Best Crypto trading platform
Increasing interest in cryptocurrency trading is not enough. You need to know the best place to trade cryptocurrencies efficiently. Important considerations in this regard should center on how much the platform charges, which markets it supports, and whether or not the provider can be trusted.
Therefore, in this guide, we will discuss the best crypto trading platforms for you to consider and how to get started with an account in less than 5 minutes.
Best Crypto Trading Platforms in the Market - Quick Overview
Below is an overview of the best cryptocurrency trading platforms currently available
in the market, according to our detailed research.
eToro - Overall Best Crypto Trading Platform
Capital.com - The leading crypto trading platform for CFDs at 0% commission
AvaTrade - Excellent cryptocurrency trading platform for technical analysis
Best crypto trading platforms in the market review
If you are looking for the best crypto trading platform with which you can buy and
sell digital currencies – we have reviewed the top providers below. We looked at
the most important metrics like affordability, supported markets, ease of use,
security, and more.
Overall Best Crypto Trading Platform
eToro is a leading and top-rated regulated broker that gives you access to arrange financial instruments and products including CFDs, stocks, ETFs, and of course –
cryptocurrencies. You can trade cryptocurrencies on this platform only on the basis of spreads. This means that you do not need to charge the commission charges payable on other platforms.
Essentially, eToro has a super low-fee structure, which is ideal regardless of your
skills or budget. Also, one of the major advantages of this broker is that you can get access to copy trading tools. This feature allows you to copy open positions of other experienced traders automatically and in real-time. So, if you need to enter cryptocurrency trading, this feature works perfectly for that purpose.
Another benefit of using eToro is the platform's support for multiple payment options. You can use debit/credit cards and various e-wallet options to make the payment. If you are not in a hurry, you can also use the bank transfer method to deposit into your trading account. Whichever method you use, know that you only need to make a minimum deposit of $ 200. However, you can start trading for as little as $ 25 per trade.
Furthermore, eToro is a top broker that gives you access to dozens of digital tokens. So, if you have evaluated a project, be it large or small, and you want to trade tokens, eToro may be the right place for you. This long list of digital tokens makes it easy to trade multiple crypto-assets and to diversify your portfolio where necessary. Furthermore, when you trade any of these tokens, you do so on a spread-only basis, making this the only fee that concerns you.
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Furthermore, trading can be challenging, especially if you are a beginner. eToro wants to help you with this burden by integrating 'social' features - where you can communicate with other traders. It helps you learn and gain more insights on multiple tokens from different people. Additionally, eToro is a reliable broker that offers great protection on your funds - not least because it is regulated by the FCA, CySEC, and ASIC.
Trade dozens of crypto assets based on spreads only
Regulated by the FCA, CySEC, and ASIC – Approved also in the US
User-friendly platform and minimum crypto stake of only $25
2. Capital.com - Leading crypto trading platform for CFDs at 0% commission
Capital.com is another cryptocurrency broker that stands out for its amazing trading services. If you want to trade cryptocurrencies on a short-term basis then the broker deals with CFDs are best suited. This is because short-term trading means that you will be likely to open and close multiple positions throughout the day. Therefore, with CFDs, you can trade cryptocurrency pairs based on their value without taking ownership.
In addition, Capital.com is one such broker that is highly regulated by several major financial authorities, including the FCA. Being regulated means that this broker cannot engage in nefarious activities that put your interest at unprecedented risk. In addition, the platform gives you access to MetaTrader 4 (MT4). The platform also offers a mobile app that makes it easy to trade cryptocurrencies from anywhere.
The trading platform also supports a variety of CFD instruments, including many types of cryptocurrencies. This means you can trade both fiat-to-crypto pairs and crypto-to-crypto pairs on the platform.
That is, you can trade pairs like BTC/USD and ETH/USD on the one hand. On the other hand, you can also trade pairs like TRX/BTC and BTS/BTC, which makes it possible for you to choose the one that best suits your trading strategy.
Furthermore, Capital.com does not charge any commission when you are trading CFDs, which means that the only thing you need is the spread. It is a platform that also provides you with leverage when trading crypto CFDs. With respect to non-trading fees, you will not pay anything for depositing or withdrawing funds. Therefore, if you are just starting out looking for a low-cost crypto trading platform, Capital.com might be the right fit for you.
