In 2020, the Bitcoin price reached historic highs. Since 2017 the cryptocurrency had not broken the U$ 13,000 barrier (surpassing R$ 70,000), increasing the interest of investors on how to choose the best Bitcoin broker.
Brokerages, also known as exchanges, are operators that make it possible to trade crypto-assets. But before you start buying and selling, you need to know how they work, their main features, and the fees they charge.
In this article, we have separated a list for you to choose the best Bitcoin broker, check it out!
A few factors explain Bitcoin’s recent rise
The main one is the devaluation of international currencies during the coronavirus crisis. To alleviate the effects of the pandemic, many countries injected money into the economy, causing currencies to depreciate.
On the other hand, Bitcoin has a deflationary nature. That is, like gold, Bitcoin has scarcity. There is a limit set on its mining. With the increase in demand and a future reduction in supply, its bullish swing occurred rapidly in 2020.
Other facts that justify Bitcoin’s appreciation are the incorporation of the blockchain system for operations by international banks, and PayPal’s announcement that the cryptocurrency can be used for payments on the platform starting in 2021.
With more institutions accepting Bitcoins, more people started to look for ways to trade the cryptocurrency from brokers. See below how to trade this asset and then learn about our list of the best Bitcoin brokerage.
How to buy and sell Bitcoins?
Because it is a decentralized currency, without interference from any government, Bitcoin transactions are made directly between users in an encrypted manner. This is called peer-to-peer, in which mathematical algorithms are used to validate the transactions.
The broker or exchange is the platform that connects these interested parties. It will be responsible for converting the cryptocurrencies into dollars or reals, for example. Before you can buy Bitcoin, you need to register with one of them and transfer funds to your account.
From the broker you can deposit and withdraw to the Bitcoin wallet, a public address consisting of numbers and letters. The wallets can be virtual, in applications, or physical. They are protected by a private key, a password that must be kept by the holder.
Now that you know a little about how cryptocurrency trading is performed, below we list some institutions for you to decide which Bitcoin broker is the best. P2P exchanges are very popular, compare them on this page.
How to choose the best Bitcoin broker?
Some important points before choosing the best Bitcoin brokerage are:
- Check membership. Although the sector does not yet have a specific regulation in Brazil, Bitcoin brokers must be affiliated with ABC Cripto, an entity in favor of the development of the cryptoeconomy in Brazil;
- Check security. Find out what security practices are used to access the platform, such as two-step verification, strong password requirements, and other security barriers in place.
- Is there liquidity? A brokerage with high trading volume means that it is being used by many users to buy and sell crypto assets. In case of integration with other international exchanges, the broker’s liquidity is higher.
- Payment method. Before creating your Bitcoin brokerage account, check what means are used to transfer funds. Some exchanges offer everything from bank deposits to credit card payments.
- Know the fees. Whether it is for depositing, withdrawing funds, or executing orders, it is necessary to know the fees charged in real and BTCs by the company. Following our Top 10, we have prepared a comparison for you to check out more.
Which is the best Bitcoin broker in Brazil?
After analyzing the items above, now it’s time to know a little more about the best bitcoin broker to make your transactions in real. We have separated 10 platforms for you:
- Bitcoin Marketplace
- Nox Bitcoin
Among the most recent and innovative cryptomarket operators, Coinext is one of the main Brazilian bitcoin exchanges.
It has available for investment, on its platform, the main cryptos in market value: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and USD Tether and it is possible to invest with only R$ 25,00. In addition, the platform has a personalized chat service on the website and an app for Android and iOS.
One of the best known Bitcoin brokers in Brazil is Foxbit. Based in Itaim Bibi in São Paulo, Foxbit has been active in the cryptocurrency market since 2014. In 2019, it obtained the impressive mark of more than 650,000 customers.
Because of its wide user base, liquidity is one of the main positive points of the Brazilian forex. Thus, there is speed in the execution of BTC orders. Its platform and app are also user-friendly, with 2FA verification for added security.
Fintech BitBlue is the cryptocurrency trading arm of exchange operator B&T. Launched in 2018, its main attractions are integration with the banking system, which speeds up the transfer of values, as well as order fees below the market average.
Another highlight of BitBlue is the company’s strict compliance. The broker requires identification of its customers and invests in information technology for greater protection and security of the operations performed.
The brokerage BitcoinTrade was founded in Rio de Janeiro in 2017. With more than 180,000 registered customers, the operator offers liquidity in seven cryptocurrencies, including BTC.
One of BitcoinTrade’s highlights is the Bitcoin commission-free trading. Another plus point is the security technology, which has achieved PCI DSS Level 2 certification for the encryption of credit card data in payments.
5. Bitcoin Marketplace
Founded in 2013, Mercado Bitcoin was one of the first Bitcoin brokerages in the country. Today, the brokerage operates throughout Latin America. It has over 2 million clients in all, half of them in Brazilian territory.
Among its advantages are its easy-to-use trading platform and high reliability. In 2020, Mercado Bitcoin was recognized as one of the 25 most trusted exchanges in the world, according to the Blockchain Transparency Institute.
Since October 2018 in Brazil, the brokerage Novadax is owned by the Chinese technology company Abakus Group. In 2019, forex had about 100,000 clients and more than R$300 million traded in cryptocurrencies.
Its main advantage is its diversified portfolio of cryptocurrencies, with some of its altcoins being available to the Brazilian public only on Novadax. The app also has a friendly and user-friendly interface.
Based in Campinas, Walltime is a Bitcoin brokerage that has been operating since 2016 in Brazil, integrated with the banking system of Santander, Banco Inter, Neon, and Caixa Econômica. Its platform is simplified and easy to access, fully in Portuguese. Other strong points of Walltime are the fast service and zero fee for BTC withdrawals. Check the website here.
Operating since 2017 in the Brazilian market, Profitfy is an innovative brokerage option to trade Bitcoin. The company provides a partnership with OriginalMy, increasing security checks with more features for platform users.
Braziliex brokerage has one of the largest client bases in Brazil. Visit their website, to learn more. There are more than 100,000 customers who can trade Bitcoin and more than 10 altcoins in real. In addition to this attraction, the Braziliex platform is 100% original, increasing security and convenience.
10. Nox Bitcoin
Brazilian fintech Nox Bitcoin is one of the newcomers in the cryptoactive market. It was founded in 2018 in São Paulo and already has 5,000 users on its platform. Its differential is in charging small fees and offering investment strategies with Bitcoin.