To start cryptocurrency trading, you need to find a suitable spread betting broker.

If you want to spread bet on a specific cryptocurrency, for example, bitcoin trading, check the broker offers it before opening an account.

Some common cryptocurrencies you can spread bet on include:

  • Bitcoin

  • Ethereum

  • Dash

  • Ripple

You can use this comparison to check the hours that each cryptocurrency broker lets you trade, and the spread offered on their platform.

How to find the best cryptocurrency trading platform

Look for the platform that offers the smallest spread for the cryptocurrency you want to spread bet on.

The spread is the difference between the buy and sell price of the asset you want to trade, for example, a specific cryptocurrency like Bitcoin.

The smaller the spread, the less the cryptocurrency value needs to change before you could break even or start making a profit.

Things to consider before spread betting

When you spread bet on a cryptocurrency, you do not own any of the currency. Instead, you trade on its value going up or down.

You start at a loss with all spread bets, equal to the size of the spread. If your trade does not go in your favour, you risk losing more money than you trade with.

For this reason, do not trade with money you cannot afford to lose. To improve your chance of making a profit, choose a broker that offers you the smallest spread.

Cryptocurrency spread betting accounts FAQs

Q

Is it safe to spread bet cryptocurrencies?

A

They are as safe to spread bet on as any other asset, e.g. forex. Here is more information on spread betting.

Q

Is spread betting gambling?

A

No, the FCA does not consider spread betting to be a form of gambling, instead it is seen as a type of investment trading.

Q

Will I need to pay tax when spread bet on cryptocurrencies?

A

You do not pay income tax, Stamp Duty or Capital Gains Tax on any profits. Find out more about spread betting here.

Q

Do I pay any fees on spread betting platforms?

A

Some charge for cash withdrawals or for leaving your account inactive for over a year. Check each platform's terms before opening an account.

Q

Is financial spread betting regulated?

A

Yes, all UK based spread betting companies are regulated by the Financial Conduct Authority.

About our Cryptocurrency spread betting comparison

Q

Who do we include in this comparison?

A

We include brokers from our panel that offer cryptocurrency spread betting. They are either authorised and regulated by the Financial Conduct Authority (FCA), or a European regulator and listed on the FCA register as EEA authorised.

Here is more information about how our website works.

Q

How do we make money from our comparison?

A

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.

You do not pay any extra and the deal you get is not affected.