For those of you who are just getting into the cryptocurrency craze and wondering what Crypto Leverage Trading platforms to go with, the Don’t Want A Boss is here for you. I picked through the top crypto exchanges to determine which ones would suit you best. We looked at a range of factors, from their features all the way to their customer service.
But before jumping on the excitement by showing my top 4 lists, I’ll explain shortly what Leverage Trading is all about.
Simply defined, Leverage trading refers to a strategy that allows investors to perform spot trades (buy and sale) using borrowed funds from brokers. Typically, these funds surpass the traders’ account balance. So it is a great way of maximizing profits when day trading by increasing purchasing ability. The best part about this type of trading is that it can be done with a few amount of money.
For example, If you have $1000 in your account and want to buy $10,000 worth of bitcoin with it, you have $9,000 in extra funds, making your position 10 times larger than what you have in your account. This means that if you execute a profitable trade and the value of bitcoin increases by 10%, you will benefit 10 times more than if you bought 1 BTC for $1,000. However, if the price drops 10%, you will lose 10 times more money than if you had purchased 1 BTC for $1,000.
However, always keep in mind that Crypto Leverage Trading has a high level of risk and can result in significant losses. That is why using the proper risk management strategy is really a great way to minimize your risk when you’re trading crypto on leverage.
My Top 5 Crypto Leverage Trading Platforms
Here is a short summary of the most popular crypto leverage trading platforms including their features, fees, leverage amount, customer service, and security.
Binance is the world’s largest cryptocurrency trading platform.
It is currently the world’s largest Crypto Leverage Trading platform. Binance leverage trading is available on Android and iOS mobile devices. It is the most popular trading software due to its simple user interface and hassle-free operation. You can check your profit and loss, as well as acquire information about your trade history, using the app. To use the Binance leverage trading feature, you must first complete the KYC process.
Binance offers a comprehensive range of trading options via its desktop or mobile dashboards, including an excellent variety of market charts and hundreds of cryptocurrencies. Users can also choose from a variety of trading choices, including futures and options, as well as a variety of order forms. However, many options and services are not accessible in the United States, and only 65+ cryptocurrencies are offered to consumers in the United States.
Depending on their prior expertise and education, investors may face a steep learning curve with Binance.
With Binance, you can:
- Organize and execute orders efficiently because of its UI
- Trade on spot transactions and futures trading, with their leverage offering up to 10x and 125x, respectively.
- Trade with around 200 different crypto coins.
- Earn interest can be earned on bitcoin in a savings account.
Bybit exchange specializes in derivatives trading and was founded in 2018. Bybit is perfect for obtaining maximum liquidity for leverage trading and on top of that, beginners can also benefit from the ByBit mobile app’s user-friendly design and use its insurance money to cover damages in the event of bankruptcy. It has around 2 million active users and is based in Singapore.
Bybit is known for its robust system in crypto trading, such as:
- Setting up take profit & stop loss at entry, receiving strategy alerts, and adjusting your order(s) with one click.
- Offering the best-in-class market depth, each trade is executed with minimal price impact.
- Their industry-leading HD cold wallet system guarantees the safety of your funds.
- A Bybit demo account is available on the site, allowing users to practice trading without risk.
- Conducting high-frequency trading with lightning-fast market updates with our powerful API.
Phemex is a Singapore-based exchange that launched in late 2019. It supports eight languages: English, Spanish Russian, Japanese, French, German, Korean, and Chinese.
Phemex provides a variety of services and products that are quite useful to customers. Phemex offers leverage trading as one of its great advantages and allows people from all over the world to trade crypto in a secure and easy-to-use environment. Phemex’s efficiency is quite high since it is now ranked #6 in terms of daily trading volume. Different trading techniques can be used securely here.
Phemex has quickly attracted over 50,000 new customers and over $700 million in daily trading volume, placing it among the top 40 derivative exchanges according to Coinmarketcap.
Phemex has these awesome features:
- The platform includes derivatives trading with up to 100x leverage and settlement in BTC or USDT.
- Another advantageous characteristic of Phemex is that no KYC is required to begin utilizing the site.
- it is highly user-friendly. Beginner trades would have no trouble navigating the site and beginning to trade volume. The website also includes a wallet interface, which benefits them even more.
- Phemex also provides spot exchange at zero fees. This site function is extremely popular among users.
- A Phemex demo account is available on the site, allowing users to practice trading without risk.
FTX is a cryptocurrency exchange located in the Bahamas that provides powerful trading tools as well as access to a large number of cryptocurrencies. While it has minimal costs and an easy way to acