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10 Best Bitcoin Brokers in 2022

Author: Ashish Sood Updated: April 27, 2022

While in late 2017 Bitcoin (BTC) was trading at around $20,000, it stooped to almost $3,200 a year later, only to spring back to life in 2019, and continuing to appreciate overall since then. Bitcoin brokers allow trading in BTC for users who prefer ‘speculative’ over ‘buy and hodl’ approach. 

In this detailed piece, we have listed the best Bitcoin brokers in 2022, and have also gone over some basics like what a Bitcoin broker means, how it works and differs from a crypto exchange, key things to consider when choosing one, and the difference between trading and buying activity.

Our List of the Top Bitcoin Brokers

When it comes to picking the best Bitcoin brokerage services, there are all kinds of variables involved, for instance, reliability, customer service, payment methods and spreads. Keeping that in mind, this guide will list some of the best Bitcoin brokers along with their unique advantages and features.

1
Min. Deposit
$10
Promotion
User Score
10
Accepts customers from the USA
Deposit $100 and get a $10 bonus!* Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.
2
Min. Deposit
$0
Promotion
User Score
9.3
No Hidden Fees
Instant Trading
Secure & Transparent
Start Trading
Description:
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Payment Methods
Full regulations list:
3
Min. Deposit
$1
Promotion
User Score
8.7
0% deposit fees, 0% withdrawal fees, 0% trading commissions
Set up automated trades and up to 50 limit orders with ease
Buy and sell 90+ cryptos and utility tokens, precious metals and national currencies with as little as $1
Start Trading
Description:
Uphold is a platform which has over 50 cryptocurrencies to choose from. It's users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades. Users who are on Brave's internet browser can also earn BAT tokens based on their browsing habits.
Payment Methods
Full regulations list:
4
Min. Deposit
$1
Promotion
User Score
8.5
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Description:
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Payment Methods
1Pay, 2C2P, 3d Secure Credit Card, ACH, ANELIK, Abaqoos, AdvCash, AlertPay, Alfa-Click
Algocharge, AliPay, American Express, Apple Pay, AstroPay, BPAY, Bank Link, Bank Transfer, Bank Wire, Baofoo, BitGold, BitPay, Bitcoin, Boleto, Bonds, Borneo Exchanger, Bradesco, CEX.io Mobile App, CFDs, CSS System, CUPS, CartaSi, Carte Bleu, Carte Bleue, Cash, CashU, Cashier Order, Check, Check (UK only), China UinonPay, China Union Pay, China UnionPay, ClickandBuy, Commodities, Contact, Contact Z, Credit Card, Cryptocurrencies, Currencies, DCPay, DIXIPAY, Dankort, Debit Card, Dengi Online, DineroMail, DirectPay, Dotpay, E-dinar, ELV, ENets, EPS, ETFs, EXCARD, Easy2Pay, EcoPayz, Ecommpay, Ecurrencyzone, EgoPay, Emerchant Pay, Eprotections, EstroPay, Ethereum, Euro Bank Account, Euteller, Express Dotpay, Express Polish Post Office 24/7, Express Zabka Market, Ezeebill, Ezybonds, FasaPay, Fastapay, Fastbank, Faster Payments, FilsPay, Forex, GTBank, Gate2Shop, Giropay, GlobalCollect, GlobalPAY, GlobePay, Gluepay, Google Pay, Halcash, I-Account, IPS, Ideal, Indices, Individual US State License(s), Indonesia Exchanger, InstaBill, Instadebit, IntellectMoney, Interswitch, Investmate, Investmate, Itukar, KNET, Klarna, LaoForexBoard, LavaPay, Lion Payment, LiqPay, Litecoin, Lobanet, MOTO, MT4, MT5, Mailing Cash, Market Maker, Masari, Mastercard, MegaTransfer, Mister Cash, Mobile Trading App, Mobile Trading Platform, Moneta, Money Bookers, Money Order, MoneyBookers, MoneyGram, MoneyPolo, Multibanco, NETBANX, Nab, Namecoin, Neosurf, NetPay, OKPAY, OMT, OmahPoin, OnPay.ru, Online Naira, OrangePay, PAYSEC, POLi, POLi & BPay, PYEER, PagoEfectivo, Paxum, Pay Nova, PayCo, PayPal, PayRetailers, PayWeb, Payeer, Payoneer, Payonline, Payvision, Payza, Perfect Money, PocketMoni, Postbank, Powercash 21, Prepaid MasterCard, Prepaid MasterCard (I-Account), Prepaid MasterCard (Intercash), Prepaid MasterCard (Payoneer), Privat 24, Przelewy24, QIWI, RBK Money, Rapid Transfer, RegularPay, SEPA, Safecharge, SafetyPay, SahibExchange, Shilling, SmartPay, Sofort, SolidTrust Pay, SorexPay, Sporopay, Stock Certificate, Stocks, Swish, Teleingreso, Thailand Exchanger, Ticketsurf, Todito Cash, Trade Interceptor, Transact Europe Payment, Trazus, TrustPay, Trustly, UAE Exchange, UPayCard, USD, Ukash, Unet, UnionPay, Unistream, Uphold, Verve, Vietnam Exchanger, Visa, VixiPay, VoguePay, Vouchers, Wallet One, WeChat, Web Based Trading Platform, WebMoney, WebPay, Webtrader, Western Union, Wire Transfer, Wirecard, Yandex, Yandex Money, Yemadai, YuuPay, Z-Payment, Zenith, cTrader, dinpay, eCard, eCheck, eKonto, ePay bg, ePayments Transfer, eToro Mobile Trading Platform, eToro Trading Platform, eTranzact, iPay, mPay, neteller, paysafecard, postepay, skrill, unichange.me
Full regulations list:
5
Min. Deposit
$0
Promotion
User Score
7.9
Earn up to 3.5% back in crypto on every purchase
No hidden fees or minimum balance
Immediate Trade Execution
Start Trading
Description:
BlockFi was created to provide credit services to markets with limited access to simple financial products. BlockFi sets itself apart from other crypto service providers by pairing competitive rates with institutional-quality benefits. BlockFi is the only independent lender with institutional backing from investors that include Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, SoFi, and Coinbase Ventures.
Payment Methods
Full regulations list:
6
Min. Deposit
$50
Promotion
User Score
7.8
Safe & Secure cryptocurrency exchange
Impressive limits
Liquidity Accepted in over 200 countries
Start Trading
Description:
Coinmama is an exchange which offers cryptocurrency users an easy to use platform to buy and sell their crypto coins. Coinmama offers the major cryptocurrencies to purchase or sell and it is known for having excellent customer service. The Coinmama exchange has excellent security protection and offers a few different funding methods.
Payment Methods
Credit Card, Google Pay
Full regulations list:
7
Min. Deposit
-
Promotion
User Score
7.5
Sign Up Bonuses
App Available
Supports Multiple Altcoins
Start Trading
Description:
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.
Payment Methods
Full regulations list:

