Do you want to use a Bitcoin broker to improve your chances of earning more money through Bitcoin trades? Both cryptocurrency exchanges and crypto brokers are essentially online trading platforms. They are like the stock exchange but services are different. The crypto brokers are basically correspondents of the foreign exchange dealers in the crypto space. Their trading process is much like the airport currency exchange counter where the exchange takes place between the seller/ buyer and a broker.
Brokerages will let you buy the Bitcoin at a fixed value that the broker offers. While you do not own this coin yourself you own its value-change. For instance, if you buy the Bitcoin for $100 and the prices increase to $110, the extra $10 is yours to keep. Post-2017 many crypto brokers emerged on the scene like Swiss quote, eToro, XTB, Think Markets, FXOpen, etc. A Bitcoin brokerage is like a middleman for the purpose of buying and selling Bitcoins. The broker is essentially a company buying or selling Bitcoins at fixed prices. When you use bitcoin trading bots like immediate edge, everything is automated and they work with legit trading brokers.Â
Why should you use a Bitcoin broker?
- When there is market inefficiency, Bitcoin brokers can help you enjoy high profits. The broker will be able to offer trader complete visibility of price differences that are known as arbitrage trading.
- When you use a broker you can trade with more money than you actually have. CFDs have gained popularity in the trade because of high-leverage opportunities. On crypto broker sites you have the opportunity to earn substantial profits even through small price movements, whereas in cryptocurrency exchanges you will have to invest quite a bit to generate profits.
- Crypto brokers can help you trade in assets other than cryptocurrencies. You can trade in fiat currency pairs, big company shares, energy, and contracts for the precious metals.
- Many crypto exchanges will not permit fiat deposits but most crypto brokers will. Not only can you trade in multiple currencies on the platform but you can also enjoy additional features that make account management easy.
- Most crypto brokers also offer attractive features like advanced charting tools, analytical supports, etc that can protect you from huge losses. Their risk management tools and technologies are far more advanced than those used by crypto exchanges.
These are some of the reasons why using Bitcoin brokers can help you earn more profits. All you have to do to use them is to visit the broker website and view the rate at which Bitcoins are being sold. If you feel satisfied with this rate, you can create an account, decide how much money you want to invest, enter payment details, and proceed. Crypto exchanges are much harder to use because they display crypto price charts and keep updating the order lists. The learning curve can be quite steep; a broker platform, on the other hand, will do all the hard work for you because it offers a fixed rate. The commission or fees that they charge are included in the displayed prices. So, brokers are an easy solution for novice traders offering better protection against short-term fluctuations. Brokers also have helpful customer support services, multiple payment methods, and guarantee faster trades.