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Best Bitcoin Brokers in the UK for 2024

Tobi Opeyemi Amure
Reviewed by:
Best Bitcoin brokers UK

In a nutshell, the best Bitcoin brokers in the UK are eToro, known for its social trading platform and user-friendly experience; Uphold, which offers a transparent trading environment with a diverse range of over 250 altcoins; and Coinbase, favored for its simplicity and educational resources, making it ideal for beginners.

In the ever-changing landscape of cryptocurrency trading, selecting a trustworthy Bitcoin broker in the UK is essential.

I have meticulously evaluated and compared numerous platforms to present you with a guide to the best options, ensuring you can make an educated decision in this complex market.

Best Cryptocurrency Brokers in the UK Ranked

Here is a quick list of the top options in the UK based on my hands-on analysis:

Don’t invest unless you’re prepared to lose all the money you invest.

  1. eToro – Best for beginners
  2. Uphold – Best for selection of altcoins
  3. Coinbase – Best for first-time investors
  4. OKX – Best for low fees for advanced traders
  5. Bitstamp – Best for reliability
  6. Coinmama – Best for spending limits

Top Options Compared for UK Traders

Here I’ve compared the brokers based on three key factors you must consider and compare:

RankBrokerBTC trading feesDeposit feesGBP Deposit Methods
1eToro1%
+ market spread
0.5%Bank transfer, debit card,
Neteller, Skrill, eToro Money
2Uphold1% trading fee
& 1% spread fee
Debit card fee
of 3.99%
Bank transfer (ACH), debit card,
Apple Pay, Google Pay
3Coinbase1% commission
+ 0.5% spread fee
Debit card fee
of 3.99%
Bank transfer, credit card,
crypto, debit card, PayPal
4OKXUp to 0.1%Built into the BTC/GBP
exchange rate
Bank transfer, credit card,
crypto, debit card, Apple Pay
5BitstampFrom 0%4%Bank transfer, credit card,
crypto, debit card
6CoinmamaUp to 3.9%4.5%Bank transfer, credit card,
crypto, debit card

How We Tested & Rated

Bitcoin is gaining traction in the UK and reshaping the financial scene daily1, nearly 4.97 million people in the UK hold some form of crypto asset, which is nearly 10% of the population2.

The complexities put many people off, but I’m here to shine some light on it.

Using my experience in this field, I’ve compiled a list of the best options based on three key criteria:

  1. BTC trading fees
  2. Deposit fees
  3. GBP deposit methods

Factors such as usability, education materials, and additional features were also considered.

All the brokers I’ve reviewed below are registered with the UK’s financial watchdog, the Financial Conduct Authority (FCA), and have apps available on Android and iOS.

Why Trust Us?

I’ve worked in the retail investment & crypto sector in London over the last four years. I worked for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor” where I was able to work with and test some of the biggest cryptocurrency brands on the market.

I hand-test each platform I review, many of which I use for personal use. I’m editorially unbiased and only recommend products I’d recommend to my family. You can read about my process and methodology for reviewing platforms here, ‘how we test‘.

Additionally, this article was reviewed by Tobi Opeyemi Amure, a cryptocurrency expert and writer at Investopedia and Investing.com to ensure accuracy.

1. eToro – Best for beginners

Don’t invest unless you’re prepared to lose all the money you invest.

eToro – Best for beginners.

eToro, founded in 2007, is a top-rated Bitcoin broker in the UK, known for its security and user-friendly approach.

Its FCA registration affirms its trustworthiness. The account setup is swift, with a variety of UK payment options, including e-wallets and bank transfers, making it easy to start trading.

With a low minimum deposit and access to over 90 cryptocurrencies, eToro caters to both beginners and seasoned traders.

Its CopyTrader feature stands out, allowing users to replicate the moves of successful traders, and its smart portfolio service provides managed diversification.

Additionally, eToro offers commission-free stock trading, along with ETFs, forex, commodities, and indices. The platform’s interface is intuitive and accessible via web and mobile, it also offers a secure Bitcoin wallet for digital asset storage.

