Tracking down the best crypto exchange UK-wide means looking at a lot of cryptocurrency trading platforms, many of which have their own specific features that set them apart from others. If you are stuck choosing between a dozen crypto exchanges, it can become tough to know which crypto trading platforms are actually worth your time.

Whether you are new to crypto trading or an out-of-touch veteran wanting to refresh their understanding of the market, it is important to find the best way to trade bitcoin, UK-wide or internationally. But how do you pick out the best crypto exchanges, and what kind of features are most important?

Why Does It Matter?

It is easy to see cryptocurrency trading platforms as little more than a tool to buy and sell your crypto assets. While this is technically correct, it misses some of the nuances that come with using a crypto exchange in the first place, especially one with a lot of added features.

Each crypto exchange is a distinct site and service, meaning that each one has its own rules, services, features, options, and account systems. The crypto exchanges that you choose to use will influence the way that you approach crypto trading, even if it is only by a small amount.

Understanding how to choose the best crypto exchanges for your needs is an important skill when it comes to crypto trading since each crypt exchange provides something different. Using the right cryptocurrency trading platforms can give you a massive range of benefits while using the wrong ones can put your finances and personal data at risk.

On top of that, there is the fact that most exchanges in the UK can be accessed quickly and easily. The problem is not getting started with a crypto exchange but making sure that you choose the right crypto exchange for your needs. It can be tempting to rush into the first cryptocurrency exchange you see, but it is often better to take your time and do your research.

Even some basic investigations into the crypto exchanges that you are tempted to try can help you better understand what they offer. The more you know about each exchange, the easier it becomes to take a step back and compare them objectively, giving you an easier time choosing the one that works best for your needs or preferences.

What Makes a Good Cryptocurrency Exchange?

Choosing the right crypto exchange is easier if you understand which features make your crypto trading platforms better. It does not just stop at features, either - different design elements or built-in site tools can be just as important.

While there can be a lot of subjective details involved in a cryptocurrency exchange, most people who are looking to get started with crypto trading want the same basic things. For example, better security is always going to be positive, so there are a few reasons to choose something that is less secure.

If you are not sure exactly what you are looking for with crypto exchanges in the UK, then it is important to consider what would actually help most. Some platforms are designed to be used in specific ways, while others are more general crypto trading platforms that do not have a specific focus in mind.

Understanding what to look for in a new crypto exchange means looking at your own crypto trading habits. Each person with some investment in crypto is going to want different features or benefits to make their trading easier, and certain site features or details can make particular kinds of crypto trading a lot more convenient.

Convenience

There is nothing more important than a site simply being good. For example, the best way to trade bitcoin UK-wide is any platform that allows a good, simple, hassle-free bitcoin exchange. Added features are always important, as is security, but there is no point in using a trading platform that does not allow for easy trades.

Site Usability

Choosing cryptocurrency exchanges in the UK means looking at what they can offer, and that applies to the trading itself. A platform like this needs to be easy to use and convenient to work with, especially if you plan to continue trading for a long time.

Things like technical issues or coding flaws can get in the way, but they are often fixed eventually once they are reported. The more important thing to worry about is sites that simply are not up to the standards that you expect.

A bitcoin exchange platform might function at a basic level but offer nothing else special or useful to its users. In this case, the site is still a working trade platform, but there is no reason to use it over a better and higher-quality exchange and trading platform instead. This kind of mediocrity is something you should avoid, even if it is not inherently a problem.

New User Friendliness

Some of the best crypto exchanges are the ones that provide great features for helping new users learn about using the trading platform. Some even include tools and blogs to help you learn crypto trading as a whole, something that can help a lot if you have no prior experience with the market.

It is also useful to have access to a full FAQ section, a space that can go over details like trading fees and how to deposit funds. These are things that might be common knowledge to experienced traders but completely unknown to new arrivals, and the added support makes a big difference.

This obviously matters more if you are new to trading since you may not need this kind of support if you are a long-time crypto owner. Even so, it can be a good indicator of quality - having these features mean that the site is willing to support newcomers and grow its market.

Payment Methods

Like stock trading platforms, not all apps and other cryptocurrency trading platforms will accept all payment methods. A bitcoin-cash trade might be easy, in theory, but you can't do bitcoin exchanges if you can't deposit funds properly.

The way that you deposit fiat currencies depends on which options are available. Most sites will allow bank transfers and debit card payments, but not all. Certain banks may not be available for bank transfers, and others may not allow you to make a bank transfer to a crypto site.

Since crypto involves decentralised exchanges in highly volatile and unregulated spaces, there is not always consistency between platforms. The payment methods used in one - like a bank transfer to deposit bitcoin cash - may not be available under another.

