Top 5 Best Crypto Exchanges for Daytrading 2022

Choose between fixed or flat rates when trading to get the best deal out of each transaction. Best for those that want to deal on the fastest growing crypto platform. Binance operates on a highly secure platform with no known breaches of sensitive data or funds. Read my full comparison guide on Kraken vs. Binance for more information on these platforms. Best for crypto enthusiasts that want a safe and secure place to trade.

While Kraken does offer a margin trading service to international users, there is a limitation for users within the USA. There are certain eligibility requirements that need to be met which may rule out many retail day traders. Aside from this, Kraken provides a great option for day trading cryptocurrencies for individuals in the USA and abroad. With its competitive fees and reliable trading platform, Kraken completes our list of the top day trading crypto exchanges. Bitcoin and cryptocurrencies are a highly volatile asset class that can see wild price swings within a 24-hour period. Given the volatile nature of the market, lower time frame traders can capitalize on these small price movements to make potential profits.

Best Cryptos to Day Trade – Full Reviews

All ratings are determined solely by the Forbes Advisor editorial team. Tokens that can be bought and sold with up to 3X leverage and without any margin requirements. The process is quick and easy at eToro as you simply need to upload a copy of your government-issued ID for authentication.

It can be anything from educational resources to tracking and analysis tools or trading features like margin trading and options trading. You have to find a good balance between affordable fees and good trading tools and features. Today, we’ll help you find the best crypto exchange for day-trading and the factors that you should look for when choosing one.

#4. Binance

You must have seen the stories of people who lose all their money while day trading and it is definitely possible that you might be one of them. The mobile app has been made specifically keeping day traders in mind, and enables them to enter and exit positions when they are away from their workstations. If you are worried about whether the platform is reliable even after the fact that they are a publicly traded company, they hold an e-money license from the FCA in the UK. If you are willing to pay the high fees of 3-4% to the platform, you can also add fiat currency via your debit/credit card to your wallet and help facilitate the buying of crypto coins. If you have crypto in a wallet, or on some other exchange, you can simply deposit it here by getting the wallet address from the platform.

Ultimately, you can trade any pair of your choosing as long as you are prepared to put the legwork in – i.e. perform technical analysis. The IG platform is favoured by how to choose a crypto exchange technical traders that like to perform in-depth research and analysis. We also like IG as it offers a crypto index that consists of 10 large-cap digital currencies.

If you want to get even further, ChangeNOW also has a premium version of their service. This allows you to get access to their top help desk software service and the very best of special offers available on the market – both instant exchanges and cryptocurrency. Crypto.com was built for individuals who want to buy and sell 150+ cryptocurrencies with 20+ fiat currencies , bank transfer, Paypal, or even a business credit card/debit card.

Bittrex offers a comprehensive support service, designed to handle any question that you might have about the platform and how to perform any function on it. Receive custom notifications on your phone when the price of any digital coin you are following increases or decreases significantly. Track the performance of hundreds of different digital currencies and easily add them to your watchlist. Purchase individual stocks, ETFs, and indexes at will, using the currently available cryptocurrency you have in your crypto wallet.

What To Look For When Choosing The Best Cryptocurrency Exchange

No contracts or restrictions are required so you can leave at any time. Institutional traders also have the opportunity to customize their trading experience with hands-on assistance, ensuring their every need is met. Their massive liquidity ensures trade execution at the price you want – with spreads as tight as 1 pip – ensuring that your transactions go through at the price you want. In this respect, not only are eToro stocks less expensive than those on other platforms, there are several additional benefits to purchasing them.

The abundance of markets combined with deep liquidity separates Binance from its competitors. Crucially, crypto day trading is a short-term strategy that will see you hold onto a position for a few hours. On the other hand, if you were to hold onto a cryptocurrency position for days or weeks – this would be a swing trading strategy. The chapters in this audiobook will discuss all of the steps that you need to know to get started with trading on the forex market. There are a lot of parts that come together when working with your investment strategy.

Up to $250,000 is covered by FDIC insurance for cash balances held with Coinbase. For those who are new to trading crypto or lack knowledge about different exchanges, I want to make this process as simple as possible. Kraken allows you to get started trading with as little as $10 while ensuring deposits and withdrawals are fast and secure at all times. Moving Average is one of the most popular indicators in the cryptocurrency space. This indicator plots a line, which is the average of previous candles.

Which time period in a day is best for crypto

Since its inception in 2016, Crypto.com has become popular with traders both new and experienced as it gives you access to large and mid-cap projects that have trading volume. You can also buy and hold CRO tokens which is the native token for the platform. Swyftx allows you to day trade more than 300 cryptocurrencies with a fee of 0.6%, no trading limits, and spreads as low as 0.41%. For the deposit and withdrawal of crypto, standard network mining fees apply and Swyftx does not charge any additional fee over it.

