15 min read

💱 14 Best Crypto Exchanges in the UK

There are hundreds of crypto exchanges in the UK. Some have been around for almost a decade, while some launched within the last year. Others have reportedly lost millions of user funds to security breaches, while some do not have sufficient liquidity for users who want to execute large trades.

How do you pick out the best exchanges so you don’t lose your hard-earned money or encounter avoidable difficulties while trading and moving funds?

We made the work easier for you by providing this list of the best cryptocurrency exchanges in the UK. Note that even though some of these platforms are not located in the UK, they offer top-notch services to customers in the jurisdiction.

Top Crypto Exchanges List

Here is a list of the twelve best cryptocurrency exchanges in the UK.

1. CEX.IO – UK-Friendly

CEX.IO

Country: Great Britain

CEX.io is one of the most reliable fiat to crypto exchanges and has its offices located in London, UK. Such physical presence is complemented by the array of world-class trading and investing tools that the company provides to new and existing cryptocurrency investors.

Features

  • An instant Buy and Sell widget for crypto investors.
  • Spot and margin trading
  • Crypto staking and savings products
  • Crypto-collateralized loans.
  • A mobile app for on-the-go investors
  • CEX.io has an affiliate program for marketers and influencers.

Fees:

  • Maker 0.16%, Taker 0.25%.
  • Card deposits 2.99%
  • Card withdrawals: Visa, 3% + 1.20. Mastercard, 1.8% + 1.20.

Here is the full fee schedule:

CEX fee schedule

Pros

  • The CEX.io interface is easy to use for first-time investors.
  • The platform supports a variety of convenient fiat deposit options.
  • CEX.io’s trading service lists a range of large market cap cryptocurrencies.
  • Experienced investors can trade with up to 100x leverage on some cryptocurrencies.
  • Users can borrow fiat against their crypto assets stored on CEX.io.
  • The exchange boasts sufficient liquidity across its listed trading pairs.

Cons

  • CEX.io has a 1-day usual response time on user enquiries.
  • The user verification process is extensive and restricts users with no valid ID.

Supported Payment Methods: Domestic Wire Transfer, Debit Cards (Mastercard and Visa), SWIFT, SEPA, Faster Payments, Skrill.

Visit CEX.IO

2. Binance — The Cheapest

Binance

Country: Global

If you’re looking for a high-performance cryptocurrency exchange that has cheap fees, then Binance is a good option. It is the world’s largest crypto exchange by daily spot trading volume and is available to users in most jurisdictions, including the UK. After years of secure operations, Binance can be considered the safest platform.

Features

  • An instant “Buy and Sell” crypto option.
  • A Visa card for converting and spending crypto.
  • P2P trading platform.
  • An OTC desk for large and institutional traders.
  • Access to crypto-collateralized loans.
  • Binance provides educational content for new investors via Binance Academy.
  • A variety of trading interfaces that matches the user’s experience.
  • Interest-paying crypto products and staking facilities.

Fees:

  • Maker 0.1%, Taker 0.1% (lowest fees can be achieved when using BNB)
  • There are no deposit and withdrawal fees for GBP and EUR transactions.

Binance feesBinance fee schedule

Pros

  • Binance lists a large number of cryptocurrencies and adds new assets that are widely in demand.
  • Binance offers high liquidity across all trading pairs.
  • The exchange has a responsive customer service desk.
  • Users enjoy a discount on trading fees when they use Binance Coin (BNB).
  • Binance allows experienced traders to enjoy a high leverage position, up to 125x.

Cons

  • Binance is loosely regulated and may come under the regulatory spotlight in the future.
  • Binance has occasionally listed crypto tokens that turned out to be apparent scams.

Supported Payment Methods: Faster Payments, Debit Cards (Visa and Mastercard), Bank transfers via P2P trading, Third-party gateways (Banxa, Simplex).

Visit Binance

3. 7b – No KYC Required

7b homepage

Country: Seychelles

7b is a crypto broker that was created by a team with over 10 years of trading experience. The service provides a wide range of trading tools and can be accessed via a web browser or mobile app (Android). One of the outstanding features of why traders choose this broker is withdrawals up to 2BTC without KYC verification.

Features

  • Variety of trading tools both for beginners and experienced traders;
  • Excellent security;
  • Round-the-clock customer support;
  • Intuitively friendly app interface;
  • Possibility to trade over 400 coins.

