Compare the best Bitcoin trading platforms to find out which ones offer the features you are looking for. Check out the broker features in our top menu to get filtered broker lists.
LTC, ETH, EOS, XRP, BCH, ADA, TRX, BNB, HT, OKB, ATOM (Derivatives Trading)
Possible transaction fees depending on payment method (at fiat)
Metatrader 4 (or evenMetaTrader 5right now) is the most popular trading app for Android and iOS. It can be used to trade on a lot of major exchanges. Overall it has a pretty good reputation, especially for beginners it works well. Super pros might see some downsides, but for a beginners its anyway a useful tool to stay trading online even when you are on the go.
Trading Bitcoin is a great way to enhance the amount of Bitcoins you own. Buy low, sell high and then reinvest the gained US Dollars for an even bigger amount of Bitcoins at a point when the price has decreased again.
But how to choose the right trading platform? There are many and more solutions to choose from around the Internet. The prospective traders can look for certain features that can help the decision which platform suits best their needs.
Bitcoin trading platforms are those sites where the users can have exposure to the changes in the cryptocurrency prices, either by directly buying Bitcoins or through certificates which value is linked to the digital currency.
AsBitcoinis an anonymous digital currency by nature, it is common that users prefer to keep their profile low and do not want to share any personal details on the Internet. Before registering at a Bitcoin trading platform it worth checking first what kind of personal details are needed in order to sign up for the services. Popular trading platforms require an ID card with photo for withdrawals, but there are also options to trade anonymously for example at BitMex or at PrimeXBT.
An email address is always needed for the sign up process. To stay anonymous, you could create an e-mail address only for the usage on the broker sites. Further personal information can make the registration process long, it can even take multiple days, especially if the platform needs to verify the IDs, therefore its worth considering that part as well. This verification process is generally required, as soon as you want to exchange your BTC into cash or the other way round. So if you want to link your bank account or credit card to your trading account, you have to show who you are, of course.
In the age of smartphones, most Bitcoin trading platforms already have an application for Android or iOS which enables customers to use the services on the go and manage finances from anywhere at any time. If there is no app, the platforms are usually mobile friendly at least. Or you can mostly use a general trading App such as MetaTrader to manage your trades at a certain Bitcoin Broker platform.
Generally speaking abrokermust pay attention to the usability as client do not want to spend to much time just exploring the features, all of them should be self-explanatory.
BTC/USD is the most widespread currency pair to trade with but some trading platform offers other Bitcoin-to-Fiat currency trading option as well. The available exchange rates are usually depending on the country where the platform operates. EUR, RUB and CNY the currencies users can choose from other than US dollar.
Beside Bitcoin, currently more than a thousand of alternative cryptocurrencies, so called altcoins exists on the market. As the underlying program behind Bitcoin is open source, anyone can create a new coin on the market. Each altcoin is a different version of the original Bitcoin with some additional or alternative features included in the algorithm. The most important and popular altcoins include Ethereum, Ripple, Litecoin, Dash, Monero.
Some trading platform has the option to trade altcoins on the site, like SimpleFX and FXOpen, however most platforms only offers the option to trade Bitcoin against fiat currencies at this point. As altcoins are becoming more popular in the recent years, more and more platforms started to offer alternative cryptocurrencies. However even if altcoins are on the menu, the prices are in most cases expressed in terms of Bitcoin, so the users cannot buy or sell directly altcoins in exchange for example US Dollar.
Couple of sites also offers the possibility to execute derivatives, like options and futures on the platform. These financial products enables the users to trade on the future price of the cryptocurrency.
The trading fees are calculated based on the transaction volume just like in the case of ordinary FX trading. Higher volume means lower percentage fees per trade. The average trading fee varies between 0.01-0.5%. Anything outside of this range should warn the prospective traders about possible scams.
If margin trading is offered, that is always available for an extra fee. Trading on margin means borrowing money to increase the amount of the exposure. This leverage can increase significantly the profit at the closure of the trade, but also means higher risk to the users. Margin trading cost from 0,5-10% depending on the size of the margin, leverage can go up to as high as 500x.
Some trading platforms decided to remove the trading fees from the fee structure to increase the volume of trading activity. In that case the withdrawals are charged, whenever the user wants to unload the funds from the accounts. In some rare cases, even the funding of the balance is charged, so its worth checking the terms and conditions before sending money to the platform.
There are certain measures that can increase the security of a Bitcoin Trading Platform. These sites handle a lot of money, therefore they are subject to hacking attacks all the time. If a platform keeps the majority of the funds in a cold storage wallet and they are applying SSL certification that provides a good base for security. Two factor authentication saves the customers from unauthorized access to the accounts.
The years of experience behind a platform can be derived from the history of the company and the ownership structure. The more popular an exchange the higher volume it manages, making it a trustful trading platform across the Bitcoin community. Hopefully all exchanges continually monitor their platform for any unusual activity to protect both their franchise and their customers.
Even though the Bitcoin trading platforms make their best to be up to date with their security measures, from time to time a hacking attack hits the news. Hacked accounts, stolen Bitcoins are left behind the unauthorized access of the exchanges fund, just as it happened recently for example with Bitfinex. It is also important to examine, how an exchange coped with such attack in the past as it also shows the way they approach customers.
Bitfinex after recovering the site from the attack and counted for the loss, offered its customers newly issued altcoins in order to cover partially for their losses. Bitfinex did a real great job by creating own platform tokens for the users which had lost money. Read more about their great solution.
However no matter what types of security measure does a Bitcoin trading platform apply, traders should always follow the golden rules of Bitcoin trading, but first of all,never leave any Bitcoins long term on an exchange.
Also check out thisreddit threadabout Bitcoin brokers.
Gdax.comCoinbase.comFxopen.comKraken.comPoloniex.comBittrex.comBitfinex.comYobit.netCryptopia.co.nzDeribit.comOkcoin.comHitbtc.comCrex24.comEtoro.comThinkmarkets.comPlus500.comSimplefx.comBinance.comBithoven.comCex.ioMonfex.comBasefex.comOverbit.comBitMax.ioBitmex.comPrimexbt.comChoose Broker 2:
Avatrade.comGdax.comCoinbase.comFxopen.comKraken.comPoloniex.comBittrex.comBitfinex.comYobit.netCryptopia.co.nzDeribit.comOkcoin.comHitbtc.comCrex24.comEtoro.comThinkmarkets.comPlus500.comSimplefx.comBinance.comBithoven.comCex.ioMonfex.comBasefex.comOverbit.comBitMax.ioBitmex.comPrimexbt.comChoose Broker 3:
Dont leave your coins long term on a trading platform
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