Best Crypto Trading Platform UK – How to Trade Crypto in the UK

Make no mistake about it – more and more people in the UK are looking to learn how to trade crypto. Not only does this include an interest in Bitcoin – but dozens of alternative crypto assets. For example, the best crypto trading platforms in the UK now give you access to hundreds of markets – all of which you can access from the comfort of your home.

If you’re completely new to digital currencies, this beginner’s guide will discuss how to trade crypto in the UK in a safe and risk-averse manner.

#1 Broker to Trade Crypto UK – eToro

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  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
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Best Crypto Trading Platforms UK – List of Top Crypto Trading Platforms UK

When learning how to trade crypto in the UK – you will first need to choose a suitable platform. Below you will find an overview of the best crypto trading platforms currently in the UK market.

  • eToro – Overall Best Crypto Trading Platform UK
  • Coinbase – Top Crypto Trading Platform for Beginners
  • OKEx – Best Crypto Trading Platform UK for Low Commissions
  • Binance – Best Crypto Trading Platform UK for Asset Diversity
  • Coinjar – Great Crypto Trading Platform for Small Stakes

Further down in this guide you will find full reviews of the best UK crypto trading platforms highlighted above.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

How to Trade Crypto UK – A Quick Guide For 2021

Being able to trade crypto successfully requires some knowledge of the markets and an understanding of the many risk-management strategies that you have at your disposal. While we cover these metrics in more detail later, below you will find a quickfire guide on how to trade crypto in the UK with eToro – a low-cost broker that is regulated by the FCA.

  • Step 1: Open an Account with eToroYou will first need to register an account with eToro – which you can do by providing the broker with some personal information, contact details, and a username and password.
  • Step 2: Upload Your ID – Quickly upload a copy of your passport or driver’s license so that you can get your account verified.
  • Step 3: Deposit Funds – You will need to deposit funds before you can trade crypto at eToro. This top-rated broker supports UK debit/credit cards, Paypal, Skrill, and bank transfers.
  • Step 4: Choose Crypto Market – eToro supports over 30 leading cryptocurrencies – all of which you can trade from just $25 (about £18). Enter the name of the cryptocurrency you wish to trade in the search box at the top of the page – e.g. Bitcoin.
  • Step 5: Trade Crypto – All you need to do now is enter your stake. For example, if you wish to buy $50 worth of Bitcoin, simply enter this into the ‘Amount’ box. Finally, to place your first crypto trade – click on the ‘Open Trade’ button.

By following the steps outlined above, you will have placed your first crypto investment in under five minutes!

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

Step 1: Choose the Best Crypto Platform UK

As noted above, the first requirement when learning how to trade crypto in the UK is to select a suitable broker. This is no different from choosing a stockbroker to buy shares, insofar that you need to look at a number of core factors. For example, you need to assess what crypto markets the broker supports, what fees it charges, and whether or not it is regulated by the FCA.

Below we discuss the many metrics that need to be considered in your search for the best crypto trading platform in the UK.

Regulation and Licensing

In the same way that you wouldn’t buy shares from an unlicensed brokerage site, you must never select a crypto trading platform that operates in an unregulated manner.

  • Therefore, it goes without saying that the very best crypto trading platforms in the UK will be authorized and regulated by the UK’s Financial Conduct Authority (FCA).
  • A prime example of this is eToro – which holds that all-important FCA license.
  • This ensures that you are using a credible brokerage that takes regulation and investor protection seriously.

Unfortunately, many crypto trading platforms in the UK operate without the backing of the FCA, so these providers should be avoided.

Crypto Trading Markets

Once you are confident that the crypto trading platform is credible and trustworthy, it’s then time to look at what markets you will have access to. For example, many first-time crypto investors will simply look to buy Bitcoin. However, if you are looking to take a more diversified approach to investing, you might also be interested in trading alternative crypto assets.

etoro supported crypto

For example, the likes of Ethereum, XRP, Dogecoin, Litecoin, and Cardano have all performed well in 2021 – so it’s worth seeing what markets your chosen platform offers. eToro, for example, offers all of the aforementioned digital currencies and more. In fact, the broker also offers a number of decentralized finance (DeFi) coins, which many in this industry argue could be the next big thing.

Crypto Trading Fees

Just like stockbrokers charge share dealing fees, each crypto trading platform will have its own pricing structure in place. This can come in various forms – such as commissions, spreads, and deposit fees.

