We have a comprehensive list of all the robots, online brokers that offer cryptocurrency trading. These include those that offer Ethereum, Litecoin and Bitcoin trading amongst others. Many traders over the years have been supporting bitcoin trading, but in the past few years, we’ve seen in a sort of explosion when it comes to brokers offering cryptocurrency options.

In reality, the price of these blockchain bounded assets vary a great deal and are far from being stable, yet they still attract many new businesses and investors. That said as a trader which cryptocurrency do you choose? We have put together an extensive list of the best brokers that offer cryptocurrency trading in the industry.

Plus, we’ve examined precisely which cryptocurrencies they support and the leverage they provide clients. All of this information will allow you to choose the best possible broker based on your trading needs. Trading robots and brokers, many of which have over two decades of experience in the industry when it comes to developing platforms as well as offering services.

Though cryptocurrency’s ecosystem is still in its infancy phase, they still offer many options. Traders who are used to trading based on chart movements or from a mobile device or use an EA robot the best thing to do is to use a broker.

Why use a broker for trading?

We are aware of the fact that there are many cryptocurrency investors who still trade directly with the exchanges. But when you can trade with the exchange directly then why use a broker who is for all intents and purposes is a middleman? Well, there are several reasons for using a broker perhaps the most prominent being user experience.

Many if not all cryptocurrency exchanges are not meant to be user-friendly for brokers. The exchanges have cumbersome interfaces and with little to no 3rd party platforms. Plus as a customer or trader, you get no support either.

How to shortlist the best Cryptocurrency Brokerage?

The online trading industry is highly competitive, and so there are countless brokers from which to choose. But with so many brokers you’re unable to know which broker is the best based on how much and when you want to trade. We cover a few key points that should help you choose the right broker below.

Broker Regulation

Every country in the world has its own financial or trading regulatory body. This regulatory body is responsible for drafting rules, programs, and services amongst other safety measures that are meant to protect market integrity, investors and traders in addition to the brokers. So, all brokers need to meet these regulatory stipulations. It is for this reason that we’ve always advised traders to open accounts with regulated brokers.

Customer Support

Traders are constantly buying and selling cryptocurrency 24 hours a day. Apparently, the customer service needs to be available at all times. As a trader, you’ll probably want to speak with a live support agent as opposed to waiting for an email back.

The best way to test their customer service is to call. If they pick up the phone quickly then their service is well staffed and efficient. The longer you need to wait the more frustrated it can be especially if you have questions regarding trade volume, spreads, and leverage, etc.

Types of Accounts

Ideally, your broker should be able to offer various types of account options and a bit of customizability. You’ll need to choose a broker who also offers competitive spreads in addition to quick and straightforward withdrawals/deposits.

Trading Currency Pairs

A good broker will be able to provide you with a wide choice of cryptocurrency pairs from which to choose. But the variety needs to be in pairs that are of interest to you. Even though there are dozens of currencies now available for trading, there are just a handful of those that will merit your attention since they boast of being the most liquid.

Choice of Platform

Investors use the trading platform as their gateway to the market. So, you’ll naturally want to choose a platform that’s simple to use and understand. Plus it should offer a selection of advanced and rudimentary analytical as well as technical tools. Traders will find that these features improve their trading experience.

Top Cryptocurrencies

In our opinion the most relevant and stable cryptocurrencies happen to be the following:

Bitcoin

This one is easy to choose and trust. It was the very first stable cryptocurrency to gain widespread recognition and has the highest cap in the market. The currency’s coins trade at a very high price as compared to competing currencies. The average price is around $1225USD a bitcoin and can rise to $7000 as it did in November 2017. However, despite the hefty sticker price, it is still the best choice for anyone who wants to enter the market.
It is the safest, most trusted and invested cryptocurrency.

Perhaps Bitcoin is the only reason why we have so many cryptocurrencies today. You could start with a CPU based mining company or begin with buying coins at their present prices. You can also buy a fraction of a coin if that’s what you can afford. Regardless, it’s one cryptocurrency that every expert will recommend investors buy.

