Welcome to the Bulliscoming media article on the best crypto exchange UK.
Trading cryptocurrencies is one of the best ways to make a profit from the cryptocurrency industry. However, making enough profit from the crypto space doesn’t solely depend on trading but also depends on other factors, such as the crypto exchange used. The crypto exchange used is very important due to a lot of factors, such as security, transaction fees, and trading terms, among others.
There are a lot of cryptocurrency exchanges in the United Kingdom, but in this article, we’ll be delving into the best crypto exchange UK.
What is a Crypto Exchange?
A cryptocurrency exchange is a platform where users can buy, sell, and trade cryptocurrencies. Crypto exchanges make it possible for crypto users and investors to easily buy and trade currencies through the use of the internet and their mobile devices.
There are a lot of cryptocurrency exchanges that perform almost the same functions. However, some of these have some distinguishing factors that enable them to stand out from the crowd. These factors could include unique features, percentage of fees, security, customer reviews, etc.
Overall, the best crypto exchanges are gotten from an in-depth review of individual features, ease of use, and other distinguishing factors based on customer reviews.
Top 5 Best Crypto Exchanges UK
Since there are a lot of cryptocurrency exchanges out there, choosing the best crypto exchange in the UK can be quite difficult sometimes. This is because most of these crypto exchanges are poorly built and might be prone to hacking by malicious actors.
Based on in-depth research, some of the best crypto exchanges in the UK are listed below. It is important to note, however, that the crypto exchange you choose to work with is very important as it sometimes determines how profitable trading in the cryptocurrency markets will be.
Some of the best crypto exchange UK include:
- Binance UK
Binance is the world’s largest cryptocurrency exchange and has upheld a good reputation among crypto traders as one of the best cryptocurrency exchanges. It offers a range of services that are very beginner-friendly and can be easily traded on with a variety of trading metrics to better predict market movements and make better trading decisions.
Binance has a lot of amazing features, such as a P2P marketplace, instant buy and sell, a variety of trading features, and an easy-to-use interface. It is considered one of the safest platforms and the cheapest too, with trading fees as low as 0.1% maker and 0.1% taker fees.
Coinbase is one of the most popular cryptocurrency exchanges with over 30 million users, ranking the platform as one of the most well-known in the world. Coinbase is an American cryptocurrency exchange but also supports European users, allowing users to deposit funds into the platform directly using GBP and EUR deposit support.
Coinbase has an easy-to-understand interface and also provides insurance coverage for cryptocurrencies deposited on the platform. Although the platform has high security, it shares user data with tax authorities and has trading fees of 0.25% for takers and 0.15% for makers.
The platform is one of the easiest platforms to use and offers a suite of trading tools and features that are beneficial for both newbies and existing investors or traders. Its headquarters are located in London, United Kingdom, and it supports payment methods such as domestic wire transfer, debit cards (Mastercard and Visa), SWIFT, SEPA, Faster Payments, and Skrill.
The platform allows users to borrow fiat currency against the crypto assets they have deposited on the platform. The exchange also boasts high liquidity and allows experienced traders to use leverage of up to 100x.
This is also one of the best cryptocurrency exchanges in the UK. It offers a variety of features that allow users to easily access cryptocurrencies and create more use cases for cryptic even in the real world.
With the crypto.com debit card feature, users can pay for online streaming services such as Netflix, Spotify, etc. The debit card can be used for even more premium features, such as access to airport lounges, and discounts at Airbnb and Expedia.
Users can also earn from the platform using the earn feature, which rewards a weekly yield on over 40 cryptocurrencies and stablecoins.
eToro is a unique cryptocurrency trading platform with features that not only allow users to trade but also interact with each other and gain more knowledge. The platform is built more like a social media platform for brokers, with a news feed feature and also a copy trade option, where users can copy trades from some of the top traders on eToro.
eToro was one of the first cryptocurrency exchanges to create the copy trade feature to enable its users to follow the analysis trades of their top traders and make better trading decisions.
How to Choose the Best Crypto Exchange UK
It’s not only about knowing the best crypto exchange but choosing the right one to work with is equally as important. There are several features to look out for when choosing an exchange to work with, some of which will be listed below.
Some important factors to look out for when choosing a cryptocurrency exchange to work with include:
One of the most important features to look out for in a cryptocurrency exchange is the level of security on the platform. Crypto exchanges are among the most common targets for hackers in the blockchain space, and there have been several cases of exchanges getting hacked, leading to customers losing all their funds.
That is why it is extremely important to understand the level of security of the platform before committing any funds to the account. Some crypto exchanges take strict security measures to prevent such cases, like requiring strong passwords as well as the use of 2FA authentication just to ensure maximum security.
This is another very important factor to watch out for when choosing a crypto exchange. Transaction fees are charged from the client’s wallet when transactions within the platform are carried out.
The percentage of the transaction fees varies from platform to platform. Some platforms charge very low fees, while others can be on the high side.
Ease of use
The usability factor is put into consideration when choosing a platform to trade within the UK. Trading cryptocurrencies can be somewhat complicated, but there is a need for the crypto exchange to be easy to use and navigate so that even newbies can find their way around without getting very confused.
Some crypto exchanges can be very confusing to understand the interface or navigate through the platform, making it even more difficult for most people to access the cryptocurrency space.
Several cryptocurrency exchanges support varying types of cryptocurrencies. Some cryptocurrency exchanges support only a narrow list of cryptocurrencies, mostly just solid projects that have proven to last long in the cryptocurrency space, also called large and medium-cap cryptocurrencies.
Meanwhile, others support a long list of cryptocurrencies, including low-cap gems with the potential to grow or gain more adoption. However, these low-cap coins can prove to be riskier to trade with since they can either be rug pulled or lose liquidity.
The cryptocurrency exchange an investor decides to work with is very important because it can determine the success or failure of their trading journey. Although there are several different types of crypto exchanges in the UK, determining the best crypto exchange in the UK takes a lot of in-depth research and customer reviews to make the best decision.