This is actually one of the most important metrics to consider when choosing the best crypto trading platform in the UK – so below we’ve broken down each fee category in more detail.

Commissions

Trading commissions are fairly self-explanatory in the crypto arena. In a nutshell, the commission is charged every time you place a trade. This means that you will be required to pay a fee when you enter a position and again when you close it.

  • At leading cryptocurrency broker Coinbase, you will pay a standard commission of 1.49% per slide
  • So, if you purchased £1,000 worth of Ethereum, Coinbase would charge you a commission of £14.90
  • Then, if a few months later you cashed out your Ethereum position at a total amount of £3,000 – your commission at Coinbase would translate to £44.70.

If you’re new to crypto trading in the UK – you should know that a commission of 1.49% is actually very expensive. After all, you have UK crypto trading platforms like eToro – which allow you to buy and sell digital assets on a spread-only basis.

Spread

The spread is essentially the mark-up that your chosen crypto trading platform makes on the current price of the respective digital asset. In other words, it’s the gap between the ‘buy’ and ‘sell’ price of the cryptocurrency you are trading.

  • For example, let’s suppose that the ‘real’ spot price of Bitcoin was $40,000
  • We’ll say that your chosen crypto trading platform offers a buy price of $40,100
  • The sell price on the same platform amounts to $39,900
  • This means that on this occasion, the spread when buying and selling Bitcoin amounts to $200

At eToro, you can trade crypto at a spread of just 0.75% – which is very competitive. Many brokers in this industry charge a spread in excess of 2-3%, so it’s important to understand what you are paying before placing any orders.

Deposit Fees

Commissions and spreads are fees related directly to your trading activity. However, you also need to consider non-trading fees – such as those surrounding deposits. In the crypto trading scene, this can actually amount to a lot of money – especially if you are planning to deposit funds with a debit or credit card.

etoro crypto fees

For example:

  • If you buy crypto at Coinbase with a debit or credit card, you will pay a total fee of 3.99%
  • The same transaction at eToro would cost you just 0.5%

Some crypto trading platforms will instead charge a flat fee. As such, be sure to check this out before completing the deposit.

Payment Methods

So now that we have covered regulation, markets, and fees – the next metric to consider when searching for the best crypto trading platform in the UK is payment methods. If this is your first time trading crypto from the comfort of your home, then we can assume that you do not currently own any digital assets. As a result, you will need to fund your trading account with GBP.

  • It goes without saying that the vast majority of UK crypto traders will deposit funds with a debit or credit card.
  • Not only is this super convenient, but the broker will likely process the transaction instantly.
  • However, not all crypto trading platforms support UK debit/credit cards, so this needs to be checked before you open an account.

Additionally, brokers like eToro also support e-wallets (including Paypal) and local bank transfers. As discussed above, you also need to check what fees are applicable for your chosen payment method.

Customer Support

If you are relatively new to the world of online crypto trading, you will want to select a platform that offers a top-rated customer support team. The easiest way to make contact with a trading platform is via the live chat feature – so check whether or not this is offered. Rarely do platforms offer a telephone support line, as most crypto brokers operate on a global basis.

Other Factors to Consider

In addition to the core factors discussed above, you should also check the following metrics in your search for the best crypto trading platform in the UK:

  • User-Friendliness: If you are a crypto trading newbie, make sure your chosen platform is designed with beginners in mind.
  • Mobile App: The best crypto trading platforms in the UK will offer a native mobile app that connects to your main account.
  • Education: User-friendly platforms like eToro and Coinbase offer an in-house educational facility. This is great for improving your crypto trading knowledge.
  • Demo Account: It’s also handy if your chosen provider offers a free demo account. This will allow you to trade crypto in a risk-free manner. At eToro, all users get a demo account that comes pre-loaded with $100k in paper funds.

As you can see from the comprehensive of the above sections, there is a considerable amount of information to consider when searching for a suitable platform. This is why in the sections below, we review the best crypto trading platforms in the UK.

Step 2: Read Our Best UK Crypto Trading Platform Reviews

If you don’t have the required time to research dozens of providers, below you will find in-depth reviews of the best crypto trading platforms currently offering investment services to UK residents.

