With so many new crypto trading sites popping up on the Internet, you could get a bit sidetracked when trying to figure out which of these is the best crypto trading platform. But luckily for you, Top Crypto Traders LTD is going to be all about everything you need to know when it comes to picking out the best crypto trading sites and apps in the market as well as locating the best platform to buy cryptocurrency for your investment needs. Enough with the chitchat, let’s get into it.
What are cryptocurrency trading platforms?
Crypto trading platforms are essentially a market for buying, selling, and exchange of over 1000 different cryptocurrency coins, for a small profit with each trade. For example, Bitcoin trading sites deal with mainly trading Bitcoin between the users signed up on the platform. The trades available will be time sensitive so it is usual practice for brokers to make small profits off the movement of the Bitcoin, either upwards or downwards .
How does trading work?
The method by which this works is simple. Firstly, the trader must procure crypto coins of their interest. In most cases, these coins are bought with fiat currency or common money. Once that happens, they will have a balance in their digital wallets for that coin. More versatile traders who want to trade in multiple coins can use external wallets, which support the buying, selling, and exchange of more than one type of coin. Traders will then just need to link these wallets to their favorite trading platforms and begin trading.
How to choose a good crypto trading platform?
Crypto trading platforms are popping up by the dozens every second, simply because of how gargantuan crypto trade has morphed into. Hence, the most common issue new traders face is choosing the best website to trade cryptocurrency, which works with their trading scales. There are quite a few factors to consider, so let’s jump right to them.
Security, licensing & data protection
If you’re going to invest your hard-earned cash on anything, the first thing you’d think of is the safety and security of your investment. The same goes for crypto trading. Operators of cryptocurrency trading sites go the extra mile to equip their cryptocurrency trading sites with the best data protection systems and the highest grade of encryption that they can manage. In some cases, these sites’ data security can even match up to military-level data guarding. As for trading licenses, these websites go through rigorous screenings, validation, and red tape before they are deemed safe for trading in any country.
Pick a trading site that has gained a good rapport with traders. If possible, make sure they’ve been around for about 4-5 years. Fact check their important statistics, like trade volumes, exchange rates, sign-up frequency, and such. There are cases of trading sites inflating their trading statistics just to get more users in so always watch out for those. Always thoroughly review a site before investing money into it.
Fiat currency support
Some traders prefer to own the coins they trade. For this, they will need to sign themselves up onto a platform that allows them to exchange their real money into crypto coins. High demand fiat-crypto exchanges include USD-Bitcoin, EUR-Bitcoin, and EUR-Ripple. Alternatively, they can concurrently trade both fiat and cryptocurrency on a single platform, further expanding their earning avenues.
There are a lot of digital currency wallets of late, mainly due to the sheer number of available crypto coins. Most trading sites prefer the use of versatile crypto wallets or crypto exchanges, where traders can simply switch and trade between currencies including fiat. However, there are quite a few, bigger crypto trading platforms that also support native wallets for in-demand coins like Bitcoin, Ripple, Ethereum, and more.
This is an important thing to look out for, especially if you’re planning to rake in long term funds from crypto trading. Some cryptocurrency trading platforms tend to show their asset-buying prices are a slight margin, in order to profit off them. And in parallel, their selling rates are also comparatively lower. Be wary of such sites and try to have a few different platforms at your disposal so that you’d be able to compare the prices and get a fair average of current market values for your crypto trades.
As with any service, there is always a fee. These platforms serve as not only a market for you to trade your crypto coins, but also provide you with the latest indices for cryptocurrency buying, selling, and exchange rates. Hence, even the best crypto trading sites offer these benefits to their traders at a small cost. Among the common forms of fees, you’d come across include trading fees, exchange fees, transfer fees, transaction fees, network fees, and in some cases, even a one-time account fee.
Which is the best cryptocurrency trading platform?
Now that you know what to look for, you may be tempted to go out and look for a site that works for you. But, there are so many trading platforms on the internet and many more springing up each day. Not to worry! Here is a comprehensive compilation of every best place to trade cryptocurrency. Read on to find the best one for you.