Fees: the commission depends on the pair

Pros

  • Simple in usage;
  • High-speed transactions;
  • Responsive and multi-purpose support team;
  • Competitive fees;
  • Developed by a professional team with over 10 years of experience;
  • Suitable for professional traders and beginners.

Cons

  • The website is not very informative;
  • Fee policy can be found out only when you place the order;
  • Not enough users' feedback;
  • Young project.

Visit 7b

4. LocalBitcoins – Best P2P Exchange

LocalBitcoins

Country: Finland

LocalBitcoins is a peer-to-peer cryptocurrency exchange and one of the oldest in the industry. It allows buyers and sellers to trade Bitcoin and Ethereum and primarily serves as an escrow service for matched trades.

Fees: Sellers are charged a 1% fee for every successful trade.

Pros

  • Support for GBP and EUR.
  • LocalBitcoins is a reliable peer-to-peer crypto trading platform.
  • The website and transaction format are easy to navigate.
  • Fees are relatively low when compared to order book exchanges.
  • It supports a variety of fiat payment options for buyers and sellers.
  • The exchange boasts a fairly responsive customer service team.

Cons

  • Users could fall victim to untrustworthy sellers if they decide to play outside the flock or highly-rated ones on the platform.

Supported Payment Options: Local Bank Transfer, Skrill, PayPal, World Remit.

Visit LocalBitcoins

5. BC Bitcoin – Best Crypto Broker

BC Bitcoin

Country: United Kingdom

BC Bitcoin is a UK-based exchange and crypto broker specialising in a variety of different cryptocurrencies. If you’re looking for a trusted broker, you can choose this fast and professional service.

Features

  • Easy buy and sell.
  • Coin swap
  • Native support for EUR and GBP.
  • Buy crypto with Bank Cards.
  • Mobile cryptocurrency investment app.
  • Affiliate program.

Fees: 3.99% of the amount transacted.

Pros

  • BC Bitcoin is one of the oldest UK-based cryptocurrency exchanges and is reliable.
  • The transaction flow is easier for first-time investors.
  • The exchange has responsive customer service.
  • Transactions are settled immediately after the payment goes through.

Cons

  • Users must create an external wallet to buy crypto with BC Bitcoin.
  • The exchange offers a limited number of cryptocurrencies for direct purchase.

Supported Payment Methods: Debit Cards (Visa, Mastercard), Faster Payments, SEPA Transfers.

Visit BC Bitcoin

6. EXMO – Best For Trading

EXMO

Country: United Kingdom

Exmo is the ideal crypto-trading exchange because of its easy-to-use trading interface. It is suitable for both new and experienced traders and offers access to several fiat currencies aside from GBP and EUR.

Fees

  • 0.05% Maker, 0.05 Taker
  • Visa and Mastercard, 2.99% + 0.3 EUR.

See the full fee schedule.

Features

  • EXMO has a quick “Exchange” feature for swapping coins.
  • There is native support for trading Bitcoin for EUR and GBP.
  • EXMO supports a variety of large-cap altcoins across its 195 pairs.
  • There is a native token, EXMO, for earning rewards and trading fees.
  • EXMO has a high-performance mobile app available on Android and iOS.

Pros

  • EXMO is relatively reliable and has been around since 2013.
  • EXMO is an ideal exchange for new traders looking to hone their skills.
  • There are many fiat deposit options available to UK users.
  • Users can vote to have their favourite coins listed on the exchange.
  • Fees are transparent and relatively lower when compared to other cryptocurrency trading platforms.

Cons

  • The exchange lacks sufficient liquidity across some of its trading pairs.
  • There is no LiveChat option on the website to get quick help.

Supported Payment Methods: Faster Payments, Bacs, Chaps, SEPA, Debit Cards (Visa and Mastercard), Payeer, Advcash.

Visit EXMO

7. Coinmama – The Fastest

Coinmama

Country: Slovakia

Coinmama is another cryptocurrency exchange that launched in 2013. The platform boasts over two million users and is available to users in over 188 countries, including the United Kingdom.

Fees

  • 5.00% for Card Purchases.
  • 2.90% for Selling Crypto.

See the full fee schedule.

Features

  • A simple interface for buying and selling crypto.
  • Instant delivery of purchased crypto for Debit card purchases.
  • A virtual debit card for spending crypto.
  • High-spending limits on crypto-purchases.
  • Support for most large-cap cryptocurrencies.
  • Affiliate program.