Litecoin

It is the second most traded and trusted cryptocurrency. It happened to have the third highest cap back in 2017, and today it’s around the 7th. However, despite the recent decline in pricing, you can still take advantage of CPU mining. Almost everyone knows what Litecoin is because it shares many technological similarities with bitcoin but costs just 1/50th to 1/100th of the price. Bitcoin got a boost from the ’Slik Road’ controversy but Litecoin today is a lot like the currency (Bitcoin) before its controversy. Most people consider Litecoin to be Bitcoin that’s reasonably priced.

Ethereum

This happens to be ranked third and at times even second. Though it is not as popular as Litecoin the system has been built on a similar setup. Many or perhaps the majority of Initial Coin Offerings (ICO) happen to be Ethereum. Mainly because the pricing is less intimidating compared to Bitcoin and it also has the second highest cap in the market. As a matter of fact, the Ethereum used today is a spinoff of what was Ethereum classic (its predecessor).

BitcoinCash

Now this is one of the spinoffs of bitcoin which promises faster transactions and has been accepted by the Bitcoin community. While it is a bit early to tell the coin still has a very high market cap, and we think its shaping up to be a top contender. Though we advise that you keep an eye on this cryptocurrency but in no way do we assume that it will have the same potency as Bitcoin.

Dogecoin

The name is derived from the word ”Doge” which is an internet meme featuring a dog and its misspelling. It had the 7th highest cap back in June 2015. However, in 2017 it is still a contender in the industry. Even though an individual coin isn’t worth, a lot as the competition but the value and popularity have continued to remain a bit steady despite various highs and lows.

The company uses the very same blockchain technology as bitcoin with a few technical distinctions. Similar to the failed cryptocurrency called Coinye West, this one too is in the business for laughs or jokes though Coinye and Dogecoin have become very popular.

But you may be thinking why are we suggesting a cryptocurrency that’s considered a joke? Well primarily due to its popularity and today the only thing funny is the name and the backstory. It’s like Litecoin in many ways perhaps most in the sense of it being reasonably priced and having a lot of consumer confidence.

The comedic beginnings of the Dogecoin have become an excuse for the creators to turn it into a friendly and fun cryptocurrency which makes it stand out. Interestingly it is the only cryptocurrency that has a major .com domain to its name and has made attempts to reach audiences beyond just the tech community.

That said starting in September 2017, Dogecoin has been taking a beating at the market with a decline in their value. The argument that can be made that having roots as a joke may not have been a good long-term strategy. But most experts believe that cryptocurrencies are volatile and as such highs and lows are to be expected.

Namecoin

Back in 2015 Namecoin looked extremely promising as a cryptocurrency but now in 2017 the hype has lowered. Though Namecoin is still a notable mention here. The cryptocurrency is almost the same as Bitcoin. Namecoin was considered the first ”fork” or break away from the traditional Bitcoin setup.

This means that while it shares many similarities with bitcoin, a few tweaks have been made as to how data is being stored. Initially, this was just intended to be an upgrade to the regular Bitcoin. But that made investors nervous as they saw it posing an issue to the cryptocurrency.

At the end of the day, Namecoin is still just Bitcoin but not what Bitcoin is worth but with other technical differences that make it better. As an investor, you’d want to consider it since it offers a sold background with a good price point making it a worthy investment. That said of all the coins listed thus far in this article Namecoin has performed the worst. It still has a very low value in US dollars.

Darkcoin (Dash)

Darkcoin is called Dash after it was renamed in 2015. Dash is short for ’digital cash,’ previously it was called XCoin. In terms of functionality, it happens to be the most unique compared to all the other coins discussed here. Developed by Evan Duffield, he wanted to improve upon Bitcoin but didn’t have enough pull to make that happen, so he developed Darkcoin or Dash.

Dash requires a lot less power to mine compared to most other coins. Since it uses less energy to mine means that a lot of energy that’s otherwise consumed or wasted is used conserved. However, in most coin technologies the wasteful mining process is one of their keys to security and stability of the currency which uses a so-called ”proof of work” system.

It helps stop people from faster mining but is an environmental nightmare. The good news is that many people already know what Darkcoin is and are familiar with the rollover to Dash. In 2015, Dash had higher value, but as of today, it’s doing just as well as the competitors. So, apparently there are some who can be considered Dash millionaires.

