Best Bitcoin (BTC) Brokers 2022, Some Top Choices

Filtering through the many BTC brokers these days in order to find the very best is no short process. Not only is it time-consuming to investigate the many platforms that are out there, but you also need some specialist knowledge concerning what you should be looking for. Of course, if you were to try and sort the best platform to buy BTC on your own, this would strip precious time away from actually trading Bitcoin! But since you are here, you can benefit from the fact that the necessary research has already been done.

And on that note, here are our best Bitcoin brokers for 2022, as determined by some pretty stringent criteria (more on this later):

• eToro - our best overall bitcoin broker
• Pepperstone - our best bitcoin broker for low fees
• Coinbase - our best BTC broker for beginners
• Binance - our best BTC broker for enthusiasts

eToro - visit here

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

Of the four platforms discussed here, we must say that we rank eToro as the best platform to buy Bitcoin. These guys have been around since 2007, and in their 15 years of business, they have managed to establish a customer base that has now exceeded the 15 million mark. Of course, this doesn't just happen by accident. eToro has managed to stand out from the crowd for a number of reasons. This platform has one of the best social trading products in the business right now, allowing all members to copy the trades of experienced Bitcoin investors.

In addition to this, eToro has completely removed fees for both buy and sell orders associated with Bitcoin and other cryptocurrencies. This is obviously a major advantage for all eToro customers. Furthermore, the actual range of trading products is quite remarkable compared with some of the other BTC broker sites. Members have options such as standard trading, CFDs, leverage, staking, and several other options to choose from.

This is all available through a leading mobile app too, ensuring that investors can access their account through a high-quality platform from wherever they please.

Pros

• Free social trading
• Commission-free trading
• Fantastic mobile app

Cons

• Quite high fees for inactivity

>>> 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 another top BTC broker operating in many countries around the world. The site may well be positioned as a specialist in Forex trading, but Bitcoin trading has really started to boom in recent years among Pepperstone customers. And since these guys have been executing trades for various markets since 2010, we are pretty confident in stating that this is one of the more reliable Bitcoin brokers around. As for the key advantages of Pepperstone, this platform has fantastic spreads, lightning-fast execution speeds, as well as advanced trading software that every member can use.

Pros

• Favourable spreads
• Leverage of 1:20 available
• Instant execution speeds for all trades

Cons

• Small trading fees do apply

>>> 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 is another huge name in the cryptocurrency world. This site has more than 73 million active members, and it is available in over 100 countries right now. In all honesty, this is probably the best Bitcoin platform for those who are brand new to cryptocurrency. Coinbase has managed to make the buying and selling of Bitcoin and other cryptos as simple as possible. This is done through a fantastic user interface on both the desktop site and mobile app, combined with some of the simplest trading tools that we have seen. 

Coinbase is also a multi-product BTC broker, offering a digital wallet, staking, and an optional ‘Coinbase Pro’ site for those who wish to trade in a more professional environment.

Pros

• Incredibly secure platform
• User-friendly interface
• Highly-rated mobile app

Cons

• Higher trading fees than most sites

Binance - visit here

If we were to sum up the reason why we consider Binance to be one of the best BTC broker sites right now, we would have to use one word - diversity. Binance is without question one of the most extensive Bitcoin brokers in the game these days. Members have so many ways to trade Bitcoin that it can sometimes be difficult to know where to begin. Specifically, Binance enables people to trade this coin through leverage trading, traditional trading, derivatives, CFDs, and you can even join mining pools on Binance too. We also love that all of these options have been bundled up into one of the best Bitcoin trading apps that we have seen recently.

Pros

• High number of Bitcoin trading products
• Multiple trading interfaces available
• Highly secure site

Cons

• Not overly friendly for beginners

What is a Bitcoin Broker?

To summarize this in the simplest way possible, a BTC broker is a company or individual who connects buyers and sellers of Bitcoin. This is where the trading aspect comes into play. Since Bitcoin is an asset that can be bought and sold with relative ease these days, the best Bitcoin brokers are able to make this connection almost instantly. But like most brokerage services, a fee can often apply for helping investors to execute these transactions. In addition to this, most Bitcoin broker platforms give users access to more trading options compared with other types of investment sites.

For example, you might find a Bitcoin trading platform that allows users to engage in leverage or CFD trading. In these cases, you are actually trading Bitcoin based on the price, without actually owning the underlying asset. This is very different from buying Bitcoin through digital wallets or via exchanges, as discussed later. 

>>> Trade with eToro here <<<

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

How do crypto brokerages work?

Given that we have established above that crypto brokerage sites operate as an intermediary, you probably have a pretty good idea of how their services operate. Basically, since BTC broker platforms are there to connect buyers and sellers, this is the primary function that they all stick with. And thanks to advanced software and trading tools these days, this matching process between buyers and sellers is actually executed within seconds, if not instantly! Let’s run through a very quick example to highlight how this is done.

Hypothetically, let's say that you wanted to buy 5 Bitcoins through a brokerage site. Once you place the order, the brokerage platform then hunts down an eligible seller and then connects the orders together to perform the transaction. Sometimes, orders might be matched up between several individuals to ensure that things go smoothly.

