Finding the best and regulated crypto exchanges in the UK depends a lot on the digital asset you plan to trade as a beginner. Also, one of the things you will have to consider as a beginner is the requirement that you will need to use the exchange.
Various crypto exchanges in the UK support both major cryptocurrencies and lesser ones. So, to select the best cryptocurrency exchange for you as a beginner, you will have to have in mind your trading needs.
Also, consider factors like the trading fees, their pros and cons, and the selling points of the exchanges. However, in the article, we will be looking at the best crypto exchanges in the UK in 2022 as a beginner.
Top 5 Crypto Exchanges for Beginners
StormGain
This crypto exchange is one of the major exchanges in the UK. It is well adapted for beginners with its amazing features and up-to-date tools for trading. The user interface is advanced yet friendly, and beginners can easily navigate buying BTC with stablecoins and other cryptocurrencies.
This feature allows beginners to leverage cryptocurrency market volatility. Also, beginners can get up to 200X leverage, and they can buy cryptocurrencies and hold them. In addition, the platform supports buying cryptocurrency with fiat. After purchase, you can keep the cryptocurrencies in the wallet in the StormGain exchange.
Lastly, the fees for trading are highly dependent on the type of cryptocurrency. Users in the exchange can pay up to 0.5% trading fees. Then you will pay 0.1% when withdrawing fiats. Also, the minimum withdrawal is dependent on the cryptocurrency you want to withdraw.
Coinfloor
This crypto exchange for beginners was founded in 2013. Currently, it is one of the oldest cryptocurrency exchanges in the UK. As a beginner, you can use this exchange for buying bitcoin and other cryptocurrencies.
Again, if you reside in the UK, you can buy bitcoin with GBP from this exchange. One of the most notable fees of this exchange is its auto buy bitcoin tool. This tool assists users to keep depositing funds in their wallets especially when they want to keep ordering continuously.
Also, as a beginner, you can deposit four fiats on this exchange EUR, GBP, AUD, and USD. Payment options supported by Coinfloor are bank transfers, debit or credit card payments, wire transfers, and SEPA. As a beginner, this exchange is best because it will not charge you for keeping your bitcoin in its vault.
However, when you place a trade on the platform, the exchange will collect Marker and Taker fees. Then, if you trade less than $500,000, GBP, or EUR every month, you will be charged a trading fee of 0.30%. Again, if your trade volume is between 500,000 to 1 million, you will pay a trading fee of 20%.
Finally, if you trade above 1 million, you will be charged a trading fee of 10%.
Wirex
This crypto exchange is an innovative platform that allows users to send, receive, spend and exchange various digital currencies and fiat using a Wirex payment card. As a beginner, you can pay for digital currencies using the Wirex payment card or the application. These elements support both storing of digital currencies and fiats.
Also, a trader can use the card to pay for items when they shop. So primarily, Wirex offers users a platform for transactions with and in both fiat and digital currencies.
As a beginner, bear in mind that you will pay between 1.5% to 2.5% when you use the bitcoin buying services of Wirex. The transaction fee amount fluctuates because of various factors.
EXMO
This crypto exchange is another top-ranking UK exchange that allows users to trade cryptocurrencies and exchange them online. They also have features that allow users to trade fiat currencies for bitcoin, exchange USD for bitcoin, and bitcoin for USD.
This exchange is located in Estonia and it is the ideal exchange for beginners who want to trade cryptocurrencies. They have a simple and easy-to-use interface, adapted for beginners.
Again, the exchange offers users the opportunities to use other fiats apart from the USD. EUR and GBP on the platform. Also, the exchange charges users a 0.05% Marker and Taker fee. If you use other payment options like Visa or MasterCard for transactions, they will charge you a transaction fee of 2.99% with an additional 0.3 EUR.
eToro
This crypto exchange is one of the major cryptocurrency exchanges in the UK with a solid reputation. The platform is a complete financial brokerage. It allows users to trade elements like cryptos, Exchange Traded Funds, Forex, Indices, and commodities. A lot of people from around the world use eToro, including beginners in the UK.
The financial brokerage provides users with a long list of cryptocurrency to fiat pairs like BTC/USD, and ETH/GBP through market orders. Also, as a beginner, you will enjoy using the app because it has a user-friendly interface for cryptocurrency trading.
Also, you can store your cryptocurrency holding in the exchange app. They serve as wallets too for cryptocurrency traders. The platform charges a transaction fee of at least 0.75%. If you are trading long positions, you will pay an additional fee. For withdrawal, the financial brokerage charges are as low as $5.
Wrapping up
In conclusion, we have covered the top-rated crypto exchanges for beginners in the UK. There are pointers we have looked at and ranked. Primarily, we have discussed their services, why they stand out in the market, and their features, tools, and makeup. Also, we have stated why they are best for beginners in the trading ecosystem.
Again, as a beginner, you must ensure that you do not lose sight of your cryptocurrency asset. Make sure that you keep it in your custody at all times. Then, the key to having a safe wallet is to be security conscious.
You must learn that in this space, you are your security. So no matter the case, do not expose your wallet’s private key to anyone or post it online. If you do, hackers will break into your wallet and steal your funds.
Lastly, before you invest in any cryptocurrency listed in your chosen wallet, ensure that you have done your research.