1. eToro – Overall Best Crypto Trading Platform UK

bitcoin todayIf you’re a beginner that is looking for the overall best crypto trading platform in the UK – eToro wins hands down. This popular brokerage is used by over 20 million people and most importantly – it’s heavily regulated. In addition to regulation from the FCA, eToro is also licensed in the US, Australia, and Cyprus. Crucially, this means that you can buy, sell, and trade cryptocurrencies without needing to worry about safety or legitimacy.

In addition to being a trusted broker, eToro is also great for market diversity. For instance, the platform lists over 30 leading cryptocurrencies – which includes everything from Bitcoin, Ripple, and Dogecoin to AAVE, Litecoin, and Decentraland. Regardless of which cryptocurrency you decide to trade at eToro, the minimum stake is just $25. This is even the case for digital assets like Bitcoin – which is priced in the thousands of pounds per token.

As we mentioned earlier, eToro is also a low-cost crypto trading platform. Instead of paying commissions, you simply need to cover the spread – which in the case of Bitcoin, starts at just 0.75%. You can also add funds to your account at a fee of just 0.5% – which is one of the cheapest in this marketplace. Withdrawals are also cost-effective at just $5 per transfer (about £4). Another major feature of the eToro platform is that you can trade crypto passively.

This is made possible through the Copy Trading tool – which allows you to select from thousands of verified investors. Once you have selected a successful crypto trader that you like and decided how much you wish to invest – all future positions will be mirrored in your own eToro portfolio. Additionally, you can also invest in a basket of cryptocurrencies through a single trade – which is known as the eToro CryptoPortfolio. This is professionally managed by eToro – so again, this promotes passive investing.

etoro copy trading

We should also mention the eToro app – which has superb reviews on both the App Store and Google Play. This will connect to your main eToro account, meaning that you can trade crypto no matter where you are located. We also like the fact that eToro offers a custodial wallet – which means that your digital assets are kept safe at all times. Getting started at eToro requires a minimum first-time deposit of $200 (about £145). Supported payment methods include Visa, MasterCard, Paypal, Skrill, UK bank transfers, and more.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Buy thousands of UK and international stocks at 0% commission
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Regulated by the FCA, CySEC, and ASIC
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Top Crypto Trading Platform UK for Beginners

Buy MANA at Coinbase

Coinbase is a US-based cryptocurrency broker with over 68 million clients. Launched way back in 2012, Coinbase has one of the longest track records in this industry. Due to continued expansion, Coinbase has since set up an office in the UK – meaning that you can easily trade crypto with pounds and pence. In fact, the broker offers full support for debit and credit cards – so you can easily fund your account and start trading in under 10 minutes.

You will, however, first need to go through a KYC process, which means you will need to upload a copy of your passport or driver’s license – alongside a selfie. Then, you can choose from dozens of cryptocurrency markets of all shapes and sizes – all of which you can purchase with your Visa or MasterCard. As we noted earlier, this, unfortunately, comes attached with a transaction fee of 3.99% – which is one of the most expensive in this marketplace.

coinbase review

If you are prepared to wait a couple of days for your money to arrive, Coinbase offers fee-free deposits via a UK bank transfer. In terms of trading commissions, Coinbase charges 1.49% per slide. Once again, this is expensive – especially when you consider that the commission is charged at both ends of the trade. Nevertheless, Coinbase allows you to trade crypto online or via its mobile app – which is available to download free of charge on both iOS and Android devices.

In addition to its core trading services, Coinbase offers a number of alternative cryptocurrency products that might be of interest. First, you have the Coinbase wallet – which allows you to store digital assets on your mobile phone. This is separate from the previously discussed app – as the mobile wallet gives you full access to your private keys. Coinbase also offers a Visa debit card – which allows you to spend your digital currencies in-store, online, or at an ATM.

Pros

  • One of the most popular cryptocurrency exchanges
  • More than 68 million users
  • Supports instant debit card purchases
  • Dozens of digital currencies to choose from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

3. OKEx – Best Crypto Trading Platform UK for Low Commissions

okex review

OKEx is both a cryptocurrency exchange and a broker – meaning that it supports a wide range of strategies. For example, if you want to buy cryptocurrency with a debit/credit card or via a UK bank transfer – this is possible. What you can also do is trade crypto pairs with the view of making small but frequent gains. This is because OKEx hosts hundreds of markets at super competitive commissions.

