Best UK Crypto Exchange according to Reddit
There are around 500 crypto currency exchanges in the industry today. Unfortunately, not all of them are great platforms for your hard-earned money. As per our analysis, you should always consider factors such as trading volume, scalability of the platform, security, insurance, customer service, geographical restrictions, and fees among others before settling on an exchange.
As a result, MoniTalks has identified eToro and Coinbase as the best cryptocurrency exchanges in the United Kingdom and they continue to trend on the social media platform, Reddit.
eToro ― Overall Cheapest Crypto Exchange UK
Launched in 2007 as a multi-asset trading platform, eToro provided services under the stock, commodities, exchange-traded funds (ETFs), and indices banner before making the foray into cryptocurrencies in 2013. eToro serves around 27 million customers in over 100 countries.
As of July 2022, supports more than 60 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM), Litecoin (LTC), DASH, Uniswap (UNI), and Chainlink (LINK).
Unlike other places of buying digital assets that have been mired in regulatory problems with the Financial Conduct Authority (FCA) of the United Kingdom, the trading platform is registered as eToro UK with company registration no. 7973792. This certifies eToro as the most credible place where you can trade digital assets in the United Kingdom.
Among the pros is a demo account to help you learn how to trade using virtual funds. Additionally, eToro is extremely accessible and can be found via the Google Play and Apple Store on Android and iOS-powered devices.
After being in the traditional and decentralized finance trading sector for more than 15 years, eToro has not been involved in any cyber security issues due to the level of its security systems. It continues to operate without incident.
Moreover, the platform supports several payment methods such as bank transfers, bank cards (MasterCard, Maestro, and VISA), and e-wallets such as Skrill, PayPal, Neteller, and co. With this, you have a range of alternatives to choose from.
eToro is among trading platforms that have low fees (deposits, trading, and withdrawal).
The exchange continues to see millions of dollars in daily volume and recently launched eToro Crypto Portfolio, a basket of high-yielding coins. With a single investment, you can see consistent periodical yields.
Despite the positives, eToro is not a traditional cryptocurrency exchange, and dormant accounts are subject to inactivity fees.
Coinbase ― User-Friendly Bitcoin Exchange
Founded in 2012, Coinbase can be accessed in the United Kingdom and is one of the biggest cryptocurrency exchanges by daily trading volume. On 14th March 2018, Coinbase announced via a blog post that it is the first exchange to receive an e-money license from the FCA.
Overall, there are 98 million verified users, 230,000 ecosystem partners, and 13,000 institutions in more than 100 countries.
The exchange supports more than 50 cryptocurrencies which include the top 20 digital assets by trading volume. It offers low minimum deposits, several payment methods such as PayPal, and offers a very advanced trading platform.
Other Honorable Mentions of the best crypto exchanges in the UK include but are not limited to, Binance, OKX, Bitstamp, Crypto.com, Kraken, Gemini, Gate.io, KuCoin, and Bittrex.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.