List of Top Bitcoin Trading Sites Compare the best Bitcoin trading platforms to find out which ones offer the trade bitcoin on margin you are looking for. Check out the broker features in our top menu to get filtered broker lists. 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.
How to choose the right Bitcoin Broker Platform? Trading Bitcoin is a great way to enhance the amount of Bitcoins you own. Buy low, sell high and then reinvest the gained 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. Getting Started Anonymity As Bitcoin is 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. 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 it’s worth considering that part as well. This verification process is generally required, as soon as you want to exchange your BTC into cashor the other way round. Ability to trade on the go 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.
Generally speaking a broker must 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. 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. Some trading platform has the option to trade altcoins on the site, like Simple FX and FX Open, 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. 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. Fees 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.
Anything outside of this range should warn the procpective traders about possible scams. Margin Trading 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. 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.