28 rows · Jan 02, · Bitcoin is the world’s oldest and biggest digital currency by market cap. . Dec 09, · CoinJar is hands down the best exchange in the UK for beginners. The user interface is simple to use and their support team is excellent. CoinJar has become one of the most popular exchanges in the UK for good reason, it provides an excellent platform that is easy to use with some of the lowest fees in the industry.5/5(15). 11 rows · Dec 08, · Here is our list of the best 10 cryptocurrency exchanges to buy, trade and 5/5.
Best platform to trade bitcoin ukTop 10 Bitcoin Trading Brokers - Best UK Bitcoin Trade Platform | GMG
In fact, the vast majority of hedge funds and financial institutions utilize advanced robots to buy and sell assets on their behalf.
After all, automated robots have the capacity to perform at a significantly faster rate than the human brain. Fortunately, these automated Bitcoin trading robots are not reserved just for large institutions. On the contrary, there are thousands of robot providers active in the space — some good, some bad, and some very ugly. As such, you need to perform lots of research on the robot provider before signing up.
Nevertheless, in order to make use of a Bitcoin trading robot, you will need to use an online broker that compatible with MT4.
This is a third-party trading platform that sits between you and your chosen Bitcoin trading platform. Once you follow the above instructions, the automated Bitcoin trading robot will begin placing buy and sell for you.
While Bitcoin robots do all of the bidding for you — some investors in the UK find the phenomenon somewhat uncomfortable. This is because you will be allowing software to use your hard-earned trading capital.
Put simply, signals are trading suggestions sent out by a third-party. In most cases, this will be an experienced human trader that spots a profit-making opportunity. Then, the trader will tell you what orders to place to capitalize on their findings. This will usually come via Telegram, email, or SMS. As you can see from the above, the best Bitcoin trading signals will provide you with all the required orders need to not only access the trade — but to do so in a risk-averse manner.
The underlying concept of automated Bitcoin robots and signals are great. After all, you can sit back and make money without needing to do any of the legwork. However, there are thousands upon thousands of providers active in this space — most of which are scams. But, rarely do these guarantees come to fruition. As such, if you like the sound of automated Bitcoin trading but want to ensure that you avoid unsavory scam-artists, we would suggest checking out what eToro has to offer.
Regarding the former, this allows you to select an experienced Bitcoin trader that has a long-standing track record of making monthly gains at eToro. Then, your personal eToro portfolio will be mirror your chosen Copy Trader like-for-like. As per the above, you made a profit without needing to lift a finger. Best of all, you can rest assured that you are automating your Bitcoin trading endeavors in a safe and secure environment — as eToro is FCA-regulated!
This works in a similar way to the former, albeit, these are professionally managed portfolio investments. In other words, eToro will determine which assets to add to the CopyPortfolio, when to buy and sell, and when to rebalance. In particular, eToro offers a CopyPortoflio that focuses exclusively on cryptocurrencies. This is as close to a traditional index fund as you will get in the Bitcoin trading space — as the portfolio is weighted based on factors like market capitalization, coin value, and recent performance.
Margin trading — otherwise referred to as leverage, allows you to trade with more money than you have in your account. Although the UK has technically left the EU, these rules still remain in place. This means that the most you can apply is major forex pairs , with other assets coming with lower limits. In order to access these markets, you need to use a CFD broker.
With that in mind, the only way that you will be able to engage with Bitcoin margin trading is to use an unregulated, offshore broker that offers crypto derivatives. It will come as no surprise to hear that we strongly suggest avoiding such platforms, as your capital is at risk.
After all, if the broker collapses — it will likely take your funds with it. There are many benefits — as well as risks, of using Bitcoin trading platforms to buy and sell crypto assets. The obvious starting point here is that Bitcoin — albeit, 12 years old, is still a new and exciting technology that is still well in its infancy. The underlying technology — the blockchain, can do things that we have never seen before.
In addition to the above, Bitcoin is decentralized. All in all, the above characteristics mean that by trading Bitcoin, you can enter the crypto market at a very early stage.
This is no different from investing in top-rated internet stocks like Amazon back in the s. But of course, there is no guarantee that you will make money by trading Bitcoin, so do bear this in mind. As we briefly covered earlier, the best UK Bitcoin trading platforms offer heaps of markets. This covers both crypto-to-fiat and crypto-cross pairs. This ensures that you can take full advantage of short-term price movements.
For example, you might think that Bitcoin is undervalued against the British pound — and place a trade accordingly.
On another occasion, you might think that Bitcoin is underpriced against Ethereum. Whatever your prediction, Bitcoin trading platforms offer heaps of pairs and markets that you can access at the click of a button.
When you trade traditional assets like stocks and shares, you can only do so during standard market hours. As such, anything trades outside these hours must wait until the market reopens. However, Bitcoin trading platforms in the UK operate 24 hours per day, 7 days per week. Sure, you might not have a requirement to buy and sell Bitcoin during the early hours of Sunday morning. But, knowing that the markets never close is a handy safeguard to have.
