Top Cryptocurrency Exchanges For UK Traders In 2022
The process of researching crypto exchanges to cater to your needs can be an arduous one. One needs to consider the markets the provider supports, the fee structure, and whether the platform is reliable and trustworthy.
There’s no doubt that there are some first-class reliable operators out there. But, finding the one that boasts the title of best crypto exchange UK, is no easy feat. This is especially true when there is so much competition, with exchanges trying to entice new customers and retain their existing ones.
Exchanges offer a range of bonuses, competitions and unique trading options to achieve this. As a trader, this presents an opportunity to capitalise on these kinds of offers and even get their hands on some free digital assets.
In order to make this process easier for our readers, we’ve compiled a comprehensive list of the very best crypto exchanges available in the UK. All of these platforms offer access to the markets through mobile apps and websites, allowing users to purchase a range of coins, including some of the most popular ones, such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Many of these exchanges are registered with the UK’s financial watchdog, the Financial Conduct Authority (FCA), which will help you to filter out the illegitimate providers and scam artists.
In order to find the best crypto exchange in the United Kingdom to help you achieve your investment goals, consider the three exchanges we’ve listed below.
eToro
eToro has been operating for many years, first going online in 2007 and offering customers the chance to buy and sell a range of popular digital currencies securely and safely through the site or innovative mobile trading platform. eToro is authorised by the FCA, which helps to ensure customers' funds are secure and any malpractice will be registered and customers rights’ protected.
The platform is easy-to-use and customers can be signed up and depositing funds into their trading accounts in five minutes. Funds can be deposited using a range of payment methods, with UK debit/credit cards giving customers instant access to funds.
The platform boasts over 70 cryptocurrencies, which can be traded using a variety of great eToro products; these include, a Smart Portfolio, Copy Trading tool, as well as other assets like ETFs, forex, commodities, and more. This may seem daunting, but eToro caters to the beginner user and has become the number one pick for new traders.
OKX
You may know OKX under the name OKEx, having gone under a recent rebranding this year. But, OKX customers are less than concerned with the name change, rather its advanced trading features and second-to-none trading experience. The company offers a range of unique trading options, including OKX derivatives trading.
The prospect of learning how to use advanced trading products is often off putting. But, OKX recognises this and offers a range of excellent educational materials to help customers understand how to take advantage of the advanced trading features. On top of that, customers will be happy to know their funds are safe and secure, with OKX holding 95% of client funds offline in cold storage, as well as offering semi-offline wallets to ensure customers have instant access to funds online.
OKX clearly tries to cater to the more experienced traders, with a focus on low trading fees. So, for those high volume traders, a 0.01% taker and 0.08% maker fee will be very appealing. Another great feature at OKX is the loan system, allowing customers to take temporary loans, meaning they don’t have to worry about capital gains taxes, which is a big draw for UK investors.
Crypto.com
A company that has really made a name for itself in the last few years, inking sponsorship deals with various teams, including an LA-based sports arena and becoming the principal cryptocurrency sponsor for the UFC. Boasting some 10 million users globally, this advanced trading app has quickly shot to the top of the rankings.
The app caters to beginners and veteran traders, with a range of advanced trading tools available via a handy mobile app. Crypto.com features a great “Earn” product, allowing customers to earn up to 14% APY on certain digital assets. Trading fees are also quite impressive, with 0.4% base taker and maker fees. The platform doesn’t offer as many cryptocurrencies as the other two platforms, but with 50 of the most popular currencies, they cover the most popular assets.
Last but not least, we should mention the Crypto.com Visa card, which is available to UK customers. The card is free for the first 30 days, but after that it will accrue a 2.99%. While this may seem excessive, it’s important to understand that this provider gives customers up to a staggering 5% spend reward.
Closing Thoughts
Having gone through this detailed guide into the top crypto exchanges operating in the United Kingdom, you’ll have a clear understanding of which providers may suit your trading needs. Overall, it’s imperative that you choose an exchange based on customer service, regulation, fee structure, withdrawal and deposit payment options, and the cryptocurrencies listed.
Cryptocurrency trading platforms have so many unique characteristics, it’s impossible for us to single out the best one. But, any of the four listed in our guide will meet your trading desires.
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