Top Crypto Trading Platforms UK
Our analysis of over 15 prominent cryptocurrency platforms has allowed us to identify the premier exchanges for UK investors. Our methodology takes into account several key factors including, but not limited to, the Financial Conduct Authority (FCA) regulation and licensing, the range of supported assets, the user experience, GBP deposit methods, fees, among others to accurately rank these platforms. Please refer to the following list for a detailed synopsis of the top five cryptocurrency exchanges in the United Kingdom.
1. eToro
eToro is the best crypto platform in the UK, providing investors with access to a vast range of assets, including cryptocurrencies, stocks, commodities, currencies, indices, and ETFs. The platform sets itself apart with state-of-the-art social trading features, such as Copy Trading, and a Virtual Account for users to refine their skills with £100K in demo funds.
As a UK-based and FCA-regulated broker, eToro boasts over 30 million investors in the UK, Europe, and worldwide, making it the largest in the country. It is the safest and most regulated platform to buy, sell, and trade digital assets. British investors highly favour eToro, thanks to its user-friendly and cost-effective GBP deposit options via Faster Payments Service, UK online banking services, Debit Card, and other popular methods. Furthermore, eToro offers competitive fees, with zero initial commissions and industry-leading spreads on assets.
- Fees: Deposits & withdrawals are completely free and crypto trades are subject to a 1% flat fee.
- Supported Assets: 92 cryptocurrencies, 3000+ stocks, 18 indices, 27 commodities, 49 fiat currencies and 300 ETFs.
- Regulation & Licensing: Regulated & Licensed by the FCA.
- Customer Support Options: 24/7 support via live chat, email & online ticketing system.
- GBP Deposit Methods: Bank Transfer, Faster Payments, Credit/Debit Card, eToro Money, Skrill, Neteller, Rapid Transfer & Trustly.
For more information on this exchange, please see our eToro Review.
2. Uphold
Based in London, Uphold is the second-best cryptocurrency exchange in the United Kingdom, offering over 250 digital assets to buy, sell, and stake through their Financial Conduct Authority (FCA) regulated platform. As an alternative to eToro, Uphold enables quick and affordable GBP deposits via methods such as Bank Transfer, Faster Payments Transfer, Debit Card, and Credit Card.
We have ranked Uphold as the top choice after eToro in the UK because they are among the few exchanges with an audited proof-of-reserves, which means they provide real-time data demonstrating how they protect customer funds and proving they are always fully backed 1:1. This level of transparency makes them one of the most secure and reliable exchanges in the nation.
- Fees: Free deposits on all methods except card, which is subject to a 2.49% fee. Crypto trading fees vary between 0.8% - 1.2%.
- Supported Assets: 210 cryptocurrencies, 40 shares, 4 precious metals and 27 fiat currencies.
- Regulation & Licensing: Regulated and Licensed by the FCA.
- Customer Support Options: 24/7 support via live chat and email.
- GBP Deposit Methods: Bank Transfer, Credit/Debit Card, SEPA, Google Pay & Apple Pay.
For more information on this exchange, please see our Uphold Review.
3. Bybit
Bybit is the largest non-KYC cryptocurrency exchange in the world and is available to use in over 180 countries including the UK. It is one of the only platforms that do not require users to verify their identities in order to deposit, withdraw and make trades via spot and derivatives markets. Additionally, it offers the most robust futures trading platform that supports leverage trading up to 100x on selected tokens. The exchange also provides over 10 different crypto staking options.
- Fees: Deposits and withdrawals are free and there are 0% fees on spot markets (limited time only, normal rate is 0.1%) and the maker/taker rebate is 0.01%/0.06%.
- Supported Assets: 400+ cryptocurrencies.
- Regulation & Licensing: Not regulated by any government authority (hence no KYC requirements).
- Customer Support Options: 24/7 support via live chat, email, ticketing system & phone.
- GBP Deposit Methods: Wise, Credit Card, Debit Card, SEPA, ZEN, Bank Transfer, Revolut, Fastpayment, Maestro & Google Pay.
For more information on this exchange, please see our Bybit Review.
4. Binance
Binance is the leading global cryptocurrency exchange that offers a platform for trading Bitcoin, Ethereum, and many other cryptocurrencies. The platform is known for its wide selection of cryptocurrencies, as well as its fast and secure transaction processing and user-friendly interface. Binance is available in over 130 countries, including the United Kingdom. It has the highest trading volume out of any digital-asset trading and investing platform
- Fees: Deposit & withdrawal fees vary depending on your method and are between 0.5% - 1.8%. Spot trading is 0.1% and the derivatives maker/taker rebate is 0.02%/0.04%.
