Best Bitcoin Brokers 2024
Bitcoin is one of the hottest assets on the financial market today. Thanks to its unique blend of anonymity, security, and volatility, Bitcoin trading has become extremely popular with traders of all experience levels. However, finding a reputable broker is essential for anyone looking to trade Bitcoin.
With so many fly-by-night operations popping up, it can be tough to separate the wheat from the chaff. That’s why we’ve put together this list of the best Bitcoin brokers for 2023. Whether you’re a beginner or a seasoned pro, these brokers will help you get the most out of your trading experience. So what are you waiting for? Start exploring the exciting world of Bitcoin trading today.
Top 9 Bitcoin Brokers in the World
If you’re thinking about investing in bitcoin, one of the first things you’ll need to do is find a reputable bitcoin broker. With the cryptocurrency market growing rapidly, there are now more brokers than ever to choose from. But with so many options, it can be tough to know where to start. That’s why we’ve put together a list of the top 9 bitcoin brokers in the world. From well-established platforms to newer players, there’s something for everyone.
With the total value of all bitcoin now exceeding $1 trillion as of 2023, there’s never been a better time to get started. But before you invest, it’s important to remember that bitcoin is a volatile asset, and its prices can fluctuate rapidly. So be sure to do your research and only invest what you can afford to lose.
| Broker | Best For | Maker fee | Taker fee | Number of Supported Coins |
|---|---|---|---|---|
eToro |
Copy Trading |
N/A |
N/A |
25+ |
Coinbase |
Crypto Investors and Traders of All Skill Levels |
0.00% - 0.40% |
0.05% - 0.60% |
150+ |
Binance |
Zero Fee Trading |
0.1000% |
0.1000% |
100+ |
Kraken |
High Level of Security |
0.16% |
0.26% |
120+ |
Crypto.com |
Low Fees |
0.04% - 0.40% |
0.10% - 0.40% |
250+ |
Paxful |
Peer-to-Peer Crypto Trading |
0.1% - 5% |
0.1% - 5% |
3 |
Gemini |
Beginner and Advanced Crypto Investors |
Fee of $0.99 to $2.99 based on the amount or 1.49% for trades over $200 |
Fee of $0.99 to $2.99 based on the amount or 1.49% for trades over $200 |
63 |
Bittrex |
Low Fees for Advanced Traders |
0.35% |
0.35% |
440 |
XT.com |
Extensive Cryptocurrency Selection |
0.20% |
0.05% |
398 |
eToro USA - Best For Copy Trading
With eToro you can buy cryptocurrencies as well as stocks and ETFs. You can copy other investors' trades with its unique social trading feature.
CopyTrader is an innovative feature of eToro. With one click, eToro users can copy the trading of their favorite high-performance traders. Set your desired amount of money.
You can automatically mirror your favorite eToro trader's positions by allocating those funds. The social trading platform does not charge any management fees or other fees. It allows users to copy only one successful trader or up to 100 simultaneously using this trading tool.
There isn't a wide selection of cryptocurrencies on eToro when compared with the best cryptocurrency exchanges. Approximately 25 cryptos are available to U.S. investors, while non-U.S. investors can access around 75. There are also hundreds of cryptocurrencies available on other major U.S.-based exchanges.
There is a 1% fee plus a spread associated with crypto transactions on eToro. Compared to some of its competitors, this is a lower fee, but it is certainly not the most competitive. It is possible to trade crypto on some platforms for less than 0.1%. The costs of paying more than 1% in transaction fees can quickly eat into your profits if you plan to buy a lot of digital currencies. For buy-and-hold investors planning to hold crypto for a long period of time, eToro charges an inactivity fee after a year of inactivity.
👍 Pros
•Invest in stocks, ETFs, and cryptocurrencies
•Investors can copy each other's trades
•The app is user-friendly
•Debit card deposits are free
👎 Cons
•Cryptocurrency choices are limited
•Fees could be reduced
•State-by-state availability varies
Coinbase - Most Trusted Crypto Exchange
Coinbase is a popular cryptocurrency exchange that makes buying, selling, and exchanging cryptocurrencies easy. With Coinbase, you can buy Bitcoin just like you would a stock through an online brokerage, but be wary of the fees and poor customer service.
