSwap - Best for Trading Anonymously

PancakeSwap is a top-tier decentralized exchange that connects traders anonymously. Currently, the DEX supports Ethereum, Binance Smart Chain, and Aptos networks. Also, over a dozen cryptocurrency wallets are compatible with PancakeSwap, including MetaMask, Coinbase Wallet, and Binance Wallet.

Trading on PancakeSwap with the swap section is easy, and you will see the fees before accepting the transaction. Also, the DEX a native cryptocurrency called CAKE, which you can add to liquidity pools to earn rewards.

Also, a huge benefit of PancakeSwap is that you can purchase coins that are not listed on major exchanges. This lets you buy in early and build your stack before it becomes popular on large platforms.

Is PancakeSwap available in the UKYesNumber of cryptocurrencies3476Number of cryptocurrency pairs3931Deposit feeN/ATrading fee0.25% trading feeAdditional feesNoneWithdrawal feesN/AMinimum order valueNo minimum order value. However, you must have enough to cover gas fees.Minimum depositN/ADoes PancakeSwap have a wallet?NoDoes PancakeSwap have an app?YesAdditional servicesLiquidity pools, farms, competitions, NFTs, futuresKYC requiredNoMaximum leverage100xPlatformsWindows, MacOS

CEX.io - Best for Experienced Traders

CEX.io is a premium cryptocurrency exchange that has many useful features for advanced traders. The spot trading software allows investors to place different order types like market, stop-loss, and limit. Also, margin and CFD trading are available with up to 100x leverage.

Although being an advanced platform, beginners are welcome to use the instant buy section, which avoids complicated trading interfaces. The university has courses ranging from beginner to advanced difficulty and teaches everything you’ll need to know about trading.

All in all, CEX.io is a great platform to trade on due to the multiple features provided, like crypto loans, staking, and a wallet. Also, you can order a debit card that allows you to pay with crypto and receive cashback rewards

Is CEX.io available in the UKYesNumber of cryptocurrencies130Number of cryptocurrency pairs248Deposit fee0Trading feeStarting from 0.25%; varies based on trading volume.Additional feesNoneWithdrawal feesGBP 20Minimum order valueGBP 10Minimum depositGBP 20Does CEX.io have a wallet?YesDoes CEX.io have an app?YesAdditional servicesUniversity, blog, loans, instant buy, CEX.io debit card, stakingKYC requiredYesMaximum leverage100xPlatformsWindows, MacOS, iOS, Android

How to Buy Crypto on an Exchange in the UK

This section is a rundown of how to buy cryptocurrency on an exchange. To make it easier, we’ll use Coinbase as an example.

Create an Account

Open the official Coinbase website and click the “Get Started” button. Then provide your name, email, password, and certify you are over 18 years old. Next, verify your email and identity to complete the sign-up process.

Deposit Funds

Open the deposit section and choose your method of funding. Below you can see which payment methods are available and their deposit speeds.

Deposit MethodDeposit TimeDebit cardInstantPaypalInstant3D secure cardInstantVisa cardInstantBank transferUp to 1 business day

Buy Cryptocurrency

Click the “Buy and Sell” section under the “Individuals” tab to begin buying crypto. Then choose the coin you want to buy, which will direct you to the trading interface. Next, choose how many coins to purchase and complete the order.

Best Crypto Exchanges for Top Cryptocurrencies in the UK

These are the best exchanges for buying specific coins. However, if the selected platform doesn’t meet your needs, you can check out our detailed reviews below.

CryptocurrencyBest ExchangeBitcoinBinanceEthereumCoinbase ProRippleeToroCardanoCoinbaseDogecoinBinanceShiba InuBinanceAlgorandCoinbase

What Are Crypto Exchanges?

Cryptocurrency exchanges are businesses that allow customers to trade cryptos and other assets via their services. They allow individuals to acquire real coins they can withdraw, stake, loan, and spend.

How Does a Crypto Exchange Work?

Cryptocurrency exchanges function by using an order book system. The exchange accepts buy and sell orders and filters them by price. The order book will display live trades, which will impact the rate of the trading pair. This is why we can see price discrepancies between exchanges as the liquidity and trade orders differ.

Also, you can set different order types that will affect how the trade is fulfilled. For example, when you set a buy order for GBP 10,000 worth of Bitcoin, it goes into the order book, and the exchange will try to match the order with the best available prices. Alternatively, you set the price with limit orders, and the exchange will match sell orders at the same value.

What Is the Difference Between a Crypto Wallet and an Exchange?

