Best trading platform for crypto: beyond Binance and Coinbase
So you bought Solana for $2 per coin in January and its price rose 15 times by mid-spring. Sounds like a dream? No bank in the world would offer such profitable deposit conditions; no wonder that cryptocurrencies are wildly popular these days. To become a happy owner of some great coins, one has to find out which platform is better for crypto trading though.
One has to be careful with crypto, it is out of question. If you sold a house for Ether in April, inspired by the 2021 run, only to discover it falling from $4,000 to $1,500 in a matter of weeks, it would certainly be a personal tragedy.
Always have a backup plan. If you can survive the price decline, your assets will show overall growth.
That settled down, proceed to find the best trading platform for crypto. We are going to help you make an informed choice.
Best trading platform for all crypto currency
You rarely find an exchange that lists all imaginable altcoins immediately: exchanges care about their reputation and avoid listing coins that smell of scam.
Whether or not a certain coin will be listed on a certain exchange is also a matter of agreement between the coin developer team and the exchange in question.
What we mean is that your personal best trading platform for crypto must trade your favorite coin, period. If you are a fan of MINA, go visit OKEx.
Considering overall coin variety, Binance and Coinbase are the top choices worldwide. There is no “one size fits all” solution. What if Binance is currently shutting down its operations in your country? You won’t be able to pick it as the best trading platform for all crypto currency then, for obvious reasons.
If you identify as a sort of fighter for justice and want to hang out with like-minded people, Robinhood might be just for you.
EToro is great for beginners with its automated trading tools but high commissions often make traders look elsewhere.
You might also be willing to choose a tiny, little-known exchange because it trades a coin or a token you can find nowhere else. It happens if you want to invest into an emerging game that uses the coin as its internal currency.
Perhaps it is not appropriate to ask, ‘What is the best crypto trading platform for us?’ but rather ‘Which choice will benefit my community the most?’ You may want to support your community by asking a peer for a referral code or by supporting a token issued by crypto enthusiasts in your vicinity.
Which platform is better for crypto trading
When it comes to discussing digital assets, the definition of good or bad is vague: once in a while online exchanges get hacked, some decent coins slowly die out while others get loads of undeserved attention.
There is plenty of space for improvement in the crypto, and we have chosen to bring cryptocurrencies closer to average people. Trustee wallet is the best solution that enables you either to buy digital coins for fiat or swap them for the best price.
Beside the power to encash, buy, or swap crypto anytime, we offer a couple of other niceties, like 2-tier referral system or brief notifications about coin price dynamics.
Our crypto wallet app is among the best platform for crypto day trading and is surely enough for starters.
Oh, by the way, if you look for the best crypto platform for day trading, look into trading bots also. Going on without any automation soever is nigh impossible – you are surely going to fall behind the active bot users. See our article on this.
Platform for algorithmic crypto trading
We do not consider a single exchange as a source of stable trading income. It is true that modern exchanges feature the tools of smart algorithmic trade but their functionality is still mediocre.
What you need is a deep dive into various software applications that fit different levels of user expertise and expectations.
There are low-risk arbitrage bots that read prices from various exchanges and resell crypto for small profit. Consistent usage of these will result in regular income, however small.
Another kind of bots attempt to predict the price change and act accordingly. You can tweak an existing strategy, build your own one, backtest it against historical data, visualize it, and more.
The price can always take an unexpected swing so there is always some risk, but the advantages of bot-guided trading are obvious:
- It excludes any chance of human error. It never loses focus or misclicks.
- It won’t make emotional decisions that are known to lead to disastrous consequences.
- It allows you to simulate different strategies and their outcomes.
You could as well use your favorite exchange (provided that it has the respective tools) as a platform for algorithmic crypto trading. Use that as a starting point and moving on to tools like Trality, Cryptohopper, or console-based Ichibot will be easier.
As a final note, never be afraid to learn, ask your friendly crypto community for advice. Cryptocurrencies at large are not a miraculous source of income, their prices are tightly related to their inherent value, the demand, and the value of every other influential asset on the market. Taking trading or investing lightheartedly is a certain way to disappointment.
Trade responsibly, and good luck!