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Top cryptocurrency brokers for 2021

We found 11 online brokers that are appropriate for trading cryptocurrency.

Best cryptocurrency brokers guide

Are you interested in investing in cryptocurrency?

If the answer to this is a yes, then you will need to find the right cryptocurrencies brokers whocan accommodate you with the best facilities to trade on the cryptocurrency markets.

Before proceeding, lets cover the real definition of cryptocurrency.

Defining cryptocurrencies

In short, cryptocurrencies are digital or virtual currencies.

These currencies are reliant on cryptography to ensure the security and verification of each digital transaction.

Cryptography can control the number of units and prevent the change of code of the cryptocurrency unless some conditions are met.

The important characteristics of the cryptocurrencies

For some people, cryptocurrencies are the savior of the economy. This is because these can give the perks that not all banks or other financial institutions can provide.

Here are the unique characteristics of the cryptocurrencies which you cannot find in the conventional means of transactions.

No third party involved

There will not be third parties like financial institutions, governments, or any other third party organizations which govern the transactions between you and your recipients, and vice versa.

There is no third party that will intervene in your transaction. And it is a win-win solution with the P2P or peer to peer network. You can send cryptocurrencies through the P2P network and the other users will also be able to do the same for you.

Cryptocurrencies have more transparency

The problem with the conventional transactions is that one can ask for a refund and this will procure such unfortunate things to only one party.

As an example if your buyer has sent you a payment and you have delivered the goods but before the goods reach their destination, your buyer reverses the transaction your result could be that you will not receive the money you are owed and your buyer may have lead you.

You can avoid this issue with the cryptocurrencies transactions as these transactions are irreversible.

Not a single party can alter your transactions and this is why it can offer you more transparent transactions than the conventional fiat currencies.

Decentralized

There is no centralized place to transact at all so you can eliminate the high rates of fees when transferring money.

The cryptocurrency is maintained through the ledger technology called the blockchain. The blockchain prevents all other entities from tarnishing the data. Not a single person can alter the system so that your transactions will be safe and sound. We will discuss blockchain next.

Blockchain definition

Blockchain is bitcoin technology comes in the list of recorded data blocks, which are gathered by cryptography.

The recorded data in the blockchain is referred to as ledger. When there is a new data exchange, usually a transaction, a new block is added to the ledger or the blockchain.

In summary, the blockchain or ledger contains important information.

Cryptocurrency brokers

The era of virtual coin is upon us and is paving a golden path for traders. When trading cryptocurrency it is important to trade through reputable cryptocurrency brokers.

We list some notable cryptocurrency brokers below:

Etoro - being one of the top-rated cryptocurrency brokers it offers several currencies including ethereum, ripple, bitcoin and dash.

XTB - XTB too has a good name among traders and offers a wide range of such virtual currencies including litcoin, ethereum and bitcoin. It is placed as one of the top 5 cryptocurrency brokers in the industry.

Plus500 - it offers crypto throughout the day and night with good leverage for the most popular currencies like litecoin, ripple, neo, ethereum and bitcoin.

What is cryptocurrency?

Cryptocurrency is a virtual coin and is traded on cryptocurrency exchanges through cryptocurrency brokers.

Lately, cryptocurrency has continued to gain popularity. This has opened up lots of new trading tools and ways to trade including contracts for difference (CFD). They earn from the difference between the cost of an asset at the present time and what value it could become in the future.

Cryptocurrency wallets

Similar to other wallets this too facilitates storing, sending and receiving the currency. We explain the three types of cryptocurrency wallet below:

The hardware wallet

The hardware wallet is the most secure crypto wallet as all the data is stored offline. A few of the good examples are trezor, keepkey and ledger nano S.

The paper wallet

A paper cryptocurrency wallet is popular and it is secure. However, it is not as convenient as the hardware wallet.

The software wallet

The software wallet is the most conveniant among the three and can be managed from a desktop or mobile phone device. Some of the cryptocurrency wallets of note are exodus, jaxx and electrum.

Cryptocurrency exchanges

A cryptocurrency exchange is a place where buyers and sellers meet for the purpose of buying, selling or trading the virtual coins with the help of couple of cryptocurrency brokers.

Binance exchange is the most famous cryptocurrency exchange in the world and it offers crypto to crypto trading.

Combase is popular too and it offers trading on 100s and 1,000s of virtual currencies like litecoin, ethereum classic and bitcoin.

Localbitcoins, on the other hand, offers over-the- counter trading of virtual coins. Traders can post a currency for sale on its websites mentioning the rate and payment methods.

ICO and token

Abbreviated for initial coin offering the ICO is a kind of fundraising for a start-up. It is done by selling underlying tokens against ethereum or bitcoin.

ICO is similar to IPO in which traders buy company shares. Investors take an entry at early stage of the project and so are capable of making a profit with the success of the company.

However, one basic difference between the two is that any person from any place in the world can take part in the ICO.

Token meanwhile is a kind of cryptocurrency too but represents a specific asset. It is sometimes used as loyalty points that can be redeemed against discounts. It can also represent something uncommon like one token is 5 bitcoins.

The cryptocurrency mining

Just a little different with the fiat currencies, the cryptocurrencies are usually mined by miners. So, there is a phrase to describe the activity as the cryptocurrency mining.

To define it, it is a process in which the miners use powerful resources, in this case computers and adequate hardware to solve mathematical problems. These complicated problems need to be solved in order to attain the rewards.

To make it more challenging, these mathematical problems have cryptographic hash functions which are linked to the block which contains the information of the transaction.

These mathematical problems are tempted to solve with multiple miners.

So, when figuring out solutions for the problems, miners are competing with other cryptocurrency miners. It is about winning and losing. The winners will get small amounts of cryptocurrency.

