The internet can be a very useful place to invest and do business at due to the number of opportunities that you can easily grab with just a few clicks of your mouse button. If you want to learn more about Bitcoin, check out this podcast from Bitcoin Country.
When talking about opportunities, Bitcoin sticks right up like a sore thumb. People do actually use search engines to search for the best way to make money out of all the Bitcoin/Cryptocurrency hype. One of the traffic created would be trading cryptocurrencies as well as betting with crypto currencies. But how do you choose the perfect broker for your needs?
When in doubt, people always back up and hold on to facts they have something new to prove that it is safe enough to venture into. This is what happens when a person looks for the best crypto broker in the market, but what is the best?
Or is there such thing as a best trading website? Everyone that is active in the crypto currency scene can name you their top 5 broker websites easily, without any hesitations. But for someone that just started to scratch the surface, everything can be overwhelming!
With that being said, you should and always have a mental checklist to follow in choosing your first cryptocurrency trade. Below are helpful points that you might want to list down.
Regulated Broker
Just like any other website that involves money, you first need to know if that broker is regulated or not. Why? Well, you will be definitely sending money to that website, might as well know if their legit or not, right? Make sure that they are regulated and take your time in researching. But this isn’t always the truth when it comes to dealing with “off-the-grid” brokers like the ones listed on Bitcointradingsites that only accept Bitcoin as payment.
You see, regulated brokers only work if you are transacting with your bank or direct cash deposits. Most of the trading platforms today that accept Credit Cards or Wire Transfers will always need to be regulated for them to accept payments in cash. But if we’re talking about Bitcoin websites that only accept Cryptocurrencies as payment, then we are moving to the grey area. Are they bad?
Well, most of the time these website that are “Unregulated” have cryptocurrency transactions, as we all know, cryptocurrency transactions severe their connections with the banking world. That’s why we see websites that are not regulated by any laws or jurisdiction. Are they safe? That brings my statement back to “Always take your time in researching.”
Accounts
Not all, but most of the time, these online brokers have different levels of accounts which you are able to choose from. A good brokerage website should and always have options for their clients to choose from. These options sometimes include different deposit methods, withdrawals, spreads and a lot more! “Options” is the key word here.
You also need to keep in mind the minimum deposit required per account as this will greatly influence your decision-making. Aside from the options that you will be choosing from, we also need to put in mind the features that a website offers. When talking about accounts, always go for websites or at least give websites that have Demo Accounts the priority. Why? Demo Accounts can help you in so many ways!
The most important thing a Demo Account can help you with would be the ability to try all their features without even spending a dollar on the website.
Currencies
Some of the broker websites today not only offer crypto currency trading, but they also offer stocks, commodity, and Fiat trading. Do not get yourself confused on what you are there for, which is crypto currency. Know what they have and what you are capable of trading with.
Traders who intend to cash out their BTC into fiat money, should check this page on Bitcoinp2pLoans that provides really useful insights on the topic.
Website
This box is pointed on what they have for you in general. What type of website do they have what type of trading platform do they work with? Is it a well-designed one or are you having troubles navigating it? It’s like choosing a car, there is no use in using the latest sports car if you do not know how to operate its digital assets. If this is the case, better choose a 68’ Shelby Mustang since you know how to make it run. In other words, if the website confuses you, then stay away from it.
Customer Service
Last but not the least. When a website involves money, always look for their customer service contact points. Do they have a phone number that you can call? Do they support live chat and email services? The last thing you want to have is a website that has a hold of your money but you are unable to contact them in any way possible. A good website should and always have at least two channels for you to contact them.
List these five most important things that you need to keep in mind in choosing your next Bitcoin broker website today. Please do also keep in mind that these are just my suggestions and are of course, available for any personalization of your own. Just keep in mind that the best website to transact with is a website that you are comfortable enough to give your trust (since they will be holding on to your money) and has the right channels to contact if anything goes south with your transactions.
The big Bitcoin Broker FAQ:
What is Bitcoin and cryptocurrency broker?
Bitcoin is a cryptocurrency whose consensual network allows decentralized payments through virtual wallets and its value can be exchanged by users when purchasing services or other assets. It was the first cryptocurrency created and also the first to operate based on Blockchain.
Who is the best Bitcoin broker?
Currently, Binance is the world’s most recognized Bitcoin exchange for its daily traffic and transaction volume on a daily basis. In addition, Binance has serious security policies that protect its users against eventualities and has different types of trading (Spot, Margin, Futures, etc.), which makes it one of the most complete platforms for exchanging cryptocurrencies.
How much does Bitcoin charge per transaction?
All Bitcoin transactions must make a “donation” to the network to be confirmed, although these fees are not paid based on the total value of the transaction. The commission for a transaction is determined by the size of disk space that a transaction occupies, which is calculated in bytes. There is no exact commission amount for all transactions, but there is an average of $0.5 to $5 for each one.
How can I send Bitcoin to someone?
The first step in making a transaction is to have a funded BTC wallet. The sender will need a BTC address from the recipient (For example: 31uEbMgunupShBVTewXjtqbBv5MndwfXhb) in order to successfully send the tokens. To complete this process, only this address is specified, the total amount of the transaction and the reason for transaction (optional).
Which is the best Bitcoin wallet?