There are a lot of different crypto signal providers out there, so it’s important to do your research and find one that suits your needs. However, there are a few things you need to be aware of before starting to copy trade crypto. Ripple is also highly volatile, which can lead to big profits if you know how to capitalize on its price movements. Moreover, thanks to its unbelievable popularity, there are always people willing to capitalize on its price swings, making them even more extreme. They are also regulated by financial bodies that are trusted by a large part of the population and will alleviate your concerns about your money being safe with the exchange. Their customer service is available 24 hours, 7 days a week, and according to reviews of the same on TrustPilot, it is very reliable.

Owned by Sam Bankman-Fried, the CEO and co-founder of Alameda Research, FTX is a well-balanced and innovative marketplace that caters to retail and professional traders alike. Ranked 6th in the world for trading volume on its derivatives platform, FTX processes over 6 billion in transaction volume per day at the time of writing. Combined with its seamless mobile app, FTX offers several advantages and benefits for crypto day traders that we will outline in this section. We found that the best crypto day trading platform for 2022 is eToro. This broker is regulated by three tier-one bodies and for US clients – it is registered with FINRA. When it comes to fees, you won’t pay a single cent in commission when you day trade digital currencies at eToro.

Is day trading crypto profitable?

It’s also a good place to buy popular community coins like Safemoon. Depending on where you live, you might be able to deposit funds with your debit/credit card. The Spread – which is the difference between the bid and ask price of your chosen crypto pair – are part and parcel of online trading. The exception to this is Libertex – which allows you to day trade crypto without paying any spread at all.

• Changelly partner with major crypto exchanges such as Binance, Poloneix, CEX.IO and many others, trading on your behalf and finding the best prices on all crypto, so you don’t have to.
• Decentralized exchanges, for instance, don’t always allow users to deposit dollars and exchange them for crypto.
• The data is gathered faster since it is an on-chain system, allowing users to be up to date regarding any sudden changes in the market on a priority basis.
• IPOs are often accompanied by much hype, which can sometimes lead to unrealistic expectations.
• Most platforms use a tiered maker-and-taker scheme to schedule their costs.
• As we explain later, there are no best currency pairs for swing trading in crypto.

Convert a coin to cash or other coins without influencing its value. It implies that an exchange must have large volumes of orders every single day. A crypto exchange with good liquidity enables you to trade instantly and seamlessly. Cybercriminals stole at least USD$10 million in digital currency from crypto exchanges or projects. Therefore, before investing in any crypto exchange, consider researching their history of cyberattacks or theft.

How to Use a Crypto Day Trading Platform

Having a stable and reliable day trading platform in all market conditions is crucial for traders that can place large pending orders on small timeframes. The fees on Bybit for spot trading start at 0.1% and decrease with higher trading volumes for the month which is similar to Binance. For perpetual and futures trading, the transaction fees are 0.01% and 0.06% for makers and takers. In comparison to similar exchanges, the fees are very competitive and offer good value for money for high-frequency crypto traders. The provider also offers Coinbase Pro – which is more conducive for day trading. Here, fees are lower and you will have access to more trading pairs.

News & World Report, where I also launched several newsletter products. My work has appeared in TheStreet, Mansion Global, CNN, CNN Money, DNAInfo, Yahoo Finance, MSN Money, and the New York Daily News. I’m an alumna of the London School of Economics and hold a master’s degree in journalism from the University of Texas at Austin. https://xcritical.com/ To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners. Good customer service options, including a chatbot and phone support.

When it comes to finding a trading pair with deep liquidity, FTX is a go-to destination with its advanced trading platform. However, for day traders in the U.S, there are limitations on the FTX.US website that day traders should be aware of. At the time of writing, KuCoin is the 5th largest exchange that comprises mostly altcoin trading pairs on the spot market. The top cryptocurrencies that are being bought and sold on KuCoin currently are Terra, ApeCoin and Dogecoin. Often referred to as the best altcoin exchange, traders are spoilt for choice with access to deep liquidity on emerging and popular altcoins other than Bitcoin and Ethereum. This makes KuCoin one of the best platforms for day traders with an eye on the altcoin markets.

This is a prominent crypto day trading strategy in which you buy crypto in one market and then sell it in another. The difference in the buying and selling price point is called ‘Spread’. If you’re looking for a fast and scalable crypto for day trading, Solana is a terrific option. This coin can handle up to 50,000 transactions per second, which is incredibly fast compared to other blockchains. Additionally, as Solana’s transaction fees are very low, you won’t have to worry about losing money on fees. Day trading coins are all about the low market caps and high daily trading volumes.

Given its bullish price so far, we rate this new crypto coin as one of the best cryptos to day trade. As a project with high demand, IMPT can be an excellent choice for day trading. It has a huge community and investors who are looking to stock up as well as trade with IMPT tokens.