Bitcoin trading allows you to speculate on whether the price of the world’s most popular cryptocurrency will increase or decrease over a set period of time.
Bitcoin is renowned for its extreme volatility, and the various bull runs and bearish cycles create ripe conditions for traders. This guide will help you identify the best Bitcoin trading sites, focusing on criteria such as fees, user experience, security, customer support and versatility.
This comparison is perfect for anyone hoping to make a profit by predicting how well Bitcoin will perform in the months and years ahead. You may have read about the prolonged bull cycle that Bitcoin enjoyed in 2020 and 2021 and decided that it is time for you to get involved. If you missed the opportunity to buy Bitcoin at the bottom, Bitcoin trading can help you earn the sort of profits you have read about in the news.
However, the volatile nature of Bitcoin means that it is a risky business, so it is important to arm yourself with all the necessary information. It is also vital to find a trustworthy, reputable Bitcoin trading site that offers low spreads, attractive fees, a high-quality user experience, strong support, high liquidity and useful analytical tools, as that can make the difference between a profit and a loss.
Newcomers to Bitcoin trading will benefit from this comparison, as it helps them understand what constitutes a good place to buy Bitcoin and trade futures. It also helps you find the sites that best suit your needs. Yet it is also helpful for experienced traders and everyone in between, as this market moves quickly and you may enjoy a better level of service and more attractive trading terms by switching to a different Bitcoin trading site.
You should look for these key points when comparing the relative strengths and weaknesses of each Bitcoin trading site:
Bitcoin trading is the pursuit of profit through speculation, and high fees can erode or wipe out any profits you might make. If you plan to buy Bitcoin, hold it for a period of time and then sell it for a profit, check the price incurred when buying and selling it at an exchange.
If you want to transfer it to an external crypto wallet for security reasons in the interim, check the withdrawal fees. If you are going long or short on Bitcoin over a period of time via a CFD, check the spread and look for the lowest, tightest possible.
Many Bitcoin trading sites are lumbered with a clunky interface, making the user journey difficult and time-consuming. The best Bitcoin trading sites follow an uncluttered, elegant design, they are easy to navigate and they make the trading process simple.
This saves you time and makes Bitcoin trading much more pleasurable. You should also benefit from charting tools, useful analysis and educational materials, plus rapid and effective customer service via multiple channels.
Security should be a primary concern for anyone planning to hold crypto for a period of time. It is less of a concern for anyone trading CFDs, but you should always look for SSL encryption software and two-factor authentication. Several crypto exchanges have been hacked in the past, costing users the equivalent of millions of dollars in Bitcoin.
Many traders were burned by the Mt. Gox calamity, and accounts at major exchanges have been hacked since then. You should stick to sites that have a solid recent security record and offer strong protocols to deter hackers, while always remain vigilant to Bitcoin trading scams when you buy crypto online.
Regulation is sporadic and unreliable in the crypto sector, so you really have to stick to the Bitcoin trading sites that have shown themselves to be reliable, trustworthy and fair over a considerable period of time. Essentially, you have to delve into the reputation of a site by reading
Bitcoin trading reviews from experts and from users. Stick to the sites that have a demonstrable record of treating customers fairly and paying out on time, and avoid new sites offering deals that seem too good to be true.
Agility and versatility are important traits for a crypto trading exchange. You may be primarily interested in Bitcoin trading, but it is helpful to be able to conduct Bitcoin Cash trading, Ethereum trading and XRP trading too.
You might mainly buy Bitcoin, but you might decide you want to buy Litecoin or another altcoin one day, so you should look for sites that offer a broad range of cryptocurrencies, either to buy and sell or as CFDs. The best Bitcoin trading sites will also be diverse enough to offer trading in many other instruments, or to offer margin trading, futures, staking, lending and mining.
Binance makes an excellent choice for anyone interested in Bitcoin trading. You can buy Bitcoin and sell it for reasonable fees. If you buy Binance Coin and hold it, you will receive a discount in trading fees. Binance also offers futures trading, margin trading and staking on Bitcoin, while you can also lend it if you so desire. There are even Bitcoin mining pools that you can join.
Binance was launched in 2017 and it quickly established itself as the world’s largest crypto exchange. It has since expanded its offering, creating two native blockchains, a Launchpad section for token launches, a research arm, an incubator fund and much more, but the exchange remains the core of the business. It handles an average daily volume of 2 billion at more than 1.4 million transactions per second, and pledges to provide 24/7 customer support.
