The Best UK Crypto Exchange You Should Check Out in 2024

We understand how overwhelming it can be to find the best UK crypto exchange. Which is why we’re here to help you out. A good exchange makes all the difference. With it, anyone can buy, sell and manage their crypto portfolio with ease. It also ensures that your transactions are safe and your funds are secure. 

With so many options out there, choosing the right once can seem tricky. Some offer low fees while others focus more on providing a user-friendly experience. So whether you’re new to crypto or already a pro, we’ll help you find the most reliable platform. 

Let’s get started.

Best UK Crypto Exchange To Check Out

Here’s an overview of the eight best crypto exchange for UK.

Now, let’s take a detailed look at all of the cryptocurrencies mentioned in the table.  

1. Binance

Binance was established in 2017 by Changpeng Zhao and has rapidly grown to become the world’s largest cryptocurrency exchange by trading volume. It offers a strong suite of services which includes spot and futures trading, staking and decentralized finance (DeFi) integration. With support for over 500 cryptocurrencies, Binance enables users to trade various cryptocurrencies. 

The best thing about this platform is its competitive trading fees which start at 0.10% and can be further reduced to 0.075% by using BNB to pay trading fees. Additionally, Binnacle offers an intuitive mobile app for users to trade on the go. This exchange offers services to every kind of user ranging from beginners to professional traders and institutions. 

Binance also offers Binance Earn to allow users to generate passive income through staking or savings. For security-conscious people there are various security measures which include two-factor authentication and cold wallet storage. Binance is well-known in the UK as it supports various GBP trading pairs and offers fast deposits via UK bank transfers. 

One more interesting thing that Binance offers to traders is a referral bonus up to $100. It can be earned by anyone who can refer people to the Binance platform. You only need to create a Binance Referral ID and ask your friends to sign up using that referral ID. 

In October 2024, Binance announced that it is aiming to increase its user base to 1 billion users. The company also emphasized on the importance of regulatory compliance and expressed a desire for increased regulation to prevent any future scandals. Additionally, Jeff Li was introduced as the new Vice President of the product. If you’re new to crypto, you can also benefit from their educational resources in the UK market. 

Pros

• Vast selection of cryptocurrencies.
• Low trading fees, with further reductions when using BNB.
• Advanced tools for professional traders.
• High liquidity ensures fast trades.

Cons

• Facing regulatory scrutiny in some regions, including the UK.
• Advanced interface can be overwhelming for complete beginners.

2. Kraken

This exchange was built in 2011 which makes it one of the oldest and most reputable cryptocurrency exchanges. It is known for its high-security standards, transparent fee structure, and support for a variety of cryptocurrencies. Kraken offers access to over 200 cryptocurrencies which means hundreds of trading pairs. Additionally traders can explore the advanced trading features such as futures contracts, margin trading and staking options. 

Kraken puts a lot of emphasis on security as well as most of its funds are stored in offline cold wallets and offers 2FA for user accounts. This platform is great for professional traditional traders, institutions and individuals seeking a secure and reliable trading platform, making it the best UK crypto exchange. It’s also great for beginners as they can use the simple “Buy Crypto” feature to buy any token of their choice. 

For users living in the UK, this exchange offers fast bank transfers via faster Payments, ensuring seamless transactions for UK users. Its strong reputation for security and transparent fee structure make it a trusted choice for UK investors. Similarly to Binance, Kraken also allows users to earn from referral. All you need to do is copy your unique Kraken Referral ID and ask your friends to sign up from it. 

As of November 2024, Kraken is still expanding its services and maintaining its reputation for security and reliability. The exchange has been actively working on enhancing its user experience and introducing new features to meet its users’ needs. 

Pros

• High-security measures.
• Transparent fee structure.
• Comprehensive tools, including margin trading, futures, and staking.
• Good customer support.

Cons

• Trading fees are slightly higher than some competitors.
• Limited payment methods compared to other platforms.

3. Coinbase

Coinbase was established in 2012 as one of the most user-friendly cryptocurrency exchanges. Its main focus was on simplicity and security and offered an intuitive interface which makes it easy to buy, sell and manage cryptocurrencies. Without support for over 150 crypto tokens, Coinbase is a solid choice for UK users who value simplicity. The platform also provides insurance for funds held on the platform and power security measures such as 2FA and biometric logins. 

