They are the Top Digital Currency Brokers

Cryptocurrency brokers are the experts, who offer their knowledge and services to users. These users may require help in selling or purchasing cryptocurrencies. Brokers create a platform for the transactions to go through smoothly and safely. They charge premiums for their financial services. Crypto brokers are also perfect if you would like to buy a small amount of Bitcoin, like buying, and selling occurs at the broker's set prices, which is often advantageous as explained by websites such as BitIQ.

Now, novices/beginners may feel happy to have support. However, it is important that they select the right kind of broker for assistance. Outlined below are the details of five extremely reliable cryptocurrency brokers.

Interactive Brokers

The commissions are amongst the lowest in the cryptocurrency marketplace. Therefore, an investor may have the satisfaction of trading in four digital currencies. The trading is direct. Among the four cryptocurrencies, Bitcoin and Ethereum hold top preferences.

The investor may even opt to purchase Ethereum and Bitcoin futures, discarding the thought of owning them directly. Bitcoin futures are available with the Chicago Mercantile Exchange. The cost of the contracts is $11.02. Every contract is worth five coins. Similarly, Ethereum contracts cost $9.02. Every contract is worth 50 coins.

Interactive Brokers has a complete suite of investment provisions too. Therefore, it becomes possible for the investor to purchase anything worth trading, on a cryptocurrency exchange. Above all, the investor may have $0 in the account. The commission is 0.12% - 0.18% of the trade value, while it is $10.02 for every futures contract.

Robinhood

Even here, the account holder may have $0 in the account, as the minimum balance. Commissions are also $0, indicating that Robinhood is a commission-free platform. However, the investor must pay a built-in spread markup in connection with any trade.

This broker permits the option of purchasing digital currencies directly. It is also possible to purchase stock and go in for ETF trades, all at inexpensive rates. All that the users must do becomes familiar with the slick app that is integral to Robinhood. However, no one can expect to have a full trading experience with all its features in place.

Binance U.S.

Binance seems to diversify into several things. One of them is adopting the role of a broker platform. In this case, the platform is a highly specialized one for trade.

Users may sell or buy different kinds of cryptocurrencies via this platform. The biggest favorites are Ethereum and Bitcoin. However, it is possible for users to deal with less favored, or much smaller coins, too. The total number of digital currencies available for trading/business deals is 60.

Regarding the commission structure, it is quite affordable. Binance charges 0.1% of the transaction value, and sometimes, even less. To illustrate, if the trader engages in deals worth $10,000, then, he/she must pay only $10 in the name of fees. Therefore, investors benefit by engaging in large trades, for the rates become cheaper. In fact, the rates begin to fall, in connection with the investor’s trading volumes covering the prior 30 days.

An account holder may have a $0 balance in his/her account; it does not matter.

Webull

The platform is a trustworthy one, although not too well-known. It is a user-friendly one, permitting the purchasing and selling of various cryptocurrencies. However, the account holder must display at least $1 in the account, to be able to trade in virtual currencies.

The broker does not charge any commission for engaging in crypto trades. These trades could relate to stocks or EFTs. However, Webull goes in for a spread markup, which is 100 basis points on either side of a trading deal. These points are equivalent to 1% of the price.

Webull is worthy of attention because it allows for trading in diverse cryptocurrencies. They include Ethereum, Cardano, Bitcoin, etc. Even the broker’s mobile app is easy to use and quite impressive. The platform also offers charting tools.

Trade Station

Account-holders are welcome to keep a $0 balance. However, a contract is necessary for engaging in futures margin trades.

The broker offers direct currency trading. The pricing is commission-based. It is 0.05% - 0.3% of the trade order. This percentage depends upon the user’s account balance with Trade Station. It also depends upon whether it is possible to directly market the trade order, or not.

Investors may purchase/sell Bitcoin futures. They may also use the substantial discounts connected to trade volumes, to their advantage.