Best Coinbase Alternative UK – Top Exchanges to Consider

Coinbase is one of the most well-known cryptocurrency exchanges, having gone public in 2021 and even sponsoring the Super Bowl in 2022.

Along with its ease of use, its large public image makes it a popular platform for investors taking their first steps into the world of cryptocurrency.

But, it’s not the only platform out there. And some of the other platforms listed below may actually be better suited to your needs.

Although we agree Coinbase is one of the most reputable cryptocurrency exchanges available, read on to find out what we think is the best Coinbase alternative UK.

1. eToro – Overall Best Coinbase Alternative UK

eToro, best coinbase alternative UK.

eToro is our favourite alternative to Coinbase due to its sublime performance across the board.

Its uncomplicated, intuitive user interface makes it an excellent choice for first-time investors. While its diverse selection of coins and trading tools make it suited to more experienced traders too.

eToro offers no-fee trading and has exceptionally competitive spreads (under 1% on Bitcoin). Its main advantage over Coinbase is hands down its CopyTrader feature.

The feature allows complete beginners to emulate the trades of professionals, which is a great way of learning. It also allows for passive trading, if you are busy and don’t want to be fully involved.

Pros

  • Currently 63 cryptocurrencies are available
  • Fee-free trading
  • $10 minimum deposit
  • CopyTrader for passive investing
  • The simple interface is perfect for beginners
  • Lots of different payment methods
  • Trade stocks, shares, ETFs, forex and more as well as crypto

Cons

  • Not as many altcoins available as Coinbase

2. Binance – Best Coinbase Alternative for Experienced Traders

Binance, the best Coinbase alternative UK for experienced traders.

Payment Method: MasterCard, Visa, Bank Transfer, P2P

Binance is also a solid alternative to Coinbase, as they offer some of the lowest fees on the market and are great for arbitrage trading.

With Binance you can also register and withdraw up to 2 BTC/day worth of coins. It is also the largest exchange by trading volume and liquidity.

Features

  • You can sign up and create an account for free, with no deposit fees.
  • Binance has a huge selection of coins available to trade with (most of which are not on Coinbase).
  • They have a built-in Arbitrage tool that allows you to take advantage of the price differences across multiple exchanges, which is great if you’re looking to diversify your portfolio!
  • Fees – Trading: 0.1%; Withdrawal: Free; Deposit: Free

Pros

  • Low trading fees – Binance charges a flat 0.1% fee on all trades, regardless of how much you trade! This is significantly lower than many other popular exchanges, like GDAX and Kraken (both charge ~0.25%).
  • It offers a huge selection of coins – One thing that makes Binance a standout exchange is its huge selection of coins available to trade with.

Cons

  • They have a very loose KYC Policy.
  • They were once hacked in 2019 with over 7,000 BTC stolen, but it has never happened again since then.

3. CEX.io

Payment Methods: Paypal, Bank Wire, Credit/Debit Cards

This London-based exchange supports users with many payment methods, including PayPal and credit cards.

Note that you’ll need to verify your account using a government ID before you can start trading. It is also worth noting that CEX charges withdrawal fees depending on what type of cryptocurrency you want to move from your wallet.

Features

  • Extremely easy-to-use interface.
  • Withdrawal fees vary depending on what type of cryptocurrency you want to move from your wallet.
  • Easy verification process, which does not require submitting any documents (Just a scanned ID and some details about yourself).
  • Support is available 24 hours a day, 7 days a week via Phone call or Live Chat.

Pros

  • Fees are competitive.
  • A lot of payment methods are supported, including Credit Cards and PayPal which are great if you don’t have a bank account and want to buy cryptocurrency with fiat money.
  • 24/7 support via live chat and phone call.

Cons

  • KYC verification is a must.
  • There are fewer Crypto options.

4. 7b

Payment methods: cryptocurrency, especially Bitcoin and Ethereum

Launched very recently, 7b boasts of a hassle-free interface that allows users to buy, sell, send and store cryptocurrency.

