Compare the 11 best cryptocurrency brokers in 2024

This guide takes you through the top cryptocurrency brokers. Find expert picks and a ranking of the best crypto brokers available today.
By:  & 
Updated: Mar 15, 2024
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We asked our team of experts, with decades of cryptocurrency experience between them, test the best crypto brokers and rate which ones came out on top.

This beginner-friendly guide breaks down the results to show you which platforms came top of the class, and explains how your trading style affect which is the best Bitcoin broker for you.

Top cryptocurrency brokers overall for 2024

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  1. Plus500: Best for international CFD trading*
  2. eToro: Best for beginners, copy-trading & demo-account
  3. Public: Best for sharing beginner trading ideas
  4. Uphold: Best for building long term wealth
  5. Bitstamp: Best for professionals & trading with APIs
  6. OKX: Best for futures and margin trading
  7. Kraken: Best for simple, global cryptocurrency trading from your phone
  8. Coinbase: Best secure trading platform for all types of trader
  9. Nexo: Best for earning interest & rewards
  10. eToro: Best for beginners, copy-trading & demo-account
  11. KuCoin: Best social trading altcoin exchange

What are the best crypto brokers?

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Our experts ranked these brokers as the best places to trade crypto today. Sign up by following one of the links in the table or keep reading to find out more about each platform and why we rated it so highly.

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1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
$ 10
Best offer
User Score
9.9
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

3
Min. Deposit
$ 0
Best offer
User Score
9.6
Get insights from millions of investors, creators, and analysts
Build your portfolio of stocks, ETFs, and crypto–all in one place
No minimum deposit
Start Trading
Payment Methods:
Bank Wire, Check, Debit Card, Wire Transfer
Full Regulations:
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

Top 11 crypto brokers, reviewed

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1. Plus500. Best for international CFD trading*

From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

1%

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade for UK & EU users (not US, real assets only)
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Highlights

Visit eToro eToro Review

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

3. Public. Best for sharing beginner trading ideas

public.com logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments
You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: Cryptocurrency trades are charged a 2.5% fee per transaction. 

Highlights

Visit Review
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

4. Uphold. Best for building long term wealth

$0.99

Fees

...

Minimum deposit

300

No. assets

Yes

Demo/virtual account

Pros & Cons

Wide range of cryptocurrencies available Zero deposit and withdrawal fees Crypto wallets to store your coins Low minimum deposits and fast account set up
Spreads can be high for some cryptocurrencies Services vary depending on region Customer support is limited

Overview

We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD. 

Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.

The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.

Highlights

Visit Review

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

5. Bitstamp. Best for professionals & trading with APIs

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether

Overview

We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand. 

Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.

The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.

Highlights

Visit Bitstamp Bitstamp Review

6. OKX. Best for futures and margin trading

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods
Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Highlights

Visit OKX OKX Review
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.

7. Kraken: Best for simple, global cryptocurrency trading from your phone

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Cheap/ free deposits in EUR and cheap deposits for the USA Margin trading and Futures supported Transparency - it was the first exchange to carry out proof of reserves Low fees in comparison to other exchanges
Catered towards professional traders with large trading volumes Slow account verification in comparison to other brokers

Overview

We love Kraken because it’s a beginner-friendly crypto trading platform, one that’s designed to make it quick and convenient to buy and sell crypto on the go. Creating an account is free, then you’re ready to make your first step, with no time-consuming verification periods.

With 200+ crypto tokens at your fingertips, a 24/7 support system, and an extensive educational platform, Kraken is the perfect place to take your first steps into crypto. It’s perfect for international traders outside the US, and is available in 190 countries around the world.

The fees: Kraken charges a fee of between 0-0.26% on every crypto trade. There are no costs to set up an account and no flat trading fees.

Highlights

Visit Kraken Kraken Review

8. Coinbase. Best secure trading platform for all types of trader

Up to 0.6%

Fees

$10

Minimum deposit

200

No. assets

No

Demo/virtual account

Pros & Cons

Simple and easy to use interface Able to buy cryptocurrencies instantly with a credit or debit card Offers great security on its wallet Can use a variety of payment methods
Quite high fees for credit and debit card instant buys Poor customer support

Overview

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. There is insurance on all cash balances up to $250,000 and the majority of assets are stored offline in cold storage.

