Bitcoin broker near me

Plus500 disclaimer: 76.4% of retail CFD accounts lose money. While we are all familiar with the broad definition of a broker, is there something more to it when it comes to cryptocurrencies?

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Best Cryptocurrency Brokers for 2021, bitcoin broker near me.

Best cryptocurrency brokers for 2021

Daniel ‘harris’ major

I have tested 40+ crypto brokers. You can find the best cryptocurrency brokers below. This is by far the easiest way to get started with cryptocurrencies.

Cryptocurrency trading has become really popular in the past years. It’s growing more ever year.

Many big trading brokers have already added some of these cryptocurrencies. Everybody can sign up and start trading bitcoin or other crypto coins. This is the easiest and probably the simplest way to invest in cryptocurrency.

After trying out most brokers, here are the best cryptocurrency brokers:

Best cryptocurrency brokers (non-US traders only)

Plus500 – top rated trading platform

Plus500 is a big name in the trading industry. They have a really low minimum deposit requirement and a great trading site.

Buy/sell cfds on bitcoin in addition to buying stocks, commodities, forex etc (traded only through cfds). Plus500 is the most complete trading platform.

Trade cfds on bitcoin & many other cryptos

Minimum deposit is only $100

Regulated and trusted platform

Very fast signup process

Live chat

Many payment methods (even paypal)

You cannot withdraw any cryptocurrency

You have to complete a questionnaire, upon sign up

Plus500 disclaimer: 76.4% of retail CFD accounts lose money.

IQ option – lowest minimum deposit ($10)

If you don’t want to make a huge initial investment, then IQ option is the best broker for you. The minimum deposit requirement is only $10. This is by far the lowest in the industry.

You can trade many cryptocurrencies

Minimum deposit is only $10

Best trading platform

Multiple account currencies

Free demo account

Regulated by CYSEC (#247/14)

Etoro – top crypto broker

Etoro is a really popular trading site. They have been around since 2006. Etoro is regulated by CYSEC, FCA and ASIC.

Buy/sell bitcoin on etoro in addition to buying stocks, commodities, forex etc. Etoro is the most complete trading platform.

Trade bitcoin & many other cryptos

Minimum deposit is $200

Regulated and trusted platform

Australian traders are also accepted

Great support team

Many payment methods (even paypal)

You cannot withdraw any cryptocurrency

You have to complete a questionnaire, upon sign up

Etoro disclaimer: 71% of retail CFD accounts lose money.

Highlow – best all-round crypto broker

Due to regulation highlow stopped accepting traders from the EU and UK.

Highlow is an australian trading broker (AFSL no.364264). What I like most about this broker is the intuitive platform. It is so easy to use. Especially new traders will like the clean layout.

I’ve been using highlow for a few years now and I never had a problem. Highlow publishes their number of trades on the homepage. There are millions of trades on this broker each month.

I use the main platform which is web based. This means, that you don’t have to download any software. This platform is stable and safe (they use SSL).

I have also tried the ios app and the android app. They are great, but I just don’t like trading on smartphones in general.

The payouts on highlow are amazing (up to 200%, which is more than on other brokers).

Highlow is a great broker for cryptocurrencies (but only if you are not from EU,UK, US). They have a good reputation, great support team and awesome promotions for new traders.

Trade bitcoin & other cryptos

Minimum deposit is only $50

Regulated and trusted platform

Fastest signup process (no questionnaires)

Multiple account currencies

Free demo account (no registration needed)

Nadex – US traders welcome

Nadex is a CFTC regulated broker. In fact, this is probably the only US broker that has this regulation.

Only US traders are allowed on nadex. Non-US traders check out the next broker.

Update OCTOBER 2019: looks like nadex removed crypto trading. After contacting them I found out that they will add it back soon. Register on nadex now and get updated when they add it.

Recently, nadex started offering bitcoin trading.

Trade bitcoin, forex or binary options

Minimum deposit is $250

CFTC regulated broker

Great support team

Many payment methods (even paypal)

Crypto brokers with most cryptocurrencies

Here are the most popular cryptocurrencies offered by cryptocurrency brokers:

Etoro – bitcoin, ethereum, litecoin, dash, ethereum classic, NEO and ripple.

Plus500 – bitcoin, ethereum, litecoin, bitcoin cash, ripple, IOTA.

Avatrade – bitcoin, ethereum, ethereum classic, ripple, dash, bitcoin cash litecoin, monero and NEO.

Lowest minimum deposit brokers

These are the best brokers with low minimum deposit requirements:

Etoro – $200

Plus500 – $100

Avatrade – $100

This is really important because the crypto market itself is unregulated. Depositing on a regulated broker means that your money is safe.

We’ve also looked at the support team and the payment methods. You can deposit easily using multiple payment methods on the brokers below.

Top rated brokers that have cryptocurrencies

While we are all familiar with the broad definition of a broker, is there something more to it when it comes to cryptocurrencies?

Simply put, a cryptocurrency broker refers to a website that traders will visit to trade cryptocurrencies at a set price. In many ways, they are similar to forex brokers whose services are a lot more familiar to the general public.

Etoro disclaimer: 71% of retail CFD accounts lose money.

You still can’t decide which broker is best for you?

How to choose your cryptocurrency broker

Is leverage really necessary? Cryptocurrency markets are volatile in nature with prices fluctuating immensely thereby generating high profits even in the absence of leverage. But for some traders, the desire for more earnings justifies the use of leverage.

