- Best Platforms for Day Trading Bitcoin
- Best Bitcoin Trading Sites for simple Investment
- Best Platform for Margin Trading Bitcoin
- Best “Real” Bitcoin Trading Platforms
- Best Futures Trading Platform for Bitcoin
- Best Altcoin Trading Platforms
- Bitcoin Trading Platforms for Beginners
- Best Bitcoin Trading Platform USA
- Best Bitcoin Trading Platform with Demo Account
- Best Bitcoin to Ethereum Trading Platform
- Best Bitcoin and Litecoin Trading Platform
- Best Bitcoin Trading Platform With no Fees
- Best Bitcoin p2p Trading Platform
The best Bitcoin trading sites come with three main benefits. They uphold the highest security standards with integrated safe wallets, cold storage, and two-factor authentication. They are user-friendly and intuitive. Last but not least, they allow users to trade a wide variety of cryptocurrencies beyond Bitcoin and Ethereum. We will discuss the best platforms for long and short trading as well as trading with leverage. Some of them give access to BTC/USDT trade.
Best Platforms for Day Trading Bitcoin
Binance features leveraged tokens, hundreds of market pairs, and margin trading as well as quarterly and perpetual futures. Market data is accessible in real time. The spot trading fee is 0.1% and the instant buy/sell fee is 0.5%.
You can trade Bitcoin for 143 different cryptos, meaning there are 143 BTC trading pairs on this exchange. You can see what they are by selecting BTC in the top right corner. You choose the coin that you want to exchange Bitcoin for. You could choose Ethereum or Ripple.
Binance features three types of orders: market, limit, and stop-limit. Market orders make it possible for traders to exchange cryptos at their current market price.
This is the quickest and simplest kind of trade. By placing a limit order, you can establish the lowest price you’re willing to sell coins for or the highest price you’re willing to pay for them. Then, you need to wait until a seller or buyer accepts your price.
By placing a stop-limit, you can sell or buy a coin once it gets to a specific price. Professional traders tend to favor this kind of order.
The most popular setup on this platform is the so-called day trading breakout. Breakouts never fail to cause a stir among traders. We speak of a breakout when an asset gaps down or up on high volume in relation to a news event or the like. Once day traders notice that the price is breaking beyond flat range, they move into the market. They then close the trade above the level of resistance. “Support and resistance” is the term for this approach.
Then, traders sell when there is a break below a failed level of support and buy when there is one above a failed level of resistance. Primexbt is perfect for this.
Users of Overbit have access to all kinds of cryptos and can trade using Bitcoin or Tether. They earn rewards in tier points for trading and can exchange these, again for Bitcoin or Tether. The platform offers up to 100 x leverage on cryptocurrencies. You can open each positions with either isolated margin or cross margin, which serves to limit your exposure to risk. Overbit uses multiple liquidity providers around the world, operating a deep order book.
Best Bitcoin Trading Sites for simple Investment in Cryptocurrency
Our top choices are Coinbase, eToro, Uphold, and TradeStation. Read on to find out why we selected them.
With more than 20 million users, Coinbase is the biggest crypto exchange. It was founded in June 2012 and is based in the US. It’s best known for Coinbase Pro, its intuitive trading platform, and its user-friendly website. Coinbase supports Ethereum, Litecoin, and 11 other cryptocurrencies for trading.
75% of retail investor accounts lose money when trading CFDs with this provider.
This efficient platform is an excellent choice if you’re looking for crypto trading and zero-commission stock. It’s only possible to withdraw cryptos if you have a dedicated eToro wallet.
Uphold gives access to trade with 36 different cryptocurrencies. You can swap cryptos for anything on this platform using the same account. Trade is direct, meaning there is only one step between BTC to XPR trade as an example. Most analogical platforms make you take at least two steps to carry out an identical trade, generally doubling your fees in the process.
Uphold also offers the option to earn interest on crypto balances via third-party providers. The interest ranges from 3% to 10%. If you use the platform’s debit card to make payments, you can get 2% crypto and 1% cash back.
TradeStation’s taker and maker fees (on limit orders and market orders) are competitive at just 0.5%. This is a big plus for Bitcoin investors. If your balance goes above $100,000, the fees drop further. This popular BTC day trading provider offers three platforms: TS Crypto, Web Trading, and TradeStation desktop, their flagship product. TS Crypto is available for crypto trading only. Their web-based platform targets users who are seeking simplicity.
The trading provider features custom screening tools as well as Radar Screen, a watchlist with 329 columns streaming in real time. Users get access to options trading, leveraged trading, futures, ETFs, and more. The crypto platform is accessible through a separate account. Customers can use ClickIPO to access IPOs, which is available through conditional orders.
