If you’re wondering how to buy cryptocurrency in the UK, finding the right platform is crucial. The best crypto exchange in the UK not only offers a wide range of cryptocurrencies but also provides a user-friendly experience and competitive fees.
Also, it’s important to consider factors like FCA regulation and GBP transaction support to ensure a safe trading environment. In this guide, we will review the 8 best crypto trading platforms in the UK to help you make informed choices.
Key Takeaways:
- The best crypto exchanges in the UK are OKX, MEXC, Gate.io, Coinbase, Kraken, Crypto.com, eToro, and CoinJar due to FCA regulation, high security, and competitive fees.
- In the UK, cryptocurrency gains over £3,000 are subject to Capital Gains Tax (CGT) at rates of 10% for basic taxpayers and 20% for higher earners, as per HMRC guidelines.
- UK crypto traders can choose from centralized exchanges (CEX), decentralized exchanges (DEX), and peer-to-peer (P2P) platforms, each offering different levels of control and privacy.
List of Best Cryptocurrency Exchanges in the United Kingdom
We have reviewed multiple cryptocurrency trading platforms in the UK based on factors like fees, security, ease of use, FCA compliance, and features. Here is the list of our best crypto exchanges in the UK:
- OKX: Overall best crypto exchange in the UK
- MEXC: Best for zero-fee UK traders
- Gate.io: Best for advanced trading tools
- Coinbase: Best for beginners
- Kraken: Best for regulatory compliance
- Crypto.com: Best for crypto Visa card
- eToro: Best UK crypto broker
- CoinJar: Best for easy GBP deposits
Best Crypto Exchanges in the UK – Detailed ReviewOKX
OKX is the best crypto exchange in the UK. It allows you to access many services, from basic spot trading to more advanced options like futures, margin trading, and decentralized finance (DeFi) products. It supports over 350 different cryptocurrencies and 500+ trading pairs. The traders can also use advanced tools like trading bots, staking, and borrowing/lending services.
OKX is available through both mobile apps and desktop versions. This makes it convenient for traders, whether you prefer trading on the go or at your desk. OKX also offers low trading fees, starting at 0.08% maker and 0.1% taker. However, UK traders must follow the new rules set by the Financial Conduct Authority (FCA). These rules include a 24-hour “cooling-off” period for new users and a focus on managing trading risks.
It has also added a Web3 marketplace, where you can take part in DeFi, buy NFTs, or use decentralized apps (dApps). The staking feature offers returns as high as 20% on certain tokens, which might be appealing if you’re investing for the long term in the crypto market.
Pros
- A large variety of cryptocurrencies
- Low trading fees (starting at 0.08%)
- Advanced tools like margin and futures trading
- Staking and lending options with good returns
- High liquidity for large trades
Cons
- Challenging for beginners due to its many advanced features
- Not licensed by FCA to operate in the UK
MEXC is a popular cryptocurrency exchange that has been around since 2018, attracting millions of traders worldwide, including those from the UK. One of its main advantages is that it allows UK users to trade without completing the Know Your Customer (KYC) verification process, which is ideal if you prefer privacy. With this option, you can withdraw up to 10 BTC per day, which provides flexibility for most traders.
MEXC stands out with its low fees, making it one of the cheapest exchanges for UK traders. It offers 0% maker fees and occasionally runs promotions where you can trade futures contracts without paying fees. This makes MEXC a very cost-effective option, especially for frequent or high-volume traders.
The platform supports over 2,800 cryptocurrencies, from big names like Bitcoin and Ethereum to lesser-known altcoins. It also offers a range of trading options, including spot trading, futures, and copy trading.
Pros
- KYC is not mandatory for UK traders
- Withdraw up to 10 BTC daily without verification
- Extremely low trading fees, with occasional zero-fee offers
- Wide range of cryptocurrencies and trading options
- User-friendly mobile and desktop platforms
Cons
- Not regulated by the FCA
- Limited GBP deposit methods for UK residents
Gate.io is another UK crypto trading platform that offers a wide range of crypto features.
