If you search the internet for the best crypto exchange for day trading, you come across many options, including online crypto exchange services. These options include KuCoin, ByBit, CoinBase, Binance, and many more.
The one point which should be clear to the investor is to be particular about the kind of crypto exchange. Specific parameters determine the best platform for day crypto trading. These parameters include crypto day trading strategies, trading fees, margin trading, derivatives trading, trading pairs, online availability of crypto day trading platforms for crypto day traders, advanced trading tools for increasing trading volume, automated trading strategies for day trading, low trading fee for mega investors and experienced traders, availability of crypto assets and fiat currencies for monthly trading volume, tools for advanced trading and to analyze market trends, provision of platform’s advanced trading tools for beginner traders to increase their trading volume along with low fee structures, technical analysis, trading bots, technical analysis tools for crypto day trading profitable for both novice and experienced traders.
The primary aim of the best crypto day trading is to offer high-frequency trading, which makes the high trading volumes. At the same time, cryptocurrency exchanges can allow trade execution without hindrance.
The blog is about the top 7 best crypto exchanges for day trading. The blog is an opportunity for beginner and seasoned traders to maximize their knowledge and dive professionally into the cryptocurrency ecosystem.
This blog will discuss Binance, BayBit, CoinBase, Kraken, KuCoin, BitFinix, Houbi, and BitStamp. Initially, we will begin with the shallow information and slowly move toward the complex information for a better understanding. Let’s start our blog.
How To Define Day Trading?
Day trading is one of the renowned strategies, which includes selling and buying cryptocurrency for a short period to take benefit out of price fluctuation. Now, the question arises what are the requirements of day traders? Let’s find the answer to this question.
Requirements Of Day Traders
The requirements of day traders include the platform’s reliability for good reading of charts and for analyzing market trends. Day trading is one of the time taking, laborious methods. Choosing a day trading platform requires careful consideration to make the rest of the process easier for the day traders. The requirements of day traders also include the following:
Crypto Day Trading Strategies
There is a long list of crypto day trading strategies that can make the best possible profit out of this laborious and time-consuming matter. A crypto day trader must find a crypto exchange that provides the best strategies for day trading services.
Competitive trading and transaction fees are among the most significant issues for all investors. Experienced and novice traders need to find a platform with low trading fees. The reason behind this is that the earned profit is sometimes equal to or surpasses the withdrawal fees and trading fees, which makes it difficult for traders to carry out trading activities in the cryptocurrency ecosystem.
Low fees/ very low trading fees are the most significant requirement of all novice and experienced day traders in trying their luck in cryptocurrency.
How To Evaluate The Best Crypto Day Trading Platform
It is tricky to find out the best trading platform. It is not as tricky as it is. All you must do is check certain aspects and features in the list of cryptocurrency exchanges, making the choice easier. Let’s go through this detail in this section.
Very Low Trading Fee
If you are a novice trader, all you want will be low trading fees; the reason behind this is that small trading costs more trading fees as compared to mega capital investors. For initial traders, the criteria should be solely dependent upon the trading, which should be zero to a minimum.
Secondly, the variety of trading pairs is an important aspect that should always be addressed after the low trading fee. The more trading options you choose, the more trading pairs you will make; seasoned traders must make a variety of trading pairs in a single day due to the high trading ratio.
Wide Range of Fiat Currency/ Digital Assets
The third aspect needs consideration of the availability of cryptocurrency options. The more options a cryptocurrency will offer, the more diverse trade will be.
Security is one of the essential factors. No one wants to lose their lifelong investments in a single go. Before choosing the right option for investing in the cryptocurrency business, it is always important to list crypto exchanges offering high security for day trading. Various options offer many security measures, including the two-factor authentication method, cold storage, and many others.
The last but n least option is the order execution. No one wants a slow service when it comes to the cryptocurrency business. Within a matter of seconds, there is a rise and drop in cryptocurrency prices.
The faster an order executes, the more trading opportunities are expected to grow. The evolution criteria include fast order execution in the high liquidity pools and the fastest order matching engines.
Till there, We have a detailed discussion about the fundamental points required for choosing the best cryptocurrency day trading service. Now, we will go through the options discussed in the blog. Let’s go through them.
The first option for crypto day trading services is Binance, ranked number one among the compiled list. There are palpable points as well as some loopholes in Binance, which are mentioned in the proceeding lines:
- It is one of the very famous crypto exchanges.
