Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Best crypto trading platforms UK

if you’re a UK investor and want to get started in the crypto market, you’ll need to make sure that you’re using the very best crypto trading platforms in the UK.

Our crypto researched have carefully analysed the ins and outs of the top UK crypto trading platforms to bring you clear and helpful recommendations. To ensure our reviews are as useful as possible, we’ve looked at many factors incuding supported coins, fees, trading tools, and regulations.

Key Points

  • A crypto trading platform facilitates the trading, purchasing, and sale of cryptocurrencies at low fees. 
  • Cryptocurrencies are considered a good investment if you want direct exposure to digital currencies. However, safer alternatives exist, such as purchasing stocks of companies exposed to cryptocurrencies. 
  • Cryptocurrencies, while a safe investment, are inherently volatile. 
  • When selecting a crypto trading platform, multiple factors must be considered. These include security, user satisfaction, features, fees, and user accounts. 
  • Each crypto trading platform has a different fee structure. Always ensure you understand how each platform charges you regarding transactions.

The Best Crypto Trading Platforms in The UK for 2024

We have scoured the online crypto marketplace for the best crypto trading platforms in the UK.

Below, the top UK online crypto trading platforms for 2024 are ranked:

  1. eToro Our choice for the best crypto trading platform in the UK
  2. KuCoin One of the best platforms to trade altcoins 
  3. Coinbase – An excellent platform for beginners
  4. Huobi – An excellent platform allowing users to earn interest 
  5. Crypto.com – One of the best crypto trading platforms with a user-friendly mobile app
  6. Binance – The world’s largest crypto trading platform
  7. Bitstamp – A platform that offers extremely low trading fees 
  8. OKX – A top crypto trading platform with minimal fees
  9. Margex – The best crypto trading platform to trade on margin 
  10. Kraken – One of the most secure and well-respected crypto trading platforms in the UK 

 If you are looking to invest in crypto, there are several ways to do so. The most popular is investing through a crypto trading platform. This guide will look at the best crypto trading platforms in the UK.

We will look at the pros and cons of each platform and how they compare with one another. We will also discuss how you can create a trading account and purchase crypto. Let’s get started.

The Top Crypto Trading Platforms In The UK Reviewed

In order to select the best crypto trading platforms in the UK, it’s important to consider what you need our of your platform broker. There are a ton of British trading platforms so it can be difficult to select one that matches your needs.

So, to ensure our readers have access to the best UK crypto trading platforms our research team has carefully analysed some of the top trading platforms in the UK to bring you a comprehensive list of the top crypto providers.

1. eToro – Our choice for the best crypto trading platform in the UK

eToro is one of the best crypto trading platform in the UK, offering users over 80 major cryptocurrencies. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and a host of others. Apart from the assets listed above, users can also invest in meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB), along with other meme tokens and altcoins.

Crypto Exchange eToro Crypto Trading Platforms UK

eToro enables users to access features such as copy trading, social trading, and smart portfolios. The platform is highly regulated, ensuring security and compliance with all KYC and AML requirements. Regulatory bodies include the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).

Assets Offered

eToro offers users a range of different asset classes. These include stocks, ETFs, forex, and cryptocurrencies. In fact, eToro has an interesting history with cryptocurrencies as it was one of the first platforms to offer cryptocurrency trading, making the asset class accessible to retail investors. The first asset offered on the platform was Bitcoin, after which eToro added several other crypto assets.

Today, it offers users fiat-to-crypto and crypto-to-crypto trading pairs, enabling users to invest using their local currency instead of US Dollars. EToro offers over 75 cryptocurrencies, including some of the most popular cryptos and meme coins. Some of the assets on offer include

Fees on eToro

eToro has made it a point to simplify fees, adding to user convenience. Traders must only pay the spread when trading, which starts at 0.75% for Bitcoin and 1% for other altcoins. Users can either purchase cryptocurrencies directly or trade them as derivatives on eToro. The platform supports several payment methods, including debit cards, credit cards, bank wire transfers, and e-wallets.

GBP deposits are charged at 0.5% and have a minimum deposit amount of $10 (£8). The platform also offers users a built-in crypto wallet, allowing them to store their assets seamlessly. eToro also does not charge users a deposit fee when funding their accounts in USD. However, UK-based users may incur a currency conversion fee.

