People trade crypto by buying and selling digital currencies throughout the day. You often have to open a position and check to end it with a slight gain just a few hours or even minutes later.
Finding the best crypto exchanges for day trading can be challenging considering the currently available exchanges. However, by going through this list of the best crypto exchanges for day trading and some vital information about how this Exchanges works in this guide, it will be easier to find the one that best suits your needs.
What Is Crypto Day Trading?
Crypto day trading is the process of purchasing and selling cryptocurrencies on the same day. It is a strategy employed to make profits from price fluctuations in the market. To do this, traders deliberate on the future price of a cryptocurrency and purchase it if they believe its price will go up or sell it if they think its price will drop.
Crypto day trading is profitable if done correctly, but it is also risky and stressful. With this in mind, it’s essential to do your research before you start trading and choose the best crypto Exchange for day trading that best suits your needs.
When reviewing the best crypto Exchange for day trading, we consider some criteria: affordable fees and commissions, many supported markets, and access to investment tools and features. We also consider a day trading crypto exchange that offers a safe and secure environment.
Taking this into account, the best crypto Exchanges for day trading are discussed in the sections below.
Bitstamp is highly regarded within the crypto-trading scene. The crypto exchange provides to over 4 million customers worldwide and offers over 50 different cryptocurrencies for users to trade. One of the vital things to bear in mind when choosing crypto exchanges for day trading is low fees, and Bitstamp certainly meets this criterion. The least trade amount for BTC-denominated assets is only 0.0002 BTC, making Bitstamp one of the best crypto exchanges for day trading. While funding your account, Bitstamp allows you to deposit ACH with no deposit fees.
Crypto.com is a chief global player as far as exchanges are concerned. It supports over 100 cryptocurrencies, making it suitable for anyone investing in altcoins before the masses. Crypto.com also offers some unique characteristics that few other cryptocurrency exchanges can equal. Users can trade options and futures contracts, earn interest by staking their coins, and make trades when they feel particularly confident in a coin. Crypto.com has invested enormous money into its platform security, which makes trading with them highly safe.
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CoinSmart is the best in the business. CoinSmart’s trading fees are low at 0.20%. They offer excellent customer support by phone, live chat, and email, and user accounts are verified instantly. Most crypto exchanges require users to trade every altcoin first with a stablecoin, and CoinSmart allows users to trade altcoins directly, reducing fees and increasing their profits. Because you are buying real crypto, you can move your crypto on and off the exchange whenever you want.
Binance is an international crypto exchange that currently serves as the world’s largest crypto trading platform by volume of daily trading, making it one of the best crypto exchanges for day trading. It began to function in 2017 and is now headquartered in the Cayman Islands. It has several notable characteristics, including powerful charting tools, access to the Binance Earn feature, and Binance Visa Card.
Kraken is a cryptocurrency exchange and bank initially founded in 2011. It’s located in the United, and it enables you to trade fiat currencies like USD for cryptocurrencies and vice-versa. It also allows you to trade one type of cryptocurrency for another.
The crypto exchange provides price data for digital assets to the Bloomberg Terminal, and you can create an account through the exchange anywhere in the world except for Cuba, Iran, and North Korea, making it one of the more global exchanges today.