Before choosing your broker, settle yourself on whether the already immense profits that come from a cryptocurrency market are enough for you or you would like to use leverage to enhance them even further, bearing in mind, of course, that will also significantly increase the risk factor to your funds.

Negative balance protection: it is always advisable to trade with a broker that affords the negative balance protection facility. That way, you will never be at risk of losing more than what you invested in case you sustain very heavy losses.

How suitable is the required capital for you? This is another subjective part to your decision. Do you prefer trading with a small capital or bigger one to help you zero in on bigger returns? Find out what size trades your broker is offering before you open an account.

Narrow spreads for the win: let us be honest, it is only fair that your broker gets a cut from the money you generated having provided you with the essential facilities for it and all. But let us be honest, you definitely want every last dime for yourself.

A spread refers to the difference between the buying price and selling price of a trade and it varies with each broker. The spread is what counts as fees for your broker so the smaller it is, the lower the cost will be on your part.

Lets go into what aspects you as a trader must consider when choosing a broker to trade cryptocurrencies.

Which cryptocurrencies are you interested in trading?

Make sure you have decided on which cryptocurrencies you want to trade in before signing up with your broker.

If your choice is a prominent cryptocurrency like bitcoin (official site), litecoin (official site), or ethereum(official site), there will be a relatively broad availability of brokers that have trading options for those. However, less prevalent examples like monero, IOTA, or zcash may be a little harder to come by.

So study the cryptocurrencies being offered by a broker before you sign up for an account.

Pros and cons of cryptocurrency brokers

Here are some features that these broker have or don’t:
pros

Signup up with a crypto broker is probably the fastest way to get started with cryptocurrency trading

If you are less tech-savvy then a broker is safer for you

You can start buying cryptocurrency while traditional exchanges don’t always accept this payment method

Most of the time you can’t withdraw cryptocurrencies from a broker. You have to exchange it back to fiat money (USD/EUR etc.)

Cryptocurrency brokers – what to look for

Here are some of the more understated details about your cryptocurrency broker that could make your trading experiences so much more efficient and successful.

1. What are the weekend hours like?

This is a key detail that distinguishes cryptocurrencies from other prominent trading markets like forex, futures, and equity. Cryptocurrency brokers operate during the weekends as well.

There is virtually no difference in purchasing bitcoin at the end of the week as opposed to the middle of the week during peak hours.

But there is a catch. While digital currency exchanges are available during the weekend, your broker may not (why is the stock market closed on the weekend?). So in effect, if there is considerable movement within your relevant cryptocurrency market during a weekend when your broker is not operating, you may not have the ability to respond in any way.

2. How is it hedging?

Your broker is probably not keen on revealing if it is hedging cryptocurrency traders but it is important information for you to know.

Why is it so important for you to know?

Because, as a trader, you want to be absolutely in the clear regarding the policies for risk management being followed by your broker. Let us not forget that cryptocurrency markets are extremely volatile and an unhedged broker is more easily prone to major losses incurred by its clients. Naturally, those costs will warrant compensation via fatter spreads and additional costs for traders. It will be best to sign up with a broker that will not withhold the relevant information from you.

More great features you could be interested in

Commissions and trading on margin – an important thing to note while trading cryptocurrencies is that their prices tend to be more similar to equities than they are to real currencies. So your broker could be charging you commissions in addition to a wide spread on each trade. That, of course, raises the cost probably a bit much for your liking.

Another similarity with equities is that the margin conditions with cryptocurrencies are significantly more than they are with forex or cfds. Consequently, leverage is usually up to 10x. How considerable the margin rate will be for traders is down to what trading strategies and risk management they subscribe to.

Authenticity of market data – aside from merely evaluating how it influences spreads, market data for cryptocurrency CFD prices can be a good indicator of how the quality of the product will be in the future.

One of the more recent examples of this is BTC-e which was an immensely popular platform for trading bitcoin before it was shut down by feds. BTC-e was the first bitcoin exchange to incorporate forex trades and so made their exchange accessible via MT4 and supplied cryptocurrency liquidity for brokers.

But once it was shut down, every broker that depended squarely upon BTC-e was left with no hedging options or market data to put a price on its crypto cfds.

Are short sales available? For many traders, shorting is a crucial strategy option, the lack of which can be a deal breaker with a potential broker. Many brokers tend to offer ‘long’ only since there are only a few hedging solutions when opening short trades.

As you see, investing in cryptocurrencies can be a truly lucrative venture for you but only if you get it right.

And a lot of that is down to which broker you decide to trade with.

Ready to start trading?

Trade with the cryptocurrency brokers listed above to make sure that your money is safe, you pick a broker with a stellar reputation and you keep the fees low. Excel at trading bitcoin by creating your own trading strategy.

These cryptocurrency brokers make it really easy to trade bitcoin and other coins. You don’t have to be a trading expert. It helps if you know what a blockchain is or how the ledger and transactions work, but this is all optional.

Safe and reliable bitcoin brokerage

Welcome to bitbroker, UK’s premier online destination for bitcoin traders. We provide a simple, fast and secure way to buy bitcoins in the UK.

Whilst bitcoins are highly volatile, many people earn money by trading in a timely manner. By frequently looking at the price charts, you can determine if it is the right time to buy bitcoins. If you are ready to trade, create your account today and let us know if you need any assistance. We are more than willing to guide you every step of the way.

