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5 Best Bitcoin Brokers in the UK 2024
Bitcoin brokers are a type of online trading platform that provides easy access to the cryptocurrency market. If you want to buy or sell Bitcoin in 2024, choosing a reputable brokerage is essential. In this guide, we will take a look at the 5 best Bitcoin brokers for UK traders in 2024.
We picked the best brokers by reviewing several different options and narrowing them down to the platforms that offer competitive fees, an easy-to-use interface, robust customer support options and effective trading features.
Here Are Our Top Bitcoin Brokers in the UK in 2024
There are plenty of platforms to choose from when it comes to buying Bitcoin, so we’ve listed the top platforms available in the UK below to help you get started right away.
- eToro: The best crypto broker for copy trading and social trading. eToro offers access to crypto coins as well as Bitcoin ETFs and crypto stocks.
- Coinbase: The most user-friendly Bitcoin broker with a minimum trade size of $1. You can access over 200 different cryptocurrencies through Coinbase.
- Kraken: One of the most reliable brokers for UK traders. Kraken provides industry-leading transparent and cold wallet storage.
- Coinjar: The best mobile app to buy and sell Bitcoin.
- OKX: The best Bitcoin broker for experienced traders who want to access advanced trading features.
What to Look for in a UK Bitcoin Broker?
There are numerous factors and features to consider when choosing which broker to use to buy Bitcoin in the UK.
Not only are there core features you want to find in any broker, but also there is a select range of features specific to the UK as a region.
It’s important to remember that different countries and regions will have slightly different regulatory environments and this should factor into your decision.
So here is a list of the key things to look out for when you are choosing a Bitcoin broker in the UK:
Broker fees
Brokers charge fees for buying and selling cryptocurrencies and these should be taken into consideration when comparing different providers.
Common fees that you might come across include trading commissions, account management fees, deposit fees, withdrawal fees, spreads and inactivity fees. If you’re planning on implementing long-term investing strategies, you should pay the most attention to account management fees, inactivity fees and withdrawal fees.
Active traders will be most affected by trading commissions and spreads.
Variety of trading pairs
In order to diversify your strategy, it is important that the broker you choose offers a variety of different assets and trading pairs.
Ideally, look for a platform that provides at least 5 popular cryptocurrencies to choose from with a selection of trading pairs for each.
Ease of use:
To ensure that you are able to make confident decisions, it is important that the broker you choose is easy to use. Look for providers that have a user-friendly interface and the option to manage your trades via mobile app.
The easy a platform is to use, the easier it will be to get started with Bitcoin trading.
Security and regulation:
Arguably one of the most important elements of trading, your broker must be trustworthy and have good security measures in place.
Look out for features like 2-factor authentication, loss insurance, and KYC regulations to improve your level of protection.
Also, as brokers usually have a long history in the financial market you can use this to gauge how respected and trusted a platform is.
It is also a good sign if a broker is regulated by an established financial regulatory body. In the UK, look for platforms that are regulated by the Financial Conduct Authority.
Trading Tools:
The best Bitcoin brokers should offer a variety of trading tools that allow you to implement custom strategies and processes.
Look for live charting tools, technical indicators, market insight, expert analysis, APIs and auto-trading features. If you’re a beginner, you should also look for educational resources and professional guidance.
Geographical restrictions:
It goes without saying that not all brokerages are available to UK traders. Make sure that your chosen brokerage is fully licensed to operate in the UK and is compliant with local regulations.
Customer service:
Choosing a broker with good customer service options will make it easier to receive assistance in the long-run.
The best Bitcoin brokers offer 24/7 customer service via a selection of methods including live chat, phone call and email.
Why Did We Choose the Best Bitcoin Brokers?
In the following section, we will take a closer look at our top picks for Bitcoin brokers in 2024. Keep reading to discover why we selected each provider for our final list.
1. eToro: The best Bitcoin broker for social trading
One of the market leaders in the brokerage space – eToro offers users a social trading network and access to one of the biggest ranges of cryptocurrency CFDs (currently offering over 40).
The brokerage is mostly known for providing market-leading ‘passive’ trading services which include copy trading and smart portfolios. Both of these features allow you to build a diverse crypto portfolio without needing to spend hours conducting complex market analysis.
