Top 5 Bitcoin Trading Platform UK 2022

The popularity of bitcoin has surged, and more investors are becoming attracted to the new revolution every day, necessitating the use of a bitcoin trading platform. While it may appear frightening at first, and while frauds have occurred and continue to occur, today’s finest bitcoin trading platforms make buying and selling cryptocurrency easier and more transparent than ever before.

Because each platform has its own set of features, you must decide which trading platform is appropriate for your bitcoin needs. Certain platforms have an online trading feature that allows you to copy and paste other cryptocurrency traders’ trades into your own. You may be able to trade in a larger quantity of coins with some.

There are various bitcoin trading platforms available online where you may buy, sell, and trade digital assets. However, the majority of these are uncontrollable. You should look into the platform’s crypto markets, charges and commissions, trading systems, and accepted payment methods in addition to the licensing.

What is Bitcoin Trading?

Bitcoin trading is a strategy for profiting from price fluctuations in cryptocurrency. The whole procedure involves, buying bitcoin on an exchange and expecting a price increase over time, cryptocurrency traders are increasingly employing derivatives to speculate on both rising and decreasing prices in order to profit from bitcoin’s volatile nature.

What is a Bitcoin Trading Platform?

A Bitcoin Trading Platform, similar to stock or currency exchanges, is an investing platform that allows you to purchase and sell Bitcoin and crypto goods from other makers. You can exchange your cryptocurrency for a traditional currency such as the US dollar or for other cryptocurrencies known as altcoins.

Investors utilizing a Bitcoin Trading Platform have two options for placing buy and sell orders: market orders or limit orders. A market order allows you to sell cryptocurrency at the current market price. A limit order, on the other hand, allows you to sell crypto at a rate that you designate, giving liquidity to other users on the site. Only if the market price reaches the price you specify will your request be fulfilled.

Best Bitcoin Trading Platforms

Your requirements as a trader and investor are the most important elements in picking the best bitcoin trading platform. Before we get into the details of the best bitcoin trading platforms, let’s have a look at the most popular trading platforms right now:

  1. eToro– Best Bitcoin Trading Platform in 2022
  2. Coinbase– Most User-Friendly Trading Platform
  3. Binance– Low commissions
  4. PrimeXBT– Best for Trading CFDs on Bitcoin
  5. Robinhood– Best for beginners

According to our research, these are the finest bitcoin trading platforms. Let’s take a deeper look at each of the trading platforms.

Best Bitcoin Trading Platforms Reviewed

1. eToro- Best Bitcoin Trading Platform in 2022

etoro Bitcoin Trading Platform

eToro is likely to be the finest crypto day trading platform in 2022. This well-known trading platform is, first and foremost, and probably most importantly, carefully regulated. Not only does eToro have full ASIC, FCA, and CySEC licenses, but it’s also FINRA-authorized and registered.

You can use a traditional payment method to deposit funds. Debit/credit cards, e-wallets, and bank transfers are all examples of this. Before we get into the details of how to fund your crypto trading account, it’s important to remember that eToro is a commission-free broker. This implies there are no trading expenses at all.

There are fiat-to-crypto pairs for the US dollar, euro, pound sterling, yen, and other currencies in this section. BTC/XRP and ETH/BTC are two examples of crypto-to-crypto pairs that can be traded. Furthermore, eToro is a commission-free bitcoin trading platform when it comes to fees. This means you won’t be charged any fees if you enter and exit the market as many times as you want.

etoro trading Platform

In addition, eToro allows you to trade cryptocurrency cross pairs. For those who don’t know, this means you’ll be trading Bitcoin’s future price with altcoins like Ethereum, Ripple, Dash, NEO, BNB, BCH, and Litecoin. If you’re more of a general investor, you’ll appreciate the fact that eToro also offers equities from 17 different marketplaces.

ETFs and CFD trading on commodities, currency, indices, and more are also accessible. It’s also worth looking into eToro’s Copy Trader tool, which allows you to invest passively. Your portfolio will be identical to that of your chosen trader. eToro requires a $50 minimum payment to get started. However, you can purchase and sell Bitcoin for as little as $25 for each transaction. Finally, eToro can be accessed via its website or its native investment app.

