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Binance is the world’s largest crypto exchange, but UK investors have been shut out of most of it since 2023. New UK users cannot open an account, and existing users lost access to products such as Binance Earn and staking.
Below we explain what happened, whether Binance can return under the new UK crypto rules and which FCA-registered platforms you can use instead.
Is Binance authorised in the UK?
The short answer is no. Binance is not authorised or registered by the Financial Conduct Authority (FCA) to offer crypto services in the UK. Existing UK customers can still use part of the platform, but nobody new can sign up.
This is how it happened:
- June 2021: the FCA said that Binance Markets Limited, the UK arm of Binance, was not permitted to carry out any regulated activity in the UK.
- March 2023: Binance stopped accepting new subscriptions to its Earn products in the UK, including Simple Earn, ETH staking, BNB Vault and Liquidity Farming.
- 8 October 2023: the FCA’s new rules for crypto promotions came into force. Firms that are not registered with the FCA can only promote crypto in the UK if an FCA-authorised firm approves their adverts. Binance chose Rebuildingsociety.com for that role.
- 10 October 2023: the FCA restricted Rebuildingsociety.com from approving crypto promotions.
- 16 October 2023: Binance stopped accepting new UK users from 5pm UK time.
Existing UK users kept their current services, as long as they completed Binance’s Investor Declaration and Appropriateness Test. However, no new products or services are offered to them.
When will Binance be available in the UK?
There is no date yet. Binance has not reopened to new UK users since October 2023.
The UK is now moving to a full licensing regime for crypto firms. The FCA opened applications for authorisation on 30 September 2026, and the new regime comes into force on 25 October 2027. From that date, any firm that runs a crypto exchange, holds crypto for clients or offers staking to UK customers needs FCA authorisation. Firms that want to be ready on day one must apply by 28 February 2027.
In August 2026, press reports said Binance plans to apply for an FCA licence under the new rules and relaunch some services in 2027. Binance has not confirmed this. Until the FCA approves an application, Binance cannot take on new UK customers.
Binance UK alternatives for 2026
The good news is that several well-known platforms are registered with the FCA and accept new UK customers. We picked three of them:
| Platform | Crypto fee | Best for |
| eToro | 1% to buy or sell | Beginners and copy trading |
| Revolut | 1.49% (Standard and Plus), 0.99% (Premium and Metal) | Crypto in your everyday banking app |
| Coinbase | Shown before you trade (£0 with Coinbase One) | Staking and a wide crypto range |
Sources: eToro, Revolut and Coinbase, October 2026.
eToro: best for beginners
76% of retail CFD accounts lose money.
eToro in a nutshell
eToro is a good place to start if you have never bought crypto before. eToro (UK) Ltd is authorised and regulated by the FCA, and the platform lets you buy real cryptoassets such as Bitcoin, Ether and XRP alongside shares and ETFs.
eToro charges a flat 1% fee when you buy or sell crypto. The profit and loss shown in your portfolio already includes the 1% you paid to buy and the 1% you will pay when you sell. If you want to move your coins to the eToro Money crypto wallet, a transfer fee applies.
Why eToro:
- Simple interface for buying crypto, with shares and ETFs in the same account.
- Copy trading lets you follow the portfolios of other eToro investors.
- One flat fee of 1%, so you know the cost before you trade.
Revolut: best for crypto in your banking app
Revolut in a nutshell
Revolut lets you buy, sell, hold and stake crypto in the same app you use for everyday payments. Revolut Ltd is registered with the FCA to offer cryptocurrency services.
The fee depends on your plan. It is 1.49% on Standard and Plus and 0.99% on Premium and Metal, with a minimum fee on trades under £200. Ultra starts at 0.49% and falls with your monthly volume. On Standard and Plus, crypto exchanges also count towards your monthly fair usage limit.
Active traders can use Revolut X, Revolut’s crypto exchange, where maker orders cost 0% and taker orders 0.09%. Withdrawing crypto to an external wallet costs a £1 or £3 service fee plus the network fee.
Why Revolut:
- Crypto, card payments and savings in one app.
- Low fees on Revolut X for more active traders.
- Staking on selected coins, with Revolut keeping between 0% and 50% of the rewards depending on the asset.
Coinbase: best for staking
Coinbase in a nutshell
Coinbase is the closest UK alternative to Binance Earn. On its UK site, you can stake 7 assets, including Ethereum, Solana, Cardano and Polkadot, starting from £1.
The rates change with each blockchain. In October 2026, Coinbase showed estimated rates from 1.35% a year on Cardano to 12.89% on Cosmos, with Ethereum at 1.70%. Coinbase keeps a commission on the rewards, and the rate shown already reflects it. Coinbase One members also earn 3.75% a year in rewards on USDC.
Staking has its own risks. You can ask to unstake at any time, but you cannot sell or send the coins until unstaking ends, which can take from a few minutes to several weeks. Rewards are not guaranteed, and a validator failure can cost part of the staked coins.
Coinbase is easy to use for beginners and also offers Coinbase Advanced for more experienced traders. A Coinbase One membership removes trading fees and boosts staking rewards.
Why Coinbase:
- Staking on 7 assets for UK users, from £1.
- No trading fees with a Coinbase One membership.
- Simple app plus Coinbase Advanced for active traders.
Conclusion
Is Binance allowed to operate in the UK? No. Existing users can still trade on it, but new users cannot sign up and Earn products are closed. Binance may apply for a licence under the new FCA regime, which starts on 25 October 2027, but there is no confirmed date for a return.
Until then, FCA-registered platforms are the safer choice. eToro suits beginners with a flat 1% fee. Revolut works best if you want crypto inside your banking app, from 0.99% on paid plans. Coinbase is the closest match to Binance Earn, with staking on 7 assets.
FAQs
Can UK users stake on Binance?
No. Binance stopped new subscriptions to its Earn products, including staking, for UK users in March 2023. If you want to stake from the UK, platforms such as Coinbase and Revolut offer it on selected coins.
Can I open a Binance account in the UK?
No. Binance stopped accepting new UK users on 16 October 2023, after the FCA restricted the firm that approved its UK adverts. It has not reopened since.
What services are still available to UK users on Binance?
Existing UK users who completed the Investor Declaration and Appropriateness Test kept their services. Binance’s UK website lists spot trading, Convert, card purchases and peer-to-peer (P2P) trading. New products are not offered to UK users.
Is my crypto protected if a platform fails?
Usually not. Cryptoassets are not covered by the Financial Services Compensation Scheme (FSCS), and you cannot generally complain to the Financial Ombudsman Service about them. This is why the FCA requires the risk warning at the top of this page on every crypto promotion.
Why is the UK regulating crypto platforms?
The UK wants crypto firms to meet similar standards to other financial firms. Under the new regime, which starts on 25 October 2027, crypto exchanges, custodians and staking providers serving UK customers will need FCA authorisation. Firms without it will have to wind down their UK business.