Top 10 Best Crypto Trading Platforms

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Cryptocurrency made the leap from being a niche concept to something actually reshaping the financial industry. Plus, the unprecedented growth of most coins in 2021 suggests that crypto is here to stay. This is why more people are coming to the market, and more trading services start to pop up.

If you’re thinking of entering the crypto trading space, we’d like to help you find the best crypto trading platform. We’ve reviewed ten services and detailed everything you need to know about them. Our team dug deep and found great platforms, some of which handle huge transaction volumes and some of which are less mentionable hidden gems.

What Is a Crypto Trading Platform?

Crypto trading platforms facilitate the online interchange of a digital currency for another. These services also enable the exchange to fiat-to-crypto and vice versa.

There are various kinds of crypto trading sites, and not all of them operate on the same basis. You’ll see the differences as we go through the best services one by one. But for an easier understanding, think of it as an all-in-one solution where you can deal in one currency against other currencies. And during the trade, you’ll be charged a little percentage payment for platform usage.

Best Crypto Trading Platforms: Our Curated List

The crypto market is heating up and getting more competitive. And you might have heard horror stories of hackers swindling traders of their gains. Putting the two and two together, it’s very hard to know who you can trust with your crypto funds. This is where we come to help.

Without further ado, let’s find out the best platform to trade cryptocurrency, or, even more interestingly, top 10 platforms!

Binance

Binance is a leading cryptocurrency exchange that exploded onto the scene in the mania of 2017. As stated on the website, they operate the world’s “biggest Bitcoin exchange and altcoin crypto exchange by volume”. This fact alone deserves some attention from prospective traders.

On average, the exchange settles more than USD 2 billion and has over 15 million users globally. Also, Binance has a suite of related products, such as Binance US, DEX, JEX, Futures, Launchpad, and many more.
Binance main page

Important features:

  • Spot and margin trading - Spot trading refers to the regular purchase or sale of crypto assets, which is a straightforward procedure. Margin trading, on the other hand, introduces the possibility of increasing a trader's initial investment through borrowed funds. You can choose whatever option seems more suitable.
  • Different tiers of difficulty - There are three types of interface: Basic, Classic, and Advanced. These trading screens have different order book styles plus margin, peer-to-peer, and OTC trading options. Experienced traders can choose the Advanced mode to benefit from having more information shown on a single page.
  • Quick matching engine - According to Binance’swhitepaper, the engine is capable of handling 1,400,000 orders/second. This is a very impressive result compared to other platforms. Thus, there is practically no risk of an order getting stuck with no takers.
  • Social trading - This feature facilitates the idea of learning about unique trading strategies and sharing information across the community. Users can choose carefully selected crypto traders with verified track records and keep track of their actions and portfolio.
  • Binance Finance - A financial product suite by Binance supports staking, crypto lending, and other ways of making passive income from crypto assets.

Binance operates on a maker-taker fee structure and charges a 0.1% commission from all trades placed on the platform. These fees apply to both spot trading and margin trading. If you use Binance Coin (BNB), you can get a discount of up to 25%.

Check three out of many positive reviews from TrustPilot, highlighting some of the best features of the platform.
Binance review 1
Binance review 2
Binance review 3

Binance is known for the range of supported currencies, including, but not limited to, Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, Dash, Litecoin, NEO, Zcash, Dash, Ripple, and more.

The multi-platform support is provided by the access via the web platform, desktop clients for macOS, Windows, and Linux, and mobile apps for Android (including Android APK) and iOS.

Pros

Cons

  • Great for experienced traders
  • Rapidly growing platform
  • More than 180 cryptocurrencies available
  • Multiple accounts on the same exchange
  • Low transaction fee, even less for BNB
  • Multilingual support (English, Spanish, Italian, Chinese, Japanese, Korean)
  • Not ideal for beginners
  • Mediocre customer support

Binance is great for people with active trading strategies and that aren’t afraid to use technical tools. While there are modes for less-experienced traders, Binance excels at advanced features the most. Neither the basic nor the advanced versions are suitable for complete beginners.

