There are two ways of trading cryptocurrencies: over an exchange or with a broker. In this article, we will look into the basic things a trader has to deal with when trading cryptos over an exchange or on the online broker. We will also give you a review of the best Bitcoin trading exchanges.
Bitcoin Trading: Summary
There are two ways of trading cryptocurrencies: over an exchange or with a broker. These two do have some differences, which are not very clear to the general public. If your goal is to make trades a few times a day and pay lower fees then you need to join a trading platform such as Binance.
If you goal is to occasionally buy & sell Bitcoin with easy to use interface then just use a Broker.
Confused whether you need a trading platform or a broker? Follow this comparison chart.
Cryptocurrency Brokers are easy to use websites made for buying Bitcoin at a predetermined price.
Best Crypto Broker:
Broker exchanges are much simpler to use than trading platforms and they are also more secure, they accept many deposit options such as credit cards, Paypal and bank transfer. The downside of broker exchange is that the prices are fixed, smaller selection of cryptocurrencies to trade and no good trading tools for a long term trading strategy included. Our recommended broker exchange is Coinmamma who are leaders in this space.
Crypto Trading Platforms
Trading platforms are websites that automatically connect buyers and sellers.
Best Trading Platform:
Trading platforms are can be harder to use at the start and they usually require you to first buy bitcoin at a broker and then deposit it to their platform before you are allowed to trade. However if your goal is to trade seriously and take advantage of 120+ cryptocurrency pairs with great trading tools then trading platform is much better than a broker. Our recommended trading platform is Binance who are the biggest trading platform at the moment.