You should also consider the payment options supported by the broker to determine if it is one of the best crypto trading platforms out there. Capital.com checks this box, as the platform supports debit/credit cards, wire transfers, and multiple e-wallet options. Supported e-wallets include iDeal, Sofort, Giropay, ApplePay, AstropayTEF, and 2c2p - among others. For all of these payment options (except wire transfer), you can start with a minimum deposit of $20.
Easy to use trading platform for beginners
Regulated by the FCA and CySEC
0% commission, tight spreads, and $20 minimum deposit
3. Avatrade - Excellent cryptocurrency trading platform for technical analysis
AvaTrade is one of the best cryptocurrency trading platforms on the market. If you are looking to trade cryptocurrencies at a broker that makes your technical analysis experience seamless, AvaTrade is worth considering. The broker specializes in CFDs, which means that when you trade on the platform, you do not take ownership of the crypto tokens. Instead, you trade based on the underlying value of the asset, which is a huge advantage for short-term market participants.
AvaTrade differentiates itself in the market by providing you with access to technical analysis tools to help you make informed decisions. Many traders rely on these tools to determine when to open or close their positions. Although it takes some time to become familiar with technical analysis, learning how it works will take you one step further in the market. Therefore, if you are looking to trade crypto from an informed position, AvaTrade is a broker to consider.
Furthermore, with AvaTrade, you get access to multiple cryptocurrency markets, from where you can decide which one to trade. This makes it convenient for you to trade various digital tokens and diversify your portfolio. Furthermore, the broker allows you to go both long and short, making the platform suitable for a variety of trading strategies. When you consider it with the simple user interface of the platform, you will realize why it is one of the best.
As a spread-only trading platform, AvaTrade offers one of the lowest fee structures in the region. This means that when you trade, you do not need to pay commission fees like on other crypto platforms. Therefore, once you make enough profit from your trade to cover the difference between the buy and sell price, you are good to go. Plus, you don't incur any fees when you make deposits and withdrawals while trading with this crypto platform.
Another advantage of using AvaTrade is that it provides you with a demo account to practice crypto trading before getting started with real money. If you are a beginner looking to gain insight into the trading landscape, this is a feature that you can take advantage of. Apart from this, the broker also supports third-party platforms like MT4 and MT5. For all these reasons we consider this broker to be one of the best crypto trading platforms in the market.
Lots of technical indicators and trading tools
Free demo account to practice trading
No commission and heavily regulated
How to choose the best crypto trading platform for you
If you search for the best crypto trading platforms online, you will find a long list of options. This is because as the industry grows, cryptocurrency brokers continue to emerge. However, even with many brokers, choosing the right one can be difficult. This is because each trading platform calls its own “the best”.
As such, you should consider a few things when choosing the right trading platform for you and your financial goals. Here, we discuss the key things that you need to consider before making a choice.
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regulation
When evaluating the best crypto trading platform, one of the important things you want to consider is whether the broker is regulated. A regulated broker has higher credibility, especially if they are authorized by major financial authorities such as the FCA, CySEC, or ASIC.
Due to this regulation, regulated brokers are bound by certain guidelines and must operate according to their scope of operation.
An example of crypto trading platforms that fall into this category includes eToro, Capital.com, and AvaTrade.
eToro is regulated by CySEC, ASIC, and FCA, while AvaTrade is licensed in seven jurisdictions.
Capital.com is also regulated by CySEC and the FCA.
When you trade with these brokers, you enjoy some sort of security. For example, regulated brokers are mandated to keep their capital in a separate account from yours, which means you always have access to your money.
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fees and commissions
Cryptocurrency trading platforms have different fee structures. For many platforms, these fees are an important source of revenue for the broker. However, while some may charge higher fees for their services, it is not the same with all of them. This is why you need to evaluate the broker in terms of its fee structure before deciding further or otherwise.
In this regard, consider whether the platform charges inactivity, overnight, deposit, and withdrawal fees. Also, check whether you have to pay commission when trading with the platform, and if so, at what percentage.
When you buy and sell crypto, you also need to consider the spread you will be making. This is often overlooked by newcomers. But if you want to save yourself from this trouble, then you can resort to trading platforms like eToro. The broker allows you to trade in a cost-effective manner.
When you trade on the platform, apart from the broker's minimum deposit requirement, you do so only on a spread basis. This makes your crypto trades more profitable when you make a profit, as you don't lose all your earnings to exorbitant fees.
crypto market
The available crypto market on your selected trading platform is an important consideration. You don't want to sign up at a broker and go through the process of getting started only to realize that the platform doesn't have the crypto pair you want to trade. This can happen if you are looking to trade small-cap tokens that have not yet been listed.
