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How to Buy Cryptocurrency in the UK – Complete Beginner’s Guide

If you want to buy cryptocurrency but don't know how to go about it, you've come to the right place. In this guide we list the best platforms to buy crypto, and how to make your purchase step-by-step.
Buy Cryptocurrency
Buy Cryptocurrency

Cryptocurrencies have come a long way – reaching a total market cap of $3 trillion in 2021 – and the nascent industry is in a bull market.

Despite a correction in early 2022, many crypto analysts are still bullish heading towards the next Bitcoin halving in early 2024. Both retail and institutional investors are paying close attention to the virtual assets category as blockchain tech continues to grow in mainstream use.

Wondering how to buy cryptocurrency in the UK? In this how-to guide we’ll review a regulated crypto exchange and the best app to buy cryptocurrency.

Contents [show]

    Where to Buy Cryptocurrency In The UK

    1. eToro – regulated in the UK by the FCA
    2. Evonax
    3. Huobi
    4. Crypto.com
    5. Uphold

    Best UK Crypto Exchanges in July 2022

    £
    =
    Bitcoin Cash
    Bitcoin Cash
    Bitcoin CashBitcoin Cash
    CardanoCardano
    DashDash
    EthereumEthereum
    Ethereum ClassicEthereum Classic
    IOTAIOTA
    LitecoinLitecoin
    StellarStellar
    XRPXRP
    Binance CoinBinance Coin
    EOSEOS
    NEONEO
    TezosTezos
    TRONTRON
    ZCashZCash
    ElrondElrond
    ChainlinkChainlink
    Uniswap Protocol TokenUniswap Protocol Token
    DogecoinDogecoin
    yearn.financeyearn.finance
    DecentralandDecentraland
    AlgorandAlgorand
    Basic Attention TokenBasic Attention Token
    PolygonPolygon
    Shiba InuShiba Inu
    Enjin CoinEnjin Coin
    MakerMaker
    TetherTether
    CompoundCompound
    BitcoinBitcoin
    PolkadotPolkadot
    SolanaSolana
    FTX TokenFTX Token
    TerraTerra
    0x0x
    AaveAave
    AragonAragon
    AugurAugur
    AvalancheAvalanche
    BalancerBalancer
    Bancor Network TokenBancor Network Token
    Band ProtocolBand Protocol
    Bitcoin DiamondBitcoin Diamond
    Bitcoin GoldBitcoin Gold
    Bitcoin SVBitcoin SV
    BitsharesBitshares
    BitTorrentBitTorrent
    BlockstackBlockstack
    CeloCelo
    Celsius NetworkCelsius Network
    ChilizChiliz
    CosmosCosmos
    Curve DAO TokenCurve DAO Token
    CyberVeinCyberVein
    DaiDai
    DecredDecred
    DFI.moneyDFI.money
    ElectroneumElectroneum
    Energy Web TokenEnergy Web Token
    FantomFantom
    GnosisGnosis
    Golem Network TokenGolem Network Token
    Hedera HashgraphHedera Hashgraph
    HedgeTradeHedgeTrade
    HeliumHelium
    HiveHive
    HoloHolo
    Huobi TokenHuobi Token
    ICON ProjectICON Project
    IOS tokenIOS token
    KavaKava
    RIF TokenRIF Token
    SafeMoonSafeMoon
    SerumSerum
    SiacoinSiacoin
    SolaSola
    StacksStacks
    Status Network TokenStatus Network Token
    SteemSteem
    StorjStorj
    StoxStox
    StratisStratis
    SushiSushi
    SwipeSwipe
    SynthetixSynthetix
    The GraphThe Graph
    ThetaTheta
    ThorchainThorchain
    TomoChainTomoChain
    UMAUMA
    UniBrightUniBright
    USD CoinUSD Coin
    UtrustUtrust
    VeChainVeChain
    VergeVerge
    WavesWaves
    Wrapped BitcoinWrapped Bitcoin
    xDai ChainxDai Chain
    ZBZB
    ZilliqaZilliqa
    KomodoKomodo
    KusamaKusama
    Kyber NetworkKyber Network
    LiskLisk
    LoopringLoopring
    Machine Xchange CoinMachine Xchange Coin
    Matic NetworkMatic Network
    MonaCoinMonaCoin
    MoneroMonero
    Ocean ProtocolOcean Protocol
    OMG NetworkOMG Network
    OntologyOntology
    Orchid ProtocolOrchid Protocol
    PAX GoldPAX Gold
    Paxos StandardPaxos Standard
    PlusCoinPlusCoin
    QTUMQTUM
    QuantQuant
    RavencoinRavencoin
    RENREN
    Reserve RightsReserve Rights
    RevainRevain
    Multi Collateral DaiMulti Collateral Dai
    NanoNano
    NEMNEM
    Nervos NetworkNervos Network
    1inch1inch
    Axie Infinity ShardsAxie Infinity Shards
    Hoge FinanceHoge Finance
    Alien WorldsAlien Worlds
    Yield Guild GamesYield Guild Games
    The SandboxThe Sandbox
    Ankr NetworkAnkr Network
    Crypto.comCrypto.com
    AmpAmp
    API3API3
    LivepeerLivepeer
    My Neighbor AliceMy Neighbor Alice
    Origin ProtocolOrigin Protocol
    Crypto.com Chain TokenCrypto.com Chain Token
    Hydro ProtocolHydro Protocol
    Oasis LabsOasis Labs
    RaydiumRaydium
    IlluviumIlluvium
    Render TokenRender Token
    GalaGala
    TravalaTravala
    PancakeSwapPancakeSwap
    Ethernity ChainEthernity Chain
    HarmonyHarmony
    CartesiCartesi
    ImpactImpact
    NumeraireNumeraire
    iEx.eciEx.ec
    6 Providers that match your filters
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    Rating
    Rating
    Price
    6 Providers that match your filters
    Payment methods
    Features
    Usability
    Support
    Fees
    0 or better
    Safety
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    0 or better
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    Rating
    for £1000 you get0.0629 BTC
    Features
    Easiest to deposit
    Most regulated
    Copytrade winning investors
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    for £1000 you get0.0629 BTC
    68% of retail CFD accounts lose money.
    Features
    Instant verificationFor beginnersWallet ServiceMobile App
    Payment methods
    GiropayNetellerPaypalSepa TransferSkrillSofort

