When we think about investing in cryptocurrency, the first thing that comes to mind is Bitcoin. It is often used interchangeably with the term ‘cryptocurrency’. It has witnessed tremendous growth in its value since it was first introduced turning hundred of people into millionaires. And it continues to do so. The recently instituted rules by the UK banning cryptocurrency derivatives (including CFDs) have made some platforms off limits for British traders – e.g. Capital and Libertex. In order to get started trading Bitcoin, investors now need a Bitcoin exchange that enables short-term trading. And most people have a hard time deciding which platform/exchange to go for. This Bitcoin trading guide is collated with details that guide you in this regard. We have identified the best Bitcoin trading platforms in the UK by reviewing the 5 top Bitcoin trading platforms that still do accept UK based traders. 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Bybit – Best for day trading yourself: Bybit has become increasingly popular for day trading, allowing you to trade as much as 100x leverage on some assets. Binance – Best for variety of Altcoins: With a wide array of Altcoins, it has become a preferred option for experienced traders looking to trade Bitcoin. Kucoin – Best for small market-cap Altcoins: It is a user-friendly exchange offering a huge number of small market-cap coins. Coinbase Pro – Best for trading against USD, GBP, EUR: Its well-built security and advanced trading features make it suitable for trading against various currencies. Best UK Bitcoin Trading Platforms – Full Reviews eToro Our first pick for the best automated Bitcoin trading platform in the UK list is eToro. It has been highly regarded for its automated copy trading features. It is the most suitable platform for beginners. This exchange does not charge any commission upon buying/ selling cryptocurrencies and has 15 immensely popular coins available for trading. After the ban of various trading platforms (offering crypto CFDs) by FCA, eToro remains among the few UK brokers that allow trading Bitcoin. As far as fees are concerned, eToro charges a fixed spread. You pay 0.75% for Bitcoin as a roundtrip spread. What this means is that you pay only when you buy Bitcoin and there is no charge when you sell it. This gives investors a clear idea of the cost of a trade. eToro platform The eToro platform is available both as a website and as a mobile app. It is compatible with iOS as well as Android. You can also benefit by accessing the market research available in the platform that is analyzed by experts. You can decide the worth of a trade by utilizing eToro’s extensive range of drawing tools and technical indicators in addition to the market news feed. Although it does not offer leverage trading for crypto, it has the maximum options for deposit and withdrawal while trading Bitcoin. eToro’s social trading platform gives it an edge among other exchanges. This feature allows you to follow other Bitcoin traders and use their ideas to trade. It offers a market sentiment score for Bitcoin and other cryptos to notify the user whenever there is any change. It has automated copy trading allowing you to observe the trading pattern of professional traders and adopt their moves. Apart from Bitcoins and other Altcoins, it offers forex, stock, commodities, ETF, bond trading, etc, and a wide range of fiat markets. This exchange is regulated by the UK’s Financial Conduct Authority (FCA). It allows users to purchase coins for collateral and use them in crypto loans. eToro offers convenient customer support, which they can avail 24/ 5 via call or email. Pros No commission fee Fixed round trip spreads Social trading network 100+ technical indicators Supports forex, stock, commodities, ETF Regulated by FCA Customer support available 24/ 5 User-friendly interface; convenient for new investors Cons Low withdrawal fees Low inactivity fee Visit eToro Your capital is at risk Bybit Bybit has attracted a lot of investors for its exciting features and platform updates. It offers a crypto derivatives exchange with as much as 100x leverage on some assets. You can also trade quarterly futures contracts, which essentially means that the contracts’ expiry is set on a calendar cycle, linking up to the spot price. This platform does not charge any funding fees from users. Users get a 0.025% maker rebate for limit orders in futures trading. It allows you to set a stop-loss as well as derive profit simultaneously with a limit order. With its in-built Tradingview, you can easily access all Tradingview indicators and take appropriate decisions on your trades. As you gain more experience, you will be able to determine how a trading view will help you trade your stocks. With Bybit, upon choosing to trade with leverage, users do not have to hold the required asset amount and still witness an enhanced exposure to a crypto’s price fluctuation. Upon “leveraging”, you basically borrow from the exchange to increase your bet. As mentioned earlier, Bybit offers up to 100x leverage. Users need to carefully understand this feature. When you leverage your trade (let’s say you go for 100x leverage), then