Features

eToro allows users to track the best and worst-performing crypto assets daily. The platform is well known for its copy trading, social trading, and smart portfolio features. Copy trading allows users to mirror the trades of professional users on the platform and benefit from them. Users can select traders based on experience, trading goals, budget, and trading style. Some traders are conservative, focusing on a single asset, while others favor heavy diversification. The minimum fee required for copy trading is $200.

eToro Copy Trading

Now, let’s talk about Social Trading and Smart Portfolios. Social Trading allows users on eToro to interact with one another, view each other’s activity, discuss market developments, and “like” or “comment” on the activity of other traders. Meanwhile, Smart Portfolios allow users to invest in a basket of assets the eToro team manages.

Pros:
  • The best crypto trading platform in the UK
  • A highly competitive price structure
  • Highly regulated
  • Robust selection of cryptocurrencies
  • Proprietary social trading platform
  • Innovative features such as Copy Trading, Social Trading, and Smart Portfolios
Cons:
  • No support for third-party trading platforms
  • Limited customer support

Don’t invest unless you’re prepared to lose the invested amount. Crypto trading is high-risk investment.

2. Coinbase – An excellent platform for beginners

The next platform in our guide on the best crypto trading platform in the UK is Coinbase. The popular platform is one of the world’s leading crypto trading platforms and was founded in 2012 by Brian Armstrong and Fred Ehrsam. Since its founding, Coinbase has established itself in several countries and jurisdictions and has become a popular choice among new and experienced traders.

Coinbase Crypto Platform

New traders, in particular, are extremely fond of Coinbase, primarily due to its robust selection of cryptocurrencies and ease of use. The platform is accessible via desktop and web versions. Additionally, Coinbase offers a native mobile app compatible with Android and iOS. All platform versions allow users to purchase crypto instantly with a debit or credit card.

Unlike eToro, which charges a 0.5% fee on card payments, Coinbase charges users a standard transaction fee of 3.99%. Users can easily transfer funds from their UK bank accounts for free. Once the funds arrive, they can pay a standard commission of 1.49%. However, both options are quite expensive compared to other platforms on our list.

However, users are more than happy to pay higher fees to access Coinbase’s enhanced features, high security, and user-friendly interface. Regarding security, Coinbase stores 98% of client funds offline in cold storage. This significantly increases the security of client funds. The platform also makes it mandatory to set up two-factor authentication. Additionally, users must confirm their login session each time they sign in from a new IP address.

Cryptocurrencies Available

Coinbase offers users over 100 major cryptocurrencies, along with NFTs. Users can also earn a yield on specific cryptocurrencies. Some of the major cryptocurrencies supported on Coinbase are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Polygon (MATIC)
  • Solana (SOL)
  • Litecoin (LTC)
  • Ripple (XRP)
  • USD Coin (USDC)
  • Tether (USDT)
  • Dogecoin (DOGE)

Other Features

Other features on Coinbase include a comprehensive educational and research section. Here, users can access guides, videos, webinars, articles, and more to help them understand the crypto space and markets better. It also offers a dedicated wallet downloadable on your mobile device. A crypto wallet gives you complete control of your private keys and allows you to exchange tokens without leaving the app.

Pros:
  • Extremely user-friendly
  • Supports multiple payment modes
  • Known for its robust security
  • Rich educational and research section
  • Dedicated mobile application
Cons:
  • Customer support must get better
  • Expensive and complicated fee structure

Don’t invest unless you’re prepared to lose the invested amount. Crypto trading is high-risk investment.

3. Huobi – An excellent platform allowing users to earn interest

Huobi is one of the best and most popular cryptocurrency trading platforms in the UK. This trading platform is considered one of the UK’s best platforms for those looking to earn a passive income. Huobi’s crypto savings account allows users to deposit funds that can be used to facilitate loans. In return, users are given returns at an attractive interest rate, with many supported tokens paying an APY of over 100%.

Huobi Crypto Exchange

Huobi is also home to hundreds of markets covering many assets, including large-cap projects, ERC-20 tokens, and DeFi tokens. The platform is also extremely reasonable regarding fees, charging users only 0.20% at both ends of the trade. This is a highly competitive rate, especially considering the commission will be lowered if you increase your 30-day trading volume or hold and use the platform’s native token.