The reward comes from the transaction fees the users pay. At least that is how major cryptocurrencies conduct and the other factor which also gives the rewards to the miner is the release of new cryptocurrency.

Cryptocurrency wallet

The cryptocurrency wallet is a digital wallet which the users use to deposit, store, hold, send, and receive digital currency or cryptocurrency.

Do not mistake it with concepts like paypal, payza, or various other digital currency systems. The crypto wallets do not serve as the storage of the cryptocurrency. The wallets only store the information in the form of public and private keys.

Meanwhile, the crypto itself is inside the blockchain. The users do not necessarily store their cryptocurrencies in their wallet. In summary, the cryptocurrencies wallet stores the important information which you can use to access your crypto assets.

Cryptocurrency exchange

When you have the cryptocurrencies assets, you may want to sell it to other users or, you could want to trade the cryptocurrencies. Here is where you will need to use a cryptocurrency exchange.

The cryptocurrency exchange is a platform which allows the users to buy, sell, or trade the cryptocurrencies.

Some exchanges only provide crypto-to-crypto trades, but some also allow the crossover currencies so that you can trade from crypto to fiat or fiat to crypto.

There are many cryptocurrencies exchanges that you can find on the internet. Some of them offer the trades for common cryptos such as BTC, ETH, BNB, USDT, and so on. But some also offer more wider array of currencies exchange.

Cryptocurrency brokers verdict

In current times, it is not exaggerating to say that cryptocurrency is the most volatile asset class that you can find.

It is due to the fact that it comes with the high speculative market not to mention that it currently disrupts the conventional economy so that many established players don�t see it to have inherent value.

Therefore, it is still safe to use the cryptocurrencies but in addition to fiat currencies.

We've collected thousands of datapoints and written a guide to help you find the best cryptocurrency brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best cryptocurrency brokers below. You can go straight to the broker list here.

Reputable cryptocurrency brokers checklist

There are a number of important factors to consider when picking an online cryptocurrency trading brokerage.

Check your cryptocurrency broker has a history of at least 2 years.

Check your cryptocurrency broker has a reasonable sized customer support of at least 15.

Does the cryptocurrency broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

Check your cryptocurrency broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

Does your cryptocurrency broker have an international presence in multiple countries. This includes local seminar presentations and training.

Make sure your cryptocurrency can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering cryptocurrency brokers.

We compare these features to make it easier for you to make a more informed choice.

Minimum deposit to open an account.

Available funding methods for the below cryptocurrency brokers.

What you are able to trade with each brokerage.

Trading platforms offered by these brokers.

Spread type (if applicable) for each brokerage.

Customer support levels offered.

We show if each brokerage offers micro, standard, VIP and islamic accounts.

Top 15 cryptocurrency brokers of 2021 compared

Here are the top cryptocurrency brokers.

Compare cryptocurrency brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are cryptocurrency brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more cryptocurrency brokers that accept cryptocurrency clients

Cryptocurrency trading UK for 2021

We found 11 online brokers that are appropriate for trading crypto.

Cryptocurrency trading UK guide

Cryptocurrency trading - UK

We will discuss some recommendations about 'cryptocurrency trading - UK' in this article. The first thing that should be considered is how to opt for the best platform. Safety should be a top priority while choosing a platform for making an investment from one's savings. Of course, the best platforms are those which are regulated in the united kingdom, or some other jurisdiction.

The second criteria would be to look at the list of cryptocurrencies being offered. There may be plenty of offerings available, but at least a couple of them should meet personal requirements. The next criteria, a vital one, would be to consider the cost of trading on the platform and determining the easiest process of withdrawing money from it.

Cryptocurrency trading - UK: market

Between 2015 and 2017, the 'cryptocurrency trading - UK' market surprised many with a massive price explosion. The market was highly volatile, and bitcoin's performance was spectacular. It experienced unprecedented gains and hence, the 'cryptocurrency trading - UK' market became extremely attractive, with respect to its potential as an investment vehicle.

Is cryptocurrency trading - UK a hype?

As more people are showing interest in the cryptocurrency market in the united kingdom, some are arguing that it could all just be a hype. They are correct to some extent. As other asset classes have recently yielded a maximum of about 30 percent a year, bitcoin, and a couple of other digital coins, have yielded growth of 1,000 percent. The cries of a bubble are still attracting investors, and they believe that the 'cryptocurrency trading - UK' market is currently a perfect way to expand their portfolios.

Buying cryptocurrency

The easiest trading method for cryptocurrency is to buy digital coins and hold them. Cryptocurrencies can be purchased from exchanges.

Buying vs trading cryptocurrencies

The two terms differ slightly here, as they are different than in other asset classes. When buying the coins, one needs to pay the entire traded volume. It is basically a pure investment. Trading is something that is short-term, and a trader may not need to pay the entire traded volume if trading through cfds, which are financial derivatives.

In cfds, a trader does not own the asset, but speculates on price movements. The difference between the opening and closing position is either profit or loss. If the speculation turns out to be correct, it is a profit. If not, it is a loss.

The cryptocurrencies in cfds are offered by brokers; although, mostly by online brokerage houses. They attract traders because limited capital is required to gain an exposure to a comparatively larger volume of trade.

What are cryptocurrencies?

In simple terms, cryptocurrencies are digital coins, or cash, that can be used in making payments or settlements. Most cryptocurrencies use blockchain technology to confirm double-spend protection. They are decentralized, which means they are not controlled by any central bank, country, or authority.

How cryptocurrencies work

The digital cash is also termed, 'tokens'. These are exchanged by owners in a peer-to-peer manner. There is no intermediary involved. The market defines the value of the coins, which reside on a decentralized network (sometimes centralized). Bitcoin is the first cryptocurrency, and its network is decentralized in nature. The network becomes more decentralized as more and more people stake, or mine, the coins.

Miners are in fact the backbone of the network, and stand as 'proof of work' in this ecosystem. Mining is the churning of data via specialized hardware, along with verifying and adding transactions.

Blockchain is a series of such transactions, the newest always being added to the front. Blockchain is also defined as a 'digital ledger of transactions'.

Pros and cons of bitcoin

Bitcoin has been in existence for about a decade now. It is a highly volatile asset. Over the years it has experienced several booms and busts, but undoubtedly, the coin has managed to keep the gains. It 'halfs' the total number of coins after every four years in order to keep the supply restricted and reciprocate with increased value.

How bitcoin retains its standing as the largest cryptocurrency

Bitcoin has the first-mover advantage. It has proved its feasibility since being founded, about a decade ago. It is in fact, termed as 'programmable money', and some of the biggest minds have been backing it.

Cryptocurrency trading UK verdict

'cryptocurrency trading - UK' is a fairly new phenomenon, occuring after the corona pandemic. A slight global recession and increased inflation have made investors and traders turn their attention toward digital coins. They aim at taking advantage of cryptocurrency volatility, and make money within the shortest time possible, as opposed to other asset classes. However, it is always suggested that one 'not keep all their eggs in one basket'. Cryptocurrency could work best as a small part of the overall financial portfolio.

We've collected thousands of datapoints and written a guide to help you find the best cryptocurrency trading UK for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best crypto below. You can go straight to the broker list here.

Reputable cryptocurrency trading UK checklist

There are a number of important factors to consider when picking an online crypto trading brokerage.

Check your crypto broker has a history of at least 2 years.

Check your crypto broker has a reasonable sized customer support of at least 15.

Does the crypto broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

Check your crypto broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

Does your crypto broker have an international presence in multiple countries. This includes local seminar presentations and training.

Make sure your crypto can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering crypto.

We compare these features to make it easier for you to make a more informed choice.

Minimum deposit to open an account.

Available funding methods for the below crypto.

What you are able to trade with each brokerage.

Trading platforms offered by these brokers.

Spread type (if applicable) for each brokerage.

Customer support levels offered.

We show if each brokerage offers micro, standard, VIP and islamic accounts.

Top 15 crypto of 2021 compared

Here are the top crypto.

Compare crypto min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are crypto. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more crypto that accept crypto clients

Cryptocurrency trading

Trade eight cryptocurrencies including bitcoin, ether, ripple and litecoin – no wallet needed. Or get broad exposure in a single trade with our crypto 10 index.

Cryptocurrency trading is only available to professional traders.
Find out more about our professional account

Our helpdesk is available 24 hours a day, from 8am saturday to 10pm friday. Call 0800 195 3100 or email newaccounts.Uk@ig.Com .

Why trade cryptocurrencies with us?

If you’re a professional trader looking to trade cryptocurrencies with spread bets or cfds, you’ll be able to:

Trade rising and falling prices on leverage to make the most of volatility 1

Our deep internal liquidity means there’s more chance of executing a trade at your chosen price

Protect your capital with guaranteed stops 2

Safely and easily deposit and withdraw funds. We’re a regulated FTSE 250 company

Speculate on ten cryptos, or get wider exposure to the market with our crypto 10 index

Tax-free profits when you place a spread bet on cryptos 3

Cryptocurrencies you can trade with us

Professional traders can also trade our crypto 10 index, getting simultaneous exposure to the ten largest coins with a single trade.

Live prices on popular cryptos

Prices above are subject to our website terms and conditions. Prices are indicative only.

Ways to trade cryptocurrencies with us in the UK

crypto spread betting	crypto CFD trading
main benefits	profits are tax-free in the UK 3	tax-deductible losses are useful for hedging 3
available to	professional clients only	professional clients only
traded in	£ (or other base currency) per point	contracts
tax status	no capital gains tax (CGT) or stamp duty 3	no stamp duty, but you do pay CGT. Losses can be offset as a tax deduction 3
commission	commission-free (just pay our spread)	commission-free (just pay our spread)
platforms	web, mobile app and advanced crypto trading platforms	web, mobile app and advanced crypto trading platforms
learn more	learn more

What is cryptocurrency trading?

Cryptocurrency trading is a way for professional traders to speculate on the market price of cryptocurrency with financial derivatives like spread bets and cfds.

What are the benefits of cryptocurrency trading?

The main benefits of crypto trading include tax-efficiency, 4 the ability to open a position with leverage, and the option to speculate on prices rising or falling.

Plus, you’ll never need an exchange account or digital wallet.

Who can trade cryptocurrencies?

To trade cryptocurrencies, you’ll need to have a professional trading account.

If you do, then you’ll be able to reap the benefits of trading cryptos with financial derivatives like spread bets or cfds.

How much will I have to pay?

Margins

Spread bets and cfds are traded with leverage. This means you can gain or lose a significant amount more than you deposit. Though not actually a cost to you, the margin you pay makes a big difference to the affordability of your trade.

Spreads

Your key payment for trading cryptocurrencies is the spread – the difference between the buy and the sell price. Essentially, this is our commission for executing your trade – and we work to keep our spreads among the lowest in the business.

Spot FX	professional margin what is this?	Leverage equivalent
bitcoin	4.5%	1:22
ether	4.5%	1:22
ripple	4.5%	1:22
bitcoin cash	9%	1:11
litecoin	9%	1:11
EOS	9%	1:11
stellar	9%	1:11
NEO	9%	1:11
crypto 10 index	9%	1:11

spread betting	cfds	MT4
bitcoin	36	36	36
ether	1.2	1.2	1.2
ripple	0.36	0.36	0.36
bitcoin cash	2	2	2
litecoin	0.4	0.4	0.4
EOS	4	4	4
stellar	0.2	0.2	0.2
crypto 10 index	38	38	n/a

How much will I have to pay?