After all, you might want to cash out your position instantly and not want to wait until Monday morning to be able to do so. Back in the early days of Bitcoin trading, volume was minute. This went from a few hundred dollars a day, to thousands, and eventually millions. However, fast forward to , and Bitcoin trading platforms collectively see billions of pounds worth of activity each and every day. The best Bitcoin trading platforms in the UK allow you to get started with ease.
Best of all, you can trade Bitcoin with small amounts. This ensures that you can trade Bitcoin online without needing to risk large amounts of money. This means that you can speculate on the price of Bitcoin rising, as well as falling. However, there is a slight caveat to this benefit. This was the go-to avenue to short-sell cryptocurrencies like Bitcoin.
The good news is that you can still short-sell Bitcoin if this is something you want to achieve. This means that you will be trading Bitcoin against Tether — which is pegged to the US dollar. It goes without saying that any asset class can lose you money when trading it online. This is no different from trading Bitcoin. As such, you need to understand the financial risks involved. As we cover shortly, you can mitigate these risks by deploying a sensible risk management strategy.
Bitcoin is a new and often volatile digital currency — meaning that you stand the chance of losing more than you had hoped. This is much more likely to happen than a blue-chip stock — so do bear this in mind. When you trade established, stable stocks — you will find that the spreads on offer are super competitive. However, as Bitcoin trading platforms experience high levels of volatility throughout the day, this often results in wider spreads. For those unaware, this is the difference between the buy and sell price of Bitcoin.
The wider the spread, the more you indirectly pay in fees. For example, at eToro, while the spreads on major stocks average 0. Depending on which Bitcoin trading platform you sign up with, you might need to have an understanding of how crypto wallets work. This is because cryptocurrencies like Bitcoin are stored in a digital wallet on your desktop or mobile device.
This means that you need to have an understanding of private keys, public addresses, and backup phrases. This is because eToro will safeguard your digital coins in their own wallet.
Trading Bitcoin and expecting to make a profit from day one is wishful thinking. After all, you need to understand what drives the price of Bitcoin and thus — how to capitalize from this. To help you along the way, below we have listed some of the most utilized Bitcoin trading strategies. This entails buying Bitcoin and then holding on to the investment long-term.
This might be for several months or even years. The reason that this strategy is useful for newbies is that you do not need to worry about short-term volatility. This is a short-term approach to Bitcoin trading, as you will be looking to stay with wider trends. For example, if Bitcoin is on a prolonged downward trend, then you will want to short-sell the digital currency. Skilled swing traders will look to keep this sell position open for as long as the Bitcoin trend is bearish.
When it appears the trend is coming to an end, the swing trader will exit the position. Then, if and when a new upward trend kicks in, the swing trader will once again capitalize. Only this time, with a buy order. Day trading is the process of buying and selling Bitcoin pairs throughout the day. In fact, as most positions remain open for just minutes or hours, rarely do day trading keep an order open overnight. As you can imagine, keeping hold of a position for such a small amount of time will result in minute profit margins.
However, it is important to remember that day traders will usually place heaps of trades every day — so these small profits can quickly add up. Take note, day traders rely almost exclusively on technical indicators. As such, if you like the sound of day trading Bitcoin, you will need to understand how to read charts and perform in-depth analysis.
Bitcoin and the wider cryptocurrency scene has been the victim of several wide-scale scams in the past. This includes Ponzi Schemes, bogus funding raising projects, and exchange hacks. Plus, Bitcoin is often the preferred currency for criminals — due to its anonymous characteristics. With that being said, Bitcoin trading can be safe if you follow a crucial rule — only use regulated platforms. This means that the platform is required to keep your funds in segregated bank accounts, ID all account holders, and have its books regularly audited.
As such, by using regulated Bitcoin trading platforms in the UK, you can ensure that you are able to buy and sell cryptocurrencies safely. Irrespective of which of the above Bitcoin trading strategies you decide to deploy, it is crucial that you have a risk management plan in place. As the name suggests, this will ensure that you are able to trade Bitcoin in a risk-averse manner.
In its most basic form, you can achieve this goal by ensuring that you always set up stop-loss and take-profit orders on each trade. If so, we are now going to walk you through the process of getting set up with eToro. You will need to create an account by entering some personal information. This includes the basics — such as your name, home address, and date of birth.
You will also need to create a username and password. However, as this needs to be done before you are able to make a withdrawal out of your eToro account, we would suggest doing it now. In doing so, eToro should be able to verify your account instantly!
Bank transfers are supported but this can take several days to process. This will display each and every Bitcoin trading market available to you. However, as we noted earlier, newbies should probably stick with a traditional buy and sell strategy.
This is where you will need to set up an order. If, however, you are looking to swing or day trade Bitcoin, you should also set up a stop-loss and take-profit order. This will mitigate your risks in the event of short-term volatility. There are hundreds of Bitcoin trading platforms in the UK, so knowing which provider to trade with can be a time-consuming process.
After all, you need to check that the platform is regulated, that it offers your preferred payment method, and that it allows you to trade in a cost-effective manner.
