10 best crypto exchanges in the UK for 2023

Each year, we extensively review crypto exchanges and trading platforms available in the UK to decide our top picks. We’ve compared more than 20 platforms on aspects such as user experience, fees, payment methods and selection of coins.

The right crypto platform for you will depend on what you want to use it for. Some people use several to benefit from their different areas of specialty – one could be best for its range of coins and another for its crypto savings account.

Here are our best picks to give you a head start. If you click on the link, you’ll scroll to a summary on this article which includes whether the crypto exchange is registered with the UK’s financial watchdog, the Financial Conduct Authority (FCA).

Finder’s best crypto exchanges and trading platforms in the UK for 2023

• Kraken – Best overall exchange
• CoinJar – Best exchange for value
• eToro – Best for beginners & instant purchases
• Crypto.com – Best exchange for altcoins
• Revolut – Best all-in-one finance app
• Binance – Best all-in-one crypto platform
• Coinbase – Best crypto app
• Gemini – Best exchange for NFTs
• SwissBorg – Best exchange for earning yield
• Uphold – Best for staking

1. Kraken: Best crypto exchange (overall)

Go to site Read review

Kraken Cryptocurrency Exchange

★★★★★
Finder rating

220
Supported cryptos

FCA-registered

• Why we chose Kraken
• Pros & cons
• Fees & deposits

Kraken is one of the longest-running platforms in the industry and has maintained its legacy by constantly improving its services. It is the 2023 Finder Award winner for Best Exchange Overall thanks to its broad range of features and quality service.

You can start building a cryptocurrency portfolio today from 200+ supported coins. Kraken is popular with over 9 million users and exceeds a daily trading volume of just over US$550 million, which makes it one of the world's largest exchanges. But for overall features and trading tools, Kraken blows everyone out of the water. It is clearly made for traders but it doesn't leave novices behind either.

Kraken has a broad range of advanced trading features. It prides itself on offering low spreads and providing deep liquidity across markets so you don't need to worry as much about slippage. This helped Kraken secure another Finder Award for Advanced Trading.

While new traders may feel daunted by the exchange at first, the large variety of guides can help anyone become knowledgeable about cryptocurrency, its underlying technology and the different forms of trading. Meanwhile, more experienced traders will appreciate Kraken's high-quality system and easy-to-use user interface (UI). They will be pleasantly surprised by how straightforward it is to trade, move crypto and manage assets.

Pros

• 200+ supported coins
• Launched in 2013, one of the longest-running crypto exchanges
• Low fees for active traders
• Earn yield through staking
• High-quality educational guides and tools
• Registered as a crypto asset firm with the UK FCA as Payward Ltd

Cons

• Some trading features unavailable to UK users
• High fees for credit and debit card purchases
• No crypto debit card available for spending, unlike some alternatives

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Deposit Fees	Cash: £0–£21 depending on method of deposit Cryptocurrency: Mostly free but requires a minimum balance to deposit
Withdrawal Fees	Cash: £1.95 - £35 depending on method of withdrawal (min. withdrawal £5) Cryptocurrency: Minimum withdrawal requirement and flat-rate withdrawal fee that varies for each cryptocurrency
Trading Fees	1.5% plus spread
Advanced Trading Features	Yes

2. CoinJar: Best exchange for value

Go to site Read review

CoinJar Cryptocurrency Exchange

★★★★★
Finder rating

56
Supported cryptos

FCA-registered

• Why we chose CoinJar
• Pros & cons
• Fees & deposits

CoinJar is hard to beat when it comes to value, which is why it's our pick for best-value exchange. There are no deposit fees, no withdrawal fees and a very low spread - a fee often hidden by crypto exchanges.

UK users can make GBP deposits and withdrawals without incurring any sort of charge. Trading on CoinJar comes with a small percentage fee, which is slightly higher if you purchase crypto using its Instant Buy option.

When it comes to trading on the CoinJar Exchange, both its taker and maker fees are kept comparatively low. Plus, the more you trade, the lower the fee. CpinJar also offers value to customers in other ways. For example, its crypto debit card allows users to spend their digital assets as well as earn CoinJar Rewards.

