Crypto has been one of the latest investment go-to’s these past couple of years, that’s why we don’t blame you if this trade gets you interested! But despite it being pretty popular for being accessible to all sorts of investors, this trade is pretty volatile–so trade at your own risk.
Apart from tedious risk management and trading strategies, a good trading platform is what will help you survive the world of cryptocurrency! This is because trading platforms are what connect you to the world of trade, basically, they act as a medium between traders and financial markets.
Trading platforms are what allow traders to buy and sell assets. And with a good trading platform, you can expect a better trading experience! So before jumping into the first trading platform that catches your eye, consider scouting for one that’s best for your chosen market.
And since you’re planning on investing in cryptocurrency, below is a list of great crypto trading platforms to consider!
1 – Binance
Among cryptocurrency exchanges, Binance is known as a worldwide leader due to its wide range of digital assets that can be traded, affordable costs for trading, advanced trading tools, and strong liquidity.
Binance has solidified its standing as a comprehensive platform for cryptocurrency lovers and traders by providing other services. You can expect other services to be: futures trading, staking, and savings accounts for earning interest on cryptocurrencies, in addition to its main trading features.
2 – Coinbase Pro
A safe trading environment is ensured by Coinbase Pro’s adherence to regulatory requirements and user-friendly interface. It supports a smaller selection of cryptocurrencies but offers affordable costs and plenty of liquidity to suit the needs of both experienced and newbie traders. Many different types of consumers continue to favour Coinbase Pro as their preferred platform for trading cryptocurrencies because of its user-centric approach and dedication to compliance.
3 – Gemini
The Winklevoss twins founded Gemini, which is a well-known cryptocurrency exchange with headquarters in the US. Gemini is well-known for its strong security measures, scrupulous adherence to rules, and user-friendly design. It places a high priority on user security and convenience.
Although the platform’s range of supported cryptocurrencies is fairly limited, it makes up for it with extra features like custody services and taking chances, which further strengthen its reputation as a reliable and all-inclusive cryptocurrency exchange option.
4 – Kraken
Another well-known cryptocurrency exchange Kraken is praised for its wide range of supported coins and attention to security. Its platform offers sophisticated trading features that are suitable for both new and seasoned traders, such as margin trading, futures trading, and staking options.
Furthermore, Kraken puts a high priority on security and regulatory compliance. To that end, it has put in place strong safeguards to protect user money and provide a secure trading environment, which has further cemented its standing as a reliable exchange platform.
5 – Bittrex
Reliability is something you can expect when trading using Bittrex! It’s a reputable cryptocurrency exchange that places a high priority on security and regulatory compliance. The platform accommodates a wide range of trading requirements with its extensive assortment of traded cryptocurrencies. To further attract traders looking for a safe and flexible trading environment, Bittrex also provides services like staking and over-the-counter (OTC) trading.
6 – Bitfinex
Another notable cryptocurrency exchange Bitfinex is set apart by its advanced trading tools, generous liquidity, and strong margin trading capabilities. The platform accommodates a wide range of trading preferences with its vast assortment of traded cryptocurrencies.
To further serve the requirements of both private and institutional traders, Bitfinex also provides a range of extra features, including financing services, choices for trading derivatives, and an API for algorithmic trading.
7 – MetaTrader 4
Last but not least is MT4! Because of its extensive feature set and intuitive UI, MetaTrader 4 (MT4) has become the preferred platform for forex traders. But it’s not only for forex trading; it can be used for trading in other asset types as well, including cryptocurrency.
This flexibility simplifies trading for traders and offers potential for diversification by enabling them to access a variety of marketplaces on a single platform. Apart from its extensive asset coverage, MT4 provides a range of advanced tools and features specifically designed to cater to the particular needs of cryptocurrency trading.
These consist of tools that enable traders to do in-depth market analysis and make well-informed trading decisions, such as customisable charts, technical indicators, and analytical tools.
Now trade cryptocurrency more efficiently!
Knowing these 6 great trading platforms ideal for crypto trading, you now have an idea of what a good platform is from a bad one. But to efficiently find the perfect crypto trading platform for you, you need to remember:
Take into account aspects like security, costs, available cryptocurrencies, user interface, and regulatory compliance while selecting a trading platform. Before choosing a platform, you should also carefully evaluate your needs and trading preferences in addition to doing extensive research on each one.