A worldwide tech research firm shared in their survey, that millions of Americans are opening new brokerage accounts. Over the years, cryptocurrencies have gained popularity and are adopted and accepted by the world today. Data shows 300 million people around the world own cryptocurrencies, and by growing days the numbers are increasing. A crypto adoption craze was witnessed over the years which has increased the demand for crypto brokers and experts in the industry. Even in the current bear phase, digital assets worth $93.4 billion are traded every day around the world.
Crypto brokers are experts who trade for newcomers in the market and act as an intermediary between two parties. Similar to the traditional stock market, brokers are always in demand among institutional clients and retailers and can earn a huge commission. The top brokerage businesses hold trillions of assets with millions of active accounts. Today, the crypto exchanges offer liquidity, and trading depth which has created the best position for the crypto brokers to enter the industry and dominate the market with their exceptional skills. They provide the user access to high liquidity, multiple assets, and fiat currencies.
Get Your Own Branded Crypto Broker Platform
A Potential Future for Crypto Brokers in the Industry
Crypto brokers have a huge opportunity in the crypto industry today. The advanced analytical tools, multiple assets, and huge market size help crypto traders with improved trading performance. If you are at an advanced level of crypto trading and want to level up to utilize your skills, the crypto broker profile best suits you. If you are planning to enter the broker industry, there are several ways to do so. However, before delving into details, it is important to understand the role of crypto brokers.
Who is a Crypto Broker? How Are They Distinct From Stock Brokers?
A stockbroker executes orders on behalf of their retail or institutional trader and is usually a securities market expert. The insured, and regulated brokerage firms usually conduct a function of a stockbroker and are subjected to regulatory body scrutiny. They are a mandatory intermediary between the sellers and buyers. Without the broker, the two parties cannot trade.
Similar to a traditional stock broker, a crypto brokerage is also an intermediation in trades. However, unlike stock brokers, with cryptocurrencies, using broker services is optional. The crypto exchanges enable the traders to interact with each other and a trader requires to open an account, make a deposit, and start trading. Now the question is, if crypto trading involves a “Do-it-yourself”, what is the role of crypto brokers?
Why Hire a Crypto Broker When You Can Have it All in an Exchange?
If a crypto exchange and a crypto broker have similar functions, what’s the point of having two brokers? If they are not the same, then what is the difference between a crypto broker and an exchange?
The crypto exchange and the crypto broker offer similar services such as a matching buyer and seller, custody for clients’ funds, and transaction clearing. The similarity in services are unavoidable, yet there are significant differences in their services. For example, some exchanges function differently, and separate brokerage, clearing functions, custody, and outsource the same to strategic partners. However, in today’s crypto industry, locating such an exchange can be a tedious job.
There are exchanges that offer brokerage services and provide an all-in-one package for traders. These traders usually function under a broker-dealer license. But, what’s the point of having two brokers? It offers convenient trading for new traders and provides better liquidity.
The crypto industry is built on a siloed structure. While there are several stand-alone trading platforms like DEXs, semi-exchanges, hybrid exchanges, CEXs, etc. today, there are more than eighteen thousand cryptocurrencies with hundreds of blockchain networks majority of which are not interoperable and are built differently in design. For traders to get full exposure to the crypto market, they need to make several trading accounts in different exchanges, deposit funds and maintain them separately. However, it can be extremely inconvenient.
“Crypto liquidity fragmentation” is the biggest challenge and bottleneck in today’s crypto economic paradigm which is resisting mass adoption of cryptocurrency. The crypto broker helps the traders to solve the issue and provides them with access to diverse and deep crypto liquidity from multiple exchanges. Another best feature that brokers offer is the trader to use their fiat currencies only without worrying about conversion. This is extremely popular among new retailers in the business, and the institutes.
Who Can Pursue a Career as a Crypto Broker?
The Crypto brokerage business is not for everyone. Only highly skilled market professionals can become crypto brokers. The basic must-have skills that crypto brokers must possess are:
- Proper authentication, experience, and expertise in trading
- A unique team of experts
- Fast, and high-security infrastructure
- Attractive trading capital
- Liquidity providers, payment gates, exchanges, high ROI network, established customer relationships, and others
- Expert in marketing and business development capabilities
Get Your Own Branded Crypto Broker Platform
Finally, How to Become a Crypto Broker?
While there are several ways to become a crypto broker, PayBito has come up with the first-ever white-label crypto broker platform with an instant branded exchange with multiply-assets, fiat currencies, and amazing solutions.
What is PayBito’s White-Label Crypto Broker Platform?
A white-label crypto broker platform offers trading and exchange of Cryptocurrencies with other assets including fiat currencies. It provides a location for traders to store their crypto assets and offers several services such as liquidity. Being one of the industry frontrunners, PayBito is the first in the world to provide a white-label crypto broker platform using its state-of-the-art architecture and offering the clients to utilize a full range of services for trading, exchange, and investments of crypto with advanced analytical tools. PayBito allows the crypto brokers to launch their own brokerage business within a short period and offers high-end security, better trading deals, and a branded exchange with a wide range of crypto assets, and over twenty fiat currencies. The client can access over four hundred crypto markets and several innovative features.
Also Read: Difference Between Developing a Crypto Exchange From Scratch and Being a Part of PayBito’s Crypto Broker Ecosystem
PayBito’s Crypto Broker Platform Offers a Complete Solution
PayBito is globally acclaimed for its cutting-edge technology and innovative products. Its crypto broker platform provides a potential opportunity for expert traders to level up their position in the crypto industry, and start their own brokerage business for retail investors, and institutions.
PayBito offers easy installation, high-end security against hackers, 24/7 customer support, state-of-the-art blockchain architecture, and maintenance. The motto of the white-label crypto broker platform is to offer an “all-in-one” solution for investors to grow and grab all opportunities of investing in cryptocurrency. Here are some of the features that PayBito provides.
A branded exchange: The white-label crypto broker platform comes with an instant branded exchange that offers multi-asset trading options. The platform consists of some of the world’s dominating and popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, XRP, HRX, NEAR, AGRO, etc. Moreover, the platform is compatible with several devices and supports android and iOS devices, desktops, and others.
Complete banking solution: The platform consists of an integrated crypto-banking solution. The feature helps the users to gain high returns with other banking features such as account maintenance, collateralized lending, custodial solutions, and more.
Payment Solution: Institutes can utilize the crypto broker platform to offer various payment options in crypto and fiat currencies. The platform offers cross-border payment options with a basic fee. All the features are updated from time to time.
AML and KYC Complaint: security is of top concern in today’s crypto industry. PayBito offers high-end security with AML and KYC solutions for the authentication and verification of traders.
Liquidity Pools: PayBito’s crypto broker platform provides access to a secure liquidity pool that consists of investors from around the globe. Since the platform comes with a branded exchange, the brokers can access up to four hundred crypto markets.
Will Crypto Brokers Rule the Industry?
When the COVID-19 pandemic grasped the world and forced people to sit back home, many people lost their jobs, the economy went down, and the only hope was crypto. Since 2020, the world has recognized the importance and advantages of cryptocurrencies.
A renowned global research firm conducted a survey that showed around 10 million Americans opened new crypto brokerage accounts er the pandemic, and the numbers are only increasing. The fact that new crypto traders are joining the market has raised a demand for brokers is undeniable. PayBito plans to provide an opportunity for brokers to utilize its platform and offer traders a better experience in exchange for a commission.
Crypto brokers are in demand and are certainly growing in number. Will they be able to alter the crypto ecosystem and introduce a new grade of investors? While the market is still undergoing mass adoption, only time can reveal the truth.