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Claire Maumo has experience in investment banking, strategic consultancy, and journalism. She has a Bachelor’s degree in Business Management and a Master’s in finance. She has a knack for making complex concepts easy to understand. Her primary focus is on crypto, blockchain, and financial instruments. Follow her for expert insights on trading and investment.
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There are many crypto exchanges in the UK today, and it comes as no surprise that you may wonder what the best picks are. The best exchange must be highly secured and support you with the best resources for an exciting experience. Plus, it must guarantee the self-custody of your tokens, especially if it is integrated with a digital wallet.
As researchers and crypto traders, we are here to help you find the best crypto exchanges in the UK 2024. We list the top options below and share some tips and information to note before using an exchange.
List of the Best Crypto Exchanges
- Coinbase – Overall Best Crypto Exchange in the UK
- Kraken – Top Exchange for Professional UK Crypto Traders
- Crypto.com – Top Multi-Asset Crypto Exchange in the UK
- Exodus – Beginner-Friendly Cryptocurrency Exchange in the UK
- CEX – Best Exchange With Fiat Currency Support
In This Guide
UK Crypto Exchanges: Comparison Table
As a UK crypto trader or investor, sifting through hundreds of exchanges to find the best fit can be daunting. The good news is that we did all the legwork for you, but understand that the procedures involved were lengthy. Hundreds of hours were put into this research to ensure we only got the best of the best.
We conducted multiple tests and comparisons on hundreds of crypto exchanges in the UK. We shortlisted a few based on security, costs, asset offerings, performance, and other factors. And to remain unbiased, we incorporated user testimonials findings from Google Play, the App Store, and Trustpilot.
Explore our table below, which shows the features of our best crypto exchanges in the UK. Feel free to compare these elements to make a suitable choice.
| Best Crypto Exchange UK | Exchange Type | Support Service | Price | Supported Coins | Digital Wallet |
|---|---|---|---|---|---|
| Coinbase | Centralised | 24/7 | Free | 200+ | Yes |
| Kraken | Centralised | 24/7 | Free | 200+ | Yes |
| Crypto.com | Centralised | 24/7 | Free | 350+ | Yes |
| Exodus | Decentralised | 24/7 | Free | 300+ | Yes |
| CEX.IO | Decentralised | 24/7 | Free | 100+ | Yes |
Exchanges Short Overview
Cryptocurrency exchanges in the UK have varying features that suit all types of traders and investors. Choosing an ideal one guarantees an exciting experience, which in return will increase your chances of earning profits. For most individuals, prioritising the costs and asset offerings is crucial for proper planning. That is why we share tables below showing the overviews of the fee structures and assets offered at our top UK crypto exchanges.
Fees
| Best Crypto Exchange UK | Fees | Minimum Deposit Requirement |
|---|---|---|
| Coinbase | From 0.05% /0.60% maker/taker fees | None |
| Kraken | From 0.0% /0.1% maker/taker fees | £1 |
| Crypto.com | From 0.0%/ 0.1% maker/taker fees | None |
| Exodus | No fees | None |
| CEX.IO | From 0.0%/ 0.1% maker/taker fees | £20 |
Assets
| Best Crypto Exchange UK | Bitcoin | Ethereum | Litecoin | Ripple | Tether | Solana |
|---|---|---|---|---|---|---|
| Coinbase | Yes | Yes | Yes | Yes | Yes | Yes |
| Kraken | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto.com | Yes | Yes | Yes | Yes | Yes | Yes |
| Exodus | Yes | Yes | Yes | Yes | Yes | Yes |
| CEX.IO | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about Crypto Exchanges UK
As mentioned above, we test and compare hundreds of crypto exchanges in the UK before identifying the best and recommending them to our readers. Below are our expert opinions or mini-reviews about our best crypto exchanges in the UK. We hope you will get proper insights into their offerings and make a suitable choice aligning with your trading requirements.
