Crypto ExchangesReview

Best Cryptocurrency Exchanges in the UK (2021)

If you are one of the roughly 4 million crypto traders in the UK, you may be wondering what are the best cryptocurrency exchanges in the UK? This article can help you find out. 

Overall, crypto awareness and adoption in the UK are fairly high. In fact, a survey shows that over 85% have heard about Bitcoin or Ethereum in the region. In line with this, cryptocurrency exchanges in the UK generally need to register with the Financial Conduct Authority (FCA) to operate.

Among the UK’s crypto regulation is the ban on the sale of crypto-derivatives and exchange-traded notes (ETNs) to retail consumers. This is due to the unreliable basis for valuation and extreme volatility in cryptocurrency price movements.

How to Choose the Best Cryptocurrency Exchanges in the UK

Reputation

When choosing the best crypto exchanges in the United Kingdom, the reputation of the platform is the most important factor to consider. Hence, those that have been operating for more than 5 years would have established more credibility than fairly new exchanges.

To learn about a cryptocurrency exchange’s reputation, you can visit trusted crypto market websites and read reviews. Moreover, other public cryptocurrency forums such as Bitcointalk and Reddit can have information on traders’ experience on a specific exchange.

You can also check the crypto exchange’s history. In reality, various crypto exchange hacks have happened through the years. Therefore, it would be best to consider what action has been done to cover for any damages caused. Aside from that, know what precautionary measures do they have to avoid cybersecurity threats.

Fees and Payment Methods

Before conducting any type of transaction within a crypto exchange in the UK, you must be aware of all the fees the exchange charges. For this reason, fees can vary considerably depending on what crypto exchange you use.

Alongside this, payment methods in crypto exchanges vary too. Some support buying bitcoin with a debit card while others allow crypto-to-crypto exchange only. Can you use PayPal to buy crypto or would you have to pay for a bank wire transfer instead?

Also, some crypto exchanges do not accept fiat currencies. Thus, it is quite inconvenient to buy cryptocurrencies due to limited payment methods. It is indeed necessary to check which exchange has your preferred payment method and fees to avoid any delays and problems.

Exchange Rates

Different crypto exchanges can also offer varying rates of exchange for cryptocurrencies. Additionally, exchange rates have also been known to fluctuate widely in fast markets like cryptocurrency.

By and large, the cryptocurrency exchange price is traded on different crypto exchanges and crypto markets. Unlike a traditional fiat currency, no one sets a crypto exchange rate for today or tomorrow.

Thereby, the cryptocurrency exchange rate changes at different time intervals. In order to get an idea about a certain cryptocurrency’s rate, you can also try to calculate the average value of the exchange rate on various crypto markets.

Supported Coins and Tokens

If you prefer to have a diversified list of cryptocurrencies, choosing the best cryptocurrency exchanges in the UK that supports numerous crypto assets is favorable. This can range from Bitcoin to Ripple, Ethereum, and other DeFi tokens.

In light of this, having many supported coins and tokens do not necessarily mean that a crypto exchange is ideal. Some crypto exchanges have strict listing requirements before allowing support to other less-known altcoins.

Transaction Speed and Security

Depending on your situation, you might also look for the best cryptocurrency exchanges in the UK in terms of how fast the transactions can be done. Thus, it is suggested that you read up on the crypto exchange’s policy on how long it takes to complete a transaction (deposit/withdrawal).

Moreover, to avoid encountering risks, before signing up for a cryptocurrency exchange in the UK, check out what measures they take to secure the platform. It is better if they have cold storage for crypto assets or mandatory KYC for certain transactions.

Trading Volume and Liquidity

A large volume of trading is usually a good sign that a crypto exchange’s liquidity. Furthermore, it shows that the crypto exchange has the ability to fill a user’s order at any point of the day – no matter how big or small the amount is.

In line with this, depending on what type of trader you are, liquidity is also an extremely important factor. Generally, centralized exchanges are extremely liquid. They are also fast and user-friendly compared to other crypto platforms.

Best UK-Based Crypto Exchanges

Bitstamp

Bitstamp is currently the best cryptocurrency exchange in the UK. Aside from that, it is one of the world’s longest-standing crypto exchanges. Since 2011, the ‘original global crypto exchange’ based in the UK provides a safe and reliable platform for both individual traders and institutional clients.