This best crypto trading platform UK is perfect for beginners, casual traders and those who prioritize simplicity and security over advanced trading features. Apart from that the platform also offers educational resources that reward users with crypto. For the more advanced traders, there’s also the Coinbase Pro which offers advanced trading tools. As a trader, you can also earn the Coinbase bonus which is a great pay to earn money passively. 

In November 2024, Coinbase’s stock experienced a significant surge which helped it rise by 18% which is significant. This rally was part of a broader increase in crypto-related shares mostly influenced by political developments and investor optimism. Because of all the features Coinbase has maintained its position as a leading crypto exchange for traders in the UK.

Pros

• Simplified interface suitable for new users.
• Funds insured, with multiple safety layers.
• Earn crypto while learning about blockchain.

Cons

• Standard fees are more expensive than competitors.
• The Pro version is only for professional users.

4. OKX

OKX was created in 2017 as a global cryptocurrency exchange for people all over the world. This platform supports over 350 cryptocurrencies and is great for both beginners and experienced traders. It offers a host of advanced trading options which include futures, options and perpetual swaps. On top of that, OKX is a pioneer in decentralized finance (DeFi) integration which provides users with a native Web3 wallet and seamless access to decentralized applications (dApps).

The whole existence of OKX is for traders who seek access to an extensive selection of cryptocurrencies and advanced tools. It also appeals to DeFi enthusiasts and developers looking to explore dApps and blockchain technology. The platform also allows users to earn passive income through staking options and yield farming. It also has a mobile app which anyone can access for trading with ease. 

OKX provides UK users with GBP deposit options and competitive fees which starts at 0.10% for takers and 0.08% for makers. Its low fees and variety of tokens make it a strong choice for traders in the UK. Recently, OKX introduced an AI-driven trading assistant to help traders make better and more informed decisions. If you’re interested in earning more from the platform, you can get the OKX Sign Up Bonus and even share it with your friends. 

Pros

• Offers an extensive token selection with over 350 cryptocurrencies.
• Competitive trading costs.
• Access to decentralized applications and blockchain tools.

Cons

• Not ideal for complete beginners.
• Fewer deposit methods compared to competitors.

5. eToro

eToro is a unique platform that combines cryptocurrency trading with traditional asset investment like stocks, ETFs and commodities. It was established in 2007 and is widely recognized for its social trading features. The platform also allows users to copy the trades of seasoned investors. This makes it especially appealing to beginners looking to learn from experienced traders. eToro supports around 80 cryptocurrencies and provides a daily simple trading experience through its web and mobile platforms. 

As a platform, eToro is designed for beginners, casual investors and those interested in social trading or diversifying their portfolio. For people interested in more than cryptocurrency, this platform is perfect as it offers hundreds of stock options as well. With its demo account, you can strategize and find the techniques and strategies that work best for you. 

eToro is fully registered in the UK which makes it a trustworthy choice for users. Its easy-to-use platform combined with GBP payment methods and social trading features makes it a unique and regulated option for UK traders. 

As for its current standing, eToro has launched an AI-powered portfolio analysis tool that enables users to better manage their investments. The platform has been gaining a stronghold in the UK partly because of its compliance with FCA regulations and its efforts to educate retail investors what crypto market is really about. 

Pros

• Allows users to learn from and copy experienced traders.
• Fully compliant with UK regulations.
• Offers diverse asset offerings like crypto, stocks, and more.

Cons

• 1% trading fees is higher than many competitors.
• Smaller range of crypto tokens as compared to other exchanges.

6. MEXC

The next best UK crypto exchange on our list is MEXC, which is a global platform renowned for its range of supported cryptocurrencies, offering 2,822 of those tokens. It is especially popular among altcoin enthusiasts and investors looking to access early-stage projects. Another thing that makes this platform great is its competitive trading fees of 0.20%, innovative token launchpad and user-friendly platform that supports a variety of trading options including spot, margin and futures. 

