10 Best Crypto Exchanges in the UK in 2022.
To exchange Bitcoin in the UK, buy bitcoin you need an exchange. Now, we’re not trying to insult your intelligence by phrasing it like that. The reality is, you need an exchange to buy Bitcoin. Naturally, with the industry buzzing, there are plenty of choices out there for the average consumer.
Of course, having too much choice can be as much of a curse if you don’t know what you’re looking for. Fortunately, we’re here to help. Using our team of experts, we’ve reviewed all the best crypto exchanges in the UK and we’re about to tell you exactly where to find them and why they’re hot prospects.
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
Best Bitcoin & Crypto Exchanges in the UK.
Using our decades’ worth of combined experience, we’ve combed the UK Bitcoin community and picked out the sites that stand out as impressive. By weighing up everything from the exchange’s interface and payment options to the speed of delivery and reliability, we believe we’ve come up with the definitive top five best UK crypto exchanges. So, without further ado, here are the top crypto conversion picks for all you British BTC and crypto enthusiasts out there.
When it comes to exchanges in the UK, the leading platform is not exactly an exchange. Now, we’re not going to get into semantics here, but when you visit eToro you’ll notice it’s a trading platform instead of a pure cryptocurrency exchange. This site allows you to take some GBP and invest it in Bitcoin. The main benefit of trading BTC as a commodity is that you’re not actually purchasing the underlying product. In simple terms, this means you’re speculating on the price movements of Bitcoin rather than buying any coins. Thanks to this dynamic, you can execute trades a lot quicker. When you use traditional Bitcoin
exchanges, there can be a delay between making a deposit, receiving some credits and then being able to use them. At eToro, bitcoin you can deposit using slick payment options such as PayPal and being trading on the price of Bitcoin within a minute or so. This is why our eToro review ranks this site as a fantastic option for those that want a smooth transition into the world of BTC.
Advantages of eToro.
Faster transactions Plenty of payment options, including PayPal Regulated in the UK by the Financial Conduct Authority and by CySEC.
Disadvantages of eToro.
The minimum deposit is $50 A flat withdrawal fee of $25.
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, btc or trading digital assets is suitable for you in light of your financial condition.
As you’ll read in our Coinbase review, this is the largest Bitcoin exchange in the world, which obviously makes it a top pick in any country. However, in the UK, the US company has a stronger position than most thanks to a deal with Barclays. After negotiating with the leading UK bank, Coinbase was given permission to open a business account. This relationship came a few months after the crypto exchange was granted an e-money license by the UK’s financial watchdog.
These seals of approval not only mean that the Coinbase platform is highly regulated in the UK, but payments to and from Barclays are now a lot easier. When these benefits are combined with deposits starting at just £1, insured payments and a secure platform, it’s easy to see why Coinbase is one of the top exchanges in the UK.
Advantages of Coinbase.
Plenty of deposit options Low deposit limits Fast transactions Highly secure and regulated Buy with Pound Sterling.
Disadvantages of Coinbase.
Not many altcoin options Transaction fees can be high (up to 4.5%)
As we’ve explained in our CEX review, this site has been since 2013. Initially formed as a holding entity for GHash.io, this UK-based exchange is now a place for those that enjoy margin trading (i.e. the difference in value between two currencies over a set period of time). When you join this site, you can speculate on a variety of currency pairs, including BTC/EUR, BTC
For us, the main reason CEX is one of the standout exchanges in the UK is its interface. Unlike many of the leading platforms, CEX is set up for beginners. This means you can register with CEX, login, scroll through the list of options and make payments within minutes, regardless of how experienced you are.
Advantages of CEX.
Novice-friendly interface Trade BTC currency pairs Sign up using social media accounts.
Disadvantages of CEX.
Fees can be high Customer service is poor.
Like Coinbase, Binance has become one of the largest crypto exchanges in recent months. Based in China but serving the UK, the Binance platform was actually financed by an ICO. With its roots firmly planted in the crypto arena, Binance is known is one of "the" true exchanges out there. For casual traders, the interface is bright and breezy, which means making moves is simple and enjoyable.
For those at the other end of the spectrum, it’s worth noting that Binance allows verified users to withdraw up to 100 BTC per day. For high volume traders, withdrawing large amounts of coins has always been tricky. Binance has moved to address this issue by setting the bar higher than most. Based on these facts, our Binance review rates as one of the best Bitcoin exchanges in the UK for experienced users.
Advantages of Binance.
Great payment limits for experienced traders Colourful and easy-to-use interface Dozens of altcoin options.
Disadvantages of Binance.
No fiat deposit options Logs some personal data such as IP address.
The final UK Bitcoin exchange we like is one that allows you to physically connect with fellow traders in your area. If you join LocalBitcoins, you can make deposits using your credit/debit card and bank transfer from as little as £1. Once you’ve done that, you can scroll through a list of vendors in your region, you can exchange details and complete a trade online or in person.
The great thing about this site is that you can get to know the person you’re trading with. This instantly makes you feel more secure. Additionally, as you’ll see from our LocalBitcoins review, you can often find better rates. Because LocalBitcoins.com is essentially a marketplace for buyers and sellers, everyone is competing to offer the best prices. Therefore, if you can take your time and scroll through the options, you can typically find a strong exchange rate on this platform.
Advantages of LocalBitcoins.com.
Trade with real people Can find solid exchange rates Pay online or in-person.
Disadvantages of LocalBitcoins.com.
Trading with individuals has certain risks A Bitcoin-only exchange.
Bitcoin Exchange Regulations in the UK.
The UK has become one of the more progressive countries when it comes to crypto and Bitcoin
regulation. As you’ll have noted from our in-depth eToro review, trading platforms offering BTC options are regulated by the Financial Conduct Authority (FCA) in the UK. This is the same body that regulates banks, credit card providers, loan companies and more.
At the start of 2018, the FCA announced that it was working with the Bank of England and the Treasury to formulate new guidelines on exchanges. Although the organisation won’t have any direct power on cryptocurrencies, it wants exchanges in the UK to operate under certain standards.