Best UK Crypto Exchanges
Finding the best crypto exchange in the UK can be frustrating. Between fees, ID checks, withdrawal limits and unclear regulations, it’s tough to know who to trust with your money. Our July 2025 guide to the best crypto exchanges for UK investors is here to save you time, clear up the confusion, and help you choose a secure, reliable platform. Let’s get into it.
What is the deal with crypto trading in the UK?
The UK has taken a cautious but clear stance on crypto trading. Since January 2021, retail investors have been banned from accessing crypto derivatives and exchange-traded notes (ETNs). That includes futures, options, and leveraged tokens, products the FCA considers too risky for most everyday users. Certain tokens are also unavailable, like privacy coins, and high-risk assets.
| Derivatives & Margin | Token Availability | ID Verification | Large Crypto Transfers |
|---|---|---|---|
| ❌ Margin Trading & Derivatives (futures, options, leveraged tokens) restricted under FCA rules. | ❌ Major tokens like DAI, HNT, OMNI, TREMP and privacy coins such as XMR are restricted. | ✅ Mandatory for all users, with appropriateness and investor categorisation checks. | ⚠️ Extra sender & recipient info required for crypto transfers over €1,000. |
Ban lift?
While retail access to derivatives and ETNs remains banned since 2021, the FCA is consulting on potentially allowing retail cETNs if properly regulated. (June 2025). The team at Koinly will keep this guide updated if changes are made.
Restrictions on crypto platforms
The UK crypto exchange landscape has become much harder to navigate for everyday investors. With strict FCA rules now in place, covering anti-money laundering, financial promotions, and the Travel Rule, platforms must meet high compliance standards, and retail users are barred from using derivatives or margin trading. It can feel frustrating, especially as some popular global exchanges like Binance, OKX, and Bybit have pulled out or restricted UK access altogether.
If you're doing your own research, use the FCA Firm Checker to see if your favourite platform is registered.
What are the best UK crypto exchanges?
Despite heavy regulations, UK investors still have a solid set of options: FCA-registered platforms like Kraken, Coinbase, Gemini, Revolut, Crypto.com, and CoinJar continue to offer GBP support, staking, and tax-friendly features. While choice is more limited, what remains is safer, more transparent, and better aligned with UK investor protection.
| Exchange | GBP Deposit Methods & Limits | GBP Withdrawal Limits & Fees | Maker/Taker Trading Fees (Tier 1) | Cryptocurrencies |
|---|---|---|---|---|
| Kraken | Faster Payments (up to £80,000/day); PayPal (£7,000/week, 72h hold); min deposit ~£1 | FPS free; SWIFT fees up to £35; min withdrawal £1 | Maker 0.25 %, Taker 0.40 % | ~350 |
| Coinbase | Faster Payments (min ~£2); card (up to £7,500/day) | Bank withdrawals up to £100 k/day free; debit card fee ~3.99 % | Maker 0.25 %, Taker 0.40 % | ~240 |
| Revolut | Faster Payments, card/ATM; daily ATM cap ~£3,000 | Crypto withdrawals vary by activity; network fees apply | Maker 0 %, Taker 0.09 % (Revolut X) | ~230 |
| Crypto.com | Faster Payments (min ~£20); Apple/Google Pay; card top-ups ~£4,500/day | FPS withdrawals capped at £100 k/day; FPS fee £1.90; crypto network fees vary | Maker/taker not publicly tiered; typical spreads ~0.10–0.20 % | ~400 |
| Gemini | Faster Payments (via Plaid, min £10); CHAPS, SWIFT, Apple/Google Pay | Bank withdrawals up to £100 k/day; crypto withdrawal network fees apply | Maker 0.35 %, Taker 0.65 % (approx.) | ~70 |
| CoinJar | Faster Payments free (1–2 h); monthly cap £50 k | FPS/bank capped at £25 k/month; card fee ~2 %; crypto network fees apply | ~60 | |
| Uphold | Faster Payments unlimited; Apple/Google Pay/card (£10–15 k/day; £50 k/month) | GBP withdrawals £25 k/day, £175 k/week, £700 k/month; card ATM fees apply | Maker/Taker not tiered, spreads apply (~0.20–0.50 %) | ~250 |
| Nexo | Faster Payments (min ~£10) | Crypto withdrawals £9 k/day; ATM cap £540/day; network fees apply | ~60 | |
| eToro | Bank transfer, card, PayPal; min deposit £50 | Min withdrawal £30; $5 (~£3.90) fee; 1.5–3 % FX fee | ~90 | |
| Bitstamp | FPS (≤ £250 k/day); debit card; bank transfer; min deposit ~£10 | FPS fee £2; wire transfer 0.1 % (min £25); crypto withdrawal fees apply | Maker ~0.10 %, Taker ~0.25 % (estimated) | ~80 |
Let's take a closer look at each:
Kraken
Kraken has served UK crypto investors since 2014 and operates with full FCA oversight. UK users can trade over 350 cryptocurrencies, including stablecoins and altcoins, with fee-efficient trading. GBP deposits and withdrawals are supported via Faster Payments and SWIFT, though processing may be slower than some rivals. Kraken Pro offers advanced trading tools, detailed analytics, and API access, while on-chain and off-chain staking is available for supported assets. However, as with all FCA-registered platforms, margin and futures trading are restricted for most UK retail users unless classified as professional or high-net-worth, and certain tokens are unavailable due to regulatory limits. There is also no support for credit card funding, and the interface may be less intuitive for beginners. All Kraken activity is subject to UK tax rules. Profits are taxable and Kraken may report user data to HMRC.