    Compare UK Crypto Brokers & Exchanges

    broker-logo
    68% of retail CFD accounts lose money.
    broker-logo
    The price and value of any investment in digital asset products can fluctuate.
    broker-logo
    As with any asset, the values of digital currencies may fluctuate significantly.
    broker-logo
    The traded price of digital tokens can fluctuate greatly within a short period of time.
    broker-logo
    The value of digital currencies can go up or down frequently.
    broker-logo
    Market prices for digital tokens can be volatile and highly unpredictable.
    Rating
    5.0
    4.5
    4.4
    4.3
    4.2
    4.1
    Mobile App Rating
    10/10
    9/10
    9/10
    8/10
    9/10
    8/10
    Mobile App
    Wallet
    Number of Coins
    1402253345913
    Trading Fees
    Spreads0.1%0.1%0.1%0.50%0.1%
    Deposit Fees
    N/AN/AN/AN/AN/AN/A
    Withdrawal Fees
    $50.0005 BTCN/AN/AN/AN/A
    Regulated
    ASIC, CySEC, FCAN/AFCAN/AFCAN/A
    Min. Deposit
    $50N/A$10N/A$2$10
    Leveraged Trading
    N/A1 - 100x1 - 100x1 - 100xN/A1 - 10x
    Bitcoin
    £15886.05£15896.37£30761.62£30738.22£30756.78£30752.96
    Ethereum
    £897.09£881.02£2129.82£2127.84£2128.20£2128.38
    XRP
    £0.27N/A£0.59£0.18£0.23N/A
    Tether
    £0.82£0.82N/A£0.76£0.76N/A
    Litecoin
    £42.52N/A£83.06£82.98£82.98N/A
    Bitcoin Cash
    £89.52N/A£224.68£385.38£224.55N/A
    Chainlink
    £5.18N/A£11.18£10.85£11.16N/A
    Cardano
    £0.39N/A£0.63£0.63£0.63N/A
    IOTA
    £0.23£0.22£0.22N/A£0.22£0.53
    Binance Coin
    £184.41£180.13£293.82N/AN/AN/A
    Stellar
    £0.09N/A£0.14£0.14£0.14£0.06
    Bitcoin SV
    £44.76N/AN/A£138.88N/AN/A
    USD Coin
    £0.83N/AN/A£0.76N/AN/A
    EOS
    £0.79£0.77£1.57£1.57£1.56£1.57
    Monero
    £96.63£95.74N/AN/AN/AN/A
    Giropay
    Neteller
    Paypal
    Sepa Transfer
    Skrill
    Sofort

