Dec 07, · CoinCorner – Best UK Bitcoin Trading Platform for Fast Account Set-Up CoinCorner is more of a Bitcoin broker than a conventional trading platform. That is to say, you will be using the website to purchase Bitcoin and employ a long-term ‘buy and hold’ strategy. Jul 28, · 1. eToro - Best Overall UK Investment Platform eToro is a hugely popular investment platform for newbie traders, with more than 12 million users now active at . 28 rows · Jan 02, · The easiest way to buy Bitcoin in the UK is to use a trusted Bitcoin broker. These services make it as simple as possible to get your hands on some BTC. Their platforms are easy to use, you can pay with GBP using everyday payment methods like your credit card or a bank transfer, and transactions are generally processed quite quickly.
Best platforms to buy bitcoin ukBest Bitcoin Trading Platform UK - Cheapest Platform Revealed
If you visit the official website of any crypto exchange, you would typically find a box that counts the daily trading volume and website visits. Unfortunately, most of the data is either false or has been manipulated before with wash trading.
One of the few reliable organizations that still try to combat and filter the spread of fake information, as well as to bring some more frankness to the industry, is the Blockchain Transparency Institute. Coinmarketcap has live statistics of which exchanges have the largest trade volumes which is a good place to start. These trustworthy sites have found out that Binance and Coinbase have the highest number of website clicks.
They have been continually praised for their efforts to popularize crypto trading in the UK and make it seem less intimidating for novices. They offer account customization, live market data, and charts for market analysis. Are you more interested in trading cryptocurrencies rather than making a simple buy or sell order? First of all, you need a variety of digital assets to make your trading more versatile. You want to choose a platform that offers advanced features such as margin trading, limit and stop offers, over-the-counter OTC services, different market charts, customizable portfolio, futures, etc.
Most of these features will be available to you if you create an account with Binance. For traders drawn to futures investments, Kraken offers up to 50x leverage on returns. It has the same OTC option as Binance, with one-on-one service for high volume traders. One of the biggest challenges for crypto exchanges is dealing with hacker attacks and illegal trading. Investing in sophisticated cybersecurity measures is crucial in the development of any online platform that stores sensitive data and provides financial services.
To elevate the security standards, reliable crypto exchanges obtain licenses and register as money businesses with local or international financial regulators based on the markets and countries they provide services for.
Current regulatory frameworks require mandatory KYC checks for every single customer, monitoring and identifying suspicious trading patterns, reporting illegal activity, conducting third-party audits, mandatory two-factor authentication method, etc.
Our candidates for the safest crypto exchange that have shown a satisfying level of security with consistency are Coinburp, Binance, and Coinbase. The three of them apply encryption protocols to sensitive data and keep the funds in air-gapped cold storage. By now, you already know that Binance has the highest trading volumes which means that their SAFU reserve vault could cover any unfortunate money losses.
As we said in the previous section, KYC checks are mandatory on almost every well-known and respectable exchange. However, not all traders approve of this verification method. If you belong to this group and privacy is of key importance to you as well, you definitely want to learn about the best platforms that require zero documentation to let you purchase cryptocurrencies — Paxful and LocalBitcoins.
These exchanges only ask for your email address to let you access their trading platform and search for a matching order. They let buyers and sellers find each other and agree on the payment method that works best for them. Some users might ask to see your ID before completing the deal, but it will be up to you to accept or deny their offer. Another platform to have in mind if you want to avoid disclosing your identity is Binance. If you want to purchase cryptocurrency with cash, the first option is to look for a Bitcoin ATM if there happens to be one near you.
If you prefer paying with a credit or debit card, use Coinbase or CEX. Unfortunately, card purchases incur the highest fees. Coinbase charges a 3. On CEX. The option to pay via card is also available on LocalBitcoins and Paxful. You can even arrange to meet with your partner in person and pay for your coins in cash.
This is a much riskier option so never agree to meet with that person alone. If none of this works for you, you can buy a Flexpin or Neosurf prepaid voucher that can be spent on exchanges such as Bitit. Another possible classification of cryptocurrency exchange is into custodial and non-custodial. The former decides to store customer information or even their funds providing their own digital wallets , the latter provides no such services.
The most common solutions are smart contracts or atomic swaps. One such decent option is Bisq, a platform where you can purchase Bitcoin with any fiat currency without providing your ID. Sadly, the long waits and slightly higher expenses can put off a lot of traders. If your crypto trading portfolio focuses on ERC tokens, you can check out the decentralized Ox and Airswap protocols. Before you start looking for the right crypto exchange, you need to be confident with your investment plan and strategy.