The digital asset exchange has a simple but effective UI with helpful features like guides on how to invest, a strong customer support service, and user-friendly tools such as instant transfers.

Features

  • Easy-to-use Interface.
  • Strong security system.
  • Supports many coins.
  • 24/7 customer support;

Pros

  • A great team supporting the project.
  • Easy to use and Beginner-friendly.
  • Lightning-fast.
  • Lower fees.

Cons

  • Fiat deposits are not yet available.
  • They recently launched.
  • Transaction Fees vary based on the Crypto.

5. PayBis

Payment Method: Skrill, Neteller, SEPA Bank Transfer, Cryptocurrency

If you’re looking to buy and trade Bitcoin and other digital currencies, Paybis should be one of your first options.

The site has a user-friendly interface that offers more than 200 cryptocurrencies that can be traded directly with either traditional currency or popular altcoins like Litecoin, Dogecoin, and Ripple. Moreover, signing up is free of charge.

Features

  • PayBis does not impose limits on deposits and withdrawals from a verified Paybis account (unlike most other services). You can withdraw your Bitcoin at any time, so there is no need to maintain a minimum balance.
  • Fees start at 0% – pay nothing to trade between altcoins and Bitcoin, or as little as 0.5% when exchanging money into Bitcoin (EUR) and back into EUR again!

Pros

  • Paybis has low fees, meaning more money can be invested and saved over time. They charge a standard rate of 0% on all transactions – no exceptions! Paybis also offers flat rates of just 0.5% when moving between Bitcoin and your local currency (EUR, USD, RUB).
  • The exchange offers a simple interface that allows users to check real-time market prices in their fiat currencies as well as at least 200 cryptocurrencies that are paired with Bitcoin, Ethereum, or USD.
  • It is regulated by the FCA of the United Kingdom.

Cons

  • The transaction fees are high for credit/debit card purchases.

6. LocalBitcoins

Payment Methods: PayPal, Bank Deposits, Payoneer

As a person-to-person (P2P) Bitcoin exchange, LocalBitcoins matches buyers and sellers online. The site also has a chat box where users can get answers to technical questions about transactions.

Like most P2P exchanges, LocalBitcoins charges a small transaction fee for all purchases. As one of the oldest cryptocurrency exchanges around, LocalBitcoins has many positive customer reviews.

Features

  • Security – The site has an escrow feature that holds coins in a secure third-party wallet until buyers receive their goods. Escrow protects both buyers and sellers, and transactions can be tracked using blockchain technology to ensure fast and safe deals through LocalBitcoins’s exchange service.
  • Privacy – With LocalBitcoins, buyers and sellers can remain anonymous. The site does not require any personal information about the users, except an email address for receiving the verification of transactions made on LocalBitcoins’s exchange service and a phone number to verify users’ identities through SMS messaging after two or more failed log-in attempts.

Pros

  • Community – LocalBitcoins has a huge and active user base that’s growing all over the world. The LocalBitcoins forum provides great advice from experienced bitcoin users, including where to find traders near you who are willing to make fast cash transactions and how to avoid scams when trading bitcoin locally with another person or business. The site is also loaded with helpful articles about how bitcoins work and why they can be a useful investment.
  • Verification – LocalBitcoins’s verification process is very thorough, requiring phone numbers, names, and postal addresses before users can start buying or selling bitcoins online through LocalBitcoins’s exchange service. That being said, only serious buyers and sellers are using LocalBitcoins to trade bitcoin, making it one of the few exchanges around with an active user base (not just bots).

Cons

  • Fees – LocalBitcoins charge higher fees than most of its competitors, with a base transaction fee of 0.15 percent (one-fifteenth of one percent) plus 0.0005 BTC per deal completed through its exchange service. For large transactions, however, users can get a discount on their rates.

7. CoinMama

Payment Method: Apple pay, SEPA Bank Transfer, Credit/Debit card

CoinMama is a Bitcoin broker that enables purchasing bitcoins with credit or debit cards. Fees are about 10%, with limits of about $5,000 per day and $20,000 per month.

