Crypto, Bitcoin and alt coins can be a confusing space – so how do you know the best trading platform for cryptocurrency? We give you the top 5 platforms.

First off, what the check is cryptocurrency? Well to put it quite simply, it is a form of currency that is digital or virtual.

No, I’m not referring to the kind that your partner collects in his videogame account for hitting certain levels or completing certain tasks of the game!

We are talking about actual money in digital form! Let’s review different trading platforms and exchanges that you can utilise to buy, sell or trade different cryptocurrencies. After all, your decision to on what platform to trade crypto on is as important as which shop you go shopping in!

Best Platform To Trade Crypto

Best crypto exchange to trade alt coins: Binance

As a Crypto trading platform, Binance is the leader. It is the largest crypto exchange and cryptocurrency trading platform out there. They have the biggest range of altcoins available and that number just keeps rising by the day! This is honestly the place to be whether you are a beginner or a veteran in altcoin trading. This platform is used by day and swing traders, plus investors. It is not leveraged trading but rather buy and sell. Who doesn’t like having options?

As women, we need options! Binance has them in terms of alt coins and trading options.

Best crypto trading platform for margin and leverage trading: Bitmex

Bitmex is mainly an exchange for bitcoin and retains quite a bit of leverage. While they do offer demo accounts, it is not for beginners. They do not offer fiat exchange, meaning you cannot directly transfer your dollars or Euros for trade of crypto. You can only utilise bitcoin cash as a form of currency. As a crypto trading platform you can really scale up your profits with leverage, but equally the risk is higher and losses can also be.

bitmex is a great exchange for margin leveraged trading, so it best suits day traders and scalpers.

Best platform to buy bitcoin: Coinbase

Coinbase is a digital currency exchange that is more suitable for longer term holders like investors and swing traders. It however, is not a trading platform, but the easiest way to buy bitcoin. You can also buy other larger altcoins such as: litecoin or Ethereum. You can then trade those altcoins on other exchanges such as Bitmex.

Coinbase is one of the easiest ways to buy bitcoin.

Best platform to trade cryptocurrency: Plus500 and eToro

Plus500 and eToro are platforms that also have crypto trading. These platforms, however, do not have crypto deposits, they only allow fiat exchange and CFD trading (margined trading). It means they’re strictly crypto trading platforms and not crypto exchanges (as you’re effectively not owning or exchanging any coins / cryptocurrencies. Although they do have demo accounts. As a platform to trade crypto on they work extremely well.

The nature of CFDs make them great trading platform for cryptocurrency with low entry/exit costs suitable for high frequency. It also simplifies entering trades as you don’t technically need to buy and sell coins which in itself isn’t always easy.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best platform to copy crypto traders: eToro

Studying any market you are actively trading is a lifelong commitment. There will never come a day that you will know everything about it, as hard as that is to believe! Yes, put your pride aside and accept that fact. eToro is a great platform that allows you to view, follow and copy the top traders. This gives you an upper hand on making efficient trades because you are copying those of trading veterans!

Cryptopia

Cryptopia is a crypto exchange that is best for small cap alts. It has a rather low volume, making it harder to trade than Binance. However, don’t let that fool you! There are some great smaller gems. It is for buying and selling, not for leveraged trading, making it suitable for swing traders and investors. Low volume and no leverage means it is less suitable for day traders and scalpers.
Update: Cryptopia suffered security breach in early 2019, it has recently relaunched.

Coinigy

Coinigy is a digital platform that gives you access to 45 platforms. You will need to create accounts on these individually to use them. Once you have them you can trade high volumes, quickly across all platforms. It is also set up to spot arbitrage, meaning you will be able to see if the price is different elsewhere! Coinigy is a great platform to trade crypto on if you use more than one crypto exchange. It is aimed for more intermediate/expert traders/investors.

Unfortunately, beginners won’t get value from it. Not to worry though, you will be there in no time!

Your best trading platform for cryptocurrency?

So what is your favourite crypto exchange? What platforms do you like to trade cryptocurrencies on? What is the most reliable crypto trading platform?

I’d love to hear your thoughts – leave a comment below!

Don’t forget to check out the full crypto summary on where you can buy, sell and trade bitcoin and crypto alts.
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