2. Coinbase- Most User-Friendly Trading Platform

coinbase

On the basis of customer accounts, Coinbase is the largest crypto trading platform. Coinbase has grown so quickly since its debut in 2012 that it is now a NASDAQ-listed public corporation with over 35 million registrations.

As a result, when you trade bitcoin on Coinbase, your funds are secure. Coinbase is a very user-friendly approach to trade Bitcoin. This is immediately apparent when you visit its website, as everything is written out so simply and without jargon.

Furthermore, when it comes to security, Coinbase is unrivaled. It holds 98 percent of client cash in cold storage, making it almost impenetrable to external hacking. It also has security features like two-factor authentication and the option to lock your Bitcoin for two days after you demand a withdrawal.

Coinbase has a solid assortment of cryptocurrencies to acquire in terms of tradable marketplaces. Coinbase Pro, as it is currently known, has a large number of cryptocurrency pairs, many of which include Bitcoin.

coinbase Bitcoin Trading Platform

The software also provides users with a virtual wallet and global customer assistance. Coinbase is a great option for those who are new to the crypto trading market and don’t want to join social trading platforms.

The anticipated commission for purchasing Bitcoin with a linked ACH account is 1.49 percent. When you buy Bitcoin with another cryptocurrency you already have in your Coinbase Wallet, the commission is usually 50%. Buying $1,000 worth of Bitcoin from a recognized bank account, for example, will cost $15.

3. Binance- Low commissions

binance

Binance is the world’s largest digital currency exchange, with over 200 different cryptocurrencies available for trading. Hundreds of billions of dollars in volume flow through this massively popular cryptocurrency exchange every day. 

Hundreds of pairings, including several small-cap coins, are available on the platform. A large number of ERC-20 tokens are included in this. Depending on where you live, you may be able to make a deposit with your debit or credit card.

Binance features a mobile trading application for iOS and Android that is simple to use and handles all of the essential operations of a trading platform. The software provides the option to place orders, manage every digital asset, analyze P&L, and look at transaction records, as well as live Bitcoin pricing.

binance Bitcoin Trading Platform

The fees, on the other hand, are quite high, ranging from 3% to 4%. The trading fees on Binance, on the other hand, are exceptionally minimal. In reality, the platform charges only 0.1 percent and considerably less if you have a Binance Coins allotment (BNB). Binance is a great location to start if you prefer technical analysis because it has a number of advanced charting tools and order types.

When it relates to security, Binance has institutional-grade protections in place. This includes its SAFU service, which is a fund set up to reimburse consumers in the case of a hack from the outside. Finally, Binance is best suited to experienced traders, as you will have access to a plethora of advanced analysis tools.

4. PrimeXBT- Best for Trading CFDs on Bitcoin

Prime XBT

PrimeXBT is the greatest cryptocurrency exchange for trading CFDs on Bitcoin, Ethereum, and other digital assets. This bitcoin trading platform was founded in Seychelles in 2018 and now operates in 150 countries, with the exception of the United States and Canada, which have tougher crypto-exchange legislation.

PrimeXBT has developed significantly over the last several years despite excluding consumers from such huge cryptocurrency markets. Although the complete lack of regulation may concern some users, PrimeXBT prioritizes user security by holding funds in an offline storage wallet.

Regardless of the fact that PrimeXBT allows customers to trade over 50 various assets, it only takes Bitcoin as a form of transaction, not fiat currencies. Fortunately, the Changelly API makes it simple to transfer your money to Bitcoin.

primexbt Bitcoin Trading Platform

If you’re more comfortable with financial markets in general than bitcoin in particular, you might be able to make more money by investing in these five CFDs rather than owning or managing the cryptocurrency.

You won’t be charged a deposit fee, but you will be charged a fixed withdrawal cost of 0.0005 BTC every time you withdraw. For all cryptocurrency-based trades, PrimeXBT also levies a 0.05 percent fee. Keep in mind that you’ll also have to pay Changelly conversion costs.

