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Navigating the intricate world of Bitcoin trading can be daunting. That is because you must find the best service provider, which can be strenuous and tricky since many are available in the UK. But since that is indispensable, our team decided to make things easier for you by evaluating the available companies and picking the best Bitcoin trading platform UK. Our chosen platforms are regulated by the FCA and have positive attributes where fees, online reputation, and other indispensable factors are involved.
Bitcoin, the harbinger of the crypto era, has made many individuals filthy rich. Popular examples range from Tim Draper to Matthew Roszak and Brian Armstrong. You, too, can make a fortune from this crypto, especially through trading. But you need substantial capital and sufficient knowledge. Furthermore, you need a credible and reliable Bitcoin trading platform.
Finding an outstanding BTC exchange in a region like the UK can be difficult since the market is saturated with innumerable options. But don’t worry. Our experts have analysed the available companies, compared them against each other, and picked the best Bitcoin trading platform UK. We scrutinised numerous elements while vetting available service providers, including regulatory status, fees, and online reputation.
List of the Best Bitcoin Trading Platforms UK
- Coinbase – Overall Best Bitcoin Trading Platform UK
- eToro – Best UK Bitcoin Trading Platform for Beginners
- Crypto.com – Best UK Bitcoin Trading Platform for Comprehensive Services
- Kraken – Best Platform for BTC Spot Trading in the UK
- OANDA Crypto – Best Platform for Low-Cost BTC Trading
In This Guide
UK Bitcoin Trading Platforms: Comparison Table
A large chunk of the hundreds of crypto exchanges available in the UK support Bitcoin trading. That said, our primary goal is to introduce you to the cream of the crop. So, how did we pick the platforms to include in our guide?
As professionals in our field, we’ve mastered the art of evaluating countless service providers and isolating the best. Our experts applied their exceptional skills and dedicated a humongous amount of time to vetting different exchanges and identifying the most outstanding. Numerous vital factors, including licensing, fees, and assets, influenced our decisions. Online testimonials published on the App Store, Google Play, and Trustpilot also helped us separate the wheat from the chaff.
The following comparison table shows the first category of factors we considered when choosing the best Bitcoin trading platforms in the UK.
| Best Bitcoin Trading Platform | Platform Type | Support Service | Supported Coins | Digital Wallet | Demo Account |
|---|---|---|---|---|---|
| Coinbase | Centralised | 24/7 | 200+ | Yes | No |
| eToro | Centralised | 24/5 | 100+ | Yes | Yes |
| Crypto.com | Centralised | 24/7 | 350+ | Yes | No |
| Kraken | Centralised | 24/7 | 200+ | Yes | Yes |
| OANDA Crypto | Centralised | 24/5 | 18+ | No | Yes |
Platforms Short Overview
Don’t worry; we didn’t ignore fees and charges. As seasoned traders, our experts know that high costs have a detrimental effect on your profit margins. Consequently, we vetted every Bitcoin trading platform’s fees and charges. Additionally, we checked if they support the most sought-after crypto assets today besides Bitcoin, like Ethereum, Litecoin, and Ripple. Take a look at the comparison tables below to learn more.
Fees
| Best Bitcoin Trading Platform | Fees | Minimum Deposit Requirement |
|---|---|---|
| Coinbase | 0.1% processing fee, Up to 60bps/40bps taker/maker fees | £1,000 |
| eToro | 1% flat fee for buying and selling BTC | £100 |
| Crypto.com | Up to 0.0000%/0.2640% maker/taker fees, 0.5% margin trading fee | £0 |
| Kraken | Up to 0.25%/0.40% maker/taker fees, 0.01% margin trading fee for opening a position, 0.01% rollover fee | £1 |
| OANDA Crypto | Up to 0.35% trading fee, 0.0005 BTC withdrawal fee | £0 |
Assets
| Best Bitcoin Trading Platform | Bitcoin | Ethereum | Litecoin | Ripple | Tether | Solana |
|---|---|---|---|---|---|---|
| Coinbase | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto.com | Yes | Yes | Yes | Yes | Yes | Yes |
| Kraken | Yes | Yes | Yes | Yes | Yes | Yes |
| OANDA Crypto | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert’s Opinion about the Best Bitcoin Trading Platforms UK
To us, the best Bitcoin trading platforms are entities that are regulated by the FCA and have a good track record. These platforms have friendly fees, clear conditions, and support popular crypto assets. Additionally, their strengths outweigh their cons. Our top choices have these qualities and more. Let’s explore them in detail.
