Topic: Exchange vs Brokers (Read 127 times)
@OP, you are mixing a lot of things there. Just read multiple time what user exstasie said because he gave perfect explanation.
Well it's just a simple thing, really. If you want to buy bitcoins and manage/grow it personally, go and utilize an exchange. But if you are the lazy type of dude that doesn't want to bother watching the markets, go and give your money to a broker and let them handle your investments.
Hi All, not sure if i read this info on this site before , but tried looking at the search and couldnt find exactly what i was looking for so posting it in the forum, if it has been answered already my apologies...
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
I always prefer to manage my money personally and not pay other people to manage them!But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
so I would advise you to deepen and study the world of cryptocurrencies and after you have obtained the right skills, you can invest your money.
OP, what you are talking about is something more related to stocks trading and not really with cryptocurrency trading. The reason is that in stock trading, there are a lot of people that offer their services as a broker since it is not that easy to trade in stocks. Unlike in cryptocurrency trading, it is quite easy to get into it and do it yourself. It is as easy as just opening an account and depositing then you can already trade cryptocurrencies. What is nice is that you cut the middle man out of the equation. Though since I am not an expert with stocks trading, I am not sure how much fees are being paid in there compared to cryptocurrency trading.
came on guys, brokers are crap if you really want to buy bitcoins, or altcoins, or whatever you wanna do.
If you are just looking to buy bitcoins, just do it by p2p on localbitcoins, and that is it.
If you are just looking to buy bitcoins, just do it by p2p on localbitcoins, and that is it.
Hi All, not sure if i read this info on this site before , but tried looking at the search and couldnt find exactly what i was looking for so posting it in the forum, if it has been answered already my apologies...
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
Will this is a good information to us,thanks in that bro,you help us give the right information to not go in broker when dong transaction of buying coins.will i thinks in your country there's a platform site's that they can make us only a wallet of your bitcoins or altcoins,try to research,in internet,co'z we have a different country.me i used coins.ph.as a wallet of my bitcoins and my traditional currency and all profit of my trading i transfer all this into my coins.ph wallet,and its secured because i used an 2P2P password and it safe.
Thanks guys for all the info and suggestions, and will take safety seriously , this is indeed daunting territory and you can never have enough info, i appreciate your feedback 
Hi All, not sure if i read this info on this site before , but tried looking at the search and couldnt find exactly what i was looking for so posting it in the forum, if it has been answered already my apologies...
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
You're covering a very wide range of services here. There are legit, regulated broker dealers like Interactive Brokers, which provides exposure via regulated futures and ETNs. Those tend to have flat commissions because there is thick liquidity.
Then you have BTC brokers. This is a different breed. BitMex is the most reputable: Futures and perpetual swap markets. BTC in, BTC out, no KYC. However, I'm excited to see 1Broker's new offering (1Fox), which launches at the end of the month. There are % commissions, just like regular Bitcoin exchanges. I prefer CFDs and futures markets like this right now vs. exchanges because regulators seem more focused on exchanges.
Then you have the bucket shops like SimpleFx and Whaleclub. Stay away from these places. They'll lock your account or steal your profits.
Hi All, not sure if i read this info on this site before , but tried looking at the search and couldnt find exactly what i was looking for so posting it in the forum, if it has been answered already my apologies...
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
Brokers will generally charge a premium, after all they're acting as a middle man and they'll take their cut accordingly. With an exchange you're not paying that fee and you'll get a better deal.
Thanks , for the answer , this helps as i dont want to trade , i just want to exchange my euros for crypto currencies but wasnt sure who to go with and i rather save my money offline than let someone else invest it.
That is it, then put all your money on a safe place, just buy bitcoins/eth/or whatever altcoin you wanna buy, but store it on a safe place.
And with a safe place, i am talking about a safe wallet, not storing those alts on an exchanger wallet because you can lose them at any time.
So the best thing that you can do is just invest some money and buy a Trezor or a Ledger wallet, they are cheap, and they will make sure that you are having them in there forever.
Take the safety seriously, you do not know what can happen in a near future.
Thanks , for the answer , this helps as i dont want to trade , i just want to exchange my euros for crypto currencies but wasnt sure who to go with and i rather save my money offline than let someone else invest it for me, i guess what im saying is i will just hold on to it, so exchange would be the way to go at least for me then .
Exchanges are the most easy way to buy coins without having to spend a fortune in paying for leverages, taxes,
fees for having a trade opened, and so on.
If you do not know what a broker is, then do not invest in ETORO or just any of them to buy bitcoin, because you are going to be buying "contracts" with leverage.
It means that if you do not setup a stop loss, or if you put a SL and the price goes down, you are going to lose everything because of the leverage.
fees for having a trade opened, and so on.
Exchanges will charge a small commission in order to use their services - that is how they make profit.
If you do not know what a broker is, then do not invest in ETORO or just any of them to buy bitcoin, because you are going to be buying "contracts" with leverage.
A broker will invest money on your behalf for a period of time, hoping to make a profit and taking a small cut for themselves.
It means that if you do not setup a stop loss, or if you put a SL and the price goes down, you are going to lose everything because of the leverage.
You should do a lot more learning before investing any of your money. It is a rather peculiar question you have asked: An exchange is a means to convert your fiat to cryptocurrencies and vice versa. Exchanges will charge a small commission in order to use their services - that is how they make profit. A broker will invest money on your behalf for a period of time, hoping to make a profit and taking a small cut for themselves.
Hi All, not sure if i read this info on this site before , but tried looking at the search and couldnt find exactly what i was looking for so posting it in the forum, if it has been answered already my apologies...
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
But what i read before was dont go with a broker , better to go with an exchange as the broker charges you lots of money, but while researching today i heard the opposite some blogs tell me go with brokers as exchanges cost more due to the " spread"
so now i have diverging opinions, if i have to pay for both what is the cheapest alternative? i want to buy coins and save , not really interested in trading, just buy and transfer to my offline wallet. but not interested in high prices either...
Any help would be appreciated
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