Looking for the best platform to get into the crypto market? Overwhelmed by all the available options? Fret not. Because we went through all the crypto exchanges and trading platforms registered with the Financial Conduct Authority (FCA) for you.
Our criteria for preparing this list included fees, user experience, supported payment methods, and support for different crypto assets.
To begin with, there is no such thing as one size fits all. The right crypto exchange for you will depend on your needs.
This article will introduce you to 7 crypto exchanges that came on top in our findings. Choose the one that fits your bill.
eToro
During our use, eToro turned out to be the best overall cryptocurrency exchange in the UK. There was a lot to love about the eToro exchange.
To begin with, eToro offers one of the lowest fees in the industry with all the features up its sleeve. The platform also stood out as one of the best for beginners, offering a copy trading feature that allows users to mimic the strategies of a trader of choice.
With support for 70+ popular cryptocurrencies, you might not be able to buy one of those new ones out there but it will be enough for most people’s needs.
Moreover, it offers other investment vehicles like stocks, ETFs, indices, and commodities. eToro is also one of the most trusted exchanges in the UK.
CoinBase
Launched way back in 2012 and with a user base of over 100 million, CoinBase is one of the best for novices.
The platform supports debit cards, although it will attract a hefty 3.99 percent transaction fee. That said, with 2-factor user login authentication, CoinBase is one of the most secure crypto trading platforms out there.
The exchange also stores almost all of its crypto assets offline and offers a mobile app that has a wallet. With support for over 250 cryptocurrencies, CoinBase can be a good option for even seasoned investors.
Kraken
With a trading fee starting from 0.16%, Kraken has attracted over 9 million crypto traders and investors. Kraken has a dynamic fee structure, offering fee cuts for large volumes.
The platform also offers instant crypto buying, attracting a higher 1.5% fee. Stablecoin transactions are offered at a 0.9% fee. With a low entry barrier of a $1 minimum deposit, Kraken supports over 220 cryptocurrencies.
The platform also stands tall as a major cryptocurrency exchange that has yet to face a security breach. Kraken stores over 95% of its assets in cold storage.
Though the exchange attracts a 3.75% fee on debit card transactions, it remains one of the best trading platforms for professionals.
Binance
Thanks to its rock-bottom fees and support, Binance is a crowd-favorite among cryptocurrency exchanges, making it the largest of them in the world, by user base and trading volume.
Trading on Binance will attract a 0.1% standard trading fee. If you are transacting with Binance Coin, you will get another 25% reduction in charges. You can make deposits via credit cards or bank transfers and now support margin trading.
For security, the platform supports 2-factor authentication and has a Secure Asset Fund for Users (SAFU) in place to make up for any unforeseeable hacks to the system.
Gate.io
On the official website, they call themselves the crypto gateway. The platform offers over 1500 crypto assets to choose from and supports other financial instruments.
Gate.io offers spot trading, margin trading, futures, and options trading. It supports over 2700 trading pairs. Apart from being a crypto exchange, the platform also offers cloud mining.
One thing that stood out to me is the platform’s no-lower-limit policy on deposits. It is one of the best for low market-cap cryptocurrencies. Gate.io also offers smartphone apps, albeit with limited functionality.
Crypto.com
Crypto.com supports over 200 cryptocurrencies and offers a crypto wallet, a Visa debit card, a staking platform, and a smartphone app along with its trading services.
Crypto.com is pro-DeFi has a built-in NFT marketplace and supports crypto loans. With support for spot trading, futures, OTC trading, and perpetual contracts, the platform wouldn’t disappoint even the most advanced traders.
At 0.075%, Crypto.com has the lowest fee in the crypto industry and provides fast order matching, thanks to high liquidity.
KuCoin
With a user base exceeding 30 million and a daily trading volume close to $3 billion, KuCoin is a leading player among crypto exchanges.
The platform supports transacting via peer-to-peer transfers or good old cards. KuCoin has over 700 cryptocurrencies to choose from and a 0.1 percent spot fee.
The platform offers cryptocurrency deposits via KuCoin Earn. Additionally, it serves as an NFT exchange platform, offers automated trading, and up to 125x leverage on Futures trading. In recent years, KuCoin also earned a reputation for copy trading.
As always, keep in mind that the crypto market is extremely volatile and is considered a risky investment. The contents of this article are meant for informational purposes only.
We encourage the reader to develop a comprehensive understanding of blockchain technology and the crypto market dynamics before diving head-first into the space.
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