MEXC appeals to traders interested in exploring niche cryptocurrencies and participating in token launches. Its features also make it a good choice for experienced traders who are interested in lesser-known investment opportunities. This crypto exchange provides UK traders with access to one of the largest selections of cryptocurrencies including niche altcoins.

As for how it’s performing recently, MEXC has expanded its educational resources and is helping traders better understand complex products like perpetual swaps and leveraged tokens. This exchange has also been actively enhancing its user experience so that even the intermediate traders can access and use it on a daily basis. 

Pros

• Huge selection of tokens, over 2500 cryptocurrencies available. 
• Competitive trading costs around 0.20%.
• Offers early access to projects and innovative token launch features. 

Cons

• The interface can be a little confusing for new users.
• Offers fewer choices for direct fiat deposits. 

7. Crypto.com

Crypto.com is a multi-functional cryptocurrency platform that offers trading, staking and spending options through its popular Visa card. It supports over 350 cryptocurrencies and is a go-to platform for users seeking an all-in-one solution for their crypto needs. Its app provides a simple and easy way to trade, stake crypto and earn rewards while Visa card allows users to spend crypto and earn cashback on purchases. 

This crypto exchange is ideal for users looking for a platform that combines trading, staking and real-world utility. It also offers services to investors looking for passive income opportunities through staking and lending. There’s also a user-friendly app that traders can use for managing crypto services. Crypto.com supports GBP deposits and offers competitive fees along with unique benefits like cashback rewards. 

In 2024, Crypto.com expanded its Visa card offerings in Europe to make it more accessible to UK users. The platform also introduced new staking pools and NFT integrations to attract a wide range of traders. They have also been actively promoting its commitment to security and compliance which has strengthened its reputation in regulated markets like the UK. 

Pros

• Combines trading, staking and spending as an all-in-one platform. 
• Offers cashback and staking rewards to users. 
• Easy to navigate for both beginners and experienced users. 

Cons

• The customer support time can be a bit slow according to reviews. 
• Only offers discounts when the trades have high-enough volume. 

8. Gemini Exchange

The last exchange on our list of best UK crypto exchange is Gemini exchange which was founded in 2014 by the Winklevoss twins as a US-based exchange. It’s well-known for its strong regulatory compliance and security measures. As for the cryptocurrencies, it supports only around 80 crypto tokens. This platform offers a simple interface for beginners and advanced trading tools for the more experienced users through its ActiveTrader platform. 

It also provides a unique feature called Gemini Earn which allows users to earn interest on their crypto holdings. Gemini exchange is perfect for beginners, institutions and anyone who prioritizes regulatory compliance and security. It’s also a reliable choice for UK trades because of global regulatory compliance and peace of mind it offers to the users concerned about safety and trustworthiness. 

In 2024, Gemini expanded its service to include more staking opinions and enhanced security features. The exchange has been actively seeking regulatory approvals in new markets which include Europe as well, only to broaden its global footprint. Lastly, use the Gemini Promo Code No Deposit to earn more as passive income. 

Pros

• Offers high security such as insured funds and powerful protection measures.
• Provides a simple interface which is ideal for beginners.
• Regulated platform which is compliant with UK and global regulations. 

Cons

• Limited selection of cryptocurrencies as compared to other exchanges.
• Higher trading fee which is slightly above average. 

Factors for Choosing the Best UK Crypto Exchange

Here are all the factors you should be looking at if you want to find the best UK crypto exchange. 

1. Security Measures

Security should be your top-most priority. If the platform you’re choosing isn’t secure, your finds will be lost forever during hacking, fraud or data breaches. So, a few security features you should look for in an exchange are: 

• Two-Factor Authentication (2FA): This requires two forms of identification to access your account. Every trader should enable this feature for their trading accounts. 
• Cold Storage: The best exchanges out there store most user funds in offline wallets that are not connected to the internet. It keeps them safe from online attacks. 
• Encryption: Platforms should encrypt user data and ensure that your personal information remains private and safe. 
• Regulatory Compliance: The exchange should be regulated in the UK and must adhere to strict rules to provide financial transparency. 
• Insurance Coverage: Some exchanges like Coinbase insure users’ funds to add an extra layer of protection in case the platform is hacked. 