However, Huobi does not disclose what fee it charges to buy crypto in the UK using MasterCard or Visa.

Opening an account on Huobi is relatively straightforward, with users required to complete KYC verification before being able to proceed further. Once users and their accounts have been verified, they can deposit funds and begin trading. As mentioned earlier, the fees depend on the trading volume and platform being used.

When it comes to security, Huobi uses two-factor authentication to ensure the security of user accounts. Additionally, all user funds are stored in cold storage, significantly enhancing security. Huobi also has an excellent reputation when it comes to customer support, utilizing a support ticket system for users who may need help when trading. It also maintains a highly active social media presence on Twitter and Telegram, allowing users to reach out to them.

Pros:
  • The Huobi platform supports derivatives trading
  • Offers a rich product portfolio.
  • Offers users a crypto savings account
  • Low fees and commissions
Cons:
  • It needs better regulatory clarity
  • Fees on crypto purchases made using Visa and Mastercard are not clear

Don’t invest unless you’re prepared to lose the invested amount. Crypto trading is high-risk investment.

4. Crypto.com – One of the best crypto trading platforms with a user-friendly mobile app

Crypto.com is one of the best cryptocurrency trading platforms when it comes to newcomer investors in the UK, allows traders to conduct several financial activities, such as staking, trading, investing, and more. Users can also access cryptocurrencies, NFTs, and dedicated crypto wallets. Crypto.com offers users a vast selection of over 250 cryptocurrencies at reasonable fees and discounts.

Crypto Trading Platforms

The platform also offers a crypto wallet, a crypto debit card, a decentralized exchange, and an NFT marketplace. Its staking services allow users to earn interest of up to 14.5%. Crypto.com As of June 2023, Crypto.com had a staggering 80 million users, managing to onboard a significant number of users after gaining traction in 2021.

It offers something for everyone, from beginners to high-level advanced traders. Users can access Crypto.com through a web-based trading platform or through a dedicated mobile app. Regarding fees, users can buy and sell crypto with a 0.4% maker/taker fee. There is a fee of 0.075% on trades when the trader’s monthly trading volume is less than $250,000. High-volume traders can qualify for fees as low as 0 maker and 0.05% taker without holding CRO tokens. The platform also offers discounted fees if you hold at least 1000 CRO tokens in your crypto wallet.

Users can even stake their CRO tokens, with the platform offering around 34.6% APY. Crypto.com’s Earn feature allows users to earn interest on 50 cryptocurrencies, including stablecoins such as USDT and USDC.

Cryptocurrencies Available

Crypto.com offers users a vast selection of over 250 cryptocurrencies. Some of the significant assets available on the platform include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Polkadot (DOT)
  • Solana (SOL)
  • Chainlink (LINK)
  • Shiba Inu (SHIB)
  • Bitcoin Cash (BCH)
  • Stellar (XLM)
  • Litecoin (LTC)

Security

Crypto.com does not lag behind its peers regarding security, employing several methods to secure user accounts and funds. Measures taken by Crypto.com include address whitelisting and multi-factor authentication. It also proactively encourages users to use a strong password to protect their trading accounts. Nearly all customer funds are held in cold wallets, with robust compliance measures put in place.

Pros:
  • Crypto.com offers a free wallet app
  • Vast selection of over 250 cryptocurrencies
  • A dedicated and highly detailed educational section
  • Highly liquid platform
  • Strong security measures in place
  • Transparent platform with low fees and discounts
Cons:
  • Customer support can be better
  • Complicated user interface

5. Binance – The world’s largest crypto trading platform

Next on our list of the best crypto trading platforms in the UK is Binance. This provider is the world’s largest cryptocurrency trading platform by volume. Often described as a super-platform when it comes to crypto, Binance offers users an unfathomable number of cryptocurrencies, with new assets being added practically every week. No wonder the platform has a staggering 170 million users.

Binance

The platform was founded by Changpeng Zhao, who quickly established it as one of the leading crypto trading platforms in the world. Today, along with cryptocurrencies, Binance offers users staking, crypto loans, derivatives markets, futures, and options.

