Want to jump straight to the answer? The best UK cryptocurrency exchange platforms are Coinbase and Crypto.com.
Finding the best cryptocurrency exchange in the UK largely depends on your needs and the type of digital asset you plan to trade. Supports almost every UK exchange Most Popular CryptocurrencyOr Bitcoin (BTC or XBT), though other types Less popular cryptocurrencies may not be supported.
There are many cryptocurrency exchanges in the UK, so choose one Fits your needs. If you have no experience with cryptocurrencies (even if you have previous experience trading forex, stocks or futures), it is recommended that you learn How to trade cryptocurrency Before you open an account with the exchange.
You can learn to trade cryptocurrency Open a free demo account With an online broker like XTB. Regardless of your trading results in a demo account, remember that they may vary greatly when using a live funded account on a crypto exchange or online broker.
Your success as a trader usually depends on your trading skills, including how you handle the volatility inherent in digital assets. Find out how to get started with our review of the best cryptocurrency exchanges in the UK
Overview: UK Cryptocurrency Exchange
If you are planning to exchange one alternative digital currency for another, opening an account with a cryptocurrency exchange may make sense. These exchanges allow you to buy and sell coins for other digital currencies or for exchange National currencies such as the British pound, the US dollar or the euro.
Most of these exchanges require identity verification in order to open an account. If you want to make an occasional altcoin transaction, you can use the Bitcoin ATM requires you to have crypto wallet Or you can create 1. In addition to exchanges, peer-to-peer trading platforms can also be used to exchange altcoins.
This is a habit Match buyers and sellers in a similar place And take a fee from the top of each transaction. Other exchanges consist of platforms that offer direct person-to-person trading between people in different countries. Peer-to-peer trading platforms generally do not set a fixed price on transactions, but instead allow each seller or buyer to set their own exchange rate.
Another exchange option consists of cryptocurrency brokers that you can actually visit to buy or sell cryptocurrencies at the prices set by the broker, just as local cryptocurrency would do with foreign currencies.
What makes a great cryptocurrency exchange?
Before placing your first order, do some research on the different exchanges. The items listed below can help you find the best.
Reputation is one of the most important factors to consider when choosing an exchange. To research the reputation of a cryptocurrency exchange, Visit trusted industry websites and read reviews.
You can also go to cryptocurrency forums like Bitcointalk Find out what other traders have experienced. Has the stock exchange been hacked in the past? If so, what action or inaction has been taken on behalf of customers who may have been hacked?
Furthermore, an exchange that does not secure or segregate client funds may expose your funds to theft. If you choose to leave your coins or other digital assets on the exchange, Make sure the splitter has a reliable “cold storage” facility To reduce the possibility of hacking.
Fees and Payment Methods
To avoid unpleasant surprises after you start making transactions, be aware of all the fees that the exchange charges. Fees can vary greatly Depending on the type of exchange you are using.
Does the exchange allow you to fund purchases with a credit or debit card? Can you PayPal them money or will you have to pay for a bank transfer instead? Some exchanges do not accept national currencies and only accept other cryptocurrencies to fund the account. An exchange with limited payment options can make cryptocurrency purchases quite inconvenient.
In general, exchanges that accept credit cards require identity verification and charge higher fees due to the higher risk of fraud or theft. They may also charge higher processing and transaction fees. In addition, purchases made through bank wire transfers can take much longer to process.
Almost all UK exchanges require some form of identity verification In order to make deposits and withdrawals. However, some exchanges allow you to remain anonymous, so check with the exchange if anonymity matters to you.
Exchange ID can be checked It often takes several days, but it helps get rid of money launderers, scammers, and other scammers.
Different exchanges can offer varying exchange rates for cryptocurrencies quoted in national currencies, as well as wider or narrower bid spreads. Before opening an account, Inquire about the margins of future transactions in the stock exchange.
Exchange rates are also known to fluctuate widely in the fast markets, with the actual fluctuation being noticeable depending on the currency and cryptocurrency involved. Below, we have compiled 4 of the most popular stock exchanges located in the UK
Best Cryptocurrency Trading Platforms UK
Take a look at the list below and start buying, selling or trading cryptocurrencies today.
