Compare the best cryptocurrency spread betting brokers

If you want to start spread betting on cryptocurrency, you need to choose a broker that works for you. Below, you can find the information you need to make an informed decision.
By: Harry Atkins
Harry Atkins
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue… read more.
Updated: May 21, 2021
Tip: our preferred broker is, eToro: visit & create account

Where can I find the best crypto spread betting platforms?

Right here. We’ve done all the legwork and compared all the best platforms so you can figure out which one to choose.

1
Min. Deposit
$50
Exclusive promotion
user-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
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$1
Exclusive promotion
user-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
user-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, Cryptocurrencies, Debit Card, Wire Transfer, skrill
Full regulations list:

What is spread betting?

It is the practice of speculating on the market fluctuations of an asset. Essentially, you’re betting whether the price of that asset (in this case a cryptocurrency, such as Bitcoin) will rise or fall from the bid and ask prices provided by a broker. 

How does crypto spread betting work?

Once you’ve picked a broker, log into your account and pick the cryptocurrency you want to speculate on. From there, check out the quoted buy and sell prices and decide whether you want to bet on the price of the cryptocurrency rising or falling. 

Spread betting vs CFD trading

They are similar practices; however, there are some key differences. Let’s review how each method works.

  • Spread betting. This is a form of derivatives trading. You can use leverage with both of these methods. When trading with leverage, you only need to put down a fraction of the trade’s total value. Both methods allow you to bet on the price of an asset either going up or down. Spread betting’s biggest advantage over CFD trading (if you’re based in Britain) is that it is exempt from capital gains tax in the UK.
  • CFD trading. A contract for difference (CFD) is an agreement between a buyer and seller that requires the buyer to pay the seller the difference between the current value of an asset (in this case a cryptocurrency) and its value at contract time. Aside from the tax regulations, the other big difference between the two methods is that spread betting is only available in the UK and Ireland, while trading with CFDs is available around the world.

So I don’t technically ‘own’ the assets I’m trading on a spread betting platform?

That’s exactly right. When trading crypto in this way, you’re betting on the price of a cryptocurrency either going up or down, but you never actually own the cryptocurrency in question. That means you don’t have to worry about digital storage or hackers. It also means you can trade faster and take advantage of market fluctuations to land gains. 

What should I look for in a spread betting service?

  • Find a regulated platform – The Financial Conduct Authority (FCA) oversees and regulates most reputable brokers in the UK. Whatever platform you choose, make sure it’s regulated by the FCA.
  • Variety of payment methods – Pick a platform that allows you to deposit and withdraw funds in whatever way best fits your needs. Bank transfers are a common way to fund brokerage accounts, and some platforms will accept newer payment methods, such as cryptocurrency.
  • Suitable deposit and withdrawal limits – Different platforms offer deposit and withdrawal limits. Pick a platform that’s right for the level of trading you want to do, whether it’s small bets or much larger value trading.
  • Good reputation – User reviews are often the best way to gauge a platform’s reputation. Take the time to scrutinise those reviews so you know your chosen platform ticks all the boxes, from customer service to design and ease of use.
  • Design and ease of use – UX is an important factor to consider when choosing a platform. The better designed the platform is, the smoother your user experience will be. Ease and speed of use are particularly valuable factors when the moment of truth comes and you’re ready to place a bet.
  • Variety of cryptocurrencies – Whichever broker you choose, make sure it offers the variety you’re looking for. Most platforms will have crypto options that go well beyond just Bitcoin.

What are the tax laws on spread betting profits?

In the UK, spread bettors are not required to pay capital gains tax or stamp duty. That gives the method an advantage over using CFDs, stock investing, and buying physical commodities.

Is online spread betting safe and secure?

It is no different to using CFDs, stock market investing or other trading methods in terms of security. If you pick a reputable, regulated trading platform, your trades will be secure. Use our thorough crypto reviews to find the one you like best.

Can I bet on multiple assets?

Yes, you can. This method lets you bet on multiple assets, in this case, multiple different kinds of cryptocurrency. Plus you don’t need to worry about storing your crypto in a secure digital wallet, since you’re only betting on a cryptocurrency’s price fluctuation, rather than owning the cryptocurrency itself. 

Do crypto spread betting platforms charge fees?

Platforms offering these services usually don’t charge fees; they make their money from the spread of your bet. The wider the price spread, the more money they make (and the bigger the gain you have to net just to break even).

What are the advantages of using an online platform?

They allow you to make bets instantly. Choose the cryptocurrency you want to bet on, and the platform will handle the rest.

And what are the drawbacks?

In the crypto world, the term “HODL” has come to signify the big benefit that can come with owning currencies such as Bitcoin. However, investing in crypto via spread betting doesn’t allow you to actually own or hold crypto. Also, this method is more complicated than simply buying a physical asset at a certain price and selling down the road, so you’ll need more technical financial knowledge to take full advantage of this technique.

Should I use a spread betting broker?

That’s up to you. If you want to bet on Bitcoin quickly and simply without having to worry about hackers stealing it, using a broker of this type is a great option.

FAQs

Any questions? Check out our FAQ before you start trading.

ℹ How did spread betting get its start?
ℹ What are some of the assets you can spread bet?
ℹ How long can you keep a spread bet open?
ℹ What’s the built-in risk of spread betting?
ℹ Where can I find tighter spreads then?
ℹ What’s the biggest advantage of trading with leverage in a spread bet?
ℹ What’s the biggest disadvantage of trading with leverage in a spread bet?
ℹ What’s a good way to manage risk when spread betting?
ℹ Is there a way to mitigate that risk with standard stop-loss orders?
ℹ What is spread-betting arbitrage, and is it a strategy worth pursuing?

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 >

Harry Atkins
Financial Writer
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the… read more.