British investors of all shapes and sizes now have access to a wide range of cryptocurrencies. This means from the comfort of your own home – you can buy and sell digital assets such as Bitcoin and DogeCoin with the click of a button. In this guide, we list and review the best digital currency exchanges in which British investors are currently accepted – in terms of security, fees, backed coins, and more. So, Which crypto exchanges are legal in UK?
Which crypto exchanges are legal in UK: The best crypto exchanges in the UK for 2022
The best cryptocurrencies in the UK – according to our in-depth research, below.
- eToro – Overall the best crypto exchange in the UK
- AQRU – a leading exchange with a crypto savings account
- Bitstamp – a long-term cryptocurrency exchange with low transaction fees
- Crypto.com – Top currency exchange with a user-friendly mobile application
- Coinbase – one of the best bitcoin exchanges for beginners
- Margex – The best exchange to buy crypto in the margins
- Huobi – a large cryptocurrency exchange for profit
- Bainance – The best crypto trading platform in the UK for low commissions
- Support – Trade over 115 digital currencies
- CEX – UK-based crypto exchange established in 2013
- Coinjar – A simple exchange to buy crypto in the UK
- Luno – A popular digital currency exchange app
Continue to find out which crypto exchanges in the UK are right for your needs.
Which crypto exchanges are legal in UK: Top bitcoin exchanges in the UK were surveyed
When researching cryptocurrencies that meet your personal needs – you need to consider which markets the provider supports, how much you charge for the transaction, and whether the platform is secure.
To find the best digital currency exchange in the UK for your investment purposes – consider the 9 platforms examined below.
1. eToro – Overall the UK’s best crypto exchange for 2022
Overall the best cryptocurrency exchange in the UK right now is eToro. Since eToro is licensed and regulated by the FCA, you can safely buy and sell digital currencies here. It also has regulatory licenses in other jurisdictions – including the United States and Australia. You can open an encrypted account with this exchange in less than five minutes.
By doing this, you can immediately deposit your funds with a UK cash/credit card or e-wallet or wait a few days for the bank transfer to be processed. Either way, after depositing, you can buy and sell more than 70 digital currencies. This means you can buy Bitcoin, Ethereum, Cardano, Phantom, and more with the click of a button.
You can also invest in popular Meem Coins because eToro has listed Dogecoin and buy Shiba Inu as well as Metavars coins. GBP deposit is also cheap – with eToro charging only 0.5%. We also like that eToro lets you buy any of your supported coins for as little as $ 10.
eToro is also one of the best cryptocurrencies in the UK for passive investment tools. For example, there is a smart collection with professional management that allows you to access a diverse portfolio of digital assets. On the other hand, if you want to actively trade digital currencies, you can consider the Copy Trading tool. As the name implies, it allows you to copy from an experienced trader with good experience in the field of digital currency.
What we like
- Fully tuned
- Low transaction fees
- No deposit or account fees
- Supports copy trading
- Offers a wide range of payment methods
2. AQRU – a leading exchange with a crypto savings account
Another one of the best crypto exchanges in the UK to consider is AQRU. AQRU is a subsidiary of Accru Finance Ltd, a London-based finance company that provides a way for investors to profit from their digital currency assets. The platform currently supports five different digital currencies, all of which can be purchased using the AQRU payment gateway.
Users can secure their AQRU account in BTC, ETH, USDT, USDC, or DAI and start earning profits on their assets immediately. AQRU offers up to 12% interest per annum on StableCoin deposits and 7% on BTC or ETH deposits – much more than what you receive in a traditional savings account. Notably, interest is paid daily and there is no lock period for fighting.
What we like
- You can purchase cryptography through MoonPay
- Up to 12% interest on encrypted deposits
- Supports five different digital currencies
- No locking period
- Free Fiat deposit
3. Bitstamp – a long-term cryptocurrency exchange with a low transaction fee
If you are looking to buy low-cost digital currency in the UK, BitStamp is also worth a look. Bitstamp is one of the longest-growing digital currency exchanges in the world, founded in 2011. The platform is well known for its safety and user experience and supports more than 50 different digital currencies for trading in the UK.
Bitstamp charges a fixed fee of 0.5% when you make a digital currency transaction, which drops to just 0.25% of your trading volume exceeding $ 10,000 (79 7975) per month. On the other hand, users can buy digital currency instantly using a credit or debit card, although it will cost 5% per transaction. In terms of security, Bitstamp keeps 98% of its customers offline and provides asset protection through BitGo Insurance.
If you want to back up your account to GBP, you can do so through FP. Doing so is free, though a small 2 2 fee will come with the withdrawal. When trading with Bitstamp, you can trade on either a web-based platform or a mobile app, all of which provide a user-friendly and secure experience. The program itself is extremely well designed and has biometric authentication and the ability to send and receive instant currency passwords.
