Brokers with cryptocurrency trading
On this page you will find information about the best brokers with cryptocurrency trading. What is cryptocurrency? Whether it is legal to trade cryptocurrency? How to buy cryptocurrency? What is the best broker for cryptocurrency trading?
The first cryptocurrency Bitcoin appeared in 2009 and since then has continued to grow and develop as an alternative currency. After peaking above $ 18,000 per coin at the end of 2017, bitcoin fell in value and then rose again, claiming record prices above $ 28,000 at the end of December 2023. At the time of publication, the total capitalization of all cryptocurrencies was $ 1 trillion.
With the growing demand for bitcoin, cryptocurrency brokers began to appear, and to make it easier for you to choose a brokerage company, we have prepared a rating of cryptocurrency brokers for you.
What is cryptocurrency?
Cryptocurrency is a form of digital money, transparent, anonymous and secure. Thanks to the use of blockchain technology, all transactions are public, it is impossible to fake them. As a rule, the supply of cryptocurrencies is limited, which increases their value over time. You can make money on cryptocurrency not only through mining or long-term storage in order to sell the asset when it significantly increases in price, but also with the help of currency speculation.
Whether it is legal to trade cryptocurrency?
In some jurisdictions, cryptocurrency is prohibited or illegal to buy, exchange, or own. Meanwhile, in other countries it is perfectly legal. For example, in the US and UK, it is legal to buy cryptocurrency from regulated brokers. However, CFD trading is prohibited in both countries. The UK ban on cryptocurrency CFDs came into force on January 6, 2023.
The best brokers with cryptocurrency trading for 2023
We have conducted our own research and compiled a list of the best Forex brokers for trading cryptocurrency for you:
- eToro is the best option for cryptocurrency trading;
- Swissquote – a reliable global brand, a diverse pre -application;
- IG is a great offer that enjoys the most trust;
- RoboForex is a great universal offer;
- AvaTrade – several options for trading platforms;
- XTB – Best customer service, Great platform;
- HYCM – more than 60 CFDs on cryptocurrencies.
How to buy cryptocurrency?
Consider the two main ways to buy and sell cryptocurrency:
- Buy a physical asset. The most common way to buy cryptocurrency is to buy a physical asset from a cryptocurrency broker like eToro. After the purchase, your cryptocurrency will be stored in a digital wallet provided by the broker.
- Buy CFDs on cryptocurrency. Another popular way to trade cryptocurrency is to use CFDs. When you buy CFDs, you do not own a physical asset. Instead, you bet on which direction the price of the cryptocurrency will go, up or down, and make a profit when you are right.
What fees do cryptocurrency brokers charge?
The commission for buying cryptocurrency can be quite high on many offshore brokers, so we recommend that you use only regulated brokers. Trading costs usually consist of a transaction fee, as well as the difference between the buy and sell price, known as the spread. The commission for trading cryptocurrencies usually ranges from 0.002% to 2% of the transaction value.
What is the best broker for cryptocurrency trading?
For trading CFDs on cryptocurrency, including the ability to open long and short positions, we recommend Forex brokers such as IG or AvaTrade because of their competitive prices. And vice versa traders who want to purchase an underlying physical asset should choose eToro or Swissquote Bank.
Which Forex broker offers the most cryptocurrencies for trading?
Our research has shown that eToro offers the largest number of cryptocurrency pairs for trading. With eToro, traders can buy and sell cryptocurrencies (physical assets), trade CFDs on cryptocurrencies, and even copy trades of other traders. Other cryptocurrency brokers offering dozens of cryptocurrencies are XTB and HYCM.
Which cryptocurrency broker is the safest?
Among the brokerage companies offering physical cryptocurrencies, the most secure broker is Swissquote, regulated as a Swiss bank. Swissquote, founded in 1996, is a public company and is regulated in four first-tier jurisdictions. In addition to Swissquote, IG is another secure broker for trading cryptocurrencies. It is a public broker and is regulated in six tier one jurisdictions.
How to sell cryptocurrency in short?
If you want to make money on the fall in the price of cryptocurrencies without owning a physical asset, you need to open an account with a Forex broker that offers CFDs on cryptocurrencies. Using a contract for difference (CFD), you can open a sell order (by placing a bid to reduce the price). To make a profit, the price of cryptocurrency must fall.
|Regulation||CySEC, FCA, ASIC||FINMA, FCA, DFSA, MFSA||FCA,CFTC,NFA, BaFin,ASIC,FINMA||FCA, IFSC, CNMV||CySEC, FCA, DFSA|
|Leverage for cryptocurrencies||1:2||1:2||1:2,85||1:5||1:2|
|Cryptocurrencies||BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, BNB, XTZ||BTC, ETH, LTC, XRP, BCH, LINC, ETC, EOS, XLM, XTZ, REP, ZRX||BTC, BCH, ETH, XRP, LTC, EOS, XLM, NEO||BTC, BCH, ADA, DASH, EOS, ETH, ETC, IOTA, LTC, NEO, XRP, XLM, XEM, XMR, ZEC||BTC, BTG, ADA, ATOM, BAB, BSV, DOT, DASH, EOS, ETH, ETC, IOTA, LINC, LTC, NEO, STR, TRX, XMR, XRP, XTZ, YFI, ZEC|
|Average BTC Spread||—||—||50 points||—||3690 points|
|Trading Platforms||eToro||AdvancedTrader||IG, MT4||xStation, MT4||MT4, MT5|
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