💠 8 Coinbase Alternatives for UK Citizens

Coinbase is one of the most popular crypto exchanges. However, there are several reasons why investors seek Coinbase alternatives for UK people. 

Coinbase has a limited selection of tradeable coins. The platform has a record of going offline during peak market periods. Coinbase fees are also relatively high compared to competitors.

This article provides a shortlist of the eight best Coinbase alternatives for UK people. We will go over the platform features and their pros and cons. Lastly, we’ll discuss how to choose the best option for you.

Let’s dive in!

8 Alternatives to Coinbase for UK People

Uphold

Uphold is the go-to alternative to Coinbase in the UK, serving over 10 million users in 150 countries. With a simple platform, Uphold facilitates the trading of Bitcoin, 250+ cryptocurrencies, and traditional currencies, catering to diverse investment preferences. Uphold stands out for its 100% reserve model, ensuring funds' security without resorting to lending. It prioritizes transparency, providing real-time updates on asset and liability data every 30 seconds, fostering trust among users.

Features:

• Extensive selection of tokens with early support
• Integration with 26 underlying exchanges for optimal token prices
• Global spending capability with the Uphold Card
• Advanced trading options including take profit and trailing stop loss
• Instant conversion between supported assets
• Automated trading through transaction scheduling
• Cryptocurrency staking functionality
• Compatibility across both mobile and web platforms
• Audit for proof of reserves

Pros:

• Best for beginners 
• Easy to use interface 
• Excellent 24/7 customer support team.

Cons:

• Basic charting 

Visit Uphold

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more 

OKX (Recommended)

Founded in 2017, OKX is one of the most popular cryptocurrency exchanges. It tops our list of Coinbase alternatives in the U.K. because of its regulatory compliance with laws that forced several other exchanges to stop offering services in the region.

OKX is also popular for its wide selection of coins and advanced trading functionalities for advanced traders. 

Features

• Mobile app
• P2P trading
• Demo trading
• Crypto-backed loans
• Spot and futures trading
• Trading bots and copy-trading
• Launchpad for investing in new projects

Pros

• Transparent fees
• Advanced trading functionalities.
• Excellent 24/7 customer support team.
• Card purchases through third-party gateways.
• OKX has an excellent security record, with no breaches recorded in nearly a decade.

Cons

• Not the best user experience for first-time investors.
• Bank deposits are not directly supported (except via P2P)

Payment Methods

Card Payments (Visa, Mastercard). Wise and Bank Transfer (via P2P trading), 

Visit OKX

Bitget

Despite only launching in 2018, Bitget has grown into one of the largest cryptocurrency exchange by market volume and liquidity. It offers users access to a wide range of cryptocurrencies and a suite of investment products that investors can use to their advantage.

Features

• Mobile app
• Instant purchases
• Spot and futures trading
• Trading bots and copy-trading
• Launchpad for investing in new projects.

Pros

• A broad selection of coins
• Advanced trading functionalities
• Excellent customer support team
• Bitget has high liquidity across its order books and trading pairs.
• Bitget is an excellent choice for UK investors to deposit via bank transfers.

Cons

• High withdrawal threshold (around $20)

Payment Methods: Bank Transfer (via Faster Payments), Visa, Mastercard.

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PayBis (0% fees on your 1st purchase)

PayBis is a crypto exchange launched by blockchain enthusiasts in 2014 and based in Glasgow (UK). The platform allows buying and selling cryptocurrency using a variety of banking options.

Features:

• Strict security standards;
• Lowest fees on the market (0% on your 1st purchase);
• Round-the-clock, multilingual customer support;
• Fast and easy verification procedure;
• Support for 47 currencies and ten cryptocurrencies.
• Worldwide accessibility.

Pros:

• No Paybis fees on the first transaction;
• Transparent commission rate;
• Excellent rating on Trustpilot;
• Fast transactions;
• Coverage of over 180 countries;
• License and eligibility of FinCEN Department of the Treasury, USA.

Cons:

• High fees on credit and debit card purchases;
• Minimum of advanced trading features.

Payment methods:

Credit and debit cards, SEPA Bank transfer, Skrill, and Neteller

Visit PayBis

Bitfinex

Launched in 2012, Bitfinex is one of the oldest cryptocurrency exchanges. Although the platform is ideal for sophisticated traders, even newcomers may find their way around with good effort.

Bitfinex is easily one of the best UK crypto exchanges because it enables fiat deposits and withdrawals from the region. Additionally, the platform has built a strong reputation owing to its longetivity.

Features

• Mobile app
• P2P trading
• Demo accounts
• Crypto-backed loans
• Cryptocurrency staking
• Customizable trading interface
• Spot, futures, and margin trading

Pros

• Transparent fees
• Advanced trading functionalities
• Deep liquidity across supported pairs
• Excellent customer support experience.
• Support for major fiat currency pairs, including GBP and EUR.

Cons

• Supports fewer coins than competitors
• The user interface is not ideal for first-time users

Payment Methods

Bank Wire, Credit and Debit Cards

Visit Bitfinex

Bitstamp

Based in London, Bitstamp is another one of the oldest cryptocurrency exchanges, having launched in 2011. Notably, Bitstamp is one of the few registered with the United Kingdom's Financial Conduct Authority (FCA). It is also among the few platforms with more than a decade of operations under its belt without a security breach.

