Due to the volatility of cryptocurrencies, Crypto Day Trading has become one of the most profitable and easiest ways to make money from the crypto market.
Advertisement
Many crypto traders today desire to move in and out of the crypto market within a day. In that essence, crypto-day trading has also been allowed on many platforms.
In this article, we will explain what crypto day trading means and the top 5 Crypto Day Trading Platforms.
What is Crypto Day Trading
Crypto-day trading is a trading strategy involving a trader entering and exiting positions within the same day. This trading strategy is also called” intraday trading” since the trade tends to open and close within a day.
The main aim of crypto day traders is to profit off price changes in the market. The volatile structure of cryptocurrency makes day trading a highly lucrative commodity and makes traders lose massively.
Advertisement
For instance, it is almost impossible for a traditional stock or commodity to see a 10% jump in a single day but spikes like this are very common in crypto.
Top 5 Best Crypto Day Trading Platforms
Like other forms of trading, crypto-day trading is beyond just a mere guess and requires expert analysis before you can start trading.
Advertisement
There are many trading strategies traders can use. Still, we advise traders to have a solid strategy they can often use to earn massively and avoid asset loss.
If you are looking for the best crypto day trading platforms? Below will analyze the best crypto-day trading platforms based on their features, trading fees, a regulated ecosystem, year in existence, etc.
1. Coinbase
Coinbase, an American cryptocurrency platform, was founded in 2012. It has been one of the oldest crypto exchanges in the world. Coinbase was created to be one of the most accessible crypto platforms where companies, investors, and businesses can trade, buy and sell any cryptocurrency. Its wide range of crypto acceptance and being in the industry for a long time makes it very self for asset keeping.
Features
Advertisement
- It has a 98% cold storage policy to secure its customers’ funds.
- It supports 100+ cryptocurrencies.
- It has a trading fee of 0.5%.
- It supports multiple payment methods for its users to add US dollars easily.
If you are looking for the best crypto day trading platforms for beginners, we recommend Coinbase because it allows you to start with a small amount of money, and opening of account takes a few minutes.
2. Crypto.com
If you are a trader looking for the best platform to trade on a diverse market, crypto.com is what we recommend for you. This platform was launched in 2016 and has been a major global player as far as exchange exists.
Another aspect of this platform that we like is that it provides leveraged financial products; this not only gives you a chance on crypto day trading but with leverage up to 10x, making it highly profitable when trading.
Features
Advertisement
- It allows up to 10x leverage.
- It has a trading fee of 0.4%.
- Deposits of cryptocurrencies are free.
3. eToro
eToro is popularly known for its low fee in trading crypto and its user-friendly interface. More than 40+ spot trading markets can be traded on the eToro platform, all of which are paired against the US dollars. Furthermore, you can swap digital assets for fiat currencies like the British pound and Euro. eToro allows beginners to trade on a low fee before mastering the game.
Features
- It has a minimum deposit of $10.
- It has a low trading fee.
4. Bitstamp
Bitstamp is a well-known cryptocurrency platform. Over 50 different cryptocurrencies are available for investors to trade on their platform, which serves over 4 million of its customers globally.
Advertisement
A low trading fee is one of the most important criteria when selecting a day trading platform, and Bitstamp fits these criteria.
Features
- It has the lowest trading fee for crypto-day trading.
- It is both suitable for day trading in the browser and mobile app.
5. Binance
The Binance trading and exchange platform is the world’s largest crypto exchange, with its headquarters on Cayman Island. The Binance trading platform is also suitable for day traders because of its low trading commission of 0.10% per slide. Also, if you find yourself trading larger amounts throughout the month, Binance will reduce your trading commission. Binance offers a 25% reduction in commission for traders paying their fees with BNB.
Features
Advertisement
- Supports a wide range of cryptocurrencies for trading.
- Traders have a reduction in commission when they use the platform coin.
Conclusion
Figuring out the best for crypto day trading platforms can be challenging, considering not having enough crypto exchanges. However, you should be able to discover the platforms that meet your demands after going through our list of best crypto day trading platforms for day trading.
READ ALSO:
AIB Group Stock Price Forecast – Where And How To Buy The AIB Group stock
Glennon Insurance Brokers Review – Pros And Cons Of Glennon Insurance Brokers
10 Fastest-Growing Stocks To Buy In 2022 – [ Stock Market]
Top 10 Best Car Insurance Companies In USA
Advertisement