Best broker for crypto trading in the UK - eToro
| Company |
Overall Rating |
Investment Choices |
Minimum Deposit |
Crypto Trading |
Visit Site |
 eToro
|
 |
|
$100 info |
Yes |
|
Ease of Use: While testing eToro's platform, I found it was easy to buy or sell crypto through the eToro crypto trading platform. Simply select the asset you want to buy and select ‘trade’. The good thing about eToro is that you can also test investing in crypto by opening an eToro demo, or paper trading account. This means you can buy and sell crypto using virtual funds without risking any of your own money.
Investment Offerings: As well as the popular currencies such as Bitcoin, Ethereum, and XRP, eToro also offers newer tokens including EOS, TRON, and Algorand (ALGO). You can filter the 105 cryptocurrencies offered on eToro by selecting the biggest daily movers, by market cap and trending crypto. You can also invest in crypto portfolios – collections of crypto assets organised by concepts or themes.
Fees: eToro charges a 1% commission for buying or selling crypto, on top of spread fees of around 1%. A $10,000 investment will cost you around $200 in fees. If you want to transfer your crypto assets from the eToro platform to the eToro Money crypto wallet, there is a fee of 2% of the transaction size (minimum fee of $1 or maximum fee of $100).
The fee structure from eToro is fairly transparent, but total crypto fees can be difficult to calculate in advance as there will also be a blockchain fee through the wallet that is variable depending on the specific coin and current trading conditions. The exact fee paid, such as the gas fee when trading Ethereum, will only be confirmed at the time of the transfer.
Wallet and transfers: You need the eToro Money app (wallet) to sell your crypto and convert the funds back to cash, or to transfer your crypto to another wallet. You can’t transfer money from the money app back to the main eToro investment platform. Not all crypto can be transferred from the eToro investment platform to the eToro Money crypto wallet either. Currently, you can only transfer Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, Tron, Cardano, and XRP.
There is also a minimum amount you can transfer from your eToro investment account to your eToro money wallet. For bitcoin, the minimum transfer amount is 0.007195 which works out at around £363 currently. So if you hold small amounts of crypto, you’ll find it difficult to transfer. The minimum position amounts for different crypto can be found on the eToro crypto transfer page.
Limitations and drawbacks: If you are investing small amounts or are investing in niche currencies, you may find it costly or difficult to withdraw your money. Bear in mind that if you have many positions in crypto because you bought in several chunks, the $100 fee cap will apply to each one. Fees to transfer to your eToro money wallet can therefore quickly rack up if you are routinely trading large quantities.
Best for beginners - Revolut
| Company |
Overall Rating |
Investment Choices |
Minimum Deposit |
Crypto Trading |
Visit Site |
 Revolut
|
 |
|
£0 - £540 info |
Yes |
|
Like eToro, Revolut offers novice crypto buyers an easy way to get started. Revolut is a popular banking and currency exchange app that recently received its UK banking licence.
Ease of use: Aimed at beginners, it’s easy to buy cryptocurrency through Revolut and the app offers key information such as current value, charts showing historical performance, some learning guides, and crypto news.
Investment offerings: Revolut offers major cryptocurrencies including Bitcoin and Ethereum as well as emerging coins such as Toncoin, Braintrust, Seamless, Tether, and Echelon Prime. In the app, you can sort crypto by the top gainers or top losers of the day, or the most traded. You can buy through many currencies, depending on what you hold in your wallet.
You can also discover groups of crypto organised in a single collection that you can invest in. Money invested into a collection will be evenly distributed across all the crypto held in the collection. For example, you can invest in ‘Memes’ - tokens reflecting internet trends and culture - such as Dogecoin and dogwifhat. Another collection example is ‘Data management and storage’, which holds currencies including Chainlink and Filecoin. If you want to sell out of the portfolio at any point, keep in mind that you’ll have to sell each crypto individually.
Fees: Revolut crypto trading charges are £1.49 or 1.49%, whichever is higher when buying or selling crypto. This is higher than other crypto exchanges in the UK. There is also a variable spread fee charged by the exchange partner used by Revolut, which is built into the price of the coins.
Wallet and Transfers: You can transfer eligible crypto coins bought through Revolut to an external wallet or other Revolut users. Simply tap the ‘crypto’ tab at the bottom of the screen and select ‘send’. Add the wallet address or scan a QR code to send. You will be charged a network fee and a service fee, which is determined and shown at the point of transfer. The fee depends on network congestion at the time and whether your withdrawal is batched with other transactions.