PrimeXBT

Prime XBT offers a powerful platform loaded with essential trader tools. According to the company statement, their goal is to equip users with the basic tools for daily trading activities. In other words, it aims to provide a smooth introduction into crypto trading without overcomplicating the process for newbies.
PrimeXBT main page

Important features:

  • One-click trading - By activating the One-Click setting, users allow orders to be placed immediately without them being displayed in a confirmation window. This significantly speeds up the process. In contrast, the default setting requires traders to check the order before sending.
  • Turbo platform - This mode allows traders to open long and short positions for one of three fixed time periods: 30 seconds, 1 minute, and 5 minutes. It simultaneously limits the profit potential and reduces the risks. This targets crypto enthusiasts as there is only one basic chart type and has no indicators or analysis tools.
  • Multiple order types - Users are offered flexibility on how to enter trades. It’s particularly important to use protection offers available in the Order Form. A stop-loss to limit an investor's loss and take-profit to lick profits.
  • Covesting integration - This is a type of social trading so you can view and replicate the actions of seasoned traders. Potentially, it can help users generate the same returns. There is no limit on the number of strategies to follow. But it’s not advised to fully rely on other traders’ actions at all times.
  • Real-time risk management - The platform performs full risk checks after every order. As a result, the PrimeXBT risk management department places restrictions that depend on instrument liquidity, volatility, and other market conditions.

Below are two short but informative reviews. The overall sentiment from real users is a resounding “highly recommend”

PrimeXBT review 1
PrimeXBT review 2

The software support five crypto assets that are kept in a secure offline environment:

  • BTC
  • ETH
  • LTC
  • XRP
  • EOS

PrimeXBT has some of the lowest fees in the niche. For example, for a BTC/USD currency pair, the trading fee is 0.05%, the long and short positions are charged at -$3.9 per 1 BTC. Or ETH/USD is set at a 0.05% fee and -$0.13 per 1 ETH for holding positions.

Pros

Cons

  • Sophisticated yet user-friendly trading platform
  • Low trading fees
  • Many technical analysis tools
  • Plenty of leverage for customers
  • Quick account opening process
  • Trading blog
  • No services for clients from the US, Canada, and some other countries
  • Limited selection of crypto assets

PrimeXBT can definitely benefit from adding more trading instruments, educational materials, and a contact telephone number. Still. It doesn’t take away from all the advantages the service offers. The trading platform is easy to use, so it’s a solid offering for traders with different skill levels.

eToro

eToro is a multi-asset brokerage that has made its name through its social investing platform. Users who aren't well-versed in crypto can access premade portfolios or cryptocurrencies, similar to services offered by robo-advisors through traditional brokers. Now, eToro reportedly has more than 13 million users in 140 countries worldwide.
eToro main page

Important features:

  • Advanced charting - Traders can choose from 70 technical indicators that can be saved. This helps save time as users don’t need to set up their indicators time and again. And the ProCharts feature allows users to display multiple charts and access several charting tools for technical analysis at once.
  • Social media-like dashboard - To make it in crypto, you need to know where people stand. eToro’s dashboard facilitates communication between traders and allows them to see what others think about a certain coin. For this, you need to click on the asset, and all relevant information will be displayed.
  • Crypto CFDs - While you can buy cryptos outright, you can take a position without owning the underlying asset. CFDs are particularly appealing for short-term traders. However, only platinum clients can trade CFD leveraged positions.
  • Watchlist management - The coin watchlists are available through the eToro app. This allows users to view real-time data and charting tools, browse the cryptocurrencies they’re already trading on the desktop platform, and create new watchlists. Custom email and SMS alerts are also available.
  • Digital wallet - EToro provides a digital multi-signature wallet for iOS and Android. The conversion fee from fiat to crypto and vice versa is 5%, which is slightly higher than usual. The minimum transaction is $125, and the maximum limit is $10,000.