Margins

Spreads

Spot FX	professional margin	leverage equivalent
bitcoin	4.5%	1:22
ether	4.5%	1:22
ripple	4.5%	1:22
bitcoin cash	9%	1:11
litecoin	9%	1:11
EOS	9%	1:11
stellar	9%	1:11
NEO	9%	1:11
crypto 10 index	9%	1:11

spread betting	cfds	MT4
bitcoin	36	36	36
ether	1.2	1.2	1.2
ripple	0.36	0.36	0.36
bitcoin cash	2	2	2
litecoin	0.4	0.4	0.4
EOS4	4	4	4
stellar	0.2	0.2	0.2
crypto 10 index	38	38	n/a

The UK’s best crypto trading platform

Discover crypto opportunity on the UK’s best web-based platform and mobile trading app, 4 as well as popular third-party platforms including metatrader 4.

The latest crypto news

Coinbase IPO: what you need to know on coinbase shares

Ethereum approaches all-time high as whales buy and bitcoin thrives

Bitcoin: is tighter scrutiny likely?

Bitcoin: is a price correction looming in 2021?

Under FCA rules, only professional traders can trade cryptocurrency with derivatives like spread bets and cfds. Learn more about professional trading and check your eligibility on our professional account page.

Our crypto 10 index tracks the price of the top ten cryptocurrencies, changed every quarter:

Bitcoin

Ether

Ripple

Litecoin

Bitcoin cash

Bitcoin SV

Cardano

Monero

Stellar

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Trade ‘the silver to bitcoin’s gold’ – whether it’s headed up or down, with no need to own coins.

Discover everything you need to know about trading the next bitcoin halving.

1 while leverage magnifies profits, it will also magnify losses.
2 guaranteed stops incur a small premium if triggered.
3 tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.
4 best trading platform as awarded at the ADVFN international financial awards and professional trader awards 2019. Best trading app as awarded at the ADVFN international financial awards 2020.

Markets

IG services

Trading platforms

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Spread bets and cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and cfds with this provider. You should consider whether you understand how spread bets and cfds work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

The value of shares, etfs and etcs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

CFD, share dealing and stocks and shares ISA accounts provided by IG markets ltd, spread betting provided by IG index ltd. IG is a trading name of IG markets ltd (a company registered in england and wales under number 04008957) and IG index ltd (a company registered in england and wales under number 01190902). Registered address at cannon bridge house, 25 dowgate hill, london EC4R 2YA. Both IG markets ltd (register number 195355) and IG index ltd (register number 114059) are authorised and regulated by the financial conduct authority.

The information on this site is not directed at residents of the united states, belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Top 10 online cryptocurrency trading brokers

The pioneer of social trading is now offering an exclusive opportunity for investors who want exposure to the most popular cryptocurrencies like bitcoin, dash, ethereum and more. Trade crypto 24/7 at etoro with no rollover fees!

World's leading social trading platform

Proven track record of security

Unlimited daily withdrawals

Min. Deposit of $200 to get started

Instant trade execution

With over 30 years of trading experience and trades in over 50 countries, city index is a leader in spread betting, CFD and forex trading. Trade in 12,000+ global markets including bitcoin, indices, shares, forex and much more.

Trade on 12,000+ markets including bitcoin

Trade anytime, anywhere. Across all devices

Risk management & transparent pricing

Fast execution on every trade

Thanks to an excellent reputation, high trading standards, and multilingual customer care, avatrade has become one of the industries leading brokers. Offering highly competitive spreads on a wide variety of trading investments.

Get up to 14,000 bonus

No commission/no exchange fees

Trade a wide variety of crypto cfds

With markets.Com get ZERO commission trading on cryptocurrency, forex and commodity cfds with one of the most sophisticated trading platforms in the industry.

No commission trading

Use paypal to trade bitcoin futures

Advanced innovative trading platforms

Easymarkets was formed by bankers and forex experts and has been serving the forex market for 16 years, with transparent pricing, fixed spreads and no commissions on deposits or withdrawals. Now with cryptocurrency cfds!

Demo account is unlimited

Trade bitcoin with no slippage - ever!

No commissions or sneaky fees

T&C's apply to each of the offers above, click "visit site" for more details.

Risk warning: users should be aware that all investment markets carry inherent risks, and past performance does not assure future results. Trading of any kind is a high-risk activity, and you could lose more than you initially deposited. Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 73-89% of retail investor accounts lose money when trading cfds. Please be sure you thoroughly understand the risks involved and do not invest money you cannot afford to lose. Your capital is at risk. Advertiser disclosure: topbrokers.Trade is an independent professional comparison site funded by referral fees. The compensation topbrokers.Trade receives is derived from the companies and advertisements featured on the site. Due to this compensation, we can provide our users with a free comparison tool. Unfortunately we are unable to list every broker or exchange available, however, we do our best to review as many as possible.

How to get started in cryptocurrency trading

As the trade volumes are reaching billions of dollars a day and the market caps are hitting tens of billions of dollars, it is no wonder that cryptocurrencies fuel the modern day gold rush. Today is an age of digital currencies, with hundreds of cryptocurrencies birthed within the decade. There are already more than a thousand cryptocurrencies in the market, and almost daily a new initial coin offering (ICO) appears.

What is cryptocurrency?

Today, the most famous cryptocurrency is bitcoin. Its inventor attempted to build a “peer-to-peer electronic cash system”. Many have tried this system many times before. However, the main difference between bitcoin and the previous efforts, like digicash, was that it was to be entirely decentralized. Since no overarching entity is controlling the currency, the notion of “trust” would be eliminated from the system.