Quick and exceptional trading experience is our promise

At bitbroker, we believe that buying bitcoins should be as easy as possible for clients, which is why we use a secure and reliable platform. We have a team of friendly and trusted brokers who sell bitcoins online in the UK via bank transfers. We release bitcoins as soon as the money reaches us, which is usually instant with most banks. With over 40000 trades completed and 15000 happy customers, we are confident that you will have an exceptional trading experience through us.

Whether you are new to this trade or you are a trader who has completed many transactions before, you are in the right place. Find out how our online bitcoin trading process works and get started immediately by creating your own personalised account.

Bitmain’s contingency announcement: fuel on the fire?

25 june 2017

If you’re anything like me, you may have struggled to get through bitmain’s recent contingency announcement regarding BIP148 (a.K.A. Segwit activation) and its prediction of an imminent UASF (user activated soft fork). It was long, technical, and honestly, a little boring. Maybe that was deliberate on their part – because when you strip it down, it’s hard to deduce what their real objectives and motivations are.

Bitbroker is a trading name of bitbroker limited, a company registered in england and wales (no. 09964675).

Mailing address: 10 park place, manchester, greater manchester, M4 4EY

Contact number: +442081440023

Safe and reliable bitcoin brokerage

Welcome to bitbroker, UK’s premier online destination for bitcoin traders. We provide a simple, fast and secure way to buy bitcoins in the UK.

Quick and exceptional trading experience is our promise

Bitmain’s contingency announcement: fuel on the fire?

25 june 2017

Bitbroker is a trading name of bitbroker limited, a company registered in england and wales (no. 09964675).

Mailing address: 10 park place, manchester, greater manchester, M4 4EY

Contact number: +442081440023

Best online brokers for bitcoin trading

The best crypto exchanges for US bitcoin trading offer three essential benefits. The first, and most important, is robust security with two-factor authentication, cold storage, and integrated safe wallets. Second is a user-friendly website and platform. Third, they provide access to trading a variety of cryptocurrencies like bitcoin and ethereum.

In our assessment and ranking of cryptocurrency exchanges, we focused on traditional exchanges headquartered and regulated in the united states, as well as the incumbent online brokers in the US, which are expanding to offer bitcoin trading on top of regular stock trading (e.G. Buying shares of apple or google).

Best bitcoin trading platform

Tradestation - best trading platform

Coinbase - best crypto exchange

Etoro - low fees

Kraken - maker-taker fee schedule

Bittrex - most altcoins

Gemini - offers gemnini dollar

Robinhood - best mobile app

Here's a breakdown of some of the best online brokers for US crypto trading.

Best trading platform - open account
promo offer: commission-free trades on stocks, etfs & options trades

As a trading technology leader, tradestation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades. Tradestation crypto allows you to buy, sell, and trade bitcoin, litecoin, ethereum, bitcoin cash and XRP. Tradestation crypto caters to both institutional and recreational clients. Read full review

Best crypto exchange

Founded in june of 2012, coinbase is the largest US-based cryptocurrency exchange, housing over 20 million users. Coinbase is best known for its easy to use website and crypto trading platform, coinbase pro. Coinbase supports 14 different cryptocurrencies for trading, including bitcoin (BTC), ethereum (ETH), and litecoin (LTC), among others.

Low fees - open account
promo offer: 0% commission stocks

Etoro is great for traders seeking zero-commission stock and ETF trades, an efficient platform, and access to copy trading. That said, there are hidden fees, education is sub-par, and etoro doesn't offer the same range of investments as traditional brokers. Etoro's crypto offering includes 16 different coins. Although crypto fees are cheap, you can only withdraw your crypto assets with a dedicated etoro wallet.

Maker-taker fee schedule

Kraken was founded in july of 2011 and offers trading on 18 different cryptocurrencies, including monero (XMR), ripple (XRP), and dash (DSH). Kraken currently offers a web platform but does not have a mobile app.

Most altcoins

Bittrex was founded in seattle, washington in 2014. Although bittrex doesn’t provide a mobile or desktop platform, it still offers over 100 tradeable coins, including bitcoin (BTC), ethereum (ETH), and litecoin (LTC).

Offers gemini dollar

Founded in 2015 by the winklevoss twins, gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. Gemini lets users buy, store, and sell bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH), and zcash (ZEC), as well as the self-named gemini dollar (GUSD).

Best mobile app

Robinhood crypto allows users to trade bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), litecoin (LTC), dogecoin (DOGE), ethereum classic (ETC), and bitcoin SV (BSV). Ten additional coins can be added to a watch list. Robinhood crypto is best-fitted for users who trade multiple classes of assets. Read full review

Pricing details

Below is pricing information for each of the top online brokers for bitcoin trading. Each company uses a different structure.

Tradestation - open account
promo offer: commission-free trades on stocks, etfs & options trades

Headquartered in plantation, florida, tradestation is a wholly owned subsidiary of monex group, inc., one of japan’s largest online financial services providers. (1). Tradestation's roots date back to the 1982, when the company was formed under the name omega research. The company's flagship tradestation platform was launched in 1991, and tradestation group was a NASDAQ listed company from 1997 - 2011, until it was acquired by monex group (2).

Tradestation crypto features a simple pricing structure. Account balances below $100,000 pay a 0.50% maker fee and a 0.50% taker fee. Account balances over $100,000 don’t pay a maker fee, paying either a 0.25% or 0.125% fee based on account size. At this commission rate, it would cost $5.00 to buy $1,000 worth of bitcoin (BTC).