The trading fees are pretty reasonable at Binance compared to rival places to buy crypto currency online. It offers advanced charting, and it covers a huge range of altcoins. Binance is also renowned for adding new cryptocurrencies swiftly after an ICO. Some sites only allow you to buy Bitcoin, buy Litecoin and a few others, but you can buy, sell, hold, exchange and trade hundreds of coins at Binance.
The site is not quite as friendly for beginners as Coinbase, but you soon get the hang of it, and it also has a wide range of banking options, plus a strong recent security record and an excellent reputation for trustworthiness among its customers. Its popularity means it has high liquidity, and low slippage.
Our expert reviewers have spent years trading Bitcoin and they have a strong understanding of what constitutes a good crypto trading platform. They register with all the different sites that allow you to buy Bitcoin in New Zealand, and evaluate the speed, safety and efficiency of the sign-up procedure. They then start buying, selling, trading and exchanging Bitcoin.
Our reviewers monitor the speed of the transactions, the slippage and the trading costs incurred. They are looking for the Bitcoin trading sites that offer customers the best deals, while still ticking most of the other boxes required of a good exchange. The reviewers will assess how impressive the charting and analytical functions are, the quality of the software underpinning the site, the ease of navigation, the effectiveness of the shortcuts and so on, in order to rate the user experience.
They interact with customer service representatives to check how quickly the responses arrive, and how helpful and knowledgeable the representatives are. They make NZD withdrawals to test the speed and security available.
The reviewers also dig deep into the company to evaluate the reputation it has among customers, the transparency of the ownership, the security record and measures on offer, and the talent within the development team. They look out for any interesting bonuses or promotions on offer too, and make a note of the range of cryptocurrencies that can be traded, the liquidity and the average slippage.
Once all this information has been assembled, we can weigh up the relative strengths and weaknesses of each Bitcoin trading site and highlight the very best operators in this space. We return to these sites periodically to check that they continue to improve in line with technological developments in the industry, and we highlight any newcomers that are worth checking out. We also provide reviews on the best crypto casino providers out there, for those who enjoy a spot of gambling every now and then.
You can find the best Bitcoin trading site for your needs by working out the level of trading you plan to conduct, the level of support you require and the level of versatility you need. If you do not want to hold Bitcoin or set up a digital wallet, FP Markets is a very good option. It allows you to trade Bitcoin and four of the leading altcoins on leverage, with low spreads, and it is easy to use.
If you want to buy, hold and sell Bitcoin, and you are new to the world of crypto investing, you might like Coinbase. It is user friendly and takes all the hassle out of buying Bitcoin. If you want to trade lots of altcoins alongside Bitcoin, while benefiting from lower fees and more advanced charting, check out Binance. Kraken could be a good option for high value Bitcoin trading. Work out your trading style and your priorities, and then pick the site that best suits your needs from our list of reputable Bitcoin trading sites.
You can follow these simple steps to sign up at a Bitcoin trading site like Binance:
Bitcoin has enjoyed a remarkable growth curve since it was launched in 2009. It was initially trading at less than a cent and it rose to a peak of US$0.39 in 2010. By early 2021, a single Bitcoin was worth more than US$40,000, allowing several early investors to earn a fortune.
There have been prolonged bull runs and bearish cycles during that time – Bitcoin’s price notably fell off a cliff in early 2018 and did not recover until late 2020 – but the broad trajectory has been upwards. There is every reason to think that trend will continue.
In January 2021, JP Morgan said the price could rise to US$146,000 eventually, while others are even more bullish long-term. There are sure to be severe fluctuations in the months and years ahead, as Bitcoin is a very volatile asset, but many people buy Bitcoin and HODL (hold on for dear life) as they are convinced it will shoot up in value. More and more institutional investors are backing it, and the number of use cases continues to spiral, while many see it as an alternative inflation hedge to gold during times of quantitative easing.
No other cryptocurrency has managed to come close to rivalling Bitcoin thus far. However, it is certainly advisable to diversify and invest in altcoins too. Ether, Bitcoin Cash and Cardano are some of the interesting altcoins you can check out.
The best Bitcoin trading sites offer a high-quality user experience, excellent support and attractive trading terms. They have a strong security record, an impeccable reputation for trustworthiness and a commitment to innovation and variety.
There are a number of scam Bitcoin trading sites vying for your attention, so make sure you avoid them and stick to the reputable operators listed on this page. Return on a regular basis to find exciting newcomers to this space, or to check if an alternative Bitcoin trading site will offer you a better deal.
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