To combat “double spending”, the major problem in all the digital cash systems at that point, satoshi nakamoto, bitcoin’s inventor, proposed the blockchain technology. The blockchain technology is a revolutionary technology that records all the transactions made with this currency.

For any single balance, transaction, or change to the network to take place, there needs to be a consensus amongst those who validate the network – the miners. Since the invention of bitcoin, many programmers have attempted to use the model and change it to provide what they consider a more functional form of digital cash.

The other kinds of cryptocurrencies include monero, new economy movement, litecoin, and ether. Many of these cryptocurrency efforts tailor their currency for an individual and particular purpose. Some of the most common purposes are speed, privacy, and price.

What are cryptocurrencies used for?

Since cryptocurrency is such a new technology, it may be that people have not used it yet for its eventual use. Still, today people utilize it for many various purposes. These purposes include, but aren’t limited to the following: trading, remittances, payment for goods and services, investment, gambling, private monetary transactions, and as a hedge against national currencies which are suffering from rapid devaluation (greece, venezuela for example).

As the whole cryptocurrency space begins to expand, it’s likely that we will see some additional applications joining the list of purposes for the crypto currency. There are already young services such as steemit, which aims to revolutionize the way people pay for content on social media, in addition to services like musicoin which attempts to find a more equitable way to pay artists without the need for a middleman.

What is the difference between bitcoin and ethereum?

All cryptocurrencies have their own characteristics. However, recently one coin has come to challenge bitcoin more than ever before. Ethereum is the new player on the market. The reasons that it is a challenge to bitcoin are easy to understand.

Ethereum emerged as an effort to try to correct some of the main criticisms made towards bitcoin – especially regarding security.

What ethereum has accomplished to do was to provide transactions that are safer, more flexible contracts that are compatible with any wallet, with short block times for negotiating (where the confirmations are easier). Also, ethereum is available more than bitcoin. Whereas more than two-thirds of bitcoin has already been mined, access to ethereum is still widely available. Another main difference between these two cryptocurrencies is that ethereum allows for different developers to raise funds for their projects. It can, therefore, be in itself a kickstarter for some projects.

One of the main advantages to ethereum is that it’s a more secure, easy to use, flexible, and transact coin. In addition to this advantage, it has brought innovations in terms of entrepreneurship and investment. And this is posing a serious challenge to bitcoin’s market cap.

What is the difference between a cryptocurrency exchange and a cryptocurrency broker?

You can invest in cryptocurrency in two ways. First, cryptocurrency can be bought and sold at a cryptocurrency exchange and stored in a digital wallet. The second method would be to invest in crypto as a CFD with regulated cryptocurrency brokers. With CFD cryptocurrency trading, the digital currency is treated as a speculative investment and traded as a contract for difference (or CFD), through brokers.

Platforms that allow traders to buy and sell cryptocurrencies are cryptocurrency exchanges. Dues to the fact that it is a very recent – and booming – market, the majority of these platforms are relatively new. But, of course, one of the essential questions that people ask is how to know if a particular platform is safe or not.

The only way that you can find out is to check if the exchange provides transparent data of the coins that are in cold storage. What this means is, whether it has the reserves that it requires to provide liquidity to its activities. You can find check this easily by checking whether an exchange is regulated or not.

Trade cryptocurrency online using CFD services

If you are interested in trading because of the opportunity to profit from the incredible volatility of cryptocurrency, your best option is to use an online trading platform that allows CFD services. Currently, there are very few CFD platforms that allow this kind of trade, so to see available options refer to our recommendations above.

CFD brokers are a great option if you want to trade cryptocurrencies with the option to accept multiple forms of payment. If you want to buy cryptocurrency with paypal, you can, and these forums also accept major credit cards and wire transfers as well. Furthermore, if you choose to trade through a forex or CFD platform, you will pay the lowest commissions possible. That is in comparison to other investment alternatives. CFD and forex companies use an exchange rate that is an aggregate of different crypto exchanges.

Trading cryptocurrencies – getting started with cfds (contracts for differences)

Cryptocurrency cfds allow you to trade digital coins without actually owning any. Crypto cfds were generated to give traders exposure to the cryptocurrency market without the need for ownership.

Contracts for differences, also known as “cfds,” represent a contract between trader and exchange. Cfds declare that the difference between the price on entry and the price on exit will be a trader’s profit or loss. Basically, cfds are an agreement held between two parties that simulate an actual asset.

How to make money trading crypto

There are several ways to make money cryptocurrency trading. The most popular is trading bitcoin against the US dollar, known in market terms as the BTC/USD pair. The first method is to find a top cryptocurrency broker and to invest in a digital currency in the same way that you would do with a physical currency – by buying low and selling high. Since cryptocurrency is highly volatile, you should be able to identify the dip with studying and market research.

Read on to learn how to find the best cryptocurrency brokers. Be sure to review the platforms we suggest above, all are fully-registered and come highly recommended. For additional information regarding trading cryptocurrency as a CFD, check out our guide on “the basics of cfds“. It’s important that you remember that leverage works both ways and it will magnify the gains and losses.

How to choose the best cryptocurrency trading broker online

Because there’s so much competition in the market as well as having countless cryptocurrency brokers to choose from, it can be difficult to know which option will be best for you. Here are a few key points we suggest keeping in mind when deciding how to best invest:

Regulation

Each country has its own regulatory body. The regulatory body develops rules, services and programs to protect the integrity of the market. The regulators protect traders, and investors as well as the cryptocurrency brokers themselves. Their main obligation is to help members meet regulatory responsibilities. Due to potential safety concerns regarding deposit, you should exclusively open accounts with regulated firms.