- Supported Assets: 350+ cryptocurrencies.
- Regulation & Licensing: Regulated by the FCA.
- Customer Support Options: 24/7 support via live chat, email & online ticketing system.
- GBP Deposit Methods: Fasterpayments & Credit/Debit Card.
For more information on this exchange, please see our Binance Review.
5. KuCoin
KuCoin is a feature-rich cryptocurrency exchange that is available in over 160 countries including the UK. It offers spot, derivatives and margin trading. Additionally, you can stake hundreds of tokens on the exchange, as well as invest in NFTs. KuCoin provides one of the largest selection of tokens through its platform and currently supports over 600 on spot markets. In addition, there are over 2000 pairs to trade on futures/derivatives markets.
- Fees: Deposits & withdrawals are free and spot trading starts from 0.1%. The derivatives maker/taker rebate is 0.02%/0.06%.
- Supported Assets: 600+ cryptocurrencies.
- Regulation & Licensing: Not regulated in the UK, and does not require users to KYC.
- Customer Support Options: 24/7 support via live chat, email & through its online ticketing system.
- GBP Deposit Methods: Credit/Debit Card, Simplex, Banxa, Bank Transfer & Apple Pay.
For more information on this exchange, please see our KuCoin Review.
Is Crypto Investing in the UK Legal?
Yes, it is legal to buy and sell cryptocurrency in the United Kingdom. There are no laws that specifically prohibit individuals from buying and selling cryptocurrency in the country. However, you should be aware that cryptocurrencies are not legal tender in the UK, and there are some regulatory issues to consider when buying and selling them.
The Financial Conduct Authority (FCA) has issued guidance on the use of cryptocurrency in the UK, stating that it is not regulated by the FCA and that individuals should be aware of the risks associated with using it. In particular, the FCA has warned about the risks of fraud and money laundering associated with cryptocurrency. Outside of these general warnings, it is 100% legal to buy Bitcoin in the UK, as well as other tokens like Ethereum, Dogecoin and other crypto assets.
How is Crypto Taxed in the United Kingdom?
In the UK, crypto taxation varies based on the nature of the activities involved. For cryptocurrencies held as investments, capital gains tax applies upon disposal, taxing profits and potentially offsetting losses against other capital gains. Non-investment transactions, like purchasing goods or services, may incur value-added tax (VAT) on the transaction value.
Meanwhile, income tax applies to profits from mining activities as a trade or business. As crypto taxation can be intricate and dependent on individual circumstances, consulting a tax professional or HM Revenue and Customs (HMRC) for tailored advice is recommended.
How to Buy Crypto in the UK
If you're interested in buying cryptocurrencies in the United Kingdom, follow this clear, step-by-step guide to ensure a secure and legal transaction:
- Pick a regulated exchange: Choose platforms adhering to the UK's Financial Conduct Authority (FCA) or the European Securities and Markets Authority (ESMA) regulations.
- Set up and authenticate your account: Register with your email, generate a secure password, and finish the KYC procedure by submitting required identification and proof of residence.
- Add GBP: Load your account using BACS, Faster Payments, CHAPS, bank transfers, or debit/credit cards.
- Buy cryptocurrency: Decide on the digital currency and quantity in GBP or crypto, then approve the transaction.
- Protect your holdings: Relocate your digital assets to a private wallet for improved security.
By following these guidelines and selecting a reputable, regulated exchange, you can safely and lawfully obtain cryptocurrencies in the UK.
Bottom Line
In conclusion, investing in Bitcoin and other cryptocurrencies in the United Kingdom is both legal and accessible. The key to a safe and seamless investment experience is choosing a regulated platform that complies with the guidelines set by the Financial Conduct Authority (FCA). We recommend eToro, Uphold, Bybit, Binance, and KuCoin as some of the most trustworthy and compliant platforms for UK residents. They each offer a diverse range of assets, user-friendly experiences, and multiple GBP deposit methods.
It's also crucial to understand how crypto taxation works in the UK, with capital gains tax and value-added tax (VAT) potentially applying. As with any investment, it's essential to stay informed and make decisions that align with your financial goals and risk tolerance.