1. Coinbase – Overall Best Crypto Exchange in the UK
We tested and compared hundreds of crypto exchanges in the UK and identified Coinbase as our overall best for various reasons. For instance, we like that it supports hundreds of tokens and dApps. Not only will you be able to manage cryptocurrencies but also NFTs under a single platform. Moreover, Coinbase has its own built-in digital wallet, making it easier to secure your tokens once purchased. This exchange is user-friendly and supports GBP transactions. It is perfect for both new and professional cryptocurrency traders and investors.
Another important element about Coinbase to note is its security measures. The exchange is highly encrypted and regulated by the Financial Conduct Authority (FCA). Plus, it is trusted by millions of global investors and has numerous positive testimonials from previous and currency users. On top of that, Coinbase is customisable, supports users with quality trading tools, and hosts a variety of order types for efficient trade management.
Coinbase
✔Available in over 100 countries
✔Authorized, licensed and regulated
Pros & Cons
Fees
Trading Assets
Pros
- Lists over 200 digital tokens to buy, sell, store, and trade
- Has a Coinbase Advanced platform with powerful resources for professional investors
- A user-friendly exchange with fast trade execution speed
- Compatible with desktop and mobile devices
Cons
- High transaction fees compared to its peers
- Its inbuilt wallet is custodial and does not give you control over your private keys
Coinbase doesn’t have a fixed minimum deposit requirement, which should be terrific news to people working with a limited budget. Moreover, the exchange covers transaction charges on behalf of its clients, so you don’t have to worry about additional costs while topping up your Coinbase account. To make everything better, the company allows its users to send crypto to other Coinbase users free of charge.
That said, our experts discovered numerous fees and charges while researching and evaluating Coinbase. For starters, the company charges a 0.1%C Lighting Network fee as well as variable exchange fees that depend on numerous factors, including market conditions, order size, and the involved payment method. Coinbase users who require asset recovery services are also subject to network and recovery fees.
Let’s review some of the fees and charges that you might encounter while trading with Coinbase:
| Fees and Charges | Details |
|---|---|
| Minimum deposit | None |
| Fiat deposit fees | $10 (wire), €0.15 (SEPA) |
| Fiat withdrawal fees | $25 (wire), £1 (SEPA) |
| Crypto transfer fee | None |
| Exchange fees | From 5bps/0bps taker/maker fees |
| Lightning Network fee | 0.1% |
| Staking commission | From 25% |
2. Kraken – Top Exchange for Professional UK Crypto Traders
Kraken is one of the most trusted crypto exchanges with over 10 million active users. From our experience, it hosts quality resources that best suit professional cryptocurrency traders and investors. Its powerful investing platform streamlined our experience, especially regarding fast trade execution speed. Plus, there are a variety of advanced charting and technical analysis resources, including the third-party TradingView platform. All you have to do is take advantage of them for thorough market analysis and strategy development.
At Kraken, we explored over 200 cryptocurrencies, including popular options like Bitcoin, Ethereum, Dogecoin, Litecoin, and more. It is a customisable exchange, allowing you to explore the crypto market for a longer period. Plus, its API makes it easier for you to integrate your Kraken account with various third-party features such as trading bots and portfolio management. It’s also mobile-friendly and operates seamlessly on Android and iOS smartphones and tablets.
Kraken
✔245+ available crypto
✔Simple user interface
Pros & Cons
Fees
Trading Assets
Pros
- Protect client funds and assets with industry-leading security
- Allows users to maximise returns with deep liquidity and minimum slippage
- Premium users can execute orders exceeding £10,000 with Kraken OTC
- Supports flexible funding options, including crypto, cash, and cards
- Highly customisable trading modules are available
Cons
- Fewer crypto assets than other industry leaders
- Higher fees for low-volume traders
Fees are a bone of contention with Kraken because while some praise the platform’s affordability, lenient fees are mostly available to pro users and high-volume traders. For instance, individuals with a 30-day trading volume can enjoysuper-low maker fees starting from 0.00%. On the other hand, the maker/taker fees for low-volume traders can go as high 0.25%/0.4%. We’ve outlined some of the fees that our gurus unearthed while evaluating Kraken in the table below.
