Best Bitcoin Brokers: A Detailed overview

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Best Bitcoin Brokers: A Detailed overview

Last Update: 2022-04-14

We know all the benefits of Bitcoin, but the question is how to get one if needed. Following are the best Bitcoin brokers in the world.

Best Bitcoin Brokers: A Detailed Overview

Bitcoin is the most popular cryptocurrency in the world. The trading volume or market of Bitcoin is more than any other cryptocurrency in the market. Finding the best Bitcoin brokers is a real task. This new technology is revolutionizing the whole world.

Bitcoin is new public money, or electrical cash emerged after the arrival of Blockchain technology. It was launched in 2009 in the month of January. Its design and purpose were published in a white paper. Bitcoin supply is limited. It means a specific number of Bitcoin available to use in the market. There is a total of 21 million Bitcoin available to use for users.

In 2017, for the first time in history, Bitcoin broke the barrier of $10,000, and by the end of the same year, this digital currency had reached a value of almost $20,000. The famous entrepreneur Elon Musk twitted in the favor of Bitcoin and after his encouraging remarks and a huge investment the value of Bitcoin got to its maximum in history.

It isn't easy to mine Bitcoin, and it behaves very much like a commodity because of this intense mining process. Bitcoin is far more effective and valuable than gold. Thanks to Blockchain technology, all Bitcoin transactions are public, and anyone can join the network. Bitcoin is prone to any censorship or forged transactions.

We know all the benefits of Bitcoin, but the question is how to get one if needed. Following are the best Bitcoin brokers in the world.

Altrady:

Altrady is one of the best Bitcoin brokers available in the market. It is easy and simple to use with an engaging interface. You can buy, sell and trade Bitcoin using Altrady.

Altrady just released its latest version, 3.0 which now enables web-based trading. You can trade on multiple platforms from this single platform. You can make an account on Altrady and buy Bitcoin from more than a dozen different platforms. It will provide you with all the necessary information, such as exchange rates, fees and markup ratios of other platforms.

You can also boost your trades with all-in-one cryptocurrency trading software. If you want to trade your Bitcoin after purchasing it, there is no other platform to help you other than Altrady.

  1. No to minimum transaction fee
  2. All-in-one trading platform
  3. Safe, secure, and easy to use
  4. Signal bot
  5. Engaging interface
  6. Good for beginners
  7.  More than 50,000 active Bitcoin traders

Robinhood:

Robinhood is the best Bitcoin broker at the moment. It is top of the line because of its commission-free system. It is a great option to buy Bitcoin directly. It is widely popular because of its trading commission fee, which is $0 percent.

Robinhood is extremely easy to use. It is a favorable broker for beginners and people with low trading volumes. You can buy Bitcoin with almost zero fees. It will save you a lot of money.

However, you are still paying a built-in spread markup fee on your trades. You can go for stocks and ETF trades for the same low fee if you are into more than just cryptocurrency trading.

Another benefit of this broker is its Android and iOS applications. With the Robinhood trading app, you can easily make trades and buy Bitcoin.

Following are the main features of the platform.

  1. $0 commission fee
  2. The minimum account balance is $0
  3. Safe and secure to use
  4. ETF trades and stocks
  5. The majority of Bitcoin is stored in cold storage

eToro:

eToro is one of the best Bitcoin brokers in the market. You can buy and sell Bitcoin at any time, anywhere. It offers commission-free crypto trading. However, it charges a spread based on the traded cryptocurrency.

You must pay a markup of 75 points for Bitcoin; however, the markup on other cryptocurrencies can go up to 500 basis points or 5 percent of the amount.

eToro offers copy trading. It is the main feature of this bitcoin broker. If you want to trade your Bitcoin, you can copy the trades of top crypto traders on the platform and ensure your profits.

Pros Cons
A large number of investors copy No automated trading strategies
Extensive range of markets to trade Stops, limits mandatory on trades
User-friendly platforms and app Research trails competitors
0% Commission on stocks

Kraken:

Kraken is a leading cryptocurrency exchange in the world. You can buy and sell any cryptocurrency, especially Bitcoin, on this platform. Kraken offers additional benefits during the trading and selling process, making it the top-of-the-line Bitcoin broker.

