RIO DE JANEIRO, BRAZIL – With the recent popularity of Bitcoin on social networks, more and more Internet users are looking for ways to take their first step in the cryptocurrency market. Although there are other ways to buy these assets, one of the most common forms, among both beginners and the more experienced, is through brokers (or exchanges).
Where to invest in Bitcoin
These companies simplify the investor’s experience with a variety of functionalities, protection resources, and greater liquidity – a term that refers to the speed of an asset’s transaction. This important trio of factors determines whether cryptocurrencies can be bought, sold, or stored easily and safely within the platform, and are thus criteria for their rating.
Moreover, other important factors to consider before making a decision is the broker’s track record in the market, its regulation under Brazilian law, and customer service.
To assist the search, a guide has been prepared to help future investors start their journey into the cryptocurrency market. Some of the best brokers in Brazil are listed below.
Binance
Binance is currently the world’s largest cryptoactive broker by market volume. This means that, in general, it is possible to trade most currencies on the platform with plenty of liquidity and speed in transactions. In addition, its system offers strong security features, several types of investment products, and fixed fees per transaction.
In Brazil, Binance accepts deposits and withdrawals free of charge through PIX, and it is also possible to buy cryptocurrencies using Visa and Mastercard credit cards.
Binance is a good option for those seeking versatility and reliability for transactions.
NovaDAX
Like Binance, NovaDAX is also an international company, in this case part of the Abakus Group, specialized in the development of technology and Big Data. Therefore, its platform in Brazil relies on robust resources, high liquidity and attractive rates, the result of a global network of markets.
Among its main differentials are a large number of pairs with the Real (BRL), chat support with human attendants in business hours, and several reward programs for users.
BitcoinTrade
Founded in 2017, BitcoinTrade is a reference in the domestic cryptocurrency market. Its platform features a pleasant interface, good customer service, security features to improve transaction reliability, and no fees for deposits, which can even be made by credit card.
However, BitcoinTrade offers lower liquidity than its competitors such as Binance and NovaDAX. In addition, its fees are slightly higher and may not be attractive to all types of customers.
Foxbit
With almost 43% of the domestic bitcoin volume, Foxbit is one of the largest companies in the cryptocurrency market in Brazil. Its platform, founded in 2014, boasts good features, attractive rates, and different deposit modalities. According to data from the company itself, about R$4 billion (US$740 million) have been traded on its systems.
Mercado Bitcoin
Mercado Bitcoin is the first cryptoactive broker in Brazil and today has more than 2 million clients. Its platform is intuitive and user-friendly, with good customer service support and strong security features. Despite being a good option, it is the company with the highest fees compared to the competition.
Protect your portfolio
After checking out some brokerage suggestions, there is another important tip that can be worth gold: despite all the security features offered by companies, one’s cryptocurrency portfolio can still be at risk. For the more cautious, storing assets in so-called hardware wallets, a type of device that works like a smart wallet and seeks to protect its contents from attackers of all kinds, is suggested.
Unfortunately, in this context, it is not unusual to hear news of large brokerage houses that have been attacked by hackers or have simply disappeared, taking their users’ money with them. Therefore, it is always worth checking the company’s track record and reputation before making any deposits.
Source: Tecmundo