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Highlights

Visit Coinbase Coinbase Review
Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

9. Nexo. Best for earning interest & rewards

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Offers excellent rates of interest on crypto and fiat savings Nexo debit card makes it easy to access and spend your funds Access crypto loans and collateral Equipped with top quality security infrastructure and insured
No anonymous option, your identity must be verified to place buy and sell orders Margins calls if the value of your collateral drops between a certain level

Overview

We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.

You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest. 

The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee. 

Highlights

Visit Nexo Nexo Review

10. KuCoin. Best social trading altcoin exchange

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Anonymous trading with up to 2 BTC withdrawals/24 hours Wide variety of cryptocurrencies No deposit fees
Low trading volumes not suitable for big traders Doesn’t support U.S. customers You might experience delays and lags during high-traffic times.

Overview

We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.

KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.

The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.

Highlights

Visit KuCoin KuCoin Review

The top crypto brokers for your needs

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What is the top cryptocurrency broker for beginners?

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eToro is the best beginner-friendly platform for trading cryptocurrency. When you’re just starting out, you want to prioritise ease of use and get plenty of guidance. With eToro’s CopyTrader feature you can access both, and it boasts cheap trading fees as well.

Crypto brokerTrading fees
eToro1%
Coinbase1%
BinanceFrom 0%

What is the best broker for cryptocurrency trading?

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BitPanda is our expert pick as the best broker to trade cryptocurrency. For those looking to make frequent moves, it’s essential to register for a broker that offers low trading fees and a variety of charting and analysis tools. BitPanda offers both, which makes it a great place to start your trading journey.

Crypto brokerTrading fees
BitPanda1.49%
eToro1%
Coinbase1%

What is the top cryptocurrency broker for long term investors?

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Coinbase is the best broker for cryptocurrency trading combined with a secure storage facility. You can use Coinbase to buy and sell crypto, then keep your digital currencies safe in the Coinbase Wallet.

Crypto brokerTrading feesDedicated wallet?
Coinbase1%Yes
eToro1%Yes
BinanceFrom 0%Yes

What is the best crypto broker for altcoins?

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OKX has the largest range of coins on offer, so it should be your first port of call to buy altcoins. Many crypto brokers only list a limited number of digital currencies, so take advantage of the fact that OKX offers hundreds of them.

Crypto brokerNo. of coins
OKX360+
Binance350+
Coinbase200+

Read more: the best altcoin brokers

What is the best crypto broker for DeFi coins?

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The leading decentralized finance (DeFi) coins are all available on eToro. DeFi coins have become some of the most popular cryptocurrencies on the market, and eToro has always been quick to add the best coins to their list of digital assets for sale. You can buy them on eToro very easily, and with low fees.

Crypto brokerTrading fees
eToro1%
Coinbase1%
BinanceFrom 0%

Read more: the best DeFi trading platforms

What is the best broker for staking coins?

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eToro is the best bet for staking your coins without having to think much about it. You simply buy and store your coins on eToro and earn interest on coins once you pass the qualifying period – usually about ten days.

Just note that you may be better off financially if you use a dedicated staking platform, as opposed to a broker, as less of your money is lost in fees.

Crypto brokerStaking?
eToroYes
CoinbaseYes
YouHodlerYes

Read more: the best crypto staking platforms

What is the best crypto broker for spread betting?

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It is hard to find cryptocurrency brokers that let you spread bet. The best option is normally to trade crypto instead, as it’s more widely accessible to retail traders. City Index is our top ranked spread betting broker.

Spread betting brokerTrading fees
City IndexZero commission
PepperstoneZero commission
Saxo MarketsZero commission

Read more: the best cryptocurrency spread betting brokers

What is the best Bitcoin broker?

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eToro is the best broker for trading Bitcoin. It charges a fixed 1% fee on all Bitcoin trades, while the interface is clean and easy to use.

Crypto brokerTrading fees
eToro1%
Bitstamp1.49%
Coinbase1%

What is the best crypto broker for Ethereum?

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Bitstamp is the best Ethereum broker. It’s a highly secure broker for trading crypto, and boasts industry-leading uptime so you can always trade whenever you want.

Crypto brokerTrading fees
Bitstamp1.49%
eToro1%
Binance1%

What is the best cryptocurrency broker for new coins?