Traders have to pay a 1.5 percent fee in general and a 0.9 percent fee on stable coins. If you are using your card or paying through a bank, you must pay an additional fee to support the whole process.

Active traders can benefit from the more advanced version of this platform known as Kraken Pro. In Kraken, the Pro fee declines to 0.l6 to 0.26 percent. However, Kraken is not available for Washington and New York citizens. If you want to trade your Bitcoin, then advanced trading options such as margin and futures trading are also available on this platform.

  • Kraken is based in the US. company
  • 95% of assets are kept in cold storage
  • The minimum investment amount starts only from $10
  • There are more than 73 million active traders on Kraken

Binance:

Binance was founded in 2017. It was a China-based platform initially founded by Changpeng Zhao, a Chinese national. However, there were complexities in operating Binance on Chinese territory. That is why management decided to move it to George Town, Cayman Islands. In China, there were increasing regulations on cryptocurrencies. On the other hand, Europe is more Crypto friendly.

Binance, at this moment, is the largest and most popular cryptocurrency exchange globally with respect to market cap and trading volume. It offers top-notch security to secure your online assets. You can also buy Bitcoin from your mobile by using Binance App both on your Android or iOS mobile phones. Binance supports the trading of almost 350 cryptocurrencies and tokens, including Bitcoin.

Their fee ranges from 0% to 10%. Binance comes with a complex fee structure mainly based on the VIP levels. The upper the VIP level, the lower the fee.

  • Low trading fee
  • Fast verification process
  • Accept payment via credit cards
  • Discounts are available
  • More than 350 coins available for trade

Coinbase:

Coinbase was founded in 2012. It was founded 3 years after the launch of Bitcoin, which is why it is one of the very first exchanges developed for cryptocurrency purchasing and trading. Fred Ehrsam and Brian Armstrong founded it.

Since the foundation and launch of Coinbase, it has kept a central position in the international market due to its top-notch safety system and secure transaction channels.

Coinbase does not offer advanced trading features as compared to other trading platforms. However, if you want to buy Bitcoin and keep it safe online, Coinbase is among the best options. Due to these features, it is the main crypto exchange in the US to Bitcoin.

Buying Bitcoin is easy but keeping it secure online is not that simple. There are cyber-attacks and stealing attempts by cybercriminals to steal your digital currency. That is why, to clear the air further and make things easy and secure for investors, Coinbase is offering a safe crypto wallet with top-notch security features and protocols. It means that you can keep your Bitcoin in this wallet as long as you want without the fear of losing it.

  • Coinbase provides a crypto wallet for cryptocurrency
  • Coinbase is a US-based platform
  • It is a suitable platform for beginners
  • Available in more than 100 countries

Conclusion:

Selecting the right broker is not easy. Whenever you choose a broker, keep in mind all the important factors that can help you through your journey.

First thing first, you must decide whether you want to own cryptocurrency or want to trade this currency. Make your mind clear your direction. It will help you to make the right decision for you. Keep in mind that trading cryptocurrencies is not easy and comes with higher profits and higher risks.

You must ensure the availability of brokers in your country because many broker companies operate in different world regions. For example, Binance operates worldwide except for a few countries, and Coinbase operates in more than 100 countries.

Another factor to take care of is the purchasing, selling, and trading fee of the platforms. It is the most crucial factor one can think of. Do your homework, compare the fee of different platforms then select the right one for yourself.

FAQs

Is Investing in Bitcoin safe?

Bitcoin is the most secure and influence-free currency in the world right now. You can invest, buy, sell, and trade Bitcoin on these platforms without any second thoughts.

Is it safe to use these platforms to buy Bitcoin?

All these platforms are safe and secure to use. You can make an account and verify yourself on these platforms. Make sure to use your original name and other necessary information.

Verify your account to enjoy additional benefits. Some of these platforms offer secure crypto wallets, and you can use these wallets to keep your investment safer.

Is Bitcoin trading legal?

In some parts of the world, trading cryptocurrencies are still not legal. However, in most of the world, buying or selling Bitcoin is legal. In certain parts of the world, governments are still working to regulate the cryptocurrencies.

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