| Fees and Charges | Details |
|---|---|
| Maker/taker fees | From 0.00%/0.10% |
| Margin trading fees | Between 0.01% and 0.02% |
| Rollover fee | Up to 0.02% (per 4 hours) |
| Instant buy fees | Yes |
| Account inactivity fees | No |
| Minimum deposit requirement | 0.00001 BTC |
3. Crypto.com – Top Multi-Asset Crypto Exchange in the UK
While all the cryptocurrency exchanges listed here are multi-asset, Crypto.com excels in this category. So far, it has over 100 million clients trusting its services. We also noticed more than 300 crypto token listings, including popular options like Bitcoin, Ethereum, Cronos, Solana, and more. For those into NFTs and dApps, this exchange has a vast collection for you. You can view NFTs, discover their rare traits, share them on social media, and more. Moreover, you can trade cryptocurrency pairs ALGO/BTC to BTC/USD while enjoying favourable leverage limits.
Besides being user-friendly and customisable, Crypto.com exchange is mobile-friendly, and you can access it using your Android or iOS mobile device. We also like that it allows users to stake their assets for rewards, giving them extra opportunities to earn profits. Its DeFi wallet is non-custodial and has impressive features that will keep you glued to this exchange long-term. Another feature we discovered at Crypto.com includes up to 5% cashback deals on Crypto.com Visa card expenditures.
Crypto.com DeFi Wallet
✔Decentralized wallet
✔Over 25 tokens
Pros & Cons
Fees
Trading Assets
Pros
- Users can trade over 350 crypto assets
- Excellent customer support services
- Up to 5% cash back on metal visa cards
- Traders can use Crypto.com Pay to make crypto payments
- Reasonable staking rewards
Cons
- High trading fees for low-volume traders
- Beginners might have a hard time navigating the platform
The Crypto.com wallet is free, so you don’t have to worry about spending your hard-earned money on subscription fees and similar charges. That said, while using this wallet, you may be subject to transaction fees, swap fees, and other costs. They often vary from time to time, so we highly encourage you to review the company’s terms and conditions and stay on top of all arising developments.
4. Exodus – Beginner-Friendly Cryptocurrency Exchange in the UK
As a beginner, you need a user-friendly exchange with the best supportive team to ensure you effectively settle in. From our analysis, Exodus is a considerable choice as it has a streamlined account set-up procedure that takes minutes to complete. Moreover, it has a fast trade execution speed, and you can access it on your desktop and mobile device. And when it comes to support service, we like the professionalism available. While contacting them, their response was prompt, and we found solutions that were relevant to our activities.
We also like that Exodus has an in-built wallet, allowing you to manage your crypto investments on a single platform. Plus, you can connect Exodus with a Trezor hardware wallet if you prefer offline storage. Most importantly, Exodus has a vast Knowledge Base program with countless articles that address the basics of crypto trading.
Pros & Cons
Pros
- Simplified, stylish, and beginner-friendly user interface
- Combines a secure exchange with a top-tier wallet
- Over 300 cryptos are available, including BTC and ETH
- A wide range of helpful educational resources
- Zero crypto trading fees
Cons
- Users can’t optimise security with 2FA
- Limited functionalities compared to its peers
5. CEX – Best Exchange With Fiat Currency Support
CEX.IO is an FCA-regulated crypto exchange—proof that it is fully vetted and trusted by UK crypto traders and investors. We find it perfect for those who prefer fiat currency transactions because of its multiple fiat currency support. These include GBP, USD, and EUR. You can use these currencies to buy over 100 cryptos via prepaid cards, PayPal, bank account, Google Pay, Apple Pay, and Skrill. We find this feature amazing and flexible for any user trying to explore the cryptocurrency landscape.
We like that CEX strives to expose you to new cryptos as they are launched. Plus, you will enjoy staking rewards of up to 5% annually and endless promotions that will excite your experience. For those into spot and automated trading, CEX has your back with these features. You will automate trading with stable and reliable API channels like WebSocket (WS) and Rest.