Therefore, you always need to check the markets supported by crypto trading platforms. A good example here is Capital.com, as the platform supports a long list of cryptocurrency markets which is now over 200+ pairs. This includes various fiat-to-crypto and crypto-cross pairs in addition to DeFi tokens. So, if you're not sure where to get the coin you want to trade, you may want to check out Capital.com.
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payment options
The best crypto trading platforms give you multiple options for making deposits.
The best platforms support everything from debit/credit cards to e-wallets and wire transfers.
You will also need to check what the minimum deposit amount is for the payment method you have chosen. For example, while Capital.com allows you to deposit from just $20 when using a debit/credit card or e-wallet, the minimum goes up to $250 when you select Bank Wire.
Also, be sure to check what charges are applicable to the payment method you choose.
support for research
An important part of cryptocurrency trading is being able to accurately predict the future price of a token. To do this, you need to be able to adequately research projects and leverage technical analysis along with market indicators.
Therefore, when choosing a crypto trading platform, you may want to consider a broker that provides technical analysis and learning materials. This makes it easier for you to trade cryptocurrencies.
What is Cryptocurrency Trading?
In simple words, trading cryptocurrency means that you are buying and selling digital token pairs. Here, you measure the market and determine whether to place a buy or sell order on a token. When you do the former, you are predicting that the price of the token will rise soon.
For example, you can place a buy order for $4,000 on ETH/USD at a price of $300. After your stake reaches $4,500, you can decide to close the position and secure your profit.
Basically, when you trade a coin, you do it in pairs. That's why we have it in the form of ETH/USD. Another example is BTC/USD, which means you are trading bitcoin against the US dollar. It works similar to forex and the exchange rate of each pair changes depending on the market forces of demand and supply.
Therefore, your job as a cryptocurrency trader is to speculate on the movement of exchange rates. That is, they will go up or down. The interesting thing here is that you can trade crypto from the comfort of your home. Once you know the best crypto trading platform available, you are ready to go.
How cryptocurrency trading works
Now that you know the best brokers to use, you should consider having a deeper understanding of how cryptocurrency trading works. Trading crypto simply means making money by risking your financial gains.
That is to say, you are risking your money based on your expectation that the token being traded will increase or decrease in value.
Here's what you need to know about opening and closing positions on the best crypto trading platforms.
cryptocurrency pairs
As mentioned above, you trade crypto in pairs. Two assets in a pair will have an exchange rate that can change every second depending on the forces of demand and supply.This means that if there are more buyers in a pair, its price will go up. On the other hand, if there are multiple sellers in the pair, the price falls.
So your job as a trader is to take this exchange rate movement into account. This is how you make money by trading cryptocurrencies. There are two types of cryptocurrency pairs for online trading, they are:
Crypto to Fiat: Refers to a currency pair in which you own both crypto and fiat. In most cases, the fiat currency is the US dollar, and pairs in this range include ETH/USD and BTC/USD.
Crypto-cross: Refers to a currency pair in which two cryptocurrencies are exchanged for each other. For example, if you wanted to trade Maker against Bitcoin, the pair would be in the form of the MKR/BTC pair.
Although this type of currency pair is an alternative to cryptocurrencies, it can be difficult to trade. This is because you need to know how two different cryptocurrencies relate to each other in terms of price.
Therefore, if you are a beginner, you will want to stick to crypto-to-fiat pairs when using the best trading platforms, as they are easy to understand.
cryptocurrency trading order
After you choose the pair you intend to trade, you must set up an order that instructs the broker how you wish to enter the market. Essentially, you have to choose between placing a 'Buy' or 'Sell' order.
If you believe that the value of a cryptocurrency pair will increase, you place a 'buy order'.
On the other hand, if you believe that the value of a cryptocurrency pair will decrease, you place a 'sell order'.
In addition, you also need to decide what type of order you are going with. There are different types of orders in the crypto market – giving you a lot of flexibility. In most cases, you will have to choose between a 'limit' or a 'market' order.
If you have the desired price at which you want to enter the market, you should choose a 'limit order'.
However, if you want your trade to be executed immediately at the next available price, you will be able to use a 'market' order.
The order you type between the two will be based on your trading goals. If you want to trade short-term, it must mean that you have a certain entry price at which you want to enter the market. This way, you can open your trades at a specific price and exit when a certain price is reached.