- It offers the option of 500 plus cryptocurrencies for day trading.
- It offers P2P trading and a two-factor authentication process.
- It supports fiat currency acquisitions and emphasizes the KYC and safety of wallets and the overall platform.
It is one of the most challenging and intricate platforms for novice and beginner traders.
It offers cryptocurrency services in over 180 countries and is one of the most famous data trading platforms with the highest trading rate and features. Certain features make it one of the most promising crypto exchanges. These features include
- The user-friendly interface,
- Low latency,
- Low fee structures
- High liquidity and
- Non-stop order execution
Is Non-Stop Order Execution Important?
If you are wondering about this question, the answer is yes. Non-stop order execution is an advanced technology that makes Binance one of the most significant platforms to sell your digital assets at the very moment when they reach a certain price level. With this advanced technology, repeatedly monitoring the price is no longer required. Additionally, it helps the traders to lose their values on trade assets.
No Need To Keep An Eye On Price Charts
It is one of the most popular trade centers for day traders because this feature makes day trading worth the benefit. The constant struggle of keeping an eye on crypto assets does not allow a person to take a rest or shift his eyes to something else. The non-stop order execution removes this hustle. In addition, Binance offers the top trading volume, which makes crypto trading on the Binance platform an excellent option for day trading.
For security purposes, this platform offers a two-factor authentication process, 2FA. This system works like an extra layer of protection for the users. This extra layer enhances the security of the digital accounts. This security works more than a username and password kind of security system.
Wide Variety Of Digital Assets
Binance offers its users a wide variety of digital assets. The traders have a long list of cryptocurrencies to do the day trading. It should be kept in mind that not all cryptocurrencies are suitable for day trading. Certain currencies are suitable for this work. Some currencies are highly volatile or have high liquidity.
Nothing much to worry about because we also offer a handful of information about the range of cryptocurrencies to choose the best for your day trading option. To get a detailed idea of choosing the right cryptocurrency for day trading, go through the educational tools and resources offered by the Binance platform to have a much-informed decision. The resources also involve real-time price updates, market and data analysis, customized graphs, charts, and more.
The list has yet to stop. The speed of order execution and liquidity are the critical factors that can be counted for choosing the best option for the best crypto day trading platform and cryptocurrency. The matching engines offered are the ones that can complete the whole process of day trading spontaneously, which means that Binance offers the best possibility to peep into the world of opportunities whenever required.
This platform also offers futures contracts and margin trading. These two features also benefit traders from price fluctuations and leverage. Binance is one of the leading platforms offering many more features and possibilities that can be availed on the requirement. It is in the process of constant evolution, which is adding more exciting improvements. These improvements offer a better trading experience for the users, making it one of the leading and renowned platforms for traders.
It is ranked number two among the rest of the crypto exchanges.
It has certain prominent features, which are mentioned in proceeding lines:
- It has a meager trading fee.
- It shows an expectational functionality when it comes to crypto day trading.
- It offers mobile trading applications and customer support, providing complete help and guidance to novice and experienced traders.
- It offers leverage of up to 100 percent.
The only loophole of this crypto platform is that it has a steep learning curve for some investors.
It is among the top players in cryptocurrency. It is the best option when it comes to day crypto trading.
Variety Of Order Types
This platform’s specialty is providing a wide variety of order types. There are plenty of features for order types. These features include trailing stop orders, stop limit orders, market orders, limit orders, and much more.
These features allow the day traders more chances to manage their positions for advanced trading compared to other digital platforms, which offer the fundamental order types of features.
Low Trading Fee
Another feature of BayBit is the low trading fee compared to all market platforms. It also offers high liquidity levels. The low trading fee with high liquidity pools allows the quick execution of trade at the minimum cost, which makes it one of the best platforms for day trading.
This platform also offers advanced options if you are wondering about the trade beyond the buying and selling process. It offers a complete platform for almost thing required in day trading. It is regarded as the broadest derivative exchange, which offers leverage for future contracts for traders who want this option.
What Are Future Contracts?
If you are wondering about future contracts, let us explain this in simplified form. Future contracts can be described as business contracts containing information regarding selling or buying cryptocurrency at some specific rates and time shortly.