Regardless of the assets, you choose to trade, you’ll like PrimeXBT’s user-friendly platform, which includes tools like price charts, Bitcoin leverage, and copy trading. You can also use the PrimeXBT mobile app to access your account.

To serve its global user base, PrimeXBT offers customer service in English and eight other languages 24 hours a day, seven days a week.

5. Robinhood- Best for beginners

robinhood

Robinhood is one of the better options for beginning traders who desire a simple, easy-to-understand interface without the complicated UI that other brokers provide. Despite its limited trading options and account types, even a complete novice may rapidly grasp Robinhood’s user-friendly platform.

The app allows you to rapidly access your tax documents and account information, and you may set up an account and start investing in as little as 10 minutes. Making a transaction is also straightforward. Short descriptions of each selling and buying order are provided beneath each option to assist you to understand – this is a terrific tool for novices.

A large number of investors have already used the site, which is simple to use and, of course, commission-free. This means that, similar to eToro, you may purchase your favorite digital agency at no cost.

robinhood Bitcoin Trading Platform

For those of you who want to invest in cryptocurrencies but just have a limited amount of cash, Robinhood is a fantastic option. Indeed, you can buy Bitcoin for as little as 0.00001 BTC on Robinhood. This means you may invest as little as $0.54 at current prices. In addition to Bitcoin, you may buy Dogecoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin SV, and Bitcoin Cash.

Robinhood accounts can be created either online or through the mobile trading app. You’ll have access to stock exchanges, options, and exchange-traded funds as well (ETFs). You’ll need to employ a wire or an ACH transfer to make transactions. Robinhood does not require a minimum deposit, making it ideal for small investments.

For crypto traders, Robinhood Crypto does not charge a commission, but it does make a little profit when the order is executed.

Consider These Factors When Choosing a Bitcoin Trading Platform

Security

As an investor, you should always prioritize the safety of your crypto assets. The best cryptocurrency exchanges use security features like two-factor authentication and asset insurance to protect your bitcoin and sensitive data.

It would also be beneficial if you investigated how the exchange stores users’ crypto. Hot wallets, which are always connected to the Internet and so constitute a security risk, are used by several bitcoin exchanges. Cold storage hardware devices, on the other hand, do not have a constant connection to the internet, preventing would-be hackers from gaining access to your crypto.

Fees

The cost structure for each cryptocurrency exchange is different. Trading fees, which are the most frequent sort of charge, give the crypto exchange a small part of your transaction. You should evaluate fees before making a decision because prices for the identical trade might vary substantially from one exchange to the next.

Ease of Use

You don’t want your bitcoin exchange platform to add to the uncertainty by providing a non-intuitive user experience. The crypto industry is already complicated enough.

Because the platform will serve as the central center for your crypto trading experience, you’ll want to pick one that’s simple to use, with simple buy-and-sell order placement and useful trading features.

Read user reviews of multiple crypto exchanges before committing to one to see what other cryptocurrency traders enjoyed and didn’t like about their platforms.

Number of Crypto Coins

If you’re a cryptocurrency investor trying to diversify your holdings, you should choose a cryptocurrency exchange that offers a diverse range of crypto assets.

Payment Methods

When deciding on the finest cryptocurrency exchange for your purposes, keep in mind how you’ll deposit and withdraw your funds.

Some cryptocurrency exchanges only accept particular payment methods, making them cumbersome to use. You might be able to trade with fiat currencies on one crypto exchange, but only another crypto as payment on another.

A crypto exchange may allow you to buy cryptocurrency with a credit card, but bear in mind that you’ll have to go through extensive identification verification each time, pay higher costs, and risk being scammed.

Some cryptocurrency exchanges may also allow you to send money via wire transfer from your bank account, but be aware that this may take much longer.

