Overview of Crypto Trading in the UK
Cryptocurrency is legal and regulated in the UK under the Financial Conduct Authority (FCA). The British Pound (GBP) is widely supported, with payment methods like bank transfers and credit cards being popular. Key regulations include the Money Laundering Regulations and the Financial Services and Markets Act.
Top 5 Crypto Exchanges for UK Traders
1. BloFin
Futures Fees: 0.02%/0.06%
✅ Pros:
- No KYC required
- 150x leverage
- Beginner-friendly interface
- 24/7 customer support
❌ Cons:
- Limited passive income options
Overview:
BloFin excels in derivatives trading with 394+ supported coins. Its low fees and deep liquidity make it ideal for active traders.
2. MEXC
Futures Fees: 0.00%/0.02%
✅ Pros:
- Lowest fees (0% maker)
- 2000+ cryptocurrencies
- 300x leverage
❌ Cons:
- Not available in the US
Overview:
MEXC is a top choice for altcoin traders due to its vast asset selection and competitive fee structure.
3. Bitget
Futures Fees: 0.02%/0.06%
✅ Pros:
- 800+ cryptos
- SEPA-friendly
- Copy trading feature
❌ Cons:
- Mandatory KYC
Overview:
Bitget balances accessibility for beginners with advanced tools, including leveraged trading and EUR deposits.
4. Coinbase
Fees: 0.05%–0.60%
✅ Pros:
- Fully regulated
- User-friendly
- Strong security
❌ Cons:
- High spot fees
Overview:
Coinbase is ideal for newcomers seeking a trusted platform, though fees are steeper than competitors’.
5. KuCoin
Futures Fees: 0.02%/0.06%
✅ Pros:
- 800+ assets
- Grid trading bots
❌ Cons:
- Regulatory challenges
Overview:
KuCoin offers diverse altcoin options but faces scrutiny in some regions.
Key Considerations for UK Traders
Regulation & Legality
- The FCA oversees crypto activities under anti-money laundering laws.
- Exchanges must register with the FCA to operate legally.
Taxation
- Capital Gains Tax applies to crypto profits (10%–20%).
- Staking/mining rewards are taxed as income.
Buying Crypto in the UK
- Choose an FCA-compliant exchange.
- Complete KYC verification.
- Deposit GBP via bank transfer or card.
FAQ Section
❓ Is crypto legal in the UK?
Yes, but exchanges must comply with FCA regulations.
❓ Which wallet is best for UK users?
Hardware wallets like Ledger or software options like Trust Wallet.
❓ What are the tax rates?
CGT rates range from 10% to 20%, with a £12,300 tax-free allowance.
Final Recommendation
For a blend of low fees and versatility, BloFin and MEXC are top picks. Always verify regulatory compliance and prioritize security.