Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more. Based in the USA, Coinbase is available in over 30 countries worldwide. Fortunately, Bitcoin trading in the UK is absolutely legal and unrestricted. All you need is a trustworthy broker and the minimum amount of trading required. The minimum deposit and trading amount varies enormously depending on the type of platform. Our trading platform has been voted the best in the UK. 2 Web-based platform Take control of your bitcoin trading with our clean deal ticket, clear price charts and in-platform news and analysis.
Uk based bitcoin trading platformThe Best Cryptocurrency Exchanges in the UK - Comparison
Binance has become the most popular exchange in the world for good reason, it provides an excellent platform that is easy to use with the lowest fees in the industry. As for supported cryptocurrencies, they have over 15 coins at the moment, so you should find what you need if you decide to go with them.
Kraken was founded in making it one of the oldest exchanges currently on the market. When it comes to security, check out our separate article on the safety of the platform. They support a good variety of Cryptocurrencies and their exchange is reliable. Bittrex is a very well known exchange based in the US, it was founded by an excellent team of security engineers from some of the largest companies in the world.
Bittrex is fairly good for beginners but it lacks on a number of features which other exchanges provide. Bitstamp is a really old exchange, having founded in predominantly focused on the Europe market.
Disclaimer: Digital currencies and cryptocurrencies are volatile and can involve a lot of risk. Their prices and performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided. Now that you know the two main types of exchanges you will encounter, you next need to know what to look for when picking a specific exchange.
Here are some factors that you should definitely keep in mind when comparing different types of exchanges you might want to use. The growing interest in Bitcoin prompted the emergence of digital marketplaces across the world where traders could buy, sell, or trade these coins with fiat currencies and later on other cryptos.
We advise traders to look for a simple clutter-free platform, that instead of investing in altcoin support and advanced tools and features, focuses on facilitating quick and cheap Bitcoin transactions. More and more traders turn to altcoins these days, mostly because they like speculating on the price of these volatile coins and making small investments.
The next step is finding a reliable altcoin exchange that has large trading volumes and liquidity so that it can withstand potential altcoin flash crashes.
Again, our number one recommendation is Binance because it offers more than 1, altcoins for the adventurous traders among you. Apart from Binance, traders can also try CEX.
We recommend Kraken to experienced traders who would feel comfortable with the advanced interface and crypto jargon. Sometimes, looking into the fee schedule of a crypto exchange can help you make a better assessment and decide whether it works with your investment plan or not.
This means that you need an exchange with a lower starting fee as opposed to one that takes into consideration the trading volume to adjust its fees.
Binance has the cheapest option for crypto to crypto trading because its fees start as low as 0. Incredible, right? Based in the UK, Coinfloor has built a solid reputation among high volume traders for its affordable fees. The fees vary between 0. For example, volumes over , GBP qualify for a 0.
The largest crypto exchange is the one with the largest daily trading volume. If you visit the official website of any crypto exchange, you would typically find a box that counts the daily trading volume and website visits. Unfortunately, most of the data is either false or has been manipulated before with wash trading. One of the few reliable organizations that still try to combat and filter the spread of fake information, as well as to bring some more frankness to the industry, is the Blockchain Transparency Institute.
Coinmarketcap has live statistics of which exchanges have the largest trade volumes which is a good place to start. These trustworthy sites have found out that Binance and Coinbase have the highest number of website clicks.
They have been continually praised for their efforts to popularize crypto trading in the UK and make it seem less intimidating for novices. They offer account customization, live market data, and charts for market analysis. Are you more interested in trading cryptocurrencies rather than making a simple buy or sell order? First of all, you need a variety of digital assets to make your trading more versatile. You want to choose a platform that offers advanced features such as margin trading, limit and stop offers, over-the-counter OTC services, different market charts, customizable portfolio, futures, etc.
Most of these features will be available to you if you create an account with Binance. For traders drawn to futures investments, Kraken offers up to 50x leverage on returns. It has the same OTC option as Binance, with one-on-one service for high volume traders. One of the biggest challenges for crypto exchanges is dealing with hacker attacks and illegal trading.