If you’re interested to know about real-life experiences with Etoro, we found some accounts that shared their opinions on it.

eToro review 1
eToro review 2
eToro review 3

Currently, eToro supports the purchase and sale of 15 coins. In addition to the standard popular currencies, you’ll also find:

  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • MIOTA (IOTA)
  • Stellar Lumens (XLM)
  • TRON (TRX)
  • Zcash (ZEC)
  • Tezos (XTZ)

What is unusual about eToro, and not in a good way, is the inactivity fee. After a year of inactivity, the account will be charged $10/month. So, you need to be strategic about your trading activity to avoid getting unnecessarily charged. For purchasing crypto, the minimum buy order value is $25. And to access the CopyPortfolio feature, the investment must be at least $2,000.

Pros

Cons

  • User-friendly
  • Highly regulated and licensed
  • A variety of crypto coins and tokens to choose from
  • Multi-platform support
  • Fixed payment from eToro if the account is copied
  • Virtual portfolios with 100,000 paper-money dollars
  • High non-trading fees
  • Only one account base currency

What can make eToro the best cryptocurrency trading platform? It’s a one-stop-shop for all investing needs with no specific skill level in mind. There are some downsides like additional expenses, but overall, the software does its job efficiently.

3Commas

3Commas is a trading software that provides a wide range of useful tools. The service is advertised to help anyone interested in adding automated trading to their cryptocurrency trading protocols. They are partners with major exchanges and facilitate smooth fiat-to-crypto and crypto-to-crypto exchanges.
3Commas main page

Important features:

  • All-in-one dashboard - You can access multiple features in one dashboard, such as indicators and charting tools, stop-loss, take-profit, trailing stop, conditional orders, etc. Simply put, you don’t need to have several windows open to complete all trading activities.
  • SmartTrade - This gives you a birds-eye view of your most utilized exchanges. You can switch between several exchanges in two clicks without having to sign in each time separately. And the Smart Cover feature makes it possible to sell an asset during anticipated price pullbacks and then re-buy it.
  • TradingView cryptocurrency signal finder - The engine scans the cryptocurrency trading markets looking for potential profit signals. The result will be Buy, Strong Buy, Sell, or Strongly Sell signals. The specifics are determined by the TradingView algorithm.
  • Trading signals marketplace - If you’re not quite confident to go solo on, 3Commas offers signals and bot setups for purchase. For each, you can see historical trading results and understand the consistency of profits from each tool - some setups are riskier than others. The prices on the marketplace vary.
  • Trader’s diary - Traders get to keep an updated report that consolidates all the previous transactions made from the account. There is a brief report over a specified time period for those who don't want to go through these transactions one by one.

Here are some praising comments as well as some criticism that you probably want to know about.

3Commas review 1
3Commas review 2
3Commas review 3

3Commas has three pricing tiers: Starter, Advanced, Pro. The biggest difference is simple bots only become available from the second tier. Features like complex bot and portfolio management are only offered in the Pro plan for a monthly fee.

Members get access to the 3Commas trading school, which includes all functionalities of the platform, four courses covering crypto basics, trading strategies, and guides on how to build a trading bot. Plus, there is an active learning community where fellow traders can discuss ideas.

Pros

Cons

  • Access to crypto exchanges in one place
  • Manual and automated trading options
  • Library of bots
  • Open-source 3Commas APIs
  • Integrates with TradingView
  • Education and learning tools
  • Onboarding process can be overwhelming
  • Automated bots only available in Advanced and Pro plans

While the smart trading features and intuitive dashboard are all targeted at manual trading, 3Commas is best suited to aspiring bot traders. But some of the bots can be difficult to use, especially for new traders, so it’s best to approach the service with some understanding of the topic.

