Crypto trading broker, crypto trading broker.

Crypto trading broker


  • User-friendly platform
  • Good financial backing


Fxdailyreport.Com


Crypto trading broker, crypto trading broker.


Over the last few years, cryptocurrency trading has become one of the most attractive niches in forex trading.

New forex bonuses


Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.

Other than it being extremely profitable, the lack of regulation is its biggest appeal. Still, cryptocurrencies like bitcoin, ethereum ripple, dash, and litecoin are dynamic, unstable instruments that need to be handled cautiously and in the most optimal way. To achieve this, you need to choose a trustworthy, well-established broker to carry out your cryptocurrency trading.


This is crucial to getting on the right track from the beginning when trading cryptocurrencies. When choosing a broker, it is important to note that not all are the same. A broker that meets the needs of another trader may not meet yours. Here are a few tips to help you choose the best forex broker for cryptocurrency trading:



  • Regulation and reputation



To avoid dealing with an unprofessional broker and being scammed, you need to make sure all your crypto trades are made solely with a regulated broker. When choosing a forex broker to work with, make sure they are regulated within your jurisdiction to legally offer you their services. Regulated forex brokers are under constant supervision of the regulatory body. If you are in the UK, make sure to trade with a broker that is regulated by the FCA. If in europe, ensure they are regulated by the cysec. In case you are in australia, they should be regulated by the ASIC.



  • An efficient trading platform



It is important to note that cryptocurrency trading is more volatile than forex. Therefore, it demands that the platform is superbly responsive to be able to make moves in time. A good broker’s platform should be efficient to use. To beat the competition, the best cryptocurrency brokers work to attract clients by creating an intuitive trading platform that is suitable for both experienced and new traders. They offer technical analysis tools and basic risk management features like take profit or stop loss. Other sites also offer additional features, including price alerts, social trading networks or advanced educational centers. The crypto trading platform should allow you to trade in the market manage your accounts, perform technical analysis, and receive the latest news on all cryptocurrencies.



brokerinfobonusopen account
min deposit: $5
spread: from 0.2 pips
leverage: 500:1
regulation: FSA (saint vincent and the grenadines), cysec
50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.Visit broker
min deposit: $1
spread: from 0 pips
leverage: 3000:1
regulation: cysec, IFSC
$100 no-deposit bonus, 100% deposit bonusvisit broker
min deposit: 0
spread: non-spread, fee 0.1% per trade
leverage: non-leverage
regulation: -
visit broker
min deposit: $1
spread: from 0 pips
leverage: 2000:1
regulation: FCA UK, cysec, FSP, bafin, CRFIN
35% of the account depositvisit broker
Crypto trading broker, crypto trading broker.
min deposit: $100
spread: starting 0 pips
leverage: up to 400:1
regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
visit broker
min deposit: $300
spread: floating, from 0 pips
leverage: 500:1
regulation: FCA UK reference number 579202
visit broker
min deposit: $200
spread: starting 0 pips
leverage: 500:1
regulation: ASIC australia, FCA UK
visit broker
Crypto trading broker, crypto trading broker.
min deposit: no minimum deposit
spread: 1.2 pips
leverage: 50:1
regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC
visit broker
min deposit: $10
spread:
leverage:
regulation: cysec
-visit broker
Crypto trading broker, crypto trading broker.
min deposit: $200
spread: from 3 pips
leverage: 400:1
regulation: NFA, FCA, cysec
visit broker

  • Transparent fees and commissions


All brokers, whether trading crypto coins or forex, charge commissions and offer margin accounts to traders. A reliable forex broker for crypto coins should inform you precisely the type of fees and commissions they charge as well as the risks involved. The common fees and charges made by brokers include:


• wallet fees
• transaction fees
• trading fees



  • Competitive technology



Crypto trading broker, crypto trading broker.


The last thing you want as a crypto trader is to get margin called simply because you could not log in to close an order. The cryptocurrency trading market is a 24/7 global market. The prices keep moving and are not limited to your time zone. Hence, when choosing a broker, you need to choose one whose platform offers full-time access.


For instance, when trading cryptocurrencies, mobile apps are a necessity as you may need to make or break deal-critical decisions throughout the day. If possible, consider using a reputable broker with a mobile app so that you are able to make successful trading decisions even while in transit.



  • Access to crowd wisdom



Today, there are some broker platforms that let you leverage the wisdom of seasoned cryptocurrency traders. This feature can go a long way in improving your returns on investment. Such a trading platform lets you observe the hottest trading trends of other seasoned and successful traders in the market.


Digital currencies trading keeps growing in popularity by the day. More and more people, be it speculators or beginner traders want to be able to make key decisions on time, every minute. Therefore, they need to have a setup ready as soon as they are verified by a broker. When choosing a cryptocurrency broker to trade with, consider one that can quickly get you started so that you can begin trading with minimal downtime.



  • User-friendly platform



This is one of the most important features to consider when choosing a trading platform to trade with. Digital money trading can be unclear, especially when a technical language is used. Also, because digital money works a little bit differently from any traditional money system. A good broker should be able to understand blockchain and cryptography terms. They should make an effort to explain it in their platform to make it easy to understand by a layman.


They should include clear notifications about the spreads offers, leverage available, deposit methods, the minimum cryptocurrency deposit to trade and the least amount that can be placed in a trade. Make sure you are able to establish all these details before registering with a broker.



  • High-quality customer service



Cryptocurrency trading occurs 24/7. This demands the need for round the clock customer support. Better still, live support is highly preferred over auto attendants taking into consideration the intricacies involved in trading digital currencies.



  • Deposits and withdrawals



Make sure to choose a broker that allows deposits and withdrawals through multiple platforms such as wire transfer, credit/debit card e-payment among others.



  • Good financial backing



A good FX broker for cryptocurrency should have a sound financial backing. This ensures that your digital coins are safe and that the forex broker will not go bankrupt soon after signing up with them.


Cryptocurrency trading is a risky investment. New and fraudulent forex brokers for cryptocurrency trading are emerging every month, launching with crafty marketing campaigns intended to prey on an innocent investor. Therefore, ensure you proceed with caution. Cryptocurrencies are extremely volatile instruments to trade. So, ensure you are in the know of any breaking news, regulatory matters, and rumors which all dictate the market behavior. Above all, make sure you are working with a reputable, reliable and experienced broker.


While it would be easier to point a finger and tell you the best crypto broker, we know and understand that each client has different preferences. Be knowledgeable about all your options and think about how you can spot a broker that is safe now, and in the long-run.



COMPARE THE BEST CRYPTO BROKERS


Updated: 07 january 2021


Etoro


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Strengths


  • Market-leading social trading platform

  • Wide range of cryptocurrencies

  • Authorised and regulated by several leading financial authorities

  • Beginner-friendly features such as copytrader

  • Wide selection of stocks-cfds



Weaknesses


  • High forex spreads - not great for FX traders

  • Only supports one base account currency (USD)

  • $5 withdrawal fee



Cryptology


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Strengths


  • Great cryptocurrency support

  • Transparent fee and pricing structure

  • Great referral programme

  • Competitive pricing structure

  • Solid performance through the browser-based trading platform



Weaknesses


  • No support for financial instruments beyond cryptocurrencies

  • Relatively high withdrawal fees on wire transfers

  • No pro features available



Stormgain


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Strengths


  • Multilingual website

  • Loyalty program and bonuses

  • Security

  • Ability to buy cryptocurrency using bank cards

  • 24/7 customer support



Weaknesses


  • Replenishment of accounts only possible with cryptocurrencies

  • Stormgain is currently not regulated. However, the stormgain legal team provides adequate control

  • Only cryptocurrencies can be withdrawn from the platform



To be deemed the ‘best crypto broker’, a provider must meet several criteria. Whether you already have trading experience or are at the start of your currency trading journey, choosing a broker is an important process. In our cryptocurrency broker comparison, we assess key criteria, such as fees, support and trading offers, and explain what to look for when selecting providers. Beside trading conditions and costs, we also take into account the current situations on the market – in order to identify the right crypto broker for you.


What are the key criteria our traders use when evaluating cryptocurrency brokers


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


To be deemed the best crypto broker here at asktraders, you have to meet and exceed expectations in several different criteria. Whether you already have trading experience or are at the start of your cryptocurrency trading journey, choosing a broker is a necessary and vital process. We assess fundamental criteria which include fees, customer support, and their platform amongst others. We do this to help you understand what to look out for when you are on the hunt for your perfect crypto broker. We also take into account the current situations on the market – to identify the right crypto broker for you.


Whichever cryptocurrency broker you choose, in nearly all instances opening an account is often free of charge. However, brokers find other ways to make their money. They have to make profits as well so many brokers charge fees based on the dealing spread, real-time prices and add-ons for their trading platforms. Some bitcoin brokers may also charge for deposits and withdrawals.


Account types


There are an increasing amount of cryptocurrency brokers that now offer a choice of accounts. These typically include beginner, advanced and VIP accounts. Your deposit amount usually decides the type of account you have however trading volume can also determine your account type. Traders might begin with a starter account and then upgrade to another account, according to either trade volume or increasing your deposit amount.


When comparing the differences between crypto brokers, you should be able to answer the following questions: what services do I get with each account? How do accounts differ? Are there any business offers?


Crypto trading broker, crypto trading broker.