Beginners with basic computer skills can easily trade on Coinbase. Using Coinbase is as simple as going to the Coinbase website or downloading the Coinbase app for Android or iOS. You'll find the experience somewhat similar if you've traded stocks through an online brokerage.
Coinbase's main dashboard lets you see your portfolio, and buying and selling currencies are always just a few clicks away.
As of late, Coinbase has removed its full fee schedule from its online help section. But when you enter a trade, you can see how much you're paying on the trade screen.
👍 Pros
•Simple to use for beginners who are new to cryptocurrency
•A large number of cryptocurrencies are supported
•Opportunities to earn cryptocurrency
•Coinbase Pro offers lower pricing
👎 Cons
•Fees for transactions could be high
•Issues with customer service
•Several altcoins are not accessible for trading
Binance USA - Best for Zero Fee Trading
The Binance US crypto exchange offers a blend of useful charts and a simple user interface. Moreover, Binance US's spot trading fees are rock-bottom, and instant-buy fees are extremely competitive. Sadly, not all residents of the U.S. can access this platform.
Customers of Binance US can trade in tiers according to their risk tolerance.
There are no fees associated with Tier 0 trades in this case. The BTC/USD pair, BTC/USDC pair, BTC/USDT pair, and BTC/BUSD pair are the only four Bitcoin (BTC) trade types allowed. Tier 1 and Tier 3 cover the rest of the trades.
On certain asset pairs, Tier I trades have taker fees of 0.20% and maker fees of 0.1%. Some examples are Ethereum (ETH)/USD and Solana (SOL)/USD.
A Tier II trade starts at a 0.60% taker/0.40% maker fee for trading less than $10,000 in a 30-day period. Examples of Tier II asset pairs include Cardano (ADA)/USD and Polkadot (DOT)/USD.
Binance Fees ReviewThe more you trade on Binance US, the lower your trading fees become. On Tier I trades, traders with a 30-day trading volume greater than $50,000 but less than $100,000 will pay 0.075% taker fees. You can also save on transaction fees by using the platform's proprietary coin, BNB.
Its educational resources are not as impressive as those provided by its partner company in other geographic regions. In spite of that, Binance.US remains a very competitive platform, thanks to its industry-low tiered fees.
👍 Pros
•Its fees are low, especially when compared to its main competitors
•Support for a wide variety of cryptocurrencies
•Easily navigable trading platforms for crypto novices
👎 Cons
•Some U.S. residents may not be eligible
•The parent company suffered a major hack in 2019
Kraken - High Level Of Security
Kraken is one of the most established crypto exchanges on the market, having been launched just two years after Bitcoin. There is no rule that says the oldest is always the best, but Kraken is an exceptional platform with top-of-the-line security and more than 120 coins for domestic users and 160 for international users. Additionally, you can stake your crypto and earn rewards, all at a lower price point than average.
Those just starting out in cryptocurrency or those with more experience can benefit from Kraken's top-notch security, lower trading fees, and wide range of available cryptos. To avoid losing significant amounts of your investing dollars to spot trading fees, it is important not to stay at the beginner level for too long.
Kraken's basic version charges 0.9% flat fees for stablecoins, and 1.5% flat fees for all other cryptocurrencies.
Kraken Fees ReviewUsers of Kraken Pro, the higher-end version, pay considerably less. In the pro version, trades of $50,000 or less are charged a maker fee of 0.16% and a take fee of 0.26%.
Kraken's range of coins may appeal to more experienced crypto investors. Margin and staking are two options available to users. These last two had previously distinguished Kraken from many other leading platforms, but recently they were restricted to those with large amounts of assets in the U.S.
With more trading volume, Kraken offers more cryptocurrency trading markets and lower fees for advanced traders.
👍 Pros
•A range of advanced features, including margin trading and stakes.
•Excellent customer service options.
•Withdrawal fees for Bitcoin (BTC) are relatively low.
•A wide range of educational materials are available.
👎 Cons
•The exchange is not available in all 50 states.
