Bitcoin Brokers: Top 5 Cryptocurrency Brokers 2021

Are you looking for a reliable broker to invest in cryptocurrency? Below, we explore the top Bitcoin and cryptocurrency brokers for 2021 ranked by fees, platform, regulation and usability.
Author: Kane Pepi
Last Updated: 19 February 2021

If you want to buy Bitcoin with a debit card online, you will need to use a cryptocurrency or bitcoin broker. The process is super-easy, and merely requires 10 minutes of your time. Simply open your Bitcoin account with your chosen Bitcoin broker, deposit funds, and that’s it.

With that said, knowing which cryptocurrency broker to sign up with is no easy feat, as there are now hundreds to choose from. In this article, we explore the best five brokers to buy Bitcoin in 2021. We explain key metrics such as the broker’s regulatory status, supported payment methods, tradable coins, and minimum deposit.

Our recommended Bitcoin Broker for 2021

If you don’t have time to read through our top five picks, we would suggest opting for eToro. The regulated platform allows you to buy Bitcoin with PayPal and other methods, such as a debit/credit card, Paypal, Skrill, or a local bank transfer. Fees are also competitive, as the broker does not charge any trading commissions.

eToro : Best Bitcoin Broker for 2021

OUR RATING

  • CySEC, FCA and ASIC regulated
  • Paypal accepted
  • Buy 15+ coins outright or trade crypto CFDs
  • US-friendly
75% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

Top 5 Cryptocurrency Brokers 2021

So now that you know what to look out for when choosing a Bitcoin broker, you’ll be sure to find a platform that best meets your long-term investing goals. However, if you don’t have time to perform your own research, why not consider the merits of the recommended brokers listed below? Each broker meets our strict set of requirements, such as holding at least one tier-one regulatory license, low fees and commissions, high trading volumes, and heaps of everyday payment methods.

1. eToro - Best Overall Bitcoin Broker

Our top-rated Bitcoin broker is eToro. First and foremost, the platform is ideal if you're buying cryptocurrencies for the very first time. This is because the broker is easy to use, and it takes minutes to open an account. Moreover, the platform supports heaps of everyday payment methods - such as a debit card, credit card, bank transfer, Paypal, Skrill, and Neteller. If you check out our eToro review you'll see it is also strong in the fee department. For example, you won't need to pay any trading commissions, so it's just the spread that you need to look out for. You can also deposit funds for free, although withdrawals come at a small cost of $5 per transaction. On top of Bitcoin, eToro supports lots of other cryptocurrencies.

This covers both fiat-to-crypto (like BTC/USD) and crypto-to-crypto (like BTC/ETH) pairs. We also list eToro as our number one cryptocurrency broker because of its Copy Trading Feature.

This allows you to mirror the trades of other users, proportionate to the amount that you wish to invest. Most importantly, eToro is heavily regulated. This includes licenses with the FCA, ASIC, and CySEC. This ensures that your money is held in segregated bank accounts.

Regulation: ASIC, FCA, CySEC

Special Features: Copy Trading feature allows you to copy the trades of other investors

Demo Account: Yes

Educational Material: Lots of educational guides for newbie traders

Fees: No trading commissions, Average spreads

Minimum Deposit: $200

Volume: High trading volumes

Deposit and Withdrawal Conditions: Minimum withdrawal of $50

Payment Methods: Credit/debit card, Paypal, Sofort, Rapid transfer, Skrill, Wire transfer, Neteller, WebMoney, UnionPay

OUR RATING

  • Buy Bitcoin outright or trade BTC CFDs
  • Social and copy trading leader
  • Paypal accepted
  • Limited technical analysis tools
  • Not well-suited for the more advanced investor
75% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

2. Plus500 - Regulated Bitcoin Broker with 0% Commissions

If eToro doesn't quite take your fancy, then it might be worth considering Plus500. The UK-based broker does not accept US traders, so do bear this in mind. Nevertheless, Plus500 has an excellent reputation in the online brokerage space, and you can deposit funds with a debit/credit card, Paypal, or bank account.

Take note, the platform only supports cryptocurrencies in the form of CFDs, meaning you won't own the underlying cryptocurrencies. With that said, this allows you to buy and sell Bitcoin cheaply, quickly, and with leverage.