In fact, the maximum commission you will pay to trade crypto at OKEx is just 0.10%. By trading larger amounts or holding some OKB tokens, your commission structure will be reduced. The platform has been operational since 2014, so naturally, OKEX has amassed a great reputation in this industry. Plus, OKEx is now used by over 20 million clients from around the world. Once you are on the trading page for your desired market, you will have access to numerous tools and features to enhance the decision-making process.

okex review

For example, OKEx offers real-time prices via comprehensive charts, drawing tools, and even technical indicators. You will also have access to risk-management tools – such as stop-loss orders. We also like the fact that OKEx offers a number of decentralized finance products – such as savings accounts. Your capital will be used to fund margin trading positions, which in turn, will allow you to earn interest on your idle cryptocurrencies. VELO, for example, yields an APY of 120% – which is huge.

Staking is also a possibility on the OKEx platform. This will see you lock up your crypto assets for a certain number of days to help confirm blockchain transactions for the respective network. This will also result in your earning interest. You then have the OKEx lending facility, which supports decentralized loans. OKEx also offers a decentralized wallet that comes via a mobile app. This allows you to store your cryptocurrencies safely, as only you will have access to your private keys.

Pros

  • Trusted crypto exchange with over 20 million users
  • More than 400+ digital currency pairs
  • Buy and sell cryptocurrencies with a debit/credit card or bank transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation and highly secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products too complex for beginners

at eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

4. Binance – Best Crypto Platform UK for Asset Diversity

When it comes to volume and client numbers, no crypto trading platform in the UK gets close to Binance. First and foremost, the platform facilitates tens of billions of dollars worth of trading volume every day – which is significantly more than any other exchange in this space. As a result of this, you will never struggle to find sufficient levels of liquidity on the Binance platform – even when you are trading smaller-cap coins. In total, Binance claims that it now serves over 100 million clients worldwide – which again, is huge.

Binance is particularly popular with those in the UK that are looking to achieve asset diversity. This is because the exchange lists hundreds of cryptocurrencies of all shapes and sizes. For example, this includes large-cap projects like Ethereum and Bitcoin, ERC-20 tokens, NFTs, and DeFi coins. You will find cryptocurrencies traded against fiat currencies like GBP, as well as alternative tokens. This makes Binance suitable for traders of all skill sets. When trading digital currencies at Binance, you will pay just 0.10% in commission.

binance review

Much like OKEx, more favorable commissions are offered to those trading larger volumes. If you want to buy cryptocurrency instantly with a debit or credit card, this is also possible at Binance. You will first need to upload some ID – as per KYC regulations. After all, you can purchase your chosen digital asset at a commission of 1.8%. UK bank transfers are free and fairly fast – so this might be the better way to fund your Binance account. You will also find that Binance is good for storage, as the exchange is behind the popular Trust Wallet.

This is a decentralized mobile wallet that can store thousands of cryptocurrencies and give you access to multiple blockchain networks. Binance also offers crypto savings accounts – which are great for earning income on your digital asset investments. As great as Binance sounds, we should note that it has since removed the ability for UK residents to withdraw GBP to a bank account or debit card. As such, you can only withdraw funds via crypto – which is a major drawback.

Pro

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit cards
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

5. Coinjar – Best Crypto Trading Platform UK for Small Stakes

coinjar review

If you are a complete novice in the world of digital assets, then you will want to consider a crypto trading platform that supports small stakes. In doing so, you can get to grips with how this trading arena works before risking more substantial amounts. We found that Coinjar is a great option in this respect, as the platform supports deposits from just £5. You can meet this account minimum via a bank transfer or a debit/credit card deposit.

If electing to use your debit/credit card, you will pay a fee of 2%. Bank transfers via the UK Faster Payments network are free and Coinjar notes that in most cases, the funds should arrive within the hour. Standard commissions at Coinjar – which are charged every time you buy or sell a cryptocurrency, amount to 1% per slide. This is actually expensive, especially when you consider that you also need to cover the spread.

Coinjar review

There are no demo accounts offered by Coinjar, But, with such a small minimum deposit requirement on offer, you can crypto trade with real money without needing to break the bank. In terms of supported markets, Coinjar offers a reasonably broad number of crypto assets. Popular cryptocurrencies include the likes of Bitcoin, Ethereum, Ripple, Stellar, and Litecoin. You will also find an extensive number of DeFi coins – which covers 0x, AAVE, Kyber Network, Maker, Synthetix, and much more.

