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Best Coinbase Alternatives UK 2024

Tobi Opeyemi Amure
Reviewed by:
Best Coinbase alternative UK

In a nutshell, the best Coinbase alternatives in the UK are eToro, Kraken, and Uphold. eToro offers a user-friendly platform with social trading features, Kraken is known for its comprehensive security measures and a wide range of cryptocurrencies, and Uphold provides an easy-to-use interface with the ability to trade multiple assets beyond cryptocurrencies.

Although Coinbase is one of the most popular cryptocurrency exchanges, investors are seeking alternatives due to its high trading fees and limited selection of coins.

By evaluating factors such as security, user experience, trading options and customer support, I’ve picked some of the best Coinbase alternatives in the UK in 2024.

I’ll also help you choose the best one for you.

Best Coinbase Alternatives UK Ranked

Here is a quick list of the best Coinbase alternatives to use in the UK based on my hands-on analysis:

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.

  1. eToro – Overall best Coinbase alternative UK
  2. Kraken – Best for Leverage & margin trading
  3. Uphold – Best for trading multiple assets

Best Coinbase Alternatives Compared for UK Investors

Here I’ve compared the Coinbase alternatives based on four key factors you must consider and compare:

RankCoinbase alternativeFeesDeposit feesCryptocurrencies availableGBP deposit methods
1eToro1%
+ market spread
0.5%90+Bank transfer, debit card,
Neteller, Skrill, eToro Money
2KrakenFrom 0.26%£1 fee on
bank transfers
230+Bank transfer, credit card,
cryptocurrency, debit card,
Apple Pay, Google Pay, SWIFT
3Uphold1% trading fee
& 1% spread fee
Debit card fee
of 3.99%
250+Bank transfer (ACH), debit card,
Apple Pay, Google Pay

Best Coinbase Alternative UK Reviews

Using my experience in this field, I’ve compiled a list of the best UK Coinbase alternatives based on four key criteria:

  1. Fees to buy crypto
  2. Deposit fees
  3. Number of cryptos available
  4. GBP deposit methods

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

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

You can read about how we test platforms here.

This article was reviewed by Tobi Opeyemi Amure, a cryptocurrency expert and writer at InvestopediaInvesting.com, and Trading.biz.

1. eToro – Overall Best Coinbase Alternative UK

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.

eToro, overall best coinbase alternative UK.

eToro is the best Coinbase alternative in the UK.

When it comes to buying cryptocurrencies, eToro stands out as a compelling alternative to Coinbase for several reasons.

Firstly, eToro offers a user-friendly and intuitive interface, making it an excellent platform for both beginner and experienced traders.

With its sleek design and straightforward navigation, users can quickly navigate through the platform and execute trades with ease.

One of the standout features of eToro is its unique social trading functionality through its CopyTrader and Smart Portfolios.

These features allow users to follow and copy the trades of successful traders on the platform, enabling beginners to learn from experts and potentially improve their trading outcomes.

This social aspect sets eToro apart from Coinbase, making it an attractive choice for those looking to engage with a community of like-minded traders.

Furthermore, eToro distinguishes itself with its fee structure. While Coinbase charges a variety of fees, including transaction fees and spread markups, eToro operates on a fixed 1% trading fee for buying and selling cryptocurrencies.

This transparent approach to fees can result in significant cost savings for frequent traders.

On top of this, they have an ‘Excellent’ rating on Trustpilot (which is quite rare for crypto exchanges), with over 18,000 reviews.

eToro Trustpilot review.

Read my complete eToro review.

  • Fees: Crypto trading fees are 1%.
  • Supported Assets: 92 cryptocurrencies, stocks, indices, commodities, fiat currencies and ETFs.
  • Customer Support: 24/5 support via live chat, email and ticket system.
  • GBP Deposit Methods: Bank Transfer, Debit Card, eToro Money, Skrill, Neteller, Rapid Transfer & Trustly.

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. Kraken – Best for Leverage & Margin Trading

Kraken, the best Coinbase alternative UK for leverage and margin trading.

Kraken is the best Coinbase alternative for those who want to actively trade cryptocurrency in the UK.

Established shortly after the advent of Bitcoin, Kraken is one of the pioneering crypto exchanges, currently supporting 237 digital currencies.

It caters to both novices and seasoned professionals, providing sophisticated tools and an API for enhanced adaptability.

With trading fees spanning from 0.16% to 2%, and even lower rates on its Kraken Pro service, it ranks as one of the most cost-effective exchanges in the UK.

Hence, for seasoned traders in search of an economical exchange for frequent transactions, Kraken is an excellent choice.

  • Fees: 0.16% – 2%.
  • Supported Assets: 221 cryptos.
  • Regulation: FCA.
  • Customer Support: Live messaging support and phone support are available 24 hours a day, seven days a week.
  • GBP Deposit Methods: Bank Transfer, Faster Payments Transfer, SEPA, Swift.

3. Uphold – Best for trading multiple assets

Uphold, a top Coinbase alternative for trading multiple assets.

For individuals and businesses seeking a platform that enables seamless crypto transactions, crypto earnings through staking, and the ability to trade a variety of assets, Uphold is a top-rated alternative to Coinbase.

While Uphold falls short in advanced trading capabilities, it offers several unique features and advantages worth considering.

One notable advantage of Uphold is its ability to facilitate cross-trading between cryptocurrencies, stocks, precious metals, and fiat currencies.

This versatility allows users to diversify their investments and explore different asset classes within a single platform.

Additionally, Uphold supports instant purchases of cryptocurrencies using credit and debit cards, as well as popular payment methods like Apple Pay and Google Pay, providing convenience and accessibility.

