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The Best Bitcoin Brokers for Beginners in 2022.

Best Bitcoin Broker

There are re-occurring questions like, who are the best Bitcoin brokers? What do bitcoin brokers do? Which broker is recommended for beginners? And how do I safely buy and store my bitcoin and alt-coins? If you have found yourself in the position of asking any of those questions, then this article is for you.

In this article, we are going to walk you through the comparison between different Bitcoin brokers as of the year 2022. We have considered a lot of factors affecting the comfortability of traders and have come up with a list of the top Bitcoin brokers both for experienced traders and beginners.

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What is Bitcoin?

Bitcoin is a form of internet/digital money known as cryptocurrency. It is a decentralized digital currency that can be sent from one user to another through a peer-to-peer network.

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Bitcoin was first launched in the year 2009 by a man popularly known as Satoshi Nakamoto. Bitcoin come into existence through a process called mining. To learn more about Bitcoin and its blockchain technology, you can click here.

What do bitcoin brokers do?

Bitcoin brokers facilitate the purchase and sale of Bitcoin and other cryptocurrencies. They are highly trusted bodies and are sometimes licensed by the government to oversee the buying and selling of Bitcoin and other cryptocurrencies.

They do this by making sure that transactions are valid in the peer-to-peer network and other ways that users transact. Without the assistance of these brokers, there would be numerous reports of scams on the cause of buying and selling of Bitcoin and other cryptocurrencies.

Factors Used in picking the Best Bitcoin Broker.

Whether you are a beginner or an experienced trader, and you are looking for a quick overview of the different Bitcoin brokers, then this post is for you. Our comparison of the different Bitcoin brokers is based on the following factors:

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  • Trust
  • User-friendliness.
  • Diversity
  • Security
  • Minimum deposit.
  • Educational resources
  • Charges
  • Customer service
  • Market spread
  • And lots more.

What is the best bitcoin broker in 2022?

In the comparison between the different bitcoin brokers, some have features deemed better than others for easy navigation, user experience, and trust.

In case you are in a rush and are looking for a quick overview of these brokers, here is the list of the Best Bitcoin Brokers and some of the features that earned them those positions.

  • Coinbase: ease of use and strong security.
  • Cash App: Best in peer-to-peer network.
  • Bisq: the most decentralized.
  • Binance: the best exchange for alternative coins.
  • eToro: good user-interface.
  • Swissquote: Best when it comes to trust.
  • IG: Best in terms of educational resources.
  • City Index: good all-around offering.
  • AvaTrade: A Variety of Platform Options
  • XTB: Best in terms of customer service.
  • HYCM: Provides a variety of crypto CFDs.

Review of Top 11 Best Bitcoin Brokers in 2022

Apart from the features used to describe the different Bitcoin brokers above, there are some other features possessed by these brokers.

Here are the overviews of the different Bitcoin brokers as of the year 2022.

1) Coinbase

Coinbase is among the best Bitcoin brokers because it has an easy-to-use interface and a high-security network. In addition to that, Coinbase has the following features:

  1. A solid variety of alt-coin choices
  2. Extremely simple user interface.
  3. Very high liquidity.
  4. Educational resource for beginners.
  5. Transaction fees are minimal.

Visit their Website

2) Cash App:

Cash app is among the list of the best bitcoin brokers because it has the following features:

  1. Withdrawing Bitcoin and other cryptocurrencies is simple.
  2. Simple user interface.
  3. Peer-to-peer transfer
  4. Low transaction fee (varies sometimes).

Visit their Website

3) Bisq:

Bisq is among the lists of the best bitcoin brokers because it is a decentralized, open-source exchange that does not require Know Your Customer (KYC) information. In addition to that, Bisq has the following features:

  1. It has a mobile app for both Android and IOS.
  2. It has a vast payment method.
  3. It is decentralized.
  4. It is highly trusted.

Visit their Website

4) Binance:

In the list of the best Bitcoin brokers, Binance is ranked because it offers a diverse range of cryptocurrencies in addition to the most popular digital coin, bitcoin. Also, Binance has the following features:

  1. A large variety of cryptocurrencies
  2. Lower fees
  3. Ideal for alt-coins.
  4. More advanced charting
  5. Highly trusted
  6. Educational resources.

