The best Bitcoin Broker

Bitcoin is still very popular among the people who want to invest in it. The reason people want to invest in this coin is mainly the fact that you are able to get significantly high returns for investing.

These returns make it possible to earn a significant amount of money in a short period of time. Since not everyone is yet familiar with investing in Bitcoin, we have listed a few things in this article today.

This information makes it possible to get started investing much faster and easier. This also makes it possible for you to start investing in the well-known Bitcoin currency!

When it comes to buying Bitcoin, there are several places you can go. Due to this variety of possible platforms and exchanges you are able to trade again and again in a wide variety of possible currencies and currencies.

Below we have made a selection of the best places to go for this trade. By choosing one of the options below, you will also be able to quickly get started with investing:

eToro

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This platform is known as the leading social trading platform at the moment. 

The eToro platform allows the users to trade cryptocurrencies, stocks, currency pairs, CFDs, indices and commodities.

It is a reputable platform licensed and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities Investment Commission (ASIC) in Australia and the Cypriot Securities and Exchange Commission (CySec) in Cyprus. It currently supports trading of major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash and many more other projects. Once you are done trading on eToro, you can deposit your money through your PayPal account, credit/debit card or other payment method.

The user-friendly interface has made it possible for everyone to start trading well-known cryptocurrencies such as Bitcoin. On the Etoro site you can find much more information regarding the services offered on it.

Plus500

Founded in Israel in 500, Plus2008 is a renowned CFD trading platform that supports trading of over 2.700 financial instruments.

Think of crypto, forex, commodities, stocks, options and indices. Like eToro, it is also licensed and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities Investment Commission (ASIC) in Australia. Plus500 has user-friendly web-based and mobile trading platforms.

The web-based trading platform is suitable for advanced CFD trading professionals. If you are an expert trader, you can see that you can find plenty of advanced tools on the platform. The mobile trading platform is accessible on both Android and iOS devices.

It has all the features of the web-based trading platforms so that you can easily trade on your phone wherever you can imagine. The accepted deposit methods include credit/debit cards, bank transfer, PayPal and Skrill.

Please note: you can only withdraw money via PayPal if you have at least €50 in the account. The minimum withdrawal amount for bank transfers and credit/debit cards is €100.  

Note: 80.5% of retail investors lose money with CFDs.

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cryptorocket 

CryptoRocket is a company that started out as a fully cryptocurrency dedicated platform, specifically offering bitcoin trading via CFDs. The company's success has been such that in just a few years it has become a world-renowned force in the CFD market.

It is a platform that provides access to a wide range of asset classes and markets worldwide. Not only has the company diversified into other markets, but it has also expanded its own range of cryptocurrencies. This allowed traders and investors to take advantage of CFDs instead of dealing with a traditional exchange.

An important aspect to mention is that CFDs are derivative products that simply track the price of the underlying asset, allowing for almost instant liquidity and lightning fast execution. If you are interested in buying cryptocurrency with the intention of using it as a currency, we suggest you choose an exchange. For the normal trader it is again a great choice!

Binance

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Binance originally started in China before moving to Japan, Taiwan and finally Malta. This was done to set up the platform based on friendly national regulations.

Binance is the largest provider of cryptocurrency trading in the world, at least if we look at the volume traded on the platform daily. Binance has a huge range of cryptocurrencies available for trading.

They use trading currencies Bitcoin, Ethereum, Tether, and/or Binance Coin BNB for all trading pairs. BNB users get 50% of all trading fees. The disadvantage of Binance is that you cannot just invest with normal money.

You must first convert it to the trading pairs before you can make a trade on the platform. This makes it less accessible than, for example, using Etoro or Plus500.

Coinbase

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Coinbase is an American fiat exchange that accepts USD (and other fiat in specific regions) in exchange for Bitcoin, Ethereum, Litecoin, Ethereum Classic, and Bitcoin Cash.

Many people use Coinbase for any other crypto exchange because Coinbase is widely available and very easy to use† Coinbase is one of the most expensive Bitcoin exchanges, but this is partly due to the high level of investor protection they provide to their users.

With Coinbase you get what you pay for. The disadvantage, however, is that at Coinbase you really have to do everything yourself. If you choose the Etoro platform, you will be able to make the right transactions considerably faster.

This makes it easier for you to get started with investing in cryptocurrencies.

Coinmama

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Coinmama, is also a cryptocurrency exchange platform. It is definitely worth a look. Vmainly because of the extensive worldwide reach and the user-friendliness. 

The exchange has one of the most intuitive user interfaces that makes buying Bitcoin easy. It is available in 188 countries around the world and supports deposits in almost all popular currencies. Like all the other platforms we recommend, Coinmama is a valid exchange for trading cryptocurrencies. 

Another interesting feature of Coinmama is the fact that it offers instant purchases on Bitcoin and other popular cryptos. 

And that while other exchange platforms do not allow credit card purchases. You must be willing to pay 5,9% in Bitcoin exchange rates, and an additional 5% on all credit/debit card transactions. 

What is a Bitcoin exchange or a cryptocurrency exchange?

Bitcoin exchanges are online marketplaces where cryptocurrencies are bought and sold. Bitcoin exchanges match buyers with sellers. Supply and demand determine the price of Bitcoin. Buyers pay for Bitcoin what they think it is worth based on how much is available on the exchange.