What’s the difference between a broker and an exchange?

Although the terms broker and exchange are often used synonymously in the cryptocurrency world, they do actually operate in different ways. As outlined previously, a broker allows users to buy and sell Bitcoin at a predetermined market rate, but they also allow for spread bets to be made on what direction the price may go in. For the latter, the broker is simply setting up contracts and then enforcing any trading requirements moving forward. Should you be trading on a Bitcoin exchange, however, you are always buying and selling the underlying asset, usually with Fiat currency or with other crypto coins. 

What are CFD brokers?

To understand what a CFD broker is, we should probably begin by explaining what CFD stands for. In the financial world, CFD stands for contract for difference, which is where buyers and sellers speculate on the actual price of an underlying asset. The broker is the company or individual who actually sets the CFD contract up. This is referred to as CFD trading, and you can bet on the price of Bitcoin rising or falling. Of course, there are specific implications associated with whether your prediction is correct or not. 

How to Sign Up to a Bitcoin Broker

After finalizing your decision on what the best BTC platform to join is, of course, you then need to create your new account with that site. It is actually a legal requirement for all regulated Bitcoin brokers to collect information on new customers prior to letting them trade. After all, Bitcoin, and therefore cryptocurrency, are regulated assets in most parts of the world, so there are laws to follow just like any other financial market.

With this said, it is a piece of cake to create a new investment account once you have decided on a Bitcoin trading provider. Simply follow the steps outlined here to get setup:

1. Set up your new login details (email and password)
2. Provide personal details and open the account
3. Sign in and process your first deposit (debit card, e-wallets, bank transfers all supported)
4. Proceed to buy Bitcoin

Once you have followed these steps, we highly recommend that you verify your information as soon as possible. This will ensure that there are no speed bumps further down the line. In addition to this, you may want to establish a few security measures to protect your account. This may involve setting up two-factor authentication, creating unique PIN numbers to sign in, or you can even enable Face ID or Touch ID through the respective mobile apps.

>>> Register with eToro here <<<

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

How to Choose the Best Bitcoin Broker

At the end of the day, your reason for reading this is to find the best BTC platform to buy and sell Bitcoin. And we want to ensure that you make the best decision possible. So without further ado, let us show you some of the key areas to investigate before signing up with any Bitcoin broker.

Design and ease of use

Let's be honest, nobody enjoys complex navigation systems or unusual interfaces when attempting to trade Bitcoin. Therefore, we recommend that you take a few moments to browse through any Bitcoin trading platform prior to signing up. Simply head over to the platform and start flicking through the various products available - this will give you a pretty good idea of whether it is a user-friendly site or not.

Fees and commissions

By nature, Bitcoin broker platforms will typically charge small fees for helping you to execute your trade. Not only this, but some sites have started to introduce fees for things like deposits, withdrawals, and even inactivity. So as you can imagine, it is better to use platforms that have reduced, if not eliminated these fees and commissions altogether.

Reputation

Reputation is a huge area that should never be overlooked. Remember, just because a Bitcoin broker has been in the game for quite a while, this doesn't mean that they are a reliable or high-quality platform. That's why we always recommend investigating some reviews from current or previous customers to gain an idea of what you can expect from that platform.

Trading options

The great thing about Bitcoin brokers, especially the best ones, is that they tend to have a wealth of trading options available for all members. This can include leverage trading, CFDs, spread betting, and more. And since investors all have their own preferred ways for trading Bitcoin, it’s best to find a site with as many trading options as possible.

>>> Visit eToro here to get started <<<

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

Final Thoughts

Now that you have reached this point, it should be pretty clear regarding where we think you can find the best Bitcoin brokers in 2022. Of course, we are referring back to the platforms discussed earlier, and you can easily sign up with any of them right now. With that said, we do recommend that you register with eToro prior to experimenting with any of the other platforms. The reason for this is that eToro has so many benefits when it comes to Bitcoin trading. At the same time, it is one of the easiest Bitcoin broker sites to use right now.

So even if you are brand new to Bitcoin trading, eToro is a site that won’t overwhelm you. And if you are a seasoned Bitcoin trader, you will not be disappointed with what eToro has to offer.

>>> Sign up to eToro now <<<

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

FAQs

Are Bitcoin brokers regulated?

Yes. Bitcoin brokers have to be regulated in their relative countries of operation in order to legally facilitate trades for customers.

Which is the best Bitcoin broker?

Having reviewed the top brokers for Bitcoin in 2022, we are confident in stating that eToro is the best Bitcoin broker, by quite some distance. And if you want to register with eToro today, you can do so in less than five minutes.

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

Is it safe to use Bitcoin brokers?

Yes. Not only are Bitcoin brokers regulated, but they also execute thousands if not millions of trades on a daily basis. And with some platforms boasting more than 15 million members, such as eToro, it’s fair to say that they are well-trusted sites.

This article is supplied by Crypto Sitelink and is not necessarily representative of the views of The Herald