Pros

• Registered as a crypto-asset firm with the UK's FCA
• No deposit or withdrawal fees
• Simple and easy-to-use platform
• Instant card payments
• Crypto debit card with rewards

Cons

• Limited services for active trading
• Wait time for withdrawals

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Deposit Fees	Cryptocurrency: No fee FPS: No fee Visa / Mastercard purchase (Instant Buy): 2% Apple Pay / Google Pay purchase (Instant Buy): 2%
Withdrawal Fees	Bank transfer: No fee Cryptocurrency: No fee
Trading Fees	Maker: 0.02-0.10% Taker: 0.06-0.10%

3. eToro: Best for beginners & instant purchases

Go to site Read review

eToro UK Cryptoasset Investing

★★★★★
Finder rating

76
Supported cryptos

FCA-registered

• Why we chose eToro
• Pros & cons
• Fees & deposits

eToro uses its experience as an investing platform to make things easy for crypto newbies. This is why it won both the 2023 Finder Award for Beginners and the Finder Award for Instant Purchases. Its beginner-friendly interface makes buying and selling crypto quick and simple for someone just starting out.

eToro pioneered the concept of copy trading back in 2010. This feature allows you to view and mirror trades made by experienced investors. Getting started is easy – simply choose a trader you want to copy and then set your account to follow their trading moves.

With a minimum of US$200, you can automatically repeat trades from some of eToro's top-performing crypto traders. There is no additional fee charged for this service.

Meanwhile, if you want to try before you buy, you can practice with $100,000 using eToro's virtual portfolio. This allows you to learn about the market and hone your trading skills before doing it for real.

Pros

• Unique copy trading feature
• Trades UK and international stocks
• Tiered membership options for advanced traders
• Registered as a crypto asset firm with the UK FCA

Cons

• Picking the right trader to copy can be difficult
• Foreign exchange fees on GBP deposits
• Higher spreads than other exchanges

Fees and deposit Methods	Bank transfer, Credit card, Debit card, Neteller, PayPal, Skrill, eToro Money
Deposit Fees	None
Withdrawal Fees	$5 (min. withdrawal $30)
Trading Fees	1% plus spread

4. Crypto.com: Best exchange for altcoins

Read review

Crypto.com App

★★★★★
Finder rating

262
Supported cryptos

FCA-registered

• Why we chose Crypto.com
• Pros & cons
• Fees & deposits

Crypto.com has one of the largest lists of cryptocurrencies available to Brits and is the 2023 Finder Award winner for Altcoins. It has over 270 cryptocurrencies on offer and is constantly looking to expand its offering with new coins.

If you're looking for something a little more obscure, Crypto.com will have you covered. It has an extensive range of novel coins and tokens and keeps you updated on the coins launching in the market. Head to its Coin Launches page and you'll be able to find out about the latest offerings.

Crypto.com is more than just the variety of coins it has on offer. As the 2023 Finder Award winner for Extra Features, it offers useful services to its 80 million customers worldwide. For example, you can get a crypto card, explore its NFT marketplace or set up your own DeFi wallet.

Pros

• Buy and sell 200+ cryptocurrencies
• Clean, user-friendly mobile app
• Supports recurring purchases
• Earn passive income on your cryptocurrency
• Registered as a crypto asset firm with the UK FCA

Cons

• Staking CRO is required for the highest-yield rewards
• Fees are higher than some competitors
• Poorly rated customer service on Trustpilot

Fees and deposit Methods	Cryptocurrency, SEPA, Faster Payments (FPS), Apple Pay, Google Pay, Debit/credit cards
Deposit Fees	None
Withdrawal Fees	Cryptocurrency: Fees vary
Trading Fees	Maker: 0.00-0.75% Taker: 0.05-0.75%

5. Revolut: Best all-in-one finance app

Go to site Read review

Revolut Cryptocurrency App

★★★★★
Finder rating

100
Supported cryptos

FCA-registered

• Why we chose Revolut
• Pros & cons
• Fees & deposits

Revolut is steadily becoming a one-stop shop for all things crypto. Since it was accepted into the FCA's full register of crypto asset firms, we've seen a series of new features such as the introduction of a crypto debit card and crypto staking.