Platforms


When looking for a broker, one of the most crucial aspects you need to analyse is the platform as it can be a critical factor in determining your trading success. The best crypto trading platforms will have an intuitive and easy to use interface, where the charting is smooth and indicators are easy to find.


Specially developed software solutions are often available as well as existing platforms such as metatrader 4. A customisable interface is particularly advantageous. The focus should be on technical indicators and the trading systems offered when analysing the platform. Technical indicators will become vital as you build your profitable trading strategy. The better the platform and the more support it offers, the better you can focus on actual trading.


One last point to mention in this section is looking at opportunities to trade on the move. It has become a must-have feature – one that allows for flexible use at any time — all of the best crypto trading platforms have well-designed apps that make it easy to trade from your phone or tablet. When researching the app, you should focus on the charting and ability to enter and exit trades.


Usability


When looking at the crypto broker’s website, you should first check that it is available in a language you can understand – sometimes, this is only obvious upon second glance. In most cases, the broker will have an english language site, but it will often be possible to set the language to your preference. Make sure that the translation is complete and all aspects of the website are easy to understand.


A vital component of the website is navigation – it should be organised and guide you through swiftly. ‘one-click’ navigation is a particularly popular feature, as it allows you to find everything immediately. The website will need to provide you with easy access to information such as contact options, cost models and fees, offers, account types and terms of service. Other general information about the broker and an FAQ section may also be helpful.


Crypto trading broker, crypto trading broker.


CUSTOMER SUPPORT


Trading can be a problematic endeavour and issues can arise, especially with a new asset class like cryptocurrency. There is great value to be had in having a fantastic customer support team, so at asktraders we place particular importance on this part of our broker analysis.


Many top crypto brokers provide a live chat option, and you can usually reach customer support via hotlines, e-mail or a contact form. Contacting the customer support team is, in many cases, free of charge.


Equally important are the languages that are spoken by the support team. In the majority of cases, staff will speak english, but many brokers offer other languages too. There may also be varying levels of support that are dependent on your account type. For example, if you have a VIP or platinum account, you may be able to access a more significant level of support. Again, depending on the type of account you have, some brokers may provide you with a personal account manager.


PAYMENT METHODS


Opening a new account will require you to deposit money into the account before you can start trading and, if you are successful, you are going to want to transfer your profits to your private bank account. So, to be thorough in our research, we have to analyse the possible payment methods.


Most crypto brokers will offer credit cards, bank transfer and online payment services such as neteller or skrill. As well as these, you will, of course, be able to open a crypto trading account with cryptocurrencies. However, a credit card is still a popular means of payment, as transactions are uncomplicated and processed within a short time. Bank transfers, while considered very secure, usually take a long time to process. With many crypto brokers, you will also be allowed to deposit and withdraw through online payment services such as skrill, neteller and paypal – these are popular methods due to their transaction speeds.


As mentioned in the fees section of higher up this page, some brokers will charge fees for deposits and withdrawals, so make sure to consider these. There could also be specific limits in place when depositing or withdrawing money — for example, only being able to deposit a minimum of £100. Some will only allow a certain number of payments per month, and each additional transfer may come with a fee. It is often the case that brokers will only allow withdrawals using the same method used when depositing.


Crypto trading broker, crypto trading broker.


Best offers


Many reputable crypto brokers will provide enticing offers to their customers – starting with education and training. Only those providers who have well-developed education and training offers are deserving of the ‘best crypto broker for beginners’ award. Educational offers not only benefit beginners, but they also provide great insights to the more experienced traders. Some brokers will offer seminars, while others will only provide education via a blog with tips or even an online trading academy. You may also find other tools such as a market calendar and updates useful that will come as part of their offers section.


REGULATION AND DEPOSIT PROTECTION


Now, onto a vital part of the research for a broker. Regulation and deposit insurance are important issues, yet, they are not a guarantee that you will get a reputable crypto broker. It is not possible to completely exclude the possibility of crypto fraud in trading. Still, you can be sure that opening an account with regulated providers means they are licensed to offer their services on the market.


The financial authorities are the ones responsible for checking work at regular intervals. To confirm that a broker is regulated, you will be able to search for them on the relevant financial authorities website and any broker that is regulated will clearly state this on their website. Deposit insurance is crucial, and we recommend finding out how much deposit insurance you are provided with when assessing any cryptocurrency broker. It will provide additional protection and secures your funds in the event of bankruptcy, up to a certain amount.


Concerning your data, if you are worried about crypto fraud, there are a few checks that you may wish to perform. In a provider comparison, you should make sure that the data transfer is always encrypted. By choosing a secure password, you can also contribute to your data security.


Crypto trading broker, crypto trading broker.


AWARDS


Press information about a broker can be helpful in a broker assessment, and if it comes from financial press associations, this can be even better. Forums, on the other hand, tend to be less reliable. Positive opinions might be expressed about payments, while negative contributions usually come down to personal misjudgements in trading or lack of market experience.
Experienced brokers or brokers who have already received awards such as ‘best crypto trading platform’ will garner attention in the press. Many brokers link to media coverage on their website. Please take advantage of this opportunity to gain an overview of the current media coverage they got the awards they have won.


If a broker has received an award in the past, it’s still worth seeing if they have any more recent awards. These awards are essential and help brokers to build trust with their customers. Various crypto companies will subject brokers to a test and give annual titles and awards for crypto trading. They will regularly scrutinise platforms, broker support services and security. Awards are certainly a good verometer of assessing a broker – brokers will typically list any awards they have won on their website.



Best cryptocurrency brokers


Luke jacobi

Contributor, benzinga

Want to jump straight to the answer? The best crypto platform for most people is definitely etoro.


Many people believe that cryptocurrencies are the future of finance. When you’re ready to leap into crypto, choosing a broker to trade or invest in cryptocurrencies is one of the most important steps to your success in the crypto market.


Get started now with benzinga’s picks for the best cryptocurrency brokers to choose the right one for you.


Best crypto brokers and trading platforms:



  • Best for social trading: etoro

  • Best for ease-of-use: gemini

  • Best for new investors: coinbase

  • Best for gold investments: itrustcapital

  • Best for high volume forex traders: cryptorocket

  • Best for accessibility: altrady

  • Best for multiple exchanges: voyager


Best crypto brokers


Since different brokers have different strengths, you need to figure out what kind of broker best suits your cryptocurrency interests. Some brokers provide a social trading platform where you copy other cryptocurrency traders’ trades in your own account. Others can offer the ability to make transactions in a broader selection of altcoins.


Choosing the best crypto broker depends largely on addressing your needs as an investor or trader. The following list crypto brokers been selected for different reasons to meet the needs of differing cryptocurrency trading and investing styles.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

1. Best for social trading: etoro


Etoro fundamentally changed the way many people trade and invest with its social trading platform. Social trading involves mirroring another trader or investor’s transactions in a special social trading account. While you make the same amount proportionally as the trader you’re copying, you also take the same percentage of losses the trader takes in their account.


In addition to its regular crypto trading platform, etoro offers an advanced cryptocurrency exchange platform called etorox. This platform is designed for algorithmic traders and institutional grade investors. It offers traders access to tight-dealing spreads, and its algox application programming interface (API) can be used to create custom automated trading tools.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

2. Best for ease-of-use: gemini


Stay on top of market trends, build your crypto portfolio and execute your trading strategy with gemini’s easy-to-use tools. The gemini app is available on all the major app stores, and it puts the industry’s best crypto exchange and wallet in your hands.


Gemini’s app is easy to use. You can track asset prices and real-time market prices and set price alerts so you can act fast on price movements for individual assets. You can also schedule recurring buys on bitcoin and other cryptocurrencies.


Invest with peace of mind with gemini’s solid cybersecurity and custody solutions. Create a free account and make your 1st buy in as little as 3 minutes.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

3. Best for new investors: coinbase


Coinbase is 1 of the largest and oldest cryptocurrency exchanges. It currently services 35 million customers worldwide. Coinbase has extensive educational resources and an intuitive interface ideal for new traders and investors.


The exchange also provides clients with a hosted wallet and offers global customer support. Coinbase is an excellent choice for those new to the cryptocurrency market who do not wish to use social trading services.


Crypto trading broker, crypto trading broker.


Pricing

Account minimum

4. Best for gold investments: itrustcapital


Itrustcapital is 1 of the few cryptocurrency brokers that lets you trade and hold physical gold in your individual retirement account (IRA). You can also trade bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BTH) in your IRA. Itrustcapital provides you with a personal wallet by curv for your crypto transactions.


While itrustcapital has no minimum trade or account size, the company charges account holders a flat fee of $29.95 per month. This amount includes all IRA fees, asset custody charges and access to its trading platform, although all cryptocurrency trades carry an additional 1% transaction charge based on the trade size.


If you’re planning for your retirement and want to add physical gold to your cryptocurrency portfolio as an inflation hedge, then itrustcapital is a solid choice.


Crypto trading broker, crypto trading broker.


5. Best for high volume forex traders: cryptorocket


Cryptorocket offers straight through processing (STP) to its trading clients. This means you deal directly with the crypto and forex markets and not through intermediaries or market makers. This broker model is ideal for high volume forex traders who tend to be sensitive to dealing spreads.


In addition to the 35 crypto pairs offered, you can trade 55 fiat currency pairs, 64 major stocks and 11 indices. If you are based in a jurisdiction with relatively lax retail forex trading regulatory oversight, you may even be able to take advantage of cryptorocket’s 500:1 maximum leverage ratio for forex trades.


