Best Bitcoin Brokers for 2023
Now over 12 years old, bitcoin continues to grow and mature as an alternative asset, and is considered by many to be like a digital version of gold.
After peaking at over $18,000 per coin in late 2017, bitcoin retreated in price, and then surged back to claim record price highs above $69,000 in November 2021. As of publishing, the total value of all bitcoin is nearly $1 trillion, representing a significant portion of the entire cryptocurrency market — which is $2.36 trillion as of December 2021.
This guide explains what bitcoin is and how to buy it, and summarizes the best cryptocurrency brokers for trading bitcoin CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is bitcoin?
Bitcoin is a form of public internet money or electronic cash, known as cryptocurrency. It was launched in January 2009 after its design was published in a white paper. Bitcoin's supply is limited, and every bitcoin comes into existence through mining, where anyone from the public can verify transactions to help secure the network.
Bitcoin behaves very much like a commodity, due to its limited supply and because of the intense mining process. Bitcoin mining is akin to mining for gold, at least in the sense that it requires great effort and cost. However, bitcoin is far more efficient than gold in many ways, thanks to its use of blockchain technology, which means that all transactions are public and anyone can join the network.
Furthermore, bitcoin is highly resistant to any form of censorship, and forged transactions are impossible, thanks to the cryptographic primitives used in the bitcoin blockchain (and in bitcoin wallets).
Best Bitcoin Brokers for 2023
Based on over 113 different variables, here are the best forex brokers for buying cryptocurrency such as bitcoin.
eToro - Best overall for crypto trading
Capital.com - Great selection of crypto CFDs
Swissquote - Trusted global brand, diverse offering
Interactive Brokers - Best for professional traders
Eightcap - Most cryptocurrency pairs
Saxo Bank - Offers crypto derivatives
XTB - Good selection of crypto CFDs