Customer service

Cryptocurrency trading takes place 24 hrs a day, so customer support should be available at all times. Ideally, you will want to speak with a live support person rather than a time-consuming auto-attendant. Give a call to the customer service centre to get an idea of the type of customer service provided. Check on wait times and find out the representative’s ability to answer questions regarding spreads and leverage, trade volume, and company details.

Account types

Your ideal cryptocurrency trading broker should be able to offer either multiple account options or an element of customizability. Look for cryptocurrency brokers that offer competitive spreads and easy deposits/withdrawals.

Currency pairs

Cryptocurrency brokers can provide a selection of cryptocurrency pairs. However, it is most important is that they provide the variety of pairs that interest you. While there are many digital currencies available for trading, there are only a few get the majority of the attention, and as the result, trade with the highest liquidity.

Platform type

The trading platform is the investor’s portal to the markets. With that in mind, look for a platform that’s easy to use, straightforward and offers an advanced collection of analytical and technical and tools. These features will help to enhance your trading experience.

Here at topbrokers.Trade, we take pride in providing the best possible trading brokers comparison, reviews and ratings. These reviews enable you to select the best trading platform for your needs. We don’t just help you to pick a great place to trade, but also do everything that we can, to show you how to get started. For more information on cryptocurrencies, please see our tutorial: the basics of cryptocurrency

Bitcoin investing: compare accounts for buying & selling bitcoin

Use our comparison table of bitcoin accounts to compare costs and the different ways to buy and sell bitcoin. Please note: investing in bitcoin and other cryptocurrencies is very high risk and not regulated by the FCA. There is a very high chance you may lose all your money.

How to choose an account for investing in bitcoin

Here are three tips and things to consider when deciding which provider to buy bitcoin through:

Look for a regulated provider who also offers bitcoin

Even though bitcoin is an unregulated digital currency, many providers that offer bitcoin investing are regulated by the FCA for other things such as stocks, bonds, bank accounts and trading. By choosing a bitcoin account that is attached to a regulated entity, you will be dealing with a provider who is responsible for treating clients fairly (although not directly for cryptocurrency investing).

Compare the costs of investing in bitcoin

The costs of investing in bitcoin can vary dramatically. The key things to consider are:

Bitcoin commission- some bitcoin accounts will charge a fee when you buy and sell bitcoin on their platform.

Bitcoin currency exchange fees- if you are buying bitcoin against the USD (BTCUSD) but depositing GBP into your bitcoin wallet, there will be a fee for converting the GBP into USD. It is possible with some exchanges to buy bitcoin against GBP where you do not need to convert fiat currencies.

Bitcoin price spread- this is the difference between the buy and sell prices. As with investing in stocks, there is always a spread between where people are prepared to buy and people are prepared to sell. The bitcoin spread varies, depending on how active the market is (liquidity) and how much the price is moving (volatility), as well as which bitcoin platform you are investing through.

Understand the risks involved in investing in bitcoin

Before you start investing in bitcoin, decide if you should be investing in bitcoin. The major risks of investing in bitcoin are:

Sudden price moves- the price of bitcoin can drop and rise quickly and for no apparent reason.

High investment costs- compared to investing in stocks, it is still expensive to buy and sell bitcoin.

Bitcoin scams- there are lots of scammers using fake bitcoin ads to scam potential bitcoin investors, so always research bitcoin accounts before investing.

How do you invest in bitcoin?

The world's most famous crypto-currency is an obvious target for investors and traders due to its history of rapid gains and falls in value. This volatility makes it both very risky and potentially very lucrative as an investment.

How to get started investing in bitcoin

If you are buying bitcoins, then you will require a bitcoin address. This is a code to which the bitcoins that you buy will be allocated. You can acquire an address by downloading a bitcoin client to your computer or setting up an online wallet.

What to avoid when you start investing in bitcoin

When using cfds or placing spread bets, it is possible to lose more than your initial stake. This will be amplified if you use leverage. Don't risk more money than you can afford to lose when you take a position. Placing stop loss orders, which automatically close down your position when bitcoin hits a particular value, are an essential way to limit the risk that you face.

What to look for when choosing an account to buy bitcoin in

The various bitcoin exchanges and CFD/spread-betting companies have different fee structures for their services. Make sure that you're not being overcharged and that the trading platform on offer is to your liking. As with any investment, the more you know about factors that will impact the price of bitcoin, the more likely you are to profit.

To invest in bitcoin, you need a bitcoin wallet or account. You can compare bitcoin accounts with our bitcoin account comparison table.

Bitcoin FAQ:

Here are some of the most frequently asked questions people ask before they invest in bitcoin:

What is bitcoin?

Bitcoin is a digital currency. It was launched in 2009, can be mined, bought and sold against many fiat currencies, and is the largest cryptocurrency by market capitalisation.

How much is bitcoin worth?

The price of bitcoin moves all the time and is priced most commonly against the USD. See our bitcoin price chart for the current price.

How does bitcoin work?

Bitcoin works as a digital currency where a record of all transactions are kept on the block chain. Each bitcoin is stored in a digital wallet where it can be spent or sent.

How to get bitcoins

There are two ways to get bitcoin. You can either mine them or buy them through a bitcoin exchange platform.

Is bitcoin safe?

This is undermined yet and the safety of bitcoin is one of the major risks of investing in bitcoin.

Is bitcoin regulated by the FCA?

No, bitcoin is not regulated by the FCA. However, there are FCA-regulated providers that also offer options for buying and selling bitcoin.

Are bitcoin adverts real?

From peter jones to PSY, new scam adverts advertising get-rich-quick bitcoin schemes are flooding the internet. Despite a global ban from google on non-regulated brokers advertising derivatives products, they are still getting through. Amazingly, you see them in the header of the dailymail and other mainstream media websites. Martin lewis, the money-saving-guru from money saving expert, recently sued facebook because they failed to stop scammers using his image in scam ads for get-rich-quick bitcoin schemes. Martin lewis settled with facebook for a £3m charitable donation in the end.

