Grade: Very good
Grade: Very good
How do you buy crypto CFDs?
To invest in CFDs on cryptocurrencies, you need to register with a crypto broker. Our test winner Libertex offers you the best options. I’ll explain to you now what you have to do.
Step 1 Registration with the broker
Signing up for Libertex is extremely easy and super fast.
Here’s how it works:
First you have to deposit money and only then can you trade cryptocurrencies.
Now your profile is completed and money deposited – let’s buy your first CFDs on cryptocurrencies together.
Congratulations, you bought your first crypto CFD and you can trade it now! Why buy cryptocurrencies from a crypto broker?
Crypto brokers are ideal for buying cryptocurrencies for beginners, as you don’t have to worry about storing your coins. So you can leave out all the technical details about wallets and concentrate fully on your trades.
In addition, the majority of crypto brokers are regulated and are permanently checked and monitored by the respective competent supervisory authority. So you act safely and above all quickly.
In addition to CFDs, you can use other trading products with most crypto brokers, such as futures, ETFs or certificates.
All in all, cryptocurrency CFD brokers are an ideal way to buy and trade your first cryptocurrencies. Sell CFDs on cryptocurrencies – here’s how!
Crypto brokers let you both buy and sell crypto CFDs. Here’s how selling your crypto CFDs at Libertex works:
What are the fees when buying crypto CFDs?
Fees when trading crypto CFDs also apply to Libertex. In the table I compare you the possible fees of our test winner Libertex compared to his competitors. Libertex eToro Capital.com Plus500 SkillingPayment free Free Free Free Free Purchase of cryptocurrencies 0.001% Fee per trade 1.5% Spread spread depending on the respective cryptocurrencies from 0.25% from 0.15% SpreadPayout 2 – 10 € / PayPal free 5 USD free of chargeInactivity fee no 10 USD/month after 1 year of inactivity no up to 10 USD/month after 3 months of inactivity no advantages and disadvantages of crypto exchanges and Crypto Brokers
In order to better decide whether you prefer to start with a broker or an exchange for your crypto purchase, I will compare the advantages and disadvantages of both trading platform types.
Crypto Broker Advantages and Disadvantages
+ High security
+ Fast buying and selling derivatives on cryptocurrencies
+ Different investment opportunities with Monero
+ Wide range of reputable & licensed brokers
+ Secure crypto trading possible
– You don’t own any “real” cryptocurrencies
– Longer verification process
Crypto exchange advantages and disadvantages
+ You own physical coins
+ Worldwide money transfers with low fees possible
+ Fast verification possible
+ Very large selection of coins
– You are responsible for your own crypto currencies
– Technical know-how necessary
– limited trading opportunities (no leverage, no shorts possible)
– currently limited withdrawal optionsPayment methods for the purchase of cryptocurrencies
With crypto brokers, you will usually find many different payment methods to choose from. Crypto exchanges, on the other hand, have very few options for you to choose from. The most popular and common providers are:
Optionally, you will find other payment options, including:
Regulation and licenses of brokers and exchanges for cryptocurrencies
The more regulation, the more centralized the brokers and exchanges are. But this also means more protection for your investments. I therefore recommend that you invest your money with regulated and licensed providers.
If you stick to the basic rules, I have given you here and do not put your money into dubious and dubious trading platforms, you will have fun investing in crypto currencies for a long time.
Licenses you should always be looking for are:
How do I secure my crypto investment?
If you invest in CFDs on cryptocurrencies, you can skip this section, because the broker takes care of the safekeeping of your deposits.
If you prefer to buy real cryptocurrencies, safe custody is essential. You should have the private keys for your cryptos under your own control in the best possible way, especially if you want to hodln.
How to do this exactly, I’ll show you now: 1. Always use the latest wallet version
Monero provides you with its own online wallet. It supports you in the safe storage of your crypto currencies.
Always make sure you’re using the latest version. 2. Use a hardware wallet
Even more secure is a hardware wallet, such as the Ledger Nano Wallet. Park your coins there if you want to hold them for a long time. Hardware wallets provide additional protection so that hackers can’t have access to your cryptos. Our hardware wallet comparison shows you what you should pay attention to with dedicated wallets. 3. DO NOT use seed generators
NEVER trust a website or software that wants to generate secure seeds for you!
It is best to generate your seed from capital letters (A-Z) and the number 9 by dice and change a few random variables manually. 4. Don’t pass on your seed
You should never share your 81-digit seed with anyone else. Your private key is similar to the PIN of your credit card.
If you want to pass on your “account number”, then you use the public key, i.e. the public address that you can generate in the wallet software. FAQ – Frequently asked question about buying cryptocurrencies How to buy cryptocurrencies in Germany?
Consider whether you want to own “real” cryptocurrencies, or just speculate with crypto assets. It depends on which platform you use. We recommend our test winner eToro. There you can use both variants and see what you like better. Buying crypto without a wallet – Is that possible?
Buying cryptocurrencies without a wallet works, but then you do not have any “real” cryptos, because these must always be stored on a wallet. Any other crypto trading is done by means of derivatives or similar. Which cryptocurrencies to buy?
It depends on your preference. Do you just want to benefit from the increase in value or are you interested in the project behind the cryptocurrency and want to support it? Where is the best place to buy cryptocurrency?