Charges are clear, with spreads on trades and a reasonable initial deposit requirement.

eToro equips users with analytical tools and a demo account for practice, positioning itself as a comprehensive option for UK residents

Key rating criteria:

BTC trading feesDeposit feesGBP deposit methods
1% +
market spread
0.5%Bank transfer,
debit card, Neteller, Skrill,
eToro Money

Pros:

  • Low minimum investment requirement of $100
  • Instant purchase using a UK debit card
  • Smart portfolios for passive investing
  • Convenient wallet app available for iOS and Android

Cons:

  • Limited advanced analysis tools that experienced traders may require

Read my full eToro review.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

2. Uphold – Best for selection of altcoins

Uphold - Best for selection of altcoins

Uphold is a solid option in the UK, offering an extensive range of over 250 altcoins.

This includes not only major players like Bitcoin and Ethereum but also a variety of meme coins, DeFi coins, and stablecoins.

The broker operates on a variable spread model for trades, typically between 0.8%-1.2% for popular coins, with no commission fees.

It distinguishes itself with transparency, providing real-time insights into its reserves for users concerned about liquidity. Security is also a priority, with regular third-party audits to ensure the safety of customer funds.

Besides Bitcoin, Uphold allows trading in stocks and commodities, though its primary strength lies in digital currencies.

It’s recommended for those interested in a diverse portfolio, while eToro might be preferred for those seeking additional trading features.

Key rating criteria:

BTC trading feesDeposit feesGBP deposit methods
1% trading fee
& 1% spread fee
Debit card fee
of 3.99%
Bank transfer (ACH), debit card,
Apple Pay, Google Pay

Pros:

  • 250+ altcoins 
  • Preview the spread before every trade
  • Transparent financial reserves
  • Third-party security audits

Cons:

  • High spreads on lower-volume assets

3. Coinbase – Best for first-time investors

Coinbase – Best for first-time investors

Coinbase, since its inception in 2012, has become a benchmark for reliability in the crypto industry.

Listed on the NASDAQ, it extends a sense of transparency to its operations, appealing to UK users with its straightforward trading process and diverse payment options, including debit/credit cards and PayPal.

The platform’s altcoin selection is broad, featuring over 250 digital assets, from leading coins like Bitcoin to various ERC-20 and DeFi tokens.

UK investors should note Coinbase’s fees, which are 1.49% for standard trading and 3.99% for card and PayPal transactions.

Coinbase prioritises security, with 98% of assets in cold storage, and measures like two-factor authentication enhance user safety. Its interface caters to newcomers, with a low minimum purchase of £2 and features like automated recurring buys.

Despite higher fees, Coinbase’s ease of use and educational resources make it a top pick for beginners in the UK.

The mobile app ensures trading flexibility, further establishing Coinbase as a user-centric platform, although fee-conscious traders should weigh the costs.

Key rating criteria:

BTC trading feesDeposit feesGBP deposit methods
1% commission +
0.5% spread fee
Debit card fee
of 3.99%
Bank transfer, credit card,
crypto, debit card, PayPal

Pros:

  • Simple to use interface
  • Reliable wallet
  • Coinbase Visa card to spend crypto worldwide

Cons:

  • High fees & complicated structure
  • Customer support tends to be slow

4. OKX – Best for low fees for advanced traders

OKX – Best for low fees for advanced traders.

OKX, known for advanced trading features, serves over 20 million users globally and stands out as a leading Bitcoin broker in the UK.

The platform lists over 340 digital currencies, including Bitcoin and Ethereum, catering to both experts and novices.

OKX combines ease of use with sophisticated tools like technical indicators, TradingView integration, and a variety of order types.

Beginners benefit from the Convert feature for feeless crypto swaps and an ‘instant buy’ option for straightforward purchases using cards and e-wallets.