Investing in sophisticated cybersecurity measures is crucial in the development of any online platform that stores sensitive data and provides financial services. To elevate the security standards, reliable crypto exchanges obtain licenses and register as money businesses with local or international financial regulators based on the markets and countries they provide services for. Current regulatory frameworks require mandatory KYC checks for every single customer, monitoring and identifying suspicious trading patterns, reporting illegal activity, conducting third-party audits, mandatory two-factor authentication method, etc.
Our candidates for the safest crypto exchange that have shown a satisfying level of security with consistency are Coinburp, Binance, and Coinbase. The three of them apply encryption protocols to sensitive data and keep the funds in air-gapped cold storage.
By now, you already know that Binance has the highest trading volumes which means that their SAFU reserve vault could cover any unfortunate money losses. As we said in the previous section, KYC checks are mandatory on almost every well-known and respectable exchange.
However, not all traders approve of this verification method. If you belong to this group and privacy is of key importance to you as well, you definitely want to learn about the best platforms that require zero documentation to let you purchase cryptocurrencies — Paxful and LocalBitcoins.
These exchanges only ask for your email address to let you access their trading platform and search for a matching order. They let buyers and sellers find each other and agree on the payment method that works best for them. Some users might ask to see your ID before completing the deal, but it will be up to you to accept or deny their offer. Another platform to have in mind if you want to avoid disclosing your identity is Binance.
If you want to purchase cryptocurrency with cash, the first option is to look for a Bitcoin ATM if there happens to be one near you. You see, the cryptocurrency market consists of thousands of instruments and most of them are hard to analyze making them more or less impossible to trade efficiently. As mentioned, when trading CFDs, your job is to predict whether the value of an instrument will increase or decrease. That means that the best cryptocurrency platforms make it just as easy to go long or short.
Most cryptocurrency exchanges, on the other hand, does not make it as easy to go short, meaning you lose out on half of your opportunities.
One thing that defines an online broker is the option to use leverage and margin, which helps you increase the exposure for each position you open, thus allowing you to increase your potential profits.
Today, leveraged CFD trading has been limited in Europe and you can only use a leverage on cryptocurrencies. Just keep in mind that leverage and margin work both ways and while it can increase your potential profits, it can also increase your potential losses. Therefore, leverage should always be used carefully. One of the biggest differences is that when you buy Bitcoin or any other cryptocurrency with an exchange you will actually own that cryptocurrency and you also have to store it somewhere safe.
The contract will state how much the currency is worth at that time, and once you sell it your profit is determined by the spread. Another key benefit of trading is that the brokers you will be trading with are regulated by the FCA and thus safe to trade with compared to exchanges that, in some cases, are unsafe and unreliable. Update : ESMA updated their guidelines on leveraged trading for cryptocurrencies.
Pre-update leverages as high as was allowed. Currently, regulated cryptocurrency brokers are only allowed to offer a leverage on crypto.
With that said, there are a few cryptocurrency exchanges that are awesome. And we are going to take a look at them here. By now, you should have a solid idea of what a cryptocurrency broker is and how you can use these broker to trade on the crypto market. The last step is to find a broker that you like and register an account with it.
In case, you want to start trading cryptocurrencies with a top broker, this is how you do it. Pro tip: All the recommended cryptocurrency brokers offer a demo account which is an exact replica of a regular trading account with the only difference being that you trade using virtual money.
These accounts serve two different purposes. Firstly, a cryptocurrency demo account can be used to test the broker and the provided tools to ensure that you feel comfortable with them. Secondly, demo accounts are perfectly suited for training and strategy development for both beginners and experienced traders. Generally speaking, you can open a demo account without registering and verifying your identity meaning you can use them to compare brokers and test them before you sign up for a real trading account.
What about cryptocurrency exchanges and wallets? Even though we always recommend that you trade your cryptos using an online broker, there are some limitations to that. Unlike a cryptocurrency broker, an exchange allows you to buy any cryptocurrency you want to either keep as an investment, trade with other instruments, or store and use as a form of payment.
Below, we have listed the best cryptocurrency exchanges in the industry for your convenience. Instead, you need to store them and your private keys in a safe wallet or preferably a cold storage offline wallet such as the Trezor.
