It comes as no surprise, cryptocurrency adoption in the UK market is on the rise at an incredible rate. According to the FCA's latest research on consumer attitudes and behaviours towards crypto, 12% of UK adults now own crypto, up from 10% in previous findings. To that effect, the demand for converting profits back to traditional currency in the UK is growing by the day.
Additionally, crypto users number is expected to reach a jaw-dropping 25m users globally by 2026 (Statista). With that in mind, let’s take a look at the top off-ramp exchanges and what this truly means.
Table of Contents
What is a Crypto Off-Ramp Platform and How Does it Work?
In simple terms, crypto off-ramp platforms are crypto exchanges that allow seamless conversion of crypto to fiat currencies, or rather hard cash (Quid, USD, and others). Generally speaking, these platforms support a range of transfer methods including bank transfers for easy deposit and conversation of fiat currencies.
With that, you can easily make a purchase or sell your cryptos, straight with the money from your bank account without taking any completed steps. That makes these crypto exchanges the best place for anyone looking to quickly convert their currencies to crypto or fiat and vice versa.
Best Crypto Off-Ramps – Top 10 Picks
Top off-ramps exchanges include:
OKX
Out of all the crypto exchanges, there are a few that definitely stand out as the best crypto off-ramp platforms. OKX is of course one of them. With over a million users worldwide and years of experience, OKX has received numerous positive reviews, for their impeccable crypto services.
Key features
- Broad crypto token options
- Advanced trading features
- Simple and quick transactions
- User-friendly design
Pros
- Fast and straight forward transactions
- Offers considerably low fees
- High security protocols
Cons
- Limited payment options. You can only use Visa and MasterCard cards
Transaction Fees: you will incur a 2.49% on the off-ramp feature
Transfer Time: typically between 1 hour to 14 days for bank transfers.
Bitget
Bitget is another one of the best off ramp providers with unique features, competitive fees and considerably high levels of security. So far, this platform has amassed over 45 million users worldwide. Aside from that, Bitget offers off-ramp services with competitively low fees to further its brand presence in this overly saturated field.
Key Features
- Multiple payment options with 140+ fiat currency support
- 800+ supported cryptocurrencies
- High liquidity
- Quanto Swap contracts
Pros
- Bitget is best known for copy trading
- Low trading fees
- Multiple fiat currency support
- Easy to use
Cons
- Not ideal for beginners
Transaction fees: you will be subjected to 2-8% fee on trades
Transfer time: takes between 1-2 business days
Uphold
Uphold is one of the best exchange to off-ramp crypto in the UK. It has a user friendly platform and makes it so easy to convert your digital assets to GBP and EUR. The best part is that it makes this entire process simple and uncomplicated.
Key Features
- Operates under the Financial Conduct Authority in the UK
- The platform is intuitive and easy to navigate
- Uphold Card allows you to spend your crypto and fiat balances anywhere
- Trade directly between asset classes
Pros
- Offers clear and competitive fees
- Instant deposits via Apple Pay, Google Pay or credit/debit cards
- Secure transactions
Cons
- Higher trading fees
- Lacks advanced trading tools desired by professional traders
Transaction Fee: Debit Card/Credit Card/ Apple Pay/Google Pay- 1.75% (min 1 Euro)
Transfer Time: SEPA Transfers- 1-3 business days
PrimeXBT
Out of the discussed exchanges, PrimeXBT is the first one to offer more than just cryptos. In fact, on this platform, you have the liberty to trade in stocks, and forex. That’s because this is a CFD exchange on top of it being a crypto exchange.
However, compared to most exchanges, PrimeXBT only offers CFDs trading and not spot trading which is usually the case.
Key Features
- Cold storage of assets
- Full SSL encryption
- Multiple trading options
- Leverage trading
Pros
- Supports multiple cryptocurrency tokens
- Ability to trade more than just cryptos
- High levels of security
- Advanced trading features
Cons
- Doesn’t offer spot trading
Transaction fees: 0.05% on cryptocurrencies and 0.001% on indices, Fx, and commodities
Transaction time: almost close to 14 days
Crypto.com
This is exchange quite popular, with over 10 million users in 200 countries. Aside from simply offering a trading space, Crypto.com takes a step further by offering educational resources, reward opportunities, and DeFi wallets. With over 350+ cryptos and 20+ fiat currencies, this platform a one-stop shop for all your UK crypto conversion needs.
Key features
- Spot trading and OTC trading options
- DeFi wallet
- Advanced execution algorithm
Pros
- Multiple cryptocurrencies available
- Has an NFT platform that’s separate
- Over 5% Cashback on your Visa card purchases
- Ability to set a price alert and movement alert
Cons
- Not available to certain countries
- Higher transaction fees
Transaction Fees: charges 2% fee monthly on ATM withdrawals and 1% fee on debit card top-ups. You also get 2% fee on credit card.
Transaction Time: 2-3 hours
Coinbase
This crypto exchange platform is one of the largest in the crypto market and one of the best crypto off-ramp platforms in the UK. Thanks to this exchange’s cautious approach towards the crypto market, Coinbase is properly regulated. With their exceptionally fast bank transfers, and lower fees, this fiat off-ramp exchange is best for cashing out with ease.
Key features
- Regulated and secure
- Multiple payment options
- Reliable liquidity
- Integrated with staking and trading
Pros
- Exceptionally fast bank withdrawals
- Easy to use platform
- Offers multiple section of coins
- Multiple payment options
Cons
- Strict KYC requirements
Transaction fees: instant cash withdrawals are subjected to 2.49% fee, while bank transfers can vary.
