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Summary
- There are different crypto exchanges in the UK that allows to trade in cryptocurrencies.
- These exchanges offer multiple types of cryptocurrencies in which one can trade.
The UK has no specific cryptocurrency laws and cryptocurrencies can be directly bought or sold through various exchanges available. However, there are multiple option available for the crypto exchanges, one should choose wisely depending upon the speed, fee structure, review for the exchange and ease to transact.
What is an Exchange?
Exchange is a marketplace where financial instruments such as securities, commodity, derivatives, and cryptocurrencies are traded. An exchange ensures smooth, transparent, and orderly trading. The exchange also acts as a platform to raise capital and allows companies to list themselves, after that, look for effective dissemination of the prices.
Cryptocurrency is a virtual currency based on a network that is designed to work as a medium of exchange distributed across a large number of computers. Due to the decentralised structure, cryptocurrencies are not regularised by the government or any centralised authority, which makes them volatile. However, there are many exchanges in the UK that allows trading of cryptocurrencies like Bitcoin, Ethereum and Dogecoin, let us have a look.
- Coinbase: The company was started in 2012 with an aim to spread the secure network for carrying out transaction in Bitcoin. Coinbase has close to 56 million verified user base and operates in over 100 countries focusing solely on cryptocurrency. The quarterly traded volume of the company stood at $335 billion. The number of cryptocurrencies supported by the Coinbase platform is 51.
Also read: Who should invest in cryptocurrencies?
- eToro: The world’s leading social trading network allows users to buy and sell financial instrument. Founded in 2007, eToro functions as a brokerage house that offers trading in stocks, ETFs, or commodities along with cryptocurrency. The eToro exchange allows you to deal in 18 cryptocurrencies and support PayPal for buying the cryptocurrency outside the US. Moreover, if you deposit money in US dollar, no extra fee will be charged.
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- com: An online platform that allows you to trade in more than 100 cryptocurrencies. Crypto.com have a user base of over 10 million. Crpto.com also has its app that supports 21 different fiat currencies, issued by government and not backed by a physical commodity. Cryto.com also offers MCO Visa Card, the world’s first free, metal, and crypto-linked Visa card.
Also read: 5,000% in 14 months! Can ethereum reach $50,000?
- Gemini: Founded in 2014, Gemini allows you to offer price discovery through trading activity, as well as storage for crypto along with their usual buying and selling. Gemini offers a custodial service that holds $200 million in insurance for its crypto holders. Gemini offers to trade in 26 crypto assets. Gemini also Supports fiat deposits in USD, GBP, CAD, EUR, SGD, HKD, AUD.
- Coinjar: Launched in 2013, Coinjar offers a simple platform to trade in high liquidity coins such as BTC, ETH, LTC, XRP, and XLM, along with other cryptocurrencies. The platform is easy to use, just like e-banking services. Coinjar has 400K+ users and holds over $75 million assets under custody.