1. Coinbase – Overall Best Bitcoin Trading Platform UK
Our overall best Bitcoin trading platform is Coinbase. Why? Founded in 2012, this company has built an unshakable reputation and now caters to millions of registered users. It’s also available in over 100 countries and boasts around £312 billion worth of quarterly volume trades. If you seek an established platform guaranteed to protect your assets and provide outstanding services, this is it.
With a Coinbase account, you can buy, sell, and trade Bitcoin and 200+ altcoins. As a Coinbase user, you can rest easy knowing you’re interacting with a publicly traded crypto company with a market cap of over 54 billion. Moreover, you can enjoy taker/maker fees as low as 5bps/0bps when your trading volume exceeds £400 million.
We also consider Coinbase an exceptional exchange since it has a user-friendly interface and robust mobile apps. That makes it a fitting solution for novices and experienced crypto traders. Coinbase also lets its users stake specific crypto assets and earn juicy rewards.
Coinbase
✔Authorised and regulated by the FCA
✔No account inactivity fee
Pros & Cons
Fees
Trading Assets
Pros
- Intuitive interface with optimum user-friendliness
- Low fees for high-volume Bitcoin traders
- Excellent 24/7 customer support
- Reasonable crypto staking rewards
- Wide range of altcoins for portfolio diversification
Cons
- £25 fee for SWIFT deposits
- High minimum deposit requirements for UK residents
- Limited payment methods in the UK
Creating and maintaining a Coinbase account is free. We used that fact to our advantage by opening a new account and using it to test the Coinbase exchange. While exploring and evaluating this platform, we stumbled upon a few other noteworthy details.
For starters, Coinbase allows its users to store their FIAT and digital assets on the platform free of charge. Moreover, the company’s clients can transfer crypto to and from different primary balances at no cost.
That said, this company requires its users to pay a stipulated fee when transferring crypto from their Coinbase wallets to other digital wallets. The exact charges depend on factors like the prevailing network fees. Moreover, all Coinbase users must cover a 0.1% processing fee while using the Lightning Network to send Bitcoin from the exchange.
Coinbase also requires investors and traders to cover specific fees while buying, selling, or converting crypto on the exchange. Numerous factors, including your order size and preferred payment method, will determine the costs you’ll incur while partaking in such ventures. You should always use the preview screen to view the fees you are supposed to cover before placing an order.
Not to forget, this exchange includes a spread in every quoted price. Expect to cover this expense whenever you place simple buy/sell orders. If you want to avoid paying the spread, switch to Coinbase Advanced, where you can interact with the order book without an intermediary.
Finally, Coinbase charges maker fees starting from 0bps and taker fees starting from 5bps. And although some payment methods, like ACH, offer free deposits and withdrawals, most require Coinbase users to pay transaction fees. For instance, when withdrawing GBP with Swift, you must pay a £1 withdrawal fee.
2. eToro – Best UK Bitcoin Trading Platform for Beginners
Trusted by millions, eToro is, in our opinion, the best BTC trading platform for beginners in the UK. This exchange has a simplified, user-centric interface. If you’re new to crypto trading, getting started will be easy once you sign up with eToro. You will be able to explore all available assets, including Bitcoin, seamlessly.
Not to forget, eToro has an outstanding known as the eToro Academy. If you are new to crypto trading, start your journey here. Take all essential courses, including Investing 101, Building Your Portfolio, and Crypto for Beginners. The lessons therein will introduce you to the most fundamental concepts in crypto trading and investing. Additionally, study all crypto-related guides and tutorials.
After completing relevant courses, open an eToro demo account and practice your crypto trading skills. You’ll get £100k virtual funds for practising in a risk-free environment. Once you start trading with a live account, you’ll enjoy perks like zero minimum deposit requirements and a flat, convenient 1% buy/sell fee.
eToro
✔5000+ financial instruments
✔Cost-free deposits
Pros & Cons
Fees
Trading Assets
Pros
- Remarkable academy and educational materials
- Free fiat deposits
- A low, fixed buy/sell fee
- Easy-to-use crypto wallet
- A broad range of additional instruments available, including real stocks
Cons
- Every fiat withdrawal request incurs a £5 fee
- £10 account inactivity fee
If there’s anything that can eat away at your profit margins, it’s unnecessary costs. Thankfully, eToro fees UK are reasonable and pocket-friendly. We acquired a new account without paying a single cent, which was quite a relief. We also noticed that you can enjoy free deposits by using USD. That said, eToro supports many other currencies, including GBP, EUR, and RMB.