Cryptorocket also supports the popular 3rd-party metatrader4 trading platform.



6. Best for accessibility: altrady


Altrady is built by crypto traders for crypto traders. It makes cryptocurrency trading accessible for beginner, intermediate and advanced traders.


You can get the tools that professional crypto traders use without the expensive price tag. Altrady’s platform is intuitive and easy-to-use. Its crypto trading software platform adapts to your needs.


It combines 10 connected exchanges. It also offers immediate price alerts, portfolio manager, break-even calculator, and customizable trading pages by allowing traders to manipulate widgets to create preferred layout in order to trade comfortably, limit ladder order, gain quick access to market tabs, and integrated market scanners.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

7. Best for multiple exchanges: voyager


Voyager connects to more than a dozen of the most trusted and secure crypto exchanges so you have access to the largest crypto trading market available anywhere. Voyager gives you faster, more reliable execution, plus:



  • Access to multiple exchanges: voyager partnered with over a dozen of the most trusted and secure crypto exchanges and liquidity providers. Voyager’s exchange connectivity offers you competitive prices on your trades and faster, more reliable execution.

  • Commission-free trading: voyager operates commission free to save you money. You save money on trades through its extensive crypto market and best execution technology. Voyager achieves price improvement on over 90% of customer orders.



Start trading at a better price today! Download the voyager app today.


Crypto advantages vs. Disadvantages


Trading and investing in cryptocurrencies often carry a considerable degree of risk, as you may have observed given the volatility of bitcoin and some other digital currencies. Despite the disadvantages currently associated with cryptos versus fiat currencies (like lower liquidity and minimal payment options), the advantages of holding cryptocurrencies will increase as they become a more common form of payment.


Here’s a quick shot of crypto advantages and disadvantages.


Advantages



  • Security. Technology advances typically lead to increased intrusion into your privacy. In contrast, all identities and transactions are strictly secured in the digital currency environment. While most cryptocurrency transactions are very secure, you still could be vulnerable to cybercriminal actions, like hacking.

  • Low transaction fees. Because of the elimination of intermediaries like financial institutions, cryptocurrency transaction fees are generally quite low.

  • Decentralized. The lack of a central exchange or authority overseeing cryptocurrencies is one of their defining characteristics. Many people consider this among the biggest advantages of cryptocurrencies and blockchain technology.

  • High potential returns. You only have to look at a long-term bitcoin price chart to get an idea of the returns you can make investing wisely in digital currencies. The crypto world is still developing and expanding, so investing in the right digital currency now could translate into considerable returns in the future.


Disadvantages



  • Acceptance. Because digital currencies have not yet become mainstream, most businesses will not accept them as payment for goods or services. This situation will eventually change as public perception makes digital currencies more acceptable as forms of payment. For example, paypal has recently allowed customers to hold bitcoin balances and has plans to allow payments using that cryptocurrency by early 2021.

  • Volatility. The market volatility observed in some digital currencies can lead to large gains or large losses. Trading and investing in crypto is not for everyone, especially those with a low pain threshold or aversion to risk.

  • Taxes. The internal revenue service (IRS) states on its official website that “virtual currency transactions are taxable by law just like transactions in any other property.” that IRS web page also links to a guide about how existing general tax principles apply to transactions made using digital currencies.

  • Illegal activities. Due to the fact that digital currency transactions generally provide identity security, many people operating outside the law are thought to use digital currency for illegal activities. These activities could include money laundering, “dark web” transactions, and drug and human trafficking.


Cryptocurrency vocabulary


Like many other financial markets, the cryptocurrency market has evolved its own jargon. Some of the key terms used by market operators are defined below.



  • Block. A collection of transactions permanently recorded on a digital ledger that occur regularly in every time period on a blockchain.

  • Blockchain. A constantly growing list of blocks in a peer-to-peer network that records transactions.

  • Cryptocurrency exchanges. Also called digital currency exchanges, these generally consist of online businesses that allow customers to exchange cryptocurrencies for fiat currencies or other cryptocurrencies.

  • Cryptocurrency wallet. A secure digital account used to send, receive and store digital currencies. Crypto wallets can either be cold wallets that are used for storing cryptos in an offline environment or hosted wallets that are hosted by 3rd parties. Hosted wallets store your private keys and provide security for your digital currency balances.

  • Distributed ledger. A network of decentralized nodes or computers that connect to a network where transaction data is stored. Distributed ledgers do not have to involve cryptocurrencies and can be either private or permissioned.

  • Fork. Also known as a “chain split,” a fork is a split that creates an alternate version of a blockchain that then leaves 2 blockchains running simultaneously. For example, bitcoin and bitcoin cash came about due to a fork in the original bitcoin blockchain. Another type of fork is known as a “project” or “software fork.” this occurs when cryptocurrency developers take the source code of an existing altcoin project and create a new project. For example, litecoin is a project fork of bitcoin.

  • ICO. An initial coin offering (ICO) occurs when a new digital currency or token is sold, typically at a discount, to its first set of investors. An ICO lets issuing cryptocurrency companies raise funds from the public to support their coin’s development and maintenance.

  • Mining. A computationally-intensive process performed within a cryptocurrency network where blocks are added to the blockchain by verifying transactions on its distributed ledger. Miners are rewarded with digital coins as compensation for their successful computational efforts.



Are you ready for the future?


Digital currency and the blockchain appear to be the future of finance. Despite their current typical volatility and lack of widespread acceptance as a payment method, cryptocurrencies seem destined to become increasingly used for online payments. They could therefore make an interesting long-term investment, especially if you have a strong appetite for risk.


Where we will be in 20 years is anyone’s guess, but cryptocurrencies and blockchain technology show growing promise as forces to be reckoned with in the financial world. Get started today with 1 of our recommended crypto brokers.


Try gemini


Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini crypto platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with gemini now.



Top cryptocurrency brokers for 2021


We found 11 online brokers that are appropriate for trading cryptocurrency.


Best cryptocurrency brokers guide


Crypto trading broker, crypto trading broker.


Are you interested in investing in cryptocurrency?


If the answer to this is a yes, then you will need to find the right cryptocurrencies brokers whocan accommodate you with the best facilities to trade on the cryptocurrency markets.


Before proceeding, lets cover the real definition of cryptocurrency.


Defining cryptocurrencies


In short, cryptocurrencies are digital or virtual currencies.


These currencies are reliant on cryptography to ensure the security and verification of each digital transaction.


Cryptography can control the number of units and prevent the change of code of the cryptocurrency unless some conditions are met.


The important characteristics of the cryptocurrencies


For some people, cryptocurrencies are the savior of the economy. This is because these can give the perks that not all banks or other financial institutions can provide.


Here are the unique characteristics of the cryptocurrencies which you cannot find in the conventional means of transactions.


No third party involved


There will not be third parties like financial institutions, governments, or any other third party organizations which govern the transactions between you and your recipients, and vice versa.


There is no third party that will intervene in your transaction. And it is a win-win solution with the P2P or peer to peer network. You can send cryptocurrencies through the P2P network and the other users will also be able to do the same for you.


Cryptocurrencies have more transparency


The problem with the conventional transactions is that one can ask for a refund and this will procure such unfortunate things to only one party.


As an example if your buyer has sent you a payment and you have delivered the goods but before the goods reach their destination, your buyer reverses the transaction your result could be that you will not receive the money you are owed and your buyer may have lead you.


You can avoid this issue with the cryptocurrencies transactions as these transactions are irreversible.


Not a single party can alter your transactions and this is why it can offer you more transparent transactions than the conventional fiat currencies.


Decentralized


There is no centralized place to transact at all so you can eliminate the high rates of fees when transferring money.


The cryptocurrency is maintained through the ledger technology called the blockchain. The blockchain prevents all other entities from tarnishing the data. Not a single person can alter the system so that your transactions will be safe and sound. We will discuss blockchain next.


Blockchain definition


Blockchain is bitcoin technology comes in the list of recorded data blocks, which are gathered by cryptography.


The recorded data in the blockchain is referred to as ledger. When there is a new data exchange, usually a transaction, a new block is added to the ledger or the blockchain.


In summary, the blockchain or ledger contains important information.


Cryptocurrency brokers


The era of virtual coin is upon us and is paving a golden path for traders. When trading cryptocurrency it is important to trade through reputable cryptocurrency brokers.


We list some notable cryptocurrency brokers below:


Etoro - being one of the top-rated cryptocurrency brokers it offers several currencies including ethereum, ripple, bitcoin and dash.


XTB - XTB too has a good name among traders and offers a wide range of such virtual currencies including litcoin, ethereum and bitcoin. It is placed as one of the top 5 cryptocurrency brokers in the industry.


Plus500 - it offers crypto throughout the day and night with good leverage for the most popular currencies like litecoin, ripple, neo, ethereum and bitcoin.


What is cryptocurrency?


Cryptocurrency is a virtual coin and is traded on cryptocurrency exchanges through cryptocurrency brokers.


Lately, cryptocurrency has continued to gain popularity. This has opened up lots of new trading tools and ways to trade including contracts for difference (CFD). They earn from the difference between the cost of an asset at the present time and what value it could become in the future.


Cryptocurrency wallets


Similar to other wallets this too facilitates storing, sending and receiving the currency. We explain the three types of cryptocurrency wallet below:


The hardware wallet


The hardware wallet is the most secure crypto wallet as all the data is stored offline. A few of the good examples are trezor, keepkey and ledger nano S.