Now, UK-based users must remember a couple of things about Binance. While an excellent platform, Binance is only suitable for some investors in the UK. Since the FCA began investigating the platform, it can no longer support GBP deposits and withdrawals through bank transfers. While you can still purchase crypto, you must go via a third party, which is expensive.

Despite this shortcoming, Binance makes it to our list because it dwarfs the competition in terms of size, trading volume, and assets offered. Once your account is funded, you can access over 1000 digital asset pairs at a commission of 0.10%.

Additionally, if you are a frequent trader and trade using BNB tokens, Binance will further reduce the trading commission. Regarding tools, Binance is loaded with advanced charting and trading tools. This is ideal for experienced traders who want to perform technical analysis and execute complex trades. Additionally, traders can set up custom orders and receive pricing alerts through the dedicated Binance mobile app.

Another popular feature Binance offers is its crypto savings account. All users need to do is deposit tokens and start earning interest. However, Binance faces considerable regulatory issues in multiple jurisdictions, a factor users must consider when creating an account on the platform.

Security On Binance

Binance uses several standard security measures prevalent in the crypto ecosystem. This includes two-factor authentication, device management, and address whitelisting. However, as mentioned earlier, Binance has faced considerable regulatory hurdles in several jurisdictions, including the UK.

Cryptocurrencies Available

As mentioned earlier, Binance offers users access to hundreds of major cryptocurrencies. Major cryptocurrencies available on the platform include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Dash (DASH)
  • Cosmos (ATOM)
  • Polygon (MATIC)
  • Harmony (ONE)
  • USD Coin (USDC)
  • Tether (USDT)

Fees

Let’s talk about the fees on Binance. Fees on Binance are among the lowest in the crypto space and start at just 0.1%. Fees on the platform can be reduced further by using the native BNB token, giving users an additional discount of 25%, effectively lowering the fees to 0.075%. Traders can also enjoy discounts based on their trading activity.

When it comes to trading experience, users can access a host of trading tools. These include drawing tools, technical indicators, and customizable charts. Additionally, users can personalize their trading interface by incorporating data feeds, charts, and other indicators into their user interface. Binance also offers users access to a dedicated app available on Android and iOS.

Pros:
  • Supports several digital assets
  • Users can access an NFT marketplace, crypto staking, trading, and more.
  • Account opening is quick and simple
  • Low trading fees
Cons:
  • Customer support needs to be better

6. Bitstamp – A platform that offers extremely low trading fees

If users are on the lookout for a crypto trading platforms that has some of the lowest fees, then users are looking for Bitstamp. The platform is known for offering users access to cryptocurrencies at extremely low fees. It is one of the longest-running crypto trading platforms in the world, having been founded in 2011. In the years since its inception, Bitstamp has built a stellar reputation for itself, especially when it comes to user experience and safety.

Bitstamps Crypto Exchange

Regarding assets supported, Bitstamp offers UK residents access to over 80 major cryptocurrencies, with new assets added regularly. Bitstamp charges users a flat fee of 0.5% per crypto trade. This fee can be reduced to 0.25% if your trading volume exceeds $10,000 (£7975) monthly. Traders on Bitstamp can choose between its online trading platform, active trading platform, and dedicated mobile app.

The collapse of FTX and Celsius adversely impacted Bitstamp. As a result, the exchange disabled new orders and canceled all existing orders for FTT and CEL trading pairs.

Security

Bitstamp is well known for its robust security protocols. It holds a majority of user funds in cold wallets. In fact, 98% of customer funds are stored offline. Additionally, Bitstamp offers asset protection through BitGo insurance and encourages users to set up multi-factor authentication for additional security.

Cryptocurrencies Available

Compared to some of the other platforms mentioned on our list, Bitstamp’s offering is somewhat limited. However, it allows users to deposit and hold currencies such as the British pound, USD, and euro. Some of the major assets available on the platform are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Stellar Lumens (XLM)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • USD Coin (USDC)
  • Gemini Dollar 
  • XRP (Not in US)
  • Chainlink (LINK)
  • Tether (USDT)

Fees

Fees on Bitstamp are reasonable and start at 0.40% for regular crypto trades. The trading fees are reduced when trading volume exceeds $10,000 per month. Bitstamp also does not charge any fee if you trade up to $1000 in a single trade.