This was one of the first Bitcoin exchanges to appear on the market after a short period in 2013. Although it’s based out of Israel, CoinMama can serve clients from all over Europe and US (and Australia). It supports English, French, Italian, German and Spanish.

Features

  • Simple registration and buying process.
  • Quick bitcoins delivery (within one hour).
  • Anonymous buying.
  • Credit and debit cards are accepted.
  • Low Fees (6% on average).
  • Supports EUR, USD, and GBP/CAD currencies.

Pros

  • Offers a wide range of payment methods.
  • Super fast delivery.
  • Very simple to use, and buy.
  • Reasonable fees.

Cons

  • The user interface is confusing.
  • Phone support could be better.
  • The site is a bit slow.

8. Gemini

Payment Methods: Bank Transfers and Debit Cards

As one of only a few cryptocurrency exchanges to be granted a banking license, Gemini is a US-based exchange with high regulatory standards.

Founded by the brothers Cameron and Tyler Winklevoss, Gemini is based in New York and supports BTC/USD and ETH/USD trading pairs. While only being available in a few states so far, it’s worth checking out for its simple interface.

Features

  • Bank-level security, use 128-bit SSL encryption and store 98% of their customers’ digital currency offline to keep them safe from hackers.
  • High liquidity — their bitcoin to USD trading pair is one of their most popular markets, with an average of $100 million traded per day! (and they were one of the first exchanges to support Litecoin.)

Pros

  • Low fees — they have much lower fees than other exchanges, with a maker-taker fee schedule of 0% to 0.25%, depending on your 30-day trading volume.
  • Good customer support — their support team is available 24/7 via email, live chat, and Twitter.

Cons

  • Limited countries supported.

9. Kraken

Payment Methods: Wire Transfers and a few supported cryptocurrencies

Founded in 2013, Kraken is one of the world’s largest crypto exchanges. It supports deposits from American, European, Canadian, British, and Japanese customers.

Deposits can be made via bank wire, SEPA transfer, electronic bank transfer currency wire, and bank deposit (Japan only). Kraken also provides leveraged bitcoin/ether trading with up to 5x leverage.

Additionally, it offers secure cold storage and a developer platform.

Features

  • High liquidity – No trading fees.
  • Security and compliance – Insured cold storage and fund insurance.
  • Personal account representative (instant live chat).
  • Dark pool trading facility.

Pros

  • Instant deposits & withdrawals via SWIFT.
  • Cryptocurrency/ Fiat trading pairs (Bitcoin, USD, EUR, GBP, Yen).
  • Low fees –a 0-0.26% fee depending on the volume and the country of origin.
  • High-security standards.
  • Mobile app supported.

Cons

  • Limited payment methods.

Choosing the Best Coinbase Alternative UK

A good exchange should have low transaction fees, a user-friendly interface and solid security features.

You’ll also want to make sure you choose an exchange that has a lot of trading volume if you’re planning on doing active trading; lower volume platforms can sometimes be difficult to place orders on. 

When looking for the best Coinbase alternatives, take the time to research which exchanges suit your personal needs the most and examine certain characteristics.

One of the most important factors is whether the exchange is regulated by the Financial Conduct Authority (FCA). This will give you some peace of mind that your money is in good hands.

Another thing to consider is the fees associated with each exchange. Some crypto exchanges charge higher fees than others, so it’s worth shopping around to find one that suits your budget.

You’ll also want to think about the payment methods available on each exchange. Some crypto exchanges only allow bank transfers, while others also accept credit and debit cards. Choose an exchange that offers a payment method that’s convenient for you.

Finally, make sure to check what cryptocurrencies are supported as well as any other unique features the platform may have.

Conclusion

Coinbase is often one of the first platforms newcomers to crypto use that does a decent job of satisfying most needs for beginner crypto investors.

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

We found that our overall favourite Coinbase alternative is eToro.

Team

Our UK-based team writes articles to help beginners understand the world of cryptocurrency. We are firm believers that Blockchain technology has great application in our future.

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