Libertex

Libertex is a platform offering a simple way to trade on the value of a massive number of cryptocurrencies. It has managed to amass a lot of clients worldwide and a strong presence in 110 countries. One of the main attractions of Libertex is the ability to trade without paying any spreads.
Libertex main page

Important features:

  • Awarded proprietary trading platform - It is available as both a web-trader and a mobile version and supports third-party add-ons, such as the Trading Central MT4 plugin. Libertex even won Trading Platform of the Year 2020, as awarded by financial magazine EuropeanCEO.
  • Fundamental and technical trading tools - The platform integrates multiple tools for crypto analysis, including a real-time news feed, market sentiment indicator, and market participant sentiment index. This helps spot market moves at the right moment.
  • Discounts based on trading levels - The platform endorses larger funded accounts and gives them a higher status level with bigger discounts. These tiers range from the Gold level, $250 min. deposit, a trading commission discount of 3% to VIP level, $5,000 min. deposit, a discount of 30%. Also, commissions vary depending on whether users trade on the proprietary platform.
  • Promotions - Newcomers get 100% of their first deposit as a bonus. As stated on their Promotions page, the more you trade, the faster the bonus converts into real money.
  • Unique offerings - We wanted to include a separate category for features like extended leverage for professional clients, the list of top 10 performing instruments of the day, and a series of over 30 video lessons on their website.

Here are a few seemingly inexperienced traders that have tried using Libertex.

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Libertex review 2
Libertex review 3

The fees for digital currencies, which are considered higher-risk markets, can be as high as 2.5%, which is huge. However, more liquid pairs (e.g., BTC/USD) have lower fees, sometimes less than 0.5%.

But there are two types of additional fees that users should be aware of:
  • Overnight finance: These are swap fees for keeping ht prepositions open.
  • Inactivity fee: If there are no trading actions in 180 days or the account has less than $10,000, the fee is $10/month. It is deducted automatically from the account balance.

Libertex offers a selection of 40 crypto coin pairs, including major ones like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.

Pros

Cons

  • Vast experience within the industry
  • Different options for trading terminals
  • Zero spreads on all accounts
  • 50% discount on commissions for new members
  • Multi-language support
  • Efficient customer service
  • Limited amount of educational resources
  • Restricted leverage

Libertex is a great choice if you’re planning to become an active trader. There are plenty of tools to support implementing and building usable strategies on very favorable terms. For casual traders, the fees might become overwhelming.

BitQS

BitQS is a cryptocurrency trading system that targets newer members of the crypto community. The reason is that it doesn’t overcomplicate the trading process. As a user, you still need to have some knowledge of the market and some terminology, but you won’t be required to do most of the work.

The BitQS platform handles your assets automatically based on the trading settings set by you. The underlying algorithm scans the market for potentially profitable trade signals. In fact, there are about 200 algorithms that guide the trading decisions, all working at the same time to gauge each trading session accurately.

The algorithmic feature serves multiple purposes, including:
  • Following trade patterns;
  • Conducting technical analysis;
  • Scanning global financial news.
BitQS main page

Important features:

  • Demo trading - Demo trading is the best way to practice and get to know all the features offered by the platform. You will be able to gain valuable insights before investing your real money. It’s free and not limited in time or virtual funds.
  • Live trading - When the user is confident, they can switch to live trading. After setting account parameters and configuring the settings, the bot will be ready to hit the trading session.
  • Real-time analytics - The bot forecasts the crypto prices, indicates the best exchanges and possible amount of profit from certain positions. Once again, it’s a fully automatic trading medium.
  • Close cooperation with a broker - Once you join the BitQS trading community, you’ll be paired with a broker. It doesn’t give you any guarantees but being paired with a regulated and licensed broker is definitely a plus.
  • Quick, anonymous registration - To sign up, you need to fill out the registration form, click the link inside the verification email and create a user ID and password. You don’t need to state your name, address, or any personal information.