Pros

  • The verification process is quick and easy to complete.
  • You can purchase crypto using many fiat options.
  • Coinmama has a LiveChat option and an excellent support team.
  • The exchange has strict security standards to protect its users, is also known as one of the safest ones.
  • Upon reaching Level 3 user verification, you can buy up to £100,000 at a time.
  • Coinmama allows users to take custody of their crypto and does not offer on-exchange wallets.
  • There are no fees associated with bank transfers.

Cons

  • Users must set up an external wallet before buying crypto on Coinmama.
  • Coinmama charges commissions that are relatively higher than competitors.

Supported Payment Methods: Debit Cards (Visa, Mastercard), Apply Pay, Bank Transfer, SWIFT, SEPA.

8. Swapzone – Best Non-Custodial Option

Swapzone

Country: Georgia

Swapzone is a non-custodial cryptocurrency exchange aggregator that allows browsing multiple exchanges, comparing exchange rates, and swapping crypto using one interface. It searches for available offers, sorts them out by real-time rates, speed, and ratings to help users make the best and most profitable instant swap.

Fees: depend on the exchange service

Pros:

  • Handy, progressive, and transparent;
  • Combines 15+ sources;
  • The biggest variety of assets – 400+;
  • Deals are made directly from partner exchanges;
  • No registration is needed;
  • In-house exchange via partners’ APIs;
  • 24/7 email and live chat support;
  • Rewarding referral program.

Cons:

  • Different exchange rates received from service providers;
  • You can list the coin on the exchange only if it is listed on the partners’ services.

Supported Payment Options: Cryptocurrency.

9. BitPanda

BitPanda

Country: Austria

BitPanda launched in 2014 and mainly catered for the European market, including UK users. They offer a range of services that makes the exchange a one-stop-shop for accessing the crypto market.

Fees

  • 1.49% for buying and selling crypto.
  • Maker, 0.1%, Taker 0.15%

See the full fee schedule.

Features

  • Multiple fiat deposit options
  • A crypto index for investing in a basket of cryptocurrencies via a single channel.
  • Savings products for earning interests on your crypto assets.
  • A feature-packed trading interface for professional traders.
  • There are educational resources available for new investors.
  • Bitpanda has a mobile app available on Android and iOS.

Pros

  • Bitpanda is fast, reliable, and easy to use for new users.
  • The platform implements the latest security standards to protect users and has no reported history of security breaches.
  • Bitpanda has a responsive customer service team and an active community.
  • Users can also invest in precious metals such as Gold and Silver.

Cons

  • There is no LiveChat option on the website.
  • Fees associated with transactions are not explicitly stated.

Supported Payment Methods: Bank Transfer, Skrill, Debit Cards (Visa and Mastercard), Netteller, Sofort.

10. Yobit — Best Altcoin Exchange

YoBit

Country: Russia

If you love trading altcoins and want an exchange that lists a variety of them, then you may want to check out YoBit. According to CoinMarketCap, Yobit has over 300 trading pairs and up to $45 million in daily trading volume.

Features

  • An unsophisticated and straightforward trading interface with user balances ready visible.
  • Support for a wide range of altcoins (including some you’ve never heard about).
  • Live community chat on the website.
  • Free coins for new users.

Fees: 0.2% per trade.

See the full fee schedule.

Pros

  • Yobit is a one-stop-shop for altcoin lovers and has been around since 2014.
  • Yobit has a highly responsive customer support team, including an active Telegram community.
  • The registration process is fast and easy.
  • There are no strict KYC requirements for onboarding customers.
  • Yobit offers free coins to new users.

Cons

  • Yobit is not a UK-based bitcoin exchange and is loosely regulated. The exchange lists high-risk projects.
  • Aside from major trading pairs, Yobit has highly illiquid order books with wide spreads.

Supported Payment Options: AdvCash, Debit cards (Visa and Mastercard), Payeer, Perfect Money.

11. CoinJar UK

CoinJar

Country: United Kingdom

CoinJar is a local cryptocurrency exchange that serves the UK and European markets. The platform is colorful, user-friendly, and ideal for all categories of users, including institutional investors.

Features

  • Cryptocurrency conversion
  • Direct deposit and withdrawals to and from UK bank accounts.
  • Available on web and mobile (Android and iOS).
  • Supports Bitcoin and a range of large-cap altcoins.
  • An exchange platform for professional traders.
  • OTC trading desk.
  • A Cryptocurrency debit card.