To make things more straightforward, let us explain with the help of an example if you intend to buy a digital coin at some desired rates in the future. Now you meet with a trader who wants to sell that digital coin at the same price; you both will make an agreement that specifies the time and expiry date, price, and quantity of the cryptocurrency to be bought and sold. This agreement is known as a future contract.
The fundamental element of a future contract is that it permits the traders to assess the price of a specific cryptocurrency without having any idea about that. This feature allows the sale and purchase of cryptocurrency to be profitable through price fluctuations.
Perpetual Future Contracts
Future smart contracts are offered by almost every crypto exchange. What is unique about BayBIt is that it offers perpetual future contracts. These are like future contacts but do not possess an expiry date. This allows the traders to occupy their positions more flexibly and use long-term strategies for future operations. This platform offers leverage up to 100 times and can remarkably amplify trade gains.
Higher Customization Level
A higher customization level is also provided on this platform. The conditional orders are executed based on price alterations and many other factors. Baybit also offers a wide range of tools for technical analysis, which are used to identify opportunities for making more informed decisions.
Baybit offers a wide range of extensive features and an interface that is very user-friendly. Collecting all these features offers the best opportunity for investors who want to step in and learn about day trading. It offers training, experience, and knowledge about overall trading in a premium manner.
Coin base is ranked at number three in the rating of cryptocurrencies for day trading. Its prominent feature is to keep the investments secure and safe to the maximum point.
- It accepts and offers maximum fiat currencies,
- It is simpler to use.
- It accepts cryptocurrencies which have built trust over a period.
- It is very secure to use.
It has the following loopholes:
- It is unavailable globally.
- Less famous countries should be supported on this platform.
It is one of the strongest competitors for secure day trading. It also offers a variety of features for investors. It is designed to keep security levels to maximum heights. You can understand with an example. Customers’ funds are stored in cold wallets, making them invulnerable to hackers and other fraudulent activities on online forums.
Advanced Security Protocols
It offers advanced-level security protocols, including email verification, 2FA, insurance protection, etc.
Best Crypto Tools For Day Trading
Investors must choose the option offering the best security protocols and advanced crypto tools for day trading. It offers the features of advanced trade. There is a whole section dedicated to advanced trade on CoinBase. It also offers more options regarding the trailing stops and limit orders which is one of the valuable options for day trading.
The trading fee is higher as compared to the other trading companies. It is because enhanced security and fast order execution requires more effort and money. It also offers a long list of payment methods, including bank transfers to credit and debit cards. These features make the trading fee worth paying.
Legal Resolution Resolved
Another critical point in this platform is that it has fulfilled all the legal regulations and compliances. It is a crypto exchange which has fulfilled various legal jurisdictions and is fully licensed. It is legally available in Europe, America, the United States and Asia. It works with the described rules and regulations, which comply with country rules and laws.
Reliable And Safe
Due to all the features mentioned, Coinbase is considered the safest and most reliable choice for day trading. In addition, it is not only usable for day trading but also offers mobile friendly application. The mobile application is compatible with Android and iOS phones and offers functionality and features for both desktop and mobile screens. It also includes charting tools, real-time price updates and an order management system.
The most notable feature of Coinbase is its notification alert system. The users can get price notifications, which is helpful for day traders. With the help of these notification settings, day traders can get notification updates on time. With its user-friendly interface and other powerful features, Coinbase is the most excellent tool for day traders who want to relate to market trends.
To conclude the discussion, Coinbase is regarded as the top priority for day traders who want a secure platform and a user-friendly and fast interface. The wide selection of cryptocurrencies is also appreciable.
It is ranked number 4 among all the cryptocurrency exchanges. It is famous for its quick and budget-friendly trade options.
It has the following points which are considered as positive.
- It is one of the most reliable and secure platforms.
- It takes a low fee from traders.
- It has a variety of fiat currencies which are accepted for trading sessions.
The loophole of Kraken is that it needs impressive customer care service.
Kraken is among the best crypto exchanges in the day trading crypto exchanges list. It allows access towards a long list of crypto coins. In addition, it also offers advanced order types, making Kraken one of the ideal crypto exchanges for novice and seasoned traders.
It provides the best trading tools in the crypto market and the most competitive price range. These features allow its present position among the best crypto trading platforms.
