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Home Tech Top 3 Platforms for Crypto Trading Platforms Right Now

Top 3 Platforms for Crypto Trading Platforms Right Now

by James Musoba
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Even though the cryptocurrency market is struggling right now with a strong bearish trend, there are still opportunities to make use of. This is especially true if you’re trading cryptos since it allows you to go both long and short on the assets.

In fact, we suggest that you consider selling off some of your long-term investments that aren’t performing as well as you were hoping for, and allocate the funds to a trading account. This way, you might be able to benefit from these highly volatile times.

To help you get started, we took a look at the best crypto trading platforms right now and have listed the top three on this page.

Exchange or broker?

Before taking an in-depth look at our three recommendations, we want to clear one thing up. Should you be trading on an exchange or using an online broker?

There is no definite answer to this question since it all depends on what you’re looking to do with the platform. Most of our readers are already investing in cryptocurrencies and therefore have access to an exchange. If that is the case, we suggest that you consider trading with that exchange since it will save time and effort, and you won’t spread your funds out too much. Also, as you probably already know, when trading using an exchange you buy the actual instruments, while a broker only lets you speculate on price movements.

With that said, there are many benefits to using online brokers as well. Most online cryptocurrency brokers offer crypto trading using Contracts for Difference (CFDs). This is a derivative that allows you to speculate on price movements without buying the assets you’re trading. The benefit of this is that execution times are usually quicker, and in most cases, it’s also cheaper especially if you’re trading a lot.

We advise you to learn more about the advantages and disadvantages of exchanges and cryptocurrency brokers in the UK. But now, let us take a look at our top three picks in September 2022.

Binance

Unsurprisingly, Binance is our top pick for cryptocurrency trading. Based on daily trading volumes, this is the biggest cryptocurrency exchange in the world, and for good reason.

The platform is easy to use and understand, the selection of cryptocurrencies is unparalleled, and it’s perfectly suitable for both long-term investments and short-term trading.

What’s more, Binance is cheaper than most of its competitors and it’s one of the safest cryptocurrency exchanges on the market right now.

eToro

eToro is a legendary online broker that offers forex and CFD trading. For many years, this broker has dominated the online cryptocurrency trading market, much thanks to the advanced and innovative trading tools offered.

With close to 80 cryptocurrencies on offer, this platform provides access to all the main cryptos as well as a large number of smaller ones. Hence, you’ll never run out of good opportunities to make use of.

The platform is also really easy to use, and the social copy trading features can be used to copy other traders which will help you save time on analytic works, while also increasing your chances of making a profit.

The main selling point with using eToro (or any other online broker) is that it is fully regulated and licensed, unlike exchanges. This means that your funds are kept safe, that prices are regulated, and that you don’t run the risk of being hacked through the platform.

Kraken

Lastly, we recommend checking out Kraken. This cryptocurrency exchange has almost the same legendary status as Binance and is a great option for professionals as well as more inexperienced traders.

Similar to Binance, Kraken can be used for investments and trading, and there is a massive selection of assets to focus on. The exchange is also available in close to 200 countries, which is pretty much the entire world.

And if you don’t want to take our word for it, maybe the 90+ million customers can convince you. There are many good reasons as to why and how this broker has become such a big operator in the game.

Based on daily trading volume, Kraken is currently the fourth biggest exchange in the world.

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