Key Features
- Low fees for crypto trading
- Easy sign-up process
- Beginner-friendly interface
- Copy trader feature for auto trading
- Regulated by the FCA, CySEC, and ASIC
- Cryptocurrency investments are spread-only
- Great range of deposit and withdrawal methods
- A lack of technical trading tools when compared to some industry competitors
- High non-trading fees
- Weaker customer support than some industry competitors
eToro remains one of the best available brokers for users looking to buy Bitcoin in the UK. eToro has an easy-to-use interface, great regulation, and excellent auto-trading features. The broker also provides access to other markets including stocks, commodities and forex.
2. Coinbase: The most beginner-friendly platform to use
Coinbase is one of our top choice for Bitcoin brokers in the UK because it offers a great user experience and you can place trades from $1. Coinbase has been one of the most influential platforms for trading cryptocurrencies since it started and has accumulated an excellent reputation among users.
We liked Coinbase because it was the most user-friendly platform that we came across. The broker offers a user-friendly dashboard and easy-to-use mobile app that makes the process of buying and selling crypto relatively straightforward.
Although the primary interface is basic, you can use Coinbase Pro to implement complex trading strategies and access more advanced tools.
Top Features
- Minimum trade of just $1
- A good range of educational materials
- Over 200 coins on offer
- Native cryptocurrency wallet that can be used to access a variety of web3 products
- One of the biggest players in the cryptocurrency space
- Earn crypto rewards whilst learning about blockchain technologies
- Suitable for both beginenrs and expert traders
- Higher fees than some industry competitors
- Expensive debit card deposits
Coinbase is one of the best brokers for beginners and experts alike. It has a great reputation and an easy-to-use interface for beginners. The platform also provides a great range of educational content that allows users to learn and earn. What’s more, you can place trades from as little as $1.wn for being one of the largest cryptocurrency exchanges, with a user base of over 200 million users.
3. Kraken: The most transparent Bitcoin broker in 2024
Kraken takes third position on our list because it stands out as one of the most transparent brokers available to UK traders.
The broker offers proof of reserves, deep liquidity, 24/7 customer service and cold wallet storage, amongst a plethora of other security features.
As well as being secure, Kraken is a great option for traders who want to explore small-cap coins. You can currently access over 200 cryptocurrencies (similar to Coinbase) and also take part in staking and lending.
Like all of the brokers that we have reviewed, Kraken offers a user-friendly interface that makes it easy to navigate the platform and confidently place trades.
Top Features
- 24/7 customer support and robust security features
- Kraken Pro advanced charting platform for complex trading strategies
- Trade NFTs and crypto
- Native cryptocurrency hot wallet
- Advanced trading features for the more experienced traders
- A good product selection when compared to industry competitors
- A robust level of security
- High fees when using their instant buy feature
- Withdrawal fees are higher than industry competitors
- A poor range of educational materials
Kraken is one of the better options available for advanced traders that want good security and a platform with high liquidity. It is also a crypto specialized platform so it has a good reputation in the sector.
4. Coinjar: The best mobile app to buy and sell Bitcoin
Coinjar is a crypto trading platform that has great levels of security and an in-built wallet. We like this broker because it is available to use on mobile and you can start trading with just $10.
The app has received over 1000 5-star reviews across Trustpilot and Apple App store and has built a very strong reputation among investors as being a reliable and easy-to-use broker.
Coinjar allows you to buy crypto instantly with a debit card or use the exchange to implement more advanced trading strategies. The platform also offers a great range of educational resources that can be used to improve your skills and use the platform with confidence.
Top Features
- Tools for both personal and professional investing
- A large range of educational resources
- Fast registration and instant buy
- 90% of cryptocurrency holdings are stored in cold offline storage
- Great simple interface for beginners
- Has a mobile app that is very highly rated
- Experienced traders may find Coinjar too basic
- Limited range of cryptocurrencies (only 60 available)
- Some features only available to residents of Australia
Coinjar is one of the best options for those looking to trade small amounts of Bitcoin in the UK. Its processes can be slightly more lengthy than other industry competitors, but it offers a simple to use platform that’s accessible to beginners.
