Cryptocurrency exchange

6 Best UK Crypto Exchanges 2023 List

best cryptocurrency exchanges

A cryptocurrency exchange is like an online brokerage for cryptocurrencies, tokens (virtual assets created through existing blockchains), and other digital assets. Many of these exchanges offer investment options for active traders looking to buy, sell, or hold digital assets like bitcoin, ether, and litecoin. Originally founded as InstaBT in 2013, the company’s mission is to provide convenient, dependable and secure access to bitcoin and other digital currencies. Customer service, ease of use, and quick turnaround times for deposits and withdrawals are pillars of this platform. They cater to beginners as well as experienced traders, and are one of Canada’s quickest growing buy/sell platforms. A great choice for users looking to buy and hold crypto, or users looking for a reliable on-ramp to turn their fiat into crypto quickly and easily.

If you are a novice or experienced trader, you will find many tools and features to help you maximize your returns. To get started with Binance, you need to register using phone number or email and then follow the steps. Binance is one of the few exchanges that offer mobile apps for iOS and Android, and also an app for Mac. It has a 0.1% standard trading fee that is already relatively less than its peers.

Methodology: How to Choose the Best Crypto Exchange in the UK?

The UK regulator, the Financial Conduct Authority, has repeatedly warned investors that they risk losing all their money if they buy cryptocurrency, with no possibility of compensation. Exchanges have different requirements, often depending on the type of cryptocurrency an investor may want to buy. Some may allow an investor to buy fractional shares of coins for pennies or just a few pounds. Be sure to check the chosen crypto exchange’s requirements for the desired coin. An investor might be perfectly OK using a crypto exchange with only one coin if it’s the only coin they want. Once you are done with the identification process, the next step involves the funding of your eToro account.

best cryptocurrency exchanges

Please keep in mind, though, that these financial instruments are risky to trade, and they aren’t designed for less-experienced traders. And that’s more or less how to get set up with cryptocurrency exchanges! Still, there’s obviously a lot more you can expect with one of these platforms than we’ve currently mentioned, so let’s take a look at some of the main features you can expect with crypto exchanges in the UK. Now, while the crypto market has certainly seen exponential growth within the last few years, there are actually relatively few crypto trading platforms that are based specifically in the UK. So, in general, your best bet is to find a cryptocurrency exchange that’s compliant with UK laws but perhaps based primarily overseas. What’s even more impressive is the fact that in its decade of operation, the exchange has maintained a great track record on security, as the exchange’s wallets have never been compromised.

What is spot trading in crypto?

In this case, you might want to avoid exchanges that have suffered security breaches in the past. If you’re a long-term crypto investor, it’s worth considering withdrawing your crypto to a wallet that’s fully under your control, preferably a hardware wallet. The main downside of GMX is that it only offers a limited number of cryptocurrencies for trading. However, best cryptocurrency exchanges it does offer a very smooth user experience which is a rarity when it comes to decentralized platforms for trading derivatives. If you want to buy or sell cryptocurrency, you’ll need to use a cryptocurrency exchange. However, there are hundreds of different exchanges competing for customers, and it can be difficult to choose the best one for you.

Opinions are our own, but compensation and in-depth research may determine where and how companies appear. You can check the platform’s proof of reserves data at Coinmarketcap or Defillama. Check the exchange’s reputation online by looking at reviews from other users and checking forums like Reddit.

What is a crypto exchange?

We selected the best crypto exchanges based on various criteria, including trading fees, track record, security, the number of cryptocurrencies offered for trading, and variety of trading products. Built with advanced traders in mind, Gemini provides a professional-grade trading dashboard and supports over 80 digital currencies and tokens. Gemini also offers a cryptocurrency reward card and allows users to pay for goods and services with crypto. Some crypto exchanges support advanced trading features like margin accounts and futures trading, although these are less commonly available to U.S.-based users. Others have features like crypto staking or crypto loans that allow you to earn interest on your crypto holdings.

  • How much tax you owe on your crypto depends on how much you spend or exchange, your income level and tax bracket, and how long you have held the crypto you used.
  • While BitMart has promised to reimburse users, the hack has made a substantial dent in the exchange’s reputation.
  • The platform was launched in 2007 and has since grown to become one of the world’s leading social trading networks, with over 30 million registered users in more than 140 countries.
  • You can use your own crypto wallet in many cases to store, trade and carry out transactions using cryptocurrency.
  • Consult cryptocurrency exchange reviews to gain insights into whether or not an exchange has been hacked in the past or has ever been unreliable.
  • Buying cryptocurrency doesn’t grant investors ownership over anything except the token itself; it’s more like exchanging one form of currency for another.
  • While blockchain technology is being embraced by corporations around the world (see Forbes Blockchain 50) there has likewise been a boom in outfits that allow investors to buy, sell and store cryptocurrencies.

He has been covering technology, software, finance, sports and video games since working for @Home Network and Excite in the 1990s. Peter managed reviews and listings for during the 2000s, and is passionate about software and no-nonsense advice for creators, consumers and investors. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Security Tips

It’s also our top choice for experienced traders, as it offers advanced order types and supports margin and futures trading. We performed an in-depth assessment of the features and options offered by nearly 25 cryptocurrency exchanges, crypto trading apps and brokerage platforms that offer crypto trading options. The user-friendly digital app marries its e-money account services with its cryptocurrency features to create a seamless user experience. Customers can buy, hold and exchange 90+ cryptocurrencies in-app within seconds.

Remember trade types involving the latter are still evolving, so different exchanges’ offerings may vary over time. We performed an in-depth assessment of the features and options offered by FCA-regulated cryptocurrency exchanges. Coinbase offers more than 150 tradable cryptocurrencies, which may satisfy some investors looking to break into the crypto space.