If you too have found your interest peaked by the investment opportunities crypto might provide, then we at Betting.co.uk have all the information you need to choose the right trading platform.
Let’s be honest: Cryptocurrencies are far from straightforward: something something decentralised, something something replacement for fiat, something something utterly incomprehensible. It’s therefore no surprise that, to most people, the idea of cryptocurrency trading is also confusing — not to mention rather concerning.
After all, with all the stories of the great height crypto has been able to reach, there’s also a not-insignificant amount of market volatility to contend with, along with a huge learning process to go through too. No, crypto currency investing isn’t easy, which is why you need to know the trading platform you choose can meet (if not outright exceed) your expectations.
We’re here to help you achieve the above goal and find a trading platform that suits your level of experience and delivers on your expectations. Our comprehensive reviews cover everything there is to know about a platform, so you can sign up knowing exactly what to expect.
What Is Cryptocurrency?
Cryptocurrency is a digital asset that is used as a medium of exchange. Crypto ownership is recorded and tracked on a decentralised ledger. As transactions take place, cryptography is used to secure these transactions, record them, and verify the transfer of coin ownership.
There has been a big move in recent years away from traditional fiat currency by many. More so, the underlying technology (blockchain) is making big advancements on several key areas of innovation. Blockchain is able to facilitate a wide number of different real-world applications and activities. It is able to improve efficiency and effectiveness through secure and transparent operations. Due to the immense potential behind blockchain and the value behind crypto as a whole, many are looking to trade crypto.
Different types of crypto
You’ll find a number of different cryptocurrency coins or tokens that are available online. Below, we’ve briefly outlined several popular cryptocurrencies. Keep in mind that Bitcoin is the ‘father’ figure of all cryptocurrencies. When people refer to altcoins, they are referring to alternative coins to Bitcoin.
Bitcoin and Bitcoin Cash: We all know about Bitcoin. However, Bitcoin Cash was introduced in 2017 and has a larger block size than Bitcoin. Ultimately, this means that transaction speeds are far higher.
Litecoin: This altcoin is now being mentioned alongside Bitcoin and has been around for a decade. You’ll find lower transactions fees, dedicated miners, and faster processing times when you use Bitcoin.
Ethereum: Ether is the native token of Ethereum. Ethereum is more focused on the development of practical applications rather than the coin itself. It’s an exciting prospect and one that Ethereum continues to drive.
Ripple: This is a crypto that is not blockchain-based and focuses more on payment processing than anything. Using Ripple, companies can transfer large amounts of currency across the globe; be it fiat or cryptocurrency.
Crypto Trading In The UK
Crypto trading in the UK has experienced a massive surge in interest and overall demand. There are a number of top crypto trading sites that have moved to supply services to the general public. These services include allowing traders to buy, sell, and exchange crypto. It’s possible to use a number of different platforms to engage in crypto trading. You can use crypto exchanges (many of which are peer-to-peer) that allow you to directly buy and sell crypto. This enables you to purchase crypto and hold it for future use or sell it in the short run. It is also possible to make use of more traditional broker platforms. These broker platforms will not always enable you to buy the underlying crypto asset. However, you are able to trade crypto CFDs. If you are interested in trading crypto without buying it outright, we have a comprehensive guide where we compare stock broker sites.
Crypto trading in the UK is legal and has undergone several regulatory changes in the past. With the acceptance of crypto on a wider scale, regulatory agencies are now looking to ensure that crypto trading sites adhere to the same laws that apply to traditional trading platforms. In our following section, we’ve outlined
Assessing Crypto Trading Sites
When it comes to our broker reviews, our team at Betting.co.uk Finance have managed to come up with an ingenious assessment tool. We apply this to all trading platforms and it enables us to create unbiased, objective crypto trading reviews. Below, we’ve outlined a number of facets that we assess through our crypto trading reviews. Here, you’ll be able to see how well one particular crypto trading platform UK performs in all facets. It’s also possible to identify which platforms ticks the boxes you deem most important
Crypto trading options
Our first port of call will be to identify which type of cryptocurrencies you’ll be able to trade with. Before you are able to visit the best crypto betting sites, you’ll need to buy crypto. It is safe to assume that the top crypto trading platform UK will include Bitcoin to its list – a common practice across the board. However, what about altcoins? We’ll highlight what else you’ll have access to; Litecoin, Ethereum, Cardano, Bitcoin Cash, and Stellar are popular altcoins that are prevalent on various crypto trading platforms. You can judge which platform caters to your crypto interests.