Coinbase - coinbase.Com

If buying bitcoin from a linked ACH account, the average commission is

1.49%. If buying bitcoin by selling another cryptocurrency you already hold in your coinbase wallet (or vice versa), then the average commission is

.50%. For example, buying $1,000 worth of bitcoin would cost

$15 from a linked bank account.

Etoro - open account
promo offer: 0% commission stocks

As an early pioneer in social copy trading, etoro was founded in israel in 2006 as a financial trading technology developer. After launching its first product, it has since grown to service over 9 million users with an innovative platform that continually evolves to be one of the largest social networks globally, with clients in over 170 countries.

Etoro charges no fees for sending or receiving transactions. Blockchain fees are applicable for sending and receiving. However, etoro does charge a conversion fee of 0.1%, set to market rates. Minimum withdrawal amounts and fees are also imposed for each type of cryptocurrency. The minimum bitcoin withdrawal amount is 0.0086 BTC and the withdrawal fee is 0.0005 units.

Kraken - kraken.Com

Kraken uses a maker-taker fee schedule with price incentives based on your trading volume over the last 30 days. For example, the average customer who trades less than $50,000 a month will pay $2.60 in fees for every $1,000 in trading volume. Fees for market makers range between 0% and 0.16%, while fees for takers range from 0.10% to 0.26%. This fee schedule, is more competitive than competitors like coinbase and gemini.

Bittrex - bittrex.Com

Bittrex has a simple pricing model, and charges a flat 0.25% on all trades. At this commission rate, it would cost $2.50 to buy $1,000 worth of bitcoin (BTC). Higher-volume traders, those trading more than $25,000 a month, should look at kraken for discounted pricing.

Gemini is much more expensive than other exchanges, charging between $0.99 - $2.99 on transactions under $200, and 1.49% on orders over $200. This means it would cost $14.90 to purchase $1,000 worth of bitcoin (BTC). Overall, gemini is the most expensive crypto exchange included in this guide, charging more than five times what other exchanges would charge for the same transaction.

Robinhood

Robinhood crypto does not charge a commission for placing crypto trades; however, it generates tiny profits from each order as it is routed. This routing practice, known as payment for order flow (PFOF), is also how robinhood makes money from stock trades. In their user agreement, robinhood crypto states that they may receive activity-based rebates from crypto exchanges, brokers, and market-makers, among other crypto intermediaries. Bottom line, since robinhood is not transparent with its pricing structure, there is a possibility the all-in costs per trade are actually much higher than some competitors. Unfortunately, there is no way to know for certain.

Pricing details per exchange

Final thoughts

Trading cryptocurrencies is becoming more widespread as investors around the globe become more comfortable with blockchain technology and the exchanges that offer online crypto trading. Security enhancements for digital wallets continue to improve as well, providing traders more confidence that buying bitcoin is safe.

Best online brokers for buying and selling cryptocurrency in january 2021

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Cryptocurrency, especially bitcoin, has proven to be a popular trading vehicle, even if legendary investors such as warren buffett think it’s as good as worthless. Part of cryptocurrency’s popularity is due to its volatility, since these swings allow traders to make money on the price moves.

For example, at the start of 2017, the price of bitcoin broke through the $1,000 barrier. By the end of the year, the digital currency had reached nearly $20,000. Almost a year later, bitcoin was hovering around $3,200. But it sprung back to life in 2019, rising to more than $10,000 and has continued significantly higher since then — crossing the $20,000 level toward the end of 2020.

It’s this kind of price movement that has attracted traders looking to ride the waves to profit. While some traders like to own the currency directly, others turn to the futures market. Futures may be an even more attractive way to play the volatility of digital currencies such as bitcoin, because they allow traders to use leverage to magnify their gains (but also magnify losses).

Where can you buy and sell cryptocurrencies?

Traditional brokers have the advantage of offering a wide selection of investible securities, though typically you can’t trade bitcoin directly, only futures. Meanwhile, crypto exchanges are limited to digital currencies, though you can own the currencies directly and can often buy several, rather than simply bitcoin or bitcoin futures, as you would with a general broker. And paypal has also gotten in on the act, allowing U.S. Users to buy and sell cryptocurrencies.

Here are the best brokers for cryptocurrency trading, including traditional online brokers, as well as a new specialized cryptocurrency exchange. You might also want to check out which brokers offer the best bonuses for opening an account to determine where you can get a little extra.

Overview: best brokers for cryptocurrency trading

Robinhood

Robinhood is a great option for buying cryptocurrency directly. Not only that, you’ll get to take advantage of the broker’s wildly popular trading commissions: $0 per trade, or commission-free. And if you’re into more than just cryptocurrency, you can stick around for stock and ETF trades for the same low price. Robinhood’s slick app makes trading so easy, though those looking for a full-featured trading experience will be disappointed.

Commission: $0

Account minimum: $0

TD ameritrade

TD ameritrade is one of the top full-service brokers on the market, and not only does it offer access to traditional products such as stocks and bonds, but it’s expanded its offering to include bitcoin futures. However, TD ameritrade does not allow trading directly in the digital currency. You’ll need to meet the account minimum to get started with bitcoin futures. (charles schwab has purchased TD ameritrade, and will eventually integrate the two companies.)

Commission: $2.25 per contract

Account minimum: $25,000 for futures

Interactive brokers

Interactive brokers allows you to buy bitcoin futures rather than owning the currency directly. And in this broker’s case, you can actually buy futures on the chicago mercantile exchange, with all-in contracts costing $15.01 with five bitcoins per contract. In addition, interactive brokers brings its full suite of investment offerings, so you can buy almost anything that trades on an exchange.

