8 Best Cryptocurrency Brokers

Cryptocurrency
First published
April 28, 2022
Last updated
June 21, 2022

Crypto is on the rise, and so are the number of cryptocurrency brokers out there! When you are ready to leap into cryptocurrency trading, choosing a cryptocurrency broker can be one of the most important steps to success in the crypto market. But if you’re looking for a broker to help you invest in cryptocurrency, how can you be sure you’re picking the right one? We’ve got you covered! Here are seven of the best cryptocurrency brokers so you can start trading crypto today.

What is a Cryptocurrency Broker? 

A cryptocurrency broker is an intermediary that helps you buy and sell cryptocurrencies like Bitcoin. You can use a broker to purchase cryptocurrencies without setting up your wallet or exchange account or selling your coins for cash when you're done trading. In addition to being an easy way to access the crypto market, brokers are also helpful for people who don't have enough money for full investment in crypto.

By using a broker, even small amounts of money can be invested—the broker uses their funds and investments from other customers to make up for any shortfall. This allows people with less capital to get involved in the crypto market without risking their entire savings on a single trade. 

What is the Difference Between a Cryptocurrency Exchange and a Broker?

Exchange and Broker

You can buy digital assets and own them outright with cryptocurrency exchanges. At the same time, brokers act as a middleman for you to bet and speculate on the price movements of crypto assets. Cryptocurrency brokers tend to undergo stricter scrutiny and regulation since they also offer to trade in fiat currencies and derivatives, while exchanges are in a regulatory gray zone.

Benefits of Using a Cryptocurrency Broker

  • Beginner-friendly: Cryptocurrency brokers are a good option if you are new to the cryptocurrency markets. Brokers allow users to buy and sell cryptocurrencies and exchange fiat currencies for cryptocurrencies, with some brokers offering advanced trading features like margin trading or algorithmic trading.
  • A wide array of services: When choosing a cryptocurrency broker, consider the amount of cryptocurrency you would like to buy or sell and the crypto broker's credentials. The crypto broker should have security systems in place and operate according to current national measures for financial services providers. You can access your crypto broker 24/7 via desktop or mobile app.
  • Protect your investment: It becomes easy to protect your investment with various security measures with a reliable broker. You can use two-factor authentication and verification via email to ensure that only authorized people can access your account. These measures come at a meager cost, allowing anyone to keep themselves safe from hackers trying to steal coins or empty their wallets.
  • Lucrative sign-up offers: When you sign up with a broker, they often offer a bonus to new customers: free Bitcoins that can be used to trade-in for other cryptocurrencies. Brokers want to attract more clients, so they use these offers to lure new users in. The percentages of these bonuses vary based on different factors, like the type of coins and market conditions. 
  • Plenty of payment methods: Before choosing a cryptocurrency broker, check the number of payment methods available. If they accept fiat currency via PayPal, credit card, or wire transfers, it makes it easy for new customers to start trading right away. Regarding fees, check if there are any charges involved with buying crypto coins. The more complex fee structure may not always mean bad; in fact, it may be based on the high volatility rate of coins. Still, if possible, select a low-cost broker to ensure your own safety and financial standing.

8 Best Cryptocurrency Brokers

Cryptocurrency Brokers

Here are the 7 best cryptocurrency brokers that you can consider in 2022.

1. eToro

eToro Crypto Broker is a service that allows users to trade Bitcoin and other cryptocurrencies on eToro's platform alongside the traditional stocks and forex assets. It uses a peer-to-peer system, meaning that users can buy or sell from each other without going through a third party like a bank. eToro Crypto Broker works by using smart contracts, which are self-executing (and are thus always reliable) agreements between two parties that do not require any middlemen to enforce them. These contracts are used to verify transactions between buyers and sellers are completed successfully. The only thing required of both sides before proceeding with the transaction is their consent; once this has been given, the contract will automatically take care of the rest! 

2. Caleb & Brown

Caleb & Brown aims to make cryptocurrency trading more accessible to clients who are new to the market. The company offers personalized service, and you can access the global liquidity that makes trading affordable and all the way easier. Trade over 1000 assets and experience enhanced security for your account. The access to your tokens is exclusive to you, and you work directly with a broker who guides you to make the right investment choices. Since Caleb & Brown is an Australian firm, you can also access XRP, TFuel, and Theta, which the exchanges in the U.S. don’t offer. 

