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Finding the best cryptocurrency exchange in the U.K. depends largely on your needs and the type of digital assets you plan to trade. Just about every U.K. exchange supports the most popular cryptocurrency, Bitcoin (BTC or XBT), although other lesser-known cryptocurrencies may not be supported.
Several great crypto exchanges are based in the U.K., so pick the 1 that best suits your needs. If you have no experience with cryptocurrencies (even if you have prior experience with forex, stocks or futures), you would be well-advised to learn how to trade cryptocurrency before you open an account with an exchange.
You can learn cryptocurrency trading involves opening a free demo account with an online broker like XTB. Regardless of your trading results in a demo account, remember that they could differ significantly when using a live funded account at a crypto exchange or online broker.
Your success as a trader typically depends on your trading skills, including how you deal with the inherent volatility of digital assets. Learn how you get get started with our review of the best cryptocurrency exchanges in the U.K.
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Overview: Cryptocurrency Exchanges in the U.K.
If you plan to exchange one altcoin for another, opening an account at a cryptocurrency exchange might make sense. These exchanges allow you to purchase and sell coins for other digital currencies or for national currencies like GBP, USD or EUR.
Most of these exchanges require identification verification in order to open an account. If you want to make an occasional altcoin transaction, you can use a bitcoin ATM that requires you to have a crypto wallet or you can create 1. In addition to exchanges, peer-to-peer trading platforms can also be used to exchange altcoins.
These usually match buyers and sellers in a similar location and take a fee off 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 place a fixed price on transactions, but instead allow each seller or buyer to set their own rate of exchange.
Another exchange option consists of cryptocurrency brokers you can physically visit to buy or sell cryptocurrencies at prices set by the broker, much like local cambios do with foreign currencies.
What Makes a Great Cryptocurrency Exchange?
Before placing your 1st order, do a little research on the different exchanges. The elements listed below can help you find the best.
Reputation is 1 of the most important factors to consider when choosing an exchange. To research a cryptocurrency exchange’s reputation, visit trusted industry websites and read reviews.
You can also go to cryptocurrency forums such as Bitcointalk and find out what other traders have experienced. Has the exchange been hacked in the past? If so, what action or inaction has been taken on behalf of clients who may have been hacked?
Furthermore, an exchange that does not insure or segregate client funds could subject your money to theft. If you choose to leave your coins or other digital assets in an exchange, make sure that the exchange has a reliable “cold storage” facility to reduce the likelihood of hacking.
Fees and Payment Methods
To avoid unpleasant surprises after you’ve started to make transactions, be aware of all the fees the exchange charges. Fees can vary considerably depending on what exchange you use.
Does the exchange let you fund purchases with a credit or debit card? Can you PayPal them the money or would you have to pay for a bank wire transfer instead? Some exchanges do not accept national currencies and only accept other cryptocurrencies to fund an account. An exchange with limited payment options could make cryptocurrency purchases quite inconvenient.
Generally, 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 wire transfers can take considerably longer to process.
Almost all U.K. exchanges require some form of ID verification in order to make deposits and withdrawals. Nevertheless, some exchanges do allow you to remain anonymous, so check with the exchange if anonymity matters to you.
Exchange ID verification can often take up to several days, but it helps weed out money launderers, fraudsters and other scammers.
Different exchanges can offer varying rates of exchange for cryptocurrencies quoted in national currencies, as well as wider or narrower bid offer spreads. Before you open an account, inquire about the prospective exchange’s dealing spreads.
Exchange rates have also been known to fluctuate widely in fast markets, with the actual volatility observed depending on the currency and cryptocurrency involved. Below, we’ve rounded up 4 of the most popular exchanges based in the U.K.
Best Crypto Exchange Platforms in the UK
Take a look at the list below and get started buying, selling or trading cryptocurrency today.
The crypto industry is booming and CoinSmart is on a mission to make cryptocurrencies like Bitcoin, Ethereum, and altcoins like Doge and Solana accessible to everyone. With a crypto trading platform designed to break down the barriers of complex and confusing crypto transactions, CoinSmart offers simplicity, learning tools for all levels, as well as 24/7 omni-channel support.