Best Platform for Margin Trading Bitcoin
Leverage is a two-edged sword with implications for margin trading. Higher leverage makes more margin available in the account assuming the same position size, offering a more substantial buffer from liquidation. Higher leverage is also riskier if you maximize the position size based on the leverage chosen.
All positions on FTX use the same pool of collateral by default. What counts as collateral? All BTC, fiat, USDT, XAUT, BCH, LTC, ETH, BNB, PAXG, SRM, FTT, CUSDT, LINK, TRYB, KNC, IBVOL, TRX, XRP, SOL, and BVOL in your wallet. Each subaccount uses cross margining and has one central wallet with collateral. It also has separate collateral and margin from the other subaccounts.
If you want to apply isolated margin, you should move in collateral after creating a subaccount for that position. You won’t lose more than the collateral in the subaccount performing the trade. You will never lose any assets that are not on the exchange.
In practice, the profit and loss will cancel each other out with market movement although hedged positions on the same index won’t limit the positions’ collateral requirements. For instance, a short BTC perpetual position will have the same collateral requirements as an account without a short position for adding a long BTC-0327 position.
You can exchange perpetual swap contracts for BTC, ETH, and LTC on this BTC margin trading platform. Its being a p2p network is among its special features. This means exchange takes place directly between the two parties involved. Primebit offers industry-standard perpetual contracts. This is like a future, but with an open settlement date. You can close the trade or keep it open depending on its profitability.
A key feature of this platform is leverage, which can be used to benefit from relatively small price movements, make your capital accumulate faster, and tune your portfolio for bigger position size. You use margin to gain increased exposure by means of leverage. What you’re basically doing is putting down a small portion of your trade’s value. The platform does the rest.
PrimeXBT’s products expose users to major cryptocurrencies without tying up big volumes of capital. PrimeXBT offers a large number of BTC -based contracts for difference with extra leverage and short as well as long positions on cryptos, forex, stock indices, and commodities.
If you use margin consistently, Robinhood offers great deals. It’s even better if you place trades often and have a moderate to large account balance. This platform profits from selling clients’ order flow to wholesale market makers. Order flow is their right to fill clients’ orders. Most exchanges today take payment for order flow in some shape or form, with the possible exception of Fidelity.
Best “Real” Bitcoin Trading Platforms
Our top choice in this category is Bybit, a derivatives exchange founded in Singapore. While it excludes US residents from trading at this time, it requires no KYC. Perpetual BTC, EOS, XRP, and ETH futures are very popular; perhaps its most popular product.
Bybit’s customer support is available 24/7 in multiple languages. The platform features a clean, user-friendly layout. Its margin trading guides are one of the best things about it. Traders get tips and learn the terms needed to swap derivatives effectively. Things stay fresh thanks to regular trading competitions. The platform’s mobile app is available for Android and iOS.
Our second choice is Binance, where customers can trade futures with up to 125x leverage. This platform accepts USDT. If someone uses 1,000 USDT and chooses 100x leverage, they don’t risk more than 1,000 USDT. However, their position will be worth 100,000.
To long or short a contract, you only need to specify the price. After that, you state your order value at the price you selected.
Kraken features a flexible, user-friendly trading interface. Up to 50x leverage is available on the most popular cryptocurrencies. Kraken also offers personal support and a variety of educational materials. Recently, Kraken Futures adopted volume-based fee tiers. They cut taker fees by at least 33%.
Founded in 2011, Kraken offers trading on Monero (XMR), Ripple (XRP), and Dash (DSH), and another 15 cryptocurrencies. Kraken has a web-based platform, but no mobile app as of yet.
Best Futures Trading Platform for Bitcoin
We find this to be Deribit. This exchange determines BTC prices using an index. If there is a corresponding future, its mark price is used. However, bandwidth limits this price.
Deribit has a simple, straightforward verification process, which you’ll be taken through when you sign up for an account. It involves entering some very basic information. There are two ID verification levels. Level 0 requires basic information and Level 1 requires proof of ID. The exchange only accepts deposits in Bitcoin.
Deribit supports limit, limit post-only, market, and good till canceled orders. The last type are orders to buy or sell an asset that last until completion or cancelation of the order. Deribit supports all limit order types and time in force, good till canceled market orders.
Best Altcoin Trading Platforms
Bitmax has made a name for itself since launching two years ago. It lists a large number of coins and features margin trading, reasonable liquidity, and even a native token – BTMX. The token provides a variety of advantages, including lower trading fees. Users can earn USDT by lending the native token. Bitmax holds airdrops regularly. The daily withdrawal limit is 2 BTC. There’s no KYC requirement.