an upward movement in price will lead to huge profits for your crypto trade. However, if the value goes down, then with just a small shift in price, you might lose your entire initial investment. Bybit’s referral program rewards $10 when a referred customer deposits a minimum of 0.02 BTC. Bybit Platform Bybit claims that its matching engine is capable of facilitating up to 100,000 TPS (Transactions Per Second) and that’s great news for investors looking for leveraged trading. In December 2020, this platform made some drastic improvements, enabling 50% faster order placements and operations on 50% less CPU and memory load. Connections to Latin America, Europe, the Middle East, and Africa were made quicker by 500%. The platform is available for desktop as well as for IOS and Android phones. Since users cannot use fiat currencies to deposit in this platform, only those investors who hold crypto assets will be able to trade on Bybit. In this platform, there is a 0.075% taker charge per order for trading contracts and a 0.025% maker rebate, which makes it competitive. For spot trading, it has a taker charge of 0.10% and it is free for makers. Bybit withdrawal charges are 0.0005 BTC per BTC. This exchange saw a 77% increase in user base globally and presently serves 150 countries. Pros Spot and contracts trading Up to 100x leverage Maker rebate for trading contracts Reduced risk of liquidations Cons Withdrawal Fees Unregulated A limited number of trading pairs Visit ByBit Your capital is at risk Binance Binance is among the preferred exchanges for experienced traders. It is considered among the most reliable Bitcoin trading brokers in the UK. It has very competitive pricing for traders looking for liquidity throughout the day. It offers a highly advanced interface both for web and mobile. Binance offers outstanding customizations and you do not have to leave your chart window to spot trade on Bitcoin. Although the charts do not offer many technical indicators, the platform offers seamless integration with TradingView. Binance Platform By using this software, you can engage in limitless analyses by creating your own indicators using a custom scripting language. This platform also enables you to access the Bitcoin order book. Thus, you can easily keep a track of the liquidity and react spontaneously to shifts in incoming buy/ sell orders. Its trading tools include real-time charting tools that come with moving averages/ exponential moving averages. Users can easily use the platform to track their portfolios & history and to view order books & price charts. It offers order types like a stop order, limit order, stop-market order, stop-limit order, etc. The trading views include classic, margin, and OTC views. Some users find the pricing system to be complicated. When compared to Bybit, Binance is a similar platform. However, it does not offer maker rebates in futures trading. Binance is also preferred for offering a huge array of Altcoins for traders. While there is no commission for most trades, the spread for Bitcoin starts at 0.075%. Binance offers a discount if fiat is converted to its custom cryptocurrency, BNB. You also get a discount on creating liquidity in the Bitcoin order book. Although it is not regulated, it is a reliable trading platform. The exchange offers professional as well as retail investor accounts and has a 24*7 chat support system. Pros TradingView Integration More number of Altcoins Access to Bitcoin order book Customizable charting Discount for BNB Discount while adding liquidity 24/7 chat support Cons Complex and variable pricing Not regulated Visit Binance Your capital is at risk KuCoin KuCoin is preferred by investors for offering many small market-cap coins that many other platforms do not offer. The popular coins include Bitcoin, Ethereum, Bitcoin Cash, Litecoin and the lesser-known coins include Lympo and VeChain. It enables users to buy/sell around 200 cryptocurrencies. It is among the newest cryptocurrency exchanges available. This platform was created to offer a sorted and safe platform to traders. With a wide range of digital coins, it has grown significantly as a platform since its inception. This platform can be accessed on a desktop and as an app on Android/ iOS. KuCoin also offers bonuses and discounts to users and has a 0.1% fee per trade. It charges a nominal fee for futures trading. This platform enables you to buy Bitcoin by using its P2P fiat trade, credit/ debit card via Simplex, PayMIR, Banxa, etc. It has a customer support system 24/7 on its website and through email, ticket system, etc. It is a secured platform that has micro-withdrawal wallets, multifactor authentication, industry-level multilayer encryption, and internal risk control departments to maintain the required security standards. KuCoin Platform It enables futures and margin trading and offers up to 100x leverage. It has an outstanding design and is regarded as a robust trading platform. It boasts about offering high liquidity and has an extensive user base across the globe. Since it supports a variety of assets and services, it is opted often by experienced traders. It makes Bitcoin trading seamless for users. This