You can instantly purchase crypto on Bitstamp by using your credit or debit card. However, this incurs a 5% fee on each transaction. You can fund your account with GBP by using the Faster Payments Network. While this process does not incur any fee, withdrawals attract a £2 fee.

Pros:
  • A highly reputable and long-running platform
  • Low trading fees
  • No minimum deposit requirement
  • Very easy-to-use platform
  • No withdrawal fee
Cons:
  • Limited staking options
  • A limited number of coins are available

7. OKX – A top crypto trading platform with minimal fees

OKX is a trading platform that aims to enable users the possibility to buy and sell popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and even stablecoins. 

OKX Crypto Exchange

Previously, OKEx, the platform, rebranded itself and quickly established itself as one of the leading crypto trading platforms in the UK. OKX has become one of the best options for traders regardless of trading experience, thanks to its advanced trading features, ease of use, and rich educational section.

As one of the best crypto trading platforms in the country, OKX goes out of its way to ensure the security of user funds. The platform holds 95% of user funds in cold storage and holds the remaining 5% of assets in semi-offline wallets. OKX is one of the few crypto trading platforms that has not suffered a significant hack, so it’s safe to say this approach is working.

OKX was founded in 2017 and is headquartered in Seychelles while maintaining offices around the globe. The platform offers users access to over 300 major cryptocurrencies, with the most prominent ones being:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Avalanche 
  • Polygon (MATIC)
  • Polkadot (DOT)
  • Shiba Inu (SHIB)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Solana (SOL)
  • Ripple (XRP)
  • Yearn finance 
  • JUST
  • Tether (USDT)
  • USD Coin (USDC)

Fees

One of the platform’s main selling points is the low fees. With 0.1% maker and 0.8% taker fees, OKX is significantly cheaper than many other platforms in the market. The fees on the platform are generally based on account holdings, trade volume, and the currency traded. High-volume traders or those with significant OKB holdings are eligible for further discounts.

However, OKX does not disclose deposit fees, so investors must double-check payment modes before depositing or purchasing assets. Traders on OKX can also use their crypto as collateral and take out a fiat loan. This allows users to leverage their crypto and purchase without worrying about capital gain taxes. This gives UK-based investors a huge advantage.

Trading Experience

Let’s talk about the trading experience on OKX. The platform is well known for its simple trading interface, making it extremely popular with beginners. However, it is well known for its advanced trading features as well. Forms to make purchases are simple, making it easy for first-time buyers. Users can also swap currencies and stablecoins through the platform’s conversion form.

So, what does it offer for advanced users? Advanced users can access support for market, limit, and stop orders, advanced conditional trades, flexible market charts, and an order book for supported assets. Users can also customize the layout as per their preferences and convenience and implement different trading strategies when using the active platform. The platform also has an in-built trading bot that executes trades once the trade is specified.

In addition to all of the above, OKX offers a dedicated educational and resource section, making it easier for traders to learn and access information about trading. This is why OKX is widely regarded as one of the best crypto trading platforms in the UK and the world.

Pros:
  • A huge selection of educational material and guides.
  • A significant number of assets on offer
  • Low fees compared to other platforms
  • Users can avail of loans using their crypto as collateral.
Cons:
  • Customer support can be better

8. Margex – The best crypto trading platform to trade on margin

The Margex trading platform allows traders to trade and purchase Bitcoin and other cryptocurrencies with up to 100x leverage. The platform works similarly to other types of margin trading, thus avoiding the UK’s ban on crypto derivatives.

When opening a trade on the platform, traders can choose the leverage they require and view the price at which the trade will be liquidated. Traders can also view the maximum risk and make trading choices accordingly.

Margex Crypto Trading Platforms

Margex also offers users an advanced trading platform with tools for advanced trading. This includes technical indicators, price alerts, drawing tools, customizable charts, stop-loss orders, limit orders, etc. Users can also view the Bitcoin order book and all recently executed trades. 

Fees

Fees on Margex are competitive when compared with other platforms on our list. Users must pay a 0.019% fee when creating liquidity and a 0.060% fee when removing liquidity from the market. They can also go long or short with as little as £1.