Kraken UK trading restrictions and limits
Retail users cannot access derivatives or margin trading.
Tokens like DAI, XMR, HNT, OMNI, and TREMP are unavailable due to regulatory restrictions.
Opt-in rewards, fiat P2P, the Reef programme, and business account onboarding are not supported.
Access requires investor categorisation and an FCA-mandated appropriateness assessment.
GBP deposits supported via Faster Payments (up to £80,000 daily for Intermediate users; £8 million+ for Pro) and PayPal (£7,000 weekly, 72-hour withdrawal hold).
Withdrawals start from £1, with fees up to £35 depending on method.
Crypto transfers over €1,000 require sender and recipient details.
Has Kraken ever been hacked in the UK?
No, Kraken has never been hacked in the UK, and no customer funds have ever been lost due to a breach. The platform is widely considered one of the most secure options for UK investors.
However, in June 2024, a zero-day bug allowed a researcher to withdraw around £2.2 million from Kraken’s treasury (not customer funds); the issue was patched within 47 minutes.
Kraken Security Labs regularly test for vulnerabilities and maintain a bug bounty programme
Over 95% of assets are stored offline in air-gapped, multi-signature cold storage
Account-level protection includes 2FA, hardware key support, master key, PGP-encrypted emails, and withdrawal whitelists
FCA registration and full UK compliance add another layer of security and oversight
Does Kraken have KYC and comply with UK regulations?
Yes, Kraken complies with UK regulations and requires full identity verification for all users. Here’s what UK investors should know:
Registered with the Financial Conduct Authority (FCA) as a cryptoasset firm (Payward Ltd)
Authorised by the FCA as an Electronic Money Institution (Payward Services Ltd)
Also authorised as an Investment Firm (Crypto Facilities Ltd) to offer certain regulated crypto services
Enforces full KYC checks for UK users before trading, depositing, or withdrawing
Complies with the UK’s implementation of the Travel Rule for crypto transfers
Requires information about both sender and recipient for certain transfers, including self-hosted wallets
Partners with TRUST (Travel Rule Universal Solution Technology) to securely and privately exchange required data
Operates under strong anti-money laundering and counter-terrorist financing rules
Coinbase
For UK investors, Coinbase is one of the easiest and most trusted ways to trade crypto. It is registered with the FCA, including a VASP licence obtained in February 2025, which permits Coinbase to offer both crypto and fiat services in the UK. The UK-friendly platform supports over 240 cryptocurrencies including BTC, ETH, and ADA. Plus UK users can transfer funds directly to Coinbase from their bank account for free. British users also get access to Coinbase Wallet for self-custody, dApps, DeFi, and NFT features. However, Coinbase does have some trade-offs: fees are higher than some rivals, altcoin selection is narrower than platforms like OKX or Binance, and advanced tools are limited unless using Coinbase Advanced. Whether you are just getting started or looking to maximise your profits on Coinbase, it is important to remember that all trades are taxable in the UK, and Coinbase is obliged to report user data to HMRC.
Coinbase UK trading restrictions and limits
Retail users cannot access crypto derivatives.
Some features of Coinbase Advanced may be restricted without FCA assessments.
Investor categorisation and appropriateness assessments are required for full access.