Nxt

Now this cryptocurrency certainly sounds sporty and gives the impression that it has something to do with Steve Job’s company Next computers. But in reality, there is no relation except for the fact that it generates coins using a radically different algorithm. The algorithm is a physical implementation of what’s called a ’proof of stake’ scheme as opposed to a ’proof of work’ scheme.

It is said to be less stressful on the environment, and so has long-term viability as a functional currency. However, its worth slightly less than other cryptocurrencies. It can be purchased for pennies on the dollar when it’s trading high but because it’s cheaper per coin you also lose less if the value drops.

Nxt is much like Namecoin with great code, but that didn’t work at the levels that other cryptocurrencies were capable of, but it did see the price hike as of late. Though its still priced lower compared to other cryptocurrencies and the US dollar.

Peercoin

Similar to Nxt, it is abbreviated as PPC but not to be mistaken for pay per click! It is another ’proof of stake’ system working in the background and one of the first to use this system. One Peercloin is currently worth around .40 cents USD with a market cap set at around ten million.

We think that the coin is definitely headed in the right direction and has a lot going in its favor and so its a good bet for traders. Now if you doubt the quality or even the confidence that people have regarding this cryptocurrency then be rest assured that its backed by a development superstar by the name of Sunny King.

He is considered the same guy behind Bitcoin even though that’s never been confirmed. But its hard to nail down who created bitcoin owing to the fact that it relies on the peer-to-peer code. Though Sunny King is very important figure and the reason behind the coin actually having any value. That said its still a gamble nevertheless, the good news being that we and many others see this cryptocurrency doing well.

Various other Cryptocurrencies worth mentioning: Ripple, Rise, BitShares, NEM, NEO, Monero, etc. all of which have respectable values and market caps. We also discovered that some of these currencies might have better exchange values than the coins mentioned in detail above. It all depends on market trends. You will do well not to simply dismiss the forerunners mentioned.

The thing you always need to keep in mind is that the market keeps changing and cryptocurrencies are fairly liquid. So, you may even see altcoin or some new coin make it to the top at any time. By keeping a sharp eye on prices, you can make money pretty fast by trading cryptocurrencies.

Important note: The majority of exchanges and also the prevailing interest in Bitcoin, Ethereum and Litecoin means that you may not trade any other like these for actual cash. Most cryptocurrency exchanges allow traders to buy and sell coins.

The coins can also be used to purchase stuff online but converting it into a fiat currency which means converting it to a well-known coin. This means that just because a cryptocurrency has a particular dollar value associated with it, does not mean that there are people willing to buy it from you in exchange for USD.

It is like selling penny stocks, at least back in the old days or trading baseball cars for one to the other before selling it off for money. That’s where knowing and understanding the volatility of the market comes in and knowing your coins comes in handy.

History of Cryptocurrencies

Cryptocurrencies have been around for a while though they have not been mainstream until late. The first decentralized digital currency was called ”Bit Gold,” and was the brainchild of Nick Szabo. The currency was used between 1998 and 2005. It is considered the precursor to the bitcoin we know today.

Later in 2008, a guy name Satoshi Nakamoto, the real name of whom we don’t know drafted the paper on bitcoin and what it was. That was the very first mention of this cryptocurrency, and the rest, as they say, was history. In 2008 Bitcoin was credited with being the first fully decentralized digital currency or coin.

Later the currency went public back in 2009. Now fast forward to 2017, and Bitcoin is the most well-known currency, not to mention the most widely accepted. It has also helped spur interest in other cryptocurrencies like Litecoin and Ethereum.

Now given the overall popularity of Bitcoin and its history, the term ”altcoin” is used interchangeably to describe various alternative cryptocurrencies like bitcoin. Starting from January 2015, it was noted that there are over 500 different cryptocurrencies or as they are called altcoins available for trading online.

Though just ten of them really had any market capitalizations that were over $10 million. As of present day September 2017, there are now over 1,100 cryptocurrencies with the total market capitalization of all these cryptocurrencies combined to be well over $60 billion.

Even though the future of some cryptocurrencies seems to be uncertain but the fact is that these digital currencies are here to stay. In 2017 we are seeing cryptocurrencies becoming a huge part of the trading industry despite its various cons but notable pros. So, we think its here to stay and evolve for a very long time.