Use our reviews and comparison table of the best Cryptocurrency exchanges regulated in the UK. You can compare accounts costs, minimum deposit and the number of cryptocurrencies on offer. Plus the different ways to buy and sell cryptocurrencies on exchange. Please Note: Investing in cryptocurrencies through a cryptocurrency exchange is very high risk, and there is a very high chance you may lose all your money.
Best Cryptocurrency Exchanges Compared
| Cryptocurrency Platform | Number of Cryptocurrencies | Costs & Fees | Minimum Deposit | GMG Rating | More Info |
|---|---|---|---|---|---|
 | 150 | 3.5% | $50 | See Offer Capital at risk |
|
 | 30 | 1.99% | $50 | See Offer Capital at risk |
|
 | 120 | 1% | From $50 | See Offer Capital at risk |
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Our Picks of the Best Cryptocurrency Exchanges Reviewed
Methodology: We have chosen what we think are the best cryptocurrency exchanges based on:
- over 20,000 votes in our annual awards
- our own experiences testing the crypto exchanges accounts with real money
- an in-depth comparison of the features that make them stand out compared to alternative cryptocurrency exchanges.
- interviews with the crypto exchange CEOs and senior management
eToro: Best Cryptocurrency Exchange For Investing
eToro is more of an investing platform, that just a cryptocurrency exchange, which makes it ideal for slightly longerterm crypto investors.
eToro has an excellent social trading feature where you can chat and see what other cryptocurrencies people are buying and what they think of them. Plus they have a range of pre-built crypto portfolios.
eToro won “best cryptocurrnecy platform” in our 2023 awards. The range of cryptocurrencies on offer is not as broad as other crypto exchanges, but we actually liked the way they stay away from the smaller, more unstable coins and provide an easy way to get exposure to the crypto markets.
As a multi-asset brokerage company that offers access to crypto, stocks, ETFs, forex, and more. It currently has over 23 million users on its platform. On eToro, users can buy and sell over 20 cryptoassets including Bitcoin, Ethereum, and XRP.
eToro Cryptocurrency Investing Review
Name: eToro Cryptocurrency Investing
Description: With eToro you can buy and sell cryptocurrency on their normal investment platform in USD or for advanced crypto investors you can deposit and withdraw crypto on the eToro crypto exchange.
Summary
A good all-around cryptocurrency investing platform, suitable for those wanting to invest in the most popular crypto coins.
Fees: The 1% fee for trading crypto is included in the buy-sell spread when you trade crypto.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Pros
- 120 cryptocurrencies
- $50 minimum deposit
- 1%* commission on crypto trading
Cons
- Accounts only in USD
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Pricing
(4)
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Market Access
(3.5)
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Online Platform
(4.5)
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Customer Service
(4)
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Research & Analysis
(4)
Overall
4Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Coinbase: Good For Buying Different Types of Cryptocurrency
Coinbase offers the most cryptocurrencies compared to other exchanges, which makes them a great venue if you are interested in spreading your risk or looking for more volatile cryptos with a higher risk/reward ratio.
Coinbase is a US-based cryptocurrency exchange that was founded in 2012. It currently has 73 million verified users and around 7.4 million active users. Its customers include retail investors, institutional investors, and ecosystem partners. At present, there are over 100 different cryptoassets on the Coinbase platform.
Coinbase Review
Name: Coinbase
Description: Coinbase is a cryptocurrency exchange that lets you buy and sell various cryptocurrencies like Bitcoin, Ethereum, Cardano and Solana. Coinbase was listed on the NASDAQ exchange in 2012 and claims to have over 108 million users in over 100 countries and process $159 billion in quarterly volume.
Summary
Coinbase is one of the largest cryptocurrency exchanges and is publically listed on the NASDAQ exchange. It offers access to large selection of cryptocurrencies that can be traded on it’s crypto exchange or withdrawn to a cryptocurrency wallet.
Pros
- Wide range of cryptocurrencies
- Publically listed company
- Exchange and withdrawals
Cons
- Very high-risk investment types
- You can lose all your money
- Cryptocurrency still unregulated
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Pricing
(3)
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Market Access
(5)
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Online Platform
(4.5)
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Customer Service
(3)
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Research & Analysis
(3)
Overall
3.7- Thinking about using Coinbase? Read our expert Coinbase review first.
Revolut: Best Crypto Exchange For Everyday Cryptocurrency
As Revolut is now a bank more than a crypto exchange, its app is a good way to dabble in the crypto markets if you just want to buy a small amount of the most popular cryptocurrencies.
Revolut Cryptocurrency Investing
Summary
A good choice if you are just dabbling in cryptocurrency and don’t need anything too complicated.
Fees: Crypto fees are reduced to 1.5% for Metal and Platinum account holders.