Pros:
  • Low maker/taker fees
  • Offers advanced technical trading features
  • Minimum trade size of just £1
  • Users can take up to 100x leverage.
Cons:
  • Limited selection of trading fees
  • Withdrawals credited in Bitcoin only

9. KuCoin – One of the best platforms to trade altcoins

KuCoin is the penultimate platform in our guide on the best crypto trading platforms in the UK, and is headquartered in Seychelles and maintains regional offices in several regions. It is well known in crypto circles for its low trading fees, friendly user interface, and comprehensive crypto offering.

Kucoin Crypto Trading Platforms

The platform allows traders to buy, sell, and trade cryptocurrencies. Users can also access margin, futures, and P2P trading besides basic trading. Wait, there’s more! Users can also stake or lend their crypto and earn rewards. Thanks to its plethora of trade offerings, KuCoin has established itself as one of the largest crypto trading platforms in the world, with a presence in over 200 countries.

Trading Experience

KuCoin offers users a simple trading experience. Users on the platform can access their trading account via an online portal or a dedicated mobile app, available on Android and iOS. It does not skimp out on features, with both versions of the trading platform offering users the same features. Users on KuCoin can access markets, purchase, trade, sell, and lend their crypto, and more.

KuCoin supports four types of markets: market, limit, stop-limit, and stop-market. Additionally, margin, futures, and P2P trading are also available, along with staking and a recently introduced Trading Bot feature.

Fees On KuCoin

KuCoin utilizes a tiered maker/taker fee model where the trading fees vary between 0.005% and 0.1% depending on tier level. Despite this, fees on KuCoin are relatively low compared to some of the platforms mentioned in our guide. Users can get further discounts on fees based on their native KuCoin token balance.

Besides trading fees, KuCoin charges a withdrawal fee that depends on the asset being traded. These withdrawal fees are also subject to factors such as market performance. While deposits are free, users must note that KuCoin supports limited payment modes.

Security

KuCoin was the target of a significant exploit in 2020, which saw the platform lose $280 million worth of crypto from hot wallets. While the assets were recovered, a breach of this magnitude is something to be concerned about. KuCoin uses standard security features on its platform, which are complemented by multi-factor authentication and encryption. The platform also offers a separate password for trading. This is separate from the regular login password and mandatory when depositing or withdrawing.

This separate password gives users an added layer of security and is a unique feature among crypto trading platforms.

Pros:
  • Users can earn interest on their crypto
  • Low fees compared to most crypto trading platforms
  • A huge selection of 700+ cryptocurrencies
Cons:
  • Poor user reviews

10. Kraken – One of the most secure and well-respected crypto trading platforms in the UK

Kraken popular crypto trading platform was founded in 2011 and supports customers in over 190 countries. It is one of the world’s most well-respected crypto trading platforms and has been ranked #1 by research firm Certified. Kraken is also one of only a few platforms never to have suffered a major exploit.

Kraken Crypto Trading Platform

Kraken is extremely secure and beginner-friendly, making it quite popular among new users. It offers users two distinct trading platforms, Kraken and Kraken Pro. The Kraken platform is ideal for beginners and retail investors, while experienced traders can use Kraken Pro and take advantage of its advanced features.

Security

Kraken is extremely proactive when it comes to securing user accounts. Once your account is funded, Kraken allows you to add two-factor authentication. Users can create two-factor authentication codes for sign-ins, account withdrawals, deposits, and trades. While this may seem cumbersome, it takes security to the next level. Traders can also lock their Kraken account if they suspect that their account may have been compromised.

However, there have been some reports of hacked accounts on Kraken, with users claiming they lost all their assets and had no option to recover the stolen assets.

Cryptocurrencies Available

Kraken supports over 200 major cryptocurrencies. These include: 

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Polygon (MATIC)
  • Polkadot (DOT)
  • Uniswap (UNI)
  • Solana (SOL)
  • Sushiswap (SUSHI)
  • Tether (USDT)
  • USD Coin (USDC)
  • Cardano (ADA)

Fees 

Fees on Kraken vary depending on the platform being used and the trades being entered. Trades may be subject to spread fees, especially on the main platform. Instant purchases on Kraken are charged a percentage fee of the transaction and a spread. Any additional fees, such as credit card or transfer fees, are based on your funding method.

The Kraken Pro platform offers far lower pricing than the primary Kraken platform, with pricing based on the trading volume over the past 30 days. Generally, trades are subject to a 0.26% taker fee and a 0.16% maker fee.