You will incur conversion fees if you use any currency other than USD. And if you use any currency that eToro doesn’t support, you must pay conversion fees to your payment provider. The exact conversion fees you may incur at any moment will depend on various factors, including your preferred currency and payment method.
Please note that eToro subjects each withdrawal request to a £5 fee. The platform uses this money to pay expenses arising from international money transfers. Most importantly, you can’t withdraw less than £30 from the eToro trading platform.
While depositing money into our account, we noticed that eToro has strict minimum deposit requirements. Britons using this platform have to deposit at least £100 the first time. Afterwards, you can fund your account with as little as £10, depending on your preferred payment method.
Commission-wise, eToro is very friendly to people who trade ETFs or invest in real stocks since the broker charges 0% for these assets. On the other hand, if you buy or sell crypto on this platform, expect to pay a 1% fee. CFD trading also attracts variable spreads depending on the involved instruments. For instance, the spreads for currencies and commodities start from 1 pip and 2 pips, respectively.
Not to forget, eToro charges a £10 monthly inactivity fee that kicks in after 12 months of dormancy.
3. Crypto.com – Best UK BTC Trading Platform for Comprehensive Services
After evaluating and analysing countless exchanges, we’ve ranked Crypto.com as the best BTC trading platform for comprehensive services. Crypto.com allows users to spot-trade 300+ popular crypto pairs, including CRO/BTC, ETH/BTC, and DOGE/BTC. It also supports margin trading, and its users can enhance their potential profits with up to 10x leverage.
Besides that, this BTC trading platform allows investors to borrow up to 3 loans back-to-back while using crypto assets as collateral. That means you can borrow some cash from Crypto.com whenever you’re in a financial pickle, saving you from having to sell your crypto assets. Furthermore, you can make your investments work for you and earn juicy returns by staking supported cryptocurrencies on this platform.
We also love Crypto.com because it allows investors to shop with crypto. You only need the Crypto.com app to pay with supported digital assets at 300,000+ shops. Moreover, this exchange covers high-net investors against up to £1 million worth of losses arising from issues like unauthorised crypto and fiat withdrawal.
Crypto.com
✔24/7 live support
✔User-friendly interface
Pros & Cons
Fees
Trading Assets
Pros
- A rich selection of crypto assets besides BTC
- Up to £1 million coverage for prime investors
- Low maker and take fees for high-net BTC traders
- Users can generate passive income through staking
- Crypto-backed loans are available
- Allows crypto traders to start with £1
Cons
- Higher fees for small-scale traders
- Limited educational resources
Ungodly costs undermine your capital and returns. For that reason, we analysed Crypto.com fees UK. Luckily, this exchange has affordable charges and commissions. The first thing we noticed is that this service provider allows new users to register and set up their Crypto.com wallet for free.
Moreover, Crypto.com has zero limits and fees for depositing crypto to the exchange. To make things even better, this service provider supports free GBP deposits. However, you must use a supported payment method like Faster Payments Service (FPS) to enjoy the latter.
That aside, Crypto.com users must cover varying maker and taker fees determined by their 30-day trading volume. Anything less than £50,000 attracts a 0.15%/0.30% maker/taker fee. But the numbers drop to 0.00%/0.05% for trading volumes of up to or more than £10,000,000. The more you trade, the lesser your fees.
Crypto.com has a free proprietary visa card you can use to make crypto payments. However, we discovered several fees associated with this product. For starters, if you ever decide to close your card, you’ll have to pay a £50 fee before any remaining funds get returned to you. The card also comes with a monthly free ATM limit. If you exceed it, you’ll incur a 2% withdrawal fee. Furthermore, dormant Crypto.com cards incur a £5 monthly fee that kicks in after 12 months of inactivity.
4. Kraken – Best Platform for BTC Spot Trading in the UK
If you are interested in spot trading, which involves buying or selling crypto and gaining instant returns, check out Kraken. This is a popular exchange that boasts over 10 million customers. Its spot trading services are perfect for institutional traders, i.e., firms and companies that deal with large crypto volumes. While spot trading with Kraken, you’ll enjoy many boons, including deep liquidity and dedicated support.
Besides spot trading, Kraken allows customers to buy crypto with as little as £10. Moreover, this BTC trading platform has Kraken Pro, which gives professional traders uncapped access to the incorporated Order Form trading system and various order types, including market limit and take profit. Such elements make this exchange perfect for seasoned traders.
While trading crypto with Kraken, you can use the company’s Learn Center to increase your knowledge base. You can also reach out to support and get professionals any day, at any time, via phone, chat, or email.
