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Cryptocurrency Brokers

Ready to start with regulated and best Cryptocurrency brokers?
Let’s discuss some of the best cryptocurrency broker platforms that are out there and how you can find a good one. You are going to have to use a regulated cryptocurrency broker if you want to trade cryptocurrency, and while it is true that there are bad companies out there that want to scam you, there are also a lot of good companies as well.



What is Cryptocurrency?

Before we can get into the brokers behind cryptocurrency trading, we first need to define cryptocurrency and make sure that you understand it completely. The best cryptocurrency trading platform will not help unless you understand the basic principles behind the instrument.


Cryptocurrency is a digital currency that is by nature anonymous and secure. When it comes to trading at a Bitcoin exchange or cryptocurrency market, it may not be as anonymous as the people buying and selling it would like, because brokers tend to require personal information to trade large amounts. But it is definitely secure, because it is converted into a code that is all but impossible to crack.


Bitcoin – The first Cryptocurrency

Cryptocurrency started with Bitcoin, created in 2009, and well known for being the currency of choice for the drug marketplace Silk Road. There has been several attempts to copy the success of Bitcoin over the last few years with quite a few (like the top 3 cryptocurrencies: Bitcoin, Ethereum and Litecoin) prospering. That are now more than nine hundred different cryptocurrencies available online.


The most well-known of the cryptocurrencies that are out there will be discussed a little later. Mostly, we will be discussing Bitcoin, but the information here applies to any of the cryptocurrencies that are out there, as well as any of the cryptocurrency strategies or the best Bitcoin trading site. You will have to compare cryptocurrency brokers if you want to find out where to trade. Many offer a cryptocurrency broker bonus for new traders.


Bitcoin´s purpose when cryptocurrency started

The goal of Bitcoin when it was first created was to build an electronic payment system that was peer-to-peer, with no governing body controlling it or determining if a transaction would go through or not. Since the money from a safe cryptocurrency broker or exchange could only be transferred from the actual person to the actual person, security and trust would have become relics of past monetary systems.


The blockchain is there to prevent any double spending. All of the digital payment systems like Bitcoin suffer from that same problem. But the blockchain allows for transactions to be checked so carefully that there is no chance someone could double spend.


Basically how that works is that for any transaction that happens in Bitcoin, there has to be a consensus among all the users that the transaction is allowed.



Cryptocurrency Purpose and Common Uses

Cryptocurrencies a brand new technology. That means that people are mostly using it for the novelty of it right now. In the future, it may be that a digital currency will be used for specific purposes that are not even imagined yet. A Bitcoin trading broker or the online trading of cryptocurrencies could be just as popular as our current financial activities.


Right now, people use Bitcoin for various reasons including trading and sending payment from one person to another. People also use Bitcoin because it’s anonymous. Some people are not comfortable with the fact that a major bank like the Federal Reserve in the United States is the overseeing authority for their money.



Cryptocurrency Summary

To recap, cryptocurrencies use technology to create a decentralized method of payment from one user to another without having any need to give details of your identity or go through a bank. They are checked by a public ledger called the blockchain which is distributed to all users and instantly updated whenever trading cryptocurrency is done. Cryptocurrency trading for beginners starts with understanding how the instruments work, just as Forex trading for beginners or CFD trading for beginners would.



Bitcoin vs. Ethereum

Cryptocurrencies like Bitcoin, Ethereum and Litecoin are vying for the top spot in the world. Ethereum is the only digital currency that has been able to even come close to challenging Bitcoin and the reasons are fairly simple: Ethereum was created in an effort to address some of the shortcomings that Bitcoin had.


What that meant was the Ethereum was able to create transactions that were even safer than trading Bitcoin, as well as more flexible contracts that were compatible with any electronic cryptocurrency wallet. In addition, there were shorter block times so the confirmation is easier, which means that you get the money from a legit cryptocurrency broker or cryptocurrency exchange faster.


In addition, Ethereum is much more available than Bitcoin. At the time of this writing, more than 16 million Bitcoins have been mined and there are a grand total of 21 million approximately. But Ethereum is just beginning and there is plenty left.



Learning the Common Cryptocurrencies

Next up, let’s find out a little bit more about the common cryptocurrencies that are out there. You may have heard of some of them like the ones we’ve already discussed, or the less common if you have done business with an Altcoin broker or another alternative to a Bitcoin trading broker. But let’s get into how to make money with cryptocurrency a little more in detail by exploring the most popular ones that are making the cryptocurrency news.




Bitcoin is the most common of the cryptocurrencies and the most popular one right now. It started in 2009, developed by someone name Satoshi Nakamoto, who developed the blockchain technology. Right now, the market capitalization for Bitcoin is around $45 million.