    If you are looking for the best place to buy cryptocurrency in the UK, the list of brokers above have been selected because of what they offer – low fees, a reasonable minimum deposit, regulatory oversight, user-friendliness, and high liquidity.

    They can also be used to buy Ethereum (ETH) which can then be used to buy NFTs (non-fungible tokens), a popular new emerging market alongside cryptocurrencies.

    How to Buy Cryptocurrency UK – Quick Guide

    If you do not have the time to go through the guide and quickly want to know how to buy cryptocurrency in the UK, these quick-fire steps should set you on the right path.

    eToro is our recommended crypto broker, and we will be showing you how to buy any cryptocurrency you want on the social trading platform.

    1. Sign-up on eToro: Navigate to the eToro website and click on ‘Join Now’ to provide your full name, email address, mobile number, username, and password. You can also register with your Facebook or Google account.
    2. Verify ID: You will need to provide some form of identification to verify your account. You can do this by uploading a snapshot of your driver’s license or government-issued ID card and a recent copy of your utility bill or bank statement to show proof of address.
    3. Fund: eToro has a minimum deposit of $50 (about 37.05 GBP), and you can fund your account with your bank account, debit card, PayPal, Skrill, and several others.
    4. Buy Crypto: To buy the cryptocurrency of your choice, type in the digital asset’s ticker symbol and click ‘Trade’ on the applicable result. Insert the amount of the asset you want to buy and click on ‘Open Trade’ to complete the transaction.

    eToro Tutorial – Step by Step

    Investors are flocking into the crypto space and this has largely been due to the phenomenal growth the nascent industry has seen so far. For one, the crypto market has outperformed the wider financial market following a dismal 2020 exacerbated by the global financial meltdown occasioned by the Covid-19 pandemic.

    Cryptocurrencies like Bitcoin and Ethereum have been the crypto flagbearers, and both have seen explosive growth this year with more uptrend anticipated. Given this, you may be searching for the best place to buy cryptocurrency in the UK.

    We recommend using eToro, given its highly intuitive yet simple user interface, super-low fees, and strong regulatory oversight. The platform ticks answer the question of where to buy cryptocurrency UK. In this section, we will give you detailed steps to get started in 5 minutes.

    Step 1: Open an Account with eToro

    Sign up eToro

    The first step will be to sign-up on the eToro website. To do this, click on ‘Join Now’ on the top right-hand corner and provide a few details. This usually entails your full name, mobile number, username, email address, and password. You can also choose to skip this typing process by registering with either your Facebook or Google account.

    Step 2: Verify your Identity

    eToro is regulated by top-tier global bodies, which means you will need to complete the know-your-customer (KYC) process to unlock the full potential of your new account. This process can also be completed online. What is required here is to take a snapshot of your driver’s license or official ID card. Then upload a snapshot of a recent utility bill or financial statement reflecting your proof of address. eToro will set about verifying your account within minutes.

    Step 3: Fund your Account

    Fund-your-eToro-Account-1-1536x890

    The next step is to make a deposit. This can be done easily by clicking on the action tab and tapping the ‘Deposit Fund’ button. Fill in the amount you want to fund your account with (minimum is 37.05 GBP) and select the payment method you want to use. eToro supports a healthy stock of payment processors and you can make deposits through:

    • Bank wire transfer
    • Debit cards
    • PayPal
    • Skrill
    • Neteller
    • Trusly
    • Sofort

    Step 4: Buy Cryptocurrency

    Buy cryptocurrency

    The final step will be to buy the cryptocurrency you want to invest in. Given that eToro is user-focused, you can easily complete this process by typing into the search bar the ticker symbol of the virtual currency you want to buy.