Features

• Mobile app
• Crypto-backed loans
• Cryptocurrency staking
• Customizable trading interface
• Spot, futures, and margin trading

Pros

• Transparent fees
• User-friendly interface
• Advanced trading functionalities
• Robust liquidity across supported pairs
• Reliable customer support experience.

Cons

• Supports fewer coins than competitors
• No option for investing in upcoming crypto projects through a launchpad.

Payment Methods

Bank Wire, SEPA, Credit and Debit Cards

CoinMama

CoinMama is another old and reliable cryptocurrency exchange that many consider an excellent Coinbase alternative for UK people. It launched in 2013 and serves over 2.4 million customers in over 188 countries, including Europe and the United Kingdom.

Features

• CoinMama is a good option for first-time users to buy Bitcoin.
• Buy and sell support for most of the top ten cryptocurrencies.
• A loyalty program for customers
• The exchange has a rich FAQ page that addresses new user concerns.

Pros

• CoinMama is as old as Coinbase and a reliable platform for UK investors looking to buy crypto.
• The user interface is sleek and easy to use for anyone who understands the basics of Bitcoin.
• Coins are delivered almost immediately after payment (barring high activity on the cryptocurrency network)
• CoinMama has an excellent support team that users can easily reach via the LiveChat option on the website.

Cons

• CoinMama’s stringent KYC process means users have no privacy or anonymity.
• Other exchanges offer lesser fees than CoinMama’s 5% markup for each purchase using credit, debit, or prepaid virtual cards.

Payment Methods: Credit and debit cards, SWIFT, SEPA Bank Transfer, Apple Pay.

Visit CoinMama

Gemini

Despite launching way back in 2015, it was only in 2020 that Gemini opened its world-class cryptocurrency exchange services to European customers. In the United States, Gemini is often considered a worthy Coinbase alternative, and the same can now be said for UK users seeking alternatives to Coinbase.

Features

• World-class security and insurance coverage for crypto assets stored on Gemini
• Gemini has a sleek interface and native support of GBP and EUR.
• Support for most cryptocurrencies available on Coinbase.
• Gemini has a mobile app available for Android and iOS users.
• Extensive support for institutional investors.

Pros

• Gemini is as reliable as Coinbase and has fewer downtime issues compared to Coinbase.
• Gemini is licensed by the UK Financial Conduct Authority (FCA) as an e-money institution.
• Gemini supports the buying and storage of the most popular altcoins, including Chainlink (LINK), Cardano (ADA), and even Wrapped Bitcoin (WBTC).
• The exchange has a world-class customer support team.
• Gemini provides educational tools for first-time cryptocurrency investors.
• Gemini offers competitive asset pricing, and there are no hidden fees.

Cons

• Compared to other competitors, Gemini offers fewer cryptocurrencies for trading.
• Gemini has a stringent KYC process that may not be ideal for anyone looking to purchase crypto anonymously.

Payment Methods: Debit Cards, Bank Transfers.

Kraken

Kraken is another cryptocurrency that conveniently falls into the same category as Coinbase. Kraken was launched in 2013 and has grown beyond being a mere bitcoin trading platform. The exchange operator recently acquired a license to launch a U.S. crypto bank and continues to offer its services to European users.

Features

• Educational materials for new investors.
• Native support for EUR and GBP.
• Proof-of-reserve audits for users to verify assets being held at the exchange.
• Trading options are available on mobile via Kraken Pro.
• Kraken offers an OTC desk for large purchases and a suite of services for institutional clients.
• Staking options are available for different proof-of-stake (PoS) cryptocurrencies.

Pros

• Kraken boasts highly liquid order books across the trading pairs it offers.
• Kraken hasn’t suffered any notable security breaches despite existing for almost as long as most exchanges in the industry.
• Users have access to top-notch security tools to help them secure their Kraken account and crypto-assets
• Kraken has an excellent 24/7 customer support team.
• The exchange supports most large-cap cryptocurrencies.

Cons

• Kraken supports fewer coins compared to competitors.
• The platform isn't very user-friendly for new investors.

Payment Methods: Wire Transfers, Bank Cards, and supported Cryptocurrencies.

How to Choose the Best Coinbase Alternative

We made this shortlist so that users can learn about the different alternatives to Coinbase on the market and their basic features. However, if you’re still having a hard time picking from the lot, it may be best to evaluate your reasons for moving elsewhere.

As noted at the onset, one of the reasons why users seek Coinbase alternatives is because of the platform’s record of going offline during periods of huge traffic. If you share a similar reason, you can rest assured that any of the recommended exchanges on this list will allow you to buy or sell Bitcoin anytime without any downtimes like Coinbase’s.

Meanwhile, you can still use any of them to enjoy buying cryptocurrencies at lower fees, access diverse payment options (e.g., OKX and Bitget), or access crypto-investment products.

Read Also: Binance Alternatives for UK Traders

Conclusion

Diversity makes life interesting, and the same principle applies to crypto investing and your choice of an exchange platform.

In this article, we delivered on our promise to provide you with a list and review of some of the best Coinbase alternatives for UK people. Although the platforms offer slightly different features, either of them can serve as a Coinbase backup or replacement if you're looking to move elsewhere.