Kraken
✔Registered with the FCA
✔24/7 customer support
Pros & Cons
Fees
Trading Assets
Pros
- Powerful spot trading platform for institutions
- Individuals can buy BTC with a minimum of £10
- Users can also trade NFTs and pay zero gas fees
- Exceptional customer support service available 24/7
- Staking and OTC trading are supported
- £1 minimum deposit requirement
Cons
- Higher maker and taker fees for low-volume traders
- Limited fiat funding options for UK traders
Opening a Kraken account won’t cost you anything. The Kraken wallet is also free to acquire and use. That said, while trading with this review, you will be required to cover maker/trader fees starting from 0.00%/0.10%. But, to enjoy such low costs, you must have a high 30-day trading volume. Otherwise, if your 30-day trading volume is low, you may be subjected to higher maker/trader fees of up to 0.25%/0.40%.
With that in mind, many of the crypto assets supported by Kraken come with zero address setup and deposit fees. However, they have minimum deposit requirements. You should pay close attention to the latter since any deposits below the stipulated minimum are lost forever.
Also, note that Kraken allows users to trade with leverage. However, this optional and advanced feature can increase overall costs with additional rollover and margin opening fees. You will be exposed to higher charges if you purchase, sell, or convert your assets with the Instant Buy/Sell feature.
Finally, Kraken charges zero account maintenance, inactivity, and storage fees.
5. OANDA Crypto – Best Platform for Low-Cost BTC Trading
Suppose you are an experienced trader. You know that every cost you incur erodes potential profits. Luckily, you can prevent that by trading with the best platform for low-cost BTC trading: OANDA Crypto. We strongly recommend this service provider because, first, it has no minimum deposit requirement. You can load your account with as little as £25 using a credit or debit card and start trading Bitcoin immediately. Conversely, you can deposit whatever you want with bank transfers.
Not to forget, OANDA Crypto is honest and transparent. The platform has zero hidden fees that can catch you by surprise and inflate costs. While analysing OANDA Crypto, we discovered that this platform has an easy-to-understand fee structure. Essentially, depending on your account tier, you may pay fees ranging from 0.35% to 0.05%.
We also recommend OANDA Crypto to individuals with limited budgets since this platform offers free deposits. Better yet, it gives users the opportunity to automate trading and access the newest token pairs. Lastly, this company educates its users on the risks of crypto trading and provides hacks traders can use to minimise potential losses.
OANDA
✔No minimum deposit requirement
✔Excellent customer support service
Pros & Cons
Fees
Trading Assets
Pros
- Clear, transparent fees
- No minimum deposit requirement
- Low fees starting from 0.05%
- Reasonable minimum and maximum order sizes
- Free GBP bank deposits
Cons
- High SWIFT withdrawal fee
- Fewer altcoins than its peers
Opening an OANDA trading account is free, and you only need your personal details to set it up. From our experience, there is no minimum deposit requirement. We believe this attracts even low-budget traders as they can easily dive into financial market investment with any amount they can afford.
We also noticed that the OANDA broker doesn’t charge fees for deposits. This is whether you transact using credit/debit cards, e-wallets, or bank transfers. Plus, users can make one free withdrawal every month using their credit/debit cards. Subsequent withdrawals attract a fee, which varies depending on the currency you are transacting with. Bank transfers and e-wallet withdrawals also attract a fee, which from our analysis, is higher than credit/debit card withdrawals.
When it comes to inactivity fees, OANDA charges £10 monthly should your account remain dormant for over 12 months. Financing charges also apply for positions left overnight. Overall, we can confidently state that OANDA has no hidden charges. It allows users to easily plan and budget for their activities without worrying about future surprises.
Bitcoin Trading for Beginners UK
As the name suggests, Bitcoin trading is buying and selling BTC with the intention of earning financial returns. This activity is 100% legal in the UK. However, it’s exclusively for individuals aged 18 and above. You should also note that although many platforms support CFD trading on Bitcoin, this endeavour is illegal in the UK. The FCA banned it in early 2021, so avoid it.
There are different varieties of Bitcoin trading. The first one is spot trading, which allows you to purchase and sell BTC and get instant settlement. You can magnify potential profits with leverage through margin trading. Lastly, some platforms support futures and options trading, which enable you to buy or sell BTC at a specific price on a particular future date.
To start trading BTC and achieve maximum success, you need sufficient knowledge. Before diving in, learn the fundamentals. You also need enough capital, although you should be prepared to lose whatever you invest. You also need excellent goals and strategies. If you trade crypto without solid goals and the best strategies, your chances of failing prematurely increase multifold.