Security

The more secure a crypto exchange is, the more protection it can offer you and your crypto assets. On their own, digital currencies can still be stolen or hijacked by third parties if left unprotected, and many long-time crypto trading experts have learned to secure their assets the hard way.

Not only can poor security lead to issues with your crypto being stolen, but a hacker might get access to your entire crypto wallet and your bank account details. In some cases, this might even allow them to purchase more crypto with your credit or debit card and then send it to their own wallet to effectively steal money from your bank account.

Unlike fiat currency, crypto is mostly decentralized and independent, meaning that it can be very hard to get your digital currencies back if somebody breaks into your account and takes it. If you can't catch the crypto trades before they finish, then that cryptocurrency might be completely gone, leaving you with an empty crypto wallet and a breached account.

Getting around this problem requires better security, both from you as an account owner and the platforms that you are using. Choosing a safe and secure crypto exchange platform is the best way forward - but what actually contributes to better security?

Security

The more secure a crypto exchange is, the more protection it can offer you and your crypto assets. On their own, digital currencies can still be stolen or hijacked by third parties if left unprotected, and many long-time crypto trading experts have learned to secure their assets the hard way.

Not only can poor security lead to issues with your crypto being stolen, but a hacker might get access to your entire crypto wallet and your bank account details. In some cases, this might even allow them to purchase more crypto with your credit or debit card and then send it to their own wallet to effectively steal money from your bank account.

Unlike fiat currency, crypto is mostly decentralized and independent, meaning that it can be very hard to get your digital currencies back if somebody breaks into your account and takes it. If you can't catch the crypto trades before they finish, then that cryptocurrency might be completely gone, leaving you with an empty crypto wallet and a breached account.

Getting around this problem requires better security, both from you as an account owner and the platforms that you are using. Choosing a safe and secure crypto exchange platform is the best way forward - but what actually contributes to better security?

Verification

A large part of using any crypto exchange is verifying your identity, something that most exchanges in the UK require. While these might be annoying if you have signed up to multiple cryptocurrency exchanges in the past, it is also a really important security measure that is worth putting some value behind.

The more in-depth verification requirements a crypto exchange has, the harder it becomes for scammers and account thieves to slip into the exchange platform. It also ensures that every user on the cryptocurrency exchange is a real person and that they can prove their identity with proper documentation.

While this might not sound like much from a user's point of view, it makes a big difference when looking for the best crypto exchange in the country. UK crypto exchanges that don't have any kind of verification requirements are often the risky ones - sites and platforms that do not care about who uses them as long as they make money.

Be sure to look into the verification systems of a cryptocurrency exchange before you use it. Not only does this let you come up with the relevant documents already prepared, but it can give you an understanding of how the platform handles security and how seriously it takes breaches to its own terms of service.

Support

Crypto and bitcoin exchanges rely on good support services to help crypto traders with their issues. Whether it is resolving problems with supported payment methods or providing help to somebody who has lost access to their account, good customer support and service is important.

As such, it can be helpful to look into the support offered by a UK-based bitcoin exchange. Even something as small as a 24/7 text chat support method or a large FAQ section can make a difference, especially to people who are new to selling crypto and do not have a lot of experience in how platforms like that work.

You can usually look into the support and customer service options of a trading platform before you commit to signing up and could even look up reviews if you want. While this might only be a small part of the overall "package" of benefits you get, it is a very important one, especially if you end up in a situation where you need urgent customer service help.

Support can cover many things, from issues with purchases to getting help using particular systems. You never know when you might need a trading platform to offer proper customer support, but sites that don't offer any accessible support methods are often going to be ones that do not care about the experience their users are getting.

Remember that some support options are going to be more subtle than others. A crypto exchange FAQs section is not direct customer service, but it can resolve a lot of the issues and questions you might have that would otherwise need to be directed at a customer service desk or representative.

Malware Safety

Crypto exchanges are a common - and popular - target for people looking to plant malware onto a site. Sometimes this will be malware or code designed to help steal crypto from the users or to take their bank account details so that their money can be siphoned off later.

Whatever the threat, a site with good malware and virus protection will be able to handle it well and keep your information safe. A reliable and consistent level of security across a crypto exchange is always a must-have, especially if you have encountered data thieves or account hoarders before.

The best crypto exchanges are the ones that consistently update their security, providing the highest level of user and data protection possible. By contrast, cryptocurrency exchanges that keep their protection stagnant will eventually get infected with malware or other malicious code that puts users at genuine risk.