2. Regulation and Licensing

Choosing a regulated exchange ensures that the platform operates legally. There are many unregulated platforms that offer attractive features but they carry significantly higher risk. 

If you’re using an exchange in the UK, it must be registered with the Financial Conduct Authority to make sure it complies with anti-money laundering (AML) and know-your-customer (KYC) requirements.

3. Fees and Costs

Cryptocurrency trading fees can accumulate quickly especially for frequent traders. So, it’s important to understand the various fee structures exchanges offer. Some things to understand here are: 

• Trading Fees: Most platforms charge a percentage per transaction. For example, Binance charges 0.1% as compared to eToro which charges flat 1% on every trade. Choose the one with the lowest fee possible.
• Deposit and Withdrawal Fees: These vary based on the payment method. Bank transfers are often free but card payments can carry higher fees. 
• Hidden Fees: Some exchanges have hidden costs like spread fees or inactivity fees for dormant accounts.

4. User Interface and Experience

A good user interface is crucial for beginners and seasoned traders alike. For beginners, platforms like eToro and Coinbase offer simplified interfaces with clear “Buy/Sell” options and educational resources to guide new users.

Now, for the more advanced traders, platforms like Binance and Kraken include advanced charts, technical analysis tools and multiple order types for traders who need more control. Apart from that, a well-designed mobile app ensures you can keep an eye on different markets and execute trades on the go. 

5. Advanced Trading Features

If you’re an advanced trader with tons of experience, you must be seeking more flexibility and control. Here’s what you should be looking at if you’re one of those traders:

• Margin Trading: This feature lets you borrow funds to trade large positions, thus increasing potential profits. 
• Futures and Options: Allows traders to hedge bets or speculate on price movements with leverage. 
• Staking and Lending: Many exchanges, like Crypto.com and Binance, let you earn rewards or interest by staking your holdings or lending them to others. 
• API Access: This feature allows developers to automate trading strategies and integrate third-party tools. 

6. Customer Support

Good customer support can save you time and stress if you encounter issues.Exchanges with poor customer service frustrate the customers and leave them stranded. Here are a few customer support features you should be looking at:

• 24/7 Availability: Look for platforms that offer round-the-clock support as the crypto market never sleeps. 
• Multiple Contact Methods: Offers options like live chat, email or phone support. These can be helpful in case of emergency. 
• Response Time: Prompt and effective support is critical for resolving urgent issues like withdrawal delays or account security. 

7. Reputation and Reviews

The reputation of an exchange is a deal-breaker as it tells how reliable a platform is. You must read reviews on platforms like trustpilot to check the reliability of any platform that you are about to use. 

It is also helpful to communicate with other people on forums and social media. Also research the platform’s history which includes any past hacks or scandals. 

8. Staking and Rewards

Staking and rewards programs are also an excellent feature to look out for as it offers a way for traders to earn passive income. A few features to look for are: 

• Staking: Lock up your cryptocurrencies to support the network and earn rewards over time. 
• Lending Programs: Allows users to lend their crypto to others and earn interest from it. 
• Cashback Cards: Crypto.com offers a VISA card with cashback in cryptocurrency for daily spending. 

9. Mobile and Desktop Apps

A functional app ensures that you can trade, track prices and manage your portfolio anytime. Rember, look for platforms with a user-friendly mobile app that include real-time price alerts, trade execution and wallet management. 

For advanced users, there’s also a desktop interface with detailed charting and trading tools. Having synchronized mobile and desktop experiences can make your trading experience much better. 

Conclusion

Choosing the best UK crypto exchange depends on your individual needs, trading experience and priorities. For beginners, platforms with simple interfaces like Coinbase or eToro are perfect. However, for advanced traders, they can look towards Binance and Kraken which offer more tools, lower fees and multiple other features. 

Always prioritize security regulation and transparency to protect your funds and personal information. Take your time to research, compare various platforms and see which one sits well within your requirements. The right exchange is not just about features, it’s about finding the one that you can trust and feel comfortable while using. Start your digital journey today with confidence!

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