In line with this, it has earned the trust of over four million individuals and financial institutions like brokers, neobanks, hedge funds, family offices, and aggregators. Moreover, it offers premium access to cryptocurrency trading through FIX, WebSocket, and HTTP API connectivity; 24/7 service and dedicated premium support; and industry-leading security practices.

In terms of payment methods, Bitstamp makes it easier for crypto users to buy crypto instantly through credit or debit cards. With a proven track record, people might ask if it is safe to use Bitstamp.

The simple answer — yes! Bitstamp keeps its clients’ personal data safe and secure by implementing advanced security technologies. These cover crypto asset storage as well as trading and transaction history.

Source: Bitstamp Official Website
Official Websitehttps://www.bitstamp.net/
Launching Date2011
Location of HeadquartersLondon, United Kingdom
Supported Coins/Tokens (10)BTC, ETH, XRP, LINK, LTC, OMG, BCH, XLM, USDC, PAX
Supported Trading Pairs42
Supported Fiat Currency (3)EUR, USD, GBP
Key Features and FunctionsVolume-based fee structureHigh-performance matching engineEasy-to-use mobile applicationEnterprise-level access to crypto markets
Fee ScheduleDeposit: Free of charge, except international wire (0.05%) Withdrawal: Varies Trading: From 0.50% and below
Crypto Asset StorageMulti-Sig hot wallet as well as cold storage systems

CEX.IO

CEX.IO is one of the best cryptocurrency exchanges in the UK. As one of the first platforms to make fiat-to-crypto transactions accessible, its mission is to provide a gateway into the world of an open financial system.

On CEX.IO, you can easily buy, sell, and trade leading cryptocurrencies using multiple trading tools. Moreover, depending on your account verification level, you’ll have different options for deposits and withdrawals. These include Visa/Mastercard cards, international and domestic bank transfers, and cryptocurrencies.

Overall, CEX.IO is a team of over 250 professionals working in several offices around the world. Not to mention that there are also over 3 million registered users within this crypto trading platform.

As a matter of fact, CEX.IO proudly affirms that 0% of its customers’ funds were lost on any hacking or scam issues. Furthermore, with top-notch services, it caters to the demands of both amateur and professional traders.

CEX.IO Official Website
Source: CEX.IO Official Website
Official Websitehttps://cex.io/
Launching Date2013
Location of HeadquartersLondon, United Kingdom
Supported Coins/Tokens66
Supported Trading Pairs140+
Supported Fiat Currency (4)USD, EUR, GBP, RUB
Key Features and FunctionsInstant crypto purchase with either debit or credit cardBuy, sell, earn, and exchange crypto easily through the mobile appCrypto-backed loan as well as stakingCEX.IO Aggregator also provides liquidity to professional traders and enterprise clients
Fee ScheduleDeposit: 0-4% Withdrawal: 0-3% service charge, with commissions Trading: 0-0.25%
Crypto Asset StorageCold storage

EXMO

EXMO is also one of the best cryptocurrency exchanges in the UK. Yet, it is known as the largest cryptocurrency exchange in Eastern Europe with around 2,000 BTC as its daily trading volume. Moreover, there are almost 2 million crypto traders registered on the platform.

With roughly a decade in operation, EXMO is constantly expanding its functionality, adding new assets to be supported, and most importantly, increasing its user base. Thus, its mission is not only to become one of the best crypto exchanges in the UK but the leading exchange portal of the cryptocurrency planet.

EXMO is particularly registered in the UK but has offices in Russia, Ukraine, and Turkey. In 2019, it has released its native exchange token, EXMO Coin (EXM). Although this crypto exchange makes the crypto trading journey, it is not as flawless as it looks.

In retrospect, EXMO lost over $10 million in the attack which happened on December 21. However, EXMO assured that all user assets affected are covered by the crypto exchange. Despite this incident, EXMO remains a reliable and trusted UK-based crypto exchange.

