Crypto assets are highly volatile. These last few months they have shown enough unpredictability that traders capitalize on them for beneficial day trading. Let’s talk about best crypto exchange for day trading and how this strategy works.
Crypto Day Trading
Basically day trading is a short-term buy and sell of crypto during a day. It is a high risk trading strategy however it gained enough popularity because of the volatility of crypto assets. Traders, who have deeper knowledge of crypto and blockchain, efficiently use this to gain success.
Day trading has only one goal – immediate profits. Therefore they rely on in-depth knowledge and use of tools such as stock screening or trading simulator software to capitalize on opportunities.
Apart from volatility of crypto markets, another reason why day trading became so popular is the 24*7 markets. Crypto exchanges operate round the clock and at different global locations. This creates a lucrative opportunity for those who know how to capitalize on it.
However to be a successful day trader, the most important step is to choose an efficient platform. This brings us to the topic of this blog, best crypto exchange for day trading.
Location, Exchange Liquidity, Crypto asset liquidity and fees are factors to consider before choosing a trading platform. Connectivity with other exchanges is also important as low latency means you lose on those minute changes in prices.
Some of the major things to consider before finalizing a trading platform –
- Fees
- Connectivity
- Supported Cryptos
- Liquidity
- Deposit Methods
Best Crypto Exchange for Day Trading
Our review on best crypto exchange for day trading is based on low fee, high liquidity & large number of supported cryptos. Let us take look at best crypto exchanges for 2022 –
Binance – Overall Best Trading platform for 2022
Binance is currently the largest crypto exchange by trade volume and has presence in major global markets. Although for some users, the platform is not that user-friendly. However Binance offers huge array of crypto assets and there is no account verification for level 1 users. The exchange is better suited to professionals and experienced traders.
Coinbase – Best trading platform for day trading for beginners
Coinbase is another popular exchange. However it is a centralized exchange which makes it costlier. The fees can add up to more than the competitors. It has user-friendly interface and provides educational content for beginners. Coinbase also provides access to NFT markets and provides strong storage and security of crypto assets.
PlatinX Exchange – Overall best crypto exchange for Day Trading
PlatinX Exchange provides a smooth, seamless trading platform that relies on P2P trading methodology. Users can easily create account and the shop for crypto assets from other sellers through their ads. This reduces the need for intermediary and decreases the cost of trading drastically. PlatinX Exchanges provides more than 100 crypto assets and a highly liquid trading platform.
Crypto.Com – Best Exchange for Day Trading in Diverse Markets
Crypto.com allows you to trade crypto assets and charges low fees. It is suited for day traders who want to invest in wide variety of crypto assets. This exchange is user-friendly for beginners however it lacks educational content. Crypto.com operates on a maker/taker pricing structure, which is particularly useful for day traders.
Gemini – Another popular app for day trading for seasoned traders
Gemini is a good trading platform for both seasoned as well as novice traders. It has easy to navigate interface and provide high security which involves cold storage as well as insurance against cyber hacks. However, the down side is that the fees can be high when you day trade. Gemini is trusted exchange of institutional as well as individual investors.
