Cryptocurrency trading has seen a surge in popularity in the UK in recent years. As more people become aware of cryptocurrencies and the underlying blockchain technology, more are choosing to buy and trade these digital assets.
In addition, the increased acceptance of cryptocurrencies by merchants and the ease of purchasing and trading them online have also contributed to their growing popularity. As a result, several exchanges and trading platforms have emerged to meet the demand, allowing people in the UK to buy, sell, and trade a wide range of cryptocurrencies.
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Importance while choosing a reliable and trustworthy trading app
Choosing a reliable and trustworthy app for crypto trading in the UK is important for several reasons. Firstly, your money and personal information are at risk if you use an untrustworthy app or exchange. Hackers and scammers may try to steal your funds or personal information, so it’s important to choose a platform that has a good reputation and a history of security.
Secondly, using a reliable app will also ensure that you have a smooth and seamless trading experience. If an app is prone to glitches or downtime, it can be frustrating and may even result in financial losses. Finally, the best app for crypto trading in the UK will provide accurate pricing information and execute trades quickly, which is essential for successful trading.
Factors to consider when choosing the best crypto app
There are several factors to consider when choosing a cryptocurrency trading app. One important factor is the fees charged by the app or exchange. These fees can vary significantly, so it’s important to compare the fees of different apps to find the most cost-effective option. You should also consider the payment methods accepted by the app, as well as any associated fees.
It’s also important to consider the reputation of the app or exchange, as well as its history of security breaches or other issues. Additionally, you should make sure that the app supports the specific cryptocurrencies that you are interested in trading.
Finally, you should consider the overall user experience of the app, including how easy it is to use and whether it provides useful features such as price alerts and charting tools.
What are the best app for crypto trading in the UK
eToro
eToro is a social trading and investment platform that allows users to buy and sell a variety of financial instruments, including stocks, ETFs, commodities, and cryptocurrencies. The platform is designed to make it easy for users to connect with and copy the trades of other successful traders on the platform.
In addition to its trading and investment services, eToro also offers a range of educational resources and tools to help users learn about financial markets and improve their trading skills. These resources include webinars, market analysis, research, and a range of trading guides and tutorials.
eToro is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) among other financial authorities in various jurisdictions.
Transaction fee
eToro charges a 1% flat fee for buying or selling crypto. eToro charges a low fixed fee of $5 on withdrawals in which the Minimum Withdrawal Amount is $30. Platinum, Platinum +, and Diamond Club members are not subjected to withdrawal fees.
If you hold a position overnight, you may be charged an overnight fee, also known as a rollover or financing fee. This fee is calculated based on the interest rate differential between the currencies involved in the trade, as well as the size and duration of the position. eToro charges a $10 monthly inactivity fee after 12 months with no login activity on any remaining available balance.
Listed Cryptocurrency
eToro is a global trading platform that offers 65 tradable coins for you to buy and sell. Some of the cryptocurrencies that are listed on eToro include Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Stellar (XLM), Cardano (ADA), TRON (TRX), NEO (NEO). Also, the availability of cryptocurrencies on eToro may vary depending on your location in the UK
Rating
Forbes Advisor has given eToro a 3.7 rating. The app has also received a review score of 4.1/5 from 12K Google Play reviews and 4.3/5 from 1.9K App Store reviews.
Crypto.com
Crypto.com is a platform that offers a range of services related to cryptocurrencies, including a cryptocurrency exchange, a wallet for storing and managing digital assets, and a range of payment solutions for merchants.
The platform offers features such as margin trading, spot trading, and futures trading. Crypto.com also offers a wallet that allows users to securely store and manage their digital assets. The wallet is available for both mobile and desktop devices and supports a wide range of cryptocurrencies.
Crypto.com also offers a range of payment solutions for merchants, including a point-of-sale system and a payment gateway for online transactions.
Transaction fee
Crypto.com has 0.04% – 0.4% maker fees and 0.1% – 0.4% taker fees.
It may also vary depending on the specific cryptocurrency being used for the transaction and the current demand for block space on the relevant blockchain network.
It is important to note that Crypto.com is a financial platform that offers a variety of products and services related to cryptocurrencies, including a cryptocurrency exchange, a cryptocurrency wallet, and a cryptocurrency debit card.
The specific transaction fees that apply to your transactions may depend on the specific product or service you are using. The users who have high balances in CRO could get trading fee discounts.
Listed Cryptocurrency
Crypto.com is a financial platform that offers around 250+ trading coins. Some of the cryptocurrencies that are listed on Crypto.com include Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Stellar (XLM), Cardano (ADA), TRON (TRX), Binance Coin (BNB), Monero (XMR), Tezos (XTZ).