Take a look at these customer reviews and see whether you’re looking for the same thing in a trading platform.

BitQS review 1
BitQS review 2
BitQS review 3

As you can probably tell, the biggest appeal of the platform is the combination of algorithms and artificial intelligence. Compared to manual trading, it’s a more convenient way to enter the market - you don’t need to oversee it yourself. However, the bot can still make mistakes, so it’s not completely risk-free.

Pros

Cons

  • Recognized by International Trading Association as one of the best trading software
  • Free demo account
  • Multi-language support (EN, ES, FR, DE, IT, NL)
  • 24-hour withdrawals
  • Account manager and responsive customer service
  • No requirement for ID or bank statement
  • Only four trading pairs (Bitcoin, Ethereum, Ripple, Litecoin)
  • Limited information about founders

Another thing worth pointing out is customer service. Some reviewers noted that they’d been facing some technical difficulties and contacted BitQS customer support. The specialists were very quick to respond. Overall, the service is very useful for beginners that aren’t quite confident in their trading abilities.

Bitcoin Era

The next one competing for the ranking title of the best platform to trade cryptocurrency is Bitcoin Era. It is a trading software that processes the fluctuating crypto market data and generates trade signals. The service hasn’t been on the market for a long time, but the technologies behind it have shown great results so far.

Bitcoin Era main page

Important features:

  • Market analysis - Supposedly, the accuracy of the trading bot is in the upper 90% range. Bear in mind that the crypto market is highly volatile (compared to the stock market), so some trades slip through the cracks. But overall, the bot shows great performance over time.
  • Range of strategies - The platform provides many strategies as per the risk profile of the client. So, you don’t have to if you want to minimize risks, you can change the trading settings based on your preferences.
  • Robust security measures - Bitcoin Era hasn’t experienced any breaches or leaks. Considering the fact the crypto services are constant targets of cybercriminals, users will be very glad to hear that the funds are safe.
  • Practice account - Those who haven’t been exposed to the trading world before will appreciate the practice account. Here, you’ll be trading with virtual credits for as long as you need.

Despite what the name might suggest, the list of cryptocurrencies in Bitcoin Era is not limited to BTC alone. The list of available cryptocurrencies consists of:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • EOS (EOS)
  • Dash (DASH)
  • IOTA (MIOTA)

As for the trading bot, the list of supported pairs is much shorter: BTC/USD and BTC/EUR. While the range is small, you shouldn’t be discouraged - these two trading pairs are by far the most exciting areas of the crypto market.

Here are several reviews to give you a further idea of the platform.
Bitcoin Era-review 1
Bitcoin Era review 2
Bitcoin Era review 3

Some users claim that their daily profits reached as much as $900 in one session. It’s impossible to verify that information, but it’s still a good sign. The more people share their experiences, the more data you have to make the right decision.

Pros

Cons

  • Beginner-friendly
  • Customizable settings for automated trading
  • No hidden charges
  • Easy to navigate
  • Programmed for fast transactions
  • Registration key in a few minutes
  • Ambiguous information about awards
  • No dedicated mobile app (but optimized)

The website warns about using leverage. Even though it can potentially bring bigger gains, it should be exercised with caution. This is mainly due to the fact that the bot is operating without human intervention - users don’t have full control over trading activities.

Crypto Engine

Crypto Engine was created in 2018 and paved its way through the competitive and highly lucrative industry. This trading software discovers small fluctuations and trends in the crypto market via constant monitoring. The bot helps avoid human error and continues to learn based on its past decisions and actions.
Crypto Engine main page

Important features:

  • High-frequency scalping - This is a very intense strategy that is hard to perform about a bot. It typically implies looking to capture an average of between 1/2 to 1 tick per trade. Much effort is expended on mitigating latency and achieving an acceptable fill rate.
  • Partnership with reliable brokers - Crypto Engine works with brokers that are affiliated with some of the strictest licensing bodies, such as the Financial Conduct Authority (FCA), the Australian Securities and Investment Commission (ASIC), and the Financial Service Board (FSB). This ensures that there are some guarantees in place to protect existing deposits in the event of a market crash or bankruptcy.
  • Leveraged trading - Potentially, the leverage can reach as high as 1:5000. In other words, it means that users can take positions that are 5000 times bigger than the investment. Trading with such high leverage can be risky to use this feature in moderation.
  • Negative balance security - This type of protection ensures that traders with long positions won’t end up losing more than they own. Even if markets move rapidly against a trade, the user’s account will not be negative. A margin call that automatically closes falling open positions is crucial for highly volatile markets.

The platform prioritizes altcoin support, so you’ll find not only big industry names but also smaller coins. Just to name a few, you can trade Ethereum, Bitcoin Gold, Monero, ZCash, Golem, Lisk, Ripple, and Status.

Below are a couple of reviews we’ve taken from TrustPilot.

Crypto Engine review 1
Crypto Engine review 2

If you want to be extra confident in the bot, try to spend about 20-30 minutes a say supervising it. This way, you will catch the right moment to adjust the parameters. Alternatively, as we mentioned, you can set a stop loss to close the position before it’s too late.

Pros

Cons

  • Hassle-free
  • Multiple payment methods
  • Partnered with regulated brokers
  • Support lesser-known altcoins
  • Runs on Artificial Intelligence, DL, and ML
  • Unavailable in some countries
  • Might be too simplistic for experienced traders

Fundamentally, Crypto Engine was designed with traders in mind. By improving the bot under different trading conditions, developers managed to build an agile bot. The stated efficiency is very high, but it's best to test the demo mode's functionality before investing.

Profit Bitcoin

With an estimated win-rate of 92%, Profit Bitcoin had to be on this list. The platform employs an innovative multiplex method to detect market trends and executes trades that meet the conditions specified by the trader. Any strategy that does not work as planned can be replaced or tweaked.

The team behind Profit Bitcoin reportedly consists of crypto traders, software engineers, and business analysts with plenty of experience in the industry. The website even shares a story of how they initially teamed up to create a bot for themselves. But after finding huge success, they decided to make it public.

Profit Bitcoin main page

Important features:

  • Marginal response advantage - We’ve all been warned by the rapidly changing prices in the crypto market. Bitcoin Profit monitors these changes in a fraction of a second. Such precision ensures that positions will be entered and exited at the right time.
  • Integrated financial tools - Users have all the financial and trading tools that are already built into the platform. Notably, the lightning-quick backtesting tool helps run trading operations with reduced downtime. Again, essential for opening and closing positions by the algorithm.
  • Trading with minimal supervision - This real-time, cross-asset solution doesn’t require any prior knowledge or experience of crypto trading. Of course, you should go into this activity blindly. But the appeal is that you’ll be able to learn without leaving the software.
  • Corroborative effort to enhance algorithms - The trading algorithm is constantly updated and improved. To put it simply, it learns from its own mistakes to maximize the chances of outperforming the market.

Some of the most popular trading pairs are:

  • BTC/USD
  • XRP/USD
  • LTC/USD
  • ETH/USD

As per usual, let’s see what real traders think about this software.

Profit Bitcoin review 1
Profit Bitcoin review 2

Profit Bitcoin doesn’t charge users for opening and maintaining accounts (including deposits and withdrawals), but technically, it’s not commission-free. The service discloses that it charges a commission on the profit you make. The fee is deducted automatically from your account.

Pros

Cons

  • High earning potential
  • Transparent fee structure
  • 24/7 customer support
  • Created by a skilled team
  • Requires minimum time and effort to operate
  • Education and learning tools
  • May take up to 48 hours to withdraw funds
  • No mobile application

Similar to other platforms on the list, there are demo and live trading modes. This means that testing the functionality and efficiency of Profit Bitcoin can be done in a safe environment. If you have a question or concern, feel free to get in touch with the customer support team.