Jurisdiction and limits
We’ll assess the reach of each platform through our crypto trading reviews. You’ll know which geographic areas the platforms are able to provide services in and which markets you’ll have access to. If you are looking for a small-scale platform or a platform that has global reach, use this section to identify the platform that you would like to sign up with.
Usability and feel
First impressions last a relatively long time. We shouldn’t base our entire opinion solely on this. However, our team is always keen to find out what impression the official website and trading platform is able to muster up at first glance. Thus, we’ll take a look at the design and look of the site. This includes assessing the layout and navigational qualities – all of which facilitates a streamlined and enjoyable trading experience. We’ll also test the actual functionality of the platform. This extends to performance and assessing how flexible and robust the underlying tools and features are.
Before you fund your crypto betting account, you’ll need to buy crypto. Before you buy crypto, you’ll need to fund your trading account. This needs to be done using fiat currency. Thus, our crypto trading reviews look into the payment options on hand and whether these options act as a catalyst or deterrence to your trading activities. The best platforms will have fast payment processing capabilities via secure payment solutions. We’ll highlight what you can expect to have at your disposal and whether you’ll incur any additional fees.
Be it a crypto betting site or a crypto trading platform, one thing is certain; customer support is vital. Our team will put the customer support to the test and outline precisely how you can go about getting in touch with your chosen online platform. You are bound to experience some sort of issue along the way. This is unavoidable when you use an online site. It may just be a general query or something slightly more serious. Either way, you’ll be much better off with the backing of an intuitive and effective support system.
License and security
Before you sign up to any trading platform, it’s necessary to find out whether the online broker is licensed. The UK has stringent regulations in place that prohibit online companies from taking advantage of customers. As such, licensed and regulated platforms must act in good faith and adhere to all regulations and guidelines. Making use of a licensed platform is the best way to go.
We also assess the overall security of the platform through our crypto trading reviews. No matter if you are opening a stocks trading account or a crypto betting account, the underlying platform must be secure. This will ensure that all your data and finances are protected and secured.
The Best Crypto Trading Platform UK
Keep in mind that you might be looking for a crypto trading exchange or a crypto trading platform. Thus it’s important to understand what you really wish to use before you sign up with an online crypto platform. There are a number of crypto trading platforms in the UK that are worthy contenders for the title of the best crypto trading platform. However, there can only be one winner!
Our recommendation is in line with a crypto trading platform that also includes a number of other trading products (traditional investment instruments). eToro is top of our list as they provide you with an easy-to-use platform and mobile app. You’ll have access to a variety of different cryptocurrencies and have the option of trading in other assets.
One app that stands out to us in particular in the world of Bitcoin apps is Zeply. Why not check out our dedicated Zeply review for more information.
The Best Crypto Betting Sites
Now that you have a better idea of how to go about crypto trading, we’d thought it a good idea to include a section of crypto betting sites. There is a lot of interest surrounding crypto betting. Nowadays, many betting sites have moved to include crypto payments as an accepted form of funding your betting account. This allows you to use your crypto holdings to make payments and withdrawals without having to use a traditional institution or online payment solution. If you prefer making transactions using crypto, then we suggest you visit Betting.co.uk Finance to find out which crypto betting site is best for you. Although we are always looking to recommend one or two to you, it’s best to combine our recommendations with your own set of criteria to find the best crypto betting site for you!
Tips For Crypto Trading
When it comes to crypto trading, there are certain tips that you can apply. These specifically apply to newcomers and will help you analyse and approach your trades with a strategic outlook. We urge you to take the time to read up more about the best crypto trading platform UK and best to utilise all the trading tools and data that is provided to you. From here, you’ll be able to take advantage of an exciting, yet volatile, market. Below, we’ve highlighted three tips that you can take away with you and put into practice.