The platform offers avenues for investment growth such as staking and savings accounts with attractive APYs. OKX prioritises asset safety, storing the majority in offline storage and using advanced security for online assets.

With educational resources readily available, OKX provides knowledge alongside trading opportunities. With low trading fees of up to 0.1% and a $10 minimum deposit, OKX caters to diverse Bitcoin trading needs in the UK.

Key rating criteria:

BTC trading feesDeposit feesGBP deposit methods
Up to 0.1%Built into the BTC/GBP exchange rateBank transfer, credit card,
crypto, debit card, Apple Pay

Pros:

  • Advanced charting tools and a range of technical indicators
  • Provides earning options, such as BTC savings accounts
  • Features a decentralised trading app that also serves as a wallet for added convenience

Cons:

  • Fees are integrated into the BTC/GBP exchange rate

5. Bitstamp – Best for reliability

Bitstamp – Best for reliability

Bitstamp stands out in the UK as a reliable crypto broker, offering extensive support to those navigating the cryptocurrency market.

Its 24/7 customer service via phone and email, and insightful ‘Crypto Pulse’ report, provide valuable assistance to traders.

Established over ten years ago, Bitstamp is known for its dependable order execution, supported by high liquidity and consistent uptime. It boasts a selection of 75 altcoins and equips advanced traders with sophisticated tools like APIs and real-time data.

Security at Bitstamp is stringent, with 98% of assets in cold storage and robust protection measures for transactions and personal data.

The mobile app and straightforward account setup enhance trading convenience, and most deposit methods are free, with competitive trading fees up to 0.5%.

Bitstamp’s fee structure is particularly appealing for lower-volume traders, offering 0% commission on trades under $1,000. For UK users, while debit card payments incur a 4% fee, bank transfers offer a free alternative.

Its blend of strong customer support, advanced trading tools, and a clear fee schedule positions it as a top brokerage for both experienced traders and newcomers in the UK.

Key rating criteria:

BTC trading feesDeposit feesGBP deposit methods
From 0%4%Bank transfer, credit card,
crypto, debit card

Pros:

  • Bitcoin staking
  • Good customer support team
  • 98% of assets stored in cold wallets
  • Impressive user interface simplifies the trading experience
  • Withdraw Fiat money directly to a bank account

Cons:

  • Not the largest selection of coins
  • Lack of margin trading or lending features

6. Coinmama – Best for spending limits

Coinmama – Best for spending limits

Coinmama, since 2013, has built a reputation as a trustworthy brand in the UK, particularly for those intending to make large purchases, with limits reaching $30,000 per transaction.

The platform is known for rapid delivery of Bitcoin, often within 10 minutes, and supports a wide range of payment options like bank cards and e-wallets.

Coinmama ensures users maintain control over their digital assets by not storing payment details, aligning with security-conscious preferences.

The platform is tailored for beginners, offering a straightforward experience and educational resources, but it may not meet the needs of traders seeking in-depth analysis tools.

Verification is efficient, and transactions start at $30 but rise to $250 for SWIFT and $500 for Fedwire. Fees are variable: a 5% fee for card transactions and 2.5% for Skrill, with commissions up to 3.9% that can be reduced with higher loyalty levels.

Coinmama is a good choice for fast, simple, and substantial transactions in the UK, with a fee structure that reflects its convenience and security measures.

Key rating criteria:

BTC trading feesDeposit feesGBP deposit methods
Up to 3.9%4.5%Bank transfer, credit card,
crypto, debit card

Pros:

  • Quick KYC process
  • Instant transfer of Bitcoin assets to users’ wallets

Cons:

  • Higher fees compared to other brokers

Factors to Consider When Choosing

Choosing the best broker for buying Bitcoin in the UK requires careful consideration of various factors.