    For instance, if you’re going to buy Bitcoin on eToro, type ‘BTC’ into the search tool and click on ‘Trade’ to be taken to the order page. Here, you can insert how much BTC you want to buy and click on ‘Open Trade’ to complete the transaction.

    Step 5: Download The eToro Mobile App (Optional)

    eToro-Mobile-App-768x638

    This step is entirely optional and you can choose to sidestep it. However, if you want to keep track of your investment while on the move, we recommend downloading the eToro Mobile App. It comes with the exact functionalities as the web platform and you can also easily store your cryptocurrencies here. It is also complete with the required set of security protocols to ensure that no other person besides yourself have access to your account.

    The eToro Mobile App is available on both Android and iOS devices and you can download it on the applicable mobile app stores.

    Where To Buy Cryptocurrency In The UK

    If you are searching for the best place to buy cryptocurrency in the UK, these mini-reviews should give you an insight into which broker or exchange to use.

    1. eToro – Overall Best Platform to Buy Cryptocurrency UK eToro

    Established in 2007, the social trading platform eToro is the best place to buy cryptocurrency in the UK. Its main office is in Canary Wharf, London.

    The popular crypto trading platform is licensed by the British Financial Conduct Authority (FCA). Alongside this, it is supervised by the Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) and Financial Industry Authority (FINRA).

    etoro homepage

    In the aspect of fees, eToro offers competitive prices and it has no hidden fees. On eToro, you can buy most of the popular digital currencies including Bitcoin (BTC) and Ethereum (ETH).

    You can also make payments on eToro through a variety of payment methods like debit cards. Some of the cards the social trading network supports include Visa, MasterCard, Visa Electron and Maestro.

    Aside from this, you can fund your account through a local/international bank wire transfer, PayPal, Skrill, Neteller, and several others.

    All transactions are communicated using Secure Socket Layer (SSL) technology ensuring that your details and funds are safe. You can start your trading journey with eToro with just a minimum deposit of $50 (about 37.04 GBP).

    eToro is famous for its CopyTrade feature that allows new users to mirror the successful trades of more advanced investors. This feature has proven successful for many as it allows new users to learn how the crypto market works while not risking their capital. eToro offers customers the advantage and experience of trading on a cutting-edge trading platform that allows anyone to trade financial assets online.

    • Social trading: Yes
    • Minimum deposit: 37.04 GBP for UK clients
    • Security: Very secure
    • WebTrader: Yes
    • Demo Account: Yes
    • Customer Base: 20 million registered users worldwide

    Pros

    • Regulated by the FCA and several other top-tier bodies
    • Competitive fees
    • Multiple payment methods
    • Reputable crypto broker
    • Low minimum deposit
    • Fast execution and low latency platform
    • User -friendly
    • CopyTrade functionality

    Cons

    • Withdrawal fee of $5

    Visit eToro

    Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

    2. Huobi – Reputable Place to Buy Crypto

    Huobi Global exchangeLike eToro, Huobi has been operating since the early days of cryptocurrency. A long-established household name in crypto, it was founded in 2013.

    In that time Huobi, also known as Huobi Global, has never been hacked or had any issues with user data or funds being compromised in any way. When Bitmart exchange was hacked the Huobi and Shiba Inu communities teamed up to offer their assistance.

    Huobi Crypto Exchange

    Huobi offers both spot and margin trading – meaning as well as buying crypto you can also take a long position or short crypto on the platform, using leverage. It offers up to 200x leverage on some assets, more than most crypto exchanges.

    One unique feature of Huobi is it offers the free use of a crypto trading bot that uses a ‘grid trading’ system. Currently it has a backtested 7-day annual yield of 44% – that ROI performance data is updated weekly.

    It also offers high-yield crypto staking of up to 50% APY on several assets, crypto loans and a welcome bonus.

    Pros

    • A decade of operation without being hacked
    • Crypto staking
    • Grid trading bot
    • Both spot and margin trading

    Cons

    • No social trading / copytrading unlike eToro
    • 0.2% maker / taker fee is higher than Binance and Coinbase Pro

    Visit Huobi

    Your capital is at risk.

