Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
1. You could lose all the money you invest
2. You should not expect to be protected if something goes wrong
3. You may not be able to sell your investment when you want to
4. Cryptoasset investments can be complex
5. Don't put all your eggs in one basket
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
It’s very important to be aware that since January 2021, the Financial Conduct Authority (FCA) has banned cryptocurrency exchanges from selling cryptocurrency derivatives to UK consumers. In 2021, Binance was banned from operating in the UK by the FCA. Whenever a user visits the site, Binance now informs a user about the existing ban. While this doesn’t prevent those in the UK from trading on Binance, customers are currently unable to make deposits via pounds sterling (GBP). The FCA does not regulate cryptocurrency assets such as Bitcoin, but it does require an exchange to be registered with the FCA to operate in the UK.
Binance has the following features:
The following exchanges are probably the closest equivalents to Binance you can find.
If none of the exchanges above has what you’re looking for, you might want to start looking in one of the places below.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
The leading cryptocurrency has set a new all time high above $69,000. Here’s what this means and why it’s happened.
Read more…
Following the SEC’s approval of Bitcoin ETFs in the US, we look at whether the FCA and the UK will follow suit.
Read more…
These awards recognise the crypto providers displaying the best innovations in their field.
Read more…
Crypto.com and Coinbase a large, well-known crypto platforms. See which could be right for you.
Learn more about the Crypto.com platform in our complete review.
In this deep-dive review we look at the trading and investment options available, and assess what type of cryptocurrency investor Binance could suit.
A comprehensive review of Uphold, the cloud-based financial services platform where you can hold, move, convert and transact in fiat currency, cryptocurrency and even commodities.
If you’re looking for a crypto exchange that lets you buy digital coins and tokens with fiat currency, check out our guide to these leading Coinbase alternatives.
Check out our complete review of Coinbase to see if it’s safe, weigh up pros and cons, compare fees and learn what you can do on it beyond simply buying cryptocurrency.
If you’re thinking of buying and selling cryptocurrencies on eToro, make sure you check out our comprehensive eToro review first to understand the pros and cons.
Bitstamp is a global Bitcoin marketplace with a UK branch, offering safety and due diligence for cryptocurrency traders.
Kraken is a reputable Bitcoin and altcoin exchange that is designed with the advanced trader in mind.
Find out how you can benefit from the range of features offered by the CoinJar cryptocurrency exchange.