5. OKX – The best Bitcoin broker for experienced traders
OKX is one of the largest cryptocurrency brokers available to UK traders. The platform offers both crypto and NFTs as well as a range of complex features for more experienced traders.
If you’re looking to implement advanced trading strategies, this could be the best option for you. Through OKX you can access APIs, peer-to-peer trading, staking, and the advanced Trading View platform for technical analysis.
Although the platform offers advanced trading tools, OKX is easy to use and very user-friendly. You can use the platform on either desktop or mobile and customise the dashboard to suit your needs.
Top Features
- Low commission fees
- Wide range of spot and derivative products for active trading
- Professional charting tools and analysis software available
- Over 400 available trading pairs
- Over 20 million active users
- Commissions starting at 0.1%
- Debit and credit card payments are more expensive than market competitors
- Derivative products are not suitable for beginners and carry risk
- No demo account
OKEx is a great platform for advanced traders; it is one of the better to use when trading spot and leverage. Again, these products carry high risk and should be undertaken with care.
How to Get Started With a Bitcoin Broker in the UK
The process of setting up an account is similar across most brokers that are available in the UK. Here is an overview of the steps involved.
Step 1: Create an account
Visit the official website or download the app of your chosen broker. Then, create an account by inputting all of your personal information.
Step 2: Verify your identity
Provide ID and proof of address to begin authenticating your account. You will need to do this to adhere to the relevant KYC regulations.
Step 3: Deposit funds
Once verified, you will need to deposit some funds into your account. Brokers offer a range of different ways in which you can do this from credit cards to bank transfers. Then, begin trading!
How Much Does it Cost to Buy Bitcoin Through a Broker?
Brokers often come with higher fees than crypto exchanges. This is because brokers have to cover the costs of account managers and brokerage services.
The price of buying Bitcoin through a broker will vary depending on the broker that you use and the size and type of trades that you place. Most brokers charge a commission per trade, although some charge spreads.
You may also be required to pay account management fees, withdrawal fees and inactivity fees.
Should I Use a Broker or an Exchange?
Deciding whether to use a broker or a crypto exchange to buy Bitcoin depends on your needs and experience level.
If you’re new to Bitcoin and prefer a more guided, straightforward approach, a broker might be your best bet. Brokers often provide user-friendly interfaces and personalized support, making it easy to navigate the process without much technical know-how. However, this convenience usually comes with higher fees.
On the other hand, if you’re more experienced or want greater control over your trades, an exchange could be the way to go. Exchanges typically offer lower fees and access to a broader range of trading tools, but they require you to manage your transactions and security.
So, if you’re confident in your ability to handle the details and want to minimize costs, an exchange might suit you better. If you prefer simplicity and support, a broker could be the right choice.
Final Thoughts
The increased popularity of Bitcoin has seen a huge range of brokers now offering Bitcoin to UK customers. With such a wide variety it is important that you define what you want from a broker and then use this criterion to determine which is the best choice to buy Bitcoin in the UK for you.
There is also a selection of general criteria for what to look for in a broker like a range of available pairs and products, trading tools, deposit methods, fee structure, cross-device compatibility, and language availability. With so many brokers now offering Bitcoin to buy in the UK you can try to find a broker with as many of these as possible.
Overall, eToro remains one of the top brokers that can hit a large majority of the criteria you should look for when choosing a broker to buy Bitcoin in the UK. It is great for beginners and has competitive rates when compared to other brokers. Moving on from this, Binance remains one of the best platforms for users more familiar with crypto trading and offers a specialized platform with zero commissions and some of the best fees in the game.
FAQs
What is the difference between a broker and an exchange?
Exchange is the next most popular method of trading. Whereas a broker is a centralized individual or business making trades on behalf of its users, and exchange is a mediated arena for users to make trades between themselves via an order book or ledger.
What is the best way to buy Bitcoin in the UK?
The best way to buy Bitcoin in the UK is through a regulated broker, such as eToro. These platforms provide robust security and excellent customer support to make the process of buying Bitcoin simple.
Which UK bank is most crypto friendly?
Revolut stands out as one of the most user friendly banks in the UK. The mobile banking app offers a regular cryptocurrency exchange as well as an advanced trading interface for complex trading.
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