Bitcoin Broker compared
Bitcoin price rises incessantly with few interruptions. At the same time, Bitcoin is also one of the most volatile asset classes currently available. This makes Bitcoin interesting for people who not only invest in Bitcoin, but also want to trade with it. But finding a Bitcoin broker that meets your own needs is not always easy. I want to help you finding the right Bitcoin broker in this post.
Bitcoin broker: Cex.io
A relatively unknown but very interesting Bitcoin broker is Cex.io. The platform is not very old (if you can even speak of “old” in Bitcoin brokers). However, Cex.io has all the relevant security precautions, such as 2fa-Login. In addition to Bitcoin trading, this Bitcoin broker also offers trading a wide range of Altcoins. So you can also trade there DASH, Litecoin, Ripple, IOTA and a lot of other cryptocurrencies.
Cex.io: also interesting for newcomers
Cex.io offers not only extensive features for professional traders but also for beginners in the field of cryptocurrencies. When you enter the page you get asked, if and to what amount you want to buy Bitcon. The payment is conveniently made by credit card. Once you have bought Bitcoin or sent another cryptocurrency to your account, trading can begin immediately.
Cex.io features for traders
For traders, this Bitcoin broker offers all relevant features. So you can easily perform technical analysis on the platform. In addition, the Bitcoin broker also offers different order types such as limit and stop loss orders.
Bitcoin broker cex.io conclusion
Cex.io is not without reason the first Bitcoin broker i introduce here. The crypto-exchange has an appealing design and offers all relevant functionalities. The security is high and the usability is very good. In addition, cex.io offers good entry-level opportunities for newcomers. The first step is to buy bitcoins. A small disadvantage is that cex.io is still relatively new.
Bitcoin Broker: Binance
The next Bitcoin broker we would like to introduce here is Binance. This is also a relatively new crypto-exchange. The seat is in Hong Kong. You do not have to perform a verification with this Bitcoin broker. This makes Binance particularly interesting for those traders who value privacy.
To the user interface of Binance
The user interface of Binance has a feature that you rarely see. So this Bitcoin Broker offers a user interface for beginners and one for advanced users. Anyone who is not (yet) “advanced” will still find it easy to navigate Binance. For traders who find it important to have extensive charting capabilities, the Advanced interface is intended. Here the Bitcoin Broker offers all relevant features for Bitcoin Trader.
Binance is an interesting alternative to cex.io. In addition, this Bitcoin broker requires no verification. One drawback, however, is that this crypto exchange is based in Hong Kong and is still relatively new.
Crypto broker etoro (not for US citizens)
A bitcoin broker of a different kind is etoro. How so? Because it is a social trading platform. This means that every user has the opportunity to make his trades public. If his performance is good, he can be copied. With many copiers you can even generate an income with his trades.
It is also possible to copy other traders and participate in their success. You do not have to pay extra. Etroro is financed by the profits that the platform generates from spreads.
Strictly speaking, etoro is not a real Bitcoin broker. For example, you can not transfer your coins to a wallet here. Although etoro deposits the trades with real bitcoins, the user only considers them in the form of his trades.
In addition to Bitcoin, etoro also offers trading in Bitcoin Cash, Litecoin, DASH and Ripple, with regular additions of new cryptocurrencies. The verification is easy to do with etoro (you only have to scan two documents and send) and with deposits you can even choose Paypal.
While etoro is not a pure Bitcoin broker, those who only want to trade in junk currencies and do not want to pay them can certainly live with it. Verification and deposits are straightforward and the interface is suitable for both beginners and advanced users.
Checklist: What to consider when choosing a Bitcoin Broker
In the following part of the article, we would like to briefly explain what to look for when choosing a Bitcoin Broker.
- The seat
You should always first check where a Bitcoin broker is located. If there is a crypto exchange like Binance in Hong Kong, then you should take a closer look and do some research.
- The offered cryptocurrencies
If you are looking for a Bitcoin broker, you will usually be interested in trading other cryptocurrencies. In addition, it may be interesting to trade Bitocin not only for dollars, but also against other cryptocurrencies.
If a Bitcoin broker also offers the purchase of Bitcoin by credit card, he will usually also a Verifkation verlagnen. This is basically no problem if you are using notebook or / and smartphone. For one or the other, it may still be daunting to have to verify exatra.
A Bitcoin broker that does not offer 2fa should not even be considered. Bitcoin awakens desires among many hackers. In this respect, 2fa should be considered as a kind of minimum standard. But a “good” broker will offer even more security features to most people. This includes, for example, an e-mail with every login.
Featured Image By: Sam valadi