Best Online Brokers for Bitcoin Trading

1

TradeStation

TradeStation Crypto features a simple pricing structure. Account balances below $100,000 pay a 0.50% maker fee and a 0.50% taker fee. Account balances over $100,000 don’t pay a maker fee, paying either a 0.25% or 0.125% fee based on account size. At this commission rate, it would cost $5.00 to buy $1,000 worth of Bitcoin (BTC).

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2

Coinbase

Best Crypto Exchange Founded in June of 2012, Coinbase is the largest US-based cryptocurrency exchange, housing over 20 million users. Coinbase is best known for its easy to use website and crypto trading platform, Coinbase Pro. Coinbase supports 14 different cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), among others.

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3

eToro

Low Fees eToro is great for traders seeking zero-commission stock and ETF trades, an efficient platform, and access to copy trading. That said, there are hidden fees, education is sub-par, and eToro doesn't offer the same range of investments as traditional brokers. eToro's crypto offering includes 16 different coins. Although crypto fees are cheap, you can only withdraw your crypto assets with a dedicated eToro wallet.

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4

Kraken

Kraken - Kraken.com Kraken uses a maker-taker fee schedule with price incentives based on your trading volume over the last 30 days. For example, the average customer who trades less than $50,000 a month will pay $2.60 in fees for every $1,000 in trading volume. Fees for market makers range between 0% and 0.16%, while fees for takers range from 0.10% to 0.26%. This fee schedule, is more competitive than competitors like Coinbase and Gemini.

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5

Bittrex

Bittrex - Bittrex.com Bittrex has a simple pricing model, and charges a flat 0.25% on all trades. At this commission rate, it would cost $2.50 to buy $1,000 worth of Bitcoin (BTC). Higher-volume traders, those trading more than $25,000 a month, should look at Kraken for discounted pricing.

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6

Gemini

Gemini- Gemini.com Gemini is much more expensive than other exchanges, charging between $0.99 - $2.99 on transactions under $200, and 1.49% on orders over $200. This means it would cost $14.90 to purchase $1,000 worth of Bitcoin (BTC). Overall, Gemini is the most expensive crypto exchange included in this guide, charging more than five times what other exchanges would charge for the same transaction.

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7

Robinhood Crypto

Robinhood Robinhood Crypto does not charge a commission for placing crypto trades; however, it generates tiny profits from each order as it is routed. This routing practice, known as payment for order flow (PFOF), is also how Robinhood makes money from stock trades. In their user agreement, Robinhood Crypto states that they may receive activity-based rebates from Crypto exchanges, brokers, and market-makers, among other crypto intermediaries. Bottom line, since Robinhood is not transparent with its pricing structure, there is a possibility the all-in costs per trade are actually much higher than some competitors. Unfortunately, there is no way to know for certain.

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