Diversify your crypto holdings
When it comes to buying crypto, as is the case with all types of investment instruments, it is wise to diversify your holdings. Many newcomers are set to buy into Bitcoin and tend to forget about the availability of altcoins. Although Bitcoin garners a loyal following, it is still a volatile asset. Thus, it’s important to keep this in mind before you put all your eggs in one basket. Our crypto trading reviews will outline which platforms offer multiple crypto options. From here, you decide which cryptocurrencies appeal to you and diversify your crypto assets.
Understand the analysis of entry and exit
This is a vital tip and one you shouldn’t take lightly. There are several analyses that you need to fully understand as you start trading crypto. As we’ve underlined, crypto can be volatile. Thus, you’ll need to equip yourself with the ability to analyse various factors and apply your analysis whenever necessary. Technical and fundamental analysis as well as risk management is of great importance. Technical analysis enables you to understand entry and exit points while fundamental analysis outlines the reasons for price movements. Risk management, as the name suggests, is needed to limit or mitigate the risk of trading. Using these three approaches will give you the skills to better assess and execute trades.
Always choose a transparent crypto trading platform UK
First off, make sure you use a reliable and licensed crypto trading platform UK. However, there’s more to it than that. As we are always eager to tell you, it’s important to make use of the right crypto trading platform UK. What is right for one person might not be right for you. As such, you need to use our crypto trading reviews to find the platform that suits your crypto interests and trading preferences. If you prefer low fees as opposed to a dynamic mobile trading app, then you need to apply this to your search. We always suggest you draw up a criteria so that you know what you are looking for.
Conclusion – Ready To Start Crypto Trading?
We hope that you have found our guide to the best crypto trading platform UK to be insightful. It is our wish that guides such as these will help you navigate the online trading industry with supreme confidence. Crypto trading continues to rise in popularity and as such, more and more crypto trading sites are emerging. Secondly, you’ll find that it is possible to enjoy cryptocurrency betting in the UK. There are a number of prominent operators that accept cryptocurrency as a form of payment. This streamlines your funding process and enables you to start gambling as soon as possible.
If you’re looking for other suitable guides that may be of use, we recommend you take a look at our recommendation of the best online broker and how to capitalise on commission free stock trading UK.
Crypto Trading Reviews FAQ
🔮What is crypto?
Crypto has come to the fore in recent years and is short for cryptocurrency. Crypto refers to a digital asset which is designed to act as a medium of exchange. There are several characteristics that formally define crypto. In our latest crypto guide and crypto trading reviews, we’ll outline precisely what crypto is and where you can engage in crypto trading.
❓How many cryptocurrencies are there?
There are a number of different cryptocurrencies in circulation, so to speak. With the growth in blockchain technology and the gradual adoption of crypto into mainstream sectors of society, it is no surprise that there are a number of different cryptocurrencies. In addition to Bitcoin, there are numerous altcoins. We’ll outline some of the most popular altcoins in our trading guides and latest coverage of the best crypto trading platform UK.
🔆What’s the best crypto trading platform UK?
You’ll find there are a number of different crypto trading sites in the UK. On these sites, you can trade crypto as you see fit. However, it’s important to ensure that you use reliable crypto trading sites. This will ensure that you do not open yourself up to unnecessary risk. At Betting.co.uk Finance we’ve outlined the best crypto trading platform UK for your convenience.
✅Are crypto trading sites legal?
In the past, there has been a lot of scepticism surrounding crypto and the industry at large. Cryptocurrencies operated on the fringes of society. But, this has changed significantly. The perception of crypto and the best crypto betting sites is far more favourable. Thus, it is not illegal to buy crypto. You can trade and bet crypto via a reliable crypto trading platform UK.
💰Is crypto betting profitable?
Crypto betting is the activity of using your cryptocurrency to fund a betting account. It’s no different to using fiat currency to do the same things. Ultimately, it’s no more or less profitable. Your success lies in your ability to wager successful bets. You need to approach your betting endeavours in the same manner. More and more betting sites accept crypto as a form of payment. This enables you to make payments using crypto and there’s no need to link your betting account to your bank account.