How To Invest In Bitcoin
Investing in BTC is similar to investing in stocks, except far more volatile because of the daily swings in BTC. Here are the steps to invest in stocks from the beginning:
- Open a brokerage account at a firm that allows crypto investments
- Deposit funds from your bank into the brokerage account.
- Buy a stock using deposited funds (cash balance).
- Later sell the stock for a gain or loss. Funds are returned to your cash balance.
The foremost concern when trading and purchasing Bitcoin, or other cryptocurrencies, is safety and security. Whether you intend to purchase and hold long term, want to trade frequently, are interested in anonymity or privacy, or simply want the ease of use, the following exchanges are the best for any use case you may have.
Best Bitcoin Trading Platform
- StockBrokers.com 2021 Review
- TradeStation - Best Trading Platform
- Coinbase - Best Crypto Exchange
- eToro - Low Fees
- Kraken - Maker-Taker Fee Schedule
- Bittrex - Most Altcoins
- Gemini - Offers Gemini Dollar
- Robinhood - Best Mobile App
- Binance -Best Cryptocurrency Exchange
Here's a breakdown of some of the best online brokers for US crypto trading.
TradeStation Best Trading Platform
As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades. TradeStation Crypto allows you to buy, sell, and trade bitcoin, litecoin, ethereum, bitcoin cash, and XRP. TradeStation Crypto caters to both institutional and recreational clients.
Coinbase Best Crypto Exchange
Founded in June of 2012, Coinbase is the largest U.S.-based cryptocurrency exchange, housing over 20 million users. Coinbase is best known for its easy-to-use website and crypto trading platform, Coinbase Pro. Coinbase supports 14 different cryptocurrencies for trading, including bitcoin, ethereum and litecoin, among others.
eToro logo Low Fees - Open Account
eToro is great for traders seeking zero-commission stock and ETF trades, an efficient platform, and access to copy trading. That said, there are hidden fees, education is sub-par, and eToro doesn't offer the same range of investments as traditional brokers. eToro's crypto offering includes 16 different coins. Although crypto fees are cheap, you can only withdraw your crypto assets with a dedicated eToro wallet.
Kraken Maker-Taker Fee Schedule
Kraken was founded in 2011 and offers trading on 18 different cryptocurrencies, including monero (XMR), ripple (XRP), and Dash (DSH). Kraken currently offers a web platform but does not have a mobile app.
bittrex Most Altcoins
Bittrex was founded in Seattle, Washington in 2014. Although Bittrex doesn’t provide a mobile or desktop platform, it still offers over 100 tradeable coins, including bitcoin, ethereum, and litecoin.
Gemini Offers Gemini Dollar
Founded in 2015 by the Winklevoss twins, Gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. Gemini lets users buy, store, and sell bitcoin, ethereum, litecoin, bitcoin cash, and zcash, as well as the self-named Gemini dollar.
Robinhood Best Mobile App
Robinhood Crypto allows users to trade bitcoin, ethereum, bitcoin cash, litecoin, dogecoin, ethereum classic, and Bitcoin SV. Ten additional coins can be added to a watch list. Robinhood Crypto is best-fitted for users who trade multiple classes of assets.
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