Coinbase is one of the largest online cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it incredibly easy to buy and sell major cryptocurrency pairs.
You can even earn cryptocurrency rewards with Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and improved functionality.
Although Coinbase does not offer the most affordable rates or the lowest fees, its simple platform is easy enough for complete beginners to master in just one transaction.
2. BC Bitcoin
BC Bitcoin is one of the most trusted cryptocurrency exchanges in the UK A professional cryptocurrency brokerage firm in the UK. The company offers a wide range of coins and tokens and buys and sells all major cryptocurrencies including Bitcoin, Bitcoin Cash, Ripple, Ethereum and Litecoin.
The company offers clients a professional and customized execution service targeting specific prices with stop-loss and limit orders. Also, since the exchange’s base is in the UK, transfers to your UK bank account are instant.
BC Bitcoin offers another service consisting of mining packages Since BC Bitcoin has run a mining pool on the Bitcoin blockchain. The company helps its customers who pay for mining packages by providing cryptocurrency to upgrade memberships and account packages. Mining pool packages range from $500 to $5000, and Membership in the Bitclub network is $99 each.
BC Bitcoin facilitates these packages on behalf of the Bitclub network and has no other affiliation with them.
Crypto.com is a full-featured cryptocurrency exchange that offers its users many services other than the ability to only buy and sell cryptocurrencies. The trading platform also allows you to earn interest on your digital assets with interest rates of up to 10% on stablecoins like USDC. By placing Crypto.com’s original CRO token on the platform, you can earn interest rates of up to 14%.
The trading platform also has a debit card that earns crypto-back on all purchases made with the card. Since the debit card works with VISA, you can use the card anywhere VISA is accepted. This is a great option for those looking to increase their cryptocurrency portfolio without spending any extra money.
ALSO READ: BEST CRYPTO ACCOUNTS FOR BUSINESS
Serious Crypto Investors
bit2me joins your bank and your crypto investments in one place. Yes, you can invest in cryptocurrency at bit2me, but you can also manage your bank account just like you normally would. The site shares current crypto values, helps you register in just a few moments and supports several payment methods – SEPA, tikebit, MasterCard and Visa. Download the bit2me app if you want to take it with you. It also helps in taking advantage of all the options offered by the company.
If you wish, you can buy many different cryptocurrencies using the funds in your account. You can review your portfolio for both cryptocurrencies and fiat currencies. bit2me also allows you to:
- Cryptocurrency trading
- Cryptocurrency exchange
- Use the MasterCard Crypto debit card linked to your account
- Accept cryptocurrency as an employer
- Learn where to use cryptocurrency
- Own digital assets
With the support of 60 cryptocurrencies, bit2me is useful if you want to diversify your portfolio or fold your bank account into your crypto investments.
5. Kwik Bitcoin
This UK-based exchange prides itself on the speed of its transactions which enables people to buy cryptocurrencies quickly and easily within the UK. With standard UK bank transfers, the average time to make a transaction is Less than 10 minutes.
With many cryptocurrency exchanges, simply opening an account and verifying your identity can take up to a week before you receive your cryptocurrency. Although Quickbitcoin may take a short time to verify your order, the process usually only takes a few working hours Verification often takes place on the same day. The process of buying cryptocurrency couldn’t be simpler:
- First, select the amount of coins you want to buy.
- Next, fill out the application form and submit it.
- Next, make a bank transfer to Quickbitcoins that will provide you with the bank details.
- The purchased cryptocurrency is then delivered to the public key of your wallet.
Trade cryptocurrency now
Finding a great cryptocurrency exchange in the UK is much easier than you might imagine. There are a number of exchanges available locally, as well as on international and semi-international exchanges, so it is just a matter of identifying your needs and finding an exchange that fits those needs.
Take into account exchange reputation, transaction fees, other costs, exchange rates, spreads, and customer service. Don’t forget to think about the time required to open an account, as well as the time it takes to receive the cryptocurrencies you buy. Get started with one of our best cryptocurrency platforms now.
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Benzinga has developed a specific methodology for classifying cryptocurrency exchange instruments. We prioritize platforms based on offers, pricing, promotions, customer service, mobile applications, user experience, benefits and security. For a comprehensive analysis of our methodology, please visit our cryptocurrency methodology page.