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Coinbase is the best crypto broker for trading new coins. It has a huge range of cryptocurrencies and is usually one of the first brokers to add new coins.

Crypto brokerTrading fees
Coinbase1%
BinanceFrom 0%
OKXFrom 0.6%

What is a cryptocurrency broker?

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A crypto broker is an online trading platform that functions as a middleman for buying and selling cryptocurrencies. There are two different varieties of crypto broker: simple platforms that offer coins at set prices, and more complex interfaces that allow you to trade a wide variety of cryptocurrencies in real time.

How does a crypto broker work?

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On the most basic level, Bitcoin brokers work by matching up buyers and sellers in order to execute trades. Sometimes the broker itself is on the other end of the deal, and sometimes the broker merely facilitates trades between other users in an open marketplace.

Like a bureau de change at an airport, most of the time the broker sets rates for each coin and allows you to buy at this price instantly. The broker will apply fees for this convenience, but these platforms are often the best bet whether you want to trade crypto by buying and selling coins rapidly, or you want to own a large number of coins or tokens – say more than $50,000 worth.

How do I use a Bitcoin broker?

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You simply need to sign up, make a deposit, and then you can get the coins you’re interested in at the price given by the platform. The best Bitcoin brokers are straightforward and easy to use.

To start making trades as the market fluctuates you simply need to head to the trading interface of the Bitcoin broker’s website or app. From here you will be able to see all the relevant crypto price charts and start to trade cryptocurrencies right away.

What should I look for in a crypto broker?

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There are a number of different factors to consider when choosing the best broker to buy cryptocurrency. Consider how intuitive the platform is to use, to more trading-related concerns such as how many coins you can trade and the fees involved for doing so.

Here’s a quick summary of all the key considerations when using a broker to trade cryptocurrency.

Design and ease of use

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It’s always best to ensure you find a platform easy to navigate before using it to place trades. The point of using a broker is to make the trading process simpler, so don’t settle for a platform that makes it confusing.

Access to a demo account

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Many online crypto brokers offer the option to trade with virtual money so that you can practice. Demo accounts are hugely useful if you have never traded digital currencies before.

You can trade Bitcoin and Ethereum without risking any money just by flipping a switch in the settings, and we recommend it as a starting point. This option is available to all retail investor accounts.

Price

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You don’t want to pay too much above the market rate. Cryptocurrency broker fees include a combination of fixed commissions and variable spreads, so compare different brokers and make sure you’re getting a good deal.

Payment charges

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Different crypto brokers will accept different methods of payment – and charge a range of fees for doing so. It’s common to find debit card payments accepted across most crypto broker platforms, but if you’re looking to pay for your coins using other methods such as credit cards or online wallets like PayPal there can be fees applied.

Regulation

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The top Bitcoin brokers are regulated or approved by top tier financial institutions, such as the Securities and Exchanges Commission (SEC).

When you choose a cryptocurrency broker, look for platforms that are registered with the SEC, or an equivalent body, as that means you benefit from investor protection, like compensation schemes in case the broker goes bust.

Most brokers are regulated in some form right now, but the rules on which platforms meet the regulations might change in the future.

Region Plus500 regulators eToro regulators Public regulators
Africa FSA FSAS
Asia
Australasia ASIC, FMA ASIC
Europe FCA, CySEC FCA, CySEC, DNB, AMF, OAM, MFSA
International
North America FinCEN, FINRA
South America
View more > Plus500 > eToro > Public >

Reputation

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Whenever you’re trusting an online platform or app with your money, you want to be sure the service is reliable. To compare cryptocurrency brokers it’s best to have a look through various user review sites, and also to check out in-depth reviews of each brokerage.

Variety of coins

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It’s no use finding a platform that you like if it doesn’t allow you to trade the specific coins you’re looking for. Every crypto broker will let you buy Bitcoin, but not all will support less frequently traded cryptos such as Theta and Algorand.

Product Plus500 assets eToro assets Public assets
Stock CFDs 1,800+ 3117
ETF CFDs 100+ 317
Forex CFDs 50+ 49
Crypto CFDs 40+ 73
Index CFDs 20+ 20
Commodity CFDs 20+ 26
View more > Plus500 > eToro > Public >

Note that all listed instruments on Plus500 are available to trade as CFDs.

Payment methods

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When you create an account you need to deposit some money into it at the same time. Most brokers accept common payment methods, like bank transfers and debit cards.