The user-friendly digital app marries its current account services with its cryptocurrency features to create a seamless user experience. Customers can buy, hold and exchange 90+ cryptocurrencies in-app within seconds. Using funds from your Revolut current account, you can start investing almost immediately.

From the app, you will be able to choose which cryptocurrencies to invest in, set up recurring buys, send crypto to other Revolut users and take advantage of performance analytics to help you understand how your portfolio is performing. You can add a crypto spending mode to your existing Revolut debit card, which allows you to pay for purchases with instantly converted tokens.

Revolut also has a series of Learn and Earn modules to teach crypto basics to beginners. If you pass the quiz, you will receive a small amount of DOT coins as a reward. Plus, you can now stake certain tokens to earn rewards on your cryptocurrency.

Pros

• Educational resources
• Earn free crypto
• Swap multiple fiat currencies for crypto and vice versa
• Registered as a crypto asset firm with the UK FCA

Cons

• Higher transaction fees than dedicated crypto exchanges
• Limited number of supported coins

Fees and deposit Methods	Bank transfer, Debit card, Apple Pay, Google Pay
Deposit Fees	None
Withdrawal Fees	Fees vary
Trading Fees	0.5% (Premium or Metal plans) or 1.5% (Standard or Plus plans) plus spread

6. Binance: Best all-in-one crypto platform

Go to site Read review

Binance Cryptocurrency Exchange

★★★★★
Finder rating

350
Supported cryptos

FCA-registered

• Why we chose Binance
• Pros & cons
• Fees & deposits

Binance is at the cutting edge of emerging crypto products and is always looking to add more to its platform, which is why it's our pick for the best all-in-one crypto platform.

Whether you want to learn more about cryptocurrency and blockchain or to look at the options beyond the basic trading of crypto coins, Binance has features and services to suit just about everyone. As one of the most recognisable names in the market, Binance has all bases covered.

For instance, once you purchase a cryptocurrency, you can deposit it into an account to earn yield. Binance has also experimented with football and F1 Fan Tokens – a way for fans to support their team and influence decisions. It lets you access early-stage crypto products through its token launch platform.

There is also a learn-and-earn program to help encourage beginners. Even DeFi enthusiasts will be satisfied as Binance has a host of DeFi services based on its own Binance Smart Chain.

Pros

• Extensive earning hub with rewards
• Access to exclusive crowdfunding opportunities
• NFT marketplace
• Integration with DeFi markets
• Frequently launching new products

Cons

• Many products are experimental and high-risk
• Not registered with the FCA
• Customer service is ranked poorly on Trustpilot

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card, Faster Payments (FPS), Apple Pay, Google Pay
Deposit Fees	Instant Bank Payment: 0.5GBP Bank Card(Visa/MC): 1.80% Etana: None FPS: 1GBP Cryptocurrency: None
Withdrawal Fees	Instant Bank Payment: 0.5GBP FPS: 1GBP Bank Card (Visa): 1.80% Etana: None Cryptocurrency: Fees vary
Trading Fees	Maker: 0.02 - 0.10% Taker: 0.04 - 0.10%
Advanced Trading Features	Yes

7. Coinbase: Best crypto app

Go to site Read review

Coinbase Digital Currency Exchange

★★★★★
Finder rating

252
Supported cryptos

FCA-registered

• Why we chose Coinbase
• Pros & cons
• Fees & deposits

Get £5 free with your first trade. T&Cs apply.

Coinbase is one of the most popular crypto exchanges with over 110 million users globally. Known for its beginner-friendly platform, it adopts the same approach with its mobile app.

Under a clean and simple design, all the main features and services can be accessed in the app. These include Coinbase's learning rewards, debit card, earn feature and recurring buys. If you want to take things further, the app allows you to access Coinbase's Advanced Trade feature. This lets you set limit orders and view more advanced analytics. You can also create a Web3 wallet that will allow you to use third-party apps to buy NFTs, trade assets and earn yield.

Want to keep on top of prices and your account? The app has push notifications for security, account activity, price, news and product announcements. Finally, if you ever need help, you can use the app's live chat support or access the exchange's helpful guides all at the touch of a button.

