Buy Bitcoin Broker

The Bitpanda platform offers both a broker and an exchange. Bitpanda is the Bitpanda broker for users who are just learning how to start with buying Bitcoin and other cryptocurrencies. Bitpanda Pro is a cryptocurrency exchange for more experienced traders with some experience, professionals and institutions.

buy bitcoin broker

A cryptocurrency broker like Bitpanda provides online financial services for users who want to buy or sell cryptocurrencies. For providing this service, a broker charges these users premiums for using the platform.

Cryptocurrency brokers offer the most suitable environment for users just getting started with cryptocurrency markets and beginners who are looking to buy Bitcoin, Litecoin, Ethereum or other cryptocurrencies. Exchanging fiat currencies for cryptocurrencies, and vice versa, takes place between the buyer or seller and the broker platform.

Buying and selling cryptocurrencies on a broker holds a number of advantages for users: users can buy and sell cryptocurrencies at prices set by the broker. A cryptocurrency broker is also suitable if you want to buy a small amount of cryptocurrencies.

Bitpanda is a cryptocurrency broker that is easy to use and offers users extensive support via the Bitpanda Helpdesk. Users can exchange fiat currencies including euro, Swiss franc, British pound and US dollar for Bitcoin, Ethereum, Litecoin and other cryptocurrencies directly.

In the scope of facilitating trades, cryptocurrency brokers may also provide the service of holding cryptocurrencies for their customers. Bitpanda also supports users who prefer not to hold their cryptocurrencies using a third party wallet to buy and sell cryptocurrencies inside their Trezor and Ledger hardware wallets, thus promoting user trust.

When looking for which crypto broker to choose, you should also ensure its credentials represent a high level of competence. Your broker should have state-of-the-art security systems in place and operate in compliance with national current regulatory measures for financial services providers. You should also make sure you can access your crypto broker platform 24/7 via desktop and mobile app.

If you are interested in trading cryptocurrencies directly with other buyers and sellers, you may want to look into using a cryptocurrency exchange. In contrast to a crypto broker, a cryptocurrency exchange provides an online platform for buyers and sellers who trade cryptocurrencies for other digital currencies or fiat currencies with each other, not a broker, based on current market prices. Therefore, the exchange of fiat currencies and/or cryptocurrencies takes place directly between buyers and sellers, with the exchange operator providing the platform.

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

Bitcoin is a form of public internet money or electronic cash, known as cryptocurrency. It was launched in January 2009 after its design was published in a white paper. Bitcoin's supply is limited, and every bitcoin comes into existence through mining, where anyone from the public can verify transactions to help secure the network.

Bitcoin behaves very much like a commodity, due to its limited supply and because of the intense mining process. Bitcoin mining is akin to mining for gold, at least in the sense that it requires great effort and cost. However, bitcoin is far more efficient than gold in many ways, thanks to its use of blockchain technology, which means that all transactions are public and anyone can join the network.

Furthermore, bitcoin is highly resistant to any form of censorship, and forged transactions are impossible, thanks to the cryptographic primitives used in the bitcoin blockchain (and in bitcoin wallets).

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research, and offers crypto trading through its innovative Impact app. Read full review

Brokers that charge a commission will usually have lower spreads, while commission-free brokers will have higher spreads to make up for the difference. For example, if you buy $25,000 worth of a bitcoin CFD that has a spread of $50, that would be the commission equivalent of 0.002% of the trade value.

In other words, whether they come via spread or commission, bitcoin involves trading costs. Sometimes the fees also vary depending on whether you place a market order (to fill at the current or next available price) or if you use a limit order (to fill at a specific price or better), the latter of which can sometimes be cheaper at exchanges such as Coinbase.

Bitcoin brokers enable you to buy or sell cryptocurrency. Without a broker, you cannot safely trade cryptocurrencies like bitcoin. To avoid scams, using a trusted broker is crucial when you are trading bitcoin.

