As of today, investing in digital coins is absolutely legal in the UK, hence, many British get interested in this sphere. But the problem is that, for a novice trader, it is quite difficult to determine which sources operate in his country legally and which of them suits him the best. That is why we will provide basic guidelines on this issue for you.
We suppose it would be logical to start from guidelines on how to find a perfect trading platform for your personal needs. We recommend you focus on the following aspects:
- Regulation by the FCA. That will add to the overall security.
- Accepting clients from the UK.
- Support of British pounds as a main account currency. In such a case, you will not need to pay for money exchanging all the time.
- Available altcoins. Certainly, most beginners focus on a few most popular coins, but, over some time, you will probably decide to diversify your portfolio.
- Trading commissions and other fees. These may include withdrawal charges, inactivity penalties, and others.
- Payment methods. Make sure you will be able both to deposit your balance and withdraw the income received quickly, cheaply, and conveniently.
- Research features. Decent market analysis is a key to high profits.
- Other users’ reviews. Find them on some outside aggregator.
Now, let us present our rating of the best crypto exchanges UK in our opinion:
- Coinbase ― the most common choice among both beginners and experienced investors (they usually opt for Coinbase Pro);
- Binance ― the best source for intense daily trading;
- Cex.io ― a leader among local services;
- CoinJar UK ― the most comfortable terms for exchanging coins for pounds and vice versa;
- eToro ― the best for copying other trader’s deals and earning passively;
- Kraken ― a comprehensive education system including highly informative guides, videos, newsfeed, analytics;
- Crypto.com ― the safest choice due to regulation by multiple organizations around the world;
- LocalBitcoins ― the most profitable terms for trading Bitcoin;
- Bittrex ― advanced charting features;
- Exmo ― a leading peer-to-peer platform;
- Currency.com ― extremely cheap trading fees;
- CryptoHopper ― a perfect choice for those who plan to use trading robots.
So, we believe that the recommendations above will help you find a source, which will allow you to reach great results in trading and turn this activity into a substantial source of income.