Cryptocurrency exchanges are becoming popular thanks to the growth of Bitcoin, Ethereum, and Ripple. In this article, we will describe the top UK cryptocurrency exchanges.
Coinbase became a known name in the world of crypto exchanges, making its way to the top not only as an exchange – but as a way to increase adoption.We believe this because the major partnerships that made Bitcoin ‘famous’ are there because of Coinbase. Overstock, Dell, Expedia and others – all are there because Coinbase’s marketing strategy.
Founded in June 2012, Coinbase puts an emphasis on Bitcoin and other essential cryptocurrencies. It features a high level of security, ease of use, and the option to have your own wallet. Because of the Coinbase’s friendliness with Europe, it’s an excellent option for United Kingdom customers.
Although Coinbase involves an efficient way of exchanging cryptocurrency, one of its major disadvantage are its fees. Coinbase fees can be high ranging from 1.49% to 4.00%. We all are used to lower fees in the world of cryptocurrency, but in this case the ease of use of the platform may make the higher fees worth the cost. Although, to avoid these fees, advanced users might prefer to go to other sites.
Coinbase allows the purchase of Bitcoin by credit card, debit card, bank transfer, SEPA transfer, and more options.
In summary, Coinbase is an excellent choice for beginners who want to join the world of cryptocurrency, and its rise in popularity throughout Europe indicates that it could also gain popularity among many UK customers.
-High liquidity and buying limits.
-Easy way for beginners to get Bitcoins.
-You can use “Instant Buy” with credit card and debit card
-Purchases made with bank transfer can take up to 5 days.
-Not available in some important countries yet, despite its popularity
Bittylicious is a Bitcoin exchange based in the United Kingdom. Users can purchase Bitcoin via Barclays Pringit, Faster Payments-enabled bank transfer, or credit card, although there’s a different price for each of these options – with bank transfer being the lowest cost option.
The platform has an interesting approach when it comes to trading. For example, Bittylicious matches trades without you sending any funds to them. You will deal with a broker who has been verified by Bittylicious. To become a broker, it is necessary to go through a rigorous application process. Also, before buying more than $50 worth of cryptocurrency, an identity verification is needed.
Bittylicious offers an unusually simple interface. This has the potential to make trading easier, offering ease of use to those new to cryptocurrency.
In summary, Bittylicious can be a secure, fast, cost-efficient way to buy Bitcoins in the UK. Its current rise in popularity looks promising for the long term.
-One of the most efficient ways to buy Bitcoins in the UK
-Refund guarantee if payment takes longer than expected.
-ID required for card purchases
-RBS/Natwest PYC payment method not available yet.
Bitpanda is a crypto broker based in Austria. It has high paying limits, low fees, and a wide range of payment methods like EUR, GBP, CHF, USD, and more. The platform also allows people to buy and sell cryptocurrency using a credit card, debit card, Sofort,Skrill, Neteller, Giropay, Eps, SEPA, and more.
The site allows users to take advantage of various options when it comes to buying and selling crypto, such as BTC, LTC, ETH, XRP, DASH, BCH, KMD, and MIOTA.
The platform also has a good approach when it comes to security. Users will need to go through an identification process that includes a video identification procedure.
In summary, Bitpanda is a flexible option for UK users. It offers a great variety of currencies and cryptocurrencies and is a secure, user-friendly platform.
-Could have low fees compared to other exchanges.
-Reliable and secure broker
-Fees are not shown on the site but only on the buying price.
The Bitcoin exchange platform has become famous thanks to its availability and a great amount of users. Users can advertise trades and get feedback as well. The platform is particularly popular in the UK.
It has a flexibility of payment methods, and sellers can choose them with freedom. The most popular methods are national bank transfer, Paypal and in-person meetings.
Unfortunately, security is one of the weaker aspects of LocalBitCoins, and many users are complaining about it. There are fewer verification processes than normal and the user can get scammed if not careful. However, that’s where the feedback system comes into play.
-Private, fast, and easy
-In-person trades do not need personal information
-Quick purchases of Bitcoin if a cash deposit is used
-Harder to buy large amounts of Bitcoins when compared to other exchanges
-Scams are not rare, always look at the reviews of a seller or buyer!
-Could have significantly higher prices than regular exchanges
Coinmama is a crypto broker based in Israel. Thanks to its rise in popularity, it now allows customers in most countries to buy cryptocurrency with a credit or debit card.
One of its major features is the ease of small purchases. If you are buying less than $150 worth of crypto, there’s no need to verify your identity. However, one of its big disadvantages are the major fees. Yet, the presence of better security, reliability, and ease of use can compensate.
-Available in most countries
-It has big limits for buying crypto comparing to other sites.
-It is a reliable and trusted broker
-Some of the highest fees among credit/debit card brokers.
There’s a variety of options for people in the UK. The choice all depends on the user level, interface design, and fees. The current most popular crypto exchange might be Coinbase, but other ones of its kind offer interesting advantages for the user.
Image Source: Hacker Noon
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