There are Bitcoin exchanges around the world, targeting a regional and international audience. Some exchanges accept fiat currency, others only crypto. Still others don't sell Bitcoin at all, instead allowing users to place bets on crypto price fluctuations.

Some Bitcoin exchanges are regulated. Others don't. But all good cryptocurrency exchanges must provide a strong user experience, protect users' funds, and comply with the law and industry best practices.

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What is the difference between an exchange and a broker?

A sub-type of the exchange, the CFD Broker, is different from a normal cryptocurrency exchange in that they do not sell real Bitcoin. Instead, CFD brokers essentially allow users to bet on Bitcoin's future price.

CFDs (Contracts For Difference) are a quick way to trade, without having to use Bitcoin wallets or mess with confusing Bitcoin transactions. It is also easy to lose money quickly with CFD trading, if you are not used to it.

However, with the right experience and knowledge, you will be able to successfully trade a Bitcoin CFD† Just make sure that if you want real Bitcoin you choose a normal exchange.

How do you find the best Cryptocurrency Exchange?

If you don't want to use Etoro now, you can also opt for a normal exchange. It is important that you take the right steps to make the right choice. 

Below are some things that are important to consider when choosing a good exchange platform for buying your cryptocurrency.

  • Fiat-to-crypto or from crypto-to-crypto

In your search for a reliable Bitcoin exchange platform, you should first determine your needs and see if you are better off with crypto to crypto or fiat money to a crypto exchange. 

If you want to invest in fiat money, you should look for a platform that supports it. This is possible with a platform like Etoro. 

  • Check their safety guarantee

What measures has your favorite Bitcoin exchange taken with regard to security and privacy? We recommend that you only consider companies with a verifiable security perimeter.

This includes using multiple layers of security and authentication, such as using two-step authentication and applying know-your-customer (KYC) procedures during registration. With this assurance, you can be sure that your coins are safer than usual.

However, it is important to know that there are always risks involved when leaving your coins on different exchanges. Below you will find more information about these risks. 

  • Ensures the exchange is regulated

Licensing and acting under the close supervision of a reputable governmental regulatory agency can be taken as a guarantee that such agency is responsible for the exchange and its operators at the time of licensing. 

Close control, on the other hand, keeps the agency informed of its targets and any anomalies and irregularities will eventually be identified and addressed.

By looking at the regulations, you can learn more about the quality of the platform you want to trade on.
 
  • Good customer service 

Check out the various reviews about the exchange and see if a customer service department is present. Take into account factors such as the wait time, 24/7 availability and the time it takes to answer your questions. 

Why is good customer service so important? If you have certain questions when trading the coins, there should be an opportunity to ask all your questions.

If the website does not offer customer service, we recommend that you do not put any money into the platform, otherwise you may run into problems.   

  • affordability

The lack of central regulation means that Bitcoin exchanges must exercise discretion in setting transaction costs.

Always opt for the cheapest option, as long as their low rates don't cover up their compromised security and poor service.

The lower transaction costs allow you to save more money on the various transactions you have made.

By paying attention to these things, you can find an exchange that fully meets the criteria. Of course you can also choose Etoro. By trading CFD coins, you no longer have to worry about safety on the platform. You also do not have to put the coins in your own wallet after you have bought them.

This ensures that you can really get rid of all the worries that normally come with trading Bitcoin and other currencies.    

Can I store my Cryptocurrencies indefinitely on exchanges?

This is not a good idea. Cryptocurrency exchange wallets are intended for the short-term storage of coins, such as immediately after a Bitcoin purchase.

Exchange wallets can technically hold unlimited cryptocurrencies, but as we learned from hacking exchanges like Cryptopia and QuadrigaCX you can lose money. Every crypto exchange is basically a target for every hacker.

With so many millions or billions in assets on a single platform, thieves will work as hard as they can to steal the coins. Buy your coins and quickly move them to a wallet located on your computer or mobile device.

As an individual, you don't have hackers trying to steal from you, at least not with the same effort as the major exchanges.

Why Are So Many Crypto Exchanges Hacked?

There are several reasons why today's exchanges are so vulnerable to the hacker. They are centralized. The exchanges basically hold huge piles of digital money.

One hacker who breaks through can yield a huge score. Cryptocurrency exchanges are suffering during the crypto bear market. Some have had to lay off staff, leaving them with less expertise to dive into security.

Some cryptocurrency exchanges are still a bit of a double when it comes to security. Many crypto transactions are virtually unregulated, which entails risks.

What Happens If I Lose My Money in a Crypto Exchange Hack?

The answer to this question depends entirely on which scholarship you use. If your Bitcoin is lost in the hack of an unregulated and offshore Bitcoin exchange, you probably won't get your money back.

There is simply no regulatory body capable of enforcing customer protections on these types of exchanges.

However, if you use highly regulated exchanges like Coinbase (which probably won't get hacked anyway), you're more likely to get your money back. This gives you that little bit more certainty when investing in Bitcoin or other cryptocurrencies.

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With the information from this article, you will also be able to get started with trading cryptocurrencies. This ensures that you are able to earn passive income from this special form of trading.

It should be noted that there are risks associated with trading cryptocurrencies. The market is very volatile and can experience nice fluctuations. This is why we recommend that you do not invest more than you are willing to lose.

That way you will not be faced with surprises, this will save you a lot of worries if the prices turn out to go down.