platform has more than 300 different trading pairs. There is no deposit fee in this platform and it charges a blockchain transaction fee to make the transfer depending on specific cryptocurrencies. The same is the case when you want to make withdrawals. Pros A huge number of Altcoins Low trading fees Low withdrawal fees Enables buying crypto with fiat User-friendly exchange 24/7 customer support No forced KYC checks Cons No fiat trading pairs No bank deposits It may be difficult for new investors Visit KuCoin Your capital is at risk Coinbase Pro Coinbase Pro is attached to Coinbase and it is preferred by many traders to trade against fiat currency. Investors can instantly cash out the profits to their bank account by using this platform. Coinbase Pro does not have many technical indicators and it does not have leverage trading. Offering over 130 assets, it charges nominal fees for high-volume trades. It is a convenient platform for advanced order types and has top-notch security features to ensure optimum protection to crypto holdings. It is undoubtedly a preferred option for experienced traders and might be difficult for beginners. Coinbase Pro can be accessed on a desktop or on an iOS/ Android mobile app. Both of these have similar features, delivering the best in both cases. Users benefit from real-time charting tools with moving averages/exponential moving averages. Coinbase Platform They can easily access their trade history, order book, price charts, etc. The order types on this platform include stop order, limit order, and margin order. It charges fees for trading and for certain payment methods. The trading fees are lower than Coinbase but the maker/ taker fees are slightly higher than other platforms. It is equipped with solid security features, cold storage, and FDIC insurance. The security includes biometric fingerprint logins and two-step verification. It has AES-256 encryption for digital wallets. Coinbase Pro supports fewer cryptocurrencies when compared to Binance. Coinbase Pro does not have a rewards program. Owing to the high volume of Coinbase Pro users, users may not be able to access quick support. The complexity of features and options are better suited to seasoned traders. It is a great option for active traders. It has only two indicators and overlays for charts. Pros Offers over 130 assets User-friendly interface Sophisticated security features Ideal for seasoned traders Lower fees for higher volume trading Advanced trading features Cons Does not guarantee instant support Slightly high fees Not for beginners Limited indicators and overlays for charts Visit Coinbase Your capital is at risk How we ranked the Best UK Bitcoin Trading Platforms It is important that we look at various factors while choosing the best UK Bitcoin trading platforms. The right platform will help you gain from your Bitcoin trading by minimizing the potential risks. We considered the following factors to rank the aforementioned platforms: Trading Tools and Features Trading tools and features are very important if you want to earn profits from your Bitcoin trading. The charting platform and the technical indicators indicate the trading prospects. When these charts and tools enable users to engage without much complication, the trading becomes hassle-free. The order book is another important feature of a Bitcoin trading platform. By looking at the current buy/sell orders, you have a fair idea of the crypto price action. This will also help you to identify market sentiment shifts. Other tools like market news feed, price alerts, and professional research by expert analysts are useful while trading Bitcoin. The social trading network offered by eToro is another incredible feature that helps in following and taking ideas from professional traders. Regulation & Safety The exchange that you are using to trade Bitcoin should be regulated and it should be safe. Regulation is necessary so that you do not suffer because of an exchange’s manipulation. When regulations are in place, then the user’s trading experience is not compromised. These also make sure that when you convert fiat currency to digital currency, you are offered the best exchange rate. Regulators like the Financial Conduct Authority are reliable. When an exchange is regulated by the FCA, you can be sure of the safety while trading Bitcoin on that specific platform. Also, note that centralized exchanges offer more safety and smoother user experiences than decentralized ones. Fees & Commissions Another important aspect we considered while choosing the best Bitcoin trading platforms is concerning fees & commissions. If you are paying a huge fee then your Bitcoin trading profits will not sustain. Review how the fees charged by the platform affect your trading. Most exchanges will charge a commission (percentage-based) or spread for buying/ selling Bitcoin, which is either fixed or varies as per the price of the Bitcoin. Sometimes, there are fees upon adding/removing liquidity to the broker’s order book as per your monthly trading volume. It is advised that you do a thorough research about these charges and how they affect your Bitcoin trading. Buy Ethereum68% of retail CFD accounts