Certain tokens and platform features may be unavailable.
GBP deposits supported via Faster Payments, with a minimum deposit around £2.
Card purchases allowed up to £7,500 daily; withdrawal limits vary by method, up to £100,000 per day.
Crypto transfers over €1,000 require sender and recipient details.
Has Coinbase ever been hacked in the UK?
No, Coinbase has never experienced a direct hack targeting UK systems or accounts. However, there have been a few global incidents:
2021 SMS 2FA Exploit: Hackers exploited a vulnerability in Coinbase’s SMS-based two-factor authentication, allowing them to access around 6,000 user accounts and steal funds. The issue was quickly patched, and all affected users were reimbursed.
2025 Insider Breach: In a targeted attack, cybercriminals bribed overseas customer support agents to leak personal information (like names and emails) of roughly 69,000 users. No passwords or funds were accessed, and Coinbase refused the $20 million ransom demand. The platform has since tightened internal controls and is working with authorities.
Despite these incidents, Coinbase remains one of the most security-conscious platforms globally and is fully FCA-registered and VASP-licensed in the UK.
Does Coinbase have KYC and comply with UK regulations?
Yes. Coinbase fully complies with UK regulatory requirements, including mandatory KYC checks, anti-money laundering (AML) protocols, and sanctions screening. It holds both an FCA e-money licence and VASP registration, allowing it to offer crypto and fiat services legally in the UK. Despite a 2024 FCA fine for compliance lapses, Coinbase has since enhanced its controls, making it one of the most regulated and trusted crypto exchanges in the UK.
Revolut
Revolut is a FCA-registered finance platform offering regulated crypto services in the UK. With Revolut, UK users can trade from more than 230 vetted cryptocurrencies, buy as little as £1 worth, and use market or limit orders. GBP deposits and withdrawals are seamless via Faster Payments, with no extra fees for crypto exchanges. While derivatives and margin trading are unavailable, Revolut offers optional upgrades like Revolut X, a web-based exchange with live order books and lower fees for advanced users. Staking is also available on select assets like ETH and DOT, giving UK investors the option to earn passive income from crypto. Revolut ensures UK investors enjoy easy, regulated crypto access, though certain advanced features and high-volume trades are restricted to maintain compliance and security. Revolut complies with the UK Travel Rule, and shares data with HMRC. Crypto gains must be declared for UK tax.
Revolut UK trading restrictions and limits
Retail users cannot access crypto derivatives or margin trading.
Crypto transfers over €1,000 require sender and recipient details.
Up to 200 crypto buy/sell exchanges allowed per 24-hour period.
Card and ATM withdrawals capped (e.g., £3,000 per day ATM limit).
Crypto withdrawal limits reset daily or monthly and vary by user activity.
No cap on crypto deposits, but external wallet withdrawals may be subject to internal risk checks.
Has Revolut ever been hacked in the UK?
No confirmed hacks have targeted UK Revolut accounts
UK customer funds have never been stolen due to a breach
Global incidents have occurred, but were limited in scope
Some phishing attempts have impersonated Revolut, not breached it.Revolut’s 24/7 fraud team intercepted over £475 million in potential scams in 2023
Revolut has strengthened security and fraud detection as a result
Does Revolut have KYC and comply with UK regulations?
Yes, Revolut fully complies with UK regulations and requires KYC for crypto users.
Registered with the FCA under the UK’s anti-money laundering and transfer of funds regulations
Approved as an Electronic Money Institution since 2018, and registered for crypto services in 2022
Requires full identity verification (passport or driving licence plus proof of address) before allowing crypto trades
Complies with the UK Travel Rule—withdrawals over €1,000 need sender and recipient names
Operates under robust anti-money laundering and counter-terror financing standards
Crypto.com
Crypto.com is a strong choice for UK crypto investors thanks to its full FCA authorisation and robust GBP support. Since August 2022 it has been registered as a cryptoasset business, and since December 2023 it holds a UK Electronic Money Institution licence, meaning regulators oversee its operations closely. UK users can buy and sell over 400 coins, use crypto Visa cards, and send and receive GBP via Faster Payments or Apple and Google Pay. The platform also adheres to the UK Travel Rule, collecting and sharing sender and recipient information on transfers, and it reports relevant data to HMRC, in line with UK crypto tax rules - so any trades, rewards, or interest must be declared for tax purposes.