What we like
- No minimum deposit
- Low transaction fees
- Long-term reputation
- Free deposit via faster payment (FP)
- In-app biometric authentication
4. Crypto.com – Top currency exchange with a user-friendly mobile application
One of the best crypto exchanges in the UK is Crypto.com. Crypto.com entered the scene last year and now has more than 10 million users worldwide. The platform is equally responsive for beginners and advanced traders and offers a web-based exchange and a mobile application. Crypto.com allows users to buy and sell digital currencies at a 0.4% maker/receiver fee – which can be reduced if you choose to spend on CROs.
Crypto.com is very well designed, with clear tabs at the bottom for all major sections. Users can track specific assets and even follow the CRO with 34.6% APY provided.
Through their Crypto Earn feature, you can make money on 50 digital currencies with up to 14.5% APY, including stable coins such as USDT and USDC with up to 10% APY.
Notably, Crypto.com allows users to purchase cryptography through the app using a credit or debit card – eliminating the need for deposits. This feature is free for the first 30 days, though it does charge 99 2.99.
Aside from the trading app, Crypto.com also offers a free encryption wallet app that is illegal and supports more than 100 different coins. The wallet app even allows users to send encryption to other Crypto.com wallets at different speeds, providing a way to save on network costs. Finally, Crypto.com even has a dedicated “university” section, complete with a collection of educational articles aimed at beginners.
What we like
- Only 0.4% of the manufacturer/receiver cost
- Buy a card without commission for the first 30 days
- Free encryption wallet app
- More than 150 currency codes for trading
- Dedicated training section
5. Uphold- Trade over 115 digital currencies
Uphold is a UK-based digital currency exchange and multi-asset brokerage platform that trades with more than 115 digital currencies. You will find everything from major cryptocurrencies such as Bitcoin and Ethereum to memecoin, DeFi coins, and Stable Coins. It is difficult to fail in this choice, especially if you want to trade growing cryptocurrencies that have not yet entered other exchanges.
Uphold does not charge fees for crypto transactions, but does receive variable spreads. Spreads vary depending on the digital currency and market conditions but are usually between 0.8% and 1.2% popular for cryptocurrencies. When you see the order preview and decide whether to trade or not, you can see the current spreads of each digital currency.
Uphold does several things differently from other digital currency exchanges. One is proud of its transparency. Users can check at any time how much cash Uphold has in stock to protect against market downturns and customer withdrawals. In addition, the platform is typically subject to third-party security audits to ensure that its system is secure against hacking.
Uphold also has more than one cryptocurrency available for trading. It offers a stock and commodity brokerage platform, so it is a good versatile option for traders who want to trade a wide range of assets.
What we like
- 115 digital currencies for trading
- Supports stock and commodity trading
- Preview spreads before each trade
- Transparent financial reserves
- Third-party security audits
6. Margex – The best exchange to buy crypto in the margins
Margex is a cryptocurrency exchange that allows you to trade bitcoins with up to 100 times leverage. Because Margex operates in the same way as other types of margin trading, it is not subject to a UK ban on digital currency derivatives.
When you open a margin trade with Margex, you can select your leverage and see the price level at which your trade is being traded. You can also see your maximum risk, allowing you to make smarter business decisions.
Margex offers an advanced cryptocurrency trading platform packed with tools for bitcoin tech trading. You will find dozens of technical indicators, adjustable charts and drawing tools, price alerts, limited orders and stop losses, and more. Margex also displays the Bitcoin order book and recent trades so you can stay one step ahead of the market.
What we like
- Very low manufacturer/receiver costs
- Trade up to 100 times with leverage
- Advanced technical trading platform
7. Huobi – Excellent cryptocurrency for profit
By the same token, if you are looking to make passive income, Huobi is one of the best cryptocurrencies in the UK. Through its cryptocurrency savings accounts, you will deposit the funds used to facilitate loans. In return, you will be paid an attractive interest rate. For example, many APY-supported tokens pay more than 100%.
That said, Huobi offers more than just a digital currency savings account. On the contrary, cryptocurrencies are home to hundreds of markets. It covers a wide range of digital assets – from large projects and ERC-20 tokens to DeFi coins. When it comes to commissions, Huobi charges you 0.20% at both ends of your transaction.
What we like
- Low transaction fees
- Support for credit/debit card purchases
- Free digital currency deposits
- The useful crypto wallet application
- A range of tradable assets
8. Coinbase – one of the best bitcoin exchanges for beginners
Beginners love Coinbase- not least because it has one of the best cryptocurrencies for beginners, you can also access Coinbase through a native mobile app compatible with iOS and Android. Both the web version and the Coinbase app version allow you to instantly purchase dozens of digital currencies with a cash or credit card.
Unlike eToro – which charges 0.5% of card payments, Coinbase has a standard transaction fee of 3.99%. You can also transfer funds from your UK bank account for free – and pay a standard 49 1.49 commission upon arrival. However, both options are more expensive than other cryptocurrencies in the UK.
However, some investors are happy to pay more to benefit from Coinbase’s advanced user-friendliness and security features. According to the latter, you will find that this British Bitcoin exchange keeps 98% of the customer’s funds in a cold wallet, and two-step authentication is required. When you sign in to your account from a new IP address – you must confirm this by email.
