Compare the best cryptocurrency brokers

To invest in cryptocurrency you first need to find a reliable broker. This page takes you through the top options, and helps you compare them to choose what's best for you.
By: Max Adams
Max Adams
Max has a keen interest in the transformative power of technology and is the founder of a platform called… read more.
Updated: May 19, 2021
Tip: our preferred broker is, eToro: visit & create account

What are the best cryptocurrency trading platforms?

The list below contains all the best platforms, with key information summarised for each so you can find your ideal broker quickly. If you’re ready to start now, then simply follow one of the links below. Alternatively, find more information further down the page.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$1
Exclusive promotion
Our score
9.3
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Description:
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Payment Methods
Cryptocurrencies
Full regulations list:
3
Min. Deposit
$20
Exclusive promotion
Our score
8.7
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies, Skrill
Full regulations list:

What is a cryptocurrency broker?

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

How do brokerages work?

On the most basic level, brokers work by matching up buyers and sellers in order to execute trades. If someone is looking for a specific cryptocurrency, for example Ethereum, then a broker will take the price at which they’re willing to pay and match them with someone happy to sell at that rate. In some instances the broker itself is on the other side of the trade, and in others it will be another individual using the platform.

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

The other type of brokers are comprehensive platforms that allow you to trade cryptocurrencies as the markets rise and fall. Typically users can place such trades using Contracts for Difference (CFDs) – financial instruments that allow people to make trades without owning the underlying asset. Trading this way means you can flip cryptos quickly without needing a wallet – and also allows for leveraged trading.

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

The main point of distinction between brokers and exchanges is that the latter work on a peer-to-peer basis. That means that while brokers position themselves as a middleman for transactions and charge fees for doing so, exchanges are more open platforms that set prices with a constantly updating order book.

On an exchange, thousands of users trade with each other directly in real time, trading coins in currency pairs (e.g. BTC/ETH) at rates governed by the supply and demand of other users on the platform. It is this activity on exchanges that helps set the price of different cryptocurrencies.

How do I use a cryptocurrency broker?

Using one is a straightforward and easy process. You simply need to sign up, fund your account, and then you can get the coins you’re interested in at the price given by the platform. 

If your chosen broker is also a CFD trading platform, then to start making trades as the market fluctuates you simply need to head to the trading interface of their website or app. From here you will be able to see all the relevant crypto price charts and start to trade cryptocurrencies right away.

The best trading platforms for beginners, traders, and long-term investors

Which platform is right for you will depend mainly on your level of experience and your investment strategy. To help you select the best broker, we’ve come up with these recommendations for different user profiles.

The top broker for beginners

When you’re just starting out with cryptocurrency, you want to prioritise ease of use and customer support. You might end up paying slightly more for your coins, but it’s worth it to avoid making costly mistakes.

1
Min. Deposit
$1
Exclusive promotion
Our score
10
FCA regulated crypto exchange with 4500+ digital assets available for trading
Supports users from over 100 countries including the US and Canada
Withdraw your funds using PayPal or other payment methods
Start Trading
Description:
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Full regulations list:

The top platform for day-traders

For those looking to make frequent moves, it’s essential to register for a broker that offers a variety of crypto CFDs and low trading fees.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA

The top app for long-term buyers

Long term investors need to be most concerned about using a secure platform on which they can keep their coins safe. This strategy is for people who believe certain cryptocurrencies will rise in price over time and want to hold them in pursuit of profits.

1
Min. Deposit
$1
Exclusive promotion
Our score
10
Instantly switch between your crypto and traditional currency with zero fees and up to 3% savings
Spend your crypto and fiat currencies with realtime conversion at point-of-sale and instant crypto rewards
Cryptoback™ rewards pay out up to 1.5% in BTC every time you use your Wirex card in-store
Start Trading
Description:
Wirex is a digital payment platform with a mission - to make crypto and traditional currencies equal and accessible to everyone. We’re making fintech simple. Our innovative mobile app and next-gen Wirex card lets you buy, store, exchange and spend a wide variety of conventional and digital currencies quickly and securely, with no hidden fees and zero fuss. Download the app now and discover a world where every purchase earns you Cryptoback™ rewards - and using your cryptocurrency in real life is as easy as tapping your Wirex card.
Payment Methods
Credit Card, Debit Card, Wire Transfer
Full regulations list:
FCA

What should I look for in an online trading platform?

There are a number of different factors to consider when choosing a broker, from 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 an online platform.

Design and ease of use

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 an app you find confusing.

Price

You don’t want to pay too much above the market rate. Generally with brokers there will be fees and commissions included in the quoted price on the website, so compare different brokers and make sure you’re getting a good deal.

Payment charges

Different 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.

Reputation

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

Variety of coins

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

Trading options

If you’re looking to trade cryptocurrencies using CFDs, rather than holding coins for the long term, then make sure the trading platform 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.

Quick answers to key questions

Do brokers charge commissions or fees for buying cryptocurrency?

Yes, most brokers charge some sort of 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 the fees are incorporated into the price, so you won’t pay any extra fees but there is still a commission being applied.

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

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 photo ID is required.

Can I buy multiple cryptocurrencies through a broker?

Yes, pretty much every broker will offer a range of coins. The amount on offer vary from about 5 on the most basic broker, to thousands on the biggest and most advanced platforms. If you’re looking for altcoins such as Polkadot and Aave, then you will need to find one of the latter.

Do I need a wallet to use a crypto broker?

No, not usually. It can however be a good idea to get one if investing for the long term. Trading platforms will typically allow you to hold your coins on 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.

Should I use brokers to buy and sell cryptocurrency?

The answer to this question depends on your investment goals. Any of our top 10 crypto brokers offer beginner-friendly trading platforms, but you need to be aware that the convenience provided by brokers comes with additional fees. Also bear in mind that CFD trading is a great option for day traders, but for long term investors you’ll want to choose a broker that lets you own the coins directly. 

Still undecided?

Before investing in cryptocurrency – as with any investment – it is important to weigh up the key pros and cons. Below are some of the main benefits and drawbacks of trading cryptocurrencies, along with some additional questions to consider and FAQs at the bottom of the page.

Pros

  • Buying cryptocurrencies using a broker is a user-friendly process
  • Brokers often allow you to trade crypto using CFDs 
  • Trading platforms tend to have responsive customer service
  • Some brokers allow leveraged trading of cryptocurrencies
  • Generally more accessible than cryptocurrency exchanges

Cons

Should I buy cryptocurrency now?

It’s up to you; timing your cryptocurrency trades right requires an understanding of your aims. 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.

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Where can I learn more about cryptocurrency?

You can access a whole host of cryptocurrency courses right here on Invezz. Whether you want to learn the basics of Bitcoin, educate yourself on Ethereum, or teach yourself about Tron, our guides will help you get all the knowledge you need before starting to trade.  

FAQs

Do I have to pay tax on the profits I make on my coins through a broker?
Are crypto trading platforms anonymous?
What does ‘peer-to-peer’ mean in terms of cryptocurrency exchanges?
Can I transfer money from a broker to my PayPal account?
Are cryptocurrency trading platforms available 24/7?
Can I exchange different cryptocurrencies for each other using a broker?
Can I use multiple brokers?
Are crypto brokers legal?
Are brokers regulated?
Can brokers hold my coins for me?
Can I access my full trading history with a broker?

Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Max Adams
Lead Content Editor
Max has a keen interest in the transformative power of technology and is the founder of a platform called Current Frequencies. When not at his desk,… read more.