    3. Crypto.com – Crypto Debit Card & App

    Crypto.com ExchangeCrypto.com is a both a crypto exchange and mobile app with a crypto debit card, founded in 2016 and featuring celebrities such as Matt Damon in its TV advertising. It also signed a sponsorship deal with F1 racing (Formula one), the UFC and various sports teams.

    Currently US traders can use the app and the VISA debit card, but not the exchange platform, although that may change in the future. The Crypto.com exchange offers both spot, margin trading and derivatives.

    Crypto.com Exchange

    Crypto.com’s metal prepaid card pays up to 8% crypto cashback on purchases, and on the platform you can earn up to 14.5% interest on crypto holdings, the highest interest rates being for stablecoins like USDC. You can also farm and stake DeFi protocols, and like Huobi apply for a crypto loan.

    Crypto.com supports 250+ cryptocurrencies and has over 10 million users. It also has its own NFT marketplace where you can create, showcase, sell and buy non-fungible tokens.

    Pros

    • Earn up to 14.5% per annum interest on crypto
    • NFT marketplace
    • DeFi staking
    • Crypto debit card and wallet

    Cons

    • USA investors partially restricted
    • High spreads

    Visit Crypto.com

    Your capital is at risk.

    4. Evonax – Best Crypto Exchange For Trader Anonymity evonax logo_600x123

    Evonax was founded in 2016 and is one of the best crypto exchanges in the UK. One of the main selling points of Evonax is its trading fees.

    You do not have to worry about fees because Evonax charges zero fees. It enjoys the trust and patronage of customers in more than 100 countries worldwide.

    The crypto exchange platform is user-friendly and comes with top-notch security. They do not require users to provide any Know Your Customer (KYC) information and only require this when contacting customer support.

    evonax-exchange-cryptocurrency

    The exchange focuses on four crucial areas namely speed, ease, anonymity, and security. The highly secure platform supported cryptos include Bitcoin, Ethereum, Chainlink, Dogecoin, Litecoin, and 11 others.

    • Minimum deposit: Nil
    • Security: Very secure
    • Demo Account: Nil
    • Customer Base: Unknown
    • Regulation: Nil

    Pros

    • User-friendly interface
    • Over 15 different cryptocurrencies
    • Anonymous exchange services
    • Highly secure
    • User-friendly

    Cons

    • Delayed response from support

    Visit Evonax

    Your capital is at risk.

    5. Coinbase – Top Crypto Exchange For Multiple Altcoin Offerings Coinbase

    Coinbase operates as a one-stop crypto platform. The Bitcoin exchange, which was established in 2012, operates a crypto wallet and an exchange.

    Coinbase also offers legacy-based services. It has approximately 73 million verified users and it is operational in over 100 countries. You can choose to make deposits with your UK account or SWIFT account, but it does not currently support PayPal.

    coinbase home

    Coinbase is also secure. The bulk of cryptos on the platform are stored in offline storage and have two-factor authentication (2FA) enabled for extra security. The platform is also insured. They may charge fees when you buy, sell, or convert cryptocurrencies.

    Coinbase supports several altcoins with over 100 currently traded on the easy-to-use platform. It is regulated as a money services business by the Financial Crimes Enforcement Network (FinCEN).

    • Minimum deposit: 37.04 GBP
    • Security: Secure
    • Demo Account: No
    • Customer Base: 73 million
    • Analytical tools: Yes
    • Regulation: FinCEN

    Pros

    • Easy to use for beginners
    • Opportunities to earn cryptocurrency
    • Lower fees for Pro users

    Cons

    • High transaction fees
    • Reported cases of account hacks

    Visit Coinbase

    Your capital is at risk.

    6. Binance – World’s Leading Bitcoin Exchange Binance

    Binance is a crypto company that was founded in 2017. In just four years of service delivery, it has grown in leaps and bounds to become the foremost crypto exchange platform by trading volume with a daily minimum just north of $40 billion.

    There are no fees charged for deposits on Binance but every trade carried attracts a standard service fee of 0.1%, while those who make use of BNB get a whopping 25% off.