lose money.Buy EthereumThe price and value of any investment in digital asset products can fluctuate.Buy EthereumAs with any asset, the values of digital currencies may fluctuate significantly.Buy EthereumThe traded price of digital tokens can fluctuate greatly within a short period of time.Buy EthereumThe value of digital currencies can go up or down frequently.Buy EthereumMarket prices for digital tokens can be volatile and highly unpredictable.Rating5.04.54.44.34.24.1Mobile App Rating10/109/109/108/109/108/10FeaturesMobile AppWalletNumber of Coins1402256366215FeesTrading FeesSpreads0.1%0.1%0.1%0.50%0.1%Deposit FeesN/AN/AN/AN/AN/AN/AWithdrawal Fees$50.0005 BTCN/AN/AN/AN/AExtrasRegulatedASIC, CySEC, FCAN/AFCAN/AFCAN/AMin. Deposit$50N/A$10N/A$2$10Leveraged TradingN/A1 - 100x1 - 100x1 - 100xN/A1 - 10xLatest Prices (per Coin)Bitcoin£20152.28£20165.37£30761.62£30738.22£30756.78£30752.96Ethereum£1666.19£1636.35£2129.82£2127.84£2128.20£2128.38XRP£0.32N/A£0.59£0.18£0.23N/ATether£0.82£0.82N/A£0.76£0.76N/ALitecoin£53.71N/A£83.06£82.98£82.98N/ABitcoin Cash£120.93N/A£224.68£385.38£224.55N/AChainlink£7.59N/A£11.18£10.85£11.16N/ACardano£0.47N/A£0.63£0.63£0.63N/AIOTA£0.31£0.30£0.30N/A£0.30£0.53Binance Coin£273.74£267.39£293.82N/AN/AN/AStellar£0.11N/A£0.14£0.14£0.14£0.06Bitcoin SV£52.67N/AN/A£138.88N/AN/AUSD Coin£0.83N/AN/A£0.76N/AN/AEOS£1.13£1.10£1.57£1.57£1.56£1.57Monero£137.63£136.37N/AN/AN/AN/APayment methodsGiropayNetellerPaypalSepa TransferSkrillSofort Deposit Methods When Bitcoin had come into existence, buying crypto was not very easy. However, now the top Bitcoin exchanges in the UK offer hassle-free conversion of GBP to Bitcoin. There are various deposits and withdrawal options that platforms offer. A few may not support fiat currency deposits so you will need to own crypto assets to trade. Otherwise, there are convenient options of deposits offered by the best Bitcoin trading platforms in the UK. These include SEPA, bank transfer, debit/credit cards, Faster Payments, etc. On some platforms, wire transfers are supported with an additional fee. Platforms like eToro support PayPal, Skrill, and Neteller. Variety of Cryptocurrencies The kind of assets that a platform offers is another aspect we have considered while rating the top exchanges. While most platforms in the UK allow trading of Bitcoin (BTC), there are other coins that they do not support. Today, traders look for various options and they want to opt for exchanges that offer popular cryptos like Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), etc. We thus looked for platforms that support these cryptos. There are platforms that have the most talked-about cryptos that traders invest in and there are some which have many coins that are not famous yet. Overall User Experience The overall user experience has made a remarkable imprint on choosing the best trading platforms for Bitcoin in the UK. A user should be able to navigate quickly through various tools and trades without any hassle. The experience of deposits and withdrawals should also be seamless. Many users are compatible with the mobile apps that these platforms offer. It should be handy to use the technical tools and trade Bitcoin with ease. Some platforms also offer a demo account so that you can experience the interface before trading real money. Customer service is another important aspect and the top platforms offer incredible customer service on call and email. How to trade Bitcoin in the UK Given below is a step-by-step procedure to help you get started with eToro: Different features for traders on eToro Step 1: Open a Bitcoin Trading Account eToro is a top-rated platform that is Financial Conduct Authority (FCA) regulated. You can open an account with eToro by providing your necessary personal details. eToro is a 0% commission fee brokerage platform. You need to enter details like Your Name, Date of Birth, National Insurance Number, Address, and Contact Details (mobile and email). Visit eToro by clicking here. Select a username and a password. Enter a unique code sent to your mobile phone to verify user authenticity. For a successful registration with eToro, upload the following documents: Your passport or driving license. Your bank account statement/ utility bill. This is needed to verify your home address. You may proceed without uploading documents if you deposit less than $2,250 (around £1,600). Uploading of documents is required for smooth withdrawals. For your investment, eToro will not charge any commission fee. Step 2: Deposit Trading Funds Upon creating an account successfully with eToro, deposit funds before you can start investing. The minimum deposit is $50. When you use a bank transfer option, the platform will credit your deposits instantly. Other deposit methods include- Debit/ Credit card Paypal Neteller Skrill International bank wire Local bank transfer (country-specific) Step 3: Search for “Bitcoin” or “BTC” A Bitcoin wallet is required to trade cryptocurrencies with eToro Download the eToro Wallet app from Google Play/ Apple App Store As you log in, this wallet will be connected automatically with your eToro account. Type Bitcoin/ BTC in the search box. Make sure that you