However, other payment methods may not always be accepted. If you want to use PayPal or a similar online payment provider, it’s important to check the broker accepts it before you sign up.

Trading options

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If you’re looking to trade cryptocurrencies, rather than holding coins for the long term, then make sure the cryptocurrency broker you’re using has the capabilities you’re looking for.

This could involve being able to trade cryptocurrency with leverage or to sell different coins short. Techniques like this come with increased risk and we only recommend experienced traders undertake them.

Compare brokers and sign up

Quick answers to key questions

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Do cryptocurrency brokers charge commissions or fees for buying cryptocurrency?

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Yes, even the best cryptocurrency brokers charge some sort of trading fee or commission. However, these vary between platforms and might appear in different ways. For instance, a broker might advertise that it charges ‘zero fees,’ but if you look at the price they’re quoting for a coin you’ll realise that it’s above market rate. 

This is because cryptocurrency broker fees are sometimes incorporated into the price, so you won’t pay a fixed rate fee, but there is still a commission being applied. Other platforms charge a certain amount per trade; 1-2% of the total trade value is most common. Here’s a look at some common fees crypto traders may encounter.

Asset Plus500 fees eToro fees Public fees
Cryptocurrencies From 2% 1%
Commodities From 0.04% From 2 pips
Currencies From 0.8% From 1 pip
Indices From 0.7% From 0.75 pts
Stocks From 0.08% 0% commission
View more > Plus500 > eToro > Public >

Do I have to verify my identity with a cryptocurrency broker?

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Yes, you will have to provide evidence of your identity. The top brokers are regulated and as such need users to prove their identity to comply with KYC (Know Your Customer) guidelines. Usually, at least one form of photo ID is required, which can be your passport or a driving license.

Can I buy multiple cryptocurrencies through a broker?

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Yes, pretty much every broker will offer a range of coins. The amount on offer varies from 10-15 on the most basic broker, to thousands on the biggest and most advanced platforms. On almost every broker you can expect to find the likes of Bitcoin, Ethereum, Avalanche, Binance Coin, Cardano, Dogecoin, Solana, Tether, and XRP. 

If you’re looking for altcoins, then you need to find a more advanced trading platform, or a top crypto exchange. There you can find more obscure coins, like Aave, ApeCoin, Axie Infinity, Bitcoin Cash, Chiliz, Litecoin, Monero, Stellar, Zcash, and many hundreds of others.

Do I need a wallet to use a crypto broker?

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No, not usually. It can however be a good idea to get one if investing for the long term. The best crypto brokers will typically allow you to hold your coins in your online account or app.

This can be convenient for people looking to trade coins frequently, but long term investors might want to consider a secure hardware wallet, such as the Ledger Nano S.

Do the best cryptocurrency brokers have mobile apps?

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Yes, the best Bitcoin brokers have their own crypto trading app that you can access on iOS and Android devices. You may want to test out the app by downloading it before you sign up to a broker, particularly if you plan on trading a lot from your phone.

Apps should provide a seamless trading experience that’s just as good as using a web browser; if an app doesn’t offer that, you might want to look elsewhere.

What’s the difference between a crypto exchange and a crypto broker?

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A cryptocurrency exchange is a platform that allows the trading of crypto assets like Bitcoin, Ethereum, and other crypto coins. Decentralized crypto exchanges operate on blockchain technology, while centralized crypto exchanges act as intermediaries. 

In contrast, a crypto broker is a firm that provides access to the crypto market, allowing investors to trade crypto CFDs or buy crypto without holding the actual cryptocurrency. The best crypto brokers offer leverage, trading strategies, and tools for speculating on crypto holdings.

What is the difference between trading crypto CFDs and buying crypto?

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When you trade crypto CFDs (Contracts for Difference), you speculate on the price movements of the underlying asset without owning it. CFDs are trading derivatives that allow you to go long or short on crypto assets.

However, when you buy crypto, you own the actual digital currency and can store it in a wallet or earn rewards through activities like staking. Buying crypto gives you direct exposure to the cryptocurrency itself.

What type of crypto broker accounts are available?

