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How to choose a cryptocurrency exchange in the UK

12/11/2018
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Residents of London and other localities in the UK have access to a huge number of trading platforms for buying and selling cryptocurrency. This is facilitated not only by the country's rather liberal legislation but also by the absence of a language barrier. Almost all trading platforms offer English as the main language for communication.

Specificity of cryptoexchanges in the UK and the world

There is not a single trading platform where you can buy any digital asset. Even the best cryptocurrency exchange UK offers no more than 500 pairs of tools. Therefore, if the investor has a desire to purchase some exotic product, they will not be helped. However, in order to buy Bitcoin, ethereum, or another popular cryptocurrency, you will not have to search for a seller for a long time. A typical stock exchange range from 50 to 400 assets.

The main objective of each platform is to ensure a comfortable exchange of cryptocurrencies for other coins and fiat money. In addition, each of them has serious differences in the following parameters:

  • commission amount;
  • a speed of operations;
  • number of trading assets;
  • ways to replenish accounts and withdraw funds;
  • reputation in the market.

And not always the most expensive services are at the most popular sites. Just the opposite. The more customers from the UK and other countries use the services of the exchange, the more profitable services it can offer.

Binance

This exchange is among the ten largest in terms of the turnover of funds. Although it began to work only in 2017, it was already able to gain popularity among customers. The reason for this lies in the fact that the development of the platform took into account the mistakes and developments of its predecessors.

In addition, Binance enjoys the support of large financial institutions. Among them are such big names as Morgan Stanley and SBI Group. The company is developing very actively, for which it attracts well-known experts in cryptocurrency. So, when renowned expert Yi Hye joined her team, the Binance stock price rose by 40%.

Coinbase

This is not so much a stock exchange as a cryptocurrency wallet with the ability to exchange assets. There are operations with only 4 of the most liquid assets but under special conditions. The buyer does not need to look for a seller, Coinbase itself acts as an intermediary.

However, it provides not only the speed of transactions but also a very favourable rate. Therefore, it has a record number of customers, more than 10 million people. Another advantage of Coinbase is its mobile application. It allows you to conduct operations directly from the phone screen.

Poloniex

This is one of the leaders, and the company was able to achieve such a rank due to a record large number of services. Another advantage of it is a very low commission. They do not exceed 0.25% per transaction. And the minimum size starts from zero.

The disadvantage of Poloniex is limited localization. It supports only English. But for residents of the UK, this is not an inconvenience.

Kraken

Deservedly among the top ten, since the first operation was performed here in 2011. An interesting feature of the exchange is the principle of charging fees. The longer the investor works here, the less he has to pay. This approach provides increased customer loyalty.

The number of trading assets on the Kraken exchange also inspires respect. According to this indicator, it is in second place in the world.

This is not a complete list of cryptoexchanges. The British have the opportunity to legally buy and sell digital currency, change it for fiat money, buy Bitcoins for pounds on hundreds of exchanges. Their study will allow you to find favorable conditions and ensure the security of the transaction.

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