Are you looking for a Bitcoin broker? But you don’t know which one is the best for you? Are you wondering which Bitcoin broker accepts Paypal payments? Or do you want to know which Bitcoin broker equips traders with everything they need for trading? Then you’ve come to the right place!
In our Bitcoin Brokers review 2023, we provide you with answers to all the above questions and much more. Our test only applies to Bitcoin brokers that are trustworthy and enable secure trading. In short: Here you will find the best in the industry.
Our test winner: The best Bitcoin broker is a real all-rounder!
The clear winner in our comparison is eToro. For beginner traders, we would recommend looking at Bitcoin Up. It is an automated trading platform, we believe this platform gives a great chance to start trading in the stock or cryptocurrency market right now. The world’s largest social trading platform convinced us in every respect and outperformed its competitors. In short, the following points convinced us of the Crypto CFD broker:
- The operation of the platform is very easy and intuitive.
- Trading is possible with a free demo account.
- Very good customer service around the clock.
- Accurate Litecoin future predictions and other cryptocurrencies.
- You wonder which Bitcoin broker offers Paypal payments: eToro does!
- eToro is the only Bitcoin broker we know of that also allows real Bitcoins to be sent.
In addition, this Bitcoin broker has a trader affinity. Here you will find charts with an extensive selection of indicators and tools without the need to download additional software. In addition, traders can earn extra money through the lucrative social trading programme on eToro.
The best Bitcoin brokers in direct comparison
In our comparison, we have directly compared the best providers in the industry. We have used the following criteria as comparison values:
- Does this Bitcoin broker support Paypal?
- Are the deposits insured?
- Is it possible to test the platform extensively and free of charge with a demo account?
- How high is the respective minimum deposit?
- How many different cryptocurrencies are offered for trading?
- And of course, we also asked ourselves whether the Bitcoin broker is trader-friendly. In other words, do traders find all the tools and aids they need to trade successfully on the platform?
The result of this evaluation is shown in this table. By clicking on the respective provider in the Provider column, you can also directly access the homepage of the respective platform.
| Provider | Does this Crypto broker support Paypal? | Insurance of deposits? | Demo account | Minimum deposit | Number of cryptocurrencies | Is this Bitcoin broker trader affine? |
| Immediate Edge | yes | yes | yes | 250$ | 15 | yes |
| Plus500 | yes | yes | yes | 100$ | 12 | yes |
| Skilling | no | yes | no | 100$ | 10 | yes |
We have checked the research and found that the best is Immediate Edge, please read Immediate Edge UK reviews to find out how to start trading now.
Disclaimer: CFDs are complex instruments and come with the high risk of losing money quickly because of the leverage effect. Between 75% and 89% of retail investor accounts lose money 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.
What is a Bitcoin Broker?
A broker is a person or firm that acts as an intermediary between an investor and an exchange. Since exchanges only accept orders from individuals or firms that are members of that exchange, individual traders and investors require the services of exchange members. Brokers provide this service and are compensated in various ways. For example, this is done either through commissions, fees or by being paid by the exchange itself. Your Bitcoin broker buys BTC for you from a Bitcoin exchange. He also offers you CFD trading. In return, you pay him a fee for this service.
In addition to executing client orders, brokers can also provide investors with research, investment plans and market information. In the past, only the wealthy could afford a broker and gain access to the stock and general financial markets. The great success of online brokers triggered an explosion of “discount brokers” that allow investors to trade at lower costs but without personal advice.
What is a Bitcoin CFD Broker?
Bitcoin CFD brokers have been a popular trading venue for cryptocurrency since 2015. Especially since they come from the traditional investment market. This means that in addition to cryptocurrencies, they usually also offer trading in shares, ETFs and other financial products.
CFD is the abbreviation for Contracts for Difference. A Bitcoin CFD broker provides contracts for difference that allow trading of the Bitcoin price in both directions and with leverage. This means that such Bitcoin brokers allow traders to bet on falling and also rising prices. They can also do this with leverage.
However, no cryptocurrency is acquired directly, but only the respective price is traded. Therefore, it is usually also not possible to send cryptocurrencies from Bitcoin Broker to a private wallet. The only exception is eToro. At eToro you can buy real Bitcoin and other cryptocurrencies.
All of the Bitcoin brokers mentioned above are also Bitcoin CFD brokers.
Why do Bitcoin brokers attract traders?
Have you ever wondered why traders use brokers at all? The answer is quite simple. They love the wide range of opportunities they get there!
Here are some good reasons to use a broker:
- You can trade cryptocurrencies on a Bitcoin broker without having to set up your own wallet.
- They also offer you trading in many other financial instruments. These include, for example, currencies, commodities and shares. This makes it possible for a trader to diversify his portfolio and limit his risk.
- They allow you to trade with leverage. You can trade cryptocurrencies, shares, currencies or commodities with leverage to maximise your profit.
- Traders can also bet on falling prices in cryptocurrencies by using Bitcoin CFD brokers. This way, they profit even if the Bitcoin price falls, for example.
The Allure of the Bitcoin Trading Bot: How Brokers Draw In Crypto Traders
In the ever-evolving realm of cryptocurrency trading, one tool has stood out as a beacon for both novice and seasoned traders alike: the bitcoin trading bot. These automated trading systems, designed to execute trades on behalf of the user by following pre-set parameters or strategies, have become an indispensable asset for many looking to optimize their trading strategies. Brokers, recognizing the potential of these bots, have incorporated them into their platforms, not only to provide value to their users but also as a potent draw for attracting a broader range of crypto traders.
For a trader, the prospect of automating some aspects of their trading strategy, while still having the potential for profitable outcomes, can be an enticing proposition. The convenience of setting up a bitcoin trading bot, combined with the possibility of passive income generation, is a compelling incentive. On the other hand, brokers benefit immensely by showcasing the availability of these advanced tools on their platforms. In doing so, they position themselves as industry leaders, differentiating from competitors and ensuring they remain at the forefront of the trading community’s mind. The symbiotic relationship between traders, bots, and brokers is a testament to the dynamic nature of the crypto ecosystem.
What is the difference between an exchange and a broker?
If you want to invest in Bitcoin, you have the choice between different points of contact. The main distinction is between a Bitcoin exchange and a broker.
An exchange offers a so-called peer-to-peer trade with another person. Behind every purchase is a seller. Strictly speaking, an exchange is a trading place that brings buyers and sellers together. It earns money on the one hand through fees. Many exchanges also earn through the difference between the seller and the buyer. For example, if a seller wants to sell 1 BTC for €5,550 and a buyer is willing to pay €5,600 for 1 BTC, the exchange buys the BTC from the seller in order to sell it to the buyer at a direct profit of €50.
A Bitcoin broker also offers a very uncomplicated and user-friendly processing of buy or sell orders. The broker uses exchanges in the background to execute the desired orders for the users. He is a middleman who actually carries out the purchase or sale of cryptocurrencies for a user. Such a broker is preferred by traders because of the diverse trading possibilities already listed above.