Coinbase prioritizes security, offering features such as FDIC insurance for USD balances, digital fund insurance, two-factor authentication, and IP address whitelisting. The latter requires additional verification when logins originate from unfamiliar IP addresses. Furthermore, 98% of user digital assets are securely stored offline in cold storage wallets.

While Coinbase’s trading fees are competitive, they can be relatively high for small-scale traders, reaching up to 0.60% depending on trading volume. However, Coinbase offers more than just trading, providing an NFT marketplace and opportunities for passive income on various assets.

Pros

• One of the best crypto exchanges for beginners
• More than 200 cryptocurrencies listed
• Strong commitment to regulation and security
• Extensive educational resources available

Cons

• Debit/credit cards attract a fee of 3.99%

2. MEXC: Leading Platform for Zero Spot Trading Fees

MEXC is a prominent crypto exchange operating in the UK and globally, serving over 10 million users across 170+ countries. Offering a comprehensive suite of features and services, MEXC is a preferred choice for traders seeking diverse options and robust security. A standout feature of MEXC is its extensive selection of supported cryptocurrencies. With over 1,700 assets available, investors can trade a wide range of options, from established cryptocurrencies like Bitcoin to niche coins and projects.

MEXC stands out due to its fee structure, offering zero fees for both ‘maker’ and ‘taker’ spot trades, and a zero fee for futures makers with a 0.02% taker fee. This makes MEXC a cost-effective choice for traders. The platform also allows up to 10x leverage for margin trading, amplifying potential returns.   

Security is a top priority at MEXC, with over $500 million in crypto deposits secured in cold storage. Advanced security features like 2FA, KYC, and anti-DDoS protection safeguard the platform. Its high-performance trading engine can handle 1.4 million transactions per second, ensuring fast and efficient trading. Advanced charting tools and indicators support technical analysis.

MEXC also offers attractive staking rewards for popular cryptocurrencies like Bitcoin, Ethereum, and Polkadot. These combined features solidify MEXC’s position as a leading UK crypto exchange.

Pros

• 0% spot trading fees
• Offers more than 1,700 tradable coins
• High staking returns on cryptos
• High-speed transaction capability
• Stores funds in cold wallet

Cons

• Charges a 2% debit card fee

3. Gate.io: Over 1,700 Crypto Assets Up for Grabs

Gate.io is another contender on our list of top UK crypto exchanges. This platform shines with its vast selection, supporting over 1,700 crypto assets. Unsurprisingly, Gate.io attracts investors seeking diversification through a wide range of small-to-medium cap projects.

While Gate.io doesn’t directly accept fiat deposits, it integrates with third-party processors like MoonPay, Banxa, and Coinify. This allows UK investors to deposit funds using debit or credit cards. However, be mindful of fees associated with these third-party services, which typically range from 3-5%.

For casual traders, Gate.io charges a standard trading commission of 0.1% per trade. However, high-volume traders exceeding $60,000 monthly volume can qualify for lower commission rates. Additionally, Gate.io ventures beyond just trading, offering DeFi (Decentralized Finance) services such as lending and interest-bearing accounts.

Pros

• Huge number of markets at over 1,700 coins
• DeFi services and native wallet app
• High-security measures and proof of reserves
• Comprehensive platform for pro traders

Cons

• Not regulated in the UK
• More suited for experienced crypto traders

4. Binance: Global Crypto Exchange Giant

Binance was once the most affordable crypto exchange in the UK, boasting commissions starting at just 0.1% per trade. Currently, Binance’s fees range from 0% to 0.6%, varying based on trading volume. For casual or beginner traders, the standard fee is 0.6%, equating to 60p for every $100 worth of crypto traded.

Binance offers a 25% fee discount to holders of BNB, the native coin of the Binance ecosystem. Additionally, UK bank transfers to Binance accounts incur a $1 fee. While debit and credit card payments are accepted, they come with a 1.8% transaction fee.

Beyond competitive fees, Binance stands out as the best UK crypto exchange for market diversity, offering access to over 350 coins across various projects and more than 1,000 tradable markets. A convenient coin conversion feature is also available.

For optimal cost-effectiveness, using the Binance exchange is recommended. This platform provides access to a sophisticated trading environment equipped with advanced analysis tools and features. Binance also offers a decentralized wallet called Trust, accessible through a mobile app.

Pros

• Relatively low trading fees
• Low minimum deposit ($15)
• Supports more than 350 coins
• Huge liquidity levels

Cons

• Debit/credit cards fee of 1.8%
• Not regulated by the FCA

5. Bybit: Unmatched Instant Trade Execution

Bybit distinguishes itself with rapid trade execution, advanced trading features, and robust security measures, making it a preferred choice for sophisticated UK traders seeking an efficient and secure trading platform. Founded in the UAE in 2018, Bybit has rapidly ascended to become a major player in the crypto industry. Renowned for its lightning-fast matching engine, Bybit delivers instant trade execution.

Bybit’s platform, accessible via web or mobile, boasts a user-friendly interface, although it caters more to experienced traders. This is largely due to the integration of advanced TradingView charts and a focus on complex perpetual futures products, which are invaluable tools for seasoned traders conducting in-depth technical analysis or executing sophisticated trading strategies.

Bybit prioritizes security with a dual wallet system, separating user funds between online and offline storage. This approach safeguards the majority of assets offline, significantly reducing the risk of cyberattacks and enhancing investment protection.

Pros

• Instant trade execution
• Advanced trading features
• Professional-grade platform
• Secure dual wallet mechanism

Cons

• Complex interface for beginners