What Are The Best Cryptocurrency Brokers?

The volatility of cryptocurrencies contributes to their popularity in part because these swings give traders the opportunity to profit from price changes. This type of price movement has drawn traders trying to benefit by riding the waves.

We analysed a number of cryptocurrency exchanges and platforms on user experience, costs, payment options, and cryptocurrency choices before settling on these brokers. Your particular circumstances will determine which cryptocurrency exchange or platform is ideal for you.

The trade that works best for you will depend on your unique demands, so keep that in mind. To make use of each platform's special combination of services, you might want to use several of them.

Top Cryptocurrency Brokers

Crypto.com

Since its 2018 inception, Crypto.com has allowed users to buy cryptocurrency using prepaid Visa cards. Because of its adaptability, Crypto.com is a great option for regular cryptocurrency investors who want to use their investments in a variety of use cases. Users who own the native cryptocurrency token CRO are entitled to exchange benefits such as staking incentives.

Also Read: How To Invest In Metaverse In India?

Binance

The Binance global exchange, which has the greatest daily trading volume in the world, created Binance as a US-regulated subsidiary. The minimal costs and over-the-counter (OTC) service make it a viable choice for investors wishing to make sizable purchases in the cryptocurrency markets. It offers both a simple and advanced trading platform.

SoFi

The San Francisco-based personal finance firm SoFi was established in 2011. Numerous financial services, including investing, banking, and personal loans, are provided by SoFi. They provide traditional money as well as cryptocurrency. When SoFi first launched, it served as a substitute for traditional banks allowing customers to open savings accounts, refinance loans, and more.

SoFi gives consumers the ability to invest in stocks, ETFs, and initial public offerings while also giving them the option to have SoFi automatically manage their investments at no additional cost. Thirty crypto assets are presently available for buying and trading on SoFi. It should be noted that SoFi does not currently support the deposit or withdrawal of cryptocurrency.

Coinbase

For anyone looking to enter the market, Coinbase is now a tried-and-true option. The user-friendly design of Coinbase makes it a popular choice for beginners who want to buy a variety of popular cryptocurrencies.

Through Coinbase Earn, educational materials are made available, and customers are given a Coinbase digital wallet to keep their first cryptocurrency. As a more sophisticated trading platform, Coinbase Pro is provided.

Webull

Even though Webull may not be as well-known as its competition, the commission-free trading software Robinhood nonetheless offers investors a strong selection that includes trading in cryptocurrencies. Webull does impose a spread markup of 100 basis points on each side of a trade, despite the fact that commissions are not charged on cryptocurrency trading. 

Trading is possible for a number of cryptocurrencies, including Bitcoin, Ethereum, and Cardano. Webull is a broker to take into consideration because of its charting features and strong mobile app.

Robinhood

The user-friendly trading platform Robinhood was created to provide simple access to the financial markets. Cryptocurrencies can be traded around the clock without paying a commission, and there is no minimum deposit required to start an account.

The platforms give users access to equities, options, and exchange-traded funds in addition to cryptocurrencies (ETFs). Through Robinhood Gold, traders can access advanced features such as research reports, margin trading, and fast access to larger deposits. Currently, users can transfer their cryptocurrency from Robinhood to another wallet.

TradeStation

This broker offers direct currency trading through TradeStation Crypto, with commission-based charging for traders. Traders have a few options. Pricing is determined by the balance in your broker account and the marketability of your order.

Pricing typically ranges from 0.05 percent to 0.3 percent of your order. Additionally, traders can purchase and sell Bitcoin futures and benefit from significant volume trading discounts.

CoinSwitch 

CoinSwitch is an exchange aggregator that was introduced in 2017. Therefore, CoinSwitch does not prioritise purchasing and selling cryptocurrency. It allows you to trade cryptocurrencies using an order book for additional cryptocurrencies instead.

By comparing prices from several cryptocurrency exchanges, CoinSwitch enables users to swap and sell cryptocurrencies at the best available rate.

FTX

Users have the option to issue complicated market orders to trade futures and leverage tokens, options, and MOVE contracts through the FTX US subsidiary, which was established in May 2020. 

FTX concentrates on trading bitcoin derivatives, unlike many exchanges that prioritise fast purchases or cryptocurrency trading. Additionally, traders have access to spot cryptocurrency exchange rates.

Bottom Line

In order to determine how beginner-friendly an exchange or platform is, we look for features like direct fiat purchases, managed cryptocurrency wallets for users, a simple and clear user interface, rapid signups, and decent customer support.

It must be a broker through which consumers can easily buy cryptocurrencies, rather than other traders in the open market, in order for it to be one of the finest beginner-friendly exchanges or platforms. We gave regulated platforms or exchanges with explicit, established consumer protections more weight.