Commission: $15.01 per contract

Account minimum: $0

Charles schwab

Charles schwab is routinely one of bankrate’s picks for top broker, and this investor-friendly company offers trading in bitcoin futures. Schwab also has no account minimum, but any futures contracts you trade will require some minimum margin to hold them open. Schwab offers an attractive commission of $1.50 per contract, and if you’re able to bring big money to the table, you’ll receive a welcome bonus, too.

Commission: $1.50 per contract

Account minimum: $0, futures margin depends on contract

Tradestation

Traders have a couple options at this broker, which has rolled out direct currency trading via tradestation crypto, with commission-based pricing for traders. Pricing is based on your account balance with the broker and whether your order is directly marketable. Normally pricing ranges from 0.25 percent of your order to 1 percent. Traders can also buy and sell bitcoin futures as well as take advantage of substantial volume trading discounts.

Commission: 0.25-1 percent

Account minimum: $0, but futures margin depends on contract

Coinbase

Coinbase is a specialized cryptocurrency-focused platform that allows you to trade digital currencies directly, including bitcoin, ethereum, litecoin and bitcoin cash. In total, you’ll have access to more than three dozen cryptocurrencies. You’ll also be able to store your coins in a vault with time-delayed withdrawals for additional protection. The exchange’s commission structure is steep. It charges a spread markup of about 0.5 percent and adds a transaction fee depending on the size of the transaction and the funding source.

Commission: at least 1.99 percent of the transaction value

Account minimum: $0

Bottom line

Whenever you’re selecting a broker, it’s important to consider all of your needs. And for new traders in cryptocurrency, you’ll want to figure out whether you want to own the virtual currency directly or whether you want to trade futures, which offer higher reward, but also higher risk.

You’ll also need to consider whether you want to trade more than bitcoin, which is what the majority of traditional brokers restrict you to. If not, you may want to turn to a cryptocurrency exchange, since they offer more choice of tradable cryptocurrency.

Top 5 bitcoin OTC brokers: efficiently trade large volumes of bitcoin

What’s are bitcoin over-the-counter (OTC) brokers?

Over-the-counter (OTC) are entities that allow the buy and sell of large quantities of bitcoin and other cryptocurrencies. Otcs offer more private and personalized services to institutions and high net-worth individuals who need a high degree of liquidity and privacy. The key advantage to an OTC is that they handle large trading volumes, such as trading $100,000+ USD without price slippage. OTC traders will normally quote a strike price for the entire order block with immediate execution. This is contrasted with trading on cryptocurrency exchanges where large orders will cause the price to decrease due to a lack of buy orders. OTC desks allows institutions and high net-worth individuals to buy bitcoin without a having dedicated trading desk.

OTC offices can be either regionally located, serving local clients or global. Often major cities such as hong kong, tokyo or new york have OTC brokers servicing local clients. These brokers can provide very personalized services and even in person meetups. In contrast, global otcs such as binance OTC handles transactions over the internet.

Traditionally in the stock market world, OTC desks facilitate trading of securities that are not listed on formal exchanges, e.G. The new york stock exchange.

Benefits of trading via an OTC broker

High liquidity – dedicated traders from OTC desks will help increase the liquidity of the overall market. This means they can handle large order blocks

Fixed price – OTC brokers will over a quotation for the entire order block. This means orders are not affected by price slippage.

Easy fiat options – brokers will have local bank accounts and can sometimes even accept cash.

Disadvantages of trading via an OTC broker

Limited range of cryptocurrencies – often OTC brokers specialize on a few cryptocurrencies. This means unlike exchanges, they will no offer 100+ trading pairs.

Manual trading process – traders are executed by a human counter-party. This trading times will often be limited to regular office hours.

Large order size required – brokers often have a minimum order size, such as $100,000 USD traded within a certain period of time.

How do OTC brokers work

OTC desks have a network of buyers and sellers. The trades themselves are facilitated by OTC broker-dealer who will locate and negotiate directly with prospective buyers and sellers over computer networks or by phone. This is contrasted from trading over exchanges where the prices and order books are publicly available. For OTC desks, their broker-dealers will negotiate the trade price for you. Trades are also not publicly listed giving the parties privacy.

Therefore, to fully understand what is going on in the cryptocurrency markets it is important to consider what is also happening at OTC desks. This is because large transactions happen on them on a daily basis.

Bitcoin OTC vs exchanges

The choice of whether to use a bitcoin OTC or exchange depends largely on the volume of orders. Big players looking to buy or sell large quantities of cryptocurrencies are better off using an OTC broker. This is because a single exchange (no matter how large) will not have the liquidity necessary to fill large order blocks. Research has shown that sell orders of $30 million can significantly suppress the price of a cryptocurrency, hence causing slippages of 5-10%. This amount is much larger than the fees charged by OTC brokers. The second advantage of using otcs is that they can offer to lock in a particular quotation with the option to settle at a later time. This gives people additional flexibility to move funds from banks or cold-storage (such as the ledger nano X).

However, depending on who you are, one upside or downside of otcs is that they are not transparent. So while you can try to gauge whether there is a lot of trade flow through an OTC desk by reading their reports (if any), there is no way you can verify if they are being truthful. On the other hand you can conduct trades privately compared to on exchanges.

