It is impossible nowadays to scroll through the newspaper without reading an article about cryptocurrency. Crypto trading is based on a global phenomenon of blockchain technology which has taken the world by storm in a short time period and has impacted the global economies to a great extent. Thus, there’s no denying the fact that crypto is here to stay. Better Know
New traders looking for a place to buy crypto are likely to use a search engine and go with the first crypto exchange that appears in the search result. This is a huge mistake! Crypto beginners should always conduct their own research to find the most popular exchanges because not all cryptocurrency exchanges are meant to cater to your needs. Many traders often get confused between the cryptocurrency broker and the crypto exchange. Read cryptocurrency broker review written by experts to make finalize decisions. Thus, here are the top three reasons why it can be a great idea to consider a crypto broker over an exchange to buy cryptocurrency. Irrespective of the asset being bought or sold (forex or crypto), you need to find a reliable platform to buy or sell. Whenever a brand new crypto exchange opens up, it must offer top trading pairs to offer traders a marketplace to trade. The more traders buy and sell currencies from an exchange, the more liquid it is considered. Thus, the trading liquidity is distributed from existing crypto exchanges which adversely affects the small crypto exchanges with whom you might be trading currently. However, crypto brokers can completely prevent this from happening as they continuously monitor the market and act per the traders’ instructions to buy and sell. They make decisions based on the quote or estimated price. Thus, the broker is able to distribute buys and sells across the most liquid crypto exchanges worldwide. In this way, they can increase their combined order book liquidity for any given asset. A common mistake many crypto traders make while selecting a new crypto exchange is they choose a low-trading cryptocurrency exchange. However, it might appear to be a lucrative proposition and logical decision, in the beginning, to increase the fiat deposit in a crypto exchange for more cryptocurrencies. On the other hand, crypto exchanges with low liquidity in the order book result in a high spread as well as slippage fees that would eat all your funds. Various brokers are able to distribute buys and sells across the most liquid crypto exchanges to find the highest liquidity for a particular asset and divide the order across such exchanges. Traders who use crypto brokers benefit from the best market rate, minimal slippage and lower spread, which increases their profitability in the long run. Many traders feel stuck in crypto trade and unable to get a fill on crypto exchanges which provide tradable assets of more than 200. Crypto pairs on exchanges have their particular order book based on the trading volume for every asset against fiat. Thus, it leaves crypto exchanges with lesser and lesser liquidity, resulting in high slippage charges and spreads for the tradable assets. At the same time, crypto brokers can provide assets without any liquidity loss. This is a major benefit of choosing cryptocurrency brokers over crypto exchanges. For traders, this not only means low spread and slippage fees; in addition, traders can also use a single crypto broker trade, handle their crypto portfolio and keep assets at a single location without registering with numerous exchanges to trade. If you are thinking of purchasing Bitcoin or any other cryptocurrencies, it is recommended that all traders do thorough research regarding the broker in advance and check their slippage fees and spread related to low liquidity order books. However, many traders go with the greedy crypto exchanges that charge high spreads and follow deceptive, manipulative and unethical practices to deceive their clients. The solution to this is to find a reputable and professional cryptocurrency broker that offers the best market rates and lower costs that enhance your profitability in the long run. For beginners who are new to crypto trading, it is best to choose a crypto broker who offers excellent digital currency educational materials for better understanding. And always remember to choose a crypto broker over the crypto exchange for the best trading benefits.1. Great Liquidity Pool
2. Reduced Spread And Slippage Fees
3. Increased Crypto Pairs To Trade
Conclusion
Top Three Reasons To Use A Broker To Buy Cryptocurrency
It is impossible nowadays to scroll through the newspaper without reading an article about cryptocurrency. Crypto trading is based on a global phenomenon of blockchain technology which has taken the world by storm in a short time period and has impacted the global economies to a great extent. Thus, there’s no denying the fact that crypto is here to stay. Better Know
