Winner: KrakenKraken provides UK residents with low-cost access to 210+ cryptos, staking and an NFT marketplace via its app and desktop exchange. |
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Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
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.
The Finder Crypto Trading Platform Awards program recognises the best platforms for investing in crypto in the UK for 2023.
Finder’s cryptocurrency experts and data scientists crunched the numbers and scored crypto trading platforms on a comprehensive list of 61 criteria across 17 platforms.
The platform with the highest score in each category was named the winner, with the products that scored second- and third-highest each receiving a “Highly commended” award. Here are the winners for 2023.
Best crypto trading platform – overall
This award was given to the platform that had the highest average score across each of the 61 criteria.
Highly commended: Crypto.comUse the Crypto.com app to instantly buy and sell 270+ assets, earn rewards or spend with the Crypto.com debit card. |
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Highly commended: GeminiGemini gives UK residents access to simple and advanced trading modes, an NFT marketplace, staking and an insured wallet. |
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Best crypto trading platform – value
This award evaluates platforms based on their fees, with a focus on spot market and instant purchase fees. It also takes into account payment methods and the number of coins available to determine which platforms offer the most bang for buck.
Winner: CoinJarWith zero deposit fees and trading fees starting at just 0.1%, CoinJar provides excellent value without cutting corners. |
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Highly commended: UpholdUphold provides more than great value trading; its sleek platform is easy to use and is well-suited to beginners. |
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Highly commended: KrakenKraken users enjoy some of the lowest spot market fees in the UK alongside a vast range of market pairs and deep liquidity. |
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Best crypto trading platform – beginners
This award recognises brands that provide a beginner-friendly user experience. It upweights factors such as customer service, value for money, and access to instant purchase features.
Winner: eToroeToro supports beginners by putting them in touch with other users via its social media feed, copy-trading features and a library of educational material. |
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Highly commended: RevolutRevolut provides a smooth introduction to cryptocurrency with all the bells and whistles we’ve come to expect from the investing super app. |
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Highly commended: KrakenKraken is increasingly adding features for beginners, such as a simplified trading interface and learning modules for each coin. |
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Best crypto trading platform – instant purchases
This award highlights platforms that provide a comprehensive instant purchase experience with an emphasis on value for money.
Winner: eToroeToro continues to simplify investing in the UK with instant purchase fees of only 1% across 70+ cryptos. |
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Highly commended: Crypto.comCrypto.com has 270+ cryptos which can be purchased instantly using bank transfer, credit or debit card. |
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Highly commended: UpholdUphold offers instant buying and selling of 250+ cryptocurrencies with bank transfer, credit or debit card. |
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Best crypto trading platform – altcoins
This award focuses heavily on the number of coins and tokens available on the platform, in addition to liquidity and trading pairs.
Winner: Crypto.comCrypto.com offers 270+ coins to UK users which can be purchased instantly via its mobile app or traded on the desktop exchange. |
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Highly commended: KrakenKraken offers 210+ cryptocurrencies for trading with deep liquidity and high volume. |
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Highly commended: GeminiGemini users can find 130+ coins for trading as well as an NFT marketplace. |
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Best crypto trading platform – extra features
This award recognises crypto platforms that offer a diverse range of products beyond the standard trading experience, such as NFTs, earning rewards and debit cards.
Winner: Crypto.comThe Crypto.com ecosystem gives UK users access to NFTs, earning rewards and Web3 services, as well as a debit card for spending. |
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Highly commended: KrakenKraken’s features previously focused on experienced traders, but newer features such as earning and NFTs appeal to more users than ever before. |
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Highly commended: GeminiGemini strives to ensure a secure and compliant environment for trading, staking, NFTs and managing your portfolio in its native wallet. |
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Best crypto trading platform – advanced trading
This award takes into account advanced trading features such as order types and charting tools as well as regulatory compliance, liquidity and fees.
Winner: KrakenKraken’s Pro interface provides traders with hundreds of trading pairs, supported by rich charting tools and advanced order types tailored for crypto markets. |
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Highly commended: CoinJarCoinJar lets you trade 50+ cryptocurrencies with fees starting from 0.1% that decrease the more you trade each month. |
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Highly commended: GeminiGemini’s ActiveTrader platform delivers a professional experience for UK traders with competitive fees. |
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Awards criteria
Here’s how our expert analysts assessed the United Kingdom’s crypto trading platforms to pick the 2023 winner.
Selection criteria
We conducted an extensive review of the cryptocurrency market in the UK in late 2022.
We attempted to include all of the platforms that are registered to operate in the UK, provided they met the requirements set by the Financial Conduct Authority (FCA) to serve UK residents. We then refined this list by applying Finder’s due diligence procedures.
The result was 17 cryptocurrency exchanges and brokers who were then measured across 61 individual criteria.
The award for “Best Crypto Trading Platform – Overall” was given to the product that had the highest overall score across all 61 criteria.
All other categories were assessed using different combinations of criteria and weightings which depended on the category. For instance, the Value award upweighted scores based on fee data, and omitted criteria relating to advanced trading products.
For more details on the specific weightings used in each category, read our full methodology.
2022 winners
2023 marks the second consecutive year of Finder’s Crypto Trading Platform Awards.
The 2023 program builds on our previous analysis, taking into consideration even more data points and evaluating a larger number of platforms.
Take a look at the 2022 Finder Crypto Exchange Award winners.
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.
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