Crypto.com UK trading restrictions & limits
Retail users cannot access derivatives or margin trading.
Crypto transfers over €1,000 require sender and recipient details.
GBP deposits and withdrawals supported via Faster Payments, Apple Pay, and Google Pay.
Withdrawals have varying caps by method and user tier, but can reach £100,000/day in some cases
Daily card top-ups limited to around £4,500; withdrawal limits vary by method.
Deposits typically start from £10 depending on payment method.
Crypto.com reports to HMRC; users must declare any gains, interest, or rewards.
Has Crypto.com been hacked in the UK?
No known hacks have specifically targeted UK users
In January 2022, a global breach affected 483 accounts, with $34 million in crypto stolen
The incident bypassed 2FA; Crypto.com reimbursed affected users
No UK-specific losses were reported
Since then, Crypto.com has strengthened security with enhanced 2FA, withdrawal delays, and address whitelisting
Does Crypto.com have KYC and comply with UK regulations?
Yes, Crypto.com complies with all UK regulatory requirements and enforces full identity verification for all users. Here’s what UK investors should know:
Registered with the Financial Conduct Authority (FCA) as a cryptoasset business since August 2022
Authorised by the FCA as an Electronic Money Institution since December 2023
Requires full KYC checks in line with UK Money Laundering Regulations
Enforces the UK Travel Rule, requiring sender and recipient details for crypto transfers over €1,000
Operates under strict FCA anti-money laundering and counter-terrorist financing rules
Gemini
Gemini is a top UK crypto exchange offering around 70 cryptocurrencies, with full support for GBP deposits and withdrawals through Faster Payments, CHAPS, and SWIFT. Founded in New York in 2014, it launched in the UK in 2020 after gaining approval from the Financial Conduct Authority (FCA). In early 2025, Gemini moved its European HQ from Dublin to Malta to follow new EU rules. It was also the first exchange to earn top international security certifications, showing its strong focus on keeping user funds safe. UK Gemini users can enjoy a variety of features, including recurring buys, Gemini Staking, and an ActiveTrader interface with lower fees. There are sale and purchase limits that depend on your verification level, typically generous for most retail users, though higher-tier accounts can access larger limits. Gemini reports to HMRC, and UK investors must declare any trading gains or staking income for tax purposes.
Gemini UK trading restrictions & limits
Retail users cannot access derivatives or margin trading.
Crypto transfers over €1,000 require sender and recipient details.
GBP deposits and withdrawals supported via Faster Payments, CHAPS, SWIFT, Apple Pay, and Google Pay.
Daily card purchases and top-ups typically capped at £7,500.
Deposit minimums start around £2 depending on method.
Withdrawals limited up to £100,000 per day based on verification level.
Has Gemini been hacked in the UK?
No known hacks have targeted UK users or systems
In 2022, a breach involving IRA Financial Trust (a Gemini client) led to £28 million in losses; Gemini disputed liability and later settled
Also in 2022, a third-party vendor leak exposed some user emails and phone numbers, but no funds were lost
Gemini continues to enforce strong security measures, including 2FA, hardware key support, and address whitelisting
Does Gemini have KYC and comply with UK regulations?
Yes, Gemini complies with UK regulations and enforces full identity verification for all users:
Registered with the Financial Conduct Authority (FCA) as a cryptoasset firm
Authorised by the FCA as an Electronic Money Institution
Launched UK services in 2020, allowing full GBP support via Faster Payments, CHAPS, and SWIFT
Enforces KYC checks for all UK users before trading or funding accounts
Complies with the UK Travel Rule, requiring sender and recipient details for certain crypto transfers
Adheres to UK anti-money laundering and counter-terrorism financing regulations
Holds SOC 1 Type 2 and SOC 2 Type 2 certifications, supporting secure and compliant operations
CoinJar
CoinJar is one of the longest-running crypto exchanges, founded in 2013 and active in the UK since 2014. With over 600,000 users, it offers more than 60 cryptocurrencies and focuses on the UK and Australian markets. CoinJar is FCA-registered under UK Money Laundering Regulations, giving British users a compliant and secure platform. UK investors can deposit and withdraw GBP via Faster Payments, with typical processing times under a few hours. Card payments and bank transfers are supported, with reasonable limits based on verification. Some trading limits apply and are tied to verification level. CoinJar offers strong GBP support and compliance, though some restrictions apply to maintain regulatory standards.CoinJar provides clear transaction records to help with UK tax reporting. As with any UK exchange, profits may be taxable and data may be shared with HMRC.