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Online cryptocurrency brokers offer various account types for crypto traders, including:

  • Demo. A practice account to test trading strategies risk-free.
  • Spread betting. Tax-efficient accounts for speculating on price movements.
  • Commission based. Pay a commission per trade, often with lower spreads.
  • Islamic. Accounts compliant with Sharia law, without interest or rollover fees.
  • Professional. Advanced accounts for experienced traders with higher leverage and tighter spreads.

What leverage is available for cryptocurrency traders?

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The leverage available to crypto traders varies across brokers and jurisdictions due to regulatory compliance. Many brokers offer leverage up to 2:1 for retail clients, while professional traders may access higher leverage like 5:1 or even 20:1. 

However, leverage amplifies potential profits and losses, so risk management is crucial when utilising advanced trading strategies with leverage.

Can I trade cryptocurrency CFDs with an online broker?

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It depends on where you live. Crypto CFDs are permitted in the US, but are banned in other parts of the world (for example, in the UK).

Should I use brokers to buy and sell cryptocurrency?

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The answer to this question depends on your investment goals. Any of our top 10 cryptocurrency brokers offer beginner-friendly, but you need to be aware that the convenience provided by brokers comes with additional fees.

The number of cryptocurrencies available on a broker can be limited compared to other investing platforms. A broker is a great option for the most popular coins, so you can buy Bitcoin and Ethereum very easily, but it might not be the best choice if you want to trade the latest altcoin trends.

You need to balance your desire for convenience and ease-of-use with cost and the range of trading options. A broker is best for beginners and for low trading fees but for the best coin prices or the widest range of coins, you might want to look elsewhere.

Still undecided?

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Before investing in cryptocurrency it’s important to weigh up the key pros and cons. Below are some of the main benefits and drawbacks of trading cryptocurrencies through a broker, along with some additional questions to consider and FAQs at the bottom of the page.

Pros

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  • Buying cryptocurrencies using a broker is a user-friendly process
  • Brokers are intuitive and offer excellent customer support
  • Some brokers allow leveraged trading of cryptocurrencies

Cons

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Choose a reliable broker

Should I buy cryptocurrency now?

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If you believe that a particular cryptocurrency is going to perform well and rise in value in the long term, then it’s a good idea to sign up to a broker and hold your coins while the uptrend in price hopefully materialises.

But long term trends aren’t the most important thing for every trading strategy. If your interest is more in becoming a crypto day trader, then it’s more important for you to master the art of analysing cryptocurrency charts and other aspects of technical analysis. Rather than looking into how a coin will perform over months and years, you need to be able to predict how it will perform over days, hours, or even minutes and make trades accordingly.

Whatever the approach you take, one thing that is always essential is to keep up to date with the hottest cryptocurrency news. You can read the most recent features from our experts right here to help you time your trades and work out if now is the right time to invest.

The deputy director of the Economic and Civil Legislation Department in Vietnam, Cao Dang Vinh, has clarified that cryptocurrencies are not banned in the country, but there is a need for a comprehensive legal framework. According to a local report, the Minister noted that creating a legal framework
Blockchain security firm ZachXBT questioned the legitimacy of Leaper Finance, a new project on the L2 platform Blast. ZachXBT linked Leaper Finance with a fraudulent group that stole eight figures with multiple platforms, including Magnate, Lendoro, Solfire, and Kokomo. The security firm has made a

Methodology: How we chose the best cryptocurrency brokers

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 crypto brokers to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of crypto experts, analysts, and active traders who sign up to each brokerage, conduct research, and score each service.

Our tests are designed to find crypto brokers that offer a beginner-friendly, secure investing experience at a fair price. To supplement our practical testing and experience, we research each brokerage to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each crypto platform is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual crypto brands to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

FAQs

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Do I have to pay tax on the profits I make on my coins through a broker?
Are the top cryptocurrency trading platforms anonymous?
Can I transfer money from a crypto broker to my PayPal account?
Are cryptocurrency trading platforms available 24/7?
Can I swap different cryptocurrencies for each other using a Bitcoin broker?
Can I use multiple brokers?
Are crypto brokers legal?
Are crypto brokers regulated?
Can crypto trading platforms store digital currencies?
Can I access my full trading history with a broker?
OK, I’m ready to buy cryptocurrency now


Sources & references
Risk disclaimer
Max Adams
Editor of Education
Max was the Editor of Education for Invezz from 2019-2021, overseeing the wider investment educational strategy. He has written for financial publications for over 5 years,... read more.
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.