Taking all of this into account, our in-depth research process concluded that eToro is by far the best Bitcoin trading platform in the UK. The exchange rate of Bitcoin in the UK will change on a second-by-second basis - as per demand and supply of the wider marketplace. If you are using a regulated Bitcoin trading UK platform - which you should be, you won't be able to trade anonymously.
On the contrary, you will need to upload some ID before you can make a withdrawal. However, there are hundreds of Bitcoin trading UK platforms that allow you to remain anonymous, albeit, they are unregulated.
Plus, you won't be able to deposit or withdraw funds with a traditional payment method - as only cryptocurrencies are supported! This means that you can trade in a safe and secure manner. However, many platforms are not licensed by the FCA - or any regulator for that matter, so tread with caution. The only platform that we are aware of that accepts Paypal is eToro. Up until January , you could have traded Bitcoin with leverage of This would have doubled your initial stake.
However, the FCA has since banned crypto CFDs, so you won't be able to trade with leverage unless using an unregulated platform, which you shouldn't. The minimum Bitcoin trade will vary from platform to platform.
Please Note: If you want to buy cryptocurrency rather than trade it you need a Cryptocurrency exchange like Revolut. CMC Markets. Yoni Assai Interview. Saxo Capital Markets. XTB Brokers. Omar Arnaout. Jonathan Hufford. Plus City Index. ETX Capital. The world's most famous crypto-currency is an obvious target for investors and traders due to its history of rapid gains and falls in value. This volatility makes it both very risky and potentially very lucrative as an investment.
The most obvious way to invest in Bitcoin is simply to buy Bitcoins. However, buying Bitcoins limits the investor to betting on an increase in the currency's value. If you believe that it will decrease in value and you would like to bet on this happening, then you'll need to acquire a contract for difference CFD or place a spread bet. These two approaches are fairly similar in operation. If the value moves in the opposite direction then you will pay the issuer of the contract the difference multiplied by your stake.
Spread bets are similar except that you are placing a bet with a bookmaker. If you are buying Bitcoins then you will require a Bitcoin address. This is a code to which the Bitcoins that you buy will be allocated. You can acquire an address by downloading a Bitcoin client to your computer or setting up an online wallet. Once you have your address you can purchase Bitcoins via an online exchange.
If you are taking out a CFD or placing a spread bet then you'll need to do so via a broker that offers these services. This will require you to open an account and deposit money. Many traditional foreign exchange brokers now offer the option to trade in Bitcoin. They also generally offer the option of leverage, which is betting using money loaned by the broker. When using CFDs or placing spread bets it is possible to lose more than your initial stake.
This will be amplified if you use leverage. Don't risk more money than you can afford to lose when you take a position. Placing stop loss orders which automatically close down your position when Bitcoin hits a particular value are an essential way to limit the risk that you face.
Make sure that you're not being overcharged and that the trading platform on offer is to your liking. As with any investment, the more you know about factors that will impact the price of Bitcoin, the more likely you are to profit. Say that a spread betting company is offering a bid price of 4, and and ask price of 4, I'm a big believer that traders should have access to markets they want to trade.
However, this market needs to be regulated. After all, people want to trade and they should be provided with a safe, secure and regulated environment to do it in. Anyway, if you are want to take on the massive risk of trading Crypto CFDs you can compare bitcoin CFD brokers here , but if you just want to know who has the tightest Bitcoin CFD spreads here is a quick comparison below:.
Read our ETX Capital review here. Read our Plus review here. Read our eToro Review here. To decide which broker is best for you check out all of our broker reviews. The answer is, of course, yes and no.
You can make money trading Bitcoin, if you buy low and sell high. Or, if you're a bear, sell high, buy low. The majority of people who trade highly volatile products like Forex tend to lose money. In fact, the recent regulatory changes have forced forex brokers to publicise the percentage of the clients that make money trading. But just because most people lose money trading, it doesn't mean you will. But you probably will, especially if you are trying to make money trading Bitcoin, because unlike Forex trading , index trading or investing in the stock market , where the markets have fundamental value and are swayed by economic events, crypto trading is driven entirely by sentiment.
Which of course makes it harder to predict. And being such a volatile asset class means that crypto prices can move dramatically. But a crypto can double or half in the blink of an eye. So, if you do think you can make money trading Bitcoin, be prepared to lose all your money doing so Despite a global ban from Google on non-regualted brokers advertising derivatives products , they are still getting through.
Amazingly you see them in the header of the DailyMail and other mainstream media websites. What's shocking about this is that they all seem to point to the same scam and no-one has been able to shut it down yet? Martin Lewis, the money-saving-guru from Money Saving Expert, recently sued Facebook because they failed to stop scammers using his image in scam ads for get rich quick Bitcoin schemes.
The answer is of course yes. There are many traders who trade Bitcoin. Some do it through spread betting where profits are tax-free. They will not, I repeat not, be marketing their services as a get rich quick scheme. In fact they are not allowed to advertise at all. Further reading: Should you enrol on a trading course to learn trade forex, spread betting or CFDs?
We're already written about how not to get scammed in crypto trading so won't go into that again. But suffice to say, if it looks like a scam.
It's a scam. Keep in mind too though that the scammers make clone websites, of real brokerages to scam you.