Bitcoin Era is a smart trading platform that works with a built-in market analysis algorithm. This algorithm is carried out by bots, who scour the indices for the trades matching the needs of each trader. The starting deposit here is only $ 250 and traders stand to earn up to $ 1000 a day. And when profits are reinvested, you can be on your way to earning your first million in under a year. The site is fully equipped with military-grade encryption to ensure that every bit of data submitted to and on the site is secured and protected.
- Built-in market analysis;
- Military-grade encryption.
- Regional restrictions.
Bitcoin Profit is yet another Bitcoin smart trading site. However, it comes with a unique time-leap trading system, where market data reaches the platform 0.01 second faster compared to other platforms and even major share indice boards. This is made possible by a high-tech network data transfer system called VLN. In addition to that, traders can also get in-depth market evaluation charts that show the latest movements in the market, making forecasting much easier.
- Time-leap market indices;
- In-depth coin evaluation charts.
- Specifically trades in Bitcoin.
eToro is another celebrated cryptocurrency trading platform. The site not only offers crypto trading but also a string of other financial assets, allowing users the freedom to expand their trading portfolio. The fee structure of the site depends on the spread distance rather than the volume of the transactions. Additionally, the site operates strictly in terms of USD so anyone trading with a different currency will need to switch to and from USD when using the platform and making withdrawals. These exchanges are also charged a small fee.
- Variety of trading assets;
- In-depth coin evaluation charts.
- Trades specifically in USD;
- High fee.
The Bitcoin System site deals mainly with Bitcoin indices and provides its users with an algorithmic software that intelligently completes trades in a trading day. Users simply have to set their required limits, trade budgets and type of asset to be trade and the rest will be handled by the software. The process is fully automated, but you will not be allowed to exit a trade prematurely. This is to prevent the emotional factors at play to disrupt a trader’s logical strategy. There is no sign up fee for this site and the required capital to start trading is fairly small, below a $ 500 margin.
- Free account;
- Automated trading software.
- No manual override for trades.
Coinbase is yet another secure option for your crypto trading needs. It not only offers a safe platform for amateur and skilled traders but gives its users a chance to earn a number of different crypto coins, just by learning about each digital currency and answering a few simple questions. The site also has insurance coverage for trades, making it one of the few to implement such safety net features for their crypto traders. Businesses who want to venture into crypto will also find a number of solutions and integrations that work for commercial use.
- Trading insurance provided;
- Earn crypto coins.
- High fee;
- Trades mediated in USD only.
Bitcoin Billionaire is one more algo trading platform to keep in mind, and with a 90% profitability rate, you can be sure to remember. This site has an intricate and complex computational program that is able to analyze the market and locate the most lucrative exchanges for every currency pair on the market. Traders who have used the site racked up to $10,000 a week, simply by making use of the site’s algorithmic trading process.
- Algorithm-based trading;
- High earning rate.
- Limited payment options.
Another algo-based crypto trading platform, Bitcoin Superstar runs on AI-powered scripts which are able to identify the best market pricing for each trade, with up to a 99.4% accuracy. Users of the site have reported to reach earnings of up to $ 5000 daily, making it one of the more profitable options out there. No fees are charged on this site, merely a capital to start off your investment. The site has also been accredited as one of the best trading softwares by the US Trading Association.
- AI-based auto trading;
- No fees.
- Regional restrictions.
The News Spy
The News Spy trading platform is unique in its approach to Bitcoin trading. The site combines human and machine experience, extracting news pieces from all over the world and deducing the data to be able to predict market trends to a 97% accuracy. And with this information, their trading bots are able to scour the indices for a similar pattern and complete these informed trades on your behalf. The crypto market is a 24-hour a day rodeo, so you will still be able to make profits, even while asleep.
- Predicts market trends;
- Profitable 24/7.
- Limited free trial.
This auto trading platform is another one to watch for. Bitcoin Circuit runs fully automated and partners with multiple trading data sources to bring you the most accurate buy, sell and exchange rates for digital coins. It only requires a small capital to start off and with some specifications from you, the bots will be able to take care of every aspect of trading for you. The complex layout may be a bit difficult to navigate for a few beginners but skilled traders would be right on top of it in no time.
- Small capital requirement;
- Automatic trading options.
- Complex platform layout.