study the price trends and carefully analyze where it stands currently. Observe the value patterns across days/ weeks/ months/ years. Given the volatile nature of the crypto market, Bitcoin price fluctuates frequently. Your study must be thorough and investing in Bitcoin demands observing the crypto market with consistency. Step 4: Place Bitcoin Trade When the menu appears as you search for Bitcoin, click on “Trade”. Decide the Bitcoin quantity you wish to buy and select it to confirm your order. Enter a take-profit or stop-loss level if you wish Before moving ahead with the purchase, verify that the amount required to make the purchase is available in your wallet to avoid any hassle. When you’re ready, click ‘Open Trade’ to buy Bitcoin. Buy Bitcoin on eToro Your capital is at risk Conclusion Bitcoin traders should select different exchanges for opening several accounts. This way, you will enjoy various features offered by these platforms and have a comprehensive trading experience. For instance, if you have an account with eToro and Coinbase Pro, you can easily buy Bitcoin and sell it back to fiat currency. Having accounts with Binance, Bybit, and KuCoin are more suitable for trading Bitcoin. As they have advanced features and more technical indicators, these are more appropriate for experienced traders. You can engage in leverage trading in these three platforms whereas eToro and Coinbase Pro do not offer leverage trading. Since having several accounts means that your funds are not kept in one place, trading becomes much safer. Being the most regulated platform, eToro is the safest exchange to have Bitcoin funds and trade Bitcoins. The process of trading with eToro is simple. You simply have to make an account and start your trade. With these tips at your disposal, we are sure that you will have a hassle-free Bitcoin trading experience. eToro - Our Recommended UK Bitcoin Platform Our Rating Financial Conduct Authority (FCA) regulated in the UK Buy Bitcoin with Bank transfer, Debit card, Paypal, eWallets Free Demo Account, Social Trading Community - 20 Million Users Free Bitcoin Wallet - Unlosable Private Key Copytrade Winning Bitcoin Traders - 83.7% Average Yearly Profit Buy Bitcoin Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply. FAQs Is Bitcoin trading safe? Bitcoin is known to undergo a lot of fluctuations in terms of price. It comes with similar risks as other cryptocurrencies. The returns depend on how the market fares. Investors who had bought Bitcoin five years back have profited significantly from their investments. Is it better to trade with Bitcoin or Ethereum? Whether you choose Bitcoin or Ethereum depends on the risk appetite. There is no either/or selection. Both cryptocurrencies have bull catalysts as far as the future predictions are concerned given that the world is moving towards a more tech-driven space and the crypto market is booming. How much do you need to trade Bitcoin? To trade Bitcoin, all you need to do is deposit the minimum amount in the trading exchange where you wish to trade Bitcoin. For instance, the minimum deposit on eToro is just $50. Experts suggest setting aside at least 500 GBP for trading Bitcoin if you are seriously expecting to earn from your trades. Some platforms that offer leverage trading will enable you to trade a higher amount using this feature. How do you make money by trading Bitcoin? If you go for day trading, you are in for quick trades and fast profits. Some traders keep a holding for just long enough for the price to increase in order to earn some profits. Another way is to go for Bitcoin arbitrage. It is basically utilizing opportunities across different platforms. For instance, a trader will buy BTC from one platform and sell it at another for a raised price. What is the best trading platform for Bitcoin? eToro is among the safest and best platforms for Bitcoin trading. It is also convenient for new traders. Other reliable exchanges include Coinbase Pro, Binance, Bybit, and KuCoin. Can you make money by day trading Bitcoin? Yes. Day trading is for those who are looking for quick trades. The trade takes place within a day and traders look for an increase in price for smaller gains. Day trading Bitcoin demands careful study of the market and using the prospects for small profits. A seasoned day trader will have a significant cumulative gain eventually. Does Bitcoin trade 24 hours a day? Crypto markets are open round the year, 24/ 7. As the crypto markets do not close, you can trade Bitcoin at any time of the day. When is the best time to trade Bitcoin? The best time to trade Bitcoin is when the market offers a good prospect. The price of Bitcoin fluctuates often. If you have the required knowledge and take experts’ advice seriously on Bitcoin, then you can gain by trading Bitcoin irrespective of the time. The market trends are important for you to make a decision. Also, go for an exchange like eToro that makes the process simple and user-friendly. How to trade Bitcoin without fees? Platforms like eToro do not charge any commission fee on trading Bitcoin. You have a minimum deposit, which is $50 in the case of eToro and you can start trading Bitcoin right away.