Best Crypto Exchange in the UK May 2024

Zac McClure
ByZac McClure, MBAReviewed byAlex MilesUpdated on May 20, 2024 · minute read
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TokenTax content follows strict guidelines for editorial accuracy and integrity. We do not accept money from third party sites, so we can give you the most unbiased and accurate information possible.

  • Our expert reviews of the best cryptocurrency exchanges in the UK include top picks Binance, Gate.io, and Gemini. These reviews will help you find the right exchange for your goals and experience level. Our experts identified notable pros and cons so you can make an informed choice.

  • We applied a rigorous methodology when selecting these exchanges, considering factors that include security, supported crypto pairs, fees, and regulation. Always do your own research and know the risks involved, in addition to potential tax consequences, before investing in crypto.

Our top picks for the best crypto exchanges in the UK of 2024

The UK has long been a hotspot for financial innovation, with cryptos lately taking center stage. For those interested in crypto, finding the right exchange is critical. We've identified the top contenders for the best crypto exchange in the UK, considering factors like fees, security, supported cryptocurrencies, and ease of use.

Our selections cater to experienced traders and those fresh to crypto. Here are our top three picks, followed by a complete list with reviews and pros and cons for each selection.

Coinbase

Coinbase

Best UK crypto exchange for new crypto users

Gate.io

Gate.io

Best UK crypto exchange for new assets

Gemini

Gemini

Best UK crypto exchange for total beginners

Best crypto exchanges in the UK reviews

Here are our expert reviews of the best crypto exchanges in the UK, with pros and cons to help you quickly identify the best exchange for your goals in crypto. Always do your own research and understand the risks involved before trading crypto, and connect with one of our crypto tax professionals with questions about tax filing, planning, and strategy.

Binance

Best UK crypto exchange for active traders

Binance, established in 2017, has locked in a position as the global crypto exchange leader. It stands out with a broad spectrum of supported assets, a massive user base, and impressive liquidity. UK investors seeking active crypto trading will find over 350 cryptocurrencies on the platform. Furthermore, selected trading pairs, including BTC/GBP, offer zero-commission trading. Binance also presents a sliding scale of trading fees, starting at 0.1%, which reduces with increased trading volume.

-  Pros & Cons

Pros

  • Extensive selection of cryptocurrencies

  • Zero-commission trading on BTC/GBP pair

  • Ideal for active traders

  • Near-instant UK bank transfers at a minimal fee of £1

  • Accepts both debit and credit cards

Cons

  • Not all crypto markets offered by Binance are accessible to UK residents

-  Why our experts picked it

We like Binance for its unmatched variety of cryptocurrencies and competitive trading fees, making it a compelling choice for traders who appreciate diverse options and cost-efficiency. It’s the biggest crypto exchange in the world for a reason.

Bitstamp

Best best cryptocurrency exchange in the UK for basic trades

Bitstamp, founded in 2011, is a Luxembourg-based cryptocurrency exchange offering UK users a straightforward and accessible trading experience. With a curated selection of 81 cryptocurrencies, Bitstamp prioritizes quality over quantity. Although it may not be the most cost-effective exchange, its transparent fee structure ensures users are fully informed.

-  Pros & Cons

Pros

  • Established presence since 2011

  • Presence of a UK office

  • Direct customer support through phone

Cons

  • Notable 5% surcharge on credit card deposits

-  Why our experts picked it

We like Bitstamp for its dependability over time and commitment to providing an uncomplicated trading experience. The UK office and phone support add an extra layer of trust and accessibility.

Coinbase

Best UK crypto exchange for new crypto users

Coinbase, born in California in 2012, stands as one of the most recognized names in the cryptocurrency realm. With over 100 million users, Coinbase is renowned for its unwavering dedication to security and user-friendliness. The platform's remarkable achievement is storing 99% of crypto assets in cold storage. It provides an educational app alongside its exchange services.

-  Pros & Cons

Pros

  • Long-standing reputation for high security

  • Up to 5% APY available through crypto staking

  • Comprehensive learning resources, with opportunities to earn free crypto by completing modules

Cons

  • Relatively costly two-fold fee structure based on trade size and payment method

-  Why our experts picked it

We like Coinbase for its robust security measures, user-oriented interface, and informative resources, making it suitable for both beginners and experienced traders. The ability to stake cryptocurrencies adds to its appeal.