Cryptocurrency wallets are mainly used to store coins. However, they come with many features you’d find on an exchange, like converting coins and staking. The main difference between both platforms is exchanges are primarily for investing and buying coins, while wallets are best for spending and storing cryptos.

What Are the Types of Crypto Exchanges?

This part of the guide explains what types of exchanges are available to use.

Centralized Exchanges (CEX)

CEXs are platforms owned by a company that oversees the whole operation. Centralized exchanges fulfill trades by using an order book, which is visible on the trading interface. A few great CEXs worth checking out are Coinbase, Binance, and Kraken.

Decentralized Exchanges (DEX)

Decentralized exchanges differ from CEXs as they use liquidity pools to operate. They are not owned by a singular entity and run by using smart contracts. PancakeSwap and Uniswap are the overall top choices due to their high liquidity and coin variety.

Hybrid Exchanges

Hybrid exchanges are a combination of DEXs and CEXs. These platforms allow users to buy coins via spot trading or instant buy and trade anonymously through a decentralized exchange. Crypto.com and Binance are the leading brands that offer this service.

P2P Exchanges

P2P services allow investors to trade without going through a 3rd party like an exchange. Instead, traders can buy cryptocurrency directly from the seller, which usually results in fewer fees. Binance P2P and KuCoin P2P provide an outstanding user experience for this type of buying method.

What to Consider When Choosing a Crypto Exchange?

When selecting a cryptocurrency provider, there are a few aspects to account for, like trading pairs, coin variety, and fees. This section is a rundown of the best cryptocurrency exchanges for specific uses.

Number of Cryptocurrency Trading Pairs Available

Having multiple trading pairs is convenient since you don’t need to swap your coins multiple times to trade for the crypto you want. Therefore, it's important to check beforehand that the exchange offers the trading pairs you plan to utilize.

#Brand# Cryptocurrency Trading Pairs1Binance14482Gate.io27903KuCoin1291

Your Cryptocurrency Trading Knowledge

When searching for your next exchange, take into account your trading knowledge. If you’re an expert trader, you’d want a platform with advanced tools and helpful analytics. On the other hand, if you’re a complete beginner, you may get overwhelmed with the extra features at your disposal.

Best Crypto Exchanges for Beginners

Coinbase, eToro, and Crypto.com offer the best services for beginners. Also, they all have excellent educational content and tutorials on how to use their platform.

#BrandMinimum Deposit1CoinbaseNo minimum deposit2eToroGBP 103Crypto.comNo minimum deposit

Best Crypto Exchanges for Advanced Traders

If you’re an expert trader, you may require using advanced tools and different trading styles. The exchanges below were selected for their trading software, leverage options, and crypto robot integrations.

#BrandTop Advanced Features1BinanceFutures, derivatives, strategy trading2CEX.ioCrypto loans, margin trading, trading API3PancakeSwapLiquidity pools, leverage trading

Consider Your Needs: Owning, Trading or Staking?

Consider your needs - owning, trading, loaning, staking, and so on. Exchanges differ in the services they provide like coin variety, trading pairs, and staking options, which can impact your decision to create an account. So in some cases, you may need to sign-up for multiple exchanges to receive the services you require.

Best Exchanges to Stake Crypto

This table highlights the best exchanges for staking cryptocurrency.

#BrandCrypto Interest RateExchange Type1Coinbase2.60% to 5.75%CeFi2Binance0.85% to 8.70%CeFi3Crypto.com3% to 12.50%CeFi

Compare Crypto Exchange Fees

Here you can see what fees you’d pay for buying $1,000 worth of cryptocurrency.

CoinbaseeToroBinanceKrakenDeposit fee0000Withdrawal fees0GBP 500Purchase feeGBP 6GBP 10GBP 1GBP 3Selling feesGBP 4GBP 10GBP 1GBP 2Holding fee0000Total feeGBP 10GBP 10GBP 10GBP 5

Consider Crypto Exchange Reputation and Security

The first detail to look at with exchanges is their reputation and how users’ investments are protected. You can easily verify if a platform is trustworthy by reading reviews left by previous investors. Here are the most secure crypto platforms and their top security features:

#BrandTop Security FeaturesYear Founded1KrakenPenetration testing, 2FA, email confirmations, real-time monitoring, encrypted sensitive data20112BinanceAddress whitelisting, 2FA, secure storage, advanced data encryption, real-time monitoring20173Coinbase2FA, state-of-the-art encryption, multi-approval withdrawals, cold storage2012

Where Do You Plan to Store Crypto?

