Summary: The UK's leading cryptocurrency exchanges set themselves apart through licensure and strict regulation by the Financial Conduct Authority (FCA). They ensure maximum security for UK crypto investors by complying with rigorous guidelines and undergoing comprehensive audits from independent financial institutions.
In this article, we rank the five best cryptocurrency exchanges in the UK based on factors like user-friendly interfaces, diverse cryptocurrency offerings, and competitive transaction fees:
- Uphold - Best Overall Exchange in the UK
- Crypto.com - Best Alternative Exchange in the UK
- Binance - Best for Institutional Investors
- OKX - Good Alternative for Beginners
- Bybit - Best for Leverage Trading in the UK
Best Crypto Exchange in the UK - Uphold
- Buy & stake 250+ cryptocurrencies with zero fees on an FCA-Licensed exchange.
- Uphold is headquartered in London, the United Kingdom.
- One of the only exchanges in the world with an audited proof-of-reserves.
Top Crypto Platforms in the United Kingdom
Our expert team have meticulously reviewed over 20 digital currency platforms to disclose the premier 5 selections for investors in the United Kingdom. To identify the UK's top exchanges, we conducted thorough investigations, carefully scrutinising and balancing the strengths and weaknesses of each platform. Based on our comprehensive study, we offer a concise rundown of the Top 5 Cryptocurrency Exchanges in the UK.
Topping the UK cryptocurrency exchange list is Uphold, a London-based platform licensed by the Financial Conduct Authority (FCA). Uphold stands out with its wide offering of over 250 cryptocurrencies to buy and stake, all with zero fees. It also provides instant GBP deposits from all UK banks, Faster Payments, debit and credit cards, making transactions swift and hassle-free.
Uphold boasts a global user base of over 10 million, showcasing its trustworthiness in the crypto world. It's accessible across multiple platforms, including Web App, iOS, and Android, and provides real-time customer support 24/7. These features combine to affirm Uphold's position as the leading cryptocurrency exchange in the UK.
Securing the second spot among UK's top cryptocurrency exchanges is Crypto.com. This globally recognized, regulated exchange serves customers across 120 countries, including the UK. It impresses with a catalogue of over 100 cryptocurrencies for trading, with modest fees starting at just 0.1% per transaction.
Crypto.com simplifies trading with swift GBP deposits and withdrawals via UK bank transfers, debit cards, and credit cards. Their round-the-clock customer support ensures assistance is always at hand. What sets Crypto.com apart is their secure wallet for safe coin storage, and a variety of trading options like margin trading, futures, and derivatives. These unique features reinforce Crypto.com's position as a prime choice for cryptocurrency traders in the UK.
Taking the third spot in the UK's top cryptocurrency exchanges is Binance, a globally renowned platform with over 120 million users. Licensed by the Financial Conduct Authority (FCA), Binance offers a safe and regulated environment for trading an expansive range of over 350 crypto assets.
Binance allows seamless GBP deposits and withdrawals via UK banks, debit and credit cards, all with a modest 0.075% trading fee. Their commitment to customer service is evident in their 24/7 customer support, available to assist users at any time. Unique to Binance is its deep liquidity on derivatives, options and spot markets with billions of dollars traded daily. These features, coupled with its global recognition, secure Binance's place as a leading cryptocurrency exchange in the UK.
Claiming the fourth spot in the UK's top cryptocurrency exchanges is OKX. Despite not having an FCA license, OKX appeals to UK residents with its vast array of over 300 cryptocurrencies for trading, all with competitive fees starting at 0.1% OKX ensures smooth trading by supporting instant GBP deposits via UK bank transfers, Faster Payments, PayPal debit cards, and credit cards. Their 24/7 customer support is always ready to assist, enhancing user experience.
Unique to OKX is its feature-rich platform which includes a native blockchain for DeFi called OKC Chain, an NFT Marketplace, derivatives trading and more. These features make OKX a comprehensive and popular choice for cryptocurrency trading in the UK.
Rounding off the top five cryptocurrency exchanges in the UK is Bybit. Although it doesn't hold an FCA license, Bybit is accessible and popular among UK investors. The platform is particularly notable for its emphasis on derivatives trading, offering up to 25x leverage on over 300 digital assets. This unique feature sets Bybit apart from many of its competitors.
Bybit ensures a cost-effective trading experience with low Maker and Taker fees starting at 0.075% - which is the same as Binance UK. Outside of this, Bybit supports free and instant GBP deposits with bank transfer, Faster Payments, debit cards, credit cards, Apple Pay, Google Pay and more, making it a convenient choice for UK users.
Is Crypto Investing Legal in the UK?
Yes, investing in cryptocurrencies is legal in the United Kingdom. However, the UK's Financial Conduct Authority (FCA) has issued warnings about the risks associated with investing in cryptocurrencies and has urged consumers to be cautious when investing in these assets. The FCA also regulates firms that provide services related to cryptocurrencies, such as exchanges, to ensure they comply with UK laws and regulations.
Are Crypto Exchanges regulated in the UK?
In the United Kingdom, crypto exchanges are regulated by the Financial Conduct Authority (FCA). The FCA is responsible for regulating the financial markets in the UK and ensuring that they are fair, transparent and in the interests of consumers. The regulation of crypto exchanges by the FCA helps to ensure the safety and security of investors' funds and to prevent fraudulent activity. The FCA has set out specific rules for crypto exchanges, including requirements for customer due diligence, anti-money laundering (AML) procedures, and cybersecurity measures. These regulations aim to protect consumers and promote the integrity of the UK's financial markets.
To identify the best overall exchange in the United Kingdom, we evaluated 6 key factors including regulatory adherence, features, fees, platform security & user experience. We looked at over 40 exchanges and compared their offerings to determine which one offered the most value for UK investors.
In conclusion, the UK's cryptocurrency market is marked by a high degree of regulation and oversight, ensuring secure and transparent digital asset exchanges. Uphold, Crypto.com, Binance, OKX, and Bybit emerge as the top five exchanges, distinguished by their diverse offerings, user-friendly interfaces, and competitive fees.
As we've observed, these platforms adhere to the guidelines set by the Financial Conduct Authority (FCA), underscoring their commitment to consumer protection and market integrity. As a UK investor, choosing a crypto exchange that aligns with your trading needs and regulatory expectations is crucial.
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.