Pros

• Beginner-friendly interface
• Over 200 coins
• Learn-and-earn program pays out crypto rewards while you upskill
• Use the Coinbase Visa card to spend crypto worldwide

Cons

• Not registered as a crypto asset firm with the UK FCA
• Fees are high relative to using a spot market exchange
• Customer service is often reported to be slow
• Limited staking and earning opportunities

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal
Deposit Fees	ACH: Free Wire transfer: US$10 SEPA: EUR€0.15 SWIFT (GBP): Free
Withdrawal Fees	ACH: Free Wire transfer: US$25 SEPA: EUR€0.15 SWIFT (GBP): GBP£1
Trading Fees	Maker fee: 0.00-0.4% Taker fee: 0.05-0.6%

8. Gemini: Best exchange for NFTs

Read review

Gemini Cryptocurrency Exchange

★★★★★
Finder rating

106
Supported cryptos

FCA-registered

• Why we chose Gemini
• Pros & cons
• Fees & deposits

Gemini has an in-house NFT marketplace, which is why it's our pick for the best exchange for NFTs. Nifty Gateway is one of the biggest NFT marketplaces in the world, best known for launching NFT collections by famous musicians.

Nifty Gateway provides an accessible way to buy, sell and store NFTs. It's a custodial platform, which means all the NFTs are stored in a secured wallet powered by Gemini's security technology. It also provides access to a good variety of popular collections, including CloneX.

Most NFT platforms require customers to pay in Ethereum, which can introduce crippling network or gas fees. But through Nifty Gateway, you can use your Gemini balance to purchase your chosen NFT, taking away the hassle of signing transactions and calculating gas fees. Nifty Gateway also covers gas fees when minting, buying and listing an NFT for sale.

Pros

• In-house NFT marketplace
• No gas fees for buying or minting
• Fiat and cryptocurrency accepted
• Registered as a crypto asset firm with the UK FCA

Cons

• Experienced an NFT heist in March 2021
• Heavy backlog in creator applications

Fees and deposit Methods	Debit card, Apple Pay, Google Pay, SWIFT
Deposit Fees	Cryptocurrency: None Wire Transfer: Determined by your bank Debit Card: 3.49% + Trading Fees
Withdrawal Fees	Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month)
Trading Fees	≤ £7.50: £0.75 > £7.50 but ≤ £20.00: £1.25 > £20.00 but ≤ £50.00: £2.00 > £50.00 but ≤ £150.00: £2.25 > £150.00: 1.49% of your Web Order value

9. SwissBorg: Best exchange for earning yield

Read review

SwissBorg

★★★★★
Finder rating

58
Supported cryptos

FCA-registered

• Why we chose SwissBorg
• Pros & cons
• Fees & deposits

If you are looking for variety and competitive yields, then SwissBorg could be right up your alley. The number of coins available for earning a daily yield and its Smart Yield wallet feature make it our pick for this category.

With SwissBorg's Smart Yield account, you can earn a passive income on more than 20 cryptocurrencies, including popular options such as Ethereum, Bitcoin and USD stablecoins.

The daily rates per asset are competitive, with the opportunity to earn higher percentage yields depending on your Premium status. Those who stake their CHSB (SwissBorg's native token) can boost their yields and access lower fees.

To access Smart Yield, simply move your holdings to your Yield Wallet. You don't have to settle for a fixed rate. The rate fluctuates as SwissBorg hunts around for the best returns for your chosen digital asset.

Swissborg's Earn feature lets you choose from multiple strategies based on their risk level and projected yield.

Pros

• Competitive yields on crypto holdings
• Rates fluctuate to get the best deal
• Opportunity to earn higher yield when staking
• Good variety of coins

Cons

• Not registered with the FCA
• Returns can fluctuate
• Funds are loaned out to third parties

Fees and deposit Methods	Bank transfer, Cryptocurrency, Credit or Debit Card, SEPA, SWIFT
Deposit Fees	None
Withdrawal Fees	0.10%
Trading Fees	0-1%

10. Uphold: Best for staking

Go to site Read review

Uphold - Digital Asset Platform

★★★★★
Finder rating

214
Supported cryptos

FCA-registered

• Why we chose Uphold
• Pros & cons
• Fees & deposits

Uphold has an expansive staking program. It works with blockchains that use proof of stake (PoS) as the mechanism for validating and processing transactions and creating new blocks in a blockchain. This means there is no lending involved whatsoever.

