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](https://www.etoro.com/) 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](/news/article/fca-crypto-regulation) (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](https://www.coinbase.com/) 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. 


Best UK Crypto Exchange according to Reddit

So you want to start trading cryptocurrencies? Is paying [eToro](https://www.etoro.com/) fees the only way, and how do you begin your crypto journey?

You need first to purchase some crypto with your fiat money. This is where centralised exchanges come into play, such as eToro.

You deposit your money into the platform and can now purchase Bitcoin or altcoins. Most platforms charge a percentage fee when buying or selling coins; the eToro fees are 1% when you open or close a position. While this seems like a low percentage at first, it can quickly build up if you make lots of trades. Another example is Bitcoin.com which has fees of 0.04 to 0.4%, a much better rate than eToro fees.

Most exchanges have features including spot trading, leverage trading, trading bots, charts and chart tools, crypto lending, mining, and staking.

## Spot Trading

Spot trading is your traditional method of trading coins in which you are doing straight swaps from one coin to another.
Leverage trading is trading with a larger size than what you have in your portfolio. To a beginner, this sounds like a fantastic strategy to make massive gains. In reality, it should only be used by experts who know how to handle risk management properly, as you can quickly lose money.

## Trading Bots

Trading bots are computer algorithms where you set the parameters and rules and a bot trades on your behalf.

## Charts

Charts are where you can see the price history of a coin, and tools help you confirm a bias of where you think a trade will go.

## Crypto Lending

Crypto lending is an opportunity to let people use your crypto in return for rewards - yes, you get your crypto back, and if you do it through a reputable exchange, there's less worry about security or being scammed.

## Mining

Mining uses your computer or phone's computing power to work out calculations to allow transactions to be processed.

## Staking 

Finally, staking is setting aside some crypto, like lending except it goes into a pool to be used as liquidity rather than directly to another person. This also allows you to gain passive income rewards.

Some exchanges have other features, but these are the main ones you will encounter. Picking the right exchange for you is vital when trading cryptocurrencies. You need to factor in what you want to use the platform for while minimizing costs and maximizing profits. This can be done by avoiding exchanges with high costs, such as eToro fees.

More [Business news](/news/category/crypto-business-news).


eToro Fees, Crypto Exchanges, and You

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