The paper wallet


A paper cryptocurrency wallet is popular and it is secure. However, it is not as convenient as the hardware wallet.


The software wallet


The software wallet is the most conveniant among the three and can be managed from a desktop or mobile phone device. Some of the cryptocurrency wallets of note are exodus, jaxx and electrum.


Cryptocurrency exchanges


A cryptocurrency exchange is a place where buyers and sellers meet for the purpose of buying, selling or trading the virtual coins with the help of couple of cryptocurrency brokers.


Binance exchange is the most famous cryptocurrency exchange in the world and it offers crypto to crypto trading.


Combase is popular too and it offers trading on 100s and 1,000s of virtual currencies like litecoin, ethereum classic and bitcoin.


Localbitcoins, on the other hand, offers over-the- counter trading of virtual coins. Traders can post a currency for sale on its websites mentioning the rate and payment methods.


ICO and token


Abbreviated for initial coin offering the ICO is a kind of fundraising for a start-up. It is done by selling underlying tokens against ethereum or bitcoin.


ICO is similar to IPO in which traders buy company shares. Investors take an entry at early stage of the project and so are capable of making a profit with the success of the company.


However, one basic difference between the two is that any person from any place in the world can take part in the ICO.


Token meanwhile is a kind of cryptocurrency too but represents a specific asset. It is sometimes used as loyalty points that can be redeemed against discounts. It can also represent something uncommon like one token is 5 bitcoins.


The cryptocurrency mining


Just a little different with the fiat currencies, the cryptocurrencies are usually mined by miners. So, there is a phrase to describe the activity as the cryptocurrency mining.


To define it, it is a process in which the miners use powerful resources, in this case computers and adequate hardware to solve mathematical problems. These complicated problems need to be solved in order to attain the rewards.


To make it more challenging, these mathematical problems have cryptographic hash functions which are linked to the block which contains the information of the transaction.


These mathematical problems are tempted to solve with multiple miners.


So, when figuring out solutions for the problems, miners are competing with other cryptocurrency miners. It is about winning and losing. The winners will get small amounts of cryptocurrency.


The reward comes from the transaction fees the users pay. At least that is how major cryptocurrencies conduct and the other factor which also gives the rewards to the miner is the release of new cryptocurrency.


Cryptocurrency wallet


The cryptocurrency wallet is a digital wallet which the users use to deposit, store, hold, send, and receive digital currency or cryptocurrency.


Do not mistake it with concepts like paypal, payza, or various other digital currency systems. The crypto wallets do not serve as the storage of the cryptocurrency. The wallets only store the information in the form of public and private keys.


Meanwhile, the crypto itself is inside the blockchain. The users do not necessarily store their cryptocurrencies in their wallet. In summary, the cryptocurrencies wallet stores the important information which you can use to access your crypto assets.


Cryptocurrency exchange


When you have the cryptocurrencies assets, you may want to sell it to other users or, you could want to trade the cryptocurrencies. Here is where you will need to use a cryptocurrency exchange.


The cryptocurrency exchange is a platform which allows the users to buy, sell, or trade the cryptocurrencies.


Some exchanges only provide crypto-to-crypto trades, but some also allow the crossover currencies so that you can trade from crypto to fiat or fiat to crypto.


There are many cryptocurrencies exchanges that you can find on the internet. Some of them offer the trades for common cryptos such as BTC, ETH, BNB, USDT, and so on. But some also offer more wider array of currencies exchange.


Cryptocurrency brokers verdict


In current times, it is not exaggerating to say that cryptocurrency is the most volatile asset class that you can find.


It is due to the fact that it comes with the high speculative market not to mention that it currently disrupts the conventional economy so that many established players don�t see it to have inherent value.


Therefore, it is still safe to use the cryptocurrencies but in addition to fiat currencies.


We've collected thousands of datapoints and written a guide to help you find the best cryptocurrency brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best cryptocurrency brokers below. You can go straight to the broker list here.


Reputable cryptocurrency brokers checklist


There are a number of important factors to consider when picking an online cryptocurrency trading brokerage.



  • Check your cryptocurrency broker has a history of at least 2 years.

  • Check your cryptocurrency broker has a reasonable sized customer support of at least 15.

  • Does the cryptocurrency broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

  • Check your cryptocurrency broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

  • Does your cryptocurrency broker have an international presence in multiple countries. This includes local seminar presentations and training.

  • Make sure your cryptocurrency can hire people from various locations in the world who can better communicate in your local language.



Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.


Our brokerage comparison table below allows you to compare the below features for brokers offering cryptocurrency brokers.


We compare these features to make it easier for you to make a more informed choice.



  • Minimum deposit to open an account.

  • Available funding methods for the below cryptocurrency brokers.

  • What you are able to trade with each brokerage.

  • Trading platforms offered by these brokers.

  • Spread type (if applicable) for each brokerage.

  • Customer support levels offered.

  • We show if each brokerage offers micro, standard, VIP and islamic accounts.



Top 15 cryptocurrency brokers of 2021 compared


Here are the top cryptocurrency brokers.


Compare cryptocurrency brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.


All brokers below are cryptocurrency brokers. Learn more about what they offer below.


You can scroll left and right on the comparison table below to see more cryptocurrency brokers that accept cryptocurrency clients



Best cryptocurrency brokers to trade with in 2021



Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading cfds.
You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.


The cryptocurrency market is more live than ever. If we want to get on the right track right from the beginning, we need to choose our crypto broker carefully. Every broker offering crypto trading is not the same. If a broker meets the requirements of one particular client, it does not mean that it will also meet yours. There are several aspects to think about when choosing your cryptocurrency broker.


How to go about choosing the best crypto broker


Regulation and reputation


To avoid being scammed or treated unprofessionally you should trade solely with regulated brokers. Only brokers that are regulated in your jurisdiction can legally offer services to you, such companies are under constant supervision of the regulatory body. There are 2 major financial regulators in europe; the cysec and FCA. A broker that is regulated by one european regulator has the right to provide cross-border services to other members of the european economic area.


A broker that is, for example, regulated in cyprus by the cysec provides the same investor protection even for a trader from the UK, germany, netherlands or any other EEA country member.


In australia and south africa, the most prominent financial regulators are the ASIC and FSCA, respectively.


Cryptocurrencies we want to trade


Before you open your trading account at a brokerage company, you have to first to find out whether the broker you are considering offers all the cryptocurrencies you want to trade. Bitcoin, ethereum, and litecoin can be traded almost everywhere. Less popular cryptocurrencies like IOTA, monero, zcash, and others might, however, not be available on every trading platform. In case you want to trade them at any point, keep this in mind and make sure it will be possible.


Leverage – multiplying your capital


Cryptocurrencies are volatile in their very nature, but if you want to trade with bigger capital than you have you can take advantage of leverage. All brokers that are regulated in the EU follow ESMA laws and offer leverage 2:1. Remember, however, that leverage does not only multiply your earnings but also your losses, should your prediction be incorrect.


Negative balance protection – necessity


You probably do not want to trade with a broker that does not include negative balance protection in the package. The negative balance protection feature ensures you never lose more money than you invest. All users that trade with a broker that is e.G. Licensed by the cysec regulator are protected against negative balance.


Appropriate capital according to your possibilities


How much do you plan to trade with? Does your crypto broker offer to trade with a small starting capital? If not, is it an obstacle for you? Or do you plan to trade in big in order to make that big money? Decide for yourself before you choose your cryptocurrency broker.


Fees – as low as possible

Let's face it, no one really likes them, but they are always there. Yes, we are talking about fees. We know that brokers have to finance their operation somehow, but the lower the fees are, the better. In general, most cryptocurrency brokers we know charge your account with a spread (i.E the difference between the ask and bid price) and with an overnight fee. It is quite hard to determine which broker has the lowest fees as they are not fixed and they tend to change according to the current market conditions. They are also quite different for bitcoin as well as other cryptocurrencies, so while one broker might have very competitive spreads on bitcoin, they might charge high spreads on stellar, or other altcoins. For that reason, the best practice is to open a demo with a reputable company to see what spreads a broker charge in real-time on cryptocurrencies you want to trade.


Overnight fees

While the spread is plausibly the most substantial fee you will have to face when trading, you should also know how big is the overnight fee charged by your broker. The overnight fee is deducted from your balance if you stay in a position overnight. This expense should be monitored especially by traders who want to hold on to their cryptocurrencies for a while.


Trading platform

To beat their competition, the world's leading cryptocurrency brokers try to attract clients to an intuitive trading environment suitable for both experienced and inexperienced traders. Almost all brokers include in their offer technical analysis tools and basic risk management features like a stop loss or take profit. Most companies do not, however, limit their offer only to the mentioned necessities and also offer price alerts, advanced educational centres or perhaps even a social trading network. Here are a few special features that one of the top european and australian crypto providers have to offer.


Broker special features special features
etoro allows you to follow and copy other traders 30 crypto pairs
XTB MT4 & xstation 5 comprehensive educational centre
plus500 price alerts (via an email or SMS), beginner friendly trading platform trailing stop
IQ option an award-winning in-house built platform, online chat with other traders crypto digest videos (twice a week)
capital.Com A wide range of crypto crosses pairs



Etoro


Plus500


IQ option


Roinvesting


The best crypto broker – FAQ


�� what is the best cryptocurrency broker?