If you have a minimum balance of a supported PoS token, you can validate transactions and get rewards for doing so. You need to pledge your tokens to a validator for the purpose of validating transactions on the network, but you are compensated in the form of rewards. Under Uphold's staking service, you will receive your rewards weekly. How much this is depends on the crypto network and how much you actively stake.

What makes Uphold stand out is that it allows you to do this with 32 different tokens, making it one of the largest PoS staking programs available.

Pros

• PoS staking program – no lending
• Over 30 tokens available to stake
• No fiat deposit/withdrawal fees
• Registered as a crypto asset firm with the UK FCA

Cons

• Limited customer service
• Crypto withdrawal fees are unclear
• Prices not locked in pre-trade

Fees and deposit Methods	Bank transfer (ACH), Debit card, Apple Pay, Google Pay
Deposit Fees	£0
Withdrawal Fees	Cryptocurrencies: $2.99 + coin fees Fiat currencies: £0 Google Pay: £0
Trading Fees	US$1 flat fee on trades Spreads also apply

Why you can trust Finder's crypto experts

We're free

Our comparison tables are completely free to use. We link you directly to the platform's secure sign-up page and we'll never ask you for personal details. Better still, we regularly have exclusive offers that you won't find anywhere else.

We're experts

We've researched and rated dozens of exchanges as part of our Finder Crypto Trading Platform Awards. We've published hundreds of guides and our in-house experts are regularly called upon for commentary in Nasdaq and The Street.

We're independent

Unlike other crypto media, we're not owned by an exchange or investment firm. Our opinions are our own and we put our readers first to help you find the crypto trading platform that's right for you.

We're here to help

We're a team of crypto nerds with extensive experience in investing, trading and decentralised finance but we also remember how it feels to be a beginner. We give you first-hand reviews of what it's like to use these products – without jargon.

How to choose the best crypto exchange in the UK

It's important to research a wide range of crypto platforms and compare the pros and cons of each option. The best crypto exchange for you depends on what you're looking for, so consider the following:

Compare more crypto trading platforms and apps in the UK

Sort by:

Name	Product	Deposit methods	Fiat Currencies	Cryptocurrencies	Offer	Disclaimer
eToro UK Cryptoasset Investing eToro UK Cryptoasset Investing Finder Award		Bank transfer, Credit card, Debit card, Neteller, PayPal, Skrill, eToro Money	EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK	76 cryptocurrencies			Go to site View details	Compare	loading Fetching your data...
Uphold - Digital Asset Platform Uphold - Digital Asset Platform		Bank transfer (ACH), Debit card, Apple Pay, Google Pay	USD, GBP, AUD, EUR, CAD, CNY, JPY, SGD, INR, NZD	214 cryptocurrencies			Go to site View details	Compare	loading Fetching your data...
Binance Cryptocurrency Exchange Binance Cryptocurrency Exchange 4.8★★★★★(1987)		Bank transfer, Credit card, Cryptocurrency, Debit card, Faster Payments (FPS), Apple Pay, Google Pay	USD, AUD, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 60+ more	350 cryptocurrencies		Binance has suspended GBP deposits and withdrawals for new users.	Go to site View details	Compare	loading Fetching your data...
Kraken Cryptocurrency Exchange Kraken Cryptocurrency Exchange Finder Award		Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay	USD, EUR, GBP, JPY, CAD, CHF, AUD, AED	220 cryptocurrencies			Go to site View details	Compare	loading Fetching your data...
BC Bitcoin Cryptocurrency Broker BC Bitcoin Cryptocurrency Broker		Credit card, Debit card, Faster Payments (FPS), BACS, Instant SEPA	GBP, EUR	119 cryptocurrencies			Go to site View details	Compare	loading Fetching your data...
CoinJar Cryptocurrency Exchange CoinJar Cryptocurrency Exchange Finder Award		Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay	GBP	56 cryptocurrencies			Go to site View details	Compare	loading Fetching your data...

Disclaimer: Star ratings are only displayed for products with 10 or more reviews.

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How to use a cryptocurrency exchange

For the sake of our example, let's assume that you have £500 that you want to use to buy Bitcoin (BTC).

