Last updated on August 14th, 2023 at 08:02 pm
In recent times, more businesses and individuals are interested in using digital currencies for their transactions in the United Kingdom.
A survey by the Financial Conduct Authority (FCA) in 2021 revealed that the awareness of cryptocurrencies among UK consumers increased from 42% in 2019 to 78% in 2021.
In this article, we will explore the top crypto exchanges in the UK, their features, and what sets them apart from their competitors, helping you make an informed decision when choosing cryptocurrency trading platforms.
With more than 115 cryptocurrencies available for trade, Uphold is a multi-asset brokerage platform and UK-based cryptocurrency exchange.
From well-known cryptocurrencies like Bitcoin and Ethereum to meme coins, DeFi coins, and stablecoins.
It’s challenging to find a better variety, especially if you want to trade emerging cryptocurrencies yet available on other exchanges.
For cryptocurrency trades, Uphold does not charge a commission, but it does charge a variable spread.
The spread varies for every cryptocurrency and is subject to market conditions.
However, for well-known cryptocurrencies, it often ranges between 0.8% and 1.2%. When you evaluate an order and choose whether to make a trade, you can examine the current spread for any digital currency.
There are a few ways in which Uphold differs from other cryptocurrency exchanges. It takes pride in being transparent, for starters. Users can look up the amount of cash Uphold has set aside as a cushion against market fluctuations and customer withdrawals at any moment.
You can trade Bitcoin on the cryptocurrency exchange on Margex with up to 100x leverage.
Margex is exempt from the UK’s restriction on cryptocurrency derivatives because it functions similarly to other forms of margin trading.
You can select your leverage and see the price level at which your trade will be liquidated when you open a margin trade with Margex. Also, by identifying your maximum risk, you may trade more wisely.
A cutting-edge cryptocurrency trading platform with a ton of technical Bitcoin trading tools is available from Margex.
Margex charges reasonable commissions when trading Bitcoin. When you add liquidity to the market, you’ll pay 0.019%; when you take it away, you’ll pay 0.060%. You can trade long or short for as little as £1 at a time.
Huobi, which is similar to Binance in that it focuses on passive income, is one of the top cryptocurrency exchanges in the UK.
You will deposit money into its crypto savings accounts, which are used to make loans possible.
You will receive an alluring interest rate in exchange. For instance, many supported tokens provide APYs of greater than 100%.
Every time you make a purchase on Nexo, you receive incentives. You can store your coins on Nexo to increase your wealth through passive interest payments and exchange 60+ cryptocurrencies to earn rewards of up to 0.5% on each transaction.
Nexo is a crypto exchange with a mobile app which lets you trade anywhere, anytime. It has the added benefit that any cryptocurrency stored in your account automatically starts to generate interest because every trade is locked in at the rate you see on your screen, protecting you from price slippage.
The Nexo spending card, which enables you to spend the value of your digital assets without selling them, has started to be distributed.
The card offers numerous payback options, an instant 2% reward on all transactions, and acceptance by more than 40 million merchants globally.
By using crypto assets as security for the loan, this function enables customers to receive a line of credit.
Since it is a collateralized loan, there are no background checks or other prerequisites for acceptance. Customers are free to use the money immediately after having it deposited into their bank account or online wallet.
It has been operating since 2013, making CoinJar one of the oldest and best cryptocurrency exchanges in the UK.
They presently provide over 50 cryptocurrencies for trading and have over 600,000 customers.
Despite security breaches around some crypto exchanges in the past, so far, there have been no hacks or breaches at CoinJar. Multi-level data encryption, BitGo custodian for cold storage, and multisig for hot wallets are all included in CoinJar’s security measures.
They have FDA registration and full cash reserves available at all times. On its site, CoinJar provides more than 50 distinct cryptocurrency trading alternatives.
The minimum deposit amount in CoinJar is £5, and the maximum withdrawal amount is set monthly but varies according to each user’s account level.
Exness provides a wide selection of professional-style trading tools and account types to accommodate traders of all skill levels.
While more seasoned traders can utilize the Exness terminal or connect it to the MetaTrader software and trade from there, beginners can benefit from a free demo account or micro-lots for minimal trades.
Exness is a trustworthy and reputable broker, receiving numerous accolades for its services. Prominent financial regulators authorize it, and Deloitte certifies its financial reports.
Along with being transparent and making its performance information readily available, Exness also has a solid regulatory framework.
It offers pricing transparency on all instruments, allowing you to view the price history of any asset you want to trade.
AQRU is a part of Accru Finance Ltd, a financial company with offices in London that enables clients to earn dividends on their cryptocurrency holdings.
The platform currently supports five cryptocurrencies, and AQRU’s payment gateway can be used to buy any of them.
Users can quickly earn interest on their assets by funding their AQRU account in BTC, ETH, USDT, USDC, or DAI.
In contrast to typical savings accounts, AQRU pays up to 12% annual interest on stablecoin deposits and 7% on BTC or ETH deposits. Significantly, there are no lock-up periods to worry about, and interest is paid daily.
The top payment processor MoonPay makes it easy to buy cryptocurrency through the AQRU platform.
While AQRU doesn’t charge any fees for its yield-generation services, using MoonPay to purchase cryptocurrencies may incur some third-party costs.
The increasing popularity of cryptocurrencies in the UK has led to the emergence of several exchanges to meet the needs of traders. The aforementioned are among the best crypto exchanges in the UK you might want to try out in case you want to dive into the world of crypto trading.