Additional features in Coinbase that are worth mentioning include a very comprehensive research center that offers many training guides. Kevin Bass also offers a fully digital currency wallet that you can download to your phone. Not only does the wallet give you complete control over private keys – but you can also exchange tokens directly without leaving the app.
What we like
- User-friendly interface
- Provides access to a wide range of cryptocurrencies
- Secure encryption wallet app
- No inactivity costs to worry about
- Responsive customer support
9. Binance – The best crypto trading platform in the UK for low commissions
Next on our list of the best cryptocurrencies in the UK is Binance. The platform is not suitable for all investors in the UK – as the FCA can no longer directly support GBP deposits and withdrawals via bank transfer since it began its exchange research. In addition, although you can still buy cryptocurrencies in the UK with a cash card, you have to go through a third party – which is expensive.
Bainance, on the other hand, is the most popular exchange in the world – it lags behind its competitors in terms of market, trading volume, and registered account users. The platform is now used by more than 100 million people worldwide. Once you have financed your Bainance account, you can trade more than 1000 pairs of digital assets with a commission of only 0.10%.
If you are an active trader or have some BNB tokens, Bainance will further reduce your trading commission. Bainance comes with many advanced trading tools and chart features – suitable for experienced investors who want to do technical analysis. You can also set custom orders – and even choose to receive price alerts through the Binance app.
Another key feature of this popular Bitcoin exchange is that it offers digital currency savings accounts. You just have to deposit some tokens and you will receive a profit in return. Finally, the key problem with Bainance is that many are questioning how long the platform can operate without a proper legal framework – especially in the UK.
What we like
- Competitive instant purchase costs
- Supports a wide range of digital assets
- A popular NFT marketplace offers digital currency sharing and other features
- Zero account management fee
- The account opening process is simple and fast
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Which crypto exchanges are legal in UK: How to choose the best crypto trading platform in the UK
Choosing the best crypto exchange in the UK for your needs can be troublesome. The main reason for this is that British people now have a lot of choices.
During the research process, you may want to consider the key factors listed below.
Regulation
Make no mistake about it – do not buy stock from a stockbroker who is not regulated by a financial institution such as the FCA. As such, you should also refrain from opening an account with an encryption exchange that does not have a regulatory license.
This is one of the many reasons we found eToro to be the best cryptocurrency exchange in the UK – as the platform is regulated not only by the FCA but also by institutions in Cyprus, Australia, and the SEC.
In addition, if you decide to invest in stocks or ETFs – your money is covered by the FSCS.
Tradable cryptocurrencies
While the UK’s best cryptocurrency trading platforms offer a huge array of digital currencies in this space, providers like Mode only support one token – Bitcoin. If you’re just looking to add BTC tokens to your digital currency portfolio, this is a good idea.
However, savvy investors in digital currencies never put all their eggs in one basket. After all, it makes them too exposed to just one digital asset. Instead, diversify into many different digital currencies.
For example, suppose you deposit 200 $ 200 into eToro. Since eToro supports more than 40 digital currencies and requires a minimum trading volume of only $ 10 – you can invest in 20 different currencies such as Bitcoin, Ethereum, DogeCoin, XRP, Shiba Inu, and many more.
Costs
This process can be complicated when trying to evaluate fees at a crypto exchange in the UK. This is because commissions can vary depending on the market you are trading in, the type of account you have opened, and the amount traded in the previous month.
That said, many exchanges offer a simple commission system that stays the same. For example, if you trade digital currencies on Queen Base, you will pay a standard fee of 1.49% per slide. In eToro, you only pay spreads – which start at 0.75%.
After that, though, you have cryptocurrencies like Binance and Huobi, which use the same build system. In addition, commissions are reduced when trading milestones are identified – so again, this can be confusing.
Customer services
We hope you do not need the services of a customer support representative when trading in digital currency exchange. However, there may come a time when you need help with your account.
The best cryptocurrencies we reviewed today offer a live chat feature – meaning you can talk to a human agent almost instantly. This includes eToro and Mode.
However, we also came across exchanges that offer only one ticket support system – meaning you may have to wait up to 48 hours before receiving a response.
Mobile application
More and more investors in the UK are opting to trade digital currencies through a mobile app – rather than a laptop or computer. This gives you more flexibility, as you can trade on the go – as well as check the value of your investment with the click of a button. For example, if the market price of Ripple suddenly drops and you decide to buy XRP to make the most of the downtrend, you can do so effectively through a dedicated mobile digital currency app.
However, not all cryptocurrency trading programs we encounter today provide a good user experience. On the contrary, it was often difficult to navigate through the program. That way, if you’re looking for an encryption exchange program – make sure it’s user-friendly.
Which crypto exchanges are legal in UK: Result
By reading this in-depth guide from start to finish – you now know how to choose the best digital currency exchange for your business purposes. To summarize, the key criteria to focus on include regulations, fees, payments, user-friendliness, and more. Finally, we find that eToro is by far the best cryptocurrency exchange in the UK.
The eToro platform is regulated by the FCA, and you only need $ 10 to start your first cryptographic purchase. In addition, you can open an account in less than five minutes and instant cash card payments are supported.