Lastly, using an exceptional Bitcoin trading platform is crucial in achieving optimum returns.
What is Bitcoin Trading Platform?
A Bitcoin trading platform is a digital solution that allows traders like yourself to buy and sell BTC and other altcoins. Three types of BTC trading platforms exist: centralised, decentralised, and hybrid. On centralised platforms, a specific central organisation facilitates and controls Bitcoin trading. On the other hand, decentralised platforms allow crypto traders to buy and sell crypto to each other without intermediaries. Lastly, hybrid platforms have both centralised and decentralised BTC trading options.
Bitcoin and Taxes in the UK
Profits from Bitcoin trading are taxable in the UK. If you sell or dispose of BTC in the UK, you’ll be subject to capital gain tax. Conversely, any proceeds you get from activities like mining and frequently trading BTC will be subject to income tax. Visit the GOV.UK website for more details. You should never ignore tax mandates since that can expose you to significant financial penalties or, in extreme cases, jail time.
How to Choose the Best Bitcoin Trading Platform UK
Hundreds of Bitcoin trading platforms are up and running today. That may sound like a good thing, but it complicates the situation. Why? Some of these entities offer deplorable services, and a good number are operated by scammers. For your safety and the protection of your financial resources, use the following factors to vet every service provider you come across:
Security
User Interface
Fees
Supported Assets
Customer Support
Online Reputation
The most secure Bitcoin trading platforms are those that are regulated by the FCA. So, while vetting every service provider, check regulatory status. Furthermore, verify if the platform you choose optimises the safety of your data and assets with world-class encryption, cold storage, and other premium measures.
An intuitive, user-friendly interface is indispensable, especially to beginners. Don’t choose a platform that complicates things and makes trading a nightmare. You don’t want to spend most of your valuable time learning how to navigate or trying to find the assets or functions you need.
Would you like to maximize your profit potential? Find a Bitcoin trading platform with affordable fees. To do that, you must check every service provider’s trading and non-trading charges. Finally, compare available platforms and choose one that seems cost-effective to you.
As a Bitcoin trader, you need a platform that is BTC-friendly; that’s non-negotiable. However, since minimising potential losses demands sufficient portfolio diversification, you need to find a service provider that allows users to trade popular altcoins like Ethereum, Solana, and Dogecoin.
While evaluating different service providers, you should check the availability of each trading platform’s customer support team. Additionally, try using the available support channels and gauge response time and the quality of the answers you receive.
Use online reviews to gauge every Bitcoin trading platform’s credibility and trustworthiness. We did the same. While evaluating and comparing the service providers that cater to Britons, our experts reviewed ratings and testimonials on Google Play, the App Store, and Trustpilot.
How to Sign up for an Account with a Bitcoin Trading Platform
Does the thought of opening a Bitcoin trading account unnerve you? It shouldn’t. The best service providers have simplified their registration process and made it possible for new customers to open accounts effortlessly. Most of them require applicants to do the following:
Step 1: Visit the platform’s official site
Step 2: Sign up
Step 3: Complete identity verification
Step 4: Fund your account
Step 5: Start trading
Have you identified a fitting service provider? Visit its official site. That is where your journey should begin. While on the platform, browse around and do everything necessary to you, including downloading a mobile app. Also, read the company’s terms and conditions.
Click the sign-up or register button. Submit relevant personal details, including your email, phone number, and full name. Some platforms may also ask for employment information. You must share veritable info to open a live account.
Provide documents that verify your identity, like a photo of your government-issued ID or driver’s license. You may also be required to prove you are in the UK with documents like a recent credit card statement or bank reference letter.
Verification might take a few hours. Once it’s done, deposit money into your account. Most Bitcoin trading platforms allow users in the UK to fund their accounts with FPS and SWIFT. You can also transfer crypto into your account or use available payment methods to make instant BTC purchases.
With fiat or crypto in your account, you can start buying and selling Bitcoin. If you are new to this, start with a small investment you can lose without turning your entire financial situation topsy-turvy. Also, employ proper risk management and avoid putting everything you have in Bitcoin exclusively. Always prioritize portfolio management.
Conclusion
So, which platform will you choose? Don’t rush; take your time. If possible, reevaluate the service providers we recommend here. Also, expand your research scope and read as many online testimonials as possible. If you’re a beginner, don’t do anything before you educate yourself and gather sufficient knowledge.
Once you zero in on a good Bitcoin trading platform, apply proper risk management and never compromise on discipline. Moreover, never let emotions like frustration or happiness influence your trading decisions.
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