Transfer time: 1-2 business days for SEPA transfers
Kraken
Another ideal platform to withdraw crypto but is US based is Kraken. This exchange was started back in 2011, offering top-tier services to their clients. Kraken is a highly dependable and of course, trustworthy exchange. In addition to that, Kraken offer multiple fiat currency option making it efficient for anyone who wants to enter the crypto market.
Key Features
- Personalized service
- Fiat currency trading option
- Over 200 different cryptocurrencies
- Advanced security protocols
- Intuitive mobile app
Pros
- Kraken has gained a global reputation for it’s proof to safely manage client funds
- Easy to use mobile application
- Variety trading options
Cons
- Some customers complain about rather poor customer service
Transaction fees: instant feature has up to 0.5% fee and vary from one fiat currency to another
Transfer time: up to 2 days
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MEXC
MEXC has built quite the reputation among crypto enthusiasts and investors as an all-rounder exchange. This exchange supports close to 3,000 cryptos, often adding new ones as they get launched. Their off-ramp feature is also efficient, simple and fast.
On top of that, MEXC is one of the few exchanges that allows trading without completing KYC requirement without compromising your security in the process.
Key Features
- Future demo trading
- Copy trading feature
- Multiple cryptocurrencies
- Intuitive user interface
Pros
- Easy to use platform
- Offers trading even before completion of KYC
- Multiple coins to trade on
- You can practice using the demo trading
Cons
- No GBP withdrawals
Transaction fee: up to 3%
Transfer time: up to 3 days
WhiteBIT
Another exchange that made it as one of the best crypto to fiat off ramp platforms in the UK is WhiteBIT. This platform easily ranks up as one of the top European centralized cryptocurrency exchanges that offers off-ramp services.
What’s more, WhiteBIT is currently the official partner of FC Barcelona and VISA. Aside from that, WhiteBIT is CCSS certified, making it the first-ever crypto exchange to actually get this certification.
Key Features
- High security levels
- Multilingual 24/7 support team
- Advanced trading tools
- High trading and liquidity volumes
Pros
- Intuitive user interface
- Over 300 cryptocurrencies available
- Higher security levels
Cons
- Geographic restrictions
Transaction fees: generally has lower than 0.1% fee in all transactions.
Transaction time: between 1 hour to two days.
Gemini
Gemini, the crypto exchange founded by the Winklevoss twins, is fully operational in the UK, offering services in GBP and EUR. Authorized by the Financial Conduct Authority (FCA) as an Electronic Money Institution, Gemini ensures compliance with UK regulations.
Key Features
- Secure wallet storage
- Advanced trading tools
- User-friendly interface
- Fully licensed and compliant
Pros
- Gemini emphasizes security and compliance
- Simple and intuitive interface
- Full regulated
Cons
- Standard trading fees are higher compared to some competitors, especially for small trades
- Has a decent variety, but not as extensive as some other platforms.
Transaction Fee: Gemini charges a flat 0.5% above the current trading price (convenience fee).
Transfer Time: Bank Transfers: Takes about 4-5 business days to hit your account
Choosing the Right Crypto Off-Ramp: 5 Factors to Consider
Are you set to convert your cryptocurrency into cash, but have no idea where to begin? In this part, we will cover precisely what you will need to do to prevent unpleasant surprises later. Here are some of the things you need to consider when picking the best off-ramp.
- Fees and Exchange Rates
Many service providers seem to be genuine platforms, but most will include service fees that will prove unmanageable in the longer term. Always look deeply into hidden charges as well, instead of focusing just on the upfront costs.
Withdrawals, network and even service charges may not seem like much, but they will add up to a significant amount over time. So, make sure you compare your options and avoid any platforms that could potentially drain your pockets.
- Speed of Transactions
You probably don’t want to be stuck waiting days for your funds. With that said, look for an off-ramp that’s known for speedy transactions. It’s likely that you will come across some platforms that claim to have instant payouts. But if you check the reviews- they tell you a different story. So, be cautious, fast is great but consistent and reliable is even better.
- Security Measures
We all know the dreadful outcomes of dealing with off-ramps with insufficient security measures. If an off-ramp does not offer reliable security, stay away from it at all costs. The platforms that are better for you are those that provide services with “2-FA”, and stronger encryption.
- Payment Methods
Choosing an off-ramp with the right payment methods is crucial for a smooth experience. If you’re stuck with only a bank transfer or PayPal, you might find yourself dealing with delays or extra fees. This is not just about convenience but flexibility. You don't want there to be extra obstacles in place to get your money
- Ease of Use
Lastly, let us discuss usability. The last thing that you want when cashing out is a difficult interface. Always take into account the interface. You want an off-ramp that is designed with users and ease of use in mind as cashing out should be as smooth as possible. Pick something intuitive and user-friendly.
FAQ
- What is the cheapest way to off-ramp crypto?
In most cases, bank transfers tend to be the least expensive option. This is because banks tend to charge lower fees and offer greater convenience. However, it is essential that you don’t blindly pick that option. Always check if there are additional hidden charges.
- Which crypto off-ramp is the most secure
Look for platforms with rock-solid security: two-factor authentication, encryption, and regular updates. A good rule of thumb? Trust the ones with positive reviews and a proven track record in security.
- How long does crypto crypto-to-fiat conversion usually take?
Generally, it varies- at times it’s as quick as a couple minutes, whilst on other occasions you can spend a day or two waiting for your funds. The method of payment as well as the speed of the platform are both important factors.
- Which crypto off-ramp supports the most cryptocurrencies?
Off-ramp platforms like Binance and Kraken support a wide range of cryptocurrencies. Always check the list of supported coins to ensure your crypto is available for conversion.
- Are all crypto off-ramp platforms regulated in the UK?
Not entirely, some of these platforms operate without the UK’s regulation. To keep funds secure and everything above board, always choose FCA regulated platforms.
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