Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
1. You could lose all the money you invest
2. You should not expect to be protected if something goes wrong
3. You may not be able to sell your investment when you want to
4. Cryptoasset investments can be complex
5. Don't put all your eggs in one basket
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
It’s very important to be aware that since January 2021, the Financial Conduct Authority (FCA) has banned cryptocurrency exchanges from selling cryptocurrency derivatives to UK consumers. In 2021, Binance was banned from operating in the UK by the FCA. Whenever a user visits the site, Binance now informs a user about the existing ban. While this doesn’t prevent those in the UK from trading on Binance, customers are currently unable to make deposits via pounds sterling (GBP). The FCA does not regulate cryptocurrency assets such as Bitcoin, but it does require an exchange to be registered with the FCA to operate in the UK.
Binance has the following features:
The following exchanges are probably the closest equivalents to Binance you can find.
To make comparing even easier we came up with the Finder Score. Fees, features and asset-support across the most popular platforms are all weighted and scaled to produce a score out of 10. The higher the score the better the exchange – simple.
If none of the exchanges above has what you’re looking for, you might want to start looking in one of the places below.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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