We found 11 online brokers that are appropriate for Trading Cryptocurrency.
In this article, titled 'How to Buy, Sell, and Trade Cryptocurrencies', we will take a deeper look at some of the significant aspects of digital currencies with the goal of helping beginners and amateur traders understand the pros and cons of the modern trading arena, and how to make money from it.
Before we proceed, it is worth considering that cryptocurrencies are highly exciting for many as they have come a long way and have lured some with chunky returns. The currencies are highly volatile, and this feature has offered some immense opportunities. If beginners or novice traders want to give it a try, here is some important and helpful information about how to buy, sell, and trade cryptocurrencies.
The first thing to do is to decide whether to buy the cryptocurrencies or trade them. Trading simply means speculating the prices without taking ownership of the coins. Trading can be done through derivatives like CFDs.
In buying, one needs to pay the full price value of the currency while only a small proportion is required in trading CFDs, which is a leveraged instrument. It is, in fact, a cheaper approach towards investment, and there is no fee charged to either deposit or withdraw the money. Trading has a tax advantage compared to investing, as no capital gains tax is levied.
However, if the price prediction goes wrong in a leveraged instrument, the losses could be magnified to greater than the original deposited amount.
After a decision is made whether to buy or trade cryptocurrencies, it is time to set up an account. Buying and selling are done through exchanges. Hence, an account needs to be created in order to store the currencies in a digital wallet.
Those who would like to trade cryptocurrencies must open a brokerage account. The underlying exchange is not directly accessed, so a broker is required. Not to worry though, this is quick and easy.
Once deciding whether to buy or trade, it is time to be more specific with the coins. There are about 2,000 cryptocurrencies available to choose from, and they are not all equally as good. Hence, the most popular ones need to be chosen. It is best to trade in the major currencies, like: 'Bitcoin', 'Litecoin', 'Ripple' and 'Ethereum'.
The cryptocurrency prices reciprocate to several factors, and speculating is not an easy task. Therefore, it is important to build up a good trading strategy based on past price movements and to find the reasons for such price movements. Usually, government regulation and USD fortunes affect the prices more.
Once a trading strategy is decided, it is time to define it in closed conditions. It should not be forgotten that cryptocurrencies are highly volatile; so, it could be risky running a large open position. It is important to close a position after the position has reached the target, or an extreme loss is risked. It is suggested that beginners try different strategies using a demo account, as it comes with virtual currencies, and real money is not involved. A demo account is commonly called, a 'practice account'.
Faint-hearted investors should not invest in cryptocurrencies. It is really not their cup of tea. Recently, in a period of about one year, the bitcoin value was as high as 19,000— it then dropped to an extreme low of 1,250.
Dealing with cryptocurrencies is best for such investors who are capable of taking some amount of risk, and who are not entirely attached solely to traditional trading. It is however, perfect for those who want to explore new technologies.
Cryptocurrencies have become a major part of the portfolios of those traders who have confidence in spread betting and who are able to effectively manage risk.
The question on how to buy, sell, and trade cryptocurrencies is now answered. But before wrapping up, it is important to understand that crypto-investment or crypto-trading is not for beginners and novice traders. It is basically for the experts who can bear some amount of risk. However, amateur traders can start with a demo account to get exposure to cryptocurrencies before putting down real money. As the crypto-market is highly unstable, one can make a profit of several folds within extremely short periods of time. Conversely, a severe loss could also be suffered due to this volatility. It is completely unpredictable, even though many claim to have the ability to speculate price movements to a great extent.
We've collected thousands of datapoints and written a guide to help you find the best How To Buy Sell and Trade Cryptocurrencies for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Cryptocurrency below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Cryptocurrency trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Cryptocurrency.
Compare Cryptocurrency min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Cryptocurrency. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Cryptocurrency that accept Cryptocurrency clients
Broker |
eToro
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IC Markets
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XTB
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AvaTrade
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FP Markets
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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SpreadEx
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Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 200 | No minimum deposit | 250 | 100 | 100 | 200 | 100 | 5 | 100 | 1 |
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Used By | 20,000,000+ | 180,000+ | 250,000+ | 200,000+ | 10,000+ | 15,500+ | 10,000+ | 142,500+ | 3,500,000+ | 10,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with etoro |
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Up with icmarkets |
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Up with xtb |
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Up with avatrade |
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Up with fpmarkets |
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Up with plus500 |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
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Up with fxprimus |
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Up with spreadex |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% 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. | 72% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | 76.4% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 | Your capital is at risk | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
AvaTrade Demo |
FP Markets Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
SpreadEx Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | US, TR |
You can compare Cryptocurrency ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Cryptocurrency for 2021 article further below. You can see it now by clicking here
We have listed top Cryptocurrency below.