So, in this case, using a limit order is your best option. As you can imagine, your limit order will not be operative until the coin reaches your set entry or exit price.
Strategies to use on the best crypto trading platforms
When you are learning about the best crypto trading platforms, you will want to understand the strategies that can make your journey using these brokers more fulfilling. Experienced crypto traders always have certain strategies they use to maximize their investments.
Therefore, if you want to make enough money by buying and selling a couple of cryptocurrencies, you need to know the best way. Here are some important strategies to consider when using the cryptocurrency trading platform of your choice.
Swing trading
This is one of the popular strategies in the cryptocurrency trading field. Swing trading is when you are looking for a cryptocurrency pair that is currently trending up or down in the market. So buy and sell such a pair and hold it as long as the orbit continues.
This strategy is suitable if you are a beginner who wants to make a profit in a convenient trading way. The good thing about swing trading is that you can keep your position open as long as the trend remains. This means that, unlike day trading, you have nothing to worry about if you leave a position open for more than 24 hours.
For example, let's say BTC/USD has a 'bullish' period. As a swing trader, you can buy the pair and keep your position open as long as the market moves in favor of the token. Eventually, this kind of bull run will come to an end. When you see that this is about to happen, you can close the position and secure your profit.
Taking advantage of a market correction
A market correction is inevitable in the cryptocurrency world. This is when a coin that has enjoyed an upward movement suddenly begins to see a decrease. This is why you need to understand how the cryptocurrency market works.
A token cannot continue to rise indefinitely when the market briefly moves in the opposite direction.
This means that a cryptocurrency pair like ETH/XRP could enjoy positive market movement for almost four weeks.
Then by the fifth week, the price of the token starts to decline.
This can happen for a number of reasons, one of which is that there may be more sellers than buyers in that fifth week. Now, here is where it gets interesting. A correction in the market does not mean that a cryptocurrency pair will be halved in value for a long time.
Therefore, when the price of a token is declining, it may be the right time to open a position on that pair. This way, when the coin finally starts moving upwards again, you can make a profit. Therefore, when doing an analysis on the best crypto trading platforms, you want to make sure that you monitor the market correction of various digital asset pairs.
Relative Strength Index (RSI) Indicator
As you become more experienced in cryptocurrency trading, the RSI indicator is one of the essential tools you may come across. The indicator gauges a token's price movements to determine whether it is overbought or oversold.
If a cryptocurrency pair is overbought, it is a sign that the price of the asset may decline. This is because, at some point, buyers are trying to capitalize on their profits - resulting in a slight downturn in the market.
Here, your best bet may be to trade the pair short-term and profit from the reversal of the market's momentum.
Alternatively, if the cryptocurrency pair is oversold according to the RSI, it could mean that more buyers are looking to open positions on the asset. In that case, you can make a quick entry on the token and exit after making a profit following a market reversal of the cryptocurrency pair.
3 Tips to Maximize Your Trades on the Best Crypto Trading Platform
In this guide, we have explained how to identify the best crypto trading platforms and how to use them effectively. By now, you must be aware that crypto trading requires some level of care and diligence. Therefore, it is wise to brush up on your knowledge before getting started on the best crypto trading platforms.
Take a Course in Cryptocurrency Trading
In the world of cryptocurrency trading, research is an important tool. Therefore, you should always read and learn about trading and digital asset pairs. One of the most effective ways to do this is by taking a cryptocurrency trading course.
Many of these courses are available online and you can choose to learn at your own pace. When it comes to cryptocurrency trading, taking these courses will give you different strategies and lessons.
Understand how to read charts
If you are investing in cryptocurrency on a long-term basis, you may not need to worry about reading charts. However, if you are looking to trade cryptocurrencies—which means you will open and close multiple positions to make a profit—you will need to become more familiar with price charts
practice first
The best crypto trading platforms will offer you a demo account to practice trading. This will simulate real-life trading conditions and allow you to gain an insight into how things work in the market. Therefore, if you are a beginner, it is imperative that you start with a demo account to get familiar with cryptocurrency trading.
Best Crypto Trading Platform – Verdict?
When you are learning to trade cryptocurrencies, you should consider the best platforms to do so. The best crypto trading platforms will provide you with cost-effective services on an easy-to-use interface.
Most importantly, your chosen platform should be regulated – which will ensure that your capital is protected at all times. This is the reason why eToro, Capital.com, and AvaTrade stand out as the best crypto trading platforms in the region.
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