•Fiat currencies are the only ones Kraken accepts.
•There have been many complaints about hacked accounts from users.
Crypto.com - Best for Low Fees
You may find Crypto.com to be a good option if you're looking for an all-in-one cryptocurrency platform that's affordable and easy to use. Aside from rewarding its users in several ways, Crypto.com offers over 100 different cryptocurrencies for investment. In addition to using crypto for everyday purchases, the exchange has its own VISA card. Furthermore, Crypto.com's debit card offers 8% cash back on purchases. You can earn crypto positions through crypto.com's rewards program if you enjoy spending money.
Also, Crypto.com withdrawal fees are free. Remember that if you're using a blockchain like Bitcoin or Ethereum to withdraw your funds, you'll still need to pay a transaction fee to miners.
👍 Pros
•A wide range of crypto assets are available.
•Cash transfers have low fees.
👎 Cons
•There are relatively high fees associated with credit and debit purchases.
•There are some services not available in the U.S.
•Trades between cryptos are not allowed.
Paxful - Wide Choice Of Payment Options
You can find others who are interested in using cryptocurrency to complete transactions with Paxful, a peer-to-peer (P2P) cryptocurrency exchange. In terms of financial exchanges, there are several features that make it appealing to those seeking a bankless method.
Although Paxful does offer some decentralized finance (DeFi) options, it isn't as robust as some other DeFi options. Moreover, Paxful has an iOS and Android app.
Paxful has an easy-to-use trading interface. Mobile and desktop trading apps are available.
For opening a trade, all you need to do is click the "New Order" button. Using Paxful's Facebook page or Instagram account, vendors can advertise their crypto offers to attract more buyers.
Paxful has pretty low fees when it comes to trading. When you withdraw money from an exchange to your bank account using a credit card, you will have to pay a service fee of between 1% and 2%. Paxful does not charge for buying Bitcoin, but most sellers pay between 0.1% and 5% in transaction fees.
Despite Paxful's good trading conditions and good features, you are only able to buy a limited number of cryptocurrencies. Bitcoin (BTC), Tether (USDT), and Ethereum (ETH) are the only supported currencies.
👍 Pros
•Cryptocurrency purchases are free
•There are more than 350 ways to pay or receive payment when selling Bitcoin
•Become an affiliate and earn extra income
👎 Cons
•Your options for buying crypto are limited
Gemini - Safest Crypto Exchange
Whether you're a beginner or an experienced trader, Gemini is a good option. If you are interested in crypto investing or trading, Gemini offers industry-leading security features, a hot wallet, and a comprehensive support center.
User-friendly features are available on Gemini's website and mobile app. Its simple purchase and selling options as well as its extensive support page make Gemini an ideal choice for beginners. With its ActiveTrader platform, experienced traders can execute trades quickly and can access advanced charting tools.
Other exchanges use a maker/taker fee structure, but Gemini uses a flat fee. There are different fees depending on the amount you trade and the platform you use. Gemini, for example, offers a fee schedule for mobile devices and a fee schedule for desktops. If the trade is more than $50 but less than $200, the fee is $2.99, and if the trade is more than $200, it is 1.49%.
Despite its transparency regarding its fees, this exchange's fee structure is more complex than that of some other exchanges. Additionally, it charges slightly more than many of its competitors in the industry.
👍 Pros
•The exchange is available in all 50 states of the United States
•Offers insurance for hot wallets
•Strict security measures
👎 Cons
•There are only about 100 cryptocurrencies available
•Fees associated with trading can be high
Bittrex - Leading Virtual Crypto Exchange
In terms of crypto exchanges, Bittrex offers just about everything a crypto investor could ask for. In comparison to most of its competitors, it offers robust security, reasonable trading fees, and more cryptocurrencies.
Bittrex offers more than 140 cryptocurrencies. In addition to the big market leaders, there are a variety of smaller tokens to choose from.
Bittrex charges 0.35% trading fees, which can go as low as 0.1% depending on how much cryptocurrency you trade. The fees aren't the lowest we've seen, but it's certainly an affordable exchange.