Binance is another hotspot for crypto trading. The main dealings here revolve around BTC and ETH to USDT but there are other crypto coins that you can trade off as well. This site is well-known for its state-of the art forecasting systems for USDT and other coins, with up to a 125x leverage. This means that most of the forecasts you make based on Binance’s data pools almost always end in a winning trade. The only thing is that you’d need to oversee your tradings manually, which may not work well for those doing this as a side gig.
- 125x forecasting leverage;
- Compatible with all devices.
- Fully manual trading.
Which trading platforms are the best for beginners?
When you’re a beginner in such an industry, you’d probably be quite intimidated by the amount of skill that is actually required to make these trades and make them as profitable as possible. From strategizing to forecasting. But thanks to a few technological minds, lots of these steps can now be automated. And all you have to do at your end is to monitor the system and supervise the operations.
This site has long been a pick for beginners due to the sheer simplicity of the site. Market details are presented in an easy-to-understand manner, that even laymen would be able to make sense of it. Besides this, the site has simplified the trading process for beginners by allowing them to trade with an auto option. Under this, the Bitcoin Revolution seeks out trades based on the limiting factors inputted by the user and completes them within the trading timeframe.
Beginners in the trading scene will appreciate the social trading feature that Bitcoin Code has. New traders will be given access to a list of successful traders on the platform, along with their latest trades and strategies. These can then be mirrored and applied to their own portfolio and trades to maximize their profits. This way, you won’t have to be a trading pro to gain a profit from your digital currency trades.
Although essentially a crypto exchange platform, Changelly is an easy profit option for those who are still new to trading. The site offers exchanges in 1000 different assets and makes it one-click simple to be able to buy, sell and exchange cryptocurrency. All you will have to do is monitor price movements diligently and make the move when prices are in your favor! Additionally, a third-party addition can help you automate most of this.
What do I need to watch out for?
As with all investments, if you’re not careful with your plans, strategies, and moves, things may not end in your favor. But, thanks to the pooled experiences of generations of crypto traders, there are a few guidelines as to what you will need to be wary about when beginning your journey into the wonderful world of crypto trading.
FUD is trade-speak for Fear Uncertainty and Disinformation. This idea revolves around the interference of human emotions as well as the effect of word of mouth on trading decisions. It is estimated that about 76% of traders fail due to FUD and once they managed to overcome this, their profits rose significantly. Always put the logical foot forward when trading and trust the strategies, despite what your emotions may tell you.
Financial news rut
Lots of people keep an eye on the latest financial happenings as soon as they get their trader title. And inadvertently, they get sucked into a whirlwind of crypto news and events, becoming completely reliant on them for their forecasting and strategizing. In most cases, the news does not present a threat to the actual market. Always take these updates with a grain of salt and contemplate all factors before making a change in your trading gameplay.
The drive to gun for the biggest possible profits in one go may spell your downfall. The trading game is a play for the long-term and profits need to be carefully extracted over time. Always make sure that you budget your investments and re-investments well. Also, spread them out over a couple of different crypto coins and patiently wait for a time to make your move.
Pros and cons of trading crypto
Trading cryptocurrency is just as risky as other investments are. These financial markets are subject to many different factors and can be quite volatile at times. Here’s a quick lookover of the pros and cons of trading in crypto.
- Massive earning potential;
- Clear trading pathways;
- Increased liquidity of assets;
- Variety of trading assets;
- Shorter trading timelines.
- Potential network stalls.
Tips for trading cryptocurrency
The skilled ones may already be privy to some of these secret weapons in crypto tradings. But for the benefit of those still fresh, here are a few top tricks, straight from the trading playbook, to help you along with your first few steps in the world of cryptocurrency trading.
- Keep a watch on Bitcoin;
- Stick with strategies;
- Use only proven, validated strategies;
- Spread out your investments;
- Always plan out your trades;
- Budget trades wisely;
- Weed out the risks;
- Do your research;
- Dismiss all rumors.
For the newbie in the cryptocurrency trading world, the first step may seem like a big one and you may also be reluctant about it, seeing that there is much to learn. But, with all these new and improved trading sites, big strides in trading technology, speedier data transmission, and a myriad of different trading tools at your disposal, getting a piece of that crypto profit no longer has to be difficult anymore.