There are also a few sites that take on malware willingly, running scam ads in exchange for large sums of money. These are not all that common, but they can be a serious concern when looking at lesser-known or recently-formed crypto exchanges. Some smaller sites could even be entire scams in their own right, copying the look of a more popular platform directly.

While you need to take some personal responsibility for the cryptocurrency exchanges that you use, you also need to be aware of their security options. Digital currencies are a very vulnerable thing, and UK crypto exchanges that refuse to provide good protection can be a serious risk to your finances if something goes wrong.

Key Storage

A good exchange will make sure that your crypto is not simply being left to float in an openly-accessible server. Many of the best cryptocurrency exchanges pool user funds together and move them to cold storage, placing them in a state where no hackers or hijackers can actually access them.

A UK crypto exchange that keeps all of your coins in "hot" storage can be putting it at unnecessary risk, placing your crypto in a situation where it can be taken straight from a server or corrupted by malware. If this happens, it is gone for good, often before anybody even notices.

By relying on cold storage, some platforms can ensure that you get extra protection from outside threats. A cold storage device can't be opened until it is plugged into a machine with internet access, so there is no way to connect remotely once it is removed.

Of course, the best security option overall is to move your crypto to your own personal wallet since you have more control over things like key storage. Even so, it does not hurt to use a crypto exchange that uses cold storage over hot storage, especially if you are planning to buy and store a lot of cryptos there.

User Experience

Security is an important backbone for all crypto exchanges, but the user experience matters just as much. Cryptocurrency exchanges that do not offer a decent UX can be very hard to work with, especially if you can't tell exactly where certain features or tools are.

Design

The design of your chosen exchange matters a lot. A good cryptocurrency trading platform should keep all information clear, from the current state of the crypto market to the trading tools you have available.

Without a clear overview of everything you have access to, it is easy for an inexperienced or first-time crypto trader to completely miss important things, such as trading volume information. If this happens, you might trade incorrectly and lose money or even mix up financial details for different currencies.

It is vital that you pick a crypto exchange platform that you feel comfortable using and navigating. Trading crypto is a lot easier when you understand a site and know where important features are placed, and no two exchanges will use the exact same design.

Most exchanges in the UK are going to look fine, even if their designs are not amazing. However, if you are new to trading crypto, it might help to choose one with a clear visual style so that you can get the hang of each individual element. Too much information can feel like an overload, and it can distract you from actually buying or selling at the right time.

Design

The design of your chosen exchange matters a lot. A good cryptocurrency trading platform should keep all information clear, from the current state of the crypto market to the trading tools you have available.

Without a clear overview of everything you have access to, it is easy for an inexperienced or first-time crypto trader to completely miss important things, such as trading volume information. If this happens, you might trade incorrectly and lose money or even mix up financial details for different currencies.

It is vital that you pick a crypto exchange platform that you feel comfortable using and navigating. Trading crypto is a lot easier when you understand a site and know where important features are placed, and no two exchanges will use the exact same design.

Most exchanges in the UK are going to look fine, even if their designs are not amazing. However, if you are new to trading crypto, it might help to choose one with a clear visual style so that you can get the hang of each individual element. Too much information can feel like an overload, and it can distract you from actually buying or selling at the right time.

Navigation

Many crypto exchanges rely on a range of different pages and tabs to give you different sets of trading tools or even just to spread the information out into relevant subsections of the platform. While it might not sound all that major, navigation through the platform is one of the biggest concerns you can have.

If you are not used to a cryptocurrency exchange, then it takes time to learn the layout of the platform and how each page connects to another. Ideally, all-important pages will be available from the same navigation bar, but this, unfortunately, is not always the case.

Some exchanges in the UK will hide important pages behind links that are only accessible from other pages or keep duplicate content across two different tabs. Others may make the navigation bar extremely minimalist, relegating other pages to navigation options at the footer of each page (or the whole site itself).

These are not major concerns, but they can become a serious annoyance, especially if you have not learned the site well yet. Not knowing how to access support options or the platform FAQ can make it even harder to use the exchange as intended.

Features

The best crypto exchange UK customers can find will depend on the features that they want. When it comes to crypto, UK-specific or otherwise, additional features can often be the thing that pushes some of the best crypto exchanges above their counterparts and competitors.

Trading Features

Looking into additional trading features is a core part of finding the best UK exchange for cryptocurrency trading. While beginners will want a simpler exchange so that they can get used to trading digital assets, it never hurts to have more optional features for more experienced traders to use.

For example, a more in-depth trading volume breakdown might not be useful to new traders, but advanced traders may see it as their go-to option for helping them purchase crypto at the right time.