Limitations and drawbacks: A drawback of Revolut is that crypto prices are delayed and do not take into account short-term price variations which makes it unsuitable for those who trade frequently based on immediate market movements.
Final thoughts: Overall, my view is that Revolut offers a good experience for people new to crypto trading as it’s easy to buy and sell coins. However, fees are on the higher side and there is no option to transfer your assets to a more secure wallet. If you are investing large sums of money, you’ll find cheaper and more extensive crypto exchanges and platforms elsewhere.
FAQs
What is the best crypto exchange for beginners in the UK?
Most regular UK investment platforms or brokers don’t offer cryptocurrencies. Coinbase or Kraken are popular UK crypto-focused exchanges used in the UK, offering many crypto assets for generally low fees.
If you’re thinking of investing in wider investments such as stocks or bonds, check out my guide to the best trading platforms for beginners.
Which app is best for crypto trading in the UK?
Revolut or eToro are probably the best apps for crypto trading as a beginner in the UK. Revolut makes it easy to buy and sell crypto, although fees are on the higher end. With eToro, you can sign up for a demo account, meaning you can test trading cryptocurrencies before committing any of your own money. Be aware you need to invest sizable amounts to transfer crypto from the investment platform to the eToro money wallet. If you are interested in trading stocks as well as crypto, see my guide to the best stock trading apps in the U.K.
Can you claim crypto losses on taxes in the UK?
In the U.K., capital gains tax (CGT) is charged on any profit made when you sell an investment. There is an allowance each year, which is currently £3,000 in the 2024/25 tax year. So if the profit you make from the sale of investments totals less than £3,000, there is no CGT to pay. Remember that investments held and sold through an ISA are not liable for CGT.
If you make more than £3,000 in profit, then the capital gains tax rate is 10% or 20% depending on your income tax band. If you make profit from the sale of one cryptocurrency but make a loss on another, then the losses can be offset against the profit of the other. So if you make a £3,000 profit on one crypto asset but a £3,000 loss on another, there would be no CGT to pay.
What crypto exchange has the lowest fees?
Kraken and Coinbase are both among the crypto exchanges with the lowest fees. Kraken charges fees of 0.40% when buying crypto and this fee drops to as low as 0.10% depending on how much you trade over a 30-day period (amounts of over $10 million attract the lowest 0.10% fee). Coinbase charges 0.6% trading fees. Note that there may be additional spread fees and costs depending on the payment method you use.
Which crypto exchanges are regulated in the UK?
Crypto exchanges or brokers including Revolut, eToro, Coinbase, Bitstamp, and Uphold are registered with the Financial Conduct Authority (FCA). The cryptocurrency trading market is largely unregulated in the U.K., although firms offering crypto have to register and adhere to strict marketing rules and abide by anti-money laundering rules set by the FCA. However, there is no protection from the FCA once you’ve bought cryptocurrency, unlike other investments such as stocks, bonds, or funds. If the company goes bust, you will not have access to the Financial Services Compensation Scheme (FSCS) to recoup your money.
Are Exchange Traded Securities the same as crypto assets in the UK?
No, exchange-traded securities are not the same as crypto assets. Exchange-traded securities are listed on a stock exchange and include stocks, ETFs, and investment trusts. A crypto asset includes virtual coins such as bitcoin or NFTs. Exchange-traded securities are traded on stock exchanges during specified market hours. Crypto assets are bought and sold through blockchain technology and can be traded at any time of day.
Why you should trust us
Elizabeth Anderson has been a financial journalist for more than a decade. She’s written for major national newspapers, contributed to corporate reports and research, and reviewed dozens of share dealing platforms, SIPP providers, ISAs, and brokerage firms. Elizabeth started her career at Bloomberg and has worked for the BBC, The Telegraph, The Times and the i newspaper. She is passionate about helping people understand finance and investing. A keen investor herself, Elizabeth invests through general dealing accounts, ISAs and several SIPPs.
Steven Hatzakis is a well-known finance writer with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
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At UK.StockBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and collect hundreds of data points while testing brokerage firms, share dealing platforms, SIPP providers, ISA providers, and other financial service providers relevant to U.K. investors.
Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:
- For Apple, we use MacBook Pro laptops running macOS 14.5, and the iPhone 15 running iOS 17.6.1
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Our researchers thoroughly test a wide range of key features, such as the availability and quality of trading platforms for web, desktop, and mobile, charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
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