CoinJar UK trading restrictions & limits:
Retail users cannot access derivatives or margin trading.
Crypto transfers over €1,000 require sender and recipient details.
GBP deposits via Faster Payments are free, processed within 1–2 hours, with a £50,000 monthly limit.
GBP withdrawals via Faster Payments or bank transfer capped at £25,000 per month.
Card payments capped at £5,000 per month, with a 7-day hold on purchases.
External crypto transfers limited to £25,000 monthly; internal transfers up to £125,000 daily.
Has CoinJar been hacked in the UK?
No known hacking incidents have targeted CoinJar UK or its UK-based user accounts
CoinJar itself has not suffered any breaches or loss of customer funds to date
The platform’s security team actively monitors transfers and implements safeguards like 2FA, email confirmation on new device logins, and hot wallet protections
Some UK users encountered scam websites pretending to be CoinJar, but no actual exchange breach occurred. Always double-check you’re on coinjar.com
Does CoinJar have KYC and comply with UK regulations?
Yes, CoinJar complies fully with UK regulations and enforces robust identity verification. Here's what UK investors should know:
Registered with the FCA as both a Cryptoasset Exchange Provider and Custodian Wallet Provider
Requires UK users to verify identity using valid ID (passport, driving licence, or UK residence permit) plus proof of address
Includes an appropriateness assessment during onboarding to ensure users understand crypto risks
Conducts ongoing KYC and anti-money laundering checks, including transaction monitoring and gathering sender/recipient details as needed
Enforces the UK’s Travel Rule: transfers over €1,000 require identity data for both sender and receiver
Applies a 24-hour cooling-off period before new users can start trading
eToro
eToro, a renowned global trading platform established in 2007, offers a wide variety of financial investment options. But is eToro accessible to UK investors? Absolutely, eToro has extended its services to cater to European investors, including the UK where it is FCA-registered. When it comes to assessing platform safety, it's of utmost importance. So, how secure is eToro? The platform places a strong emphasis on its robust security features, and all deposits are subject to compliance checks, closely monitored by a dedicated team. Currently, eToro boasts millions of users worldwide and provides support for a diverse range of cryptocurrencies for trading.
eToro UK trading restrictions & limits:
Retail users cannot access crypto derivatives or margin trading.
Crypto transfers over €1,000 require sender and recipient details.
GBP deposits supported via bank transfer, card, and PayPal; minimum deposit is £50.
Withdrawals start from £30 and incur a fixed $5 (approx. £3.90) fee.
eToro enforces KYC and AML checks and reports user data to HMRC.
While eToro lists many cryptocurrencies, only select tokens are supported for wallet withdrawals.
Has eToro experienced any security breaches?
No, there have been no significant publicised instances of security breaches or hacks on eToro. eToro maintains strict security protocols, offering multi-factor authentication for accounts, including password, email, and SMS verifications. Moreover, eToro is subject to regulation by top-tier authorities such as the FCA, CySEC, and ASIC, ensuring compliance with the highest operational standards. They also adhere to GDPR regulations to safeguard user data. Nevertheless, investors should always exercise caution and utilise all available security features
Does eToro have KYC & comply with UK regulations?
Yes, eToro is FCA-registered and requires users to provide personal information along with a valid photo ID when opening an eToro account in the UK.
Bitstamp
Bitstamp UK Limited has been registered with the FCA as a cryptoasset business since mid‑2023, meeting UK anti-money laundering and counter-terrorist financing standards. Established in 2011 and operating in the UK since 2013, Bitstamp enables UK investors to trade over 80 cryptocurrencies with GBP support via debit card, bank transfer, and Fast Payments. Card purchases are subject to daily limits of around £2,500 and monthly limits of £20,000. It offers both basic and Pro modes, with advanced features like market, limit, stop, and trailing stop orders.
Bitstamp UK trading restrictions & limits:
Retail users cannot access derivatives or margin trading.
Crypto transfers over €1,000 require sender and recipient details.
GBP deposits supported via debit card, bank transfer, and Faster Payments.
Card purchases capped at £2,500 daily and £20,000 monthly.
Deposits start from around £10 depending on method.
Withdrawal limits depend on account tier; typically £10,000 for Tier 1 and higher limits for verified Tier 2 accounts.
Has Bitstamp ever been hacked in the UK?
