Are you looking for the best-regulated cryptocurrency trading apps in the United Kingdom? Well, worry no more because we have you covered with an expert review of the top three rated cryptocurrency trading platforms in the U.K.
The process of picking a cryptocurrency exchange can be disheartening since not every brokerage is right. If you inquired from a crypto guru or a veteran on how they acquired their first cryptocurrency, probably they will explain how they squandered considerable sums of cash and time on fishy, expensive and inept crypto exchanges back then.
Factors to Consider before Choosing a Crypto Exchange
There are some factors to contemplate before diving into any cryptocurrency trading platform that has been suggested to you. The key elements include safety measures, liquidity, trading volume, ease of use, the background, charges, and available markets. Discovering an excellent crypto platform that caters for all your needs can take a while and endeavour, although it is worthwhile.
A simple method to land the best exchange is to read reviews prepared by experts in the field. Notably, it is essential to differentiate between crypto to fiat exchanges to crypto to crypto exchanges. The first refers to platforms that allow one to trade digital currencies with fiat currencies such as USD, EUR, Pound; while the latter will enable one to trade between cryptocurrency pairs.
Once you find an exchange that matches your needs, examine some other elements as well:
- Security: The most vital aspect of a cryptocurrency trading platform is its security. If an exchange has inadequate security measures, your funds can only survive at the mercy of hackers.
- Underlying tech: The official address of a crypto trading platform should start with HTTPS and not HTTP. For account login safety, two-factor authentication should be available. Also, it might be handy to whitelist your I.P. address or wallet address for an extra layer of security.
- Regulatory aspect: It is advisable to use a trading platform based in the same country you are residing to make it flexible to comply with regulatory changes. However, the possibility of utilizing overseas platforms is there.
- Fees: Most platforms charge fees less than 1 percent for every transaction. However, it might even drop down further depending on your trading volume. Besides, find out the withdrawal fees as some platforms have unrealistically high fees.
- Ease of use: Is the user interface easy to navigate in both desktop and mobile versions? What are people saying about the platform, both the negative and positive aspects? Furthermore, if you are a private person, you don’t want to choose an exchange that is asking for many details about you.
- Liquidity: The larger the trading volume a platform has, the more liquid the platform is. More liquid platforms process transactions at a much faster speed, minimizing the risk of rapid price volatility. Notably, liquidity can also defer between different trading pairs.
Top 4 Recommended Crypto Trading Apps in the U.K.
Bitcoin Profit App Is one of most famous apps that allows automated trading cryptocurrencies and has tons of good reviews from people who have purchased the app and made earnings. Bitcoin Profit was created with the average trader in mind with amazing simplicity and it is very much harmonious with different digital currencies available in the market.
Generating income through cryptocurrency trading is very possible with the use of trading platforms such as Bitcoin Profit. The app is characterized by high regular earnings, firm online security, fast withdrawals and a reliable customer assistance system that is ready to assist clients regarding the features of the automated trading app.
The developers have also integrated an intelligent payout system that works automatically after the end of a trading session. The system automatically deduces the commission from the profits generated.
eToro is considerably U.K.’s most popular cryptocurrency trading platform. The platform allows one to trade commodities, stocks, indices, cryptocurrencies and the forex market all under one platform. Furthermore, eToro is easy to use for newbies thanks to its tidy social feature dubbed “Copy Trading.” It lets a trader follow what other traders on the platform are trading.
The platform started as a marketplace for trading traditional financial instruments but added digital assets to keep abreast with the developing markets and ever-rising demands. eToro has more than 5 million registered traders from all over the world, maintaining its status as the industry’s pacesetters in social trading.
eToro offers a variety of cryptocurrencies to trade including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar Lumens and Ripple’s XRP. Bitcoin Profit
Low fees. Withdrawal charges were scaled down recently, and traders can withdraw as little as $5 not including your payment processor’s charges. eToro also charges inactivity fees of $10 every month after one year of being inactive. This is pretty fair considering what other brokers are offering.
The eToro Club provides users with a custom-made trading adventure. Some traders can be awarded allowances such as discounts and assigned a steadfast account manager. There are five different levels depending on the traders maintaining between $5k-250k.
eToro’s Popular Trader Program allows users to generate some extra profits by rewarding seasoned traders for sharing their understanding with others on the platform. The trading app focuses on how traders can profit from assisting others in the forum. eToro has a hands-on news feed feature and motivates users to interact.
PayPal deposits & withdrawals make transactions on the platform effortless and also symbolizes trust.
Coinbase is an American-based cryptocurrency trading platform that has grown increasingly popular in the United Kingdom. If you want to acquire crypto assets, download the Coinbase app and purchase cryptos like BTC from one of the most secure cryptocurrency trading platforms in the world.
Coinbase is backed by trustworthy names and has raised more than $500 million as of August this year. The trading platform hosts more than 30 million users from the supported countries. One downside is that Coinbase does not accept credit cards as a means to fund the account excluding in Australia.
Coinbase is trusted by more than 30 million users worldwide securing its status as the world’s most popular go-to place to buy and sell cryptos. Its vast audience indicates that it is a trustworthy and reliable trading app.
Furthermore, Coinbase is a registered cryptocurrency brokerage based in San Francisco. First of all, its top-level investors are compliant to regulations on top of its highly regulated location. It is incredibly improbable for Coinbase to steal your funds.
Coinbase is secure and protects investor funds well. The U.S.-based brokerage has never suffered a hack despite its huge trading volume and holding a lot of client funds. Coinbase is so good on cybersecurity that it prevents its users from falling victim to scams happening outside the brokerage.
Coinbase also offers a variety of cryptocurrencies to trade on top of bitcoin, has high liquidity and limits. It’s easy to use interface is encouraging to new traders.
Belarus-based Currency.com is a radical online trading app which allows traders to trade traditional instruments as well as digital currencies like bitcoin. The trading platform will enable you to buy and sell over 1,300 tokenized securities, tokenized stock indices and other commodities. The app is designed for cryptocurrency traders who want to invest in the world’s financial markets using cryptocurrencies.
Access to over 1,300 tokenized securities. A user can buy and sell top cryptocurrencies, tokenized assets like gold and oil, tokenized stocks, government bonds and more are expected to be incorporated.
It is easy for new traders to buy cryptos like Bitcoin, Ethereum, and Litecoin using a credit card. The app supports payment through cards like Visa and MasterCard and bank transfers. This makes it easy for them to transition into the digital world.
Currency.com is a safe and regulated brokerage. The brokerage is under the jurisdiction of three regulatory bodies making it a dedicated app. The platform is also very open with its transactions. The platform is available in the desktop version, and both IoS and Android mobile applications.