The best BTC wallet will depend on how many funds the user wants to save and the frequency with which he makes transactions. In other words, if a user wants to save many BTC tokens, he will need more security, so a hardware/cold storage wallet (Ledger Nano or Trezor, for example) that only he will have access to is more convenient for him. If a user wants to make many transactions a day, it is advisable to use an online or hot storage wallet as long as he has the correct security measures and the wallet service offers low commission rates.
How do you cash out a Bitcoin?
There are different methods to convert your BTC tokens into fiat currency. Some exchange companies allow their users to exchange cryptocurrencies for USD or Euros (As in the case of Coinbase) and they will have to wait a couple of days for their money to be reflected in their bank accounts. There are also direct supply and demand exchanges like LocalBitcoins, where users will buy BTC via fiat transfers to crypto holders.
Do you pay taxes on Bitcoin?
In cases like the United States, it is currently not possible to pay taxes directly in Bitcoin because the IRS does not recognize them as payment of tax liabilities. However, there are payment processors whose service will allow you to use your cryptocurrency money to pay taxes.
Can you transfer Bitcoin to a bank account?
It is impossible to transfer Bitcoin tokens to a bank account, since fiat currencies and cryptocurrencies are two completely different formats. However, it is possible to exchange Bitcoins for fiat currencies, which are deposited in traditional bank accounts.
Can I make money with Bitcoin?
Bitcoin is recognized as one of the most volatile cryptocurrencies and its price has remained in a range of between $3,000 to $20,000 in recent years. Any price variation will generate profit depending on whether you buy or sell BTC. Some people prefer gambling with bitcoin in online casinos due to its pseudonymous feature. Casinos which accept Bitcoin can be found
here.
Is it worth investing in Bitcoin?
Investing in Bitcoin is an excellent option to generate income in the short or long term. Events like “Bitcoin Halving” and global events hold historical records of boosting the value of this cryptocurrency by more than 100% in a matter of weeks, offering excellent opportunities for those who purchase BTC at a good price.
How do you flip money in Bitcoin?
As stated above, it is possible to double your Bitcoin tokens or the value in fiat currency that it represents. Assuming you bought $4,000 in Bitcoins, when 1 BTC equals $4,000 and thereafter its value increases to $8,000, the BTC you purchased at $4,000 is now worth $8,000, generating a 100% profit in fiat currency. If the Bitcoin price dropped to $4,000 again, you could buy twice as many tokens as before and then make twice as much profit on a potential rise.
How do I start trading?
To start Bitcoin trading, you must subscribe to an exchange platform such as Binance, Coinbase, Bitfinex, etc … which allow you to trade pairs of BTC/altcoins and/or BTC /stablecoins. It should be noted that trading requires knowledge of market behavior.
Can you start trading with no money?
It is mandatory to have funds to be able to trade with Bitcoin or any other digital asset. Although some brokers and exchange companies offer leverage services, allowing you to operate in the market with more capital than you have.
Is online trading safe?
Online trading will always be safe if you are subscribed to a broker with good security protocols and maintain good risk management in your market entries. In other words, if you have good computer security and know how to manage your trades, your funds will be safe.
How can I learn online trading?
There are several methods to learn trading in any market in which you want to start. Currently, many experts have trading courses in which they explain the behavior of the market and the strategies used to make profits, although there are also alternatives for beginners such as signal groups and educational videos on trading.
What is the best platform to invest on Bitcoin?
The best platform to invest in Bitcoin will be a subjective perception for each user depending on the use they want to give their tokens. Platforms like Coinbase are excellent for cryptocurrency holding for their excellent security construct and others like Binance or Bitfinex are usually better for crypto trading because of their wide range of options on the market.
Are there any anonymous Crypto Exchanges without KYC?
Today, it is not easy to find a trustworthy cryptocurrency exchange platform without KYC. That’s the short form of “Know Your Customer” – A mandatory legitimation check of certain new customers for credit institutions and insurance companies to prevent money laundering. But even nowadays, there are still some anonymous crypto exchanges left, as we found in a publication
by Trading Browser. But theres one thing to know: “[..] such platforms are run on the blockchain and most of them only accept blockchain transactions.” If you’re new to crypto and want to buy some Coins with money, you have to look for a FIAT crypto exchange.
Are Bitcoins legal? Are Bitcoins legal in the US?
Bitcoin is legal in the United States and in almost all countries belonging to the first world, although there are nations that prohibit its residents from having Bitcoin and / or limit its use. However, it is safe to say that the adoption of Bitcoin has been increasing over the years worldwide.
Do you have to pay taxes on Bitcoin?
Having Bitcoin will only demand tax payments if they are disposed of. You will not have to pay taxes to buy Bitcoin, however, if you bought Bitcoin in the last year and sold them with a profit margin, you will have to pay an ordinary tax margin.
Can the IRS track Bitcoin?
Yes. Just as miners must keep a record of the value of the asset on the day it was mined, employers who pay their employees in BTC must report said payments to the IRS and keep records of their returns.
Can you lose money investing in Bitcoin?
Just as you can earn money by investing in Bitcoin, it is as possible as losing money by making such an investment. Buying BTC tokens at a very high price defines a risk, since the value of BTC could fall and generate losses. Therefore, it is necessary to know when and how to buy tokens.
Disclaimer:
The infomation on this website is not fiancial advise! BestBitcoinBroker.net is not responsible for any losses that may happen by trading on these trading platforms. Do not risk more than you can afford to lose.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