In January 2015, Bitstamp—then with a registered UK office—was hacked via a targeted phishing attack on employees, resulting in the theft of roughly 19,000 BTC (~£3.4 million at the time) from its hot wallet, not its main reserve
Withdrawals were temporarily halted while services were secured and restored, with assurances that most user assets were safely stored offline in cold storage.
Since the incident, Bitstamp has strengthened its security protocols, including improved employee phishing defences, hot/cold wallet separation, and enhanced compliance measures.
While there are no recent UK-specific breaches, occasional phishing or account takeover attempts occur—highlighting the importance of personal security measures.
Does Bitstamp have KYC and comply with UK regulations?
Yes, Bitstamp meets all UK compliance requirements and enforces full KYC for its users:
Bitstamp UK Limited is registered with the FCA as a cryptoasset firm under UK Money Laundering Regulations.
UK users must complete full identity verification, typically requiring photo ID and proof of address, consistent with standard KYC procedures.
It operates under strict AML and counter-terrorist financing rules enforced by the FCA.
Uphold
Uphold is a strong contender for one of the best crypto exchange options in the UK, offering a secure, FCA-registered platform with full GBP support. Uphold Europe Limited is registered with the Financial Conduct Authority as a cryptoasset firm and operates under UK anti-money laundering rules. British users can buy, sell, and hold a wide range of cryptocurrencies, with deposits and withdrawals supported in GBP. Uphold also enforces full compliance with the UK Travel Rule, requiring sender and recipient details for transfers over €1,000. The platform offers a debit card with up to £10,000 in daily spending, and users can manage both crypto and fiat in one place. Uphold is SOC 2, ISO 27001, and PCI DSS certified, ensuring strong security practices. Like all exchanges operating in the UK, any crypto trading or staking rewards on Uphold may be taxable and must be reported to HMRC.
Uphold UK Trading Restrictions & Limits
Retail users cannot access derivatives or margin trading.
Crypto transfers over €1,000 require sender and recipient details.
GBP deposits supported via Faster Payments (typically unlimited), Apple Pay, Google Pay, and cards (£10–£15,000 daily; £50,000 monthly cap).
GBP withdrawals range from £10 to £25,000 per day, with weekly and monthly caps of £175,000 and £700,000 respectively.
Crypto withdrawals have no fixed cap but may be subject to transaction reviews or network limits.
Users can place up to 50 open limit orders at a time without pre-funding.
Has Uphold ever been hacked in the UK?
No breach has ever impacted UK user funds directly—Uphold itself hasn’t been hacked.
In July 2022, a third-party email service used by Uphold experienced a breach, exposing some UK customer email addresses (no financial losses occurred).
Uphold has not suffered any attacks on its own systems; it maintains a spotless on-platform security record .
The platform offers strong safeguards—2FA, encryption, 24/7 monitoring, device whitelisting, and a public bug bounty—to protect user accounts
Does Uphold have KYC and comply with UK regulations?
Yes. Uphold fully complies with UK rules and enforces strict KYC.
Registered with the FCA as a cryptoasset firm and operates under UK anti-money laundering laws.
Requires full identity verification (e.g., passport, driving licence, proof of address) before crypto services are activated.
Enforces the UK Travel Rule — requiring sender and recipient information for crypto transfers over €1,000.
Operates under strong FCA anti-money laundering and counter-terror financing controls.
Uses ongoing transaction and risk monitoring, and enforces limits based on account level and activity.
Nexo
Nexo is a popular crypto platform in the UK, especially for users interested in earning interest or borrowing against their crypto. While it resumed onboarding in 2024 and follows FCA guidance, such as requiring annual Investor Categorisation and Appropriateness Assessments, it’s important to note that Nexo is not formally registered with the FCA as a cryptoasset business. This means it operates under UK rules but without full regulatory approval. UK users can still access GBP trading, lending, and earn products, but should be aware of the compliance gap. As with all platforms, crypto tax UK rules say that trading gains or earning interest on Nexo is taxable and may need to be reported to HMRC.
Nexo UK trading restrictions and limits
Retail users cannot access derivatives or margin trading; Nexo Pro is unavailable.
Services are restricted unless users complete annual investor categorisation and appropriateness assessments.
Nexo is not FCA-registered as a cryptoasset business, though it follows UK regulatory guidance.
GBP deposits supported via Faster Payments, typically starting from £10.