Having these optional additions means that each user can handle cryptocurrency transactions at their own level of comfort. Experienced crypto investors and high-volume traders can dive into long feeds of data, while newcomers can stick to making crypto purchases based on simple breakdowns of each coin's performance.

Privacy

While security is obviously a huge concern, privacy can be a major factor for many people that trade crypto. Different trading platform options will have different levels of user privacy: if you value your privacy, then it is a good idea to look into the different privacy options available.

Remember that privacy becomes less and less reliable as crypto becomes more mainstream since most governments are going to be investigating crypto trading platforms and adding more regulations to crypto as a whole. This improves security and reliability but also means that "true" anonymity might not be possible in many cases.

Fees

Each cryptocurrency trading platform will have a different set of fees in place, as well as a general fee structure. These can influence the way that you have to approach trading on that platform since the fees will only apply in certain situations.

For example, some platforms may have low transaction fees between coins but high withdrawal fees if you are turning your coins into fiat currencies.

This changes the way that you work with the site since the low trading fees allow more frequent trading, while the withdrawal fees will nudge you towards making bigger withdrawals at a slower pace.

You can usually find out about each platform's fees in their FAQ sections or by contacting them directly to talk to some of their staff. The more you know about the expected fees involved, the easier it becomes to predict what you will be spending on trading fees as a whole.

Choosing the Best App for Cryptocurrency Trading UK-Wide

Not all of the best crypto exchanges are meant to be used through their websites or online platforms. A lot of them are app-based, which can sometimes allow them to offer a range of extra features to mobile users that otherwise would not be available.

These are not always just mobile app platforms, either. You can often install trading software onto your desktop devices, too, meaning that they can have a dedicated trading platform that is not just an online interface. Installing an app or program instead of using an online platform has its own set of advantages.

Compatibility

Not all apps are going to be compatible with all devices, especially not lesser-known ones. It is a good idea to look into which devices the app can actually function on, especially if it is a mobile app that might only be designed for a single operating system.

This is not all that much of a concern, but it can definitely catch potential traders off guard if they are not careful. Most apps will be compatible with all standard phones, but there can be a few exceptions.

Cross-Platform Trading

It is also a good idea to look into how the app functions across platforms. Some might let you buy and sell on your mobile, then swap to a desktop platform to finish the transaction there instead. Others are only available on a single kind of device, meaning that you do not get this kind of comparability.

Feature Lists

It might be helpful to remember that apps do not always retain the same features as their original platforms. It is entirely possible that the app version of a certain exchange may be missing particular features or even have limitations on how you can use it for trading.

In some cases, there can even be differences in things like trading fees depending on whether you use the app or the online platform. This is rare, but it can happen, and it is something you should be aware of when you are looking into using a new platform.

How to Find a New Crypto Exchange

If you are still on the hunt for the best cryptocurrency sites UK companies can offer, then it is often best to just start looking and see what you can find. The longer you wait, the more potential profits from crypto trading you could miss out on.

However, this means that you need to track down the ideal exchange for your needs. While we have gone over the parts that make an exchange good, it helps to know how you should actually be seeking a new exchange and what tricks can make it easier to narrow down your options.

Start Small

When it comes to cryptocurrency sites, UK users are spoiled for choice. Even if you are entirely new to the whole cryptocurrency market, it is not hard to look up terms like "the best way to trade bitcoin UK" and find a range of different suggestions.

Unfortunately, it can sometimes be hard to tell which are the best cryptocurrency trading platforms for your own needs. Most of the crypto exchanges UK companies offer are going to be at least partially targeted toward long-term traders, and that means figuring out your own needs.

Do some basic searches and get an idea of what an average exchange looks like. Do not feel pressured to choose anything straight away, and spend some time getting used to the market if you are brand new.

As a new trader, you are likely to use your debit card as a payment method and experiment with small amounts of crypto at once. Finding a site that will accept smaller debit card payments can be the best way to get yourself used to how trades work.

Consider Your Goals

While most crypto trading and exchange platforms are very straightforward, most of them will still have a particular bias towards something. The more you know about how they operate, the easier it becomes to tell if they are a match for your own goals or expectations.

This could be as simple as having different trading fees for particular things, such as low trading fees for direct trades for other crypto coins.

A site like this is intended to be used for trading crypto directly, so you would get the best results out of using the platform if you were doing that. If not, then it would not be as effective.

This kind of thinking can be important since crypto exchanges mean a lot of things to a lot of people. Some use them to make money, and others use exchanges for practical purposes. In some cases, it might even be a hobby or just an alternative way to temporarily store some money in the hopes of it increasing in value.