Our second choice is crypto-to-crypto trading platform Bittrex. Only cryptocurrency trade is possible on this exchange, meaning you can’t trade cryptocurrencies for fiat. However, you can invest in cryptos by depositing USDT. 1 Tether is always worth 1 USD because USDT is pegged to the US dollar.
Bitcoin and Tether, which are the most popular cryptocurrencies on this exchange, have the highest number of trading pairs available. There are over 450 trading pairs for Bitcoin alone.
There is a flat 0.25% fee on every trade. This makes it much easier to remember how much you’ve spent.
Bittrex has more than 190 cryptocurrencies to choose from. Apart from the older, well-established ones, there are newer coins like Tron and Loopring. Bittrex reviews its listed cryptocurrencies daily, adding new ones as often as possible.
Bittrex is available to users from all over the world. It uses a background check service to verify user identity. This service, which is called Jumio, will only ask for very basic information: your first and last name, date of birth, and address.
Bitcoin Trading Platforms for Beginners
The best BTC trading platforms for beginners are Coinmama, Coinbase, and Cex.io.
To purchase Bitcoin on Coinmama’s user-friendly, straightforward platform, you need to register with a username, password, and email address. You also need to provide your full name and your country of residence. You can buy Bitcoin as soon as your account is confirmed.
You choose how much you want to buy on the purchasing page. You can select a premade package or enter a specific amount by manually sliding the bar at the bottom of the page. The professional, highly responsive support team is the reason this is the best exchange for beginners. They resolve issues promptly and effectively.
Coinbase is among the oldest and biggest cryptocurrency exchanges with more than 35 million customers across the globe. They have an intuitive interface and extensive educational resources, making them the perfect choice for lay investors and traders.
Coinbase offers global support and a hosted wallet. It’s a great choice for people who don’t want to use social trading services and are new to the cryptocurrency market.
This platform is intuitive and neat, with quick and simple access to any relevant information. In general, the whole platform is quite ergonomic. What’s more, the trading interface is very easy to use. The pages load very fast. Mobile apps for iOS and Android users are available.
The support team is one of the best things about Cex.io. They respond quickly with a lot of details. Support is available even off the platform.
Best Bitcoin Trading Platform USA
The best American online Bitcoin trading platform in our humble opinion is Kraken, whose users can trade different types of digital assets. These include Ethereum and Ripple. As a platform available to US residents, Kraken is very serious about ID verification with five KYC levels, from 0 to 4. You need at least Level 1 to be able to trade. Proof of address needs to be provided for Level 2.
With the maximum leverage allowed by the platform, you can specify a position size up to your balance x 5. This leverage doesn’t automatically make your position size five times bigger. One selects position size separately from leverage level when placing a margin trade. Your balance relative to the size of your open positions determines your potential profit or loss and liquidation.
This platform provides a tax-advantaged means of investing in Bitcoin and ETH. It features a novel approach, where clients use their 401k or other retirement savings to invest. Investments are always compliant with US government regulations because this exchange is an IRA custodian licensed in the US. Setting up an account is a breeze.
Best Bitcoin Trading Platform with Demo Account
75% of retail investor accounts lose money when trading CFDs with this provider.
For a novice without prior experience and knowledge, trading can seem very intimidating. Brokers provide a risk-free and complex environment for novice traders by making demo accounts available. One of the best brokers to offer a demo account is eToro. Their $100,000 demo account is the most popular one of its kind today.
It’s very easy to set up. You need to go to ‘Sign Up’ on the homepage and register on the website. You will be able to switch your live account to demo (‘virtual’) after that.
After clicking on the sign up button, you’ll be redirected to an online app, where you need to enter your name as well as a username and password for your account. You’ll also be asked for your cellphone number. After you agree to the Terms and Conditions, you go to ‘Create Account’.
The demo and live account are actually one and the same. You can simply switch back and forth between them. You do this by going to the ‘live’ dropdown menu and choosing ‘virtual’ from the two available options.
Best Bitcoin to Ethereum Trading Platform
We believe this is Gemini, a platform whose name references its founders, the Winklevoss twins. Their exchange platform, founded in 2015, isn’t necessarily what they are best known for. In 2004, they rose to fame after filing a successful lawsuit against Mark Zuckerberg. They claimed the idea for the mother of all social networks was theirs and were awarded damages in the amount of 65 million.