CoinSmart is a regulated, Canadian-headquartered crypto asset trading platform registered with the Ontario Securities Commission and securities regulators across Canada, allowing Canadians to buy and sell crypto in as little as five minutes. CoinSmart is also one of the first Canadian-run trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
The crypto industry is booming, and CoinSmart is on a mission to make cryptocurrency such as Bitcoin, Ethereum, as well as alt coins like Doge and Solana, accessible to everyone. With a crypto trading platform designed to break down the barriers of complex and confusing crypto transactions, CoinSmart offers simplicity, learning tools for all levels, as well as 24/7 omni-channel support. CoinSmart is a regulated, Canadian-headquartered crypto asset trading platform registered with the Ontario Securities Commission and securities regulators across Canada, allowing Canadians to buy and sell crypto in as little as five minutes. CoinSmart is also one of the first Canadian-run trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
- Beginner and advanced cryptocurrency investors
- Investors using an unsecured platform seeking a regulated and secure trading platform
- Mainly investors in Canada, the U.K., Germany, Spain, France and The Netherlands
- Makes crypto less cryptic
- Simple, safe, secure and regulated
- One of only two Canadian crypto trading platforms to receive marketplace registration, allowing Canadians to buy and sell crypto directly on a regulated platform
- Available to more than 40 countries
- Their deposit/withdrawal/trading fees are slightly high, but they make it up with their overall service and support.
- Not available in the US
2. BC Bitcoin
Considered 1 of the most trusted cryptocurrency exchanges in the U.K., BC Bitcoin is a professional bespoke U.K. cryptocurrency brokerage firm. 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 that targets specific prices with stop-losses and limit orders. Also, since the exchange’s base is in the U.K., transfers to your British bank account are immediate.
BC Bitcoin offers another service, which consists of mining packages since BC Bitcoin operates a mining pool on the Bitcoin blockchain. The company assists its customers that pay for mining packages by supplying cryptocurrencies to upgrade memberships and account packages. Mining pool packages range from $500 to $5,000, and memberships to the Bitclub network are priced at $99 each.
BC Bitcoin facilitates these packages on behalf of the Bitclub network and has no other affiliation with it.
Crypto.com is a full-featured cryptocurrency exchange that offers its users several services other than just the ability to buy and sell cryptocurrencies. The trading platform also lets you earn interest on your digital assets with interest rates as high as 10% on stablecoins like USDC. And, by staking Crypto.com’s native token, CRO, on the platform, you can earn interest rates as high as 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 needing to spend any extra money.
Crypto.com strives to make cryptocurrency a part of everyday life by offering a full suite of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi swap, DeFi Wallet, DeFi Earn, Crypto.com Price, staking, crypto lending, and many other services. What really sets them apart, however, is the combination of super low fees and incredibly generous rewards programs for their users.
- Traders who want access to a secure, low-cost cryptocurrency exchange
- Passive investors who want to earn interest on their balance without frequent trading
- Mobile investors who prefer to handle all their crypto needs via their phone or tablet
- Low fees
- High security
- One-stop shop for all your crypto needs (wallet, trading, spending, and more)
- Lots of ways to earn interest, rewards, and rebates
- Low privacy
- Customer service response time could be improved
Read also: BEST BUSINESS CRYPTO ACCOUNTS
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 mere moments and supports several payment methods — SEPA, tikebit, MasterCard and Visa. Download the bit2me app if you need to take it with you. It also helps to avail yourself of all the options the firm provides.
If you like, you can purchase several different cryptocurrencies using funds in your account. You can review your wallet for both crypto and traditional currencies. bit2me also allows you to:
- Trade cryptocurrencies
- Swap cryptocurrencies
- Use a MasterCard Crypto Debit Card associated with your account
- Accept cryptocurrency as a business owner
- Learn where to use cryptocurrencies
- Take possession of digital assets
Supporting 60 cryptocurrencies, bit2me is useful if you want to diversify your portfolio or fold your bank account into your crypto investments.
This U.K.-based exchange prides itself on the speed of their transactions that enable people to quickly and easily purchase cryptocurrency within the U.K.. By using standard U.K. bank transfers, the average time for a transaction to take place is under 10 minutes.
With many crypto exchanges, just opening an account and verifying your identification can take as long as a week before you receive your cryptocurrency. While Quickbitcoin may take a short time to verify your application, the process usually only takes a few business hours and verification often occurs on the same day. The process for making cryptocurrency purchases could not be simpler:
- First, select the amount of coins you wish to purchase.
- Then, fill out an order form and submit it.
- Next, make a bank transfer to Quickbitcoins that provides you with bank details.
- Your purchased cryptocurrency then gets delivered to your wallet’s public key.
Trade Cryptocurrency Now
Finding a great cryptocurrency exchange in the U.K. is far easier than you might imagine. There are a number of exchanges available locally, as well as on the international and semi-international exchanges, so it’s only a matter of determining your needs and finding an exchange that best fits those needs.
Take into account exchange reputation, transaction fees, other costs, exchange rates, dealer spreads and customer service. Don’t forget to consider the time needed to open an account, as well as how long it takes for you to receive the cryptocurrencies you purchase. Get started with 1 of our top cryptocurrency platforms now.