In the quest to invest or trade cryptocurrencies like Bitcoin, Ethereum, and Litecoin, UK-based investors are spoilt for choice as the crypto market grows exponentially every year. The key challenge lies in identifying the best cryptocurrency exchange that caters to your specific needs whether beginner, seasoned trader, or simply seeking hassle-free trading experience. This article aims to shed light on the top 6 cryptocurrencies exchanges in the UK for 2021, based on user reviews and regulatory compliance.
1. CoinJar - The OG of Cryptocurrency Exchanges
CoinJar is one of the oldest and most trusted cryptocurrency platforms in the UK, having been operating since 2013. It boasts a user-friendly interface suitable for both novice investors and experienced traders. CoinJar's advanced features include its crypto debit card, allowing users to make payments with cryptocurrencies directly. The exchange is registered with the Financial Conduct Authority (FCA), ensuring high levels of security and compliance.
2. Gemini - Security First
Gemini stands out for its rigorous approach to user security, having been approved by the UK's FCA since 2016. Its focus on security is reflected in features such as two-factor authentication and cold storage wallets. Gemini offers a wide array of cryptocurrencies including Bitcoin, Ethereum, and Litecoin, making it suitable for traders looking for diversified portfolio options.
3. Binance - The Least Expensive Option
Binance is known for its low fees and extensive list of cryptocurrencies available for trading. Founded in 2017, the exchange is registered with the UK's FCA and has a user-friendly interface that caters to both beginners and advanced traders. Binance is renowned for its innovative tokenization feature which allows users to trade fractional shares of Bitcoin and Ethereum directly on their platform without going through complex processes.
4. Bitstamp - Ideal for Ether (ETH) Trading
Bitstamp, founded in 2013, is one of the oldest exchanges in the UK market. It is particularly well-suited for investors interested in trading Ethereum due to its high volume and low spreads on this particular cryptocurrency. Bitstamp's interface is simple yet robust, offering a range of deposit methods including bank transfer and credit card payments.
5. Huobi - The Best for Trading ERC20 Tokens
Huobi, also established in 2013, has gained recognition for its support of various ERC20 tokens, making it an ideal platform for traders interested in Ethereum-based cryptocurrencies. Huobi is registered with the UK's FCA and offers a range of deposit options including bank transfer and mobile wallet payments. The exchange boasts a comprehensive trading platform suitable for both novice and experienced investors.
6. OKEx - Best User Experience
OKEx has gained recognition in the UK market for its user-friendly interface, making it an excellent choice for beginners looking to enter the cryptocurrency world without facing steep learning curves. Founded in 2017, this exchange is registered with the UK's FCA and offers a broad range of cryptocurrencies suitable for both retail and institutional investors.
In conclusion, choosing the best crypto exchange in the UK depends on individual needs. Investors seeking security should consider Gemini or CoinJar; those looking for low fees might prefer Binance; Ether trading enthusiasts would benefit from Bitstamp; Ethereum-based tokens traders can opt for Huobi; and beginners might find OKEx to be their most accessible entry point into the crypto market. It is crucial to conduct thorough research, including reviews of customer experiences, before making a final decision.