If you just want to buy and hold cryptocurrency, Coinbase is an excellent choice. Coinbase is trusted by nearly 70 million users and is highly regulated in the U.S. and other countries. That said, not all cryptocurrencies are supported or available in all regions, and if you are looking for access to more trading tools and the ability to trade in either direction (long or short) then a CFD or forex broker is your best bet.

Our research found that eToro offers the most cryptocurrency pairs to trade. With eToro, investors can buy and sell bitcoin (as the underlying asset), trade crypto CFDs, and even copy trade other investors. After eToro, other crypto brokers that offer dozens of cryptocurrency CFDs to choose from include XTB and HYCM .

Among brokers offering bitcoin underlying, Swissquote, regulated as a Swiss bank, is the safest broker. Founded in 1996, Swissquote is publicly traded (SIX: SQN) and regulated in four tier-1 jurisdictions.

Powered by blockchain technology, the price of one bitcoin reached a new all-time high of almost $70,000 in November 2021. The price gains were mostly attributed to new institutional investors entering the market and buying bitcoin.

Despite the potential for large gains, buying bitcoin remains risky. The main risk is significant volatility (price swings). If you buy bitcoin and then the price plummets, you can sustain substantial losses. Adding any leverage (trading with borrowed money) will only further increase your risk when buying bitcoin.

Also, bitcoin remains a complex financial product. Many investors have lost money simply by losing their private keys, whether through exchange hacks or because they did not secure them properly in self-hosted wallets. Using a regulated, reputable broker is essential for safely trading bitcoin.

To avoid scams, you should only use regulated bitcoin brokers. To verify a broker's regulatory status, start by determining the broker's legal name and country, and then find the appropriate regulator website to look them up. For example, a broker in the U.K. must be authorized and regulated by the Financial Conduct Authority (FCA). Here at ForexBrokers.com, we track, rate, and rank brokers across 20 international regulators.

To speculate that bitcoin's price will fall, you must open a forex brokerage account with a broker that offers bitcoin CFDs, or contracts for difference. Using a CFD, you can open a sell order (bet the price will go down) and then place your trade. To make a profit, the price of bitcoin must fall. If bitcoin rises in price, you will lose money.

If CFDs are not available, using a futures or options contract can be an alternative way to bet against bitcoin. However, bitcoin futures and options are very complex instruments, not widely available, and should only be traded by professionals.

If you are a long-term cryptocurrency investor, buying the underlying physical bitcoin is the safest and lowest-cost way to invest in bitcoin. For more active, short-term trading, Contracts for Difference (CFDs) might be your best option. Just remember: CFDs are not ideal for holding long-term positions (months or years), as the financing charges will add up over time.

In some jurisdictions, cryptocurrency is banned or illegal to purchase, trade, or own. Meanwhile, in other countries, it is perfectly legal. For example, in the United States (U.S.) and the United Kingdom (U.K.), it is legal to buy cryptocurrency from regulated brokers. However, CFDs are illegal to trade in both countries. The U.K. ban on bitcoin CFDs went into effect on Jan. 6, 2021.

If you do not want to keep your bitcoin with your online broker, you'll need to store it safely. To secure your bitcoin, you must choose a hot (online) or cold self-hosted (offline) wallet. Note: safeguarding cryptocurrencies in your own self-custody wallet comes with its own risks and responsibilities. Just like having cash in your pocket, it must be secured properly.

Yes, always use a trusted and highly-regulated bitcoin broker to buy bitcoin. Using a regulated broker will help you protect yourself from scams and keep your bitcoin secure. To avoid scams, never buy bitcoin from someone directly or from a third-party website or marketplace that is not properly regulated. For cryptocurrency that you do control, never share your seed phrase (recovery phrase) or private keys with anyone (this is the equivalent of giving them your money).

Now that you've seen our picks for the top forex brokers for bitcoin and cryptocurrencies, check out the ForexBrokers.com Overall Rankings. We've evaluated over 60 forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews.

At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score). 041b061a72