The Best Crypto Exchange in UK
In the UK, it's relatively easy to buy and sell cryptocurrencies through the many available crypto exchanges. In fact, in the UK, we have about 38 crypto exchanges, all with varying fees, limits, and reputations.
The many UK exchanges make it easy for both new and seasoned investors to sell, buy, and trade Bitcoin, among other cryptocurrencies. But which one among these exchanges is the best crypto exchange in the UK? Well, in this article, we will cover Binance, the best crypto exchange in the UK. So, let's get into it!
What is Binance?
Binance has become the largest crypto exchange globally in recent months. And although it's based in China, it is serving the UK with 'Binance JE,' which now operates in the United Kingdom.
With Binance Jersey, you get low fees, good support, incredible security, fast transactions, and a wide array of cryptocurrencies. Binance has excellent exchange rates and various options to fund your accounts, such as credit card, wire transfer, and bank transfer.
Unique Features of Binance
- High volume trading
- Two-factor authentication for account security
- ICO launchpad
- Low trading fees
- More than 150 cryptocurrencies available to trade
Binance Fees and Limits
Binance has a serious edge over its competitors since it has managed to minimize its users' fees. In that, Binance charges a flat rate of 0.1% for trading fees, which is not an expected rate in the exchange industry. Some companies charge almost twice the amount or even more. That means, if you plan on trading in high volumes on Binance, you are at an advantage. As many other crypto exchanges, Binance evaluates the trading fees based on the trading volume of its users over the previous 30 days. Also, any time a trader uses the Binance Coin, they get an automatic 25% off their trade fees.
Pros
- A bright and breezy interface that's relatively easy to use
- A wide range of altcoin options
- Incredible payment limits for the experienced traders
- Binance is a well-known crypto exchange
Cons
- Logs personal data such as IP addresses
- No option for fiat deposits
- Lengthy delays by the customer support team
Is Binance a Safe Cryptocurrency Exchange?
When things come down to data protection and safe trading, Binance is your best bet at top priority user security. Binance incorporates practical security features in every aspect of their system. After creating your account on Binance, you need to undergo account verification to gain level 2 access, which allows an up to 100BTC withdrawal limit.
This verification process prevents money launders and scammers from working through the Binance exchange services. You will be verified to start trading once you pass the KYC check, and the provided photo ID is verified. What's more Binance uses a two-factor authentication that ensures your data, account, and financial assets remain safe.
In Summary
Binance has taken the crypto realm by storm since its launch in 2017. Their robust security systems and commitment to their users put Binance on top of their game. Also, Binance has fair fees, a convenient app, and a helpful team of customer support.