Regulation: ASIC, FCA, CySEC

Special Features: 2000+ financial instruments - including dozens of crypto pairs

Demo account: Yes

Educational Material: Doesn't offer much in the educational department

Fees: No trading commissions, Average spreads, free deposits and withdrawals

Minimum deposit: $100

Volume: Good trading volumes on its CFD and forex products

Deposit and Withdrawal Conditions: $100 if your balance exceeds this

Payment methods: Credit/debit card, Paypal, Bank transfer

  • Minimum deposit of $100
  • Over 2,000 trading instruments
  • Mobile app available
  • No education material
  • Not suitable for beginners
80.5% of retail investor accounts lose money when Bitcoin trading CFDs with this provider.

3. Libertex - High Leverage CFD Broker

Libertex is an online cryptocurrency broker that offers leverage of up to 600:1. Regulated by CySEC in Cyprus, the broker is also competitive in the fee department. When it comes to payments, you'll get to choose from an e-wallet, debit/credit card, or international bank transfer.

Regulation: CySEC

Special Features: 2000+ financial instruments - including dozens of crypto pairs

Demo account: Yes

Educational Material: Doesn't offer much in the educational department

Fees: No trading commissions, Average spreads, free deposits and withdrawals

Minimum deposit: $100

Volume: Good trading volumes on its CFD and forex products

Deposit and Withdrawal Conditions: $100 if your balance exceeds this

Payment methods: Credit/debit card, e-wallets, bank transfer, Giropay, Trustly

  • Leverage of upto 600:1
  • Supports MetaTrader 4
  • No minimum withdrawal is balance under $100
  • Very weak in the edcuational department

4. 24 Option - Cryptocurrency Broker With Super-Low Spreads

24Option is an additional cryptocurrency broker that is worth considering if you're looking to trade CFDs. This is because you will be able to apply leverage and short-term your chosen coin. Moreover, 24Option is regulated by CySEC, so your funds are safe at all times. Crucially, 24Options offers some of the lowest spreads in the space.

Regulation: CySEC

Special Features: Highly extensive list of cryptocurrencies supported

Demo account: Yes

Educational Material: Trading Central's research tool

Fees: Spreads from as low as 0.2 pips

Minimum deposit: $250

Volume: Popular with traders in Europe and Asia so high trading volumes

Deposit and Withdrawal Conditions: 3.5% fee on credit card withdrawals, 2% on Skrill

Payment methods: Credit/debit card, Bank transfer

  • Spreads from just 0.2 pips
  • Great forex research tools
  • MT4 supported
  • Minimum deposit of $250
  • Does not support Paypal
  • Only regulated by CySEC

5. AVATrade - Multiple Regulatory Licenses and Advanced Trading Platform

AVATrade is a highly trusted CFD, forex, and cryptocurrency broker. It holds licenses in Japan, Canada, Ireland, Canada, and South Africa, among others.AVATrade supports MT4 and MT4 platforms, and spreads are very competitive. Minimum deposits start at $100.

Regulation: Holds licenses in Ireland, Australia, Japan, South Africa, Canada, British Virgin Irelands

Special Features: Pricing alerts and notifications, MT4 and MT5

Demo account: Yes

Educational Material: No fundamental news or trading ideas, but trading calculator provided

Fees: Spreads start at 0.9 pips, no withdrawal fee, $50 monthly inactivity fee Minimum deposit: $100

Volume: Huge volume on its CFD products

Deposit and Withdrawal Conditions: No minimum withdrawal fees

Payment methods: Credit/debit card, Bank wire

  • Spreads from just 0.9 pips
  • Multiple licenses
  • Both MT4 and MT5 supported
  • No research features
  • Does not offer 2FA login

What to Look for in a Bitcoin Broker

With heaps of Bitcoin brokers now active in the online space, knowing which platform to sign up with can be challenging. No-two brokers are the same, so you need to think about what your priorities are. For example, are you looking for cryptocurrency exchanges that accepts e-wallets, or are you more concerned with low trading fees?

Either way, below we have listed the most important factors that you need to look out for prior to choosing a cryptocurrency broker.

  • Licensing

Did you know that the vast majority of Bitcoin and cryptocurrency brokers operate in an unregulated manner? While in most cases this shouldn’t be an issue per-say, we would suggest sticking with brokers that hold a license from a tier-one body. Think along the lines of the UK’s Financial Conduct Authority (FCA) or CySEC in Cyprus. ALl of the brokers listed on this page are regulated, so rest assured that your funds are safe.

  • Supported Cryptocurrencies

If you’re only looking to buy and sell Bitcoin, then you’ll have no problems locating a suitable broker. However, what happens if you want to buy Ethereum and invest in other cryptocurrencies like Ripple, or Bitcoin Cash? Crucially, you need to check the broker’s website prior to signing up to see what cryptocurrencies they allow you to buy and sell.  