Bitcoin Trader

The final service that can be considered the best trading platform for cryptocurrency trading, or at least one of them, is Bitcoin Trader. In line with several other honorable mentions in this article, this system allows everyday people to become a part of the crypto trading community.

Bitcoin Trader works via an already familiar system. It removes the painful process of analyzing trends and patterns and entering and exiting positions on time and does it for you. According to the website and user reviews, it is designed for a high return on investment and has a win-rate of 93%.

Bitcoin Trader main page

Important features:

  • Simplicity and flexibility - Bitcoin Trader’s interface has a simple and easy-to-understand graph (but you should know how to read basic charts). It also features the functionality to keep track of open trades and make adjustments on the go. Don’t let it run completely independently and make no-code tweaks.
  • Trading signals - The software can perform trades on your behalf based on the trading signals it receives. These signals are often generated by technical analyses or a group of experienced traders providing their insights. So, it’s not all AI, there is human expertise involved.
  • All-in-one dashboard - All the tools you’ll need are integrated into one dashboard with several tabs. From this dashboard, you can make deposits, request withdrawals, see all your open trades, history of closed trades, charts, trading parameters, etc.
  • Privacy shield - This is a framework for protecting personal data for commercial purposes. Companies that participate in this program are deemed as having adequate protection and don't facilitate user information transfer for any purpose.

This is what traders that have tried this platform have to say.

Bitcoin Trader review 1
Bitcoin Trader review 2

If you don’t have an account yet, you should know that the entire registration process takes 20-25 minutes from start to finish. You won’t need to deal with paperwork or long forms. In fact, the information you do need to provide will take a few minutes to enter. You’ll only need to wait for a verification email. Once it’s done, you can place trades right away.

Pros

Cons

  • Very easy to navigate
  • Positive online reviews
  • Easy deposit and withdrawal system
  • Readily accessible technical assistance
  • Limited cryptocurrency selection
  • Some claims are hard to prove

The service claims to facilitate consistent profits. It doesn’t mean that traders don’t experience any losses, it is simply impossible. But the testimonials suggest numerous users are making passive income with the platform. For more information, you can contact the helpdesk at any time.

How to Choose a Crypto Trading Platform in 2021: Tips and Main Criteria

Even though you now have our expert recommendations for the best crypto trading platforms, you should know what to consider when choosing one. There is inherently a degree of trading risk, so you want to minimize it by connecting to a reliable service.

Below are essential factors that you should assess right off the bat.

Reputation

This type of trading and investing is still comparatively new, and there is a lot of apprehension around it. But even if a platform hasn’t been on the market for a long time, you can still find information on it.

Research the platform’s founders, their backgrounds, read the terms and conditions, look at their social media, and simply read articles and news snippets with the platform’s name mentioned. At this point, you don’t need to register - here, you’re letting Google do the work.

One crucial and reliable source of information in terms of reputation and transparency is customer reviews. Type in the platform on TrustPilot, for example, and see first-hand experiences. Obviously, you want to find overwhelmingly positive reviews. But if you do find the negative ones, it’s up to you to decide whether the criticism is serious enough to turn you away.

Fees

The fees aren’t a bad thing. They help drive innovation, bring better features, and ensure smooth operation of the platform overall. So, don’t be discouraged if you see some sort of fees.

What’s more important is to look at the fee structure and all fees charged. Some platforms have tiered structures, where fees are lowered as the transaction volume increases. However, this ultimately depends on your planned activity:

  • If you intend to day trade at the platform, you don’t want high transaction fees.
  • On the other hand, if you’re looking for a long-term investment, these wouldn’t bother you as much.

Try to uncover all costs or commissions for different actions, both trading and non-trading. For example, a platform may charge high fees for depositing fiat currency but have better conditions for crypto coins. Reliable platforms don’t have anything to hide - everything should be laid out on the website.