When compared to Coinbase, Uphold may have a more limited selection of cryptocurrencies, supporting around 250+ digital assets.

However, Uphold compensates by offering lower trading fees, particularly for popular cryptocurrencies like Bitcoin, Ethereum, and mainstream coins. This cost-effective approach can be beneficial for frequent traders.

While Coinbase may offer a wider range of cryptos, Uphold provides attractive features such as its Uphold Mastercard, which offers rewards of up to 2% when using crypto for purchases.

Uphold also caters to businesses with its comprehensive business services and APIs, facilitating seamless integration and enhanced functionality.

Uphold supports crypto staking, providing users with up to 24% in staking annual percentage yields (APYs).

However, Coinbase may have an edge in terms of staking options, offering higher APYs, particularly for newer tokens.

Coinbase also presents a broader selection of tokens available for staking compared to Uphold.

Uphold is a versatile alternative to Coinbase, excelling in facilitating crypto transactions, supporting cross-trading of various assets, and offering competitive trading fees for popular cryptocurrencies.

While it may lack advanced trading features and a diverse crypto selection, it’s unique offerings such as the Uphold Mastercard and business services make it an attractive choice for those seeking a comprehensive crypto platform.

  • Fees: Deposits are free when funded by a bank account, debit/credit card, using Bitcoin, or from another Uphold account. Crypto trading fees range between 0.8% and 1.2%.
  • Supported Assets: 250+ cryptos, shares, precious metals and fiat currencies.
  • Regulation: FCA.
  • Customer Support: 24/7 support via live chat and email.
  • GBP Deposit Methods: Bank Transfer, Credit/Debit Card, SEPA, Google Pay & Apple Pay.

How to Choose the Best Coinbase Alternative UK

Choosing the best Coinbase alternative in the UK requires careful consideration of several factors.

Here are some key aspects to keep in mind when making your decision:

  • Cryptocurrency Selection: Evaluate the range of cryptocurrencies supported by the alternative platform. Look for exchanges that offer a diverse selection of coins, including popular cryptocurrencies and emerging digital assets.
  • User Experience: Consider the user interface and overall user experience provided by the alternative platform. Look for intuitive and user-friendly interfaces that make it easy to navigate, trade, and manage your assets.
  • Fees and Pricing: Compare the fee structures of different platforms. Look for exchanges with competitive fees, including transaction fees, deposit and withdrawal fees, and any other applicable charges. Pay attention to hidden fees and be aware of any additional costs associated with specific services.
  • Security Measures: Ensure that the alternative platform prioritises security and employs robust measures to protect your funds and personal information. Look for exchanges with two-factor authentication, cold storage for cryptocurrencies, and a strong track record of security practices.
  • Regulatory Compliance: Verify that the alternative platform operates within the legal framework and is compliant with relevant regulations. Choose exchanges that are licensed and regulated by reputable authorities to ensure a higher level of trust and accountability.
  • Customer Support: Consider the quality and availability of customer support provided by the alternative platform. Look for exchanges that offer responsive customer service channels, such as live chat, email support, or phone support, to address any issues or concerns you may have.
  • Trading Features: Assess the trading features and tools available on the alternative platform. Look for exchanges that provide advanced trading options, such as limit orders, stop-loss orders, and margin trading, if you require more sophisticated trading functionalities.
  • Reputation and Trustworthiness: Research the reputation and track record of the alternative platform. Read user reviews, check industry forums, and look for any notable incidents or controversies associated with the exchange. Opt for exchanges with a strong reputation for reliability and trustworthiness.
  • Liquidity: Consider the liquidity of the platform, especially if you plan to engage in larger trades. Look for exchanges with sufficient trading volume and liquidity to ensure smooth execution of orders.
  • Additional Features: Explore any additional features or services offered by the alternative platform that align with your specific needs. This may include options like social trading, staking, lending, or access to other financial products.

By carefully evaluating these factors, you can select the best Coinbase alternative in the UK that aligns with your trading goals, preferences, and priorities.

Remember to conduct thorough research and compare multiple platforms to make an informed decision.

Final Thoughts

Coinbase is often one of the first platforms newcomers to crypto use that does a decent job of satisfying their basic needs.

However, it’s also one of the most expensive options in the market.

There are many alternatives to Coinbase out there, and it’s worth researching them all to see if they meet your specific needs better.

All things considered, I highly recommend using eToro as a Coinbase alternative, regardless of your level of experience.

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.

FAQs

Is Kraken better than Coinbase?

Both Kraken and Coinbase have their strengths and weaknesses, and the choice between them depends on individual preferences. Kraken offers advanced trading features and lower fees, while Coinbase provides a user-friendly interface and a wider range of supported cryptocurrencies.

What is the best Coinbase UK alternative for inexperienced investors?

While it’s widely known for its high trading fees, Coinbase still stands out as a great platform for newbies. However, there’s no harm in considering eToro if you are completely new to this field and looking for an efficient platform with an easy-to-use interface and low trading fees. 

Is Coinbase safe to use in the UK?

Yes, Coinbase is generally considered safe to use in the UK and authorised by the FCA. It is a reputable and regulated cryptocurrency exchange that has implemented security measures to protect user funds and personal information.

What is the UK equivalent of Coinbase?

In the UK, eToro is a prominent equivalent to Coinbase for cryptocurrency trading. It offers a user-friendly platform with a wide range of cryptocurrencies and social trading features, catering to both beginners and experienced traders.

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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. Your investments value may go up or down. Your capital is at risk.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilising publicly available non-entity specific information about eToro.

eToro is trusted by over 30 million users worldwide. It's the #1 crypto exchange in the UK.
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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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