What Are the Best Platforms for Trading Cryptocurrencies?
- 1 Best Platforms for Trading Cryptocurrencies:
- 2 Best Automated Trading Cryptocurrency Platform: Crypto Bot
- 3 Best Cryptocurrency Trading Platforms For Beginners: Top Tips
Let's check this article which are the best platforms to trade cryptocurrencies, these platforms mentioned here, provide unlimited free demo account.
While digital currencies are now popular among retail and institutional investors, there is also widespread skepticism about the legitimacy of cryptocurrencies as an asset class. This skepticism should no longer occur, as many institutions are now involved in this area.
However, if you want to access the cryptocurrency investment space, you need a trading platform that can meet your needs as well as provide reliable tools for crypto trading. What are the best platforms for trading cryptocurrencies?
Best Platforms for Trading Cryptocurrencies:
What is the best platform for cryptocurrency day trading? well our choice is eToro, one of the best options for day traders looking to trade stocks. The multi-asset platform has been on the market since 2007. Today, there are 16 different currencies that can be bought and sold on the platform.
eToro also offers trading with a much broader range of assets. The platform allows for Forex day trading as well as several major cryptocurrencies and a number of commodities for trading.
In general, eToro is commission free. These factors make eToro the best platform for cryptocurrency transactions.
We also like eToro because of the search tools it offers. The platform works as a social network where you can follow other traders and/or even copy their portfolios.
It also has built-in graphics software and a news feed. The only downside of eToro is that the charts are not very advanced, so you won't be able to develop your own indicators or backtesting strategies.
Avatrade is among the best cryptocurrency platforms. Founded in 2006, AvaTrade has offices in 11 countries and provides a variety of web, desktop and mobile trading platforms, offering forex and forex spot options and CFDs across multiple asset classes including cryptocurrencies.
AvaTrade has 200.000 registered traders who place over 2 million trades each month and has executed over $1,47 trillion in traded values since inception.
AvaTrade has regulatory licenses in various financial centers around the world. AvaTrade is headquartered in Ireland, where its regulator is the Central Bank of Ireland and is a member of the Investor Compensation Company DAC (ICCL), which offers eligible clients up to EUR 20.000 maximum refund in the extraordinary event of their broker's insolvency.
AvaTrade is a trusted global brand best known for offering traders a wide selection of trading platform options.
Our tests have found that AvaTrade is a great trading platform for anyone wanting to copy trades from other traders.
Crypto: cryptocurrency trading is available via CFDs, but not available via underlying asset trading (eg buying Bitcoin).
IQ Option is among the best platforms for trading cryptocurrencies. Since 2013, they have won numerous awards for their quality and reliability.
Millions of traders recognize him as a great online broker. Registered in Cyprus, the parent company “IQ Option Europe ltd” has a CySEC license.
Its platform offers 12 different CFDs in cryptocurrencies. These include: Bitcoin, Ripple, Qtum, Ethereum, ZCash, Dash, TRON, Litecoin, EOS, Bitcoin Cash, Ethereum Classic, OmiseGo. Leveraging margin trading and short selling is easy with fast, flawless withdrawals and deposits.
Like any other asset available for trading with the IQ Option platform, cryptocurrency assets can be traded using CFDs, Forex or traditional options.
Cryptocurrency multipliers are leveraged trades. The underlying price remains the same and remains the key factor in the trade's profit/loss.
The potential profit/loss on any given trade is magnified by the multiplier. Before, they offered a single multiplier called Bitcoin X 100 — which, as you can imagine, multiplied the price of Bitcoin by 100 times.
The success of this feature led the platform to expand the range of multipliers available — to other cryptocurrencies, such as Ethereum (ETH), TRON, Iota and Ripple, and in different amounts (X 20, X 50 and X 100) in Bitcoin.
If you like a high risk/reward ratio, this feature is a great benefit. In addition to the multiplier feature, they have the Open Trade Network (OTN) — their own blockchain-based cryptocurrency exchange based on the Ethereum blockchain platform.
OTN has been in operation since 2018 and offers users a personal cryptocurrency wallet and specialized OTN currencies (or tokens).
OTN is a trusted and regulated blockchain innovation that has proven to be a valuable investment for both IQ itself and its users.
Traders receive OTN tokens as an incentive to use them. OTN tokens are marketable in the market. It paid off for IQ Option, it caused a change in the brokerage industry.
Best Automated Trading Cryptocurrency Platform: Crypto Bot
What is the best cryptocurrency platform for automated trading? Well, pre-configured trading algorithms include indicators to perform trades in a certain period (time period).
The simplest program, in principle, can be written by anyone familiar with the basics of cryptocurrency programming and trading. In addition, the network has enough material on the topic.
So let's consider the best encryption platform for automated trading. CryptoHoper is a bot for binance trading and 9 other popular crypto platforms.
It supports over 100 virtual assets, has a smartphone app and many built-in indicators (RSI, EMA, Parabolic Sar, etc.).
A user can use market making, arbitrage or create their own trading strategy. One week of free use is provided.
Best Cryptocurrency Trading Platforms For Beginners: Top Tips
How to choose the best cryptocurrency trading platform for beginners? Well, in 2021, there were hundreds of cryptocurrency trading platforms available on the market.
While some are larger CFD sites offering multiple asset classes, some specialize exclusively in cryptocurrency trading services.
Whichever option you choose (CFD platform or cryptocurrency exchange), there are a few factors you need to consider before registering.
So, the best crypto trading platform for beginners should include:
- Regulations and licenses,
- Different types of cryptocurrencies available for trading,
- CFD trading,
- customer support service,
- Different types of payment methods.
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