Daily crypto withdrawal limit is £9,000; ATM withdrawals capped at £540.
Crypto transfers over €1,000 require sender and recipient details.
Has Nexo ever been hacked in the UK?
No, Nexo has never been directly hacked. However, users have been targeted by phishing scams, so it’s important to always use the official website and never share personal details via email or SMS.
Nexo partners with Ledger Vault and Fireblocks for institutional-grade asset custody and insurance cover
Holds global certifications, including SOC 2 Type 2 and ISO/IEC 27001:2022
Complies with regulations in over 150 jurisdictions, including the UK
Uses secure infrastructure from AWS and Cloudflare, with DDoS protection
Accounts are protected with biometric ID, multi-layer authentication, anti-phishing codes, and AES 256-bit encryption
Does Nexo have KYC and comply with UK regulations?
Yes, Nexo complies with UK regulations and enforces full identity verification for all users:
Registered as a cryptoasset business with the Financial Conduct Authority (FCA)
Resumed UK onboarding in 2024 with new FCA-aligned processes after a brief pause in 2023
Requires all UK users to complete annual Investor Categorisation and Appropriateness Assessments
Enforces full KYC checks before trading, borrowing, or earning interest
Complies with the UK’s implementation of the Travel Rule for crypto transfers
Requires users to provide details about the sender or recipient when sending or receiving crypto
Operates under strict anti-money laundering and financial promotions regulations
Works with Financial Promotions Approver Gateway 21 to meet UK marketing compliance standards
UK regulatory environment
The UK has positioned itself as a globally competitive but highly regulated crypto hub. Oversight is shared primarily between the Financial Conduct Authority (FCA) and HM Treasury, with the FCA enforcing anti-money laundering (AML), financial promotions, and operational controls under the Money Laundering Regulations 2017 and newer rules related to financial promotions and the Travel Rule.
Key regulatory constraints include:
Ban on crypto derivatives for retail investors (Jan 2021)
Ban and exchange-traded notes (ETNs) for retail investors (Jan 2021) Ban might be lifted according to the FCA's June update!
Mandatory registration with the FCA for all cryptoasset businesses offering services to UK residents
Enforcement of the Travel Rule: crypto transfers over €1,000 must include sender and recipient identification
Appropriateness and investor categorisation assessments required for most platforms offering crypto to UK users
Financial Promotions Regime: strict limitations on marketing and product access unless approved by an FCA-authorised entity
These measures aim to limit retail exposure to high-risk products while raising standards for service providers.
Read next: How to buy crypto in the UK
Which crypto exchanges are still operating legally in the UK?
Many global platforms have either adapted to stricter UK regulations or exited the market altogether. As of mid-2025, the following exchanges remain legally operational and FCA-registered for UK retail investors:
Coinbase – FCA-registered and VASP-authorised (since Feb 2025); offers 240+ cryptocurrencies, GBP deposits via Faster Payments, and full KYC and tax reporting features.
Kraken – One of the most heavily regulated exchanges in the UK, holding cryptoasset, e-money, and investment firm permissions; supports 350+ assets and advanced tools via Kraken Pro.
Gemini – FCA-registered since 2020; now aligned with EU MiCA rules via its Malta HQ. Offers ~70 tokens and staking options, with strong UK fiat support.
Crypto.com – Fully FCA-registered since 2022 and EMI-licensed since 2023; enforces robust compliance with identity verification, transaction monitoring, and UK reporting rules.
Revolut – FCA-registered as a cryptoasset firm; offers in-app crypto trading, staking, limit orders, and tax summaries, making it ideal for casual investors.
CoinJar – UK-focused, FCA-registered platform supporting ~60 tokens; offers strong GBP integration, simple UI, and a reliable option for long-term holders.
Uphold – FCA-registered with deep compliance credentials, including SOC 2 and ISO 27001 certifications. Offers multi-asset wallets and seamless GBP support.
Bitstamp – FCA-registered since 2023, with UK operations dating back a decade. Offers 80+ tokens and strong fiat on/off ramps.
Nexo – Not FCA-registered but still operating under UK guidance. Services are restricted and require annual investor assessments. Users should weigh regulatory limitations.
eToro – FCA-regulated multi-asset investment platform offering crypto trading to UK residents. Crypto withdrawals are limited to certain assets, but KYC and reporting tools are fully in place.
Note: Popular global platforms like Binance, Bybit, and OKX have restricted UK retail access or withdrawn entirely following tighter FCA enforcement and financial promotions regulations.
