Bitcoin trading has never been more popular. The reason for that is because Bitcoin is reaching heights that nobody could’ve ever predicted. After the Tesla investment in this cryptocurrency, Bitcoin managed to finally reach the $50,000 mark and become as valuable as gold.
The chance for an amazing profit is what drives thousands of people to the network each day. With the proper knowledge, Bitcoin can turn traders into overnight millionaires. The best part about it is that experts believe that Bitcoin is yet to reach its peak. Considering the fact that Bitcoin’s value spiked exactly a year and a half after the two previous halving events, it is expected the same to happen on this occasion as well. The last halving event was in May 2020, which is why Bitcoin is rumoured to peak around autumn of 2021.
When it comes to trading and making a profit with Bitcoin, trading platforms play a key role in the process. That is why we wanted to take a deeper look at these sites, explain how they operate and what are some of the best platforms for Bitcoin trading. Let’s begin.
The Importance of Trading Platforms
Trading platforms are viewed by many as marketplaces, but the truth is that they are much more than that. They use the latest AI software systems that are able to collect all the data about Bitcoin from the market. This data is then analyzed and used to make accurate predictions on Bitcoin’s future fluctuations. The results are shared with the registered traders and the traders then know when is the best time to sell their Bitcoins and generate the maximum revenue.
As you can see, choosing the bitcoin system app can make a lot of difference because a reputable trading site will make sure that you end up with the highest possible profit. With that being said, let’s take a look at some of the best trading platforms for UK traders.
CoinCorner comes in at number 3. This trading platform allows fast account set-ups and it the perfect pick for the more patient traders as it allows them to employ a long-term buy and hold strategy. Since traders do not need any experience to use it, CoinCorner is extremely suitable for newbies. Additionally, it supports numerous payment methods and includes a reward program with more than 1,000 businesses. The only con that CoinCorner has is that it is known to apply pretty high trading fees.
With over 35 million customers from all over the world, CoinBase is the largest trading platform in the world. It is known for its impeccable security, being user-friendly, and has a handy mobile app that allows you to access the platform at any time and place. Additionally, CoinBase holds a license from the FCA and you can withdraw your coins out to a private wallet.
But, all of these advantages come at a price. CoinBase is known for its high fees. It has a 3.99% fee on debit card deposits and a 1.49% Bitcoin trading fee, which makes it one of the most expensive trading platforms.
The number 1 platform that provides traders with the best possible Bitcoin trading experience is eToro. This platform has been labelled as the best Bitcoin trading platform for UK users, as it is regulated on three fronts – the FCA, ASIC (Australia), and CySEC (Cyprus). Due to the regulations, users have tons of deposit methods at their disposal, you can buy Bitcoins without having to pay any fees, and the minimum deposit amount is pretty low – only £25. Not only that, but eToro has over 1,700 stocks and more than 150 ETFs.