With the first steps in the crypto environment, one may wonder about the best way to be involved into the process with the biggest possible benefits. So, there are two main ways to go – either to enter the trading platform or get acquainted with offerings of broker, which can be also defined as being involved directly or have and intermediary for transactions. There is a different way to decide which of the options is the best, depending on the conditions and planning of asset using, but the overall arguments about domination of trading or broker in terms of convenience are still quite common.
How broker and trading are defined
First of all, the main difference in the methods is defined by the participants of transactions. So, broker usually works for the certain company offering the service of exchange, whereas trading platform makes itself the mediator between users who want to exchange the assets. The same notions can be also understood in the other way – trading platform involves the owner of crypto assets directly into transferring, where they can make their own choice about course of actions, and broker is entrusted with certain amount of assets which should be benefitted from, so they make all the decisions.
Benefits of trading platforms
- Complete transparence of operations – it is clearly seen where the funds are gone and given due to direct involvement into transactions performed.
- Comparative cheapness of service – is not necessary to pay additional percentages for broker’s work, allowing to concentrate more funds on operations.
- Bigger choice of crypto pairs – different platforms try to overpower the others in the number of combinations available for exchange.
- Suitability for long-term interaction – when planning the holding strategy, it is rather convenient to use trading platforms directly.
Advantages of broker platforms
- Activity license available – in order to set the credibility of service, many get the special license, verifying the right for being entrusted with other’s assets.
- Reliability of results – when it is easy to make mistakes by oneself with lack of experience, the broker handles all the risks concerning transactions.
- Access to advanced analytical data – for making the most beneficial decisions, brokers track different kinds of useful information that helps in predicting the outcome of forecast.
- Suitability of short-term interaction – if there is a need in getting the most for the short period of time, it is rather worth requesting the professional’s help in receiving the income.
As a result, each one decides for oneself which option is better when working with crypto – is it convenient to get the experience gradually or entrust the assets to another person who will find the best use for them and get the maximal benefit. It is better to choose wisely, using both methods for each situation and defining the priorities for interaction with crypto depending on the conditions, therefore finding the middle ground.