What we also like about Coinjar is that the platform operates in GBP. This means that when you view cryptocurrency prices, you don’t need to worry about exchange rate fluctuations. Additionally, Coinjar offers a recurring buy feature – which allows you to invest in digital currencies on a regular basis without needing to manually place orders. For example, you might decide to invest £100 into Ethereum and Ripple at the end of each month, or £30 into Bitcoin per week.

Pros

  • Has been active in the crypto brokerage arena since 2013
  • Very user-friendly platform – so perfect for beginners
  • Mininmum deposit of just £5
  • No fees to deposit funds via Faster Payments
  • Debit/credit cards also supported
  • Top-rated mobile app

Cons

  • Too basic for experienced cryptocurrency traders

at eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

Step 3: Set Up Crypto Trading Account

Now that we have discussed the best crypto trading platforms in the UK – the next step is to get your brokerage account set up. Depending on your chosen platform, this part of the process can take you less than five minutes. For example, at eToro, it’s just a case of proving some personal information and uploading a copy of your ID.

With this in mind, we are now going to walk you through the process of getting started with FCA-regulated broker eToro.

Open an Account

Visit the eToro website to begin the account opening process. You will need to click on the ‘Join Now’ button and then fill out the registration form that populates on-screen.

how to join etoro

The details that will need to be entered are as follows:

  • First and Last Name
  • Residential Address
  • Date of Birth
  • National Insurance Number
  • Mobile Number
  • Email Address

In addition to the above, you will also be asked to upload a copy of your passport or driver’s license. This is because eToro is regulated by the FCA – so it cannot legally permit anonymous crypto trades. As soon as you upload your ID, eToro will automatically validate it.

Note: Don’t have any ID to hand? If so, eToro will still allow you to make a deposit of up to $2,250 (about £1,700). However, until you upload the required document, you won’t be able to request a withdrawal from your account.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider. 

Deposit Funds

The final part of the account setup process is to add some funds. First and foremost, eToro requires a minimum first-time deposit of $200 – which is about £145. As the broker operates in US dollars – which mirrors that of the global cryptocurrency markets, you will need to pay a small FX fee of 0.5%.

You can choose from the following payment methods when making your deposit at eToro:

  • Visa
  • Visa Electron
  • MasterCard
  • Maestro
  • UK Bank Transfer
  • Skrill
  • Paypal
  • Neteller

Apart from a conventional bank transfer, all other deposit methods are processed instantly.

Step 4: Learn How to Trade Crypto UK

At this stage of our beginner’s guide, you should have a fully verified and funded account with eToro. This means that you are just one step away from placing your first crypto trade! However, like all trading markets, cryptocurrency prices will move up and down throughout the day. As such, you need to be aware of the risks involved and what trading strategies will give you the best chance of succeeding in this space.

To help point you in the right direction, below we explain the core fundamentals of how to trade crypto.

Crypto Pairs and Markets

When learning how to trade crypto in the UK, the first thing you need to consider is the specific markets that interest you. For example, in the traditional stocks and shares space, you have thousands of companies to choose from. In the world of crypto, there are more than 12,000 tokens that can be bought and sold. This gives you lots of options when it comes to selecting a suitable trading market.

best cryptocurrencies to trade

With that said, cryptocurrencies are also traded in pairs. This means that you might be trading a digital asset against a fiat currency like pounds or US dollars.

  • A prime example of this is BTC/USD, which consists of Bitcoin and USD.
  • This is actually the largest and most liquid crypto pair in the market – and therefore a great option for beginners.

Alternatively, you can also trade pairs that contain two digital currencies. For example, let’s suppose that you were to trade XRP/BTC. In doing so, you would be trading the value of Ripple against Bitcoin. These pairs are much harder to trade as a newbie, not least because you do not have a fiat currency to gauge market prices.

Placing Orders

In order to trade crypto in the UK, you need to know how to place orders. This is actually a lot more straightforward than it sounds, as there are only a select number of orders that you need to have a firm grasp of.

This includes the following:

Buy and Sell Orders

When you open a trade, you will need to do so with a buy order. This tells your chosen crypto trading platform that you think the digital asset will increase in value.