Rating
Forbes Advisor has given a 4.4 rating. The app has also received a review score of 4.4/5 from 11K App Store reviews.
Binance
Binance is considered to be the largest crypto exchange in terms of the daily trading volume. The platform offers features such as margin trading, spot trading, and futures trading, and it also provides users with a mobile app for convenient trading on the go.
Binance also offers a range of other products and services, including a wallet for storing and managing digital assets, a range of tools and resources for users to track and analyse market trends, and a platform for launching and investing in initial coin offerings (ICOs).
Binance is known for its high trading volume and low fees, and it has a reputation for being a reliable and secure platform for buying and selling cryptocurrencies.
Transaction fee
Binance charges a trading fee that is typically 0.10% of the trade value, and a 0.50% fee for Instant Buy/Sell transactions made on the platform over the past 30 days.
Binance offers discounts on trading fees to users who hold a certain amount of the exchange’s native token, BNB. Withdrawal fees are charged when you withdraw cryptocurrency from the Binance platform to an external wallet. The withdrawal fee is typically a fixed amount that varies depending on the cryptocurrency being withdrawn.
Listed Cryptocurrency
Binance is a cryptocurrency exchange that offers around 600+ trading coins. Some of the cryptocurrencies that are listed on Binance include Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Stellar (XLM), Cardano (ADA), TRON (TRX), Binance Coin (BNB), Monero (XMR), Tezos (XTZ)
Rating
Forbes Advisor has given Binance a 4.4 rating. The app has also received a review score of 4.4/5 from 12K Google Play reviews and 4.7/5 from 13K App Store reviews.
Coinbase
Coinbase is a cryptocurrency exchange platform available in over 100 countries and serves as a platform for users to trade and manage their digital assets. Coinbase also offers a range of other products and services, including a wallet for storing and managing digital assets.
It also has a paid product of in-depth technical analysis called Coinbase’s Advanced Trade. Coinbase is known for being a user-friendly platform that is suitable for beginners and experienced traders alike. It is also known for being a secure and reliable platform, with a strong track record of protecting users’ assets.
Transaction fee
Coinbase charges a flat 1% transaction fee on cryptocurrency transactions. Coinbase charges a 1.49% fee for selling cryptocurrency and a separate conversion fee for converting one cryptocurrency to another.
The conversion fee is based on the current market rate of the cryptocurrency being converted and is generally between 0.5% and 5%. It charges 1.49% for UK bank transfers and 3.99% for debit cards.
Listed Cryptocurrency
Coinbase offers more than 150 tradable cryptocurrencies. Some of the cryptocurrencies that are listed include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC), Zcash (ZEC), 0x (ZRX), USD Coin (USDC), Basic Attention Token (BAT), Augur (REP), Dai (DAI)
Rating
Forbes Advisor has given Binance a 4.1 rating. The app has also received a review score of 4.1/5 from Google Play reviews and 4.7/5 from App Store reviews.
Gate.io
Gate.io is a cryptocurrency exchange platform that allows users to buy and sell a variety of digital assets, including Bitcoin, Ethereum, and various altcoins. The platform offers features such as margin trading, spot trading, and perpetual futures trading. It also provides users with a mobile app for convenient trading on the go.
In addition to its exchange services, Gate.io also offers a wallet for storing and managing digital assets, as well as a variety of tools and resources for users to track and analyze market trends.
Transaction fee
Gate.io has zero fees on deposits and withdrawals. Other transaction fees on Gate.io vary depending on the asset being traded and the type of trade being made like spot trading, margin trading, etc.
For spot trading, Gate.io typically charges a 0.2% Maker Fee and a 0.2% Taker Fee. For margin trading, Gate.io charges interest on the borrowed funds and a margin fee. The interest rate and margin fee will depend on the specific asset being traded and may change over time.
Listed Cryptocurrency
Gate.io is a global trading platform that offers 1,300+ tradable coins. Some of the cryptocurrencies that are currently listed on the platform include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Dogecoin (DOGE), XRP (XRP), Chainlink (LINK), Litecoin (LTC), Polkadot (DOT), Cardano (ADA).
Rating
Forbes Advisor has given Gate.io a 4.8 rating. The app has also received a review score of 4.4/5 from 41K Google Play reviews and 3.5/5 from 1K App Store reviews.
Conclusion
When choosing the best app for crypto trading in the UK, it is important to consider the fees, reputation, user-friendliness, coin selection, and security features of the app. It is essential to take the time to find the right app for your needs because the crypto market is volatile and can involve significant risks.
The right app can help you effectively navigate the market and make informed decisions. It is worth investing the time to research and compare different options to find the app that is the best fit for you and your trading goals. Additionally, the crypto market is constantly evolving, so it is important to periodically review your chosen app to ensure that it continues to meet your needs.