Crypto.com

Best cryptocurrency exchange in the UK for user experience

Founded in 2016, Crypto.com is recognized for its user-centric interface and an extensive range of 250+ cryptocurrencies. The platform prioritizes security, offering industry-leading insurance coverage, and introduces features such as staking and borrowing. However, please be cautious as trading fees may vary, and instant buy credit/debit purchases incur additional charges.

-  Pros & Cons

Pros

  • A vast user base, totaling 70 million users

  • Features like Crypto Earn for staking and Crypto Lend for borrowing

  • An intuitive and appealing user interface

Cons

  • Varied trading fees based on transaction type

  • A 2.99%+ fee is applied to instant buy credit/debit purchases

  • Costs associated with SWIFT deposits and withdrawals

-  Why our experts picked it

Crypto.com secures our approval due to its sleek and user-friendly interface, unwavering commitment to security, and the availability of services like staking and lending. It represents a top choice for those who value an enjoyable user experience and versatile financial services in the cryptocurrency space.

eToro

Best UK crypto exchange for safety

Since its inception in 2007, eToro has serviced more than 25 million customers over 16 years, earning the distinction of the top UK crypto exchange in 2023. The platform provides a diversified asset array that includes cryptocurrencies, stocks, indices, commodities, currencies, and ETFs.

-  Pros & Cons

Pros

  • A straightforward 1% commission on crypto trades

  • A full-service provider offering diverse assets, including stocks, ETFs, and commodities

  • No complications with transferring GBP from a UK bank

  • Features social trading elements, making it ideal for beginners

  • A low minimum trade requirement of $10

  • Demonstrates a clean security record

Cons

  • Imposes a flat $5 withdrawal fee

-  Why our experts picked it

eToro stands out by offering a wide selection of assets, affordable trading fees, and social trading elements, catering to both beginners and experienced traders. The uncomplicated fee structure, low minimum trade requirement, and robust security record augment its appeal.

Gate.io

Best UK crypto exchange for new assets

Gate.io, established in 2013, was the inaugural cryptocurrency exchange in China, later relocating to the Cayman Islands. It now ranks among the top global exchanges. With a portfolio of over 1,400 cryptocurrencies and 2,500 trading pairs, Gate.io stands out for investors seeking exposure to emerging crypto assets.

-  Pros & Cons

Pros

  • Over 1,400 cryptocurrencies available for trading

  • Supports P2P trading with GBP payment options, including Visa/Mastercard, ApplePay, and Google Pay

  • Earns recognition for endorsing promising new crypto Initial Coin Offerings (ICOs)

  • Presents a $100 voucher for new joiners and keeps fees competitive with a maximum of 0.2%

Cons

  • Excludes the option to withdraw fiat, crypto-only withdrawal

-  Why our experts picked it

We like Gate.io for its extensive cryptocurrency range and reputation for supporting new ICOs, making it an attractive exchange for traders seeking diversification through emerging digital assets. The new joiner voucher and competitive fees enhance its overall value.

Gemini

Best UK crypto exchange for total beginners

Established in 2014, Gemini stands out for providing a beginner-friendly experience and a selection of 100 cryptocurrencies. However, the platform's sliding fee structure can be relatively costly, which may affect some users' preferences.

-  Pros & Cons

Pros

  • Boasts a sizable user base

  • Offers an advanced platform, Gemini ActiveTrader

  • Features a transparent fee system for GBP transactions

Cons

  • Imposes a debit card deposit fee

-  Why our experts picked it

We like Gemini for its intuitive user experience and transparent fee structure, making it a suitable choice for beginners looking to enter the cryptocurrency space. Accessibility and a range of payment methods further augment its appeal.

Kraken

Best UK crypto exchange for security

Based in San Francisco, California, and introduced in 2013, Kraken enjoys a reputation for high security and a solid user experience. UK users find a welcoming environment on this exchange. With a 24-hour trading volume of $883 million, Kraken stands as one of the top cryptocurrency exchanges worldwide. Kraken has never experienced a security breach and regularly audits to prove reserve balances.

-  Pros & Cons

Pros

  • Notable emphasis on security

  • Kraken Pro offers an advanced trading platform

  • Offers extensive crypto staking options with rewarding APY rates

Cons

  • Some users have reported extended wait times for deposits, withdrawals, and customer support

-  Why our experts picked it

We like Kraken for its commitment to high-level security measures, solid trading options, and attractive staking opportunities. Its established reputation and dedication to user safety make it a solid choice for UK-based traders.

