Disclosure: This article contains affiliate links. We may earn a commission if you sign up through our links, at no cost to you.
Choosing the right crypto exchange is one of the most important decisions you will make as a crypto investor. The wrong choice can cost you thousands in fees, expose you to security risks, or leave you unable to buy the coins you want.
I have tested all the major exchanges available in the UK and broken down exactly what each one is best for — so you can make the right choice from day one.
Quick Verdict
- Best for beginners: Coinbase
- Best low fees: Binance or Kraken
- Best for trading: Bybit or Bitget
- Best European option: Bitpanda
- Best XRP support: Bitrue
1. Coinbase — Best for Beginners
Coinbase is the most beginner-friendly exchange in the world. It is publicly listed on NASDAQ, regulated in the UK, and your funds are insured. The interface is clean and simple — you can buy Bitcoin in under 3 minutes.
Pros: Regulated and insured, extremely easy to use, great mobile app, supports 250+ coins
Cons: Higher fees than competitors (1.49% per trade)
Best for: First-time buyers who want simplicity and security
🟠 Coinbase Referral Bonus
Sign up through my link and get $10 in free Bitcoin when you buy your first £80 worth.
2. Kraken — Best for Security and Low Fees
Kraken has been operating since 2011 and has never been hacked — a remarkable record in crypto. It offers some of the lowest trading fees available (0.16% maker / 0.26% taker) and is available as both a website and mobile app.
Pros: Excellent security track record, low fees, staking available, 200+ coins
Cons: Interface slightly complex for beginners
Best for: Intermediate users who want low fees and high security
🦅 Join Kraken
Start trading on one of the most trusted exchanges in crypto history.
3. Binance — Lowest Fees and Most Coins
Binance is the world's largest crypto exchange by volume. It offers the lowest trading fees (0.1%, or 0.075% if you hold BNB), access to over 350 cryptocurrencies, and a comprehensive suite of DeFi, staking and savings products.
Pros: Lowest fees, massive coin selection, advanced trading tools, earn products
Cons: More complex, regulatory scrutiny in some regions
Best for: Active traders who want variety and low costs
🟡 Binance Welcome Bonus
Sign up through my referral link and get exclusive welcome bonuses on your first deposit.
4. Bybit — Best for Trading
Bybit has grown to become one of the top 3 exchanges globally. It is particularly strong for derivatives trading and regularly offers generous welcome bonuses for new users. The interface is clean and professional.
Pros: Excellent for futures and spot, great bonuses, fast customer support
Cons: More trading-focused, less beginner-friendly
Best for: Traders who want advanced tools and bonuses
5. Bitget — Best Copy Trading
Bitget is the go-to platform for copy trading — you can automatically mirror the trades of top-performing traders with one click. It is in the top 5 globally by volume and offers competitive fees.
6. Bitpanda — Best for European Investors
Bitpanda is the largest crypto exchange in Europe, regulated under Austrian law. It uniquely lets you invest in crypto, stocks, ETFs and precious metals from one platform.
Bottom Line
If you are just starting out, open a Coinbase account today — it is the safest, simplest option and you get a welcome bonus. Once you are comfortable, add a Kraken account for lower fees on larger trades.
For your taxes, use Koinly — it connects to all these exchanges automatically and generates your HMRC tax report in minutes.