Pros:
  • Supports hundreds of cryptocurrencies
  • High liquidity
  • Offers a simple user interface
  • Some reports of users losing funds due to hacks
Cons:
  • Higher fees when users don’t use Kraken Pro

What Is A Crypto Trading Platform?

A crypto trading platform or exchange is a platform that allows users to buy, sell, and trade cryptocurrencies. Think of a stock exchange but for cryptocurrencies. On these platforms, you can purchase major cryptos such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), and others. You can also purchase niche cryptocurrencies depending on your trading goals.

These platforms can be accessed through desktop apps, browsers, and dedicated mobile applications, giving traders access to a plethora of trading tools and features. Users are typically charged a marginal fee for transactions on these platforms based on the volume of transactions or the type of trade executed.

Before the advent of these platforms, the only way investors could get their hands on crypto was through mining or by P2P transactions executed online or offline. Today, there are hundreds of crypto trading platforms operating around the globe. However, this guide will only look at the best crypto trading platforms in the UK.

How Does A Crypto Trading Platform Function?

We know two major types of crypto trading platforms: centralized and decentralized. While our focus is primarily on centralized crypto trading platforms, let’s understand the difference between the two before discussing how they function.

A centralized crypto trading platform is controlled by a single entity that controls all transactions. Those using this type of platform can only execute trades and transactions approved by the platform. Popular centralized platforms include eToro, Binance, Coinbase, Gemini, OKX, and others.

UK Crypto Trading Platforms
Popular cryptocurrency coins on the background of the flag of United Kingdom (UK). Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Monero (XMR), Zcash (ZEC), Ripple (XRP), Digitalcash (DASH)

On the other hand, decentralized crypto trading platforms act as autonomous dApps that allow users to trade crypto without requiring a centralized authority. Unlike centralized platforms, decentralized platforms do not have strict KYC requirements, offering greater privacy and control over assets. Prominent decentralized platforms include Uniswap, PancakeSwap, Kyber, dYdX, and others.

So, how do these platforms work? Both centralized and decentralized platforms work based on providing a match for buyers and sellers. When users set up an account with the platform, it allows users to buy, sell, and trade crypto.

Pros & Cons of Crypto Trading Platforms

Now, let’s look at some of the pros and cons of each type of crypto trading platform.

Pros:
  • High liquidity
  • Fast transactions at low costs and increased security
  • Because KYC is mandatory, recovery of user funds is possible in the event of a hack or loss of funds
  • Hackers frequently target centralized trading platforms as they store user data across centralized servers.
Cons:
  • Some centralized crypto trading platforms have been accused of manipulating trading volume.
  • Hackers have also attempted to drain hot wallets belonging to such platforms.

Pros & Cons of Decentralized Crypto Trading Platforms

Now, let’s look at some of the pros and cons of decentralized crypto trading platforms,

Pros:
  • Decentralized crypto trading platforms offer users far greater privacy.
  • Users can maintain complete control of their funds.
  • There is less risk of hacks because of the nature of distributed hosting mechanisms.
Cons:
  • Users have no recourse in case funds are lost
  • Decentralized platforms often suffer from low liquidity

How to Choose the Best UK Crypto Trading Platforms

When it comes to selecting the best crypto trading platforms in the UK, there’s a lot of factors investors need to consider. To make this easier, we’ve included a few things to look out for when deciding which exchange is right for you.

Features

All crypto trading platforms offer a different set of features to their users. Some platforms provide very little when it comes to features such as trading tools or charts. On the other hand, platforms such as Binance offer users highly advanced trading tools, with features such as charting tools, technical indicators, custom orders, and more.

Mobile App

Investors increasingly prefer to trade using mobile apps instead of a laptop or desktop. A mobile app gives traders greater flexibility because they can trade on the move and quickly adjust trades. Always select a crypto trading platform with a dedicated, easy-to-use app with advanced trading features.

Tradable Assets

Most crypto trading platforms offer users a vast selection of assets. However, some offer users access to only major cryptocurrencies such as Bitcoin and Ethereum.

Wallet

A crypto wallet offers far greater control over your assets. However, whether you require a dedicated wallet often depends on personal preference. Generally, retail traders and beginners are more than happy to leave their assets on the trading platform. However, advanced traders would want complete control over their assets and private keys. Such traders often prefer platforms that offer a dedicated crypto wallet.