Pros
- 30 cryptocurrencies
- $50 minimum deposit
Cons
- 1.99% commission for base accounts are quite high
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Pricing
(4)
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Market Access
(3.5)
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Online Platform
(4)
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Customer Service
(3.5)
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Research & Analysis
(3.5)
Overall
3.7Other cryptocurrency exchanges
- Crypto.com. Crypto.com is a Singapore-headquartered crypto exchange that was founded in 2016. It currently has around 10 million users. Through the crypto.com platform, users can trade 200+ cryptocurrencies with 20+ fiat currencies using bank transfers or credit/debit cards.
- Kraken is a US-based crypto exchange that has around 6 million users. Founded in 2011, it is one of the oldest crypto exchanges in the world. At present, Kraken offers access to 50+ cryptoassets.
What is a cryptocurrency exchange?
A cryptocurrency exchange is an online platform that enables you to trade cryptoassets. Through these platforms, you can buy and sell cryptoassets such as Bitcoin, Ethereum, XRP, and Dogecoin. In this guide we have ranked and reviewed some of the largest cryptocurrency exchanges.
There are many different cryptocurrency exchanges in operation today and there’s no one exchange that’s best for everyone. When choosing a crypto exchange, there are a number of things to consider including the range of cryptoassets offered by each platform, fees, security features, educational features, and regulation. The best crypto exchanges make it easy to buy and sell the cryptocurrencies you’re interested in with low fees and a high level of security.
How does a cryptocurrency exchange work?
Cryptocurrency exchanges operate in a similar way to stock brokerage platforms, however, instead of matching buyers and sellers of stocks, they match buyers and sellers of cryptoassets.
Most crypto exchanges use an order book to match buy and sell orders. An order book is a list of all outstanding buy and sell orders, organised by price level. When a buyer is matched with a seller, the exchange executes the trade.
Some crypto exchanges allow you to trade one cryptoasset for another. These are known as crypto-to-crypto exchanges. Others, however, only allow you to trade fiat currencies such as the US dollar or the British pound for cryptoassets. These are known as fiat-to-crypto exchanges.
What are the different types of crypto exchanges?
There are two main types of cryptocurrency exchanges – centralised exchanges and decentralised exchanges.
Centralised Exchanges
A centralised exchange is managed by a corporate authority and is custodial in nature. Most popular crypto exchanges such as Coinbase, are centralised.
By contrast, a decentralised exchange distributes verification powers to anyone willing to join a network and certify transactions. These exchanges allow users to execute peer-to-peer transactions without the need for a third party.
Both centralised and decentralised exchanges have their advantages and disadvantages.
One major advantage of centralised exchanges is that they tend to be quite user-friendly. Most centralised exchanges provide easy-to-use websites and apps that make crypto trading quite straightforward. Another advantage is that they tend to be quite reliable.
On the downside, centralised crypto exchanges tend to charge relatively high transaction fees. Coinbase, for example, charges transaction fees of around 0.50% to buy cryptoassets such as Bitcoin and Ethereum (3.99% for credit card purchases). Centralised crypto exchanges are also often targeted by hackers and cybercriminals due to the fact they hold a lot of crypto on behalf of their customers. In 2014, one of the largest centralised crypto exchanges, Mt. Gox, suffered a major hack in which $460 million in customer funds was stolen.
Decentralised Exchanges
One advantage of decentralised exchanges is that they offer anonymity. Unlike centralised exchanges, which require users to complete know-your-customer (KYC) checks when opening an account, decentralised exchanges are anonymous and offer complete privacy. Another advantage is that there’s no hacking risk as these exchanges are not custodial in nature.
On the downside, decentralised exchanges do not facilitate the trading of fiat currencies for cryptoassets. This means they are not convenient for those looking to buy crypto with fiat currencies such as the British pound or the Euro. Decentralised exchanges also tend to lack liquidity. Only around 1% of crypto users transact through decentralised exchanges. This means that it can take some time for a trade to be executed.
Cryptocurrency Exchange Fees
Before trading with a cryptocurrency exchange, it’s important to understand the exchange’s fees. Crypto exchanges charge many different types of fees including:
- Trading fees. These are typically charged on both fiat-to-crypto trades as well as crypto-to-crypto trades. They vary from exchange to exchange and can be based on a combination of factors including the size of the trade, the selected payment method, and market conditions such as volatility and liquidity.
- Spreads. A spread is the difference between the cost to buy an asset and the cost to sell the same asset. Trading platforms often use spreads to generate extra fees. At present, Coinbase charges a spread of about 0.5% for cryptocurrency sales and purchases, however, this spread can change depending on market fluctuations.
- Withdrawal fees. Some crypto exchanges charge a fee to withdraw your money. In most cases, the fee is on a per withdrawal basis and not a percentage of the withdrawal amount. eToro, for example, currently charges a withdrawal fee of $5.
- Borrowing fees. Some crypto exchanges offer margin trading. This is where you can borrow money to increase the size of your position – a process known as using ‘leverage.’ Crypto exchanges that offer margin trading typically charge fees based on the amount borrowed. They often also charge an additional fee if a margin position is liquidated.