  • Payment Methods

If you’re looking to buy cryptocurrencies for the very first time, you will need to use a broker that supports fiat currency. At a minimum, this typically includes support for a bank transfer. With that said, it’s far easier to use a debit/credit card or e-wallet, as you’ll be able to instantly buy Bitcoin with a credit card.

  • Trading Fees and Commissions

Bitcoin brokers are in the business of making money, so you’ll need to pay a fee when buying and selling cryptocurrencies online. In the vast majority of cases, this comes as a trading commission. For example, if you wanted to purchase $500 worth of Bitcoin and the broker charges 1.5%, you’ll end up paying a commission of $7.50. Stick with low fee brokers to reduce your trading costs.

  • Leverage and Short-Selling

If you’re planning to apply leverage to your cryptocurrency trades, then you’ll need to use a CFD broker. In doing so, you’ll also have the ability to short-sell Bitcoin. This means that you will make a Bitcoin profit if the price goes down.

  • Minimum Deposit and Withdrawal Fees

Some cryptocurrency brokers install a minimum deposit amount. You should check this before joining a new broker to ensure that it meets your budget. Similarly, you also need to check whether a withdrawal fee is charged. This is likely to be the case if you are planning to withdraw your profits back to a debit/credit card.

  • Trading Volumes

If you’re looking to buy and sell cryptocurrencies online, you’ll need to use a broker that is home to high levels of liquidity. This will ensure that you are able to trade at competitive market prices. If your chosen Bitcoin broker doesn’t have sufficient trading volumes, you might struggle to sell your coins.

  • Customer Support

You also need to explore what the cryptocurrency broker’s customer support team is like. For example, check to see what hours you can speak with an agent, as well as the types of support channels offered (live chat, telephone, etc.).

Note: If you’re simply looking to buy Bitcoin and store it long-term, you should choose a provider that allows you to withdraw coins out. In this sense, a CFD broker will not be suitable, as you won’t own the underlying asset.

Cryptocurrency Brokers – Final Thoughts?

Knowing which cryptocurrency broker to buy Bitcoin from can be challenging, not least because there are hundreds of platforms active in the space. With that said, we hope that you now have a firm grasp of the many factors that you need to look out for prior to parting with your cash. This includes factors like regulation, trading volumes, payment methods, fees, commissions, and supported coins.

If you don’t have time to research a broker on a DIY basis, we’ve also listed our top five Bitcoin brokers of 2021. At the forefront of is this eToro, as the broker is ideal of newbie traders, allows you to buy cryptocurrencies without paying any commissions, and heaps of everyday payment options are supported. Regardless of which broker you decide to sign up with, just make sure that you understand the risks of investing in cryptocurrencies.

eToro : Best Bitcoin Broker for 2021

OUR RATING

  • CySEC, FCA and ASIC regulated
  • Paypal accepted
  • Buy 15+ coins outright or trade crypto CFDs
  • US-friendly
75% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

FAQs

Are Bitcoin brokers safe?

This depends on whether or not your chosen Bitcoin broker is regulated. If it isn't, you should avoid it at all costs. Crucially, all of the cryptocurrency brokers listed on this page hold at least one license with the likes of the FCA, CySEC, or ASIC.

What payment methods do Bitcoin brokers support?

If you're using a cryptocurrency broker that supports fiat currency deposits, then this should include a bank transfer or debit/credit card. Some brokers even support popular e-wallets like Paypal, Skill, and Neteller.

Can I buy Bitcoin anonymously from a Bitcoin broker?

Irrespective of whether or not the cryptocurrency broker is regulated, if you're looking to use fiat currency to invest you will need to have your identity verified. As such, you'll need to upload a copy of your passport or driver's license.

What is the minimum deposit amount at cryptocurrency brokers?

This will vary from broker-to-broker. You can deposit just $100 with some of the Bitcoin brokers that have been recommended on this page.

Do cryptocurrency brokers allow you to apply leverage?

If you've got a higher appetite for risk and thus - you wish t apply leverage, you will need to use a CFD broker that supports cryptocurrencies. Certain limits will apply if you are a retail trader.

 

 

 

 

Remember, all trading carries risk. Past performance is no guarantee of future results.
Kane Pepi

Kane holds academic qualifications in the finance and financial investigation fields. With a passion for all-things finance, he currently writes for a number of publications in the online space.

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eToro: Buy Bitcoin

eToro: Buy Bitcoin

eToro: Buy Bitcoin

Visit eToro

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

eToro: Buy Bitcoin
Visit eToro

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

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