What about OKX and Binance UK?
Several major crypto platforms currently operate in a regulatory grey area in the UK. Exchanges like Binance and OKX continue to offer limited access to British users but are not FCA-registered as cryptoasset firms. While they comply with some UK guidance, such as requiring appropriateness assessments and investor declarations, they lack full authorisation to promote or offer crypto services under UK financial promotion rules. This creates uncertainty for UK crypto investors, as these platforms technically fall outside the FCA’s direct oversight, and their status could change quickly with further enforcement.
Binance
Binance is not FCA-registered and suspended new UK user onboarding in October 2023 after its promotions partner lost approval. While existing users retain limited access, Binance cannot legally offer or promote crypto services in the UK.
👉 Alternative: For broad asset access, low fees, and on-chain staking, try Kraken (FCA-registered, supports 350+ assets and staking with compliance).
OKX
OKX is unregistered in the UK and has restricted features like margin trading, futures, and perpetuals for UK users. While some spot trading remains available, the platform operates without FCA approval.
👉 Alternative: Gemini ActiveTrader offers lower fees for high-volume traders, while Kraken Pro supports advanced orders and staking, all under UK regulatory oversight.
Bybit
Bybit exited the UK market in late 2023 due to FCA restrictions. Though technically accessible via VPN or without geoblocking, it is not authorised to serve UK residents.
👉 Alternative: For yield products and a smooth user interface, Crypto.com offers FCA-compliant staking and interest-earning features on supported assets.
KuCoin
KuCoin is not FCA-registered and continues to operate without meeting UK financial promotion or AML requirements. Product access may be inconsistent or restricted over time.
👉 Alternative: Bitstamp offers 80+ assets and regulated GBP trading with strong fiat support, while Uphold provides multi-asset wallets with staking.
Gate.io & MEXC
Neither platform is FCA-registered. While some services appear accessible to UK users, they lack the required legal standing to market or offer crypto under UK law. Risk disclosures and user protections are not guaranteed.
👉 Alternative: For a simple, UK-registered exchange that supports GBP funding and casual trading, try CoinJar, or use Revolut for in-app staking and automated reports.
In summary, these platforms may still be technically accessible to UK users, but they are not authorised to legally offer or promote cryptoasset services in the UK. Investors using them do so without the protections afforded by FCA oversight and may face sudden service restrictions or legal risk. For greater regulatory clarity and consumer safeguards, FCA-registered platforms like Coinbase, Kraken, Gemini, and Crypto.com remain the safer choice for now.
Don't forget the tax bill...
Regardless of the exchange you've used, HMRC is very clear gains and income from crypto are taxable. Use a crypto tax calculator to figure out your tax liability or learn more in our UK crypto tax guide.
FAQs
What's the best Bitcoin exchange in the UK?
You can buy, trade, and sell Bitcoin on practically every UK crypto exchange including Coinbase, Nexo, Kraken, and more.
What's the best digital currency exchange in the UK?
Some of the best digital currency exchanges in the UK to research include Coinbase, Kraken, and Nexo.
What are the upcoming HMRC Reporting Rules from 2026?
Upcoming HMRC reporting rules from 2026
Starting January 1, 2026, UK-based crypto platforms, and any foreign platforms servicing UK users, will be required to collect and report detailed user and transaction data under the OECD’s Crypto-Asset Reporting Framework (CARF). This move is part of the UK government’s broader effort to tighten tax compliance in the digital asset space and increase transparency. Individuals will need to provide their full name, date of birth, address, country of residence, and National Insurance number, while businesses must submit legal names, company addresses, and tax identification details. Additionally, platforms will need to report the type, quantity, and value of crypto assets involved in each transaction, as well as whether the transaction was a trade, transfer, or payment. Failure to comply with these requirements; either as a user or a platform, could result in fines of £300 per incident, with further penalties for continued non-compliance. Platforms must begin collecting this data in 2026, register with HMRC by January 2027, and submit their first reports by May 31, 2027. Although these new rules don’t introduce new taxes, they give HMRC a powerful mechanism to cross-check self-reported gains and uncover undeclared income, especially from staking, lending, and high-frequency trading. With crypto tax revenue expected to grow significantly, UK investors are strongly encouraged to begin organizing their transaction records now and ensure all past gains are accurately declared to avoid potential scrutiny or penalties.