How to trade bitcoin with OTC brokers

This guide outlines the general steps involved in trading with over-the-counter brokers. Generally speaking, brokers provide similar on-boarding and trading experiences. It is important to remember all brokers will require verification of your identity, known as know-your-customer (KYC) registration. On top of this, brokers will verify the source of funds to prevent money-laundering.

How to trade with bitcoin OTC brokers

Sign up to the broker via website, email, call or in-person meetup. They will usually ask about the type and quantity of cryptocurrencies you would like to sell.

Every broker will require you to fill in onboarding documents and legal disclaimers. They will also ask you to provide various types of documentation such as a government ID, proof of residence and proof of income.

Once on-boarded, they will give you a communications channel. Typically this involved a messaging platform where you can request quotations for orders such as:
you: “I would like to buy 100 bitcoin”
trader: “we can offer 100 BTC at a price of $8123 USD per BTC”

You can choose whether to accept the price quotation or not. If you agree, the trade is immediately confirmed and the trade will provide you with a deposit address.

Once the deposit is received, the order is no fully executed and you will receive your trade

Top OTC brokers around the world

When trading with OTC brokers, it’s important to only use trusted and regulated brokers. This is important because of the large transaction sizes involved – you don’t want to get delayed or even scammed out of a transactions. We compiled the list of the biggest OTC brokers around the world

Buy & sell cryptocurrency in australia with bitcoin dealers

Bitcoin dealers have secure, conveniently situated exchanges established in melbourne, sydney and adelaide business hubs, which is perfect if you want to buy and sell cryptocurrency for fiat in australia, including bitcoins. You don’t have to run the risk of a large online financial transaction over your home PC which could see your cash disappear into the air when crypto trading in australia, leaving you with no bitcoins to show for it. You also do not have to make an appointment with a potentially dodgy stranger in a public place, where you could fall prey to treachery and find yourself out of pocket when you sell or buy cryptocurrency in australia.

Come and visit us at your convenience in our secure office premises, you won’t even need to make an appointment. We are happy to meet our clients old and new, face to face, and answer any questions about buying or selling bitcoin or other cryptocurrencies for cash. You will feel much more secure in taking your cash to or from our state-of-the-art offices in melbourne, adelaide, or sydney than you would in making such hefty financial transactions in less secure environments

1. Come to our secure office in melbourne, adelaide, or sydney

2. Buy or sell cryptocurrency with cash

3. It’s that simple

Who we are - the best place to buy and sell cryptocurrency in australia

If you want to know where to buy cryptocurrency in australia, and sell, then look no further than bitcoin dealer. We buy bitcoin, sell bitcoin, as well as buying and selling all other major cryptocurrencies and we make the process a simple one. We have three branches all conveniently located in the central business districts of melbourne, adelaide, and sydney. You can visit us at any time during business hours, making investements in cryptocurrency an easy process in australia. Being able to visit us and speak face to face means that we can answer any questions that you may have, and we can advise you on setting up a wallet, as well as explaining the process of how to send and receive bitcoin, and other major cryptocurrencies. We accept cash as payment methods, and we believe our services make trading cryptocurrency in australia both simple and safe.

Borrowing money using your crypto digital asset

Another unique service that we offer is allowing our customers to borrow money against their cryptocurrency. We have variable rates available depending on the amount you wish to borrow, and you can see our different rates by clicking here. Some of the significant benefits of this service are;

✓ we lend to everyone

✓ you can receive the funds in less than 5 minutes

✓ you do not require a credit check to qualify for a loan

✓ you are not locked into a contract

✓ you can visit us for a loan without an appointment

If you have any questions about the service that bitcoin dealers offer, give us a call today on our toll-free number 1800 628 831, and one of our knowledgeable and friendly members of staff will be happy to answer any questions that you may have about borrowing money against cryptocurrency.

Make an easy transfer when you trade cryptocurrency with bitcoin dealers

Among all the cryptocurrency and bitcoin australia dealers, we are the only ones that are conducting fast, secure, face to face transfers, from our offices in melbourne, sydney and adelaide cbds. Bitcoin dealers have been specialising in peer to peer cryptocurrencies since 2013, primarily dealing in bitcoin, but we also buy and sell other cryptocurrencies for cash. We know that you work hard for your cash, and mining bitcoin is no easy feat either. Our personal service offers face to face transactions, flexibility, and you also get to utilise our extensive experience in trading cryptocurrency in australia. Our extensive experience in cryptocurrency trading in australia, means that you can be safe in the knowledge that you are dealing with experts, and one of the most trusted bitcoin dealers throughout the country.

Secure locations offer convenience and safety for crypto cash exchange

For the convenience of our customers have three secure locations in australia where they can buy and sell cryptocurrency, safely and comfortably for cash. If you want to buy and sell cryptocurrency in sydney, our office is on pitt street; visit the office during our working hours with no need to make an appointment. If you wish to buy or sell cryptocurrency in adelaide, our offices are conveniently located in gawler place in the heart of the CBD, and walk-ins are welcome as there is no need to make an appointment. You can buy and sell your cryptocurrency in melbourne at our office on collins street also in the CBD, and there is also no need for an appointment. Our offices are open from 9:30 am until 5:30 PM, and you can also visit on a saturday, but an appointment will be required.

Welcome customers old and new to the best cryptocurrency exchange in australia

The world of bitcoin and other peer to peer cryptocurrencies is a new and fast-growing one, and it can seem bewilderingly intricate and remote to the new investor. Seasoned peer to peer cryptocurrency traders come to us and return to us because they know our provenance, and our expertise has earned their respect. You can make bitcoin transfer for cash quickly, and our friendly, personal service means we can be flexible about your preferred method of payment. We listen to customers old and new and do our very best to accommodate them as we want to them come back to us and recommend us to their friends.

