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Best Crypto Exchanges in the UK

Best Crypto Exchanges in the UK

Find out which platforms rank as the best crypto exchanges in the UK, offering top-notch security, regulatory adherence, and variety.

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Summary: In the UK, choosing the right cryptocurrency exchange is crucial, particularly one that complies with the Financial Conduct Authority (FCA) standards. The top exchanges in the UK make it easy to deposit British Pound Sterling (GBP) through various methods such as local bank transfers, BACS, Faster Payments, and debit or credit card payments.

Our analysis of the top 5 cryptocurrency exchanges available to UK users highlights those recognised for their reliability and trustworthiness. Here's a brief rundown of these platforms and what sets them apart:

  1. eToro - Best Overall Crypto Exchange in the UK
  2. Uphold - Top Choice for Beginners in Crypto
  3. Bybit - Best for Derivatives Traders in the UK
  4. Gate.io - Top Choice in the UK for Altcoins
  5. OKX - Best for DeFi Compatibility
Best Crypto Exchange in the UK
5.0 out of 5.0 by Datawallet.
eToro stands out as the best platform in the UK due to its FCA-regulation, range of over 4,500 assets, innovative trading features, user-friendly GBP deposit options, and industry-leading fees.
GBP Deposits
Bank Transfer, Faster Payments, Credit & Debit Card and more.
Supported Assets
4,500 Cryptos, Stocks, ETFs, Commodities & more.
Licensing and Regulation
Licensed by the Financial Conduct Authority (FCA) in the UK.

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Best Cryptocurrency Exchanges in the UK

After evaluating over 15 crypto platforms, we've singled out the best regulated exchanges for UK investors. Our review focuses on FCA compliance, asset variety, user interface, GBP deposit methods, and fee structures. This careful analysis helps us rank these platforms accurately. Check out our list below for a detailed look at the top five cryptocurrency exchanges in the UK.

Exchange
Cryptocurrencies
Trading Fees
Deposit Methods
Key Features
eToro
4,500+ (Crypto, Stocks & ETFs)
0% Fees and Variable Spread (1% Average)
Bank Transfer, Faster Payments, Debit Card & More
Multiple Asset Classes & Most Regulated
Uphold
250+
1% Fee and 1% Spread
Debit Card, Credit Card, Google Pay & More
Staking, Gold & Silver Investing & More
Bybit
1,000+
0.01% Maker Fee and 0.06% Taker Fee
Bank Transfer, Debit Card, Credit Card & More
Staking, Futures, Options, Lending & More
Gate.io
1,700+
0.1% Maker Fees and 0.2% Taker Fees
Bank Transfer, Debit Card & Credit Card
Widest Altcoin Variety, Futures, Options & More
OKX
300+
0.1% Trading Fee and 0.1% Spread
Bank Transfer, Debit Card & Credit Card
Options, Futures, OKX Wallet, DeFi Apps & More

1. eToro

eToro is the premier cryptocurrency exchange in the UK, renowned for its unwavering reliability and extensive selection of financial instruments. It provides access to a broad spectrum of over 4,500 assets, including not just cryptocurrencies like Bitcoin and Solana, but also stocks (such as Coinbase or MicroStrategy), commodities, and ETFs, with notable examples being Bitcoin ETFs like IBIT by iShares (Blackrock) and ARKB by ARK Invest. This diversity allows investors to expand their portfolios within a single, secure, and strictly regulated environment.

eToro's commitment to regulatory compliance is exceptional, with registration under the UK Financial Conduct Authority (FCA). This ensures adherence to the stringent financial standards required in the UK, providing a safe trading environment for its users. With a community that spans over 30 million users globally, eToro is highly regarded for its trustworthiness and comprehensive financial offerings.

