When cryptos started taking over the trading market, crypto brokers became essential for every trader. Why are they so impactful and how?
Many would think brokers are all the same. They know a lot about the trading market, and their job consists of analyzing news and patterns that occur. When cryptocurrency became a thing, another type of broker appeared – crypto broker.
How are they different from a regular broker, and why are they so important?
Redefining the way traders think
Working with Forex (decentralized foreign exchange market) means trading becomes something that has to go through a broker of your choice. If you decide to focus on cryptos, you will certainly need someone who is putting effort every day into getting the right information, analyzing charts and merely being an expert in this specific field. Before cryptos, trading was an everyday thing – regular currencies, stocks. Now you have to pay attention to how much Bitcoin is mined, is there any policy change, what does affect the price of the crypto you are investing in? It is a fact that crypto brokers empower crypto trade by offering information very often for free (if they are really on top of their game, you will easily find who to follow on the internet). They encourage people to learn more about the system itself.
What every crypto broker must have
Crypto licence and a certificate are a big must if you want to entrust your money to a specific person and a company. Every serious broker already has it, which further implies that he is a person worthy of giving advice, guiding you through the process and explaining further about cryptos and what they are. They will also give you tips on how you should start, depending on your goal, and see if maybe some other crypto is better for you than, for example, Bitcoin. Certification is a must not only because of preventing scams, but because in every country, cryptocurrency regulations are different and change every so often. Please take into consideration that authorities and people, in general, are still very sceptical about cryptos because they don’t know enough about it, so this is a leverage of sorts that companies can hold. Of course, this will make you worry less, and trust the company and your crypto broker more.
Effective customer support system
Every brokerage has a Customer Relationship Management (CRM), but when you are dealing with crypto traders, it becomes far more essential and useful. CRM gives crypto brokers a chance to communicate more comfortably with their clients and also gain new ones. This is a vital part of every brokerage company, and they wouldn’t be able to handle so many clients if there wasn’t for this software. Since crypto brokerage requires immense focus, it is expected that the broker you are working with can’t be up 24/7. That doesn’t mean you can’t contact him when needed – it’s quite the opposite. A broker should have a couple of ways you can reach him, and if he’s not working at the time, there is customer support you get when you open an account, and naturally, your broker will get back to you as soon as he sees your messages/calls. It’s a demanding job, and, normally, it’s split between the crypto brokers and customer support. This shouldn’t worry you. They are still very informed of what’s going on on the market since it’s the company’s job and in their best interest to have clients who will feel comfortable and safe using their services.
Learning on your own
We mentioned briefly that you could easily find top crypto brokers that aren’t even offering their services to specific clients, but rather started trading themselves, and gained a sense of what is right. Many of them opened their own companies, so their focus shifted to sharing what they know on social media, podcasts or blogs. Some of them will even offer a course where you can learn more about cryptos yourself. It’s also fun seeing different approaches of (for example) top ten crypto broker accounts. Some of them are having serious content, consisting of many charts and insights, while others tend to mix up some memes or even private life with important information they share about cryptos. Some of them have youtube channels, so you can feel like there is an opportunity to get to know them a bit better and their story behind becoming crypto brokers and why. It’s the right mix of fun and educational content.