In addition to limit orders and stop orders, Bittrex offers advanced charting tools and a live order book. When it comes to investing in cryptocurrencies, this exchange should be able to provide you with the features you need.
Despite heavy demand, Bittrex's trading engine is designed for quick trade execution. Active investors can take advantage of this to capitalize on price movements.
👍 Pros
•Exceptional security
•A great selection of cryptocurrencies
•Fees are low
•Tools for advanced traders
•A strong collection of educational materials
👎 Cons
•Customer service is average
•Challenging for beginners
XT.com - Best Selection of Cryptocurrencies
According to XT.com, there are three reasons to choose their trading platform over other platforms. Their matching engine is highly efficient. As a result, any trades you wish to make will be executed promptly and without delay. Their security measures are also very strong. Measures such as offline signatures, layers of architecture, and separating hot and cold wallets are some of these measures.
Third, they offer over-the-counter trading. Using OTC-trading, you can make larger trades quickly. Those trades that you do not want to execute on the open market due to pricing reasons (also called slippage).
The trading fee on XT.com is 0.20% for takers. Conversely, makers have to pay only 0.05% per order executed and trade at a substantial discount. As a result, these fees are comparable to industry averages, if not slightly lower.
👍 Pros
•More than 100 cryptocurrencies and 300 trading pairs are available.
•Diversified trading categories are available on the platform.
•The FAQ and support forum are available along with the live chat option.
👎 Cons
•Training programs and study guides are not available.
What Is a Bitcoin Broker?
A Bitcoin broker is a platform that allows you to buy and sell Bitcoin. When you buy Bitcoin through a broker, you are essentially buying it from the broker themselves. The main benefit of this is convenience - you don’t have to set up your own Bitcoin wallet or deal with the complexities of managing your own private keys. However, it’s important to remember that brokers are businesses, and they will charge fees for their services.
So, if you’re thinking about using a broker to buy Bitcoin, be sure to compare the fees charged by different platforms before making your decision. In addition, remember that brokers are not regulated in the same way as traditional financial institutions. This means there is a higher risk of fraud - so make sure you only use a reputable broker others recommended.
How To Choose a Bitcoin Broker?
When it comes to choosing a Bitcoin broker, there are a few key things to look for. First, you’ll want to ensure that the broker offers good liquidity. This means that there will be no delays or problems when it comes to buying and selling Bitcoin. Security is also crucial. You’ll want to choose a broker that uses robust security measures to protect your money.
This means that they use industry-standard security measures, such as multi-factor authentication and cold storage. Finally, you need to be aware of the scams and fraud prevalent in the industry. Many brokers claim to be able to provide you with high-quality coins at unbeatable prices but then vanish into thin air with your money. Here are more factors to consider to keep this from happening.
Reliability
First, you’ll want to consider the broker’s reliability. What’s their track record like? How long have they been in business? Do they have a good reputation? What do their customers have to say about them? If they mostly have positive reviews about their platform, liquidity, security, and trustworthiness, then they may be worth it.
You’ll also want to look at their cybercrime mitigation measures. How secure is their platform? Do they have cold storage? Do they offer biometric, finger, or facial identification? In this digital world, we’re living in, two-factor authentication may not be enough anymore.
Third, you’ll want to check if the broker has commercial crime insurance. This will protect you in case of any fraudulent activity. Make sure to read the terms and conditions of the broker carefully to avoid any surprises down the road.
Educational Materials
When it comes to investing, proper education is key. Before putting your money into anything, you need to know what you’re doing. That’s why choosing a broker that offers educational materials on their platform is important. These can include guides, tutorials, webinars, and more.
By having access to this information, you can learn about the basics of buying and selling Bitcoin. You can also learn about more advanced topics, such as technical analysis and charting. This will help you make better-informed decisions when it comes to investing in Bitcoin.
How to Earn Free CryptoMultilingual Support
When choosing a Bitcoin broker, one important factor is whether the broker offers multilingual customer support. This can be extremely beneficial if you’re not fluent in English and need assistance with the buying or selling process. With multilingual customer support, you can be sure that you’ll be able to understand the broker and get the help you need.