How can I buy Bitcoin and other cryptocurrencies in the UK? Use one of the following exchanges: 1. Binance is the king of cryptocurrency exchanges and currently the largest exchange based on trading volume. The service was launched in July , and it only took days for the exchange to become the biggest in the world. Binance has a great reputation in the industry and offers one of the largest selections of tradable assets, making it a great choice for everyone.
They also offer state of the art trading tools and a platform that is as easy to use as it is efficient. In terms of safety, Binance is fairly safe, and they rarely experience any downtime.
Number of listed cryptocurrencies: as of October Safety: Fairly safe Fees: Competitive fees. Bithumb is a South Korean cryptocurrency exchange based in Seoul and currently the second largest exchange based on trading volume. This cryptocurrency exchange currently lists 50 markets and is known to be safe and fair.
However, Bithumb is also known for listing assets at much higher rates than elsewhere in the world. Number of listed cryptocurrencies: 50 as of October Safety: Okay Fees: Fees are pretty fair compared to some other top exchanges 3. OKEx is a global cryptocurrency exchange based in Hong Kong that currently offers markets. Similar to Binance, OKEx has moved parts of their business to Malta in order to enjoy better regulation and easier laws, as well as the opportunity of offering a safer service to the world.
OKEx is a great service, and to us, there is no doubt that this is one of the best cryptocurrency exchanges in the world. Number of listed cryptocurrencies: as of October Safety: Okay but could be better, certain parts of the exchanges have proven to be sensitive to breaches Fees: Fees are good 4.
Huobi is a cryptocurrency exchange that was launched in China but quickly expanded to Japan and the United States as well. The exchange is now run and operated from Singapore.
As of August , Huobi is a publicly traded company on the Hong Kong exchange meaning it operates under stricter regulation than most other exchanges. Trading with Huobi is a pleasure, and the trading platform makes this one of the top cryptocurrency exchanges in the world.
Number of listed cryptocurrencies: as of October Safety: Huobi is a listed company meaning it is monitored more than others, although the exchange has been hacked in the past Fees: Fees are fair for the industry.
That is a very good and highly debated question with no clear answer. In short, the answer is yet, the right cryptocurrency exchange is usually safe. However, the real and long answer is more complicated than that. At the moment, the problem in terms of safety with the cryptocurrency industry is that it lacks regulation. For example, the CFD and forex industry are regulated meaning there are impartial entities that oversee the industry and make sure that rules, laws, and safety is upheld. In fact, every serious and trustworthy broker in that industry has a license to offer their services.
The cryptocurrency industry is different, and there is no license, and so far there is no real regulation or control from agencies and such. Over the last couple of years, there have been several cyber attacks directed towards exchanges all over the world, and while most of them have been stopped before they inflicted any damage, some did manage to succeed. In the cases where hackers actually go into the system, cryptocurrencies worth several million dollars has disappeared.
And this has created a new issue. Since there is no regulation regarding how exchanges should act when there is a breach, we have witnessed two scenarios. In most cases, the exchange promises to pay customers back for lost funds, either in full or partially. In other cases, the exchanges have decided not to pay customers back.
Though the FCA regulates some crypto-assets in the U. However, the U. But it looks like the FCA could bring Bitcoin under its umbrella this year. Glen further added that the U. So a move aimed at providing investor protection can boost Bitcoin demand in the U. It is very easy to buy Bitcoin in the U. Our guide to buying Bitcoin in the U. More importantly, the U. In fact, there are quite a few businesses ranging from web hosting providers, gift providers, car leasing companies, and even a law firm where you can spend your Bitcoin in the U.
You can even take sushi classes at one of the several Your Sushi locations spread across the U. Of course, owners of Bitcoin in the U. Bank of England governor Mark Carney has warned that the British pound could lose a quarter of its value in case of a no deal Brexit an event where the U. This has triggered more interest in an alternative currency such as Bitcoin as its value is not controlled by any government.
Cryptocurrency exchange Binance, which recently started its operations in Jersey — a self-governing dependency of Britain — is overwhelmed with registrations on the platform as it allows users to trade pounds and euros with Bitcoin. In the end, it can be concluded that the state of Bitcoin in the U.
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