What Is a Bitcoin Broker?

When it comes to trading Bitcoin, you can either buy/sell the actual crypto, along with its ownership, by placing buy/sell orders on a Bitcoin or cryptocurrency exchange. Or the other option, and in fact, the most popular one is to do leveraged trading, wherein you don’t actually own the Bitcoin, but can take long or short positions in the market, based on your technical analysis, and still book handsome profits. 

The second type of trading Bitcoin activity is more speculative and involves derivative crypto products like CFDs (Contracts for Difference), Futures and Options. The entities that make it possible are called Bitcoin broker platforms. 

Unlike Bitcoin cryptocurrency exchanges where the buying and selling happen directly between traders, a Bitcoin brokerage works as an intermediary between the trader (buyer/seller) and the market. The price is set by the broker and usually includes a small premium. What makes such brokers so popular is the fact that they enable traders to take big positions and obtain major exposure, without investing plenty of capital. 

How Do Bitcoin Brokers Work?

Let’s now go over a simple step-by-step process to learn how BTC brokers work from a trader’s perspective.

Locating a good Bitcoin online broker

You must start by locating a broker which meets all your requirements. For this, you’d need to understand your objectives first and then carry out a thorough comparative analysis to find trading platforms that can help you meet each one of them with ease. 

Opening an account

Once you have decided the platform you’re going to trade on, you should open an account with them. It’s normally a 5 to 10 minutes process, and may or may not involve providing personal details like full name, address, contact details, nationality, date of birth etc. depending upon the KYC measures taken by the broker. You may also be asked to upload a government-issued ID proof. In most cases, providing a valid email address for account confirmation is a must. Once the verification/confirmation is complete, you can move on to deposit funds, such as fiat currency like USD. It’s important to note that while registering with a KYC broker crypto exchange might seem like a hassle, it’s essential for the trading platforms to keep anti-social elements at bay. 

Making a deposit    

After your account is opened, you will have to deposit funds in a fiat currency permitted by the broker. The majority of brokers accept all major fiat currencies and/or cryptocurrencies. The deposit can be done with a wallet transfer, credit/debit card, bank wire transfer, e-wallet, PayPal etc. Please note, there may be a minimum deposit required, which might vary between trading platforms.

Of all the derivative products that can be used to trade Bitcoin, trading CFDs are the most popular. As also touched upon earlier, Bitcoin contracts for difference provide you with the exposure to current BTC market price, without the need of actually purchasing and owning the coin. You can use a Bitcoin CFD to open long or short positions with a broker, depending upon whether you expect the BTC price to rise or fall. The broker will charge you a spread to open and close the trade. Any proceeds from the trades will get credited to your broker account, and can then be withdrawn easily.

