Where to buy your first cryptos? Probably on simple, reassuring platforms that will allow you to invest without getting in over your head. Brokers differ from pure exchanges (such as Binance), whose complexity can put off neophytes. Naturally, this simplicity comes at a cost: these services are paid by buying cryptos on the exchanges for you. But their commission is relative if you don't want to trade all day (although you can).
We have selected 3 types of player in this comparison: the foreign giants (Bitpanda, Coinbase, Crypto.com), the French benchmark (Coinhouse) and a few outsiders that have caught our eye in recent months (Deskoin, MT Pelerin, StackinSats, Swissborg). All are of great quality, but there are some special features that will help you find the one in your wallet.
We could have mentioned the investment services of neo-banks like Lydia and Revolut, but we firmly believe that users need to be able to transfer their cryptos to external wallets and these fintechs do not yet offer this option (Revolut has started testing it in the UK).
The informed investor should be wary of the fees displayed:
- When Crypto.com indicates 0% commission, the platform applies an undisclosed spread (rate differential) which is not to your advantage when trading. As a result, you often buy your cryptos at a higher price than the market price and sell them at a lower price. The "no fees" is only in appearance.
- We tested a purchase on Coinhouse and Bitpanda: despite lower theoretical fees, Bitpanda sent us slightly fewer bitcoins than Coinhouse.
Generally speaking, brokers that have not developed exchanges (Coinhouse, Deskoin, MT Pelerin, StackinSats, Swissborg) display fees that are easier for consumers to read, as they sell cryptos at the market price, plus their commission. Most of them are connected to the US exchange Kraken, one of the industry's benchmarks.
Bitpanda Advantages : lots of cryptos, but also equities and commodities, regulated by the Autorité des marchés financiers (AMF).
Disadvantages: average fees
Coinbase Advantages: global reference, ease of use and wide choice of cryptos.
Disadvantages: high fees and very poor customer support.
Coinhouse Advantages: high level of compliance, transparent fees, suitable for both individuals and businesses, an account manager is allocated to customers who want one.
Drawbacks: average fees and no payment card (available in the next few months).
Crypto.com Advantages: very wide choice of cryptos, excellent user experience, many advantages with payment card.
Drawbacks: not regulated in France, customer support in English.
Deskoin Advantages: regulated by the AMF, easy to use and reasonable fees.
Disadvantages: no additional options apart from buy/sell.
MT Pelerin Advantages: excellent fees, non-custodial wallet, suitable for demanding users.
Disadvantages: requires some experience of managing the non-custodial wallet.
StackinSats Advantages: one of the best services for investing in Bitcoin at low cost, automatic investments with regular maturity, regulated by the AMF.
Disadvantages: a little difficult to use for neophytes as no custodial service yet (but it's coming this summer according to our information).
Swissborg Advantages: the best user experience in this comparison, very good returns on offer on your sleeping cryptos.
Drawbacks: not regulated in France.