Ethereum is the competing cryptocurrency with a market capitalization of 18 billion right now. However, Ethereum has split into two different currencies because of a hacking incident that happened in 2016. Now there is Ethereum and Ethereum classic. It is been rather volatile, reaching highs of around $400 and lows of less than a dollar.




Ripple is a little different because it is a currency that is actually backed up by some pretty big banks including UBS. The market capitalization is around $6 billion and it began in 2012.




Litecoin is a currency that may eventually overtake the Bitcoin because of the way that it is developing and progressing. Payments and processes are faster with Litecoin.



The Best Cryptocurrency Brokers

There are a lot of Cryptocurrency Brokers out there to choose from when it comes to cryptocurrency. However, you need to be really careful when you’re choosing a Cryptocurrency broker for this type of exchange. You need to research the broker that you’re using carefully because there are companies out there that are out to scam you of your money and Bitcoin is a popular method of doing so. You want to base your decision on things like fees that are charged, how easy the platform is to use, and of course security, because most brokers will require personal information for you to start trading, to verify your identity and prevent criminal activities that are magnetically attracted to cryptocurrency – like money laundering.
Some brokers like  etoro, iqoption, offers Cryptocurrency webinar which can be a good start for your trading.



Understanding an Exchange

Software platforms that allow people to buy cryptocurrencies and sell them are called exchanges. Trading cryptocurrencies is pretty much a brand new thing, and therefore most of the exchanges that you’re going to encounter are new. You should not let that dissuade you from working with them.

However, you do need to carefully check on exchanges before you deposit any money. You need to find out if they are safe and have a good reputation. What you mostly want to do is check and see if the exchange provides data that everyone can see regarding the coins that are being stored. If so, then it has the cash to liquefy coins if you were to ask for them. You can also check and see if an exchange is regulated in the region where it’s located.



The Advantages of Cryptocurrency Trading with a Broker

Most people that are new to cryptocurrency trading deal with the exchanges themselves. But there are some people who prefer to go through a broker. A broker is going to charge you a commission for helping you to make trades, but there are some advantages to working with one.

One advantage is that a lot of cryptocurrency exchanges are not that user-friendly. A broker may be able to navigate the system better and find the information needed to decide whether or not to invest in a particular cryptocurrency.

In addition, some of these exchanges do not offer customer support, and that is an uncomfortable thing for someone who is depositing money – particularly if you plan on depositing a large amount.

In addition, many brokers have been in the game since the beginning, and they understand how cryptocurrency works and what signs to look for to get in on the ground floor of a cryptocurrency that may blow up in the near future.



Why Cryptocurrency is Becoming Part of Forex Brokering

You might be wondering just why cryptocurrency is being added to many of the Forex brokers around the world. The reason is simple: the volatile nature of cryptocurrency.

Those who are investing in cryptocurrency long-term can buy the cryptocurrency through an exchange and then sit back and let it grow. However, day traders are looking for something quite different. The volatility of cryptocurrency allows for day Traders to buy low and sell high on a regular basis, and this is much easier when it is part of a Forex broker.



How to Choose Your Cryptocurrency Broker

Here are a few things to keep in mind as you are evaluating a broker to invest your cryptocurrency broker.



How is the Cryptocurrency Trading Broker Regulated?

The first thing that you want to know is how the broker is regulated. Each region has their own rules and standards for regulating financial institutions like Forex brokers. Make sure that you know what the regulatory requirements are for a broker in that region and that your broker is meeting them.



How is the Cryptocurrency Brokers Customer Service?

You should also evaluate the customer service capabilities of the broker. Cryptocurrency trading can happen 24 hours a day/7 days a week. That means that customer support should be available during those times as well. A good broker will provide live chat support as well as email support or help through the website. The best brokers will also provide toll free numbers for telephone support.



What Trading Account Types Are Offered?

Another thing to consider is what account types are being offered from cryptocurrency brokers. You definitely want to have a couple of different account options or be able to customize your account to fit your needs. You want a cryptocurrency broker that makes it easy to deposit and withdraw money in a timely fashion, and then offers Bitcoin spreads that are in line with the rest of the financial market.



What Currency Pairs Are Available?

You also want to know what currency pairs are available when it comes to cryptocurrency. If the cryptocurrency brokers do not provide the currency that you most often trade in, then it may be a struggle to make deposits and withdrawals.



Do the Cryptocurrency brokers have the platform type you Need?

Finally, you want to make sure that the platform your broker is using is secure, easy to use and offers you a great deal of helpful tools and information to make trading easy.



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