Using a Broker Vs a Cryptocurrency Exchange

The biggest difference between a crypto exchange and a crypto broker is the type of trading they allow. Crypto exchanges mostly permit unleveraged trading, wherein the buyers and sellers trade ownership of the cryptocurrency and pay trading fees to the cryptocurrency exchange for its function as an intermediary. A broker on the other hand connects traders to the crypto market and usually includes its fee as a premium in the price of the coin. It also offers leveraged trading, mostly using CFDs, through which traders can speculate on Bitcoin’s price movements and take appropriate positions to book short-term profits. There is no exchange of BTC ownership and the trader can get a lot of exposure without blocking large amounts of capital.

If you're looking to find out more on exchanges then take a look at our best crypto exchanges guide.

Trading Vs Buying

Investing in or buying a cryptocurrency can be perceived as a long-term approach, indulged mostly at a crypto exchange. Trading on the other hand is a short-term undertaking which can be done at a crypto exchange and/or a crypto broker platform. The former is usually practised by conservative crypto investors who prefer buying and holding onto a cryptocurrency for the long-term, regardless of the market fluctuations in between. Trading, in that regard, is practised by short-term crypto investors, who prefer speculating on the currency’s short-term price movements, to make the most of their analysis through derivative crypto products like trading CFDs, futures and options.

Whilst buying a cryptocurrency entails using a digital wallet for its storage and indulging in a rather complex process of transferring it over a network (at the time of sale), crypto trading, as explained above, can be done without any such requirements.

Key Things to Consider When Choosing the Best Bitcoin Brokers

As far as the selection of best BTC brokers is concerned, you must go with the one that offers a competitive trading environment and can help you consistently implement your trading strategies. Having said that, there are certain considerations and unique features you must keep in mind. Some of them are listed below:

  • Regulation – It’s very important that you sign up and trade only at a regulated broker exchange. Although doing so won’t offer any guarantees against malpractices, it can go a long way in protecting you from outright thefts and frauds.
  • Spread – It’s also important to refer to the ‘spread’ offered by the broker, which implies the difference between the platform’s ‘ask’ and ‘bid’ price for Bitcoins. The spread is one of the prominent ways in which crypto brokers make money, and it’s best to go with one which offers a tight spread.
  • Payment methods – All reputed BTC brokers allow for a wide variety of funding methods including fee-free crypto wallet transfers, credit/debit cards, e-wallets and online payment processors.
  • Leverage options – It would be good if the broker offers all popular leverage options including trading CFDs. Additionally, the extent of leverage should be enough to give you a competitive edge.
  • Reputation – It’s always better to trade on a brokerage site that is actively used by a large number of traders, is well-known for its security measures and has been operational for a considerably long time.
  • Ease-of-usage and design – The trading portal should have a user-friendly interface, enabling hassle-free management of portfolios.
  • Initial deposit – The size of the initial deposit required by a broker can go a long way in improving the flexibility of your financial strategy. The smaller the better.
  • Fee Amounts  There are various fees when using a broker, which makes up a lot of the trading costs.As mentioned before you're more likely not to see trading fees with a broker but rather a premium on the coin, or withdrawal fees. It's best to be aware of any confusing fee structure.
  • Customer support – Considering that BTC is a highly-volatile cryptocurrency, you never know when you might instantly need assistance from customer service. It’s best to go with a site that offers round-the-clock support.

Pros and Cons of Using Bitcoin Brokers

Pros

There’s no requirement of a cryptocurrency wallet.
You get increased leverage, which is critical for maintaining healthy profitability.
The reputed BTC brokers offer a wide range of educational, research and trading tools.
Brokerage platforms make BTC trading extremely easy, especially for new traders.
Most of them offer round-the-clock and helpful customer support.
Trading activity on a broker website works much faster compared to a conventional exchange.
You get the opportunity to score big profits without tying up a lot of capital.

Cons

The costs can be higher owing to mark-up in the spreads.
They’re not the ideal option for hodlers and long-term investors.
You require a certain amount of knowledge and skill to make the most of such platforms.

Final Thoughts

The online crypto trading space is currently jam-packed with all kinds of Bitcoin brokers. This makes it extremely important to do ample research before starting trading at any such portal. This article should make things easier for you by providing you with a comprehensive list of best Bitcoin brokers in 2022, as well as by touching upon basics like the meaning of a BTC broker, how it works and compares against a crypto exchanges, key points to remember while choosing one and the pros & cons of such platforms.

Frequently Asked Questions

  1. Yes, all regulated crypto CFD brokers allow for shorting of Bitcoin.
  2. As long as you know what you’re doing and can successfully implement well-thought-out strategies, then yes, you can make money when you trade Bitcoin. 

  3. No, you can buy Bitcoin from any well-known crypto exchanges too.

  4. While BTC cryptocurrency trading is legal in many countries of the world, it’s always a good idea to cross-check with your local laws to confirm.

  5. You can normally locate regulatory information in the bottom-most section of the broker site’s homepage.
  6. Considering its price swings, Bitcoin trading can be termed as risky. However, that also presents an excellent opportunity to make large gains.
  7. Yes, you can trade Bitcoins at any time of the day or night, using the brokerage platforms.
  8. Yes, it’s entirely your choice. Many people do it to manage risk.
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