The use of cryptocurrencies has expanded within the past several years. There are more people consider using digital currency for day trading rather than sticking to traditional money. Even though the crypto market is loaded with exchanges, not all of them meet the requirements for such transactions. When choosing the right trading platform, coin holders should consider not only the profit they can get but also the safety of their personal data and finances. Signing up for one of the 5 best exchanges for day trading will give you a nice start.
The best crypto exchanges for day traders
Trading platforms differ in such features like fees, reputation, payment methods, exchange rates, verification procedures, and many others. It’s up to you to decide which one of them plays the most important role and will lead to the right choice.
The exchange will be more convenient for professional traders rather than for beginners. It’s not a typical trading platform as it offers leveraged contracts in Bitcoin. It also has a quite complicated interface that not all newcomers will be able to figure out how to work with from the first time. BitMex does not charge anything for deposit/withdrawal and offers its users a rebate of 0,025%. In order to protect financial operations, the exchange uses multi-signature deposits and withdrawal schemes.
p2pb2b was founded in 2014 and made a complete update after 4 years of work. The exchange offers a variety of trading pair of the most famous currencies. The funds are kept safe, stored on cold wallets and protected by a 2FA system. The platform meets the requirements of both beginners and professional traders. The interface is user-friendly and understandable. p2pb2b charges only 0.2% trading commission and has no fees for the deposit of funds. Moreover, the team constantly motivates its users and holds competitions where anyone can get certain rewards.
One of the oldest exchanges among presented. Bittrex charges quite a high trading fee at 0.25% but has a variety of trading options for personal and corporate accounts. It claims to be one of the safest exchanges, as it uses elastic multi-stage wallet strategy which helps to store up to 90% of funds offline. To start trading on the exchange, you should verify your identity. Basic account requires only name, address, and date of birth, while for enhanced one you will need to provide ID along with the just-made picture of you.
Kraken has the biggest Bitcoin trade in euro volume and liquidity. The exchange has made a simple registration process which only requires to submit their address to make deposits, withdrawals, and trades. Even though the platform has a mobile app version, it’s better to use the website for your operations. Kraken has its own fee schedules. The more total volume a user trade the lower fee he pays on subsequent trades. The security is also placed in the first place. All new deposits and most of the coins are stored on cold wallets that are encrypted.
This trading platform offers to start trading with a quite low fee of 0.1%. All the information is protected by a multifactor dynamic authentication. The platform also uses bank-level security of assets and apply multiple security levels to the wallets. The interface is quite simple to understand. Besides, the exchange has its own coin called KCS. By using and holding KCS, users can save money on trading fees and get additional tokens.