In addition, multilingual customer support can also be helpful if you’re dealing with a broker in a different time zone. By having someone who can speak your language and understand your needs, you can avoid any misunderstandings that could delay or even prevent a successful transaction. It could make all the difference in having a successful transaction.
Passive Income Options
When it comes to earning a passive income from Bitcoin, there are a few different options available to traders. One popular option is to participate in an air drop. With an air drop, traders receive a certain amount of Bitcoin in exchange for holding onto the currency for a set period. This is a great way to earn a passive income, as it requires very little effort on the trader's part.
Another option is to stake your Bitcoin. This involves locking up your Bitcoin to help verify transactions on the network. In return for your efforts, you will earn interest on your Bitcoin. Some exchanges also offer direct lending services. This allows you to lend your Bitcoin directly to another trader and earn interest on the loan.
Affiliates and referrals are also another great way to earn money with your broker. By referring new customers to the broker, you can earn a commission on their trade commissions. So, if you’re looking for a way to earn extra income, check whether the broker has a referral program.
Fees
Fees are one of the important factors to consider. Some brokers charge a flat fee for every transaction, while others charge a percentage of the amount being traded. You’ll also want to look at the exchange rate offered by the broker. Make sure you compare it to the current market rate to ensure you’re getting a good deal. Another thing to consider is the payment method. The best Bitcoin brokers offer a wide array of options, from wire transfers to credit cards and e-wallets.
How to Start Trading Crypto
Below is a four-step process on how to start trading crypto:
Step 1. Choose a US-Regulated Crypto Trading Platform
The first step to trading crypto is to decide on a reliable crypto trading platform and open an account. Some of the best crypto trading platforms are eToro, Coinbase, Binance, and Gemini. These platforms offer a good variety of altcoins and are easy to use.
Create an account by providing basic identification information like name, date of birth, and email address.
Step 2. Start with minimal investment
The next thing to do is to fund your newly created account. Bank deposits by wire transfers and debit cards are one good way to fund your account. You can start trading with as little as $100. Remember that you should invest with capital that you are willing to lose. This is because you may not be able to tell the outcome of your first trade. This is why you need a trading strategy.
Step 3. Test Your Strategy
When you decide on the coin you want to trade with, you need to develop and test your strategy. This strategy will rely on the crypto knowledge that you have amassed. As a beginner, try low-activity trend strategies that use low leverage and some trades. Keep in mind that managing risks is a skill that is important in trading.
Step 4. Learn, Learn, Learn
You should learn how the cryptocurrency market works and its terms before starting crypto trading. This is because the crypto market differs from other financial markets, and you may lose your capital.
As a beginner, you need to learn trading strategies. It would be best to have a mentor or financial advisor to guide you through this process.
How to Learn Crypto?Is Crypto Trading Worth It?
Crypto trading can be a great way to make money, but some risks are involved. The biggest danger is that the market is very volatile, and prices can drop suddenly. This makes it hard to predict what will happen, and you could lose a lot of money if you’re not careful. Another risk is that cryptocurrencies are not well-regulated, so it’s easy for scams to happen. You could also lose money if you don’t do your research and invest in a good project.
However, if you approach crypto trading carefully and with a good risk management strategy, you can significantly reduce the risks and increase your chances of making a profit. For example, diversification, the use of long-term strategies, and the refusal to trade with large leverage can all help to reduce risk. Of course, there is no guarantee that you will always make money when you trade cryptocurrencies, but if you are careful and strategic, the potential for profit is definitely there.
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
FAQ
What is a Bitcoin broker?
A Bitcoin broker is an online trading platform that allows you to buy and sell Bitcoin and other cryptocurrencies.
How do I choose a Bitcoin broker?
When choosing a Bitcoin broker, you should consider factors such as fees, security, available coins, customer support, and reliability.
What are the benefits of using a Bitcoin broker?
Using a Bitcoin broker can be more convenient than buying Bitcoins directly from an exchange.
What are the risks of using a Bitcoin broker?
There are several risks associated with using a Bitcoin broker, including the risk of fraud and the risk of loss or theft.
Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.