Best Crypto Brokers 2022 – Some of the Top Choices

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On a global scale, cryptocurrency is a market that is gaining significant traction. This is confirmed by the explosion in new coins, trading activity, and institutional interests too. Of course, cryptos such as Bitcoin and Ethereum still dominate the space. However, hundreds of other coins are actually available to purchase these days. And if you want to gain access to all of these crypto coins, one of the best investment platforms for you to choose is a crypto broker. As the name suggests, these platforms provide an intermediary link between yourself and the various crypto assets available. 

Crypto brokerage sites are actually rather common in many parts of the world. Many crypto investment companies offer multiple products on their site too, meaning that they aren’t exclusively brokerage platforms. For example, you might sign up with a site and find that they offer a digital wallet, exchange, staking services, and of course, brokerage services too. It all depends on which site you choose to register with, which brings us to the main reason we are here. The hard work and research process has already been done for you, and our team of professionals have managed to filter things down to the very best brokers:

  • eToro – best overall crypto broker
  • Pepperstone – best crypto broker for low fees
  • Coinbase – best crypto broker for beginners
  • Binance – best crypto broker for enthusiasts

HeraldScotland:

eToro – visit here

67% of retail investor accounts lose money when trading CFDs with this provider

 

eToro is an immensely popular site in the USA. But while it first launched out there, eToro has since expanded into markets like the UK, Australia, and others. This site is used by more than 15 million users, at the time of writing, and there are specific reasons why eToro has gained such popularity. Underpinning it all, the main appeal of eToro is how easy it is to trade crypto on the platform. eToro has a mobile app for both Android and iOS, it facilitates instant order executions, and the user interface is absolutely terrific. Even those who are brand new to the crypto investing game should have no trouble getting started.

Of course, eToro also boasts some specific benefits above some of the other crypto brokers out there. These include zero fees for trades, access to state of the art risk-management tools, support of all major cryptocurrencies, as well as options relating to social trading. The latter is what really put eToro on the map in the first place, in all honesty. Social trading lets you copy seasoned investors, trade by trade, which is ideal if you aren’t completely certain of what you are doing.

Sign up to eToro here <<<

Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. CFD crypto trading is unavailable for clients residing in the UK and US. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Pepperstone – visit here

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pepperstone is popularly regarded as a Forex trading platform, but that’s not all these guys have to offer. While yes, Pepperstone did focus on this market when they launched back in 2010, the platform is now highly diverse. And in recent times, Pepperstone has started to give users access to the crypto markets. With that said, Pepperstone is focusing mainly on CFDs with crypto, which is essentially a form of spread betting on the market price. This is somewhat complex at first, but there are educational videos on the Pepperstone site to help expand your knowledge in this area. 

You can also get leverage of 2:1 for major cryptos like Ethereum and Bitcoin, which helps to boost your trading power.

 

Sign up to Pepperstone here <<<

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Coinbase – visit here

Coinbase actually has two main products that users can take advantage of. The first is a standard wallet, simply known as Coinbase. This wallet is the easiest way to buy and sell different cryptos, and it is extremely safe to do so through this platform. However, the fees can be quite high compared to other brokerage sites mentioned here. This can be avoided by choosing to use the Coinbase Pro product, which is where you’ll find a set-up more similar to an exchange or brokerage platform.

Coinbase Pro has significantly lower fees, sometimes as low as 0.5% (subject to the size of your order). It also provides users with a much better range of cryptos to buy and sell, including access to typical trading tools such as charts, trading volume, and the ability to set stop orders. 

Binance – visit here

Binance is the self-proclaimed ‘largest crypto exchange in the world’. While we can’t confirm one way or another concerning this, we can say that the product offerings are certainly extensive with Binance. The platform supports well over 100 different cryptos, with an even greater number of crypto trading pairs – ideal if you don’t always want to invest using fiat currency. You’ve also got benefits like relatively low fees, staking services, stop limits, as well as leverage trading, if desired. Binance is incredibly safe and accessible too, with all members being able to download the highly-rated trading app for both Android and iOS. 

What Is a Crypto Broker?

A crypto broker is basically a platform that connects individual investors with the crypto markets. That’s where the term broker comes from, in the first place, as it indicates that someone ‘brokers a deal’ before executing a trade. However, back in the day, brokers would often work at large firms and deal with investors over the phone, connecting the needs of both parties by acting as a middleman. But with crypto brokers, all of this has been streamlined. Instead of negotiations taking place between two parties, with plenty of back and forth going on, everything is now built-in using software, allowing trades to be completed almost instantly. 

One thing that hasn’t changed, however, is the small fee that a broker takes for facilitating the transaction. Many sites still have fees for transactions, unless you pick a site like eToro, where all fees have been removed for trades. 

 

Trade with eToro here <<<

67% of retail investor accounts lose money when trading CFDs with this provider

How Do Crypto Brokerages Work?

In a broad sense, crypto brokerages work by connecting investors with the main crypto market, providing instant access to a range of coins. The platforms themselves are the actual broker in this case, which is quite different from how things used to be. Back in the day, people would deal with individual brokers to set up their buy and sell orders, but this is no longer necessary, even if it is still possible. Brokerages facilitate both sides of the equation, helping to execute both buy and sell deals relating to crypto, often taking a small fee for providing such a bridge. 

What’s the Difference Between a Broker and an Exchange?

Although investors often use these terms synonymously, there are subtle differences between exchanges and brokerages. Starting with exchanges, these are similar to a brokerage platform, although people buy and sell cryptos at the current market price – unless they set any stop orders. With brokerages, they are able to set the price, and they often create products known as derivatives, which are a little more complex. One constant, however, is that both platforms facilitate the buying and selling process by connecting investors on both sides of the equation.

Brokerage sites also tend to operate in the OTC (over the counter) market, which is different from exchanges. For that reason, brokerages are able to set up more complex products and services, as previously stated. Brokerage sites can set up derivatives, futures, as well as CFDs, all operating in a way that is speculative but can lead to larger returns thanks to the flexible trading options. 

What Are CFD Brokers?

For starters, we’d better highlight what a CFD is. This stands for contract for difference, and it is a little confusing for novice investors, understandably. Basically, with CFDs, nobody actually owns the crypto coin. Instead, two parties are essentially betting on whether the price will increase or decrease from the price at which the CFD contract was initiated. Since CFDs are only typically allowed in OTC markets, that’s why people must use a crypto broker to engage in such contracts. 

CFDs are very popular in the United Kingdom, USA, and Australia – especially for cryptos such as Bitcoin, which are expensive to own outright. Investing this way lets you be involved with that asset class without having to stump up such huge sums of cash. Should a CFD contract go in your favour, the returns can be significant, but the opposite is also true. For that reason, CFD trading is only recommended for experienced individuals.

How to Sign Up to a Crypto Broker

After covering some of the best crypto brokers available right now, we’d like to…



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