If we view this platform overall, affordability is the primary selling point. This platform offers charges which start from the bare minimum, which is zero per cent for new orders. The traders who want to occupy a wide range of positions, this platform is one of the ideal platforms for offering accessibility to minimum costs.
Swift Execution of Orders
The next notable feature of Kraken is the rapid execution of orders. It does not matter whether a trader has a high-cost or a minor possible order; Kraken is accustomed to swiftly completing it. This feature reduces the risk factor when the price fluctuates in the market. Risk is managed because price fluctuations prove problematic for traders in delayed trade sessions, but the swift order completion does not affect the trader’s investment at any cost.
Another noble point of Kraken is its high liquidity. The high liquidity focuses on quick order completion and less slippage. The readers must wonder why all these factors are essential and to what extent.
The answer to this query is that there is a price difference when a trade is expected versus when a trade is carried out. The actual trade may surprise the trader, and no one likes to be surprised by cryptocurrency. All traders want to have a trade with a low slippage ratio.
Advanced Crypto Tools
In addition to offering a user-friendly interface, certain features make it one of the best platforms. It possesses advanced charting tools along with specific indicators. These tools and indicators make the day trading marketing trends easier to analyze. It also offers an easy navigation interface as an advanced crypto tool.
It also offers margin trading with five times leverage. If you are thinking about margin trading, let us explain this. Margin trading is the trading session which allows the traders to borrow some funds from the lenders moving inside the platform for investment. In this way, they maximize their range of funds so they can take part in trading activities beyond their trading limit. In the same way, leverage is trading power which is increased with the margin trading. It is the ratio between your assets and those used for the trading sessions.
Kraken has a remarkable reputation when it comes to customer care. It is one of the platforms which shows excellent help and support to its customers. It has 24/7 customer support service, which responds to and helps in problematic situations.
Some famous and knowledgeable professionals offer services to assist traders with any issue or question.
This point is helpful for day traders who want a quick response regarding their issues in day trading. On an overall note, it is one of the excellent options for day traders who want to have a trade session with a low fee ratio, high liquidity, advanced crypto tools, margin trading, high leverage and maximum turnovers.
It is rated number five out of all-day trading crypto exchanges.
The positive points include the following:
- It offers anonymous trading sessions.
- It is a secure platform.
- It offers support to a large range of cryptocurrencies.
It offers quite a low trading volume.
It is named one of the crypto exchange leaders offering access to various markets. Many useful features make KuCoin secure and the best crypto in the list of day trading.
Multi-Level Market System
This best crypto exchange for day rading offers a multi-market system. This system allows day traders to access various ecosystems with certain clicks. The traders here also profit from the difference in the price of different digital coins. The ratio of getting benefits from the different pairing systems also runs in the KuCoin platform.
Multiple Trading Options
This platform offers various options which help the traders to have a concrete knowledge of the trade execution process. The traders have complete options: either to get the long-term benefits or to dive into the short-term benefits. Some features allow portfolio managers, token conversions in a direct manner, flexibility, and much more.
This best crypto exchange for day trading offers the liberty of using the current cryptocurrency for the benefit of users. This means that the crypto day traders are not compelled to convert their cryptocurrencies to Ethereum or Bitcoin for trade sessions and, later, convert them back to their respective cryptocurrencies.
KuCoin also offers a fee structure that is very much competitive. It allows traders to make quick and large benefits from small capital investments. The range varies between 0.005 percent to 0.1 percent, depending on the traders’ tier level. It is one of the useful options for traders who want to try their luck initiating their journey for the day trading sessions.
There is another advantage of KuCoin. KuCoin offers a user-friendly interface. This platform offers a quick navigation system, making it much easier for traders to have the required information quickly. With the required information in a quick way, the traders can carry out the trader sessions with a single click.
The user-friendly interface and the provision of required I=knowledge in an oversimplified manner make it more adventitious for day traders who want to take quick measures for carrying out trade sessions.
Advanced Trade Tools
In addition to all the features mentioned earlier, it also provides its users with advanced-level trading features designed for the successful execution of a trade and can maximize profits in no time. The tools offered for the advanced trade include the tools required for technical analysis (candle stick charts, set up for stop loss and take profit, price alerts, and much more.
These features are quite adventitious for day traders because they offer price execution and technical analysis like no other cryptocurrency exchange can offer. If you are looking for a crypto exchange for day trading, remember these features while selecting the required crypto exchange.
