One of the safest ways to earn money using cryptocurrencies is to trade them using certified trading brokers. They work differently than classical crypto exchange platforms, and traders can choose what works the best for them.
In the past, there weren’t a lot of ways to trade crypto coins, but as they became popular and attractive, many people saw a chance to change something and improve the market. Today, we have so many platforms that allow trading and exchanging between the investors or using a mediator who will connect them, so they can trade with the coins they own.
How are brokers better than exchanging?
Crypto exchange is pretty similar to the stock exchange, and the people who are active in this market can trade with the crypto money they own. Most of the traders choose Bitcoin as their primary currency, but it happens that they choose another money. The funds and savings are traded through brokers who can locate the sellers and buyers, and then bring them together. This process is faster than the standard exchange.
The buyers and sellers need to create an account using their email address, and then choose a strong password. After that, they need to verify the account and put a deposit. Verification time can take up to a few days because it requires many steps of confirmation, so your account can be safe.
Brokers’ platforms offer a lot of features for the users. They will automatically suggest to you which tools to use and create a custom strategy for the trader, following their patterns and preferences. You will see suggestions tailored for you, so it would be easier for the online broker to meet your needs and find the buyer or seller who is the best for you.
Which online trading brokers to use?
This question doesn’t have one and exact answer. You only need to be very careful, even when you did your research. Start with lower funds and if the platform works well for you, you can proceed to trade with higher funds and deposits.
Here are some of the top online cryptocurrency trading brokers at the market:
This broker was founded in 2007 and is marked as safe by many relevant crypto websites. It has a great user-friendly platform available on the web and mobile applications. They require high deposits, and it can be pretty pricey for beginners and inexperienced traders. But, at the same time, it has the needed certifications, regulations, licenses, and policies that make it safe for trading. eToro also offers different types of accounts, depending on the balance the user owns. When you convert one crypto to another, the fee is only 0.1%, and the fee for exchanging crypto coins to real money is 5%.
2. Bitcoin Banker
This is an advanced trading broker for experienced traders who prefer Bitcoin over the other cryptocurrencies. At the same time, it’s also user-friendly for beginners. Signing up is free, and they have to accept your registration. You can use the web version, but it’s also available on a mobile app. Your initial deposit is $250, but you can put more if you want. Then, you can trade, exchange, withdraw, or even reinvest the same amount more times. There are manual and automated trading options professionals, and you only need to choose the one you prefer more. According to bitcoinbanker, you can save a lot of money, if you choose to trade using the platform, and also, enjoy a lot of benefits worldwide with the membership, including vacations, hotel stays, and easy ways of paying in the stores.
Forex is one of the best trading brokers, available on the web and mobile app, so they can meet all the clients’ needs. It’s listed in many top-lists from trusted crypto-related websites. The whole trading process is explained in details and occasionally, they offer discounts for loyal users. It’s followed by a lot of regulations, that make the platform safe and trusted. Many new traders choose it because it’s easy to use and understand how it works. It offers many tools, research options, and competitive prices for all traders’ experience levels.
Cryptocurrencies and the possible risks
As we know, the crypto market is pretty risky for so many reasons, like liquidity, trading costs, possible breaches, challenges, scams, and everyday rate changes. A lot of trading services appear on the Internet every day, and many of them can be easily be hacked, even if they look safe.
When you are choosing a trading option, you need to consider all the possible aspects. Register with a valid email, confirm your ID, add two-factor authentication to your account, verify it, and use it smartly. Some deals may appear very attractive, but you should be careful with them. Most of the cryptocurrencies are safe to trade, but sometimes you may need to wait until they hit a better price, so you can earn more money from them.
When the prices are dropping every day, you can have a chance to buy more coins for less cash, but that doesn’t necessarily mean it’s a good choice. When you trade Bitcoins and other currencies, you should follow the market carefully, and avoid making quick decisions that may result in great money loss.