To answer what is the best cryptocurrency broker, we would have to know your needs and preferences. Having said that, you should look for a broker that is regulated in your country, has competitive fees and features cryptocurrencies you want to trade.


Regulation


If you are based in europe, you should look for a broker that is regulated in at least one european country. The most common financial regulator in europe is the cysec which is headquartered in cyprus. If you are based in australia, look for the ASIC regulation (A regulatory body that oversees the financial market in australia). If you are based in the US look for the CFTC regulation.


The number one fee when trading with a CFD broker featuring cryptocurrency trading is going to be the spread. Visit a broker that you look and check their website to see what spreads they charge. You can find this info either directly on their trading platform or on a page that is dedicated to the broker’s fees.


Tradable cryptocurrencies


Each broker features different assets. The most common ones usually have all brokers, but if you are looking to trade some less popular altcoins, make sure your broker offers them.


�� can I try cryptocurrency trading risk-free?


Yes, you with most cryptocurrency brokers you can open a free demo account on which you can trade with play money. No initial deposit required.


⭐ what cryptocurrencies can I trade with cryptocurrency brokers?


It depends on what crypto broker you choose. Nearly all cryptocurrency brokers feature bitcoin, ethereum and ripple, but only some allow trading other-less popular coins. In this article, you could find all cryptocurrencies that some of the best crypto broker feature.


Conclusion – the best crypto broker


It would be easy to point a finger and say this is the best crypto broker for you to choose. We, however, know that each client has different preferences so while one trader might want a trading platform with the lowest spreads to day trade cryptocurrencies, the other might rather appreciate a copy trading system to follow the world’s most successful investors. The brokers featured in this article are one of the most popular regulated cryptocurrency brokers out there, the decision what is the best crypto broker for YOU is, however, in your hands.



  • Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.


- 3# crypto chart patterns for day trading
- the best hodling techniques
- how to short any cryptocurrency like a pro


And much more can be found in our crypto section.


Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.


2 comments


Crypto trading broker, crypto trading broker.


Hi michael. I’m retired and simply want to augment my pension with some of the crypto gravy. I have no idea where to start, I only now trade some stocks.
I’m getting some ads with amazing sounding promotions. Brokers that promote a 90% win robot, then when you sign up, a broker – usually from london – calls to see if they can help you trade. I want hands off till I learn. Is there anyone licensed you trust that can provide trading for me. I’ll send in some funds, and they can manage it and take a small cut. Is there a good brokerage out there?


Crypto trading broker, crypto trading broker.


Hello ian,
I bet there are many people who would love to trade with your funds, but be very careful. From my experience, 99% of robots do not work and the people behind them are simply scammers. That being said, you have two options if you want to get in cryptocurrencies. You can either learn how to trade on your own (the better option) or you can use a copy-trading system. Etoro has probably one of the most sophisticated copy-trading systems out there, so that could be your pick. Once you log-into to their platform, find a trader who trades cryptocurrencies and has stable performance. After that, you can start copying his/hers trades (this is done automatically). Best of luck ian!


PS: all brokers that are featured on this page are regulated either by the british financial conduct authority or by the cysec in cyprus.


Leave a reply cancel reply


Tradingbeasts helps individual traders learn how to responsibly trade binary options and cfds. We actively trade, publish educational articles and news. We review and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns that we come across. We are also a community of traders that support each other on our daily trading journey.


Disclaimer/disclosure


All information on this website represent subjective views of the authors and they are solely informational. We do not give investment advice. The operator of the website or the authors of the articles do not bear any responsibility for any decisions that visitors may make after reading articles .Published on the tradingbeasts website. When you trade binary options or cfds products you are exposed to a high risk of loss. We review and rate companies offering trading platforms for binary options and cfds. We do our best to warn people about scams and promote only companies we personally consider to be very good. From some of these companies, we may receive compensation. In order for you to use this website in any manner, please read our disclaimer/disclosure page and privacy policy


The information on this site is not directed at residents of the united states, belgium or any particular country and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.



Top cryptocurrency brokers for 2021


We found 11 online brokers that are appropriate for trading cryptocurrency.


Best cryptocurrency brokers guide


Crypto trading broker, crypto trading broker.


Are you interested in investing in cryptocurrency?


If the answer to this is a yes, then you will need to find the right cryptocurrencies brokers whocan accommodate you with the best facilities to trade on the cryptocurrency markets.


Before proceeding, lets cover the real definition of cryptocurrency.


Defining cryptocurrencies


In short, cryptocurrencies are digital or virtual currencies.


These currencies are reliant on cryptography to ensure the security and verification of each digital transaction.


Cryptography can control the number of units and prevent the change of code of the cryptocurrency unless some conditions are met.


The important characteristics of the cryptocurrencies


For some people, cryptocurrencies are the savior of the economy. This is because these can give the perks that not all banks or other financial institutions can provide.


Here are the unique characteristics of the cryptocurrencies which you cannot find in the conventional means of transactions.


No third party involved


There will not be third parties like financial institutions, governments, or any other third party organizations which govern the transactions between you and your recipients, and vice versa.


There is no third party that will intervene in your transaction. And it is a win-win solution with the P2P or peer to peer network. You can send cryptocurrencies through the P2P network and the other users will also be able to do the same for you.


Cryptocurrencies have more transparency


The problem with the conventional transactions is that one can ask for a refund and this will procure such unfortunate things to only one party.


As an example if your buyer has sent you a payment and you have delivered the goods but before the goods reach their destination, your buyer reverses the transaction your result could be that you will not receive the money you are owed and your buyer may have lead you.


You can avoid this issue with the cryptocurrencies transactions as these transactions are irreversible.


Not a single party can alter your transactions and this is why it can offer you more transparent transactions than the conventional fiat currencies.


Decentralized


There is no centralized place to transact at all so you can eliminate the high rates of fees when transferring money.


The cryptocurrency is maintained through the ledger technology called the blockchain. The blockchain prevents all other entities from tarnishing the data. Not a single person can alter the system so that your transactions will be safe and sound. We will discuss blockchain next.


Blockchain definition


Blockchain is bitcoin technology comes in the list of recorded data blocks, which are gathered by cryptography.


The recorded data in the blockchain is referred to as ledger. When there is a new data exchange, usually a transaction, a new block is added to the ledger or the blockchain.


In summary, the blockchain or ledger contains important information.


Cryptocurrency brokers


The era of virtual coin is upon us and is paving a golden path for traders. When trading cryptocurrency it is important to trade through reputable cryptocurrency brokers.


We list some notable cryptocurrency brokers below:


Etoro - being one of the top-rated cryptocurrency brokers it offers several currencies including ethereum, ripple, bitcoin and dash.


XTB - XTB too has a good name among traders and offers a wide range of such virtual currencies including litcoin, ethereum and bitcoin. It is placed as one of the top 5 cryptocurrency brokers in the industry.


Plus500 - it offers crypto throughout the day and night with good leverage for the most popular currencies like litecoin, ripple, neo, ethereum and bitcoin.


What is cryptocurrency?


Cryptocurrency is a virtual coin and is traded on cryptocurrency exchanges through cryptocurrency brokers.


Lately, cryptocurrency has continued to gain popularity. This has opened up lots of new trading tools and ways to trade including contracts for difference (CFD). They earn from the difference between the cost of an asset at the present time and what value it could become in the future.


Cryptocurrency wallets


Similar to other wallets this too facilitates storing, sending and receiving the currency. We explain the three types of cryptocurrency wallet below:


The hardware wallet


The hardware wallet is the most secure crypto wallet as all the data is stored offline. A few of the good examples are trezor, keepkey and ledger nano S.


The paper wallet


A paper cryptocurrency wallet is popular and it is secure. However, it is not as convenient as the hardware wallet.


The software wallet


The software wallet is the most conveniant among the three and can be managed from a desktop or mobile phone device. Some of the cryptocurrency wallets of note are exodus, jaxx and electrum.


Cryptocurrency exchanges


A cryptocurrency exchange is a place where buyers and sellers meet for the purpose of buying, selling or trading the virtual coins with the help of couple of cryptocurrency brokers.


Binance exchange is the most famous cryptocurrency exchange in the world and it offers crypto to crypto trading.


Combase is popular too and it offers trading on 100s and 1,000s of virtual currencies like litecoin, ethereum classic and bitcoin.


Localbitcoins, on the other hand, offers over-the- counter trading of virtual coins. Traders can post a currency for sale on its websites mentioning the rate and payment methods.


ICO and token


Abbreviated for initial coin offering the ICO is a kind of fundraising for a start-up. It is done by selling underlying tokens against ethereum or bitcoin.


ICO is similar to IPO in which traders buy company shares. Investors take an entry at early stage of the project and so are capable of making a profit with the success of the company.


However, one basic difference between the two is that any person from any place in the world can take part in the ICO.


Token meanwhile is a kind of cryptocurrency too but represents a specific asset. It is sometimes used as loyalty points that can be redeemed against discounts. It can also represent something uncommon like one token is 5 bitcoins.


The cryptocurrency mining


Just a little different with the fiat currencies, the cryptocurrencies are usually mined by miners. So, there is a phrase to describe the activity as the cryptocurrency mining.


To define it, it is a process in which the miners use powerful resources, in this case computers and adequate hardware to solve mathematical problems. These complicated problems need to be solved in order to attain the rewards.


To make it more challenging, these mathematical problems have cryptographic hash functions which are linked to the block which contains the information of the transaction.


