Cryptocurrencies have continuously increased in popularity in the last year.
Many people have made a considerable amount of money of it by buying a currency at a certain price and reselling it when the price of the currency increases. In the past year there was a consistent increase in the value of the cryptocurrencies making it a very popular investment. There are several tips one needs to learn before buying cryptocurrencies. In order to make a profit it’s best to pruchase them from a trading broker. The following are the reasons why.
It is faster and Easier
In order to purchase cryptocurrency you’ll need to open a coinbase account that could take up to 2 weeks. Verification of a bank account takes 4-7 days, and funding takes additional 4-7 days. However, this process takes just a few hours when dealing with an online trading brokers. With this trading option, you can join millions of people trading cryptocurrencies at the quickest time possible, thereby giving you an opportunity to make a profit as soon as possible. Since the price of cryptocurrencies can rise within days or even hours, using a platform that allows quick trading is the best and logical option.
It is possible to make profit when altcoin prices fall (Short Option)
The idea behind making a profit with cryptocurrencies is to buy when prices are low and sell when they increase.
Unlike exchange platforms, online trading brokers give you the opportunity of making a profit when there is a fall in the value of cryptocurrencies.
Altcoins are highly unstable
There is a certain window of opportunity that experienced traders look out for when trading major asset (such as Gold, USD or Bitcoin). They buy the asset when the value is low and sell when the price is high enough for a considerable profit. Since values of cryptocurrencies continuously change, there is an unlimited number of opportunities opened to traders to make a huge profit of them.
Access to all major altcoins
Almost all online trading brokers allow trading in major altcoins such as Ethereum, Ripple, Litecoin, Bitcoin, Dash, etc. You can easily trade in any cryptocurrency of your choice when using an online trading broker, an attribute not found in most exchange platforms.
Its more secure and regulated
You probably heard about currency exchanges that got hacked and all the coins were stolen. Their users lost all their money. In regulated brokers this is not possible since the platform is secure and meet very high standards of regulation.
Below you will find the top rated regulated brokers to trade cryptocurrencies:
|Rank||Broker||Special Offer||Min. Deposit||Spreads From||User Score||Max leverage||Regulation||Available Currences||Start Trading|
|1||2% management fee and 100% spread rebate||$200||2 pips||
|400:1||ASIC, CySEC, CFTC, FCA, MiFID||Bitcoin, Ripple, Ethereum, Litecoin, Dash, Bitcoin cash||Visit Site|
|300:1||CySEC, Financial Conduct Authority (FCA), ASIC||Bitcoin, Ethereum, Bitcoin cash, Ripple||Visit Site|
|3||up to 50%, up to $20,000||$100||1 pips||
|400:1||MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC||Bitcoin, Bitcoin cash, Etereum, Litecoin||Visit Site|