After buying crypto, the final step is storing it safely. Leaving coins on an exchange is not a bad option as they have improved security over the years. However, there is still a risk of funds getting hacked. Therefore, you’ll want to use a cryptocurrency wallet, especially if you hold a large sum of coins.

Hardware wallets are great for storing coins since they keep your private keys offline. However, if you plan to trade often, then a software wallet is the next best alternative. Not your keys, not your crypto.

Best Crypto Exchanges With a Wallet

#BrandWallet App1BinanceYes2CoinbaseYes3Crypto.comYes

Which Deposit and Withdrawal Methods Are Available?

Here you can examine the top platform for popular deposit and withdrawal methods. Also, if you’d like to know more about a specific payment method, we’ve provided our in-depth reviews.

Payment MethodBrandPayPalCoinbaseSkrilleToroNetellerBitpandaBank TransferCoinbaseDebit cardCoinbaseCredit CardCrypto.comPrepaid CardCEX.ioPaySafeCardeToro

Can You Buy Crypto on an Exchange Anonymously?

Yes, many platforms let you acquire cryptocurrencies without disclosing your identity. DEXs are the top choice since you don’t need to create an account or upload ID. However, you can also use a centralized exchange since some allow you to trade without completing the verification process.

Best Crypto Exchanges Without Verification and Registration

BrandRegistrationKYCLimitationsKuCoinYesNoWithdrawal limitsPancakeSwapNoNoCannot buy crypto with fiat currencyBinanceYesNoFiat deposit methods unavailable and withdrawal limits.UniSwapNoNoCannot buy crypto with fiat currencyPaybisYesNoNonedYdXNoNoCannot buy crypto with fiat currency

Taxes and Regulations in the UK

The UK is a crypto-friendly country that aims to be a hub for financial companies. The government announced that stablecoins would be recognized as a valid form of payment. Moreover, crypto exchanges looking to operate in the UK must register with the FCA (Financial Conduct Authority) or apply for an e-money license.

Crypto taxes in the UK are straightforward, as you pay a flat amount based on your gains. Also, you can keep up to GBP 12,300 tax-free by using the capital gain tax allowance scheme.

  • 10% on profits up to GBP 50,270

  • 20% on profits over GBP 50,270

  • Additional 20% tax on profits over GBP 150,000

Customer Service

Customer support is an essential feature exchanges should prioritize to keep clients satisfied. The most popular type of help exchanges provide are:

  • Email support

  • Phone helpline

  • 24/7 live chat

Cryptocurrency Exchange Tracking

Crypto investors usually use multiple exchanges since the coin variety, staking options, and other aspects differ. Therefore, it’s a good idea to use an app that tracks your portfolio across all platforms. CoinStats is a great option that you can integrate with a few leading wallet and exchange brands.

What Is the Best Way to Send Crypto Between Exchanges?

The best way to send cryptocurrency between exchanges is to convert your coins to a coin with low fees and fast transfer times. For example, if you want to transfer Bitcoin to another exchange, sell it for USDC. Then transfer the USDC to another exchange and buy Bitcoin again. This will result in fewer costs since USDC has lower transfer fees than Bitcoin.

Alternative Ways to Buy Cryptocurrencies in the UK

Here are some alternative platform types you can use to buy and trade cryptocurrencies.

Crypto Brokers

Cryptocurrency brokers are essentially the middlemen between you and the cryptocurrency market. They allow you to speculate the future value of cryptocurrencies without conveying ownership by issuing CFDs (contracts for differences). Like exchanges, brokers have trading software with indicators and trading tools. However, they lack a few key features like staking, crypto lending, and coin withdrawals.

Crypto Robots

Cryptocurrency robots are sophisticated software that trades on your behalf. Before using a robot, you’ll need to set up the parameters or use a preset given by the bot provider. The advantage of using a crypto robot is that it can trade 24/7 and place multiple orders simultaneously. Pionex is a leading robot brand with over a dozen different bots ready to use.

Crypto Apps

Many exchanges offer downloadable smartphone apps that let you trade, stake, and transfer cryptocurrencies easily. Alternatively, a few wallet apps are crypto-focused, letting you buy and make payments with cryptocurrencies. If you plan to trade on a smartphone, Gemini and Crypto.com are excellent options optimized to work on a smaller screen.

FAQs

What is the best cryptocurrency exchange in the UK?
Which is the safest crypto exchange?
What cryptocurrency exchange has the lowest fees?
Why are some crypto exchanges not available in the UK?

Dominikas Pupkevicius