These mathematical problems are tempted to solve with multiple miners.


So, when figuring out solutions for the problems, miners are competing with other cryptocurrency miners. It is about winning and losing. The winners will get small amounts of cryptocurrency.


The reward comes from the transaction fees the users pay. At least that is how major cryptocurrencies conduct and the other factor which also gives the rewards to the miner is the release of new cryptocurrency.


Cryptocurrency wallet


The cryptocurrency wallet is a digital wallet which the users use to deposit, store, hold, send, and receive digital currency or cryptocurrency.


Do not mistake it with concepts like paypal, payza, or various other digital currency systems. The crypto wallets do not serve as the storage of the cryptocurrency. The wallets only store the information in the form of public and private keys.


Meanwhile, the crypto itself is inside the blockchain. The users do not necessarily store their cryptocurrencies in their wallet. In summary, the cryptocurrencies wallet stores the important information which you can use to access your crypto assets.


Cryptocurrency exchange


When you have the cryptocurrencies assets, you may want to sell it to other users or, you could want to trade the cryptocurrencies. Here is where you will need to use a cryptocurrency exchange.


The cryptocurrency exchange is a platform which allows the users to buy, sell, or trade the cryptocurrencies.


Some exchanges only provide crypto-to-crypto trades, but some also allow the crossover currencies so that you can trade from crypto to fiat or fiat to crypto.


There are many cryptocurrencies exchanges that you can find on the internet. Some of them offer the trades for common cryptos such as BTC, ETH, BNB, USDT, and so on. But some also offer more wider array of currencies exchange.


Cryptocurrency brokers verdict


In current times, it is not exaggerating to say that cryptocurrency is the most volatile asset class that you can find.


It is due to the fact that it comes with the high speculative market not to mention that it currently disrupts the conventional economy so that many established players don�t see it to have inherent value.


Therefore, it is still safe to use the cryptocurrencies but in addition to fiat currencies.


We've collected thousands of datapoints and written a guide to help you find the best cryptocurrency brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best cryptocurrency brokers below. You can go straight to the broker list here.


Reputable cryptocurrency brokers checklist


There are a number of important factors to consider when picking an online cryptocurrency trading brokerage.



  • Check your cryptocurrency broker has a history of at least 2 years.

  • Check your cryptocurrency broker has a reasonable sized customer support of at least 15.

  • Does the cryptocurrency broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

  • Check your cryptocurrency broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

  • Does your cryptocurrency broker have an international presence in multiple countries. This includes local seminar presentations and training.

  • Make sure your cryptocurrency can hire people from various locations in the world who can better communicate in your local language.



Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.


Our brokerage comparison table below allows you to compare the below features for brokers offering cryptocurrency brokers.


We compare these features to make it easier for you to make a more informed choice.



  • Minimum deposit to open an account.

  • Available funding methods for the below cryptocurrency brokers.

  • What you are able to trade with each brokerage.

  • Trading platforms offered by these brokers.

  • Spread type (if applicable) for each brokerage.

  • Customer support levels offered.

  • We show if each brokerage offers micro, standard, VIP and islamic accounts.



Top 15 cryptocurrency brokers of 2021 compared


Here are the top cryptocurrency brokers.


Compare cryptocurrency brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.


All brokers below are cryptocurrency brokers. Learn more about what they offer below.


You can scroll left and right on the comparison table below to see more cryptocurrency brokers that accept cryptocurrency clients



Best cryptocurrency brokers


Luke jacobi

Contributor, benzinga

Want to jump straight to the answer? The best crypto platform for most people is definitely etoro.


Many people believe that cryptocurrencies are the future of finance. When you’re ready to leap into crypto, choosing a broker to trade or invest in cryptocurrencies is one of the most important steps to your success in the crypto market.


Get started now with benzinga’s picks for the best cryptocurrency brokers to choose the right one for you.


Best crypto brokers and trading platforms:



  • Best for social trading: etoro

  • Best for ease-of-use: gemini

  • Best for new investors: coinbase

  • Best for gold investments: itrustcapital

  • Best for high volume forex traders: cryptorocket

  • Best for accessibility: altrady

  • Best for multiple exchanges: voyager


Best crypto brokers


Since different brokers have different strengths, you need to figure out what kind of broker best suits your cryptocurrency interests. Some brokers provide a social trading platform where you copy other cryptocurrency traders’ trades in your own account. Others can offer the ability to make transactions in a broader selection of altcoins.


Choosing the best crypto broker depends largely on addressing your needs as an investor or trader. The following list crypto brokers been selected for different reasons to meet the needs of differing cryptocurrency trading and investing styles.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

1. Best for social trading: etoro


Etoro fundamentally changed the way many people trade and invest with its social trading platform. Social trading involves mirroring another trader or investor’s transactions in a special social trading account. While you make the same amount proportionally as the trader you’re copying, you also take the same percentage of losses the trader takes in their account.


In addition to its regular crypto trading platform, etoro offers an advanced cryptocurrency exchange platform called etorox. This platform is designed for algorithmic traders and institutional grade investors. It offers traders access to tight-dealing spreads, and its algox application programming interface (API) can be used to create custom automated trading tools.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

2. Best for ease-of-use: gemini


Stay on top of market trends, build your crypto portfolio and execute your trading strategy with gemini’s easy-to-use tools. The gemini app is available on all the major app stores, and it puts the industry’s best crypto exchange and wallet in your hands.


Gemini’s app is easy to use. You can track asset prices and real-time market prices and set price alerts so you can act fast on price movements for individual assets. You can also schedule recurring buys on bitcoin and other cryptocurrencies.


Invest with peace of mind with gemini’s solid cybersecurity and custody solutions. Create a free account and make your 1st buy in as little as 3 minutes.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

3. Best for new investors: coinbase


Coinbase is 1 of the largest and oldest cryptocurrency exchanges. It currently services 35 million customers worldwide. Coinbase has extensive educational resources and an intuitive interface ideal for new traders and investors.


The exchange also provides clients with a hosted wallet and offers global customer support. Coinbase is an excellent choice for those new to the cryptocurrency market who do not wish to use social trading services.


Crypto trading broker, crypto trading broker.


Pricing

Account minimum

4. Best for gold investments: itrustcapital


Itrustcapital is 1 of the few cryptocurrency brokers that lets you trade and hold physical gold in your individual retirement account (IRA). You can also trade bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BTH) in your IRA. Itrustcapital provides you with a personal wallet by curv for your crypto transactions.


While itrustcapital has no minimum trade or account size, the company charges account holders a flat fee of $29.95 per month. This amount includes all IRA fees, asset custody charges and access to its trading platform, although all cryptocurrency trades carry an additional 1% transaction charge based on the trade size.


If you’re planning for your retirement and want to add physical gold to your cryptocurrency portfolio as an inflation hedge, then itrustcapital is a solid choice.


Crypto trading broker, crypto trading broker.


5. Best for high volume forex traders: cryptorocket


Cryptorocket offers straight through processing (STP) to its trading clients. This means you deal directly with the crypto and forex markets and not through intermediaries or market makers. This broker model is ideal for high volume forex traders who tend to be sensitive to dealing spreads.


In addition to the 35 crypto pairs offered, you can trade 55 fiat currency pairs, 64 major stocks and 11 indices. If you are based in a jurisdiction with relatively lax retail forex trading regulatory oversight, you may even be able to take advantage of cryptorocket’s 500:1 maximum leverage ratio for forex trades.


Cryptorocket also supports the popular 3rd-party metatrader4 trading platform.



6. Best for accessibility: altrady


Altrady is built by crypto traders for crypto traders. It makes cryptocurrency trading accessible for beginner, intermediate and advanced traders.


You can get the tools that professional crypto traders use without the expensive price tag. Altrady’s platform is intuitive and easy-to-use. Its crypto trading software platform adapts to your needs.


It combines 10 connected exchanges. It also offers immediate price alerts, portfolio manager, break-even calculator, and customizable trading pages by allowing traders to manipulate widgets to create preferred layout in order to trade comfortably, limit ladder order, gain quick access to market tabs, and integrated market scanners.


Crypto trading broker, crypto trading broker.


Commissions

Account minimum

7. Best for multiple exchanges: voyager


Voyager connects to more than a dozen of the most trusted and secure crypto exchanges so you have access to the largest crypto trading market available anywhere. Voyager gives you faster, more reliable execution, plus:



  • Access to multiple exchanges: voyager partnered with over a dozen of the most trusted and secure crypto exchanges and liquidity providers. Voyager’s exchange connectivity offers you competitive prices on your trades and faster, more reliable execution.

  • Commission-free trading: voyager operates commission free to save you money. You save money on trades through its extensive crypto market and best execution technology. Voyager achieves price improvement on over 90% of customer orders.



Start trading at a better price today! Download the voyager app today.


Crypto advantages vs. Disadvantages


Trading and investing in cryptocurrencies often carry a considerable degree of risk, as you may have observed given the volatility of bitcoin and some other digital currencies. Despite the disadvantages currently associated with cryptos versus fiat currencies (like lower liquidity and minimal payment options), the advantages of holding cryptocurrencies will increase as they become a more common form of payment.


Here’s a quick shot of crypto advantages and disadvantages.


Advantages



  • Security. Technology advances typically lead to increased intrusion into your privacy. In contrast, all identities and transactions are strictly secured in the digital currency environment. While most cryptocurrency transactions are very secure, you still could be vulnerable to cybercriminal actions, like hacking.