    Binance-homepage-XRP-trading-1536x886

    The exchange has a healthy customer base of about 101 million users as ofthe  third quarter (Q3) 2020. A series of initiatives to ensure their operations comply with as many applicable regulatory requirements as possible have been launched by the crypto exchange.

    Their international compliance team has grown by 500%, as part of our ongoing efforts to offer fully compliant and licensed services in all regions where they operate.

    Binance offers one of the largest libraries of digital assets with over 350 virtual assets currently changing hands on the platform.

    • Minimum trade: 7.44 GBP
    • Security: Very Secure
    • WebTrader: No
    • Demo Account: No
    • Customer Base: 101 million
    • Analytical tools: Yes

    Pros

    • Most liquid crypto exchange
    • Supports over 300 altcoins
    • Has low trading fees of 0.10%
    • Low minimum deposit of 7.44 GBP
    • Large customer base

    Cons

    • Not ideal for beginners
    • No tier-1 regulatory license

    Visit Binance

    Your capital is at risk.

    Volatility Of Crypto Assets

    The volatility of cryptocurrencies has been a major concern for many mainstream investors. Blockchain-based assets are especially weak in this aspect as they post several price actions within a particular trading window making them a high-risk investment.

    However, the nascent industry has always rebounded time after time making it easy for investorsto recoup their losses easilys. Premier digital asset Bitcoin has been a notable volatile asset that has posted several record highs after seeing a large price drop.

    To mitigate or combat the risk that comes with the volatility of crypto assets, retail investors are always advised to operate a diversified investment portfolio within an asset class.

    This can be done by investing in a basket of crypto stocks or choosing crypto assets that have a large market capitalization.

    Factors like positive or negative news can influence the volatility of an asset. While positive news has the tendency to push up the price of an asset, negative news will make the price of the asset fall.

    Storing Cryptocurrencies – Best Crypto Wallets

    Much like any asset, cryptocurrencies need to be stored. However, they don’t need a physical location as these assets are basically lines of computer codes. To store your crypto funds, you will need dedicated software wallets – also see our best UK Bitcoin wallets guide.

    While there are several platforms that offer to store cryptocurrencies, there are only a few trusted crypto wallets. One of such is eToro Mobile Wallet which is available on both Android and iOS devices.

    eToro Mobile Wallet

    A crypto wallet is a piece of hardware or software that interacts with blockchains and allows users to store or trade cryptocurrencies of different types such as Bitcoin and Ethereum.

    While there are several crypto wallets in the crypto space, eToro wallet remains one of the best. The digital asset wallet supports over 120 cryptocurrencies and contains an in-app feature that offers conversion functionality that supports over 500 crypto pairs.

    eToro Wallet

    It also provides high security powered by an on-chain private key service that basically ensures that you do not lose your backup phrase. It is also regulated by the Guernsey Financial Sector Commission (GFSC).

    The wallet is provided by eToroX Limited, a limited liability company incorporated in Gibraltar. eToro wallet charges a conversion fee of 1% and the minimum transaction stands at $125.

    Choosing The Right Cryptocurrency Broker

    Of the various requirements the crypto space demands, a cryptocurrency broker is at the top of the list. A cryptocurrency broker is a firm that acts as a middleman between the crypto markets and a trader. They help to facilitate the buying and selling of crypto assets on the market.

    Crypto brokers offer a wide range of services which include a suitable trading environment for new and more advanced traders alike. While it may be tempting to randomly pick a crypto broker, we recommend using this set of factors to filter out the best FCA Brokers in the UK.

    1. Fees

    When choosing a cryptocurrency broker, you need to consider the fees and other hidden charges required for each transaction. Depending on the value of the cryptocurrency being traded, the percentage of the fees that are applicable could, to a large extent, determine your potential profit on a particular crypto trade.

    Crypto broker platforms such as eToro offer minimal fee rates when processing transactions. The platform offers a low 0.5% deposit fee, requires no maintenance fees and withdrawal fees are a measly £4.

    2. Payment methods

    You can’t talk about the best way to buy cryptocurrency UK without touching on the payment methods offered. The best cryptocurrency exchange list a variety of everyday payment solutions to enable easy and affordable ways to fund their account. Some of the best crypto brokers offer payment options like bank wire transfer, debit cards, PayPal, and other e-wallet solutions.

