5 Best Bitcoin Trading Platforms in the UK
In the UK, cryptocurrency trading platforms must meet Financial Conduct Authority guidelines to provide investors with a safe and trustworthy trading experience. But traders still should exercise extreme caution when selecting their platform of choice.
eToro offers an intuitive platform with many popular deposit methods and excellent customer support, while its fees remain competitive.
Phemex
Phemex is a cryptocurrency trading platform offering traders numerous features and benefits. Notably, this platform allows traders to take advantage of leveraged trading up to 100x and has a staking feature allowing users to earn free coins for a set period. Furthermore, this platform supports multiple crypto assets, including BTC, ETH, USDT, ADA and LINK.
The platform employs a maker-taker fee structure that rewards makers by offering lower transaction fees while charging higher fees to takers, helping markets remain efficient while decreasing volatility, while making its platform as secure as possible.
Phemex provides traders with an API for creating trading bots or apps of their own, as well as referral programs and affiliate affiliate programs that reward referring friends or followers with cash bonuses or tokens; its affiliate program gives a cut of profits generated from referrals made. Both of these programs allow traders to generate extra funds without investing any of their own funds in them – perfect for making extra cash without investing any of your own funds! In case you become over-leveraged or experience significant drawdown, Phemex features negative balance protection – which closes and liquidates opened trades automatically if this occurs in case your opening trades become over-leveraged or encounter an extended drawdown situation – helping you earn extra funds without investing any of your own funds! Phemex features negative balance protection which automatically closes and liquidates opened trades if this occurs, saving any of your own funds being involved! Phemex features negative balance protection which automatically closes and liquidates opened trades if overleveraged, potentially protecting users against overleveraged positions in case over-leveraged or facing massive drawdown scenarios occur. Phemex also features negative balance protection which closes or liquidates opened trades as soon as it detects excessive leveraged or overleveraged or over-leverage occurs! Phemex features negative balance protection in case over-leveraged trades to close off trades allowing more funds. if required! Phemex features negative balance protection which automatically closes open trades in case over-leverage occurs by closing and liquidates trades should happen, closing trades to liquidates the opposite way out should happen and closes and liquidates your opened trades to closes them if necessary to prevents open if massive drawdown.
Huobi
Huobi is one of the oldest and most-utilized cryptocurrency exchanges on the market, providing traders with many features and benefits that make it a standout choice for trading. These include an intuitive mobile app as well as a straightforward registration process that requires simply downloading it with valid email address and password to get trading. Once registered, traders can start trading directly.
The platform also offers several security measures, such as two-factor authentication and SMS notifications. Furthermore, they adhere to a stringent Know Your Customer (KYC) procedure that requires traders to upload an ID document of government issue in order to be verified as identity traders. Furthermore, there is a security reserve of 20,000 BTC to safeguard against extreme hacking incidents.
Huobi offers low fees and offers multiple trading pairs, in addition to supporting a vast number of cryptocurrencies and offering exceptional customer support via email, live chat, phone call, or refund requests if users are dissatisfied with their service experience.
BYDFi
BYDFi is an extremely safe and reputable cryptocurrency derivatives exchange that hasn’t reported any security incidents since launching in 2020. Employing strict trading standards across four different countries to protect user accounts – these include dual authentication using Google Authenticator with additional pin verification for withdrawals, whitelisting IP addresses and accounts, whitelisting of IP addresses/accounts as well as high level account segregation to keep your sensitive information from falling into hackers’ hands.
Furthermore, this exchange offers low minimum deposit and withdrawal amounts to encourage investors to start trading, as well as offering newcomers plenty of handholding – for instance when they complete their Know Your Customer process and place their first trade on the platform they may receive “mystery box” rewards consisting of various crypto tokens.
Spot trading fees for makers and takers of spot tokens is 0.1% while leveraged tokens incur transaction fees of 0.2%, but unfortunately this exchange does not support staking which can be an important source of passive income. While not necessary for every trading platform, staking can provide valuable sources of passive income for traders.
Kraken
Kraken is one of the premier cryptocurrency exchanges, providing spot, margin and futures trading across an extensive variety of crypto assets. Furthermore, it boasts a mobile app as well as 24-hour customer support – although wait times may increase during high traffic periods.
Kraken offers an intuitive user experience and offers an outstanding overview of cryptocurrency prices across numerous tokens. Additionally, users can set watchlists and alerts, create watchlists of interest, set watchlist alerts for individual coins as well as set watchlist watchlist alerts. In addition, its mobile app runs seamlessly on most phones while offering referral programs which reward existing customers who refer new customers to Kraken.
Kraken offers an expansive range of funding options. This exchange accepts cash, credit and debit cards, online banking, ACH transfers and instant purchases. Kraken’s fees for buying cryptocurrency vary depending on whether an order is maker-taker-related; instant purchases may incur additional charges so it is wise to read its fee structure thoroughly prior to trading on it. Furthermore, two-factor authentication must also be provided as security measure when signing in or withdrawing funds from accounts on Kraken.
eToro
eToro is an online broker that allows its users to trade a range of financial assets including cryptocurrencies. Its primary attraction is its ‘CopyTrader’ feature which allows traders to copy other traders. There is also a list of top performers available through eToro’s ranking feature as well as pre-made portfolios known as Smart Portfolios for easier trading strategies.
To trade on eToro, users need to deposit fiat currency (usually U.S dollars) into their account. Once this step has been taken, users can begin investing and trading through either mobile phones or web browsers on eToro’s platform.
eToro services can be found across most countries, though it does have certain restrictions in certain nations due to local law restrictions. On its website, eToro outlines its KYC process which requires customers to present identification and proof of address as part of its KYC procedure; this helps ensure your money won’t be used illegally by eToro.