Dec 15, · IG – Best for Bitcoin Trading IG is one of the oldest and biggest names in the trading industry. It was founded in and the Headquarters are in the UK. IG is best known for Forex and CFD trading, which includes cryptocurrency trading. The best Bitcoin brokers have no restrictions on trading strategies, granting complete freedom on how traders approach Bitcoin. Bitcoin CFD to Hodl Since a Bitcoin CFD does not offer ownership of the physical asset, and daily swap rates on leveraged overnight positions apply, it is not suited to hodl Bitcoin. May 06, · Best Bitcoin Trading Sites: Top Brokers Best Bitcoin Trading Sites: Top Brokers Gino Topini - May 6, » Iscriviti a .
Best bitcoin trading brokers5 Best Bitcoin Brokers for Trading in
Not only do we unravel our top 5 Bitcoin broker picks of , but we also explain why opting for Bitcoin CFDs is the safest, cheapest, and most convenient way of making an investment. Note: The most important metric to look for when searching for a Bitcoin broker is regulation. Ultimately, if the broker is unlicensed, you should avoid it.
A Bitcoin broker is simply an online trading platform that allows you to buy and sell cryptocurrencies. Much like a traditional online stockbroker, the process requires you to open an account, deposit funds, and then decide how much Bitcoin you wish to buy.
In return, Bitcoin brokers will charge you a fee. This can come in a range of shapes and sizes, so your costs will depend on the broker that you use. For example, while popular Bitcoin brokers like Coinbase charge fees to deposit funds and make a purchase — platforms like Crypto Rocket and eToro do not.
With that being said — there are two types of Bitcoin brokers active in the online space — so the one that you opt for will depend on your long-term investment goals. Crucially, this will either be a broker that requires you to store your Bitcoin in a private wallet, or a broker that facilitates your investment via a regulated CFD.
Bitcoin is a decentralized currency — meaning that it is not controlled by any single person or authority. In other words, if your Bitcoin wallet was hacked — or you transferred funds to an invalid address, your Bitcoin would be lost forever. Unlike a traditional investment, you would not be able to pick up the telephone and ask the broker to investigate the loss. Once the coins have been purchased, you will then need to withdraw them to a private wallet.
So that leaves us with option 2 — buying Bitcoin CFDs. For those unaware, a CFD Contract-for-Difference is a financial instrument that allows you to invest in an asset without you taking ownership. Instead, you are simply speculating on whether the price of the asset will go up or down.
Not only does this include assets like Bitcoin, but literally any financial instrument that is traded in the traditional markets. Think along the lines of gold, oil, stocks, indices, gas, wheat, and ETFs. On the one hand, buying a Bitcoin CFD will mean that you do not actually own the underlying asset. However, does that really matter? Essentially, if you are looking to buy Bitcoin because you think its value will increase in the future, then CFDs can facilitate this.
In fact, the benefits of using Bitcoin brokers that specialize in CFDs are four-fold — as we explain below. One of the most popular Bitcoin brokers in the online space is that of Coinbase. The overarching reason for this is that the platform makes it super-easy to buy Bitcoin with an everyday debit or credit card. However, Coinbase charges handsomely for its services. For example, you need to pay 3. These fees are huge in comparison to Bitcoin brokers that specialize in CFDs.
In fact, most of the Bitcoin brokers that we recommend on this page not only allow you to deposit funds for free — but you can trade Bitcoin without paying any commissions. Much of the wider cryptocurrency broker space operates in an unregulated manner. This is mainly due to the fact that very few countries have yet to install crypto-specific legislation — meaning that platforms are able to trade without holding a license.
On the contrary, the CFD broker space is heavily regulated — which means that your funds remain safe at all times. For example, all of the top-rated Bitcoin brokers listed on this page hold a tier-one regulatory license.
For example, you are required to withdraw the coins out of your chosen broker, and then keep them safe in a private wallet. When it comes to offloading your Bitcoin investment, you then need to transfer the coins back into an online broker, and exchange them for cash. This is a highly cumbersome process that is fraught with risk. With that said, by using a Bitcoin broker that specializes in CFDs, you do not need to worry about storage at all.
This is because CFDs merely track the underlying asset — meaning the financial instrument does not exist. As such, there is no fear of your Bitcoin being lost or stolen!
Furthermore, this also makes it a breeze when it comes to cashing your investment out. As your Bitcoin is stored at the broker via a CFD instrument, you simply need to place a sell order to exit your trade.
