Looking for the top places to buy crypto in 2020? Read on to find out which three platforms offer you the best.
2019 was tough for crypto. However, despite a largely bearish year, cryptocurrencies still attracted a lot of attention and Bitcoin ended the year as one of the top investment assets for the year. Blockchain and cryptocurrency’s overall attractiveness and claim over legacy systems multiplied last year, gaining massive institutional support. Big projects like Libra and GRAM are in the pipeline, while the stablecoin sector has seen an entry of big-money players.
Massive volatility might have seen altcoins fare a little worse, but 2020 has begun on a more positive note. As such, crypto industry experts and analysts all agree that 2020 could be a special year for blockchain and cryptocurrencies.
Brokers or exchanges: which one for buying crypto in 2020?
When looking to buy cryptocurrencies, users often have to choose one or the other of a brokerage firm or crypto exchange platform.
But how do we gain the most from our crypto buying or trading experience? One of the key approaches is to leverage the services of the best crypto brokers and exchanges.
Before we look at the top 3 best places to buy cryptocurrencies in 2020, here is a little run-through of what you may want to know about brokers and exchanges.
Exchanges are online trading platforms that allow users to invest in cryptocurrencies, including intrinsic platform operations. For instance, Ether holders can use their coins to access and participate in the decentralized Ethereum ecosystem. Although much more advantageous for ease of use and overall crypto adoption, exchanges are quite limited in terms of investment opportunities.
It is such limitations that make broker platforms so ideal for investors. Brokerages, generally regulated, are investment platforms that provide buying and trading of crypto. But more than that, they offer a wide range of investment instruments that users exploit.
Crypto futures and CFDs
For cryptocurrencies, investors can choose both or either of two financial derivatives: futures contracts or contract for difference (CFDs).
Derivatives allow investors to exploit investment tools and opportunities provided by price movements of an underlying (cryptocurrency) asset. Investors can take short positions (win when prices drop) or long positions (win with an uptick in prices). Using a broker platform also offers advanced tools like leverage and trailing stop loss among others, with investors exposed to a whole range of opportunities to benefit from crypto’s inherent volatility.
The top 3 brokers you can use to buy and invest in cryptocurrencies in 2020.
eToro is a popular trading and brokerage firm, a market leader in the financial investment world. The company has over the years proved to be a top provider in digital currency investments. You can buy Bitcoin as well as other cryptocurrencies on the platform via its financial derivatives. Besides, eToro Wallet provides for the secure storage of digital currencies. An in-built tool allows users to easily (and near-instantly) convert their holdings into real cryptocurrencies.
It is a versatility not replicated on other platforms, except for Bakkt that has initiated similar approaches. eToro’s has an extensive portfolio of cryptocurrencies that keeps growing as the broker adds new coins. Currently, the platform offers access to more than 16 cryptocurrencies.
Users can trade these coins against the US dollar, although many other trading pairs are available. These options include crypto against top fiat currencies, other cryptocurrencies, and gold.
eToro is also looking to support Telegram (Gram) and Facebook’s Libra- two of crypto’s new big bets. Potentially, the two coins could hit the market in 2020, a highly-anticipated move.
The platform’s not just safe but also easy to use. Its social trading approach makes it easy for those less experienced with crypto, with the option to copy trading skills from an expert’s specialized ‘Cryptoportfolio‘.
It’s a new year, and investors no doubt have new resolutions about their trading. And in that vein, we add a brand new place to buy digital currencies in 2020.
Why StormGain? The platform launched its operations in 2019 and already has a global appeal with services in over 150 countries.
If you have traded cryptocurrencies before, you sure know about how volatile the market is and that investing is risky. Yet, what would you do if you were to take even more risk? That’s when advanced trading options like leverage come into play.
Brokers are a great bet for leverage. But for most of them, 2X is the maximum leverage on offer f crypto. What about StormGain? It’s about being fearless… only that the platform takes it a bit too seriously: on offer is a mammoth multiplier of up to 150X.
Let’s put this into perspective.
If an investor puts in $10, the maximum exposure in terms of gains takes that to $1,500. A$1 winning investment gives you a 150% gain. The same however applies to losses. For instance, if you invest in a financial asset and it loses 0.6 %, then you lose 100 % of your investment. At this point, your position gets liquidated.
StormGain only works with cryptocurrency pairs, although investors have the option of leveraging several trading tools. To the platform’s credit, users have access to 24/7 customer support.
If you are just beginning with crypto and wish to buy some, use StormGain to buy base cryptocurrencies via Simplex. The platform allows you to buy crypto using debit/credit cards. One more reason to love StormGain is its offer of trading via their Android/iOS apps.
Use futures contracts to trade any of the following pairs at near-zero commissions:
- Buy Bitcoin (BTC) – BTC/USDT
- Buy Ethereum (ETH) – ETH/BTC and ETH/USDT
- Litecoin (LTC) – LTC/BTC and LTC/USDT
- Ripple (XRP) – XRP/USDT
- Bitcoin Cash (BCH) – BCH/USDT
iTrader is yet another top broker for buying crypto in 2020. The recently introduced platform is regulated by the Cyprus Securities and Exchange Commission, aka CySEC (license number 198/13). It is this regulation that makes iTrader one of our top additions for places to buy coins.
Working under a regulated framework is important as that helps to keep investor’s money safe. What’s great is that this broker is set for further expansion in 2020, with users accessing a host of unique trading tools.
We are keen on crypto, but that isn’t all. Our advice is that it pays to have exposure in trading several markets other than crypto. Take up currencies, stocks, and commodities among other investment assets. That’s what iTrader gives you.
iTrader currently offers 8 crypto coins:
- Bitcoin (BTC)
- Buy Ripple (XRP)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Buy Litecoin (LTC)
- Dash (DASH)
- Buy IOTA (MIOTA)
- Monero (XMR)
Get ahead with access to a Daily Review that presents a technical analysis of all the hot trading pairs. This tool allows you to gauge your understanding of crypto trading, including testing your ideas.
Well, these are the three top places to buy crypto in 2020.