1. Compare cryptocurrency exchanges to find one that offers the right service for you.
2. Register for an account on the platform and provide any personal details and proof of ID required.
3. Navigate your way to the "Buy" screen.
4. Select BTC as the cryptocurrency you want to buy.
5. Select your payment currency, which in this case is GBP, and specify the amount you want to spend as £500.
6. Select your payment method, such as a credit card payment or bank transfer.
7. Enter your payment details, such as your account number if sending a bank transfer or your card number and CVV if paying by credit card.
8. Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
9. If you're happy to proceed, click "Buy BTC".
10. Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address that you nominate.

The different types of cryptocurrency exchanges

The term "exchange" may refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared toward beginners or experienced users.

• Cryptocurrency brokers (suited to beginners). Buy directly from cryptocurrency dealers for simple and quick purchases. Many beginners use brokers for their first purchase. A broker will facilitate an instant purchase of the digital asset of your choosing and will not offer spot trading.
• Cryptocurrency trading platforms (suited to beginner/intermediate users). Buy and sell cryptocurrency on an open market for competitive fees, a wide selection of cryptocurrencies and optional features like margin trading. Many exchanges now offer brokerage services to be more beginner-friendly.
• Cryptocurrency derivatives platforms (suited to advanced users). These trading platforms don't sell cryptocurrency outright. Instead, they let certain users trade cryptocurrency derivatives in regions where this restricted-access feature is available. They're for advanced traders who want high speed, high leverage and deeply liquid platforms with a full range of features.

It's difficult to find one exchange with all the coins and features you want. I spread my trading around several exchanges to make sure I'm getting exactly what I need, while also diversifying my risk should the exchange get hacked or shut down. To further reduce risk I use one registered locally so it's subject to local laws and regulations.

James Edwards
Finder's Global Crypto Editor

Risks of using a crypto exchange

• Cybersecurity breaches. Hacks and scams are, unfortunately, commonplace in the crypto space. Exchange-related security breaches and targeted phishing scams remain a major concern for exchanges and their customers.
• Not your keys. "Not your keys, not your crypto" is a common industry saying and refers to holding your digital assets in a wallet that another person or company controls, such as on an exchange. By storing cryptos on an exchange rather than in a non-custodial wallet, you're relinquishing full ownership of those assets and putting trust in a third party – which some may see as contradictory to the decentralised philosophy of crypto.
• Lack of consumer protection. While crypto exchanges are increasingly regulated in the UK and may be registered with the FCA, they are still lacking a lot of consumer protections such as mandatory insurance or strict rules about how user assets are managed.
• Proof of reserves. Since the widely publicised collapse of FTX, many traders and investors have demanded centralised exchanges provide proof of reserves and user deposits. This may be done by a third-party auditor or through the use of on-chain data. Proof of reserves is still an evolving concept, and it's not clear yet what the best practices are or how reliable it will prove to be.
• Transaction limits. Most crypto trading platforms have daily deposit and withdrawal limits. This means that even though you may have, for example, 10,000 GBP available, you may not be able to access and withdraw the total balance. Transaction limits depend on the exchange and the FCA stipulations and typically increase as you provide additional KYC information.
• Frozen accounts. Crypto exchanges freezing deposits and withdrawals can happen without warning. If your account is frozen, you will not be allowed to remove your funds until the exchange approves or denies your request. Precautionary measures such as only holding a trading balance on an exchange are recommended.
• Asset delistings. Centralised exchanges can opt to delist a cryptocurrency at any time. This can happen for numerous reasons, including poor asset performance, security concerns or anti-money laundering (AML) breaches. If delisting is taking place, you will be notified by the exchange and forced to sell your assets or remove them from the platform.

Is it safe to store your cryptocurrency on an exchange?

Securely store your crypto:

• Best crypto wallets
• Best hardware wallets

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet that lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired.

However, once you have purchased what you consider to be a sizable amount of digital assets, you may want to consider transferring the private keys to those assets to a self-custodial wallet.

This is because the exchange controls the private key to your wallet, which means you don't have total control of your funds. And with exchanges sometimes falling victim to hackers, there is some degree of risk involved with leaving the private keys to your crypto in the hands of a centralised exchange.