  • Fees: The platform employs a variable fee strategy, mainly based on the spread, averaging around 1%, with no upfront commissions.
  • Supported Assets: eToro supports over 4,500 assets, including cryptocurrencies, stocks, ETFs, and more. Highlights include crypto-related stocks like Coinbase and MicroStrategy, and mining companies such as Marathon Digital Holdings.
  • Regulation & Licensing: Registered with the Financial Conduct Authority (FCA), eToro meets strict regulatory standards.
  • GBP Deposit Methods: eToro facilitates a variety of deposit methods, including Bank Transfer, BACS, Faster Payments, Debit Cards, and more, making transactions straightforward and convenient for users.
Top Crypto Exchange in the UK is eToro

2. Uphold

Uphold stands out as a top pick for those just starting their journey in cryptocurrency within the UK, thanks to its operations based in London. Serving a vast community of over 10 million users across more than 150 countries, Uphold offers an intuitive platform that's perfect for beginners. It boasts a varied selection of over 250 digital assets and simple staking options with up to 25% APY on 30 different cryptocurrencies, making it an attractive option for those new to crypto investing.

Dedicated to transparency and reliability, Uphold meets the rigorous standards of the UK's Financial Conduct Authority (FCA). It also offers audited proof-of-reserves, assuring users that all digital assets are backed 1:1, a vital factor for earning the trust of beginners. With its user-friendly design on both web and mobile platforms, Uphold makes investing straightforward for novice users.

  • Fees: Uphold maintains a transparent fee structure that includes a 1% trading fee and a 1% spread fee.
  • Supported Assets: It offers over 250 digital assets, spanning precious metals to fiat currencies.
  • Regulation & Licensing: Regulated by the FCA, Uphold ensures a safe and compliant platform for UK users.
  • GBP Deposit Methods: Offers a variety of deposit methods, including bank transfers, credit/debit cards, Apple Pay, and Google Pay, accommodating a wide range of preferences.
Uphold

3. Bybit

Securing the third position in our UK rankings, Bybit stands out as an adaptable choice for British investors. The platform caters to a broad spectrum of users, especially those with an interest in options and perpetual futures contracts. Featuring an extensive array of over 1,000 digital assets and efficient GBP deposit methods, Bybit effectively meets the varied needs of the UK market. Its user-friendly design and robust security measures are widely acknowledged.

Bybit goes beyond mere cryptocurrency offerings. It includes futures contracts with up to 25x leverage and a burgeoning NFT marketplace, thus broadening the trading horizons for crypto enthusiasts. Its competitive fees, with maker fees at just 0.01% and taker fees at 0.06%, along with compliance with stringent European regulatory standards, position Bybit as a reliable platform for traders.

  • Fees: Attractive fee structure featuring a maker fee of 0.01% and a taker fee of 0.06%.
  • Supported Assets: Broad range of over 930 digital assets, encompassing a variety of altcoins and derivatives.
  • Regulation & Licensing: Internationally compliant, but UK traders should note the lack of FCA licensing.
  • GBP Deposit Methods: Multiple deposit options available, including Faster Payments, bank transfers, debit and credit cards, facilitating smooth GBP transactions.
Bybit UK

4. Gate.io

Ranked as the fourth top exchange in the UK, Gate.io appeals particularly to those with an eye for a wide array of altcoins. Despite not being directly overseen by the UK's Financial Conduct Authority (FCA), it's fully open to UK investors. The platform stands out for its vast selection of over 1,700 cryptocurrencies, making it a prime spot for traders looking for diversity in their digital asset portfolios.

Gate.io impresses with its significant 24-hour trading volume, often surpassing $5 billion, and a global community of more than 14 million users. Its stature in the global crypto market is enhanced by innovative features like automated trading bots and a dedicated section for emerging startups, providing unique investment opportunities. The platform also hosts special trading events and competitions, designed to spark the interest of traders.

  • Fees: Gate.io maintains competitive trading fees, with rates starting at 0.1% for maker orders and 0.2% for taker orders.
  • Supported Assets: It features an expansive library of over 1,700 digital assets.
  • Regulation & Licensing: While headquartered in the Seychelles and not directly regulated by the FCA, Gate.io is accessible to UK investors.
  • GBP Deposit Methods: Gate.io offers various deposit options, including bank transfers, debit cards, credit cards, and more, to suit different user preferences.
Gate.io

5. OKX

OKX, securing the fifth position in our rankings for the United Kingdom, is notable for its comprehensive range of trading options. With an extensive suite of over 300 crypto assets, OKX offers more than just spot trading; it's a preferred platform for futures, options, and margin trading. Its standout feature is the innovative OKX Wallet, enabling users to interact seamlessly with popular layer 1 and layer 2 blockchains, including emerging technologies like Ordinals on Bitcoin.