Do you need fiat to crypto exchange to make the deposits for your first purchases or are you going to trade cryptos only? Are you satisfied with choosing from the top five cryptos or do you need a high liquidity platform that supports altcoins too? Does the exchange have the payment method that works for you? Finally, are you okay with disclosing your identity and providing an ID? If not, simply look for decentralized exchanges. Based on the level of platform and account security, Coinburp, Binance, and Coinbase are the three safest Bitcoin exchanges for UK traders.
They encrypt sensitive data and store funds in offline cold wallets. Similarly to a reserve vault, SAFU can be used to repay customers in case of security breaches. Binance offers the lowest trading fees on crypto to crypto trades. The fees start at 0. If you own some Binance tokens, you can pay the fee with these coins to get an additional discount. In saying that, the most popular Cryptocurrencies are Bitcoin, followed by Ethereum and Ripple. Although for most cryptocurrencies mainstream usage remains an unattainable goal, Bitcoin is getting more and more recognition and acceptance across various industries.
CoinSutra was started in with the mission to educate the world about Bitcoin and Blockchain applications. Check Out Coinmama. Create a Free Account on Coinbase. Create a Free Account on Coinjar. Checkout LocalBitcoins. Check Out Wirex. Check Out Changelly Instant purchase. Checkout Coinfloor.
Harsh Agrawal. An international speaker and author who loves blockchain and crypto world. Join us via email and social channels to get the latest updates straight to your inbox. Related Posts. Show Hide 0 comments.
Leave a Comment Cancel Reply Your email address will not be published. Subscribe to stay updated. Let Me in. Quick Links. YouTube Telegram Twitter Instagram. Coinjar UK. Luno is an FCA-regulated cryptocurrency broker. The provider also offers trading services, with the platform coming jam-packed with technical indicators and other advanced tools.
On the one hand, we really like the 0. This makes the platform one of the cheapest in the cryptocurrency trading scene. However, if you are planning to deposit funds with a UK debit card, you will need to pay a whopping 3. When it comes to tradable cryptocurrencies, Luno only supports Bitcoin, Litecoin, Ethereum, and Ripple.
As such, this is somewhat limited. Finally, we really like the cryptocurrency savings account that Luno offers. The former simply means that you will be buying Bitcoin, keeping hold of the investment for several months or years, and then hopefully — cash out at a higher price.
This is no different from investing in traditional shares. However, Bitcoin trading is a completely different kettle of fish to investing in the long-term. This is because you will be looking to actively buy and sell Bitcoin pairs — making small, but frequent profits from ever-changing prices.
As you can see from the above, you kept your Bitcoin trading position open for just a few days. However, some traders will often keep a position open for a matter of hours or even minutes.
This is known as day trading — and it involves placing several positions throughout the day. It is also important for us to explain that there are two types of pairs that Bitcoin trading platforms in the UK offer. This covers crypto-to-fiat and crypto-cross pairs — which we explain in more detail below. As such, by trading crypto-to-fiat pairs, you will be trading the exchange rate between Bitcoin and a mainstream currency. This pair benefits from the largest amount of trading volume, tightest spreads, and huge amounts of liquidity.
As such, this is the best Bitcoin trading pair to focus on. With that said, Bitcoin trading platforms like eToro offer several other crypto-to-fiat pairs that contain Bitcoin.
As such, if you feel more comfortable trading Bitcoin against the pound, then eToro is going to be your best option. The best UK Bitcoin trading platforms also offer crypto-cross pairs. Put simply, this means that you will be trading Bitcoin against another cryptocurrency.
As you can see from the above, there is no fiat currency involved in the pair. This can make it difficult to quantify your profits and losses. An additional learning curve that you need to get your head around is that of the Bitcoin trading price.
The good news is that the value of Bitcoin works no different from any other asset class. That is to say, the Bitcoin trading price will go up and down on a second-by-second basis — fully dictated by market forces. So, if the demand for Bitcoin is high, more people will buy it. In turn, the price of Bitcoin will naturally go up. And of course — the same is true when demand for Bitcoin is low — meaning its price will decline. As you can now see, this is exactly the same as stock trading or forex trading.
