The best brokers for buying and selling cryptocurrencies in April 2022

 

Robinhood

Robinhood is a great option for buying cryptocurrencies outright. You can also benefit from Robinhood’s very popular transaction fees. You’ll pay $0 per transaction, or no fees, but you’ll pay the markup spread on each transaction. And if you are more than just a cryptocurrency, you can stick to trading stocks and ETFs for the same price. Robin Hood’s state-of-the-art app makes trading extremely easy, but those looking for a full-featured trading experience will be disappointed.

Cost: $0

Minimum account: $0

Interactive Brokers

The interactive broker can allow you to trade four cryptocurrencies including Ethereum and Bitcoin directly at one of the lowest fees on the market. You can also buy Bitcoin and Ethereum futures instead of holding the currency directly. And for this broker, you can buy Bitcoin futures on the Chicago Mercantile Exchange. The contract is $ 11.02 for 5 coins per contract and the Ethereum contract is $ 9.02 for 50 coins per contract. In addition, Interactive Brokers offers a complete suite of investment offers, so you can buy almost anything you trade on the exchange.

Commission: 0.12-0.18% of the transaction amount. $ 10.02 per futures contract

Minimum account: $ 0

Webull

Webull may not be as famous as rival Robinhood’s fee-free trading app, but it provides investors with a powerful service, including cryptocurrency trading. We pay no fees for trading crypto (or stocks and ETFs), but Webull charges a markup spread based on 100 points (1% of the purchase price) on both sides of the trade. Several cryptocurrencies are available for trading, such as Bitcoin, Ethereum, and Cardano. Great charting tools and mobile apps make Webull a must-see broker.

Cost: $0

Minimum account: $1 for crypto trading

TradeStation

Traders have several options with fee-based pricing with this broker, who starts trading currencies directly through TradeStation Crypto. Prices are based on your account balance with the broker and your ability to sell your orders directly. Prices usually range from 0.05% to 0.3% of the order. Traders can also buy and sell Bitcoin futures and take advantage of large trading discounts.

Cost: 0.05-0.3%

Minimum account: $0, but futures margin depends on the contract

Binance.US

Binance is a dedicated trading platform that allows you to buy and sell not only the biggest currencies like Bitcoin and Ethereum, but also digital currencies including dozens of other smaller coins. In total, you can access about 60 cryptocurrencies. Binance’s fee structure is low and it will only be cheaper if you trade. Transaction fees start at 0.1% of the transaction value (that is, $10 for every $10,000 sold) and decrease from there depending on the volume of transactions over the last 30 days.

Fee: 0.1% or less of the transaction amount

Minimum account: $0

Coinbase

Coinbase is a dedicated cryptocurrency-focused platform that allows you to instantly trade digital currencies like Bitcoin, Ethereum, Solana, and Tether. In total, you can access more than 100 cryptocurrencies. You can also delay withdrawals and store coins in the vault for added protection. Steep exchange fee structure. This fills the markup spread by around 0.5% and increases transaction fees depending on the size and source of the transaction, but the Pro platform is less expensive.

Fee: At least 1.99% of the transaction amount

Minimum account: $0

eToro

eToro offers no-fee cryptocurrency trading fees, but like many other brokers, it charges spreads based on the cryptocurrencies traded. Bitcoin will pay a markup of 75 basis points, but more ambiguous cryptocurrencies can approach 500 basis points, or 5 percent. One of the main features of eToro is CopyTrader. It allows you to follow, identify and copy trades to other top traders on the platform. Be sure to do your research before implementing this strategy.

Fees: Markup spreads based on cryptocurrencies traded at $0

Minimum account: $50

Kraken

Kraken is a cryptocurrency exchange where you can trade dozens of digital currencies like Bitcoin and Ethereum, as well as new currencies like Cardano and Solana. In addition to the 1.5%, or 0.9% fee for Stablecoins, you will pay an additional fee if you use your card to collect funds through a bank. More active traders can benefit from a premium rate called Kraken Pro, whose price has dropped from 0.16 percent to 0.26 percent. But Kraken is still not available for the New York and Washington areas.

Fee: 1.5%, or 0.9% for Stablecoins (minus with Kraken Pro)

Minimum account: $1

Charles Schwab

Charles Schwab is one of the bank’s rate options for top brokers on a regular basis, and this investor-friendly company offers Bitcoin futures trading. Schwab also does not have a minimum account, but futures contracts to trade require a minimum amount. Schwab offers an attractive commission of $1.50 per contract, and if you can make a lot of money, you’ll also get a welcome bonus.

Cost: $1.50 per contract

Minimum account: $0, margin futures depending on the contract

TD Ameritrade

TD Ameritrade is one of the top full-service brokers on the market, providing access to traditional commodities such as stocks and fixed income, as well as expanding its offering to include Bitcoin futures. However, TD Ameritrade does not allow direct trading in digital currencies. You need a sufficient number of accounts to start Bitcoin futures. (Charles Schwab would acquire TD Ameritrade and eventually merge the two companies.)

Cost: $2.25 per contract

Minimum account: $25,000 for futures