How to invest in cryptocurrency in australia safely?

New investors or even potential investors unsure of the security and future of digital currencies are more than welcome to come and see us at bitcoin dealers to talk over this growing investment opportunity with our friendly specialist staff. We take the worry and unknown of investing in cryptocurrency in australia, and we are happy to answer any questions that you may have on this increasingly popular subject. If you need any advice in how to invest in cryptocurrency in australia, feel free to call us on our toll-free number 1800 628 831, or come visit us in our melbourne, adelaide, or sydney offices.

How to buy cryptocurrency in australia securely

Where to buy cryptocurrency in australia? We believe that the best place to buy cryptocurrency in australia, is to visit one of the bitcoin dealers offices. When you deal with bitcoin dealers you can visit our secure offices and talk to us directly before completing any transaction for your cryptocurrency. You can buy crypto in australia safely and securely at one of our city centre locations, safe in the knowledge that you are dealing with one of the best cryptocurrency brokers australia has to offer. If you have any questions about the cryptocurrency market in australia, our support team will be happy to answer these and give you the best advice on adding to your cryptocurrency portfolio. Come and visit one of our office, or you can use our contact form on our website or give us a call toll-free on 1800 628 831.

How to sell cryptocurrency for cash in australia securely

If you want to sell a wide range cryptocurrency in australia, then the process is made just as simple as buying when you visit bitcoin dealers. Selling cryptocurrency in australia can be fraught with pitfalls when you sell to an unknown source, so it is within your interests to use a safe and secure facility such as bitcoin dealers offers. No matter what type of cryptocurrency you are looking to sell for cash, visit one of our offices in melbourne, adelaide, or sydney, and we will make the process safe and secure. You can turn your cryptocurrency into cash in no time at all! You can also use our contact form to ask any questions that you may have, or give us a call toll-free on 1800 628 831, and one of our experienced, friendly, and knowledgeable advisors will be happy to assist you. Bitcoin dealers makes buying and selling cryptocurrency quick and easy, as well as safe and secure. Get in touch with us today, and we are confident that you will come back to us, again and again, to get the best deal possible.

Bitcoin could skyrocket to $300,000 by end of 2021 – ‘not out of the question’

BITCOIN hitting highs of $300,000 per coin (£224,128 per coin) by the end of 2021 is now "not out of the question", claims a popular investment analyst.

Bitcoin: cryptocurrency jumps to record high reveals expert

Cryptocurrency investment analyst willy woo tweeted: "my top model suggesting $200,000 per bitcoin (£149,419 per bitcoin) by the end of 2021 looks conservative, $300,000 (£224,128) is not out of the question." the investor has studied the bitcoin price models and announced last week that the bitcoin market had "never been so bullish for 2021". Analysing the bitcoin market cap gain per US dollar invested he added that the trajectory is "pointing to reflexivity increasing, an amplified 2021 bullish feedback loop".

The global stock market cap is also bullish.

Market analyst holger zschaepitz argued global stocks are on course for a historic $100trillion (£74trillion) mark.

The global stock market gained $2.1trillion (£1.57trillion) last week on vaccine news.

However, bitcoin pioneer max keiser suggests this sudden hike is due to debt monetisation with increased government borrowing from central banks.

Bitcoin is the world's preeminent digital currency (image: GETTY)

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Speaking to express.Co.Uk, mr keiser said: "it’s been estimated that half of the value of stocks is attributable to central bank money printing and executive stock buybacks.

"this masks the fact that 20 percent of listed US companies are ‘zombies’, their interest costs are greater than revenues, and the profits for most of the rest are actually falling."

Konstantin anissimov, executive director of CEX.IO, has spoken about the current bullish impulses in the bitcoin market.

He maintains that if bitcoin maintains its current price we could witness a surge of investment from "market participants" who might fear missing out on the next bull-run.

Bitcoin is the world's preeminent digital currency (image: GETTY)

Speaking to express.Co.Uk he said: "it is worth noting that a bullish impulse that sends these cryptocurrencies above the recent highs may be strong enough to ignite FOMO (fear of missing out) among market participants.

"only a daily candlestick close above $19,956 (£14,909) for bitcoin and $639 (£477) for ethereum will invalidate the bearish outlook.

"under such circumstances, bitcoin could rise to $24,000 (£17,930) and ethereum to $800 (£597) or higher."

How to be a bitcoin broker & make money

Owner, editor, and lead writer for cryptorials.

Cryptocurrency writer and trader since 2014.

Many people who get hooked on digital currency become so passionate about the subject that they want to change their entire career to work in this industry. Of course there are many different ways you can go about doing that, but one of the most accessible and profitable career choices is to set yourself up as a bitcoin broker.

Becoming a broker does require you to have some capital behind you, but if you are willing to start small in your spare time and build your business up gradually this shouldn’t be a stumbling block for most people – if you have enough to buy or sell a bitcoin or two for your first trade then this may well be enough to get started. Of course if you have more than that, then things will be a lot easier for you.

The risks of being a bitcoin broker

There are three main risks associated with becoming a bitcoin broker: the risk of being scammed, the risk of breaking the law or contravening regulations and getting prosecuted, and the risk of losing money due to fluctuating exchange rates.