  • Low transaction fees. Because of the elimination of intermediaries like financial institutions, cryptocurrency transaction fees are generally quite low.

  • Decentralized. The lack of a central exchange or authority overseeing cryptocurrencies is one of their defining characteristics. Many people consider this among the biggest advantages of cryptocurrencies and blockchain technology.

  • High potential returns. You only have to look at a long-term bitcoin price chart to get an idea of the returns you can make investing wisely in digital currencies. The crypto world is still developing and expanding, so investing in the right digital currency now could translate into considerable returns in the future.


Disadvantages



  • Acceptance. Because digital currencies have not yet become mainstream, most businesses will not accept them as payment for goods or services. This situation will eventually change as public perception makes digital currencies more acceptable as forms of payment. For example, paypal has recently allowed customers to hold bitcoin balances and has plans to allow payments using that cryptocurrency by early 2021.

  • Volatility. The market volatility observed in some digital currencies can lead to large gains or large losses. Trading and investing in crypto is not for everyone, especially those with a low pain threshold or aversion to risk.

  • Taxes. The internal revenue service (IRS) states on its official website that “virtual currency transactions are taxable by law just like transactions in any other property.” that IRS web page also links to a guide about how existing general tax principles apply to transactions made using digital currencies.

  • Illegal activities. Due to the fact that digital currency transactions generally provide identity security, many people operating outside the law are thought to use digital currency for illegal activities. These activities could include money laundering, “dark web” transactions, and drug and human trafficking.


Cryptocurrency vocabulary


Like many other financial markets, the cryptocurrency market has evolved its own jargon. Some of the key terms used by market operators are defined below.



  • Block. A collection of transactions permanently recorded on a digital ledger that occur regularly in every time period on a blockchain.

  • Blockchain. A constantly growing list of blocks in a peer-to-peer network that records transactions.

  • Cryptocurrency exchanges. Also called digital currency exchanges, these generally consist of online businesses that allow customers to exchange cryptocurrencies for fiat currencies or other cryptocurrencies.

  • Cryptocurrency wallet. A secure digital account used to send, receive and store digital currencies. Crypto wallets can either be cold wallets that are used for storing cryptos in an offline environment or hosted wallets that are hosted by 3rd parties. Hosted wallets store your private keys and provide security for your digital currency balances.

  • Distributed ledger. A network of decentralized nodes or computers that connect to a network where transaction data is stored. Distributed ledgers do not have to involve cryptocurrencies and can be either private or permissioned.

  • Fork. Also known as a “chain split,” a fork is a split that creates an alternate version of a blockchain that then leaves 2 blockchains running simultaneously. For example, bitcoin and bitcoin cash came about due to a fork in the original bitcoin blockchain. Another type of fork is known as a “project” or “software fork.” this occurs when cryptocurrency developers take the source code of an existing altcoin project and create a new project. For example, litecoin is a project fork of bitcoin.

  • ICO. An initial coin offering (ICO) occurs when a new digital currency or token is sold, typically at a discount, to its first set of investors. An ICO lets issuing cryptocurrency companies raise funds from the public to support their coin’s development and maintenance.

  • Mining. A computationally-intensive process performed within a cryptocurrency network where blocks are added to the blockchain by verifying transactions on its distributed ledger. Miners are rewarded with digital coins as compensation for their successful computational efforts.



Are you ready for the future?


Digital currency and the blockchain appear to be the future of finance. Despite their current typical volatility and lack of widespread acceptance as a payment method, cryptocurrencies seem destined to become increasingly used for online payments. They could therefore make an interesting long-term investment, especially if you have a strong appetite for risk.


Where we will be in 20 years is anyone’s guess, but cryptocurrencies and blockchain technology show growing promise as forces to be reckoned with in the financial world. Get started today with 1 of our recommended crypto brokers.


Try gemini


Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini crypto platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with gemini now.



COMPARE THE BEST CRYPTO BROKERS


Updated: 07 january 2021


Etoro


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Strengths


  • Market-leading social trading platform

  • Wide range of cryptocurrencies

  • Authorised and regulated by several leading financial authorities

  • Beginner-friendly features such as copytrader

  • Wide selection of stocks-cfds



Weaknesses


  • High forex spreads - not great for FX traders

  • Only supports one base account currency (USD)

  • $5 withdrawal fee



Cryptology


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Strengths


  • Great cryptocurrency support

  • Transparent fee and pricing structure

  • Great referral programme

  • Competitive pricing structure

  • Solid performance through the browser-based trading platform



Weaknesses


  • No support for financial instruments beyond cryptocurrencies

  • Relatively high withdrawal fees on wire transfers

  • No pro features available



Stormgain


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Strengths


  • Multilingual website

  • Loyalty program and bonuses

  • Security

  • Ability to buy cryptocurrency using bank cards

  • 24/7 customer support



Weaknesses


  • Replenishment of accounts only possible with cryptocurrencies

  • Stormgain is currently not regulated. However, the stormgain legal team provides adequate control

  • Only cryptocurrencies can be withdrawn from the platform



To be deemed the ‘best crypto broker’, a provider must meet several criteria. Whether you already have trading experience or are at the start of your currency trading journey, choosing a broker is an important process. In our cryptocurrency broker comparison, we assess key criteria, such as fees, support and trading offers, and explain what to look for when selecting providers. Beside trading conditions and costs, we also take into account the current situations on the market – in order to identify the right crypto broker for you.


What are the key criteria our traders use when evaluating cryptocurrency brokers


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.
Crypto trading broker, crypto trading broker.


To be deemed the best crypto broker here at asktraders, you have to meet and exceed expectations in several different criteria. Whether you already have trading experience or are at the start of your cryptocurrency trading journey, choosing a broker is a necessary and vital process. We assess fundamental criteria which include fees, customer support, and their platform amongst others. We do this to help you understand what to look out for when you are on the hunt for your perfect crypto broker. We also take into account the current situations on the market – to identify the right crypto broker for you.


Whichever cryptocurrency broker you choose, in nearly all instances opening an account is often free of charge. However, brokers find other ways to make their money. They have to make profits as well so many brokers charge fees based on the dealing spread, real-time prices and add-ons for their trading platforms. Some bitcoin brokers may also charge for deposits and withdrawals.


Account types


There are an increasing amount of cryptocurrency brokers that now offer a choice of accounts. These typically include beginner, advanced and VIP accounts. Your deposit amount usually decides the type of account you have however trading volume can also determine your account type. Traders might begin with a starter account and then upgrade to another account, according to either trade volume or increasing your deposit amount.


When comparing the differences between crypto brokers, you should be able to answer the following questions: what services do I get with each account? How do accounts differ? Are there any business offers?


Crypto trading broker, crypto trading broker.


Platforms


When looking for a broker, one of the most crucial aspects you need to analyse is the platform as it can be a critical factor in determining your trading success. The best crypto trading platforms will have an intuitive and easy to use interface, where the charting is smooth and indicators are easy to find.


Specially developed software solutions are often available as well as existing platforms such as metatrader 4. A customisable interface is particularly advantageous. The focus should be on technical indicators and the trading systems offered when analysing the platform. Technical indicators will become vital as you build your profitable trading strategy. The better the platform and the more support it offers, the better you can focus on actual trading.


One last point to mention in this section is looking at opportunities to trade on the move. It has become a must-have feature – one that allows for flexible use at any time — all of the best crypto trading platforms have well-designed apps that make it easy to trade from your phone or tablet. When researching the app, you should focus on the charting and ability to enter and exit trades.


Usability


When looking at the crypto broker’s website, you should first check that it is available in a language you can understand – sometimes, this is only obvious upon second glance. In most cases, the broker will have an english language site, but it will often be possible to set the language to your preference. Make sure that the translation is complete and all aspects of the website are easy to understand.


A vital component of the website is navigation – it should be organised and guide you through swiftly. ‘one-click’ navigation is a particularly popular feature, as it allows you to find everything immediately. The website will need to provide you with easy access to information such as contact options, cost models and fees, offers, account types and terms of service. Other general information about the broker and an FAQ section may also be helpful.


Crypto trading broker, crypto trading broker.


CUSTOMER SUPPORT


Trading can be a problematic endeavour and issues can arise, especially with a new asset class like cryptocurrency. There is great value to be had in having a fantastic customer support team, so at asktraders we place particular importance on this part of our broker analysis.


Many top crypto brokers provide a live chat option, and you can usually reach customer support via hotlines, e-mail or a contact form. Contacting the customer support team is, in many cases, free of charge.


Equally important are the languages that are spoken by the support team. In the majority of cases, staff will speak english, but many brokers offer other languages too. There may also be varying levels of support that are dependent on your account type. For example, if you have a VIP or platinum account, you may be able to access a more significant level of support. Again, depending on the type of account you have, some brokers may provide you with a personal account manager.


PAYMENT METHODS


Opening a new account will require you to deposit money into the account before you can start trading and, if you are successful, you are going to want to transfer your profits to your private bank account. So, to be thorough in our research, we have to analyse the possible payment methods.


Most crypto brokers will offer credit cards, bank transfer and online payment services such as neteller or skrill. As well as these, you will, of course, be able to open a crypto trading account with cryptocurrencies. However, a credit card is still a popular means of payment, as transactions are uncomplicated and processed within a short time. Bank transfers, while considered very secure, usually take a long time to process. With many crypto brokers, you will also be allowed to deposit and withdraw through online payment services such as skrill, neteller and paypal – these are popular methods due to their transaction speeds.


