Many platforms and applications for bitcoin trading court investors, but not all providers can really be recommended in terms of security, cost and convenience. Investors should pay attention to this when trading Bitcoin.
After Bitcoin set a new all-time high in November 2021, the price has fallen over 50% since then. With a current value (as of May 31, 2022) of around 31,500 US dollars (equivalent to around 29,500 euros), Bitcoin has reached the level it was a year ago. Bitcoin’s popularity remains unbroken, it is still by far the number one coin among cryptocurrencies. 14 years after the first bitcoin was mined, there are now many platforms and applications for bitcoin trading. Some platforms cater to beginners, while others cater to more advanced traders who need versatile features and customization options. In this article, you can read what you should look for as an investor when choosing your platform for Bitcoin trading.
What trading platforms are there?
Well-known bitcoin exchanges that have been found (very) good in many tests are:
- Fair trade
- commercial republic
Bitcoin trading app: which ones are there?
Users who want to be informed of cryptocurrency developments anytime and anywhere should take a closer look at a Bitcoin trading app. Many investors have long used smartphone apps to trade stocks. Because most people almost always have their smartphone with them, traders can react quickly to market changes.
Bitcoin trading platforms also use smartphone apps to complement the web-based platform. For example, the eToro trading platform also offers its users a Bitcoin trading app, which can be found in the Apple or Google app store, just like Binance, Bitpanda, Bitcoin.de or Coinbase. An interesting feature of many bitcoin trading apps is the price alert, which keeps users informed of price movements.
If you want to have everything at a glance and want to not only trade cryptocurrencies, but also stocks and other securities via a trading app, the Justtrade trading app is an interesting alternative, all like the Trade Republic app. You can read more about the providers in the comparison of trading apps. eToro also allows stock trading through its app.
Alternative to Direct Bitcoin Trading: Bitcoin CFDs
You do not buy bitcoin through so-called CFD brokers, but rather derivatives with which you can benefit from price gains in bitcoin (or lose money in the event of a price drop). This form of investing is similar to classic securities trading, but is very dynamic and therefore reserved for investors who can and want to trade quickly and daily. Attention: Due to the leverage factor of CFDs, significant losses can occur if the price moves negatively – but on the other hand, significant profits can also be made. Real trading – i.e. buying Bitcoin – is better suited to longer-term investing than CFD trading. Whichever route you choose: Bitcoin trading, like any investment, always involves risks as well as opportunities, of which you should be aware.
What are bitcoin stocks?
Who does not put his money directly because of the high risk. If you don’t want to invest your money directly in crypto mining bitcoin but still want to bet on the cryptocurrency megatrend can invest in bitcoin stocks instead. These are stocks of companies that directly or indirectly benefit from rising Bitcoin prices – such as crypto brokers or companies that sell hardware to make it available or own interesting blockchain patents.
Published on 06/09/22 18:23