Crucially, Bitcoin is traded on public exchanges. This means that its value will rise and fall naturally — depending on where the money is. Make no mistake about it — generating profits by buying and selling pairs at a Bitcoin trading platform is no easy feat. After all, you need to have a firm understanding of how technical analysis works — especially if you are trading in the short-term.
Learning how to read charts effectively will take months or even years to master. This covers Bitcoin trading robots, third-party signals, and Copy Trading. Automated trading is big business in the traditional stock and forex trading scenes. In fact, the vast majority of hedge funds and financial institutions utilize advanced robots to buy and sell assets on their behalf. After all, automated robots have the capacity to perform at a significantly faster rate than the human brain.
Fortunately, these automated Bitcoin trading robots are not reserved just for large institutions. On the contrary, there are thousands of robot providers active in the space — some good, some bad, and some very ugly. As such, you need to perform lots of research on the robot provider before signing up.
Nevertheless, in order to make use of a Bitcoin trading robot, you will need to use an online broker that compatible with MT4. This is a third-party trading platform that sits between you and your chosen Bitcoin trading platform. Once you follow the above instructions, the automated Bitcoin trading robot will begin placing buy and sell for you.
While Bitcoin robots do all of the bidding for you — some investors in the UK find the phenomenon somewhat uncomfortable. This is because you will be allowing software to use your hard-earned trading capital. Put simply, signals are trading suggestions sent out by a third-party.
In most cases, this will be an experienced human trader that spots a profit-making opportunity. Then, the trader will tell you what orders to place to capitalize on their findings. This will usually come via Telegram, email, or SMS.
As you can see from the above, the best Bitcoin trading signals will provide you with all the required orders need to not only access the trade — but to do so in a risk-averse manner.
The underlying concept of automated Bitcoin robots and signals are great. After all, you can sit back and make money without needing to do any of the legwork.
However, there are thousands upon thousands of providers active in this space — most of which are scams. But, rarely do these guarantees come to fruition. As such, if you like the sound of automated Bitcoin trading but want to ensure that you avoid unsavory scam-artists, we would suggest checking out what eToro has to offer.
Regarding the former, this allows you to select an experienced Bitcoin trader that has a long-standing track record of making monthly gains at eToro.
Then, your personal eToro portfolio will be mirror your chosen Copy Trader like-for-like. As per the above, you made a profit without needing to lift a finger. Best of all, you can rest assured that you are automating your Bitcoin trading endeavors in a safe and secure environment — as eToro is FCA-regulated!
This works in a similar way to the former, albeit, these are professionally managed portfolio investments. In other words, eToro will determine which assets to add to the CopyPortfolio, when to buy and sell, and when to rebalance. In particular, eToro offers a CopyPortoflio that focuses exclusively on cryptocurrencies. This is as close to a traditional index fund as you will get in the Bitcoin trading space — as the portfolio is weighted based on factors like market capitalization, coin value, and recent performance.
Margin trading — otherwise referred to as leverage, allows you to trade with more money than you have in your account. Although the UK has technically left the EU, these rules still remain in place.
This means that the most you can apply is major forex pairs , with other assets coming with lower limits. In order to access these markets, you need to use a CFD broker.
With that in mind, the only way that you will be able to engage with Bitcoin margin trading is to use an unregulated, offshore broker that offers crypto derivatives. It will come as no surprise to hear that we strongly suggest avoiding such platforms, as your capital is at risk.
After all, if the broker collapses — it will likely take your funds with it. There are many benefits — as well as risks, of using Bitcoin trading platforms to buy and sell crypto assets. The obvious starting point here is that Bitcoin — albeit, 12 years old, is still a new and exciting technology that is still well in its infancy. The underlying technology — the blockchain, can do things that we have never seen before.
In addition to the above, Bitcoin is decentralized. All in all, the above characteristics mean that by trading Bitcoin, you can enter the crypto market at a very early stage. This is no different from investing in top-rated internet stocks like Amazon back in the s. But of course, there is no guarantee that you will make money by trading Bitcoin, so do bear this in mind.
As we briefly covered earlier, the best UK Bitcoin trading platforms offer heaps of markets. This covers both crypto-to-fiat and crypto-cross pairs.
This ensures that you can take full advantage of short-term price movements. For example, you might think that Bitcoin is undervalued against the British pound — and place a trade accordingly. On another occasion, you might think that Bitcoin is underpriced against Ethereum. Whatever your prediction, Bitcoin trading platforms offer heaps of pairs and markets that you can access at the click of a button. When you trade traditional assets like stocks and shares, you can only do so during standard market hours.