Unlike a conventional Bitcoin broker, those offering cryptocurrencies in the form of CFDs allow you to apply leverage. For those unaware, this means that you will have the option of trading more than you have in your account. Similarly, CFD brokers hosting cryptocurrencies also allow you to short-sell Bitcoin. This means that you can make gains in the event Bitcoin goes down in value. So now that you know the two types of Bitcoin brokers currently active in the market, we are now going to discuss payments.
After all, you will be buying Bitcoin with real-world money — so you need to think about how you intend getting funds in and out of the broker. Most Bitcoin brokers allow you to deposit and withdraw funds with a range of payment methods. This might include:. As we discussed earlier, the likes of Coinbase charge a whopping 3.
This can include:. This is a commission charged by the broker every time you place a trade. This includes a fee when you buy Bitcoin, as well as when you sell it. If a trading commission is charged, then you will pay a percentage of the amount you wish to buy.
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Available On:. Visit Site. No Commissions or Sneaky Fees. Risk Warning: Users should be aware that all investment markets carry inherent risks, and past performance does not assure future results. Trading of any kind is a high-risk activity, and you could lose more than you initially deposited. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Please be sure you thoroughly understand the risks involved and do not invest money you cannot afford to lose. Your capital is at risk. Advertiser Disclosure: TopBrokers. Trade is an independent professional comparison site funded by referral fees. The compensation TopBrokers. Trade receives is derived from the companies and advertisements featured on the site.
Due to this compensation, we can provide our users with a free comparison tool. Unfortunately we are unable to list every broker or exchange available, however, we do our best to review as many as possible. Our Top Recommended Brokers The pioneer of Social Trading is now offering an exclusive opportunity for investors who want exposure to the most popular cryptocurrencies like Bitcoin, Dash, Ethereum and more.
Demo Account: Yes. Accepts PayPal: Yes. Accepts PayPal: No. How to Get Started in Bitcoin Trading One of the foremost cryptocurrencies out there is Bitcoin, which was founded several years ago and has really taken off. What is Bitcoin? Trade Bitcoin Online Using CFD Services If you are interested in trading because of the opportunity to profit from the incredible volatility of Bitcoin, your best option is to use an online trading platform that allows CFD services. How to buy Bitcoin with Paypal One of the biggest issues today with Bitcoin is the fact that you are unable to purchase it easily.
Benefits of Contracts For Differences CFDs have a lot of flexibility, meaning that they let traders go long betting on a price increase or short betting on a decrease. Drawbacks of Contracts For Differences While CFDs are suitable for experienced traders, they are not an ideal choice for long-term holders.
Bitcoin Broker vs. Bitcoin Exchange Investing in Bitcoin is an excellent opportunity for traders looking to grow long-term accounts and gain returns. Read on to learn more about buying, selling and trading Bitcoin at a cryptocurrency exchange. What is a Bitcoin Exchange? Where are my bitcoins stored? What should you consider when choosing a Bitcoin exchange? Here are a few things to keep in mind before you decide on the right investment opportunity for you: Regulation Use a regulated Bitcoin broker or exchange.
Customer Service Bitcoin trading happens 24 hrs a day online, so customer support should be available at all times. Account Types Your ideal Bitcoin broker should be able to offer multiple account options or provide an element of customizability. Tradeable Assets When selecting a broker Bitcoin, many investors may just focus on the one asset. Fees Buying and selling Bitcoins costs money. Liquidity Because Bitcoin is traded in a market where people are both looking to buy or sell the currency.
Blockchain fees are applicable for sending and receiving. However, eToro does charge a conversion fee of 0. Minimum withdrawal amounts and fees are also imposed for each type of cryptocurrency. The minimum bitcoin withdrawal amount is 0. Kraken - Kraken.
This fee schedule, is more competitive than competitors like Coinbase and Gemini. Kraken Platform. Bittrex - Bittrex. Bittrex Homepage. Gemini- Gemini. Overall, Gemini is the most expensive crypto exchange included in this guide, charging more than five times what other exchanges would charge for the same transaction. Gemini Homepage. Robinhood Robinhood Crypto does not charge a commission for placing crypto trades; however, it generates tiny profits from each order as it is routed. This routing practice, known as payment for order flow PFOF , is also how Robinhood makes money from stock trades.
In their user agreement, Robinhood Crypto states that they may receive activity-based rebates from Crypto exchanges, brokers, and market-makers, among other crypto intermediaries.
Bottom line, since Robinhood is not transparent with its pricing structure, there is a possibility the all-in costs per trade are actually much higher than some competitors. Unfortunately, there is no way to know for certain. Robinhood Crypto.