Compliance: do you need a license to be bitcoin broker?

Whether or not you need to obtain a license to legally operate as a bitcoin broker is something of a disputed question. It will also depend on the legal jurisdiction in which you are operating (which includes the location of your clients as well as your own). The safest course of action for anybody considering getting into this business is to consult a legal adviser who can give you expert guidance.

If you live in the united states, for example, it is usually recommended that you obtain a ‘money transmitter license’, but with little legal precedent and regulators in individual states taking differing positions, the situation is still unclear. In many other countries, such as the UK for example, the situation is even less clear, as the government is taking a ‘wait and see approach’ to regulation; this usually means that people do not bother to get a license.

Being licensed usually means that you need to comply with certain requirements, such as taking the personal details of clients and keeping records for a certain amount of time.

Even in countries like the US where certain authorities state that digital currency brokerages do need a license, many trades take places on peer-to-peer websites; since ordinary users are free to buy and sell coins without registering as a business, this creates a blurred line for solo traders who are just testing the waters to get started – at which point do you cross the line from being a regular user buying and selling with other users, to becoming a brokerage business that needs to be registered? There is no hard and fast answer to questions like that and you will have to determine for yourself whether your activities may have crossed this blurred line and what your appetite for risking prosecution and fines may be.

Don’t get scammed

Scammers do target brokers and you need to take this into consideration. When you take payment using a method through which payments can be reversed or cancelled, and in return for bitcoins whose transactions cannot be reversed, you are taking a risk. A customer may try to reverse a payment themselves in order to get free coins (which you can usually challenge) or they may be a criminal who pays you with a hacked account, in which case the payment processor themselves may reverse it.

To mitigate against this you need to be well versed in the policies for each of the payment methods you choose to accept and make sure that your prices reflect the comparative risk that you are taking. You can also reduce your risk by requiring ID verification from customers.

Reducing currency risk

A broker is often ready to either buy or sell at any time, taking a profit from the difference between bid and ask prices. This does mean, however, than you risk losing money if the price changes significantly. For example, if you buy bitcoin with the intention of selling it, then the price falls by 20%, then it is highly unlikely that you will be able to sell it without taking a loss.

There is no way to mitigate against this 100%, so you need to make sure you are making enough profit to cover potential losses. But you can reduce the risk in the following ways:

Reduce your trade volume or even stop trading during periods of high volatility.

Identify trends: if you think the price is falling then reduce your buy orders or place them further from the going rate.

Peer to peer marketplaces

The easiest way to get started as a bitcoin broker is to use a peer-to-peer marketplace services where anybody can register and start buying and selling coins immediately. Most of these sites will allow you to choose between multiple fiat payment methods, including national bank transfers and digital wallets like paypal or okpay.

As both professional traders and individual bitcoiners use these sites in a very similar way there is no minimum capital requirement – as long as you have enough cash or coins to make a trade you can use a service like this, although there may be a small minimum bitcoin balance for creating your own adverts. You also don’t need to go out looking for customers – you just create an offer or respond to somebody else’s offer.

Of course the other side of that same coin (pun not intended) is that there is a lot of competition when you use something like this. It is also true that reputation – having an established history or trades through that particular site or service – is important. This means that beginners may have to start off by making trades with no profit, or even at a small loss, in order to build up a reputation and perhaps a few regular customers, before they can start getting any significant amount of business at more profitable prices.

The most popular peer-to-peer marketplace is localbitcoins. This site has a good number of users in most countries around the world, and enables trades using a wide range of different payment methods. There is also an active forum where you can network with other brokers and pick up tips and information or ask questions of more experienced traders.

Another interesting service is multisigna. The technology behind this exchange is more advanced than local bitcoin and is more secure; because it uses multi-sig security users holding coins on the site do not take the same risk, of being hacked or of the site going out of business and taking users’ balances, that you take with a centralized escrow service like localbitcoins. But there are fewer payment options and they have significantly fewer users as well.

‘over the counter’ sales

Another way to operate your business is to conduct ‘over the counter’ sales. These are larger sales negotiated with individual buyers and sellers, rather than through placing publicly viewable offers on an exchange.

The advantages of operating like this are that you make a smaller number of larger trades, meaning more profit per trade, and that you will probably not have to pay commission to work through a third party service.

The disadvantage is that you will have to find your own clients, rather than tapping into a large and established client base through on an existing exchange.

You can set yourself up as an ‘OTC’ broker by creating and advertising your own website, or through using something like the bitcoin OTC web of trust. Creating your own site comes with an additional opportunity to act as a broker for alternative cryptocurrencies as well as BTC.

Operating an exchange

White label exchange services such as the one operated by leverate allow brokers to set up their own exchange website / app with full trading platform, and even to aggregate liquidity from other exchanges.

This is a highly competitive market which will probably require a significant investment as well as a lot of work to make a success out of, but arguably offers a much greater potential profit than the other options listed here.

And also…

The lakebtc exchange is advertising the opportunity to become a ‘lakebanker’ on their website. They give few details, however, as to exactly what this entails and what terms they are offering. When I contacted them they replied swiftly asking for more details on my personal experience and circumstances, but when I replied saying that I wanted further information for this article they didn’t get back to me. I will leave it to the reader to decide if it is worth pursuing more information about this opportunity.

So, let's see, what we have: compare the best cryptocurrency brokers. Start trading bitcoin (BTC), bitcoin cash (BCH) ethereum and other coins. Choose safe and legit crypto brokers. At bitcoin broker near me