    Our recommended crypto broker offers a wide variety of payment methods to aid international users to make payments and conduct transactions, seamlessly. eToro Payment methods include debit cards, Neteller, Skrill, PayPal, iDeal, Bank transfer, Klarna/Sofort Banking and Rapid Transfer.

    3. Crypto Offerings

    The number of cryptocurrencies and fiat currency pairings a crypto broker supports establishes just how competent and inclusive the broker is. A wide range of cryptocurrencies listed on the platform provides the users with opportunities to trade different cryptocurrencies and maximizes their chances of making profits.

    4. Security and UK Regulation

    Brokers with regulatory bodies such as the Financial Crimes Enforcement Network (FinCEN), Financial Industry Regulatory Authority (FINRA) and the Financial Conduct Authority (FCA) in the UK are choice options when choosing a cryptocurrency broker.

    The licenses from these regulatory bodies act as proof of the optimal security measures that have been put in place to protect the users from financial fraud and other related practices. Some of the best cryptocurrency brokers also offer insurance for users to ensure the security of their assets should the platform suffer a security breach.

    UK FCA

    eToro is a worthy pick when considering security and regulations as it is regulated by FCA which is a tier-1 regulatory body and by FINRA. It also has licenses from CySEC and ASIC. The social trading platform has never suffered a security breach compared to other brokers such as Binance, which suffered a security breach in 2018.

    5. Minimum Deposit

    Brokers who offer a low minimum deposit amount are usually considered as one of the best as they empower retail investors with little capital to trade the markets. An example of such brokers that offer a low minimum deposit of about £7 is eToro.

    6. Social Trading

    Social trading is a form of investing by observing and implementing the trading behaviours of user peers and expert traders. This feature enables new traders on the market to imitate and learn intuitively with the trading patterns of expert traders. This is an assurance of maximized output with minimal risks as most new traders are prone to losing assets during the course of learning the ropes.

    eToro is a renowned social trading platform and offers one of the best CopyTrade functionality in the industry. Through this functionality, new users are able to mirror experts’ successful trades thereby cutting down on their risks while swelling their investment portfolio alongside.

    7. Support

    Users need brokers that can offer full time support to technical and educational problems when using the platforms. The presence of a good support channel on the broker platform builds trust between the broker and the users as disputes can easily be resolved in a short period of time.
    eToro offers 24/7 support to its users which makes it one of the best broker platforms available today.

    8. Usability

    An easily accessible broker platform is a factor that should not be compromised on. Most technical errors and losses incurred by new traders are due to the complex nature of certain broker platforms. A broker with a user-friendly interface that can be intuitively navigated is a good choice when considering a cryptocurrency broker.

    9. Analytical Tools

    Analytical tools are a set of research tools which helps users make more informed decisions about a particular trading pair by providing information on the trends and price action of various currencies. These analytical tools help users maximize profits by giving insight into the most likely price projections of a crypto asset, enabling them to gain insight on the asset’s future price. Brokers with this sort of feature are most suitable for advanced level traders.

    Which Cryptocurrency to Buy in 2022

    At the moment of writing this article, there are over 12,500 cryptocurrencies in the market with more coming on board almost on a daily basis. This presents a huge problem especially if you are just starting out and find it difficult to choose which cryptocurrency to buy.

    Best-Cryptocurrency-To-Buy-768x512

    To address this challenge, we have listed some of the top-performing and most popular cryptocurrencies in the crypto market. These three top dogs are taken from the foremost virtual asset, foremost altcoin, and the foremost joke cryptocurrency in the nascent industry.

    1. Bitcoin (BTC)

    Bitcoin price chart 12 Months

    Are you looking to buy Bitcoin? You should. As expected, Bitcoin remains the top cryptocurrency to buy in 2021. Despite posting less explosive growth than the broader altcoin community of digital currencies, Bitcoin has been able to hold its own and currently controls over 43.1% of the global decentralized economy. This makes it the foremost crypto asset in the nascent financial space.

    Bitcoin’s stronghold on the market has not been due to a slew of upgrades like other crypto protocols but it has been able to retain its price dominance largely due to its deflatio