Read more about the various ways you can buy crypto per below. We also explain the differences between Crypto platforms, Crypto exchanges and Crypto brokers below.
Crypto Platforms – User friendly interfaces to smoothly buy/sell/stake crypto, with the underlying asset
Crypto Exchanges – More advanced user interfaces, providing more features, e.g. buying and selling with limit orders, with the underlying asset
Crypto Brokers – Offer trading crypto based on paper crypto, which allows for leveraged trading, more focused on day traders with proper Technical Analysis and graph trading software.
Crypto Platforms: Simple with no fuss
A crypto platform is primarily a good alternative if you want to buy or sell the underlying crypto asset as a beginner or if you want to easily manage your cryptos.
This is where you can buy/sell/stake various cryptos in a straight forward way. You just need to focus on whether you want to buy or sell and the amount and your order will be automatically filled by the crypto platform to whatever cost/spread that means, through a market order. When doing so you normally buy or sell the crypto at market price. This normally comes at a higher spread cost compared to when using a Crypto Exchange, as explained below. Examples of crypto platforms are the mobile apps by Crypto.com and Coinbase.
– See of unbiased reviews of all the best crypto platform here.
Crypto Exchanges: More advanced with order depth
A crypto exchange is a trading platform where you buy/sell the underlying crypto asset, i.e. the coin or token itself. At a Crypto Exchange you can see all the current buy and sell orders from the various buyers and sellers on the same exchange.
If you for example use the Crypto.com Exchange you will be able to see the number of sellers at a certain price level vs. how many buyers at a different price level. This allows you to set a limit order when buying or selling your crypto (i.e. only executing the order to buy or sell the crypto at a certain price). Very similar to what you see when you are trading stocks. Examples of crypto exchanges are Binance, Kucoin, Crypto.com Exchange or Coinbase Pro.
– Check out the overview with the in-depth review of all top crypto exchanges here.
Crypto Brokers: CFDs with leverage
Crypto brokers are platforms where you primarily can trade crypto papers, e.g. CFD crypto (contract for difference). This could be a good alternative if you prefer to trade crypto short term, and often with a leverage, giving both higher risk and opportunities.
Remember that crypto is already very volatile and having too much of a leverage would be extremely risky. Examples of brokers where you can trade crypto with a leverage is Skilling or StormGain. A crypto broker without leverage, that can be used to buy underlying crypto asset such as Bitcoin or Ethereum, is eToro.
Crypto Brokers typically also offer trading with sophisticated software interfaces, like Metamask 4, Metamask 5 or cTrader. This allows for more advanced technical analysis of various tokens, coins and other financial instruments. Cryptocurrency brokers with CFD trading are not allowed in the U.S, but are common in Europe and Asia.
– See all our independent reviews of crypto brokers here.
Decentralized Exchanges: For unusual coins
Alternatively, you can use a DEX for your crypto investments, which is short for Decentralized Exchange. It is rarely optimal to use a DEX if the coin or token is available on a Centralized Exchange (CEX), since you have to pay additional transfer fees for making the transaction on the blockchain. Some popular DEXs focus mainly on the Ethereum blockchain, such as Uniswap and SushiSwap, while Biswap and PancakeSwap are based on the BSC-chain. Meanwhile, Quickswap and Elk Finance use the MATIC blockchain, while TerraSwap is used on the TERRA blockchain.
– See the toplist with reviews of DEXes here.