OKX

Best UK crypto exchange for mobile

Launched in 2017 and based in the Seychelles, OKX boasts a range of 350+ cryptocurrencies and offers a wide array of crypto finance options. It's known for its user-friendly smartphone app.

-  Pros & Cons

Pros

  • 350+ coins

  • 20 million global users

  • Highly-rated smartphone app

Cons

  • Chatbot customer service only

-  Why our experts picked it

OKX's vast cryptocurrency selection, wide range of crypto financial services, and highly-rated smartphone app make it a robust choice for UK investors looking for versatility and ease of use in their trading experience.

What is the safest crypto exchange in the UK overall?

When it comes to the safest crypto exchange in the UK, eToro stands as the most secure choice. With rigorous regulation by the FCA, comprehensive security protocols, and a well-established track record, it distinguishes itself as a platform that prioritizes safety for cryptocurrency trading.

Different types of exchanges in the UK

Crypto exchanges in the UK take various forms, including order book exchanges that facilitate trades between buyers and sellers on their platform and brokerage platforms like eToro that simplify direct crypto purchases. Each type offers distinct features to cater to diverse user preferences.

Which UK crypto exchange has the lowest fees? 

When evaluating fees, Binance emerges as one of the top contenders. It offers some of the lowest trading fees, with the potential for zero-commission trading on specific pairs. However, it's important to consider additional factors such as deposit fees and the range of available cryptocurrencies when making your selection.

Note, however, that in October 2023, Binance stopped accepting new users in the UK to comply with the FCA. Despite Binance's prior partnership with Rebuildingsociety.com for ad approval, the FCA recently stated that the firm was not authorized for crypto ad approvals.

Binance is working with the FCA to find another authorized entity for ad approval. Existing UK users who have completed the required “Investor Declaration and Appropriateness Test” tests will still have access to services but cannot access new products and services during this period. Going into 2024, crypto users in the UK will want to check for updates regarding Binance's status.

What is the best crypto exchange in the UK for beginners?

For crypto beginners, Gemini is our choice for the best crypto exchange in the UK. It boasts a user-friendly interface and robust security measures, making it an excellent entry point for individuals new to cryptocurrency trading.

Final verdict about the best UK crypto exchange in 2024 

Finally, the best crypto exchange in the UK for you will depend on your individual requirements, goals, and priorities in crypto. Whether you prioritize variety, low fees, mobile accessibility, or user-friendliness, you'll find a suitable platform among our top recommendations.

It's essential to conduct your research before investing in cryptocurrencies. When you require support with cryptocurrency taxes, consider collaborating with one of our crypto tax experts for added guidance.

Schedule a FREE crypto tax consultation

Best UK crypto exchange FAQs

Here are answers to frequently asked questions about the best crypto exchanges in the UK. 

What is a crypto exchange?

A crypto exchange is a digital platform that enables users to purchase and sell a variety of cryptocurrencies. It operates similarly to traditional stock exchanges, allowing users to create accounts, deposit funds, and engage in cryptocurrency trading. 

How do UK crypto exchanges work?

UK crypto exchanges serve as intermediaries that connect users with cryptocurrency markets. Some exchanges facilitate matches between buyers and sellers, while others, such as eToro, function as brokers, permitting direct cryptocurrency purchases without the need for matching. 

Which UK crypto exchange is the safest? 

eToro is one of the safest crypto exchanges in the UK due to its stringent FCA regulation, robust security measures, and strong reputation within the industry. 

What are the largest crypto exchanges in the UK? 

Binance is one of the UK's largest and most prominent crypto exchanges, boasting a vast user base, significant trading volume, and ample liquidity. It is tailored to active traders and cryptocurrency enthusiasts.

Note, however, that in October 2023, Binance stopped accepting new users in the UK to comply with the FCA. Looking forward to 2024, UK crypto users should check for updates regarding Binance's ongoing status in the country.

To stay up to date on the latest, follow TokenTax on Twitter @tokentax.

TokenTax reviews take an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

Zac McClure
Zac McClureCo-Founder & CEO at TokenTax
Zac co-founded TokenTax after his career in international finance and accounting at JPMorgan, Imprint Capital and Bain. He has worked in more than half-dozen countries and received his MBA from the UPenn Wharton School.
Alex Miles
Reviewed byAlex MilesCo-Founder at TokenTax
Prior to TokenTax, Alex worked as a Product Designer at Dropbox and before that Readmill (acquired by Dropbox). He holds a BS in Digital Information Design - Interactive Media from Winthrop University.

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