Fees: 1% flat for buy and sell orders.

See the full fee schedule.

Pros

  • Coinjar is a reliable and trusted cryptocurrency exchange with no hacking history.
  • The interface is easy to navigate for new investors.
  • The exchange rarely suffers downtimes.
  • Coinjar fees are low and transparent compared to competitors.
  • Withdrawal to external wallets does not attract an extra fee (network fee applies).
  • Coinjar has a highly responsive customer support team.

Cons

  • Coinjar supports a limited number of cryptocurrencies.
  • The platform doesn’t support card purchases.

Supported Payment Methods: Faster Payments and Bank Transfer.

12. Coinbase

Coinbase

Country: United States

San Francisco-based Coinbase is one of the most popular cryptocurrency exchanges in the world (over 30 million users) offers its services to the European audience.

Features

  • Native support for GBP and EUR deposits.
  • Debit and Credit card purchases.
  • Insurance coverage for deposited crypto assets.
  • Exchange trading facility for professional traders (Coinbase Pro).
  • Staking options for popular proof-of-stake coins.
  • High-security standards for both platform and client asset storage.

Fees

  • 3.99% for card purchases
  • 0.25 Taker, 0.15 Maker (Coinbase Pro)

See the full fee schedule.

Pros

  • The Coinbase interface is sleek and easy to navigate for even first time users.
  • Coinbase boasts high liquidity across all listed trading pairs and assets.
  • Multiple security options for securing user assets.
  • Coinbase supports the purchase of crypto using 3D-secured credit cards.
  • Coinbase provides options for users to earn free crypto by learning about new projects.

Cons

  • Coinbase usually suffers a downtime when there’s significant Bitcoin price action.
  • The platform supports a limited number of cryptocurrencies.
  • Coinbase also shares user data with tax authorities.

Supported Payment Methods: Debit and Credit cards, Bank Transfer, Faster Payments, SWIFT, SEPA, Cryptocurrencies.

13. Bittrex

Bittrex

Country: United States

Bittrex launched in 2014 and is primarily designed for professional traders. If you’re looking for where to buy Bitcoin as a retail investor, then there are tons of other platforms that offer an easier route.

Features

  • Robust security features for securing client assets.
  • Deep liquidity across listed trading pairs.
  • Leveraged tokens tracking the price of several large-cap alts.
  • Affiliate program
  • Support for most of the widely traded cryptocurrencies on the market.
  • A mobile app for on-the-go traders

Fees: 0.2 Maker, 0.2 Taker.

See the full fee schedule.

Pros

  • Bittrex is a trusted and reliable crypto exchange for European customers.
  • New users receive $15 worth of Credits that can be used to offset trading fees.
  • Bittrex boasts a reliable customer support system.
  • Native support for EUR deposits and withdrawals.

Cons

  • Bittrex doesn’t support card deposits.
  • The platform isn’t suited to retail investors.

Supported Payment Methods: Bank Transfer, Cryptocurrencies.

Supported Payment Methods:

14. Binance UK

Binance UK coming soon

Country: United Kingdom

Binance UK aims to be the United Kingdom and Europe focused arm of leading cryptocurrency exchange, Binance. Expected to launch in the summer of 2020, the platform will not only be fully-regulatory compliant but will also benefit from Binance’s immense influence on the crypto space.

It will use Binance’s world-class trading technology and tap into the exchange’s unparalleled liquid order books. Binance UK will be operated by Binance Markets Limited, an entity seeking approval from the UK Financial Conduct Authority (FCA).

Features

  • Native support for GBP and EUR
  • Basic and Advanced trading interface.
  • Support for up to 65 cryptocurrencies at launch
  • Virtual bank accounts for easier deposits.

Supported Payment Methods: Faster Payments Service, SEPA.

Types of exchanges

There are primarily five types of cryptocurrency exchanges.

1. Instant Exchanges

These are crypto exchanges that primarily allow people to buy and sell cryptocurrencies instantly and via a single interface. The process is typically seamless and primarily supports card transactions.

Examples: Changelly, BC Bitcoin.

2. Centralised Exchanges

Centralised exchanges maintain centralised order books and serve as a marketplace for buyers and sellers to transact with each other without knowing themselves.