Along with the key rating criteria I used to rank them, here’s what to look for:

  • Regulation and Licensing: Ensure the broker is regulated by reputable authorities such as the UK’s Financial Conduct Authority (FCA). This offers protection against fraudulent practices and provides a level of security for your funds.
  • Fees and Costs:
    • Trading Fees: Compare the trading fees or commissions charged. Some offer a flat fee, while others might have a percentage-based fee.
    • Deposit/Withdrawal Fees: Check if there are fees associated with depositing or withdrawing funds.
    • Hidden Fees: Always read the fine print to avoid unexpected charges.
  • Range of Offered Cryptocurrencies:
    • Some might only offer popular cryptocurrencies like Bitcoin and Ethereum. If you’re interested in altcoins, ensure it provides a wide range of options.
  • Platform Usability:
    • Interface: The platform should be user-friendly, especially for beginners.
    • Mobile App: If you intend to trade on the go, check it offers a robust mobile application.
  • Payment Methods: Ensure it supports a variety of payment methods, including bank transfers, credit/debit cards, e-wallets, and more.
  • Security:
    • Cold Storage: Check it stores a significant portion of its assets in offline cold storage.
    • Encryption: Ensure it uses strong encryption techniques to safeguard your data.
    • Two-Factor Authentication (2FA): This adds an extra layer of security to your account.
  • Liquidity: Higher liquidity means your trades can be executed quickly and at your desired prices.
  • Customer Support: Ensure it provides prompt customer service, ideally 24/7. Check if they offer multiple channels for support, such as phone, email, and live chat.
  • Educational Resources: For beginners, it should provide educational resources, tutorials, and market analysis to enhance understanding.
  • Additional Features:
    • Advanced Trading Tools: For experienced traders, tools like technical indicators, charting, and advanced order types can be valuable.
    • Wallet Services: While some traders prefer to use private wallets, others might appreciate an integrated wallet service.
  • User Reviews and Reputation: Check online reviews, forums, and user testimonials to gauge the broker’s reputation in the community. However, always take online reviews with a grain of caution, as they can sometimes be biased or manipulated.
  • Withdrawal Limits and Speeds: If you intend to move significant amounts, ensure it doesn’t have restrictive withdrawal limits and that the withdrawal process is swift.
  • Leverage and Margin Trading: If you’re interested in trading on margin, check it offers this service and understand the associated risks.
  • KYC and Verification Process: Understand the it’s KYC process. While a rigorous process indicates thoroughness, it might also mean longer waiting times for account approval.

Final Thoughts

The UK’s cryptocurrency market offers a wide array of Bitcoin brokers, each tailored to cater to the diverse needs of investors.

From ones designed for beginners like eToro to those that serve advanced traders with expansive offerings like OKX, there’s something for everyone.

It’s crucial to prioritise security, user experience, and the range of assets available when choosing.

FAQs

What are the largest Bitcoin brokers by volume?

Some of the largest brokers by trading volume include Binance, Coinbase, Huobi, and OKEx. These platforms have established significant user bases and handle billions of dollars in transactions daily. Binance, in particular, often leads the pack in terms of global trading volume. However, trading volumes and rankings can fluctuate based on market conditions, regulatory factors, and platform innovations.

Are Bitcoin brokers legal in the UK?

Yes, Bitcoin brokers are legal in the UK. However, they are subject to regulatory oversight. Since January 2020, businesses conducting specific crypto-related activities in the UK must register with the Financial Conduct Authority (FCA) and adhere to its rules and regulations. This includes observing anti-money laundering (AML) and counter-terrorist financing (CTF) standards. While trading and investing in Bitcoin is permitted, consumers need to ensure they are using a registered and compliant broker to ensure legal protections.

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Sources:

  1. https://www.cam.ac.uk/research/news/study-highlights-growing-significance-of-cryptocurrencies ↩︎
  2. https://www.fca.org.uk/publication/research-notes/research-note-cryptoasset-consumer-research-2023-wave4.pdf ↩︎

Will Fenton is the founder of Sterling Savvy. He is a personal finance expert and writes about trading, investing, budgeting, and other financial topics.

Along with his education in Economics & Finance, he has experience working in the financial services industry in London working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”.

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