Is bitcoin a scam?

If you see an advert for bitcoin investing, it may well be a scam as google and facebook have banned cryptocurrency advertising. If it looks like a scam, it's a scam. And always check the FCA register for any broker you deal with.

Keep in mind too though that the scammers make clone websites of real brokerages to scam you. So, double and triple-check any broker before sending money. A quick google search can save you from becoming a victim.

How to make money with bitcoin

It is possible to make money investing in bitcoin in the same respect that it is possible to make money investing in high-risk stocks. If you buy low, sell high, you will make money. But unlike investing in stocks where a company generates revenue and profits, bitcoin has no underlying value so it is also possible to lose money very quickly by investing in bitcoin.

Where to buy bitcoin

For more information on where to buy bitcoin, read our guide to choosing a bitcoin account.

Is bitcoin legal?

How to use bitcoin

Bitcoin is becoming more usable every day. Some online merchants accept it as payment and recently, paypal announced that it would accept bitcoin as a payment source.

Is bitcoin a good investment?

Whether or not bitcoin is a good investment is relative to your investment objectives. It is a very high-risk investment.

How to sell bitcoin

When you choose a bitcoin account, make sure there is also the option to sell the bitcoin on it as well.

Where can you get bitcoin investing ideas?

Never believe anyone who says they can make you rich or adopt trading as a career if you are a complete beginner. However, if you do want trading ideas, you can find news and analysis on bitcoin here:

Bloomberg

Reuters

Tradingview provides excellent crypto charts and lots of users post trading ideas.

ABOUT

The good money guide is a london based guide to trading and investment accounts for clients based in the UK, europe, asia, south africa and australia. For more information on how this site makes money please find out more about us.

Disclaimer

The information contained in this website is for informational purposes only and does not constitute financial advice. The material does not contain (and should not be construed as containing) investment advice or an investment recommendation, or, an offer of or solicitation for, a transaction in any financial instrument.

RISK WARNING

ALL INVESTING INVOLVES RISK. Investing, derivatives, spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved.
ESMA & FCA risk warning – “cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 68-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money. Capital at risk”

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Cryptocurrency trading UK for 2021

We found 11 online brokers that are appropriate for trading crypto.

Cryptocurrency trading UK guide

Cryptocurrency trading - UK

Cryptocurrency trading - UK: market

Is cryptocurrency trading - UK a hype?

Buying cryptocurrency

The easiest trading method for cryptocurrency is to buy digital coins and hold them. Cryptocurrencies can be purchased from exchanges.

Buying vs trading cryptocurrencies

What are cryptocurrencies?

How cryptocurrencies work

Miners are in fact the backbone of the network, and stand as 'proof of work' in this ecosystem. Mining is the churning of data via specialized hardware, along with verifying and adding transactions.

Blockchain is a series of such transactions, the newest always being added to the front. Blockchain is also defined as a 'digital ledger of transactions'.

Pros and cons of bitcoin

How bitcoin retains its standing as the largest cryptocurrency

Cryptocurrency trading UK verdict

Reputable cryptocurrency trading UK checklist

There are a number of important factors to consider when picking an online crypto trading brokerage.

Check your crypto broker has a history of at least 2 years.

Check your crypto broker has a reasonable sized customer support of at least 15.

Does the crypto broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

Check your crypto broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

Does your crypto broker have an international presence in multiple countries. This includes local seminar presentations and training.

Make sure your crypto can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering crypto.

We compare these features to make it easier for you to make a more informed choice.

Minimum deposit to open an account.

Available funding methods for the below crypto.

What you are able to trade with each brokerage.

Trading platforms offered by these brokers.

Spread type (if applicable) for each brokerage.

Customer support levels offered.

We show if each brokerage offers micro, standard, VIP and islamic accounts.

Top 15 crypto of 2021 compared

Here are the top crypto.

Compare crypto min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are crypto. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more crypto that accept crypto clients

Learn how to buy and sell cryptocurrency online with a trusted broker

Looking to step into the cryptocurrency market? As they have become one of the most profitable assets of 2020, it is not surprising that many people are now taking an interest in these digital currencies.

For a long time, there was a lot of skepticism about bitcoin and the rest. Even though it still exists, people cannot deny that it is a profitable market and there are many who have made quite a fortune in this space. If you are also ready to try your luck, then you can do it quite easily. Due to the popularity of cryptocurrencies, there has been a jump in the number of brokers offering this asset.

Nevertheless, you have to remember that you must learn how to trade cryptocurrency online at a profit. You don’t want to put your personal information or your money at risk and you certainly don’t want to waste time. This will only happen if you opt for the right broker. There are both good and shady options in the market and your goal should be to find one in the first category. You must find a crypto broker that has gained a solid reputation.

But, in order to verify their offerings, you can check out some broker reviews and then make up your mind:

Security of funds and information

Signing up with an online broker involves trusting them with your personal and sensitive information, along with your money. You would obviously want them to be safe, considering the number of cybercrimes. A trusted broker is aware of the risks and has taken the right steps to mitigating them. They protect your funds by keeping them in segregated accounts, which means your money is only used for trading and nothing else. The funds are returned to you in case the broker goes bankrupt.

A good broker has also installed SSL (secure socket layer) certificates on their website for keeping all confidential data away from prying eyes. They also have verification procedures where traders have to provide proof of identity and residence before they can use the trading services, thereby preventing identity theft and money laundering.