  • For example, let’s say that you are trading UNI/USD.
  • This means that you are looking to trade Uniswap – which is priced in US dollars.
  • Once you place a buy order at your chosen platform, it will remain open until you decide to close it.
  • When you are ready to cash out, you would simply need to place a sell order.

Prior to January 2021, it was also possible for UK traders to open a crypto position with a sell order. This would mean that you are short-selling the cryptocurrency and thus – you hope that the coin goes down in value. However, crypto derivatives are no longer available to retail investors in the UK –  as per FCA regulations.

Market and Limit Orders

The best crypto trading platforms in the UK that we came across will give you the option between a market or limit order. This tells the platform how you wish to enter the market in terms of your opening price.

For instance:

  • By placing a market order, your crypto trade will be executed instantly at the current price.
  • By placing a limit order, you get to choose the price at which your trade is executed. When the price point is triggered by the markets, your limit order will be activated.

If you are looking to trade cryptocurrency on a long-term basis, you will be better off opting for a market order. This is especially the case if you are a beginner.

But, if you are planning a more sophisticated trade on a shorter-term basis, then a limit order might be more suitable. After all, this will allow you to specify the exact entry price that your order is placed.

Stop-Loss and Take-Profit Orders

And finally – when learning how to trade crypto in the UK – it’s also important to know about stop-loss and take-profit orders. These two order types will tell your broker when to close your crypto position. As such, you won’t need to sit at your device waiting for a suitable exit point – as this will be stated before you place your order.

  • A stop-loss order is placed to mitigate your potential losses – should the trade not go in your favor. For example, you might decide to set this at 3%. This would mean that no matter what happens, you won’t lose more than 3% of your stake.
  • A take-profit order will ensure that your potential profits are locked in. For example, you might target a profit of 10% on a trade. If this figure is reached, the crypto trading platform will automatically close your position and your profits will be secured.

Essentially, all crypto trades should have a buy order to enter the market, alongside a stop-loss and take-profit order for risk-management purposes.

Step 5: Placing a Crypto Trade

In the final section of this guide on how to trade crypto in the UK, we are going to walk you through the process of placing your first order. Once again, we will base our instructions on the process required at FCA-regulated broker eToro.

Search for Market

First, you need to search for the cryptocurrency that you want to trade. eToro makes this an easy process, as you simply enter the name of the digital token into the search box.

how to buy ethereum

For instance, in the example above, we are looking to trade Ethereum. When the correct result loads, click on the ‘Trade’ button.

Place Trade

You will now need to fill out an order box – which will be displayed on your screen after clicking the ‘Trade’ button in the previous step. Here, you will need to enter the orders that we discussed in the prior section.

By default, this will be set to a market order, which means that your position will be placed instantly at the next best available price. This is the best option for beginners that are entering the crypto trading market for the first time. You can, however, change this to a limit order and state your preferred entry price – if you wish.

how to buy ethereum

You can also set up a stop-loss and take-profit order. You will also need to enter your stake into the ‘Amount’ box – which needs to be at least $25.

Finally, to place your first crypto trade on the eToro platform – click on the ‘Open Trade’ button.

Sell Crypto Trade

Your crypto trade will remain active for as long as you wish. The tokens will be stored safely in your eToro portfolio until you are ready to cash out. If you set up a stop-loss or take-profit order, eToro will close your position when one of your stated price points is triggered. If not, you will need to exit your position manually.

  • This is easy at eToro, as you simply need to head over to your portfolio, find the token that you bought, and then click on the ‘Sell’ button.
  • After confirming the sell order, eToro will close your position.

The proceeds will then be added to your eToro account – which you can then withdraw back to your bank account or debit/credit card (depending on your deposit method).

Best Crypto Trading Platforms UK – Conclusion

Not only has this guide reviewed the best crypto trading platforms in the UK – but we have also walked you through the learning process of how to buy and sell digital currencies from the comfort of your home. Although this industry is growing at an exponential pace, you do need to ensure that you tread with caution. After all, cryptocurrencies are a volatile asset class. 

If you are ready to start trading crypto right now – we would suggest checking out eToro – which is authorized and regulated by the FCA. This user-friendly platform is perfect for beginners and you can trade over 30+ crypto markets from just $25. Getting started is a breeze too – as eToro supports UK debit/credit cards, e-wallets, and bank account transfers. 

eToro – Best Crypto Trading Platform UK

etoro review

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.