Finding a platform that matches your expectations makes a big difference because it enables you to actually tailor your options to what you need. If a platform's trading fees or feature sets would get in your way, then it may not be the best site for your intended goals.

Think About Your Trading Volume

It is important to remember that some sites are meant to be used by regular traders who are constantly making transactions, while others are more casual. A high trade volume platform might offer reduced fees but also have other restrictions on how you can deposit and withdraw.

If you are only planning to make a few transactions here and there, you want a crypto trading platform that supports that kind of activity instead of choosing one geared towards regular trades. On the other hand, frequent traders will want something that supports them rather than overcharging them on transaction fees.

Choosing something that is appropriate to your own needs and requirements is an important part of choosing the right crypto trading platform or mobile app. If you are not careful, you might choose crypto trading apps that actively work against your own goals and expectations.

Figure Out Your Requirements

If you are stuck on deciding which platforms might be best, take a look at your own requirements and preferences. There will always be some features that you put higher than others, and that should be one of the guiding principles for you searching for a new platform to use.

For example, if you want to find the cheapest crypto exchange option you can, then you will probably put low fees as the highest property.

This means that you can rule out any sites that require major fees when you deposit funds as fiat currency or apps that have a high minimum deposit amount.

The same goes for any other preferences you have. There will always be a few exchanges that you can cut out of your search with each new point you focus on, and eventually, you will be able to cull the list down enough to understand which options actually meet your needs best.

Explore Their Platforms

Even before you sign up, it can help to take a deeper look at each UK cryptocurrency exchange you are tempted to try. Even if you are just investigating the basic pages of each platform, it might help you figure out exactly what you are being offered.

This is a great way to pick out the best UK crypto exchanges for your needs. Since crypto assets are highly volatile and unregulated, it is important that you choose platforms you know you can trust, and that means understanding every detail possible about how they operate.

Some Other Important Questions

If you are still on the hunt for a new platform, then you want to be as informed as possible about how the entire market works.

New traders are especially vulnerable to being caught off guard since cryptoassets are highly volatile, and not all platforms care about their customers beyond the money they themselves can earn.

Whether you are new to trading digital assets or have only just gotten back into the market, it is a good idea to know as much as you can before committing any time and money to a platform. If you choose poorly, you might end up losing money before you can do anything to prevent it.

Is crypto trading legal in UK territory?

In most standard cases, crypto trading is legal. However, cryptocurrency derivatives have been banned and cannot be sold to retail customers - something that should not matter to an independent trader.

Things like margin trading are also technically legal, but using margin trading to buy digital assets is still a risk. Buying crypto needs to be done with care and forethought.

Should I trade CFDs with Crypto?

Retail investor accounts can take big risks when trading CFDs on a bitcoin trading platform or other exchange. While it can be successful, many retail investor accounts lose money when trading CFDs without a plan.

Again, for the average user, this will not matter too much. However, it is still an important part of the overall UK crypto exchange, one that you should be aware of if you ever move onto larger-scale trading.

Is a desktop or mobile app better than browser crypto exchanges?

In most cases, using a mobile app will not change much, but that is not always the case. You will still be able to buy and sell or make crypto deposits, but some mobile app options have specific features or restrictions that other software or browser platforms do not.

Most people will be fine as long as they can buy and sell digital assets. However, if you want to do something more specific, then you might have to use a certain version of the exchange platform.

Most of the time, these platforms will be identical regardless, but there are some exceptions. Being informed of differences like this ahead of time matters a lot.

Do payment methods matter much?

Being able to buy and sell bitcoin or other currencies with your chosen payment method is a great help.

Not all payment options offer the same level of consumer protection, and many people do not want to give exchange their direct bank transfer details or debit card info.

Bank transfers and debit card payments are the two most common methods. While these can offer good consumer protection, it is understandable to be wary when using a new site.

If you want to buy or sell bitcoin and other crypto types using a certain method, then you need to seek out sites that allow it. You can't force a site to take a payment method that it does not support.

Remember that some payment options will have a higher crypto trading fee or deposit fee, too. Figuring out the exact crypto trading fee for each payment tool can be important if you want to keep fee cost's low.

Do I have to pay tax on crypto exchanges in the UK?

Crypto earnings are counted as normal assets. This means that they can make you eligible for capital gains tax and other similar requirements, so you can't avoid tax through cryptocurrencies in the UK.

Whatever you are looking for, it is important to choose a site that you think you can trust. coinpass is just another entry on that list - and if you want to know more about what we can offer, then do not hesitate to explore our site for yourself.