Access to numerous crypto assets

Even though bitcoin is the world’s top cryptocurrency, it is not the only option and there are various others that can be explored and used for making profits. But, not many brokers provide this opportunity to do so. You will come to know that the broker you are working with is different in this regard because they give their clients access to numerous crypto assets. The offerings start with bitcoin, but go on to include ripple, litecoin, ethereum, bitcoin cash, DASH, monero, IOTA, NEO and NEM. You can invest in as many cryptocurrencies as you want to maximize your crypto returns.

Straightforward signing up

One prominent feature about any good broker that appeals to many traders is that they have kept their signing up process very straightforward. If you want to open an account with a trusted broker, you just fill out one form with some basic data and are immediately registered. Then, you can go over the account options provided and opt for the one that is in accordance with your requirement. There is no waiting for days and you can find a trading account option for every trader, whether they are a newbie just starting out, or an experienced trader with a few years of experience.

Availability of learning material

As cryptocurrency is a relatively new asset, there is a lot you have to learn about them before you start trading. Their volatility brings plenty of risk, so it is best to understand what you are doing, or else you will not make any profits. A reliable broker gives you access to the educational resources and training you need in the form of online tutorials, videos, courses, e-books and webinars, so you can buy and sell cryptocurrencies online and make the returns you want.

How to buy bitcoin UK: A beginner’s guide

There are number of online platforms and methods to buy bitcoin in the UK and figuring out where to get started can be daunting. In this beginner’s guide, we explain the ins and outs of how you can buy bitcoin in the UK, as well as the best platforms for doing so. We also explain some the factors that you need to look out for prior to parting with your money – such as regulation, fees, spreads, and withdrawals.

Our recommended UK platform

Don’t have time to read through our guide and simply want to buy bitcoin right now?

If so, we would suggest the broker listed below. Our top-rated platform is regulated by the UK’s FCA, so your funds are safe at all times. You can also deposit funds with heaps of everyday payment methods, and you won’t pay any fees other than the spread.

Etoro: best UK platform for 2020

Buy physical bitcoins or trade bitcoin cfds

Copy trading available

Cysec, FCA and ASIC regulated

Bitcoin in the UK

Consumer demand in the UK for bitcoin took off in late 2017 when the cryptocurrency went on a parabolic run to $20,000. This amounts to an all-time high of around £16,000. To put this into perspective, bitcoin was worth less than 1p back in 2009. Those that were fortunate enough to jump on the band-waggon early are now looking at unprecedented profits.

In terms of availability, the UK is home to a number of popular cryptocurrency brokers. Moreover, a number of regulated CFD brokers now offer markets on bitcoin – including heavyweight firms like plus500, etoro, CMC markets, IG, and even city index. Some brokers even offer a dedicated bitcoin market against the pound sterling.

This is unusual, as the vast majority of the industry is marked-up against the US dollar. Outside of the traditional brokerage space, there are also a number of bitcoin atms scattered around the UK. This allows you to insert cash into the machine, and in return, bitcoin will be transferred to your digital wallet.

What is the best way to buy bitcoin in the UK?

There are heaps of way to invest in bitcoin – such as a bitcoin ATM or peer-to-peer exchange. With that said, the easiest way to get your hands on cryptocurrencies as a first-time buyer is to use an online broker.

The process works largely the same regardless of which platform you sign up with. You’ll need to open an account, deposit some funds, and then specify how much you wish to buy. After that, most brokers allow you to withdraw your newly purchased bitcoin out to a private wallet.

This operates much like a bank account, albeit, you retain full control over your private keys. When it comes to payments, most UK brokers allow you to fund your account with an everyday payment method. This includes the likes of a debit card, credit card, or an e-wallet such as paypal or skrill.

You can also deposit funds via a local UK bank transfer. Finally – and perhaps most importantly, UK brokers must hold a regulatory license. As noted above, this will usually be with the UK’s FCA. As such, client funds will be held in segregated bank accounts. This means that were the broker to collapse, your funds should be protected.

Where to buy bitcoin in the UK

Etoro is our top pick from the best trading platforms to buy bitcoin with a debit card in the united kingdom for several reasons. Firstly, etoro is the largest social trading platform in the world with more than 4.5 million users from more than 140 countries. Then, this broker offers a wide range of assets including stocks, commodities, cryptocurrencies, indices, etfs, and currency pairs. But after all, the greatest advantage you can see in our etoro review, is when you compare it to other platforms, is that investors can interact with other members and use the copytrade feature that enables users to copy trades of other successful traders.

Bitcoin trading on etoro can be done through etoro's own cryptocurrency exchange (etorox), or through cfds. As of 2018, etorox is also available in the united states. Investors in the united kingdom on the etoro platform can buy and short-sell bitcoin with a leverage ratio of 2:1. On top of that etoro offers trading on 94 other cryptocurrencies if you choose to buy crypto through cfds.

Founded in 2006, etoro is regulated by top tier regulators such as the financial conduct authority (FCA) in the united kingdom, cysec in europe, and ASIC in australia. Etoro stands out among other exchanges and bitcoin brokers by allowing you to buy and hold digital coins 'physically' or to trade cfds, meaning you speculate on bitcoin price movement without owning the currency.

Assets: cryptocurrencies (cfds and exchange), stocks, forex, etfs, commodities, and indices.

Demo account: yes

Educational material: daily blog & podcast, and video tutorials

Fees: BTC/USD spread - 0.75%, no deposit fee, $5 withdrawal fee, $5 inactivity fee.

Minimum deposit: $200

Special features: social trading platform, copytrade, copyportfolios. Etoro offers its own cryptocurrency exchange and a digital wallet.

Regulation: FCA, cysec, ASIC, mifid

Payment methods: credit/debit card, paypal, sofort, rapid transfer, skrill, wire transfer, neteller, webmoney, unionpay