Visit their Website

5) Etoro.

eToro appears among the list of the best Bitcoin brokers because it has the following features:

  1. It allows a minimum deposit of $50-$200.
  2. High trust.
  3. It offers a user-friendly web-based platform and mobile apps.
  4. Large number of investors to copy.
  5. A broad range of markets

Visit their Website

6) Swissquote

Swissquote is a very good Bitcoin broker because it has the following features:

  1. Strong banking service.
  2. High quality research.
  3. Multi-asset offering.
  4. High trust.

Visit their Website

7) IG:

IG is also one of the best crypto brokers in comparison with others; this is because it possesses the following features:

  1. High trust.
  2. Good at mobile trading.
  3. Outstanding platforms and tools
  4. Competitive pricing

Visit their Website

8) City Index

The City Index has the following features:

  1. A deposit of $100 is required as a minimum.
  2. Excellent mobile app.
  3. Diverse market research.
  4. Extensive range of markets.

Visit their Website

9) AvaTrade:

AvaTrade is a very good Bitcoin broker because it offers the following features:

  1. It is very good for copy trading.
  2. High educational resources.
  3. Market spreads are competitively low.
  4. It is also a highly trusted platform.

Visit their Website

10) XTB:

XTB is recognized in terms of customer service efficacy. In addition to that, it has the following features:

  1. A robust selection of trading tools
  2. It is also a well-trusted platform.
  3. It offers 25 cryptocurrencies.

Visit their Website

11) HYCM:

HYCM has the following features:

  1. Multiple crypto CFDs are offered.
  2. It is also highly trusted.

Visit their Website

What are the best Bitcoin brokers for Beginners in 2022?

Among the list of the best bitcoin brokers, Coinbase appears to be the best for beginners. This is because it has an extremely easy user interface and educational resources that will help beginners in the cause of learning.

In addition to that, coinbase has a variety of alt coins for beginners to trade.

Related Article: Top 8 Crypto Exchange with low fees.

What are the best Bitcoin brokers for mobile Trading?

eToro is a great all-in-one cryptocurrency apps that millions of Android crypto traders trust across the world. Buying and selling on eToro is simple, and you keep complete control of your assets. eToro’s most notable feature is its incredibly low transaction fees.

When you buy cryptocurrencies or deposit funds into your account, the site does not charge you a commission. Non-USD deposits, however, will incur a minor 0.5 percent currency conversion fee.

Although eToro is the best Bitcoin broker for mobile trading, it is not so for other stocks. For example, in forex trading, eToro is not the best and it does not appear among the top 10 best forex brokers. To learn more about this, check out our post on the Best Forex Brokers for Beginners.

How can I store my bitcoin safely?

As the price of Bitcoin and other cryptocurrencies has increased over recent years, there are records of new investors in the system, and these investors may not know how to keep their investments secure. Hackers are coming up with ingenious ways of stealing funds.

Here are some of the ways that you can store your bitcoin safely:

  1. Use of Hot Wallet.

Hot wallets are wallets that run on internet-based devices like mobile phones, personal computers, and tablets. Use of a hot wallet gives you easy access to your bitcoin or other cryptocurrency. When using hot wallet, it is advisable to use 2-step verification like Google authenticator to avoid hackers from accessing your account.

   2. Use of cold wallet.

Another type of wallet that is highly recommended for security purposes is the cold wallet. A cold wallet is a wallet that is not connected to the internet and therefore cannot be accessed by hackers.

Although cold wallet is a very secure way to storing your Bitcoin, it is somehow risky if users do not secure their private key well.

     3. Trade with trusted Brokers.

When choosing your broker, look for those that are regulated in your country and have available consumer compensation funds as protection against bankruptcy. Next, read full-length crypto reviews. Finally, compare your top choices side-by-side to decide on a winner.

    4. Back up your entire wallet early and always.

Creating a backup is necessary since it aids in the recovery of your wallet in the event that it is lost, erased, damaged, or stolen.

  5. Update your software Often to avoid hackers.

To protect your Bitcoin and other cryptocurrencies from scammers, it is very important to update the apps and software used for storing them. This is because most hackers take advantage of not-up-to-date apps to access your accounts.

Conclusion

There are a lot of factors to consider before choosing the best Bitcoin brokers. The one that I deem best may not be the one you prefer. As we provided the features of the different Bitcoin brokers, it is very important that you go through them and use those factors in determining your preference. Cheers

Disclaimer:

Everything in this article is based on information we found online, personal experience, and books we’ve read. Before making any major decisions, always conduct your own research. Any and all digital marketing decisions you make are solely your responsibility.

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