- Custody fees. These are fees that exchanges charge to hold customers’ assets. They vary from exchange to exchange. Coinbase currently charges a 0.5% p.a. fee on a monthly basis.
While fees are important to consider when choosing a crypto exchange, don’t automatically rule out a platform just because it has higher fees. Higher fees can be a worthwhile trade-off for a higher level of security and extra features such as educational content and investment tools.
Cryptocurrency Exchange Currencies
The fiat currencies you can use to buy cryptocurrency vary by exchange. Some exchanges, such as Coinbase and Binance, support a range of different fiat currencies including the British pound, the US dollar, and the Euro.
Others, such as eToro, only let you buy crypto in US dollars. This means that if you are based in the UK and the pound is your home currency, you will need to convert your pounds to US dollars on the platform before you trade.
Cryptocurrency Exchange Security
Cryptocurrency exchanges are increasingly being targeted by cybercriminals, so it pays to do your research into security when choosing a platform. In 2020, there were nearly 30 attacks on crypto exchanges, the largest of which resulted in more than $200 million worth of crypto being stolen from Singapore-based exchange KuCoin.
Most of the major cryptocurrency exchanges such as Coinbase and Binance now have advanced security features in place. One example of a security feature that is very common is two-factor authentication (2FA). With two-factor authentication, you need to provide additional information whenever you log in, such as a code sent to you by text message.
Many platforms also have crime insurance in place to protect themselves against losses from theft or cybersecurity breaches. This can protect you if the platform is hacked. This insurance will not protect you, however, from any losses resulting from unauthorised access to your personal account due to a breach or loss of your login details.
One way to reduce your risk when investing in crypto is to spread your investments across multiple exchanges. This could protect you if one exchange is hacked.
Another way to reduce risk is to move your cryptoassets off the exchange’s platform and onto your own secure ‘cold’ crypto wallet that’s not connected to the internet. Cold crypto wallets are much harder to hack, although you’ll need to remember your passcode or you could lose access to your cryptoassets forever.
It’s worth noting that at present, crypto exchanges are not regulated in the UK. This means that if you buy crypto, you are unlikely to have access to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS) if something goes wrong. If your cryptoassets are stolen or your platform goes bust, for example, no one is responsible for helping you get your money back.
Cryptocurrency Exchange Order Types
Most crypto exchanges allow you to place several different types of orders. The main types of orders are:
- Market orders. When you place a market order, the exchange executes your trade at the best available market price in the order book. An advantage of market orders is that they are usually executed quite quickly. A disadvantage is that they are sometimes executed at unfavourable prices.
- Limit orders. When you place a limit order, you instruct the exchange to execute your trade at a certain price (or better). An advantage of limit orders is that you always receive the price you want for your trades. A disadvantage is that they can take time to execute. If there is no matching buyer/seller to accept your price, your limit order will not be executed.
- Stop loss orders. When you place a stop loss order, you instruct the exchange to sell your cryptoasset when it reaches a certain price. Stop loss orders are designed to help traders minimise losses.
Crypto Exchange Transaction Limits
Most crypto exchanges have limits in place in terms of how much you can deposit, withdraw, and trade at once. These limits vary from exchange to exchange. They can also vary depending on where you are based and the type of account you have with the exchange.
With Coinbase, limits depend on your account level. For example, when you have a ‘Level 1’ account, the maximum trade size with 3D Secure (credit/debit card) purchases is £3,000. To increase your buy / sell limits, you may need to complete several verification steps and enable additional account features.
Crypto Exchange Deposits
There are several ways to fund purchases on crypto exchanges
The first way is via bank transfer. This will involve entering your bank details into the system. Bank transfer deposits generally take 1-3 days to go through so you usually can’t trade instantly.
The second way is via credit/debit card. This process tends to be instant meaning you can trade straight away. It’s worth noting, however, that some credit card companies do not allow you to buy crypto on their cards.
Usually, you have to provide some form of identification before you can fund your account or make a trade. These identification checks are for money laundering reasons.
Crypto Exchange FAQs
Cryptocurrency exchanges are increasingly being targeted by hackers, so it pays to be careful when using them.
One way to reduce risk is to use multiple platforms. Another way to reduce risk is to transfer your crypto assets off the exchange and onto a cryptocurrency wallet.
No, most crypto exchanges charge users fees. Fees including transaction fees, trading spreads, custody fees, withdrawal fees, and margin fees.
You can store your crypto on an exchange if it is centralised. However, storing crypto on an exchange is usually not recommended. Transferring your crypto to a crypto wallet is generally much safer.
Yes, since 2020, cryptocurrency exchanges are primarily regulated by the Financial Conduct Authority (FCA) via their Registered Cryptoasset Firms register. The FCA provide a searchable database of cryptocurrency exchanges they have checked and supervise.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