Learn more about cryptocurrency wallets

Bottom line

Not all crypto exchanges are created equal and not all crypto buyers and sellers have the same trading needs. The best exchange or platform for one person might not necessarily be the right choice for someone else, so it's essential to do your own research.

Read our reviews of some of the most popular cryptocurrency exchanges in the UK and around the world before you decide which to use. Compare the features, fees and pros and cons of each platform and consider whether they align with your investment goals and budget.

FAQs

• Are all crypto trading platforms regulated in the UK?

  It is important to understand that cryptocurrencies are not currently regulated in the UK. The Financial Conduct Authority's (FCA) position on cryptocurrency is that "Cryptoassets are considered very high risk, speculative investments".

  However, as of 31 March 2022, all cryptocurrency exchanges need to be registered with the FCA in order to operate in the UK. Currently registered exchanges include Ziglu, Zumo, Coinpass, CoinJar and eToro.

• Are deposits on cryptocurrency exchanges insured in the UK?

  There is no financial insurance scheme in place for cryptocurrencies. So any deposits that you have with a cryptocurrency exchange will not be protected by the Financial Services Compensation Scheme (FSCS).

  Some crypto exchanges have their own insurance policies in place to protect your cryptoholdings against cybercrime. When researching which crypto exchange in the UK to use, remember to take a look at what insurance and security features the exchange has in place.

• What is the safest crypto exchange in the UK?

  The safest exchanges are those that have stringent security measures, such as 2-factor authentication, an insurance fund and cold wallet storage in place.

  Crypto isn't regulated, and even with registered firms, you don't get the protection you'd get with regulated services, such as access to the Financial Ombudsman if you have a complaint.

  Keep in mind that all centralised cryptocurrency exchanges are vulnerable to hacking, so consider using a hardware wallet for added security.

• Which crypto exchange has the lowest fees in the UK?

  There are lots of fees to take into account when choosing an exchange. Transaction fees are the most transparent, but it is "spreads" where costs can really add up. CoinJar is known for having a very low spread as well as no deposit or withdrawal fees.

  There can be plenty of other fees to weigh up when picking an exchange. A good place to start is by comparing fees with our table.

• What is the most trusted cryptocurrency exchange?

  Due diligence and research are incredibly important when choosing a crypto exchange you can trust. As a good rule of thumb, look for platforms that are registered with the UK's financial watchdog, the FCA.

  A great way to dive deeper is by reading our extended reviews of each crypto exchange and researching customer feedback on platforms like Trustpilot as well as industry data.

• Why do some crypto exchanges ask me to verify my identity?

  Exchanges in the UK and several other countries are subject to anti-money laundering and counter-terrorism financing (AML/CTF) laws. In order to comply, exchange operators must gather certain details about their customers – which is why you may be asked to provide proof of ID. This process is typically referred to as "know your customer" or KYC.

• What is the best crypto exchange in the UK?

  To answer this question, you'll need to research a number of crypto exchanges and compare their features and fees based on your needs and budget.

  However, we've given you a head start by sharing some of our picks for the best crypto exchanges in the UK at the top of this page.

• Which crypto exchanges are legal in the UK?

  In order to operate in the UK, all cryptocurrency exchanges need to be registered with the FCA. You will be able to find a list of registered exchanges on the FCA's website.

  It is important to understand that while registration allows crypto exchanges to operate in the UK, cryptocurrencies are not regulated.

• How do major crypto exchanges in the UK compare?

  • eToro vs Coinbase
  • Kraken vs Coinbase
  • Gemini vs Coinbase

  • eToro vs Binance
  • Uphold vs Coinbase
  • CoinJar vs Coinbase

Finder's crypto exchange reviews

Crypto platform news & launches

Binance suspends sterling deposits and withdrawals

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Binance has suspended pound sterling deposits and withdrawals – find out what this means for its UK customers.

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Revolut introduces crypto staking in the UK

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Revolut continues to expand its crypto services and has now introduced staking for UK customers. Discover more here.

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Nexo exits the US over lack of clear regulations

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Nexo announces it will no longer have operations in the US due to regulatory confusion, while the UK moves ahead with its own guidelines.

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