Digital currencies have established themselves to be a popular and profitable trading option. For some, it is useless, while for others, it is an opportunity to make money. For some, where volatility scares people away, it is a way to get good returns on investments when they rise and fall.
For instance, if we take bitcoin, it started in 2017 it was at $1000 and then rose to $20000. It fell to $3200 and then rose to $10,000 and is continuously rising since then. This kind of rice movement is a treasure for traders, which brings waves of profit to them. Now anyone can buy bitcoin with credit card online.
Some traders like to own and keep virtual currencies, while others like to go to the futures market. Futures are also a good way to take advantage of the volatility of the market.
But remember, you could either magnify your gains or magnify losses. Keep both of them in mind before you put your bet on any platform or broker
What makes a broker best for cryptocurrency trading?
Some elements that you should look out for could be a wide range of crypto selection, the complete broker services, for example, the platform, wallet, Extensive crypto pairs, multiple CFD options, different coins, Accessible payment methods, etc.
They should meet the high standards of the industry. If you are interested in investing in cryptocurrencies, here is a list of top currency brokers of this year.
XTB is a global broker of forex and CFD. It was founded in 2002. The company is controlled by numerous financial authorities all around the world, together with the top-tier UK FCA (Financial Conduct Authority). It is listed on the Stocks of Warsaw; therefore, finances will be disclosed due to legalities, thus making it more transparent.
You can say that XTB is safe to invest in because they are standing there for a long time with a good and obviously a long track record. It has low forex fees with free withdrawal and deposit facilities, but it charges a high fee for CFD.
The product selection includes crypto, forex, and CFD; other assets like mutual funds and bonds are not available.
Coinbase is a remarkable online trading platform. It is one of the biggest cryptocurrency brokers. Currently, it makes available its services to almost 35 million traders in the world. Coinbase offers a huge amount of resources and natural and friendly interface ideals for new investors and traders. It is a popular platform among newbies and immature traders.
It has really amazing customer support with a hosted wallet. If you do not want to use social trading services, it should be your pick.
Crypto rocket is famous for providing STP services to its clients. You might be thinking about what STP is? It is a Straight Through Processing that lets you deal directly with the markets of cryptocurrencies along with forex. If you are sensitive to dealing spread, then this broker will do the job.
This platform offers 35 different pairs of crypto, but this is not it. You can also enjoy the trading of 55 traditional currency pairs, 11 indices, and 64 stocks. It also provides the facility to use the maximum leverage ratio of forex trade if a trader is based in a jurisdiction with negligible retail forex trading regulation.
It is a brand that is trusted globally. It is especially right for those traders who are willing to pay for a premium brokerage account in a Swiss bank. It is competitive and also a multi-asset platform.
The trading for cryptocurrency and, most importantly, wallet services are accessible via its eTrading account. Up till now, it is segmented away from the forex and CFD trading.
Remember that this platform does not publish average forex spreads. Also, minimum spreads of Swissquote are relatively expensive.
IG is regulated, safe, low risk, and also trusted by traders all across the globe. It offers its traders excellent trading ultimate packages and research tools. You will be having access to industry-leading education at competitive pricing.
This could be an amazing all-around experience for you. It ranks among the best brokers by offering more than 19000 instruments that could be traded. You can trade your cryptocurrency as CFD here easily.