3. Coinbase

Coinbase is one of the oldest exchanges for buying and selling cryptocurrency. It has an extensive network of users, with more than 89 million people in over 100 countries. Coinbase has various educational resources and offers an intuitive interface that's simple even for beginner traders. It also provides customers with a hosted wallet for digital currency and 24/7 customer support. Coinbase is a good choice for those new to the cryptocurrency market seeking a simple, hassle-free way to trade.

4. WeBull

WeBull is a digital asset portfolio management platform that supports popular cryptocurrencies like Dogecoin, Bitcoin, Ethereum, and other altcoins. WeBull gives you instant access to trade assets, an essential feature in volatile markets like the crypto industry. It allows you to trade stocks, options, futures, forex, etc. WeBull's goal is to offer a user-friendly experience that makes it easy for you to start investing in the markets.

5. Robinhood

Robinhood is a brokerage that offers a variety of trading options for beginning investors who want an intuitive and straightforward platform. Even if you haven’t invested before, you’ll easily master matching orders to buy and sell on Robinhood’s straightforward platform. The app allows you to access your account statements and tax documents quickly, and you can fund an account in less than 10 minutes. For beginning investors, one of the most helpful features is the capability to place trades simply by clicking next to an option — it’s like shopping for something in an online store that provides detailed explanations right below each product. 

6. Hodlnaut 

If you are looking for a reliable way of earning passive income, then Hodlnaut is your go-to option. The Hodlnaut Interest Account allows you to make the most of your cryptocurrency assets. All you need to do is sign up with Hodlnaut, finish the KYC, and earn up to 7.25% APY on your cryptocurrencies. It offers a token swap feature with which you can swap between asset pairs easily without any additional fees. Moreover, Hodlnaut’s preferred interest payout option allows users to earn interest in the cryptocurrency of their choice out of the eight supported coins. Hodlnaut has also recently received an in-principle approval (IPA) for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act) for its Token Swap feature. Moreover, the company is also a certified Fintech by the Singapore Fintech Association, an accreditation recognized by the MAS.

7. Interactive Brokers

Interactive Brokers is a brokerage firm that allows investors to trade stocks and other assets online. The company specializes in providing access to international markets and has offices in the United States, Canada, Europe, and Asia. Interactive Brokers offers traders a wide range of products and services through its trading platform, which is available on mobile devices and desktop computers. It's also one of the largest online brokers globally, with over 1 million accounts. The platform allows customers to trade on major exchanges, such as the New York Stock Exchange (NYSE) and NASDAQ.

8. Altrady

Altrady is a professional grade cryptocurrency trading platform that provides users with all the tools they need to make it as a successful trader.

All kinds of cryptocurrency traders will be able to benefit from using Altrady. Beginners will be able to make their trading experience easy and effortless. Veteran traders on the other hand will be empowered with a vast suite of powerful tools such as Smart Orders, Crypto Base Scanner, Trading Analytics, Signal & Grid Bots, allowing experienced traders to fully customize all their trades in order to minimize the risk and maximize their profit.

Altrady is an extension of crypto exchanges. It helps you to control your trades, stay accountable, find insights in your progress towards profit, and more. We also include signal bots, grid bots, and alerts - all of which will make managing a crypto portfolio a cinch!

Conclusion

Cryptocurrencies and blockchain are the future of finance! Despite being volatile and not yet widely adopted, these currencies seem destined to become increasingly popular with online traders. Therefore, they could make an attractive long-term investment, especially if you're bold and willing to take on risks. If you wish to enter the world of cryptocurrencies, then the above-stated list of brokers should help.

Should you wish to earn interest on your crypto coins, then hodl with Hodlnaut and earn up to 7.25% APY.  Sign-up for FREE today!

Disclaimer: By using Hodlnaut, users expressly acknowledge and agree to the Terms of Use listed on our website at www.hodlnaut.com. This includes the relevant risk warnings applicable to you as a user of Hodlnaut's services, prior to/when carrying out Digital Payment Token (DPT) transactions. This article is for informational purposes only, and is not an offer nor a solicitation to invest in DPT, securities, funds, partnership interests or other investments or funding or purchasing loans. It is the user's sole responsibility to conduct due diligence and research extensively into each DPT and platform, and understand that the volatility and unpredictability of the price of DPT may result in significant loss over a short period of time. No information on Hodlnaut should be considered to be business, legal, financial or tax advice regarding the use of Hodlnaut. Users should consult their own legal, financial, tax or other professional advisors before using Hodlnaut. Please refer to our website at https://www.hodlnaut.com/tos for the full Terms of Use.

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