On which platform to invest in cryptocurrency after the ban of Binance in the UK ?

After several months of success, Binance, one of the largest crypto trading platforms, was banned in the UK. As the Chinese platform is not regulated, the Financial Conduct Authority, the regulatory entity of the Kingdom’s financial sector, had to prohibit the group’s activities. Regular Binance traders will then have to migrate to other platforms to invest in cryptocurrencies. In this article, you will see what are the best alternatives to Binance to trade cryptocurrencies in the UK.

eToro: a generalist broker which is accessible to all categories of traders

eToro is one of the most famous trading platforms in the trading field. It is best known as the easiest broker to use for cryptocurrency trading. eToro is also on the list of the best trading app UK for beginners. The democratization of the trading world is the credo of eToro. That explains why the platform is innovative, ergonomic and very simple to use.

In addition, eToro is a broker who is also known for social trading of which it is the leader. Social trading promotes interaction between investors through the negotiations that can be done on the platform. As a result, users of eToro can interact with each other, share what they know and help each other. Moreover, for beginners, the platform is known for copy trading. This means that novice traders can imitate the best investors in order to increase their chances of making a profit. In short, it is the best stock broker of the moment to invest in cryptocurrency and other financial products.

Coinbase: a broker competing with Binance specialized in cryptocurrency

Coinbase and Binance are the most known leading brokers for cryptocurrency trading in the UK. But now that Binance is no longer usable in Great Britain, Coinbase turns out to be an obvious choice for Bitcoin traders. Even if it is a little more expensive than its counterpart Binance, this broker is reliable, regulated, and has become a very popular platform to sell, buy and trade Bitcoin as well as other cryptocurrencies today.

Coinbase also offers Coinbase pro which is an advanced and professional version of the trading exchange platform. Although it is not free, this version is particularly suitable for beginners and intermediaries for cryptocurrency trading. Coinbase pro users can trade a wide variety of virtual currencies, while being protected on the insurance-backed platform.

On the other hand, it should be noted that Bitcoins stored in a Coinbase wallet are not under the trader’s custody. For example, if you have purchased Bitcoins, withdrawing your funds as soon as possible is advisable to stay safe on a reputable hardware wallet.

Gemini: the most secure cryptocurrency platform

Gemini is a specialized cryptocurrency trading platform that is suitable not only for beginners in crypto trading, but also for those who are very demanding in terms of security. Indeed, the platform is renowned for its many advanced security features designed to protect trust currency and cryptocurrency accounts. Users who want to keep large sums of money will find their happiness by using Gemini. In addition, they can carry out large transactions on a daily basis with the help of the platform.

On the other hand, Gemini only supports Bitcoin and Ethereum. For many cryptocurrency traders, this can act as a drag. So if you want to exchange other virtual currencies other than Bitcoin and Ethereum, it will be more interesting to turn to another exchange site like Coinbase. Also, Gemini users must give a lot of personal information by registering on the site. As it is a platform with a very high level of security, requiring a lot of information from users is normal. However, this is a detail that may restrain some traders.

In addition, the fees on Gemini are also quite low, which is an extra reason why to choose this broker. The platform is also renowned for its high-level professional service and excellent customer support. Gemini users can also read articles on their blog to learn and learn new things about cryptocurrency trading. Otherwise, the FAQ is also handy for traders who need answers to their question.

Conclusion

To conclude, now you know the best platforms since the ban of Binance in the UK. Do not hesitate to consult the reviews about these cryptocurrency brokers to find out the best platform that suits your needs. But if you want to use other than these brokers to trade virtual currencies, always choose those which are regulated for your security. This will allow you to do cryptocurrency trading not only serenely, but also avoid the problem encountered with Binance. Despite being interesting on many points, Binance was not regulated. As a result, Binance did not meet FCA standards, leading to the closure of many crypto trading accounts. So, taking into account this detail, you can trade freely, but also in complete trust.