KuCoin is best known for the strong security measures provided to traders and investors for the best quality time free of any security breach and security threats. This platform offers a variety of security measures that are required to protect data, funds, two-factor authentication, cold storage for the trader’s assets, and anti-phishing codes.
This best crypto exchange for day trading offers trader confidence that they can trade with maximum security and that their assets are safe and secure. With the help of the above-mentioned excellent features, a wide range of options for day trading, and a competitive fee structure, it is one of the best platforms. Traders should take advantage of these options quickly.
It is ranked number 6 in the list of all cryptocurrency exchanges used for the day trading sessions.
It has the following positive points:
- It has beneficial customer support.
- It accepts fiat payment options.
- It is an established platform with reliability.
- It offers to trade at a meager trading fee.
The only point that can be included in the loopholes is that it is not a good option for novice traders with a small capital investment or a small number of cryptocurrencies because this platform only supports a few cryptocurrencies.
BitStamp is one of the best cryptocurrency exchanges for day trading, which offers a safe and straightforward platform for day traders to carry out crypto day trading activities.
The finest advantage that this best crypto exchange offers is in the form of fee structure. It is impossible to avoid the long list of contenders, which is increasing daily for day trading. This platform offers the day trading session in GBP, EUR, and USD. It also provides withdrawals and deposits through USD Coin and PAX. Additionally, this day crypto exchange offers trading pairs and a user-friendly interface.
Compliance With Regulatory Authorities
Another aspect that applies to Bit Stamp is that it is fulfilled all the rules and regulations provided by regulatory compliance. Specific day crypto exchanges lawfully offer their services. Security and legal compliance offer the trader immense peace of mind because safety and security are the primary need of every trader. The critical aspect of this crypto exchange is that it provides complete legal services for crypto and fiat currencies.
Partner with Major Financial institutions
Along with the features mentioned earlier, this day trading crypto exchange is paired with other more extensive financial institutions, which include Bank Frick and Swissquote, which allow easy navigation and fiat-crypto transactions. The liquidity levels are also highest in this day crypto trading exchange. It is one of the best crypto exchanges for day trading because it offers security and credibility at the same spot.
Last but not least, the most prominent feature of this day trading crypto exchange is that it offers customer support, which is unmatchable. It has a whole team for customer support, offering quick responses through various channels. These channels include social media as well. BitStamp has an active presence on Telegram and Twitter as well. If you are trying to invest in BitStamp for a day trading session, ensure they are on all social media handles and other customer support channels.
Overall, BitStamp has earned much reliance and public support over time. It offers versatility, customer support, advanced features, low fee structures, and a reputation for being a helpful overall platform, which is exceptional.
It is ranked number 7 on this list.
- It offers low trading fees.
- It provides a user-friendly interface.
- It offers cold storage and the option of saving crypto through offline platforms.
- It provides customer support which is present 24/7.
The only cryptocurrency that only cryptocurrency this platform offers is different from regulatory compliance.
This cryptocurrency exchange is worth the attention of crypto day traders because it is regarded as one of the best crypto exchanges for day trading if you are wondering why, there are plenty of reasons why you should choose this crypto day trading platform.
This platform offers enormous cryptocurrency, which can be used for trading, selling, and buying. The amount of cryptocurrency recorded at this stage is over 700. This range includes all crypto assets, some less famous crypto coins, and fiat currencies. There will be many assets that you have never heard of.
The trading fee is another outstanding feature of the Houbi, the best crypto exchange for day trading. It offers the lowest fees for crypto day traders. It also provides a tiered model which determines the fees depending on the trade ratio. The maximum price is only 0.2 percent which gets lower on every tier.
This platform offers professionalism and a tier-based fee system, but does this make it one of the best crypto exchanges for day trading? No, there are more to come. There is another aspect which is weight heavier than any other feature. The Houbi system saves traders’ investments in cold storage, which is the best option for crypto day trading.
This platform offers customer support, which is available 24/7. Customer support is speedy and prompt and consists of professionals who solve every problem within minutes.
The features mentioned earlier are enough to state this platform as one of the best crypto exchanges for day trading. Crypto-day tradings are always looking for crypto exchanges which offer them high trading volume at a low trading fee. Houbi provides all required services at a meager rate along with the tier fee system and security which is unmatchable.