They also keep custody of the assets that are being traded and often serve as a central point for hackers to steal these funds. Users are advised to only leave on a crypto exchange an amount they are actively trading and can afford to lose. Not your keys, not your crypto!

Examples: Most of the exchanges that we covered in this article are centralised exchanges.

3. Decentralised Exchanges

As the name suggests, decentralised exchanges (DEXes) are platforms that maintain no centralised order books. Users can trade directly from their cryptocurrency wallets without delegating their keys to anyone.

Examples: Ethereum-focused Uniswap and Honeyswap.

4. Peer-to-peer (P2P) Exchanges

P2P exchanges are platforms that provide an escrow service for crypto buyers and sellers. Transactions are typically initiated by the interested parties while the exchange holds the funds until the payment is confirmed.

Examples: LocalBitcoins and Paxful

5. Derivatives Exchanges

Derivatives Exchanges offer products that track the price of cryptocurrencies, allowing investors to bet on price movements without holding the underlying asset. Popular crypto derivatives products include futures, options, and perpetual contracts.

Examples: BitMEX and FTX.

How to choose a Bitcoin exchange

As you may already guess, your preferred Bitcoin app would be one that offers the exact services you’re seeking. Here are other factors to look out for when choosing a Bitcoin exchange:

Ease-of-use

The best cryptocurrency exchanges prioritize the provision of a user-friendly platform. Therefore, your preferred platform should have an easy-to-navigate interface for user balances, deposit and withdrawal options, as well as other trading tools.

Security

Cryptocurrency exchanges are primary targets for hackers. Therefore, world-class exchanges implement the latest security standards to secure user assets and also provide users with security features. These may include two-factor authentication (2FA), and mandatory use of unique and strong passwords.

Fees

Experienced traders understand how much they can save by using exchanges that offer low trading fees and related bonuses. Therefore, before you choose a bitcoin exchange, ensure that they provide the best fees.

Supported Cryptocurrencies

If you’re not only into Bitcoin, then you probably need a Bitcoin trading platform that allows you to buy and trade as many altcoins as possible. Remember to beware of exchanges that list valueless tokens and always do due diligence before investing.

How to use a cryptocurrency exchange

The user interface on cryptocurrency apps may differ, but some features available on these platforms are permanent and thus, can be easily located by even first-time visitors. Therefore, you can take the following steps to use a cryptocurrency exchange.

  • Sign up with your email and complete email verification.
  • Go through the KYC process to verify your identity and increase transaction limits.
  • Enable 2FA and other security measures provided by the platform.
  • Access the Deposit button and use your preferred option (fiat or crypto)
  • For fiat deposits, you’re typically provided with a bank account to transfer funds. Once the deposit confirms, you will see them on your exchange account.
  • For crypto deposits, get the address for the asset you want to transfer and send funds from your external address. Wait for network confirmation to access the funds on your exchange account.
  • Locate the “Buy” button if you wish to sell fiat for Bitcoin or other supported cryptocurrencies.
  • For crypto-to-crypto trades, find the “Markets” or “Exchange” tab and select the suitable trading pair, e.g. BTC/ETH to sell Bitcoin for Ethereum.
  • Choose the order type and complete the trade.

F.A.Q

Are Deposits on Cryptocurrency Exchanges Insured?

No. Cryptocurrency deposits on exchanges are typically not insured like with traditional institutions. However, some operators like Coinbase insure client’s fiat currency deposits. Others like Binance also implement a self-insurance policy that allows it to pay back users if there’s a security breach.

Are All Crypto Trading Platforms Regulated in the UK?

No. All cryptocurrency platforms are not regulated. But you can determine that a platform is playing by regulatory standards if it requires you to submit KYC documents before you can access certain features. You can also check on the website for more information since most regulated bitcoin exchanges like to flaunt their regulatory credentials.

Does every major Bitcoin Trading Platform have a Mobile App?

Yes. Every large player in this field launched a crypto app, and all those apps are available for the UK-based users.

Do only large-volume Cryptocurrencies become listed on the Exchanges?

No. Most of the big platforms can also be used for altcoin exchange.

Conclusion

As promised, we covered in this article the twelve best cryptocurrency exchanges in the UK. We discussed the features, fees, pros, cons, and supported payment methods on these platforms, and hope that the provided information will help you make a great choice.

In the end, remember to keep custody of your crypto assets when possible, and implement the best security practices while using exchanges. If you do these, then you can focus on growing your crypto investments, and not scratching your head because of security failures.