As mentioned in the fees section of higher up this page, some brokers will charge fees for deposits and withdrawals, so make sure to consider these. There could also be specific limits in place when depositing or withdrawing money — for example, only being able to deposit a minimum of £100. Some will only allow a certain number of payments per month, and each additional transfer may come with a fee. It is often the case that brokers will only allow withdrawals using the same method used when depositing.


Crypto trading broker, crypto trading broker.


Best offers


Many reputable crypto brokers will provide enticing offers to their customers – starting with education and training. Only those providers who have well-developed education and training offers are deserving of the ‘best crypto broker for beginners’ award. Educational offers not only benefit beginners, but they also provide great insights to the more experienced traders. Some brokers will offer seminars, while others will only provide education via a blog with tips or even an online trading academy. You may also find other tools such as a market calendar and updates useful that will come as part of their offers section.


REGULATION AND DEPOSIT PROTECTION


Now, onto a vital part of the research for a broker. Regulation and deposit insurance are important issues, yet, they are not a guarantee that you will get a reputable crypto broker. It is not possible to completely exclude the possibility of crypto fraud in trading. Still, you can be sure that opening an account with regulated providers means they are licensed to offer their services on the market.


The financial authorities are the ones responsible for checking work at regular intervals. To confirm that a broker is regulated, you will be able to search for them on the relevant financial authorities website and any broker that is regulated will clearly state this on their website. Deposit insurance is crucial, and we recommend finding out how much deposit insurance you are provided with when assessing any cryptocurrency broker. It will provide additional protection and secures your funds in the event of bankruptcy, up to a certain amount.


Concerning your data, if you are worried about crypto fraud, there are a few checks that you may wish to perform. In a provider comparison, you should make sure that the data transfer is always encrypted. By choosing a secure password, you can also contribute to your data security.


Crypto trading broker, crypto trading broker.


AWARDS


Press information about a broker can be helpful in a broker assessment, and if it comes from financial press associations, this can be even better. Forums, on the other hand, tend to be less reliable. Positive opinions might be expressed about payments, while negative contributions usually come down to personal misjudgements in trading or lack of market experience.
Experienced brokers or brokers who have already received awards such as ‘best crypto trading platform’ will garner attention in the press. Many brokers link to media coverage on their website. Please take advantage of this opportunity to gain an overview of the current media coverage they got the awards they have won.


If a broker has received an award in the past, it’s still worth seeing if they have any more recent awards. These awards are essential and help brokers to build trust with their customers. Various crypto companies will subject brokers to a test and give annual titles and awards for crypto trading. They will regularly scrutinise platforms, broker support services and security. Awards are certainly a good verometer of assessing a broker – brokers will typically list any awards they have won on their website.



Best crypto trading forex brokers for 2021


Below you will find a list of forex brokers that offer cryptocurrency trading instruments (e.G. BTCUSD, ETHUSD, LTCUSD) and allow account funding with major crypto coins. In most cases, these are bitcoin, etherium and litecoin, although certain companies provide more options. Blockchain technologies made crypto transactions very simple and highly anonymous. Hence, some forex brokers don’t even require to undergo an account verification process before you can deposit or withdraw some funds in the form of cryptocurrency.


Who are crypto forex brokers? These are forex brokers that also list cryptocurrency assets on their platforms, usually in combination with fiat currencies to form a crypto-fiat pairing. Examples of crypto-fiat pairs include BTCUSD, DASHUSD, ETHUSD and LTCUSD. These cryptocurrency assets are CFD instruments and do not warrant owning the actual cryptocurrencies in itself.


What crypto assets are offered by crypto forex brokers?


Assets that are offered by crypto forex brokers include various pairings between cryptocurrencies and fiat currencies. Popular cryptos used in these pairings are bitcoin (BTC), ethereum (ETH) and litecoin (LTC). However, other cryptos such as DASH, ripple, NEO and stellar lumens have emerged as crypto assets that are making their way onto platforms featured by crypto forex brokers. Fiat currencies which are used as the counter asset in these pairings are US dollar (most popular), euro and british pound. So you get to find pairings such as BTC/USD, ETH/USD, LTC/USD, DASH/USD, BTC/EUR, etc. The exact combinations will differ from broker to broker. These crypto assets are usually listed on popular platforms such as the MT4, where they can be traded just like any other currency pair of CFD asset. You can use market or pending orders to setup trades, or trade with the regular lot sizes featured on the platforms to setup your trades.


Account opening with crypto forex brokers


Opening an account with a crypto forex broker is quite simple, and follows the regular process of account opening, which involves filling an online form. Account verification is also easier, especially if you are going to use a crypto-only account, or if you will use cryptos for deposits and withdrawals. This is because cryptocurrency transactions are basically anonymous and do not require verification of the identities of the individuals involved in the transaction. So if you opt for a crypto transaction method for deposits and withdrawals, your account will most likely be opened for trading without verification.


Depositing/withdrawing funds on crypto forex broker platforms


Some crypto forex brokers require that you open a dedicated account that can be used to trade cryptocurrency assets, while others allow you to use the same regular trading accounts used to forex and cfds. In the last few years, some crypto forex brokers have opened up new payment channels that allow their clients to deposit and withdraw their holdings in cryptocurrencies. Bitcoin and ethereum are the popular cryptocurrencies used for such deposits and withdrawals. To be able to use these cryptos for deposit and withdrawal transactions, there is a need to get a wallet to be able to hold your assets. These wallets are usually provided by the crypto forex broker. Making a deposit in cryptocurrencies will require you to obtain BTC or ETH from a third party source exchange, store this in an external wallet, and transfer what you want to trade with to your wallet on the crypto forex broker platform. Withdrawals will also follow the same route. The advantage here is that the cryptos used in conducting your deposit transactions are held in a cold wallet and are not accessible to hackers, unlike the ones held in exchanges which are hot wallets and are vulnerable to theft by hackers. Brokers like simplefx typify an emerging trend where crypto forex brokers are increasingly dispensing with fiat deposit methods and replacing these with more crypto-based methods. Presently, simplefx allows users to deposit and withdraw funds in cryptos such as bitcoin, bitcoin cash, ethereum, dash and litecoin. It also offers e-wallets such as fasapay, skrill and neteller. You really would not even find the bank wire or card options here.


For other brokers, you will also be able to use conventional means of payment to transact on your account. This includes the use of bank wires, credit/debit cards and e-wallets such as skrill, neteller and webmoney.


More consistently, you will find that some of the crypto forex brokers in our list offer both fiat and cryptocurrency deposit and withdrawal methods. Thinkmarkets is an example of this hybrid transaction model, as it offers the fiat methods just mentioned as well as the bitcoin method using the bitpay wallet.


How were crypto forex brokers on this list selected?


Certain factors were considered in compiling the list of the best crypto forex brokers you can use today. These factors include leverage/margin requirements, security of transactions and spreads.


Leverage/margin requirements


Trading cryptocurrencies on forex broker platforms in europe and the UK has become very expensive, no thanks to the 1:2 leverage cap imposed by the european securities and markets authority (ESMA). Ordinarily, spreads on some cryptocurrency assets such as BTC/USD are quite high, and margin requirements as well as the inherent volatility of some of these assets may overwhelm most traders’ financial capacity. In compiling our list of the best crypto forex brokers, one of the criteria used for selection was to seek for platforms that had friendlier leverage provisions. The leverage provided by many of the brokers on our list for trading cryptocurrency assets ranges from 1:2 to 1:100. In terms of cost implications to the trader, what does this mean?


Trading LTC/USD with a leverage of 1:2 means that setting up a $100,000 position on this asset will require a margin of $50,000. But on a crypto forex broker platform like that of primexbt (one of the brokers found on our list), the leverage provided for trading this asset is 1:100. This means that you can trade a standard lot with a margin of $1000. Look at the difference in the two positions: $50,000 margin (UK/EU broker) as opposed to $1,000 margin (our broker). It goes without saying that this represents significant cost savings and using our brokers will make crypto trading on a forex platform cheaper.


Security of transactions


For those who opt to use the crypto-based funding and withdrawal methods, a key advantage of using crypto forex brokers is the safety of transactions. Rather than expose your crypto holdings in exchange-based hot wallets, you can use the same holdings in secure cold wallets to fund your account and trade the same assets as cfds. This represents a far more secure way to trade and enables the trader to have immense peace of mind. It should also be mentioned that most crypto forex brokers mentioned here are regulated, and so there is accountability in how business is conducted on those platforms. Using exchanges which are unregulated always carries risks, as users of cryptopia and quadrigacx have found out the very hard way.


Spreads


Cryptos tend to have higher spreads than any other assets on these crypto forex platforms. For instance, the spread on LTC/USD on simplefx is 14,800 points, or $148 for a standard lot position. But comparatively speaking, the spreads on crypto assets with our crypto forex brokers are lower than what you will get on other platforms. Spreads are the trader’s cost, and for assets that carry wider spreads, this cost simply needs to be kept as low as possible. By offering traders lower spreads, the savings that will be realized over time will prove beneficial for the trader.





So, let's see, what we have: fxdailyreport.Com over the last few years, cryptocurrency trading has become one of the most attractive niches in forex trading. Other than it being extremely profitable, the lack of at crypto trading broker

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