Although OKX is based in Seychelles and operates under its local regulations, it is fully accessible and has garnered a strong following among UK investors. The platform is particularly suited for institutional traders and DeFi enthusiasts, thanks to its advanced API capabilities and direct compatibility with popular web3 protocols like AAVE, Uniswap and liquid staking platform such as Lido and Jito.

  • Fees: OKX presents a 0.1% maker fee and a 0.2% taker fee, alongside a standard 0.1% fee for spot trading.
  • Supported Cryptocurrencies: A diverse selection of over 300 digital assets, including futures and leveraged trading options.
  • Regulation & Licensing: While headquartered in Seychelles, OKX is accessible in the UK and aligns with European financial standards.
  • GBP Deposit Methods: Offers several deposit methods popular in the UK, such as Faster Payments, bank transfers, debit, and credit cards.
OKX

Is Crypto Regulated in the UK?

In the UK, cryptoasset regulation is tailored to balance innovation with consumer protection and market stability. The government, aiming to establish the UK as a global cryptoasset hub, formed the Cryptoassets Taskforce in 2018, comprising HM Treasury, the Financial Conduct Authority (FCA), and the Bank of England. The Financial Services and Markets Bill, enacted in June 2023, broadly defines cryptoassets, including security tokens, exchange tokens, utility tokens, and NFTs, each serving different purposes.

Cryptoasset regulation in the UK is integrated into existing financial regulatory structures rather than having a separate framework. It operates under two main regimes: one focused on anti-money laundering, and the other depending on whether a cryptoasset qualifies as a “specified investment” under the Regulated Activities Order. The promotion of crypto products is also regulated, particularly under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, if considered “controlled investments” or activities.

The FCA plays a central role in regulating the UK's cryptoasset sector, primarily overseeing anti-money laundering measures among cryptoasset firms and regulating security tokens. Additionally, the UK Advertising Standards Agency (ASA) closely monitors the marketing of cryptoassets to consumers. This regulatory approach reflects a commitment to fostering technological innovation while ensuring consumer safety and maintaining market integrity.

How is Crypto Taxed in the UK?

Cryptocurrency in the UK is subject to taxation, treated similarly to shares. HM Revenue and Customs (HMRC) does not recognize crypto assets as currency, applying tax rules similar to those for shares. Crypto transactions may be liable for Capital Gains Tax or Income Tax, depending on the nature of the transaction. For capital gains, if they exceed the annual tax-free allowance (reduced to £6,000 for 2023-2024), a tax rate of 10% or 20% is applied based on the individual's income tax band. Additionally, income generated from crypto over the personal allowance is taxed at rates ranging from 20% to 45%.

HMRC has the capacity to track cryptocurrency through data-sharing agreements with UK exchanges, possessing transaction data dating back to 2014. They are intensifying efforts to identify unreported gains, especially with new international reporting frameworks like CARF on the horizon. Taxpayers are urged to voluntarily disclose unpaid taxes on crypto, with potential penalties for non-compliance. The tax liability period depends on the taxpayer’s diligence in reporting: four years for reasonable care, six years for inadequate disclosure, and up to 20 years for deliberate misreporting.

Bottom Line

In wrapping up, choosing the right crypto exchange in the UK hinges on finding platforms compliant with the Financial Conduct Authority's (FCA) strict standards. Our review highlights the top exchanges: eToro, Uphold, Bybit, Gate.io, and OKX, noted for their trustworthiness, regulatory compliance, and diverse offerings.

These platforms serve all types of investors, offering a safe space for GBP transactions and prioritizing user security and transparency. This guide aims to help UK investors select exchanges that meet their trading needs while upholding top security and regulatory standards.

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