Payment Modes

Payment modes are a critical factor to consider when selecting a crypto trading platform. Most platforms support credit cards, debit cards, bank transfers, and e-wallets. You must also consider the fees levied on payments. For example, platforms such as Coinbase support debit and credit card payments but levy a fee of 3.99%. Meanwhile, platforms such as CEX and Coinjar levy a fee of 2.99% and 2%, respectively. Lastly, platforms such as eToro charge a fee of 0.5% for GBP deposits.

Customer Service

Customer service is another essential factor users must consider when selecting a crypto trading platform. The best crypto trading platforms will offer users access to a live chat feature, allowing them to connect with an agent instantly. Alternatively, some platforms also use a ticket feature, where users can raise a ticket about their concerns. However, this system is slow.

How to Use UK Crypto trading platforms

In this section, we will look at how to create an account with a crypto platform and start trading. Creating an account is relatively straightforward and takes minutes. For account creation, we will be using eToro as an example.

Step 1: Open An Account

The first thing you must do before you begin trading is register on eToro. To do this, go to the eToro website and click on “Create Account.” You will then be prompted to enter your personal information, email, and mobile number. eToro will then send a verification text on your mobile. Additionally, you will also have to verify your email address.

Step 2: Complete KYC

Once you have created your eToro account, complete your KYC. UK-based users on eToro can deposit up to €2,000 without uploading ID. However, withdrawals will be restricted until KYC is completed, so you should upload all required documentation as soon as possible.

Step 3: Deposit Funds

Once you have completed your KYC, you can deposit funds. eToro supports several payment methods, such as debit cards, credit cards, bank wire transfers, and e-wallets. Deposits using GBP attract a 0.5% fee, with a minimum trade requirement of £7.

Step 4: Search For Crypto Asset

Now that you have funded your eToro account, you can search for the cryptocurrency you wish to purchase. Search for the desired asset using the search bar at the top of your page. Once the selected asset appears, click on the “Trade” button.

Step 5: Buy Crypto

This is the last step of the trading process. After you select the asset you wish to trade, click on the “Trade” button and enter the amount of money you want to deposit to purchase your chosen asset. Enter the amount and click on “Open Trade” to make your first crypto payment.

Crypto Tax in The UK

There is no specific “crypto tax” in the UK at the moment. However, profitable crypto trading are subject to a Capital Gains Tax, similar to the approach taken in the equity markets. However, your crypto will also be subject to income tax, depending on how you use your assets.

Capital Gains Tax

Capital Gains Tax is levied when you sell your crypto for fiat currency. This tax applies to traders making withdrawals from crypto trading platforms. Additionally, this tax only applies if you have made a profit on your crypto. If you break even or make a loss, you don’t have to pay this tax.

ConclusionCrypto Trading Platforms In The UK

If you’re new to crypto or simply not up to date with the latest developments, it can be extremely to find the best crypto trading platforms in the UK. Trading crypto requires you to consider several factors, such as the asset you wish to purchase and the platform you must trade on.

In this guide, we reviewed ten platforms you can consider to begin your trading journey. We have looked at the pros and cons of each platform, their features, fees, assets offered, and how they compare against each other.

We found that eToro is the best platform to start your crypto trading journey, as it offers users a simple trading interface, advanced trading features, and access to several major cryptocurrencies.

eToro Logo

eToro Exchange

  • Free Copy Trading of Professional Traders
  • Best Place to Buy Crypto
  • Minimum Deposit only $10
  • Best Beginner Exchange
  • Open to UK & Worldwide
9.9

5 Stars

Don’t invest unless you’re prepared to lose the invested amount. Crypto trading is high-risk investment.

FAQs

What Is The Most Trusted Crypto Trading Platform In The UK? 

If your chosen platform meets all regulatory guidelines, it can be considered a trusted crypto trading platform.

Our guide found eToro to be the cheapest crypto trading platform in the UK in terms of deposit fees and trading fees. GBP deposits attract a 0.5% fee, while trades are charged a 1% fee.

You can purchase crypto from any UK-registered broker or trading platform. Always make sure the platform supports the assets you wish to trade.