bitcoin, the most well-known cryptocurrency, hit the industry during the economic crisis of 2008-2009. Previously, controversies surrounded the cryptocurrency sector. many people were skeptical about digital currencies due to various factors such as security protocols or fear of losing crypto assets to hackers.
These concerns were prominent in 2009. However, the advancement of high technology, primarily blockchain technology, has fueled the growth of cryptocurrencies in both price and global status. bitcoin has risen in price in the past few months and is currently trading at $53,645 at the time of writing.
Reading: Best bitcoin trading platform uk
so, to trade bitcoin and other cryptocurrencies, you need reliable and regulated cryptocurrency trading platforms, and we’ve outlined the best ones below.
1. etoro
Fully regulated by the fca, etoro is one of the leading cryptocurrency trading platforms in the uk.
etoro offers 45 different cryptocurrencies to trade on its platform, allowing new customers to sign up and deposit with as little as £50.
etoro has over 13 million active customers, making it more popular than competitors like freetrade, revolut and trading212.
While the etoro platform does not charge a fixed fee for cryptocurrency purchases in the UK, users will incur a spread of approximately 1-2% depending on the cryptocurrency asset.
Finally, in addition to buying cryptocurrencies, users of the etoro trading platform can also invest in 800+ stocks, 100+ ETFs, commodities, and use the copytrade feature to copy other successful traders.
sign up to etoro now!
Disclaimer: Crypto assets are highly volatile and are not regulated in the UK. No consumer protection. income taxes may apply.
2. bitcoin profit
bitcoin profit is one of the cryptocurrency trading platforms that takes advantage of high technology such as artificial intelligence and machine learning. These advanced technologies have proven to be instrumental in charting and market analysis, giving the trader an edge in securing reliable trading deals.
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Although considered new to the cryptocurrency industry, bitcoin earnings is well known as a successful cryptocurrency trading platform. bitcoin profit has a robust algorithm that helps traders predict trends in cryptocurrency prices. therefore, the trader can follow the market very easily.
bitcoin profit has great features, which include;
payment system
bitcoin earnings have a payment system that is executed after the end of the live session. this means that profits are calculated quickly so that the trader can cash out or start another trade.
verification system
A verification system is a vital security protocol for any platform that helps block unauthorized users from accessing the trading platform. you need to provide some details like name or other user logins to confirm its authenticity.
greater profitability
Like any other investment, the crypto market has its own risks. Cryptocurrency prices are highly volatile, but several bitcoin profit traders claim to have a prosperous ride in the industry. others claim to frequently make substantial profits by trading various digital currencies when their prices fluctuate.
crypto pairs
bitcoin profit offers traders various crypto alternatives like btc/eth and btc/xrp. Also, you can trade crypto pairs like ltc/usd or btc/usd.
customer service
The underlying customer service is considered to be quite responsive and is available 24 hours a day. you can also contact the service team via live chat, facebook or email.
Anyone can join this platform as the registration process is easy and completely free. Also, the team behind bitcoin profit is helpful.
3. currency base
coinbase was initially launched as a digital wallet to allow users and merchants to make international payments and trade digital currencies. coinbase emerged in 2012, a few years after the start of the bitcoin code. Coinbase is a Francisco-based company that provides traders with essential tools for trading various digital currencies, including Bitcoin, Ethereum, and Ripple.
The wide acceptance of digital currencies has given the company a significant boost, pushing its market capitalization past the $10 billion mark. So far, the company has attracted large global investors like USV and DFJ, including a large user base.
coinbase is attributed to gdax, a trading platform that allows users to buy and sell digital currencies. gdax is a regulated and US-based platform that offers essential tools and amazing features that are easy to use.
4. kraken
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kraken is a US based company. It is considered one of the most prominent global platforms based on the high levels of liquidity, including the volume of USD. kraken allows investors to trade digital currencies using fiat currencies such as the euro, the yen or the pound sterling.
kraken has been in the industry for a couple of years now, thriving in the competitive cryptocurrency market as one of the best cryptocurrency trading platforms.
kraken has achieved a significant milestone, becoming the first crypto platform on the bloomberg terminal in terms of published price and overall trading volume. Furthermore, its user-friendly features have attracted a wide range of users around the world.
When it comes to cryptocurrency trading, kraken offers its users essential investment tools to buy and sell digital currencies. any beginner will find these tools convenient because they provide useful information about the market.
how to start trading for beginners
Many market analysts have always emphasized employing the correct trading strategies. one is because the profit and loss cycle has seen a number of traders make huge profits while others were kicked out of the markets penniless.
hence, conducting a thorough industry research is one of the best moves. Another factor to consider is identifying the trusted and regulated platform for your course. the right platform will offer the best investment tools to buy and sell different cryptocurrencies.
After establishing yourself on the trading platform, you need to follow these simple steps.
sign up
this is the first step and totally free. visit the official site of your preferred platform and fill out the application form. will provide minimal information, such as name, email address, contact number and password. your account is activated in a couple of seconds after clicking the verification link.
Upon registration, the system will automatically match the beginner with a regulated broker. the broker works closely with the trading platform and helps to execute trading transactions.
deposit
The beginner has to make a capital investment through the underlying broker to start live trading. The starting amount is affordable based on the expected returns a trader can generate on a regular basis. you can make the deposit amount through several payment methods, such as paypal, visa and mastercard, which is quickly processed in your account.
live trading
You can start live trading immediately after the amount is reflected in your account. many traders have claimed to make profits by employing tactics such as stop losses and using the bitcoin profit platform to buy and sell cryptocurrencies when their prices fluctuate.
final thought
The crypto industry started amidst controversies. however, the industry has been transformed into an alternative financial market that has thrived under the pandemic cloud. Furthermore, many cryptocurrencies have gained price momentum and traders are taking advantage of their fluctuating prices to generate income streams.
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