Perhaps they used some of this money to launch Gemini, the best BTC and ETH exchange platform currently available on the market. The platform uses Ether, which is the native ETH blockchain currency.
At present, Gemini accepts deposits in a number of digital assets, such as BTC, ETH, BAT, LINK, LTC, and BCH. They also accept USD and deposits made in the US by automated clearing house. Outside the US, you can make a deposit via wire transfer.
Gemini does not charge any fees on deposits in cryptocurrency or USD. In the case of wire transfers, the bank sending the funds will charge fees. A network fee is charged on deposits in BTC and ETH. However, this is no different from making any other transfer on the networks of these digital currencies.
Gemini’s fee structure is based on six tiers and fees depend on the volume one has traded over 30 days. Fees range from sporadic traders to mega-traders who exchange big volumes of Ether and Bitcoin daily. The platform recalculates fees for each trading pair every day at midnight UTC.
Best Bitcoin and Litecoin Trading Platform
Bitfinex is the best BTC and LTC trading platform with spot market exchange trading with real Litecoin and Litecoin derivatives (perpetual contracts). The exchange offers top tier liquidity of their order books, making it possible for traders to exchange BTC, ETH, EOS, Litecoin, NEO, Ripple, and plenty of other cryptos with ease and minimal slippage. By providing traders who want to use leverage with funding, liquidity providers generate high yield. Users trade funding on an order book at various periods and rates.
In terms of margin trading, the platform offers up to 5x leverage trading by giving traders access to the p2p market.
Bitfinex makes a new type of perpetual contract available. This is a derivate one referencing the Bitcoin/Tether pair. Payments are funded exclusively in USDT, in which transactions in the Perpetual Contract are settled as well. Tether is the permissible margin collateral to fulfill margin requirements. The same applies for the Litecoin/Tether pair.
This was one of the first platforms to recognize Litecoin’s advantages, and this crypto is now among Bitcoin’s leading competitor. You can trade long or short when you trade LTC as a contract for difference with this industry-leading broker.
AvaTrade have their own advanced, downloadable platform – AvaTrader, which features multiple live news feeds. They offer a variety of other trading platforms, including MetaTrader 4, Webtrader, ZuluTrade, and Mirror Trader. The MetaTrader 4 is an industry standard and a great choice for inexperienced traders.
The minimum lot size of this broker is 0.01. They feature over 250 tradable assets, a maximum margin of 1:400, and a demo account.
You can trade Litecoin with up to 200x leverage with AvaTrade. For maximum convenience, the Litecoin market is available to investors and traders around the clock.
You can make a deposit to your AvaTrade account via Visa, MasterCard, wire transfer, and PayPal as long as you are outside the EU. The site has 256-bit SSL website encryption. Withdrawals take a maximum of 5 business days.
Best Bitcoin Trading Platform With no Fees
Platforms without fees let traders purchase, sell, and trade Bitcoin and other assets without paying a dime. This can make the difference between a winning and a losing trade for active investors. We find Phemex to be the best choice for a feeless platform with ease of use, no KYC required to begin trading, a beginner-friendly user interface, zero trading fees on spot trading, a demo account to trade cryptocurrency risk-free, a derivatives exchange with up to 100x leverage, and a mobile app to trade on the go and at any time.
Phemex also has a responsive customer support team available 24/7. You’ll be rewarded for referring other users through the platform’s generous affiliate program.
To register a feeless account with Phemex, click on the ‘Products’ link on the homepage and choose ‘Spot Trading’. Then, enter the amount of Bitcoin you want to sell, buy, or trade against another coin. To carry out the trade without fees, click on the ‘Buy’ or ‘Sell’ button.
Best Bitcoin p2p Trading Platform
Local Coin Swap
This platform supports the highest number of cryptocurrencies of all p2p exchanges. Smart contracts or escrow protection scripts secure all trading. These scripts are fully open source.
You can purchase Bitcoin, Ethereum, and other coins using cash, wire transfer, PayPal, and more than 200 other payment methods.
Local Coin Swap lets you exchange BTC instantly. Waiting time is not something you’ll ever have to reckon with. All trades are launched within 30 seconds. You can filter, browse, and search offers and reply to offers or post your own offer to trade. You can filter offers by payment method, location, type of cryptocurrency, and more.
Payment between the buyer and the seller is always direct. The platform doesn’t get involved. Neither do any other third parties. After confirmation of payment, the cryptocurrency is released to the buyer from escrow.
One notable aspect that also sets this provider apart from other P2P platforms is the design. Local Coin Swap’s interface is beautiful with a contemporary feel, not to mention incredibly intuitive.