Regulation

Different regulatory organizations will oversee cryptocurrency exchanges depending on where they operate. These authorities’ guidelines will protect people from scams and other unethical behavior. If something goes wrong while you’re utilizing a regulated crypto exchange, you have legal options for resolving the situation.

How to Start Trading on the Best Bitcoin Trading Platform?

If you’ve read our recommendations for the best bitcoin trading platform from beginning to end, you’re ready to start buying and selling crypto pairs. If that’s the case, we’ll walk you through the steps to get started with eToro.

Step 1: Open a New Account at eToro

Search for the ‘Join Now’ option on the eToro website. You must first establish an account by providing personal information.

etoro registration

This contains basic information like your name, address, and date of birth. You’ll need to create a username and password as well.

Step 2: Upload ID

eToro will need to verify that you are the rightful owner of the account. As a result, you’ll need to submit a few documents for verification.

The following are examples of this:

  • A government-issued photo ID (such as a passport or driver’s license)
  • As proof of address, a recent utility bill or bank account statement
etoro verification

eToro will often verify your documents within one hour. You can fund your account until then.

Step 3: Deposit Funds

It’s straightforward to make a deposit at eToro. All that remains is for you to select your payment method and the amount you wish to deposit. A $50 payment is required at the time of booking. Unless you choose a bank transfer, the deposit will be immediately credited to your account.

etoro funds deposit

Step 4: Look for a Bitcoin Trading Market

eToro has a plethora of Bitcoin trading marketplaces, so look for one that interests you. To get started, go to the website’s ‘Trade Markets’ section and select ‘Cryptocurrencies.’ This will show you every Bitcoin trading market that you have access to.

etoro btc

Newcomers, on the other hand, should probably adhere to a typical purchase and sell strategy, as we mentioned previously. With this in mind, simply type ‘Bitcoin’ into the search box and select the ‘Trade’ option.

Step 5: Trade Bitcoin

This is where you will place your order. This is placed as a ‘purchase’ order by default, implying that you are expecting an increase in the price of Bitcoin.

All you have to do now is enter your stake into the ‘Amount’ box to keep things simple. This must be done in US dollars with a minimum of $25. You should, however, set up a stop-loss and take-profit order if you want to swing or day trade Bitcoin.

etoro btc

Finally, to finish your commission-free Bitcoin trade, click the ‘Open Trade’ button.

Conclusion

Whether you’ve been a long-time investor or just want to dip your toe into the world of cryptocurrencies for the first time, you should carefully explore all of your alternatives before deciding on the finest bitcoin trading platform for your needs. Our list of top-tier trading platforms should assist you in making your decision.

Don’t worry if the first crypto exchange you choose doesn’t meet your expectations. If you’re new to cryptocurrency trading, it may take some time to learn the ropes, and committing to a platform may require some trial and error. If available, use the practice accounts provided by multiple exchanges to acquire a feel for each platform.

Once you’ve decided on one of the crypto exchanges we’ve shown you today, taking advantage of the platform’s numerous features should help you quickly become an informed and capable cryptocurrency trader.

After considering all of this, we came to the conclusion that eToro is by far the greatest Bitcoin trading platform. The broker is regulated by the FCA, and it offers commission-free Bitcoin trading with a $25 minimum stake.

etoro

Frequently Asked Questions

Are Bitcoin trading platforms in the United Kingdom regulated?

The FCA regulates some Bitcoin trading platforms in the UK, such as eToro. This means you can trade in a secure and safe environment. Many platforms, however, are not licenced by the FCA or any other regulator, so proceed with caution.

Are there any Bitcoin trading platforms in the United Kingdom that accept PayPal?

Debit/credit cards and bank account transfers are accepted by the majority of licenced Bitcoin trading platforms in the United Kingdom. eToro is the only platform that takes PayPal that we are aware of.

Do any Bitcoin trading platforms in the United Kingdom provide leverage?

You could trade Bitcoin with a 1:1 leverage up to June 2022. Your first bet would have been doubled. However, the FCA has subsequently outlawed crypto CFDs, so you won’t be able to leverage your trades (unless you use an unregulated platform, which you shouldn’t).