Security

Practically all traders do it with the goal of growing their funds - if the platform can’t keep them safe, there is no point in using it. One of the main selling points of crypto, in general, is security and anonymity. And a crypto trading platform should support these values as well.

Look at authentication, encryption, privacy policy, coin storage, server security, and more. It’s important to understand that some security risks can’t be complete;y mitigated. But it definitely helps if the platform processes large transaction volumes every day without incidents.

When you sign up, there shouldn’t be any requirement to reveal personal information. Every transaction that takes place on the blockchain can be traced back to the address without your identity exposed. The platform doesn’t need to ask anything about your identity because it connects users directly in order to place and fill orders.

Trading Features

Choose a platform that corresponds to your trading situation at the moment. Sure, you want to have room for growth, but you also want to pay for the functionality you can actually use.

First of all, look at the basic features, such as the kind of trading orders it supports, available cryptocurrencies, availability of automated trading, etc. For beginners, it’s best to start with something simpler. Test how many functions you are going to use - if it’s a minuscule percentage, it’s not worth it. As you learn more about trading, you’ll be able to handle more.

If you’re already an experienced trader, a sophisticated platform will be a better choice. You probably already know what specific features you’re looking for. Therefore, it might even be an easier pick.

Asset Prices

If you’re completely new to trading, you might not know that different platforms offer different asset prices. It’s very easy to assess. Just pick one asset and compare its price on the platforms you’re considering. These discrepancies are important to understand which platform is prone to volume loss and low liquidity.

The primary explanation in ranging prices across different platforms is the fact that there is no standard price on any crypto. As a decentralized digital currency, it’s not tied to any fiat currency, country, or exchange. Different platforms may have different levels of supply and demand, so the prices fluctuate as a result.

UI and Ease of Use

Design and usability can make a big difference in how successfully you can navigate the crypto market. Especially if you’re a beginner, a poorly designed interface can cost you real money. In this case, a basic or intuitive design is your best choice. All the charts and orders are complicated as is, and you don’t want to be confused any further.

For more experienced users, a more complex interface is acceptable. There is not as much risk to click the wrong button or open the wrong chart. The main idea is to pick a platform where you can understand and efficiently use all the buttons and options.

Final Thoughts

Our list covers top cryptocurrency trading platforms but keep in mind that there are many ways to go about trading Bitcoin or other cryptocurrencies. Start by understanding your goals. Goals offer direction and something to aim for when choosing a platform.

For example, some want to get into the nitty-gritty details of trading, such as developing custom strategies. This means there is a greater emphasis on the trading features and customization of the platform. Others want a casual, effortless type of trading, perhaps automated. These traders will be looking for easy-to-understand interfaces and bots with high profitability rates.

The bottom line is that crypto trading is suitable for traders of all skill levels. You just need to find the right platform that meets your personal needs. Look through descriptions of suggested platforms and choosing criteria, and take your pick. It’s high time to get into crypto trading - don’t waste this lucrative opportunity!

FAQ

Answers to the most buzzing questions are down below.

What's the Best Crypto Trading Platform?

Would it be so convenient if such a thing existed? In reality, there are many high-quality platforms, and we went into great detail about them in this article - from Binance to Bitcoin Trader. Any of them can become the best for different types of traders. To find out, check the demo versions of each platform.

Which Crypto Exchange Has the Lowest Fees?

Platforms operate in different fee structures, tiered, maker-taker, only for some trading or non-trading activities. Out of the platforms featured on our list, Prime XBT and BitQS are definitely worth mentioning.

Which Crypto Exchange Is the Safest?

All platforms listed employ robust security procedures and protocols. But these websites and applications may have different approaches. For example, Binance has recently strengthened its security and created SAFU (Secure Asset Fund for Users), which is set aside from fees for compensation settlements. Libertex doesn’t have such measures in place, but it does emphasize encrypted SSL certificates to protect personal data.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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