With the increasing popularity of Bitcoin, the number of Brits searching for “Where and how to buy Bitcoin UK” has increased tremendously over the years.
So, if you’re also searching the same thing, you’re definitely going to get a lot of options because there are hundreds of cryptocurrency exchanges where you can buy or sell bitcoin and altcoins. But which bitcoin broker is your best bet to avoid sob stories?
First, what are Bitcoin Exchanges?
If you’re a UK investor trying to buy your first bitcoin, these exchanges are your go-to place for buying. A Bitcoin exchange can be likened to any normal stock exchange but in this case instead of investing money to buy stocks, your money is used to buy bitcoin or any other cryptocurrencies.
But much easier and accessible than the traditional Stock Exchange.
However, which of these cryptocurrency exchanges is the best?
As a matter of fact, the answer to this is relative, as the needs of every user is unique, so there is no one size fits all.
One user might want a P2P bitcoin exchange in order to get more direct interaction while another person might want a Centralized Bitcoin exchange in order to trade anonymously.
So, here is a list of the top Bitcoin exchanges in the world based on certain criteria like ease of registration, speed of transactions & countries they operate it etc.
Here are the top 5 Bitcoin Exchanges
Binance Exchange
It is one of the largest bitcoin exchanges in the world with one of the highest volumes of crypto exchanges plus it supports lots of coins.
Although based in Malta, Binance can be used in anywhere in the world and their trading fees are pretty reasonable at 0.05% per trade.
The Binance app is considered one of the best cryptocurrency mobile apps available on iOS and Android.
To join Binance, you are required to submit your email Id and fill in your personal details.
After registration, you can start to trade but there is a limit and to upgrade your limit, you’re required to complete ID verification.
Earlier this year, Binance was hacked and 7,000 worth of bitcoins was stolen but Binance still remains one of the most reliable exchanges to buy BTC online.
Coinbase Exchange
Another top and popular bitcoin exchange is Coinbase.
Based in the U.S and currently operates in only 32 countries, Coinbase has a very user friendly interface. Even if a person who has never bought bitcoin can purchase effortlessly.
Registration on Coinbase is easy but you are required to do ID Verification before you’re able to add your debit/credit card.
Changelly Exchange
Fast! One word that describes the speed at which you can buy or sell bitcoins on Changelly. Changelly is a crypto exchange website known for its simplicity and speedy bitcoin purchase features. All that is required is for you to input the amount of bitcoin or whatever currency you want to buy and how much you would pay for it in whatever cryptocurrency.
Bittrex Crypto Exchange
This is one of the largest crypto exchange websites in the world. The company which is based in the U.S handles one of the largest BTCUSD trading volume in the world and supports the trading of over 100 altcoins.
To start buying bitcoin on Bittrex is very easy, all you need is your email.
But when withdrawing, but you would need complete your ID verification and submit your phone number, as well as enable two-factor authentication.
Seems like a lot?
Don’t worry, Bittrex exchange has one of the fastest verification processes in the Crypto exchange space and their security is top-notch.
The downside of Bittrex is that it doesn’t allow you deposit fiat money like USD or EUR, rather you can only deposit Bitcoin or any other supported coin to trade on the exchange.
Bittrex charges 0.25% flat for transactions
Etoro Social Trading Platform and EtoroX
The eToro social trading platform is known for its security and this is why it is one of the most trusted cryptocurrency trading platfrom in the world. UK iinvestor will be comforted by the fact that Etoro is a regulated company with a Head Office in London Canary Wharf. The company constantly post videos and webinar on finance, blockchain, bitcoin how it works and much more.
One of the main feature of the Etoro platform is copytrading.
This allow brand new investors to follow and copy trades from savvy investors, which is a good way to learn to trade and potentially make money at the same time.
Etoro operates globally and registration is a breeze. Etoro has recently launched the Etorox digital asset platform that aim to bring higher standard of transparency and regulation within the cryptocurency trading industry.