EXMO Official Website
Source: EXMO Official Website
Official Websitehttps://exmo.com/en
Launching Date2013
Location of HeadquartersLondon, United Kingdom
Supported Coins/Tokens57
Supported Trading Pairs181
Supported Fiat Currency (8)USD, EUR, GBP, RUB, PLN, TRY, UAH, KZT
Key Features and FunctionsMinimalist as well as easy-to-use trading interfaceStay up-to-date with the market trends through the EXMO mobile appAlso, earn cashback rewards with EXMO and receive up to 70% of trading feesVoting for the next project to be listed on EXMORefer a trader and certainly earn 25% of their transaction fees
Fee ScheduleDeposit: 0-4% Withdrawal: 0-5% in fiat, varies in crypto Trading: 0-0.4%
Crypto Asset StorageCold as well as hot vaults

Blockchain.com

Among the list of the best cryptocurrency exchanges in the UK is Blockchain.com’s own exchange. This crypto exchange, built by crypto pioneers, is particularly known for its speed, reliability, and liquidity. In summary, the Blockchain Exchange is a new, best-in-class platform for trading digital assets.

Committed to continuous innovation, individuals can trade in a fast, fair, and liquid platform with the most advanced order matching engine. On the Blockchain Exchange, you can particularly view crypto markets, check the status of your orders, and buy crypto using fiat.

Thus, registered users have a fast, intuitive, and simple trading experience. Besides, being one of the best crypto exchanges in the UK, it implements multi-layer security protection such as two-factor authentication, standardized encryption, offline crypto storage, and an intelligence-based monitoring system.

Without a doubt, Blockchain Exchange will level up your trading. Despite not having as many supported cryptocurrencies as other exchanges, the platform ensures high liquidity and quick execution of order books.

Blockchain Exchange Official Website
Source: Blockchain Exchange Official Website
Official Websitehttps://exchange.blockchain.com/
Launching Date2019
Location of HeadquartersNetherlands
Supported Coins/Tokens14
Supported Trading Pairs38
Supported Fiat Currency (4)USD, EUR, GBP, TRY
Key Features and FunctionsRobust as well as customizable trading charts the fastest matching engine in the crypto market particularly deep pool of liquidity from a group of global market makersLink your Blockchain Exchange trading account together with the secure non-custodial Blockchain Wallet
Fee ScheduleDeposit: Varies Withdrawal: Varies Trading: Starting 0.20% (maker), 0.40% (taker)
Crypto Asset StorageNon-custodial, institutional-grade cold storage

Coinfloor

A Bitcoin-focused crypto exchange is included among the best cryptocurrency exchanges in the UK. Coinfloor is also one of the UK’s longest established cryptocurrency exchanges. Founded in 2013, the platform focuses on trust, security, and reliability.

Moreover, its goal has always been to create a safe and accessible place to trade and invest in cryptocurrency specifically Bitcoin. In fact, Coinfloor is the world’s only platform that has provided regular bitcoin audits from the beginning.

The potential of cryptocurrencies such as Bitcoin as an asset and money system unites the Coinfloor team. For those who wish to buy and sell Bitcoin for profit, this UK-based crypto exchange provides a powerful and intuitive trading platform.

Being Bitcoin-only, this means that Coinfloor can provide a level of focus that no multi-coin exchange can match. In addition, one of its unique features is auto buying, claimed as one of the safest ways to buy bitcoin.

Coinfloor Official Website
Source: Coinfloor Official Website
Official Websitehttps://coinfloor.co.uk/hodl/
Launching Date2013
Location of HeadquartersLondon, United Kingdom
Supported Coins/Tokens (1)BTC
Supported Trading Pairs (2)XBT/GBP, XBT/EUR
Supported Fiat Currency (2)GBP, EUR
Key Features and FunctionsAutomatically buy BitcoinSecure storage as well as Bitcoin auditsCertainly one of the most liquid GBP to BTC exchanges in the worldA diverse suite of robust and reliable API tools
Fee ScheduleDeposit: Varies Withdrawal: Varies Trading: 0.10% – 0.30%
Crypto Asset StorageMulti-signature cold/insured storage custodian service

Conclusion

Cryptocurrency exchanges are a key market participant in the UK crypto market. Even with the abovementioned list of best crypto exchanges in the United Kingdom, many consumers still prefer to use non-UK based exchanges such as Binance, Coinbase, and Gemini.

If you are a UK-based crypto exchange that prefers to have an in-depth crypto exchange review, we can do it for you! Just contact [email protected] for inquiries.

CoinQuora Staff

CoinQuora is an online publication that aims to educate about news, exchanges, and markets in the cryptocurrency and blockchain industry

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