Pros & Cons
Pros
- Allows users to purchase and sell crypto with popular fiat currencies like GBP, EUR, and USD
- Reasonable daily deposit and withdrawal limits
- Responsive support technicians are available 24/7
- Offers a crypto debit card for spending digital currencies
- Users can stake crypto and earn juicy returns
Cons
- Supports fewer crypto assets than its peers
- High SWIFT minimum deposit requirements
Crypto Trading in the UK
Cryptocurrency trading is legal in the UK, and any investor above 18 years of age can engage in the activity. While the UK’s financial landscape is overseen by the Financial Conduct Authority (FCA), note that cryptocurrencies are largely unregulated in the region. This means that investors are highly unlikely to be covered by the Financial Services Compensation Scheme (FSCS). Therefore, if you experience any form of crypto-related losses, do not expect any kind of compensation.
UK traders and investors can venture into cryptocurrency using an FCA-regulated broker or reputable exchange. This is because, with the surge in crypto investing over the years, fraudulent individuals have dominated the market. They are looking for innocent individuals to scam off their hard-earned money. Do not commit to an exchange simply because it offers an excellent deal. Remember, when the deal is too good to be true, then it probably is.
Overall, cryptocurrency trading carries risks, which you must understand before undertaking the venture. Start by learning how the market works and strategise accordingly before opening a position. Plus, apply risk management controls to mitigate massive losses in case a trade fails to work in your favour. Most importantly, familiarise yourself with the tax implications of crypto investing for effective planning.
What is a Crypto Exchange?
A crypto/cryptocurrency exchange is a trading or investing platform where individuals buy, sell, trade, and secure various digital tokens. These include Bitcoin, Ethereum, Litecoin, Solana, Dogecoin, and more. Simply put, crypto exchanges are like stock exchanges but connect you to digital currencies to explore in various ways.
Crypto exchanges are online, and you can access them using your internet-enabled desktop or mobile device. They not only connect you to crypto tokens but also supply quality resources for your skills and strategy development. Unlike brokerage firms that act as intermediaries, exchanges connect you directly with a buyer and seller for direct transactions.
There are various types of crypto exchanges to note, including centralised (CEX), decentralised (DEX), and hybrid. Centralised exchanges are regulated by a single authority, which tracks every account and maintains the full charge on each transaction. In contrast, decentralised exchanges allow trading without any authority. They are fully autonomous, and users get complete control of their digital assets and keys.
Lastly, we have hybrid exchanges, which are a combination of both DEX and CEX exchanges. Hybrid exchanges combine the convenience of CEXs and the benefits and security that come with DEXs.
How to Choose the Best Crypto Exchange UK
The crypto market is one of the most volatile, hence the need for the best crypto platform UK. With many options available, we understand how daunting it can be to make a suitable choice. Therefore, we decided to share below some tips to guide you in making a suitable choice.
Security
Supported Tokens
Costs/Fees
Platform Performance
Reputation
Support Service
Your safety should be of the utmost importance when choosing the best crypto exchange UK. Prioritise highly encrypted options so that your personal information isn’t in jeopardy. Note that the majority of crypto exchanges have hacking histories, and you do not want to risk having your personal data falling into the wrong hands. Additionally, you will find some exchanges that are licensed and regulated by the Financial Conduct Authority (FCA). This should be a plus, as the FCA ensures the exchanges follow its stringent regulations to secure the UK’s online financial landscape.
There are numerous cryptocurrencies in the financial landscape, and you probably have the one you are familiar with and are looking to invest in. In this regard, choose an exchange that lists your preferred digital currency. Most exchanges, like the ones we recommend above, list multiple cryptos, including emerging ones. Choosing them means you have a wide range of offerings at your disposal to explore if you want to try something new. Plus, it will be easier for you to diversify your portfolio across many digital tokens.
Cryptocurrency exchanges charge varying fees depending on their services and offerings. As a trader or investor, have a budget and settle with an exchange that aligns with it. Some of the costs to confirm include commissions, maker/taker fees, inactivity fees, deposit and withdrawal charges, and more. You should verify whether your preferred exchange has a minimum deposit requirement and whether you are comfortable depositing that amount.
The best cryptocurrency exchange UK should have a user-friendly and modern design platform for a streamlined experience. Confirm its trade execution speed, especially if you are looking to open short-term positions. Other features to prioritise include mobile device compatibility, market analysis and learning tools offerings, digital wallet support, and more.
Ask yourself how reputable your crypto exchange is, and only settle once you are confident in your answer. Analyse current and previous users’ opinions on Google Play, the App Store, and Trustpilot to gain insight into your exchange’s strengths and weaknesses. With honest user ratings and reviews, you will easily make a suitable choice for your trading requirements.
One thing we like about the crypto market is it is open around the clock, seven days a week. It offers endless opportunities to traders. That is why you must consider the availability of an exchange’s support team and ensure it aligns with your schedule. Plus, the best team should be responsive and offer relevant solutions so you do not waste time managing any arising challenges. Most importantly, check the communication channels in which an exchange can be contacted to ensure it is efficient for you. This is whether it is via phone, email, or live chat.
Crypto Trading Risks for UK Traders
Exploring digital tokens carries risks that, if not strategically managed, can result in losses. Below, we share some of the most common crypto trading risks for UK traders.
- Leverage risks
Trading cryptocurrencies exposes you to leverage/margin trading. Here, you will have an opportunity to open and manage a larger position with a small capital. Since the crypto market is highly volatile, things can work out in your favour, thus bringing good profits. However, you may also incur massive losses should a trade fail to be a success.
- Volatility risks
The value of cryptocurrencies has proven to be extremely volatile, meaning that asset prices tend to constantly change. With highs and lows in prices, it can be challenging to track a token’s value and make accurate predictions.
- Cash management risks
Many cryptocurrency traders and investors lose their money due to unplanned decisions. They open crypto positions based on emotions like fear, excitement, or greed. This can be highly risky, especially if you haven’t conducted extensive research for solid strategies. It is best to only make a move when you are certain and confident.
- Regulatory uncertainties
There are no consistent regulations on how cryptocurrencies are managed in the UK. As such, the market has become uncertain and volatile, thus impacting how users access or use cryptos.
- Security risks
Cryptocurrency exchanges and tokens are not the same as they are created differently. While some exchanges are more secure and regulated by the FCA, others aren’t. This means that in case you commit to the best crypto trading platform UK and end up losing your acquired digital asset, there is no protection or insurance for your lost assets.
Pros & Cons of Trading with Crypto Exchange
Trading with cryptocurrency exchanges in the UK has proven beneficial to many traders and investors in the region. However, some pitfalls have also risen from engaging in crypto investment using an exchange. These include:
| Pros | Cons |
|---|---|
| They make it easier and more convenient for users to trade, buy, sell, and store cryptocurrencies. | Exchanges are more prone to hacking and cyber attacks, considering the unregulated condition of the market. |
| Exchanges allow users to place legitimate trades with cryptos. | Some exchanges will not give you the right to own private keys, thus jeopardising your digital tokens. |
| Many UK exchanges allow you to trade on margin. This can bring about higher returns, but understand that losses can also be amplified. | Transactions on centralised exchanges can be higher than peer-to-peer transactions. |
| There is no market manipulation with peer-to-peer decentralised exchanges. Users are protected from fake trading. | |
| Crypto exchanges expose you to diverse volatile tokens, which increases your potential for profits. |
Conclusion
The cryptocurrency landscape is largely unregulated, so you should always approach this venture cautiously. As a trader or investor, start by choosing a suitable exchange that is highly secured and reputable. Our options above have proven reliable, with a legit online presence and excellent user testimonials. You should also find the best digital wallet for securing your tokens once purchased. Wallets are more secure than exchanges, which are prone to cyber-attacks.
Remember, having the best UK crypto exchange will only maximise your experience and potential and will not guarantee successful trades. Therefore, be strategic, trade only when you identify an opportunity, and invest funds you are comfortable losing.
Additionally, exploring different Bitcoin wallets can enhance your security and control over your cryptocurrency holdings.
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