Step by step: how to buy crypto on Interactive Brokers
1. Open the Client Portan on your IB account
2. Look for the symbol search bar, and enter the product you are looking for
3. Click on 'Buy', set your order types, quantity and so
Interactive Brokers vs a crypto exchange
There are a number of key differences between Interactive Brokers and a crypto exchange service. Just to name a few:
- A crypto exchange service is not regulated by financial authorities, it is still a fresh industry. Therefore, counterfeit actions can be more common, which is great decreases its safety
- Interactive Brokers has just recently introduced "real" coins instead of ETNs and derivatives through PAXOS with limited. Usually, brokers don't provide "real" coins, whereas crypto services
- Crypto service exchanges usually charge higher fees than brokers like Interactive Brokers
- Withdrawal and deposit are much more expensive than at Interactive Brokers. Also, unused cash is not protected by crypto exchanges
What cryptocurrencies are available on Interactive Brokers?
IB is about to roll out "real" crypto trading on the platform. At the moment, they can be traded through PAXOS, an intermediary.
The following cryptos are available:
- Bitcoin
- Bitcoin Cash
- Ethereum
- Litecoin
More coins are expected to be added soon.
Interactive Brokers: further reading
- Interactive Brokers review
- How to trade after hours on Interactive Brokers
- How to buy ETF on Interactive Brokers
- Why is Interactive brokers so cheap?
- How to use Interactive Brokers for Paper Trading
- How to withdraw funds from Interactive Brokers
- Interactive Brokers fees explained
- Interactive Brokers Account Opening
- Is Interactive Brokers good for beginners?
- Is Interactive Brokers free?
- Can you trade options at Interactive Brokers?
- Interactive Brokers Minimum Deposit
