Author: Robert Sammut
Trading Coach
Robert Sammut

Cryptocurrency Trading Brokers

Cryptocurrency Trading

One of the biggest benefits of crypto trading is the huge potential profit to be made.

Cryptocurrency investing involves the buying and selling of digital currency assets. It shares a lot of similarities with Forex and is becoming a great way of making money online. Crypto brokers specialise in the trading of this digital cash and signing up to the best one for you is an important factor to consider.

In this article, you will learn:

  • The vast benefits of cryptocurrency trading
  • How crypto trading works and what to watch
  • Why choosing a great broker really matters

Recommended binary Websites Updated: February 2019

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Websites You Should Avoid
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What Makes a Great Broker

Like many other brokers there are a number of factors that make a good broker. From the bonuses that they offer to the licensing and regulation, competition is fierce and there are many to choose from. Let's take a look at some of the criteria that make a good broker:

Licensing And Regulation

Obviously, like any online transacting, if you are going to put your money somewhere you need to know that it is in safe hands. Any platform where you are financially transacting needs to be licensed and regulated for you to be confident that your money is safe. Each country has its own regulator and rules surrounding regulation and you should always look for the licensing accreditation when you are selecting who to trade with.

Ease of Trading

With the evolution of technology almost everyone transacts on the move from a mobile device. As long as you have a mobile phone and an internet connection then you should be able to trade. You need to ensure that the broker offers a good mobile experience and that their platform is easy to trade on. If they don't have an app then they should at least have a mobile friendly website. Simply visiting the site from your mobile device and having a look around will demonstrate if mobile trading is feasible.

Bonuses And Incentives

From $25 welcome bonuses to 100% match deposit bonuses you will find a whole host of incentives to encourage you to open an account with a specific broker. Make sure they offer all the other criteria that we discuss before you get drawn in though. Remember, a bonus has to be traded a certain number of times before it can be withdrawn.

Customer Service

If something goes wrong, or if you have a question about an element of trading you need to know that there is someone there to help and advise you. This can be a 24-hour virtual assistant or someone on the end of the phone in trading hours. A good broker will offer a high level of customer service.

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Cryptocurrency Bonus Deals

There are many types of bonus deals available across the many brokers. Of course, there is the popular and widely offered welcome bonus which is available to all new traders. This type of bonus doesn't always require a deposit and can be used to test the platform before risking your own cash.

In fact, more and more brokers are now offering the no deposit bonus in order to remain competitive. Other bonuses include a deposit bonus which varies from broker to broker. For some it may be a percentage while others will match your deposit 100%.

There are certain criteria that come with these bonuses though. While you may get a bonus for signing up to the site you cannot withdraw the bonus until you meet a specific list of requirements. These include making a financial deposit and fulfilling a minimum trading volume.

One example of a broker requiring a minimum trading volume stipulates that $1,000,000 must be traded before a bonus can be withdrawn! Other factors require you to deposit cash within a certain time frame and proving your identity. To be fair you will be required to do this before making any type of withdrawal.

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How Crypto Trading Works

Similar to Forex trading in which you trade actual currency pairs like USD/GBP, cryptocurrency trading involves the trading of currency pairs where one or both can be a form of digital cash. An example of a cryptocurrency pair could be Bitcoin against the USD or USD/BTC. We use Bitcoin as an example because it is the most widely recognisable, but there are many types of cryptocurrency:

  • Bitcoin - The most widely recognised and pioneer of cryptocurrency
  • Litecoin - Another early entry into the market following Bitcoin
  • Tether - Matches the market value as $1USD = $1 Tether
  • Ripple - Launched in 2012 and a major player in the cryptocurrency market
  • Ethereum - Used by application developers to pay for services on the Ethereum network

These currencies are what are known as World Financial Transactions and are among the most recognisable. There are many other niches within the cryptocurrency market including Application Platforms, Private Financial Transactions and Specialty Currencies. Each of these niches contains different currencies. If trading currency markets isn't your thing you can try "Contract For Difference" trading, this type of trading spans many markets including stocks, shares and commodities.

While some people are yet to get to grips with cryptocurrencies, you may wonder if it is real money. The answer is yes! While you may not have physical coins and notes like with "real" money, digital money is an entry on a database. This isn't unlike your bank balance. Often you make a transaction, but you never see the actual cash. When you are trading online, there is no difference between physical currency and digital currency except our perception of it.

One of the benefits of crypto trading is the potential profit to be made.

How we Rate Crypto Platforms

As with all of our reviews and recommendations we don't just base our ratings on internet research alone. Our team of experienced traders actually use each and every platform to test the experience for themselves. They use their extensive years of successful trading experience to ensure that they test each site on every aspect of trading. Only when we are satisfied that they offer a good all-round service will we put our name to recommending them.

While there are many cryptocurrency platforms out there, our experience means that we know what we are looking for and ultimately, what you are looking for in a broker. We deposit funds just like any other trader, use the live platforms, test the customer service and make several transactions to get a good feel for the broker and the claims that we make.

We test all aspects of the website from its ease of use and trading on the move to the app that they may offer. We substantiate their claims through our own experience so that we can bring you enough information to make the right selection. Then all you need to do is read the reviews and select the best one for you, saving you hours trawling through the internet conducting your own research.

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Cryptocurrency FAQ

Is crypto trading legal, regulated and safe?

Yes, crypto trading is perfectly legal in most countries. Many brokers will be licensed/regulated in the country that they are based in.

Can I trade without downloading software?

Not many brokers require you to download software to trade in cryptocurrencies. If you are unsure as to whether your broker requires downloads, you can check this out before you sign up to an account.

Do I need to start trading with real money?

No, many brokers offer a free demo platform or a no deposit sign up bonus meaning you won't have to spend anything.

How can I make deposits and withdrawals?

Deposits and withdrawals can be made using the traditional digital methods; credit/debit card, wire transfer or electronic payment systems such as Paypal and Skrill. Of course Some brokers accept cryptocurrency.

What is a crypto broker welcome bonus?

A welcome bonus is a generally a pre-agreed amount of money you'll be paid on signing up to a broker. A no deposit bonus means that you can start trading without using real money.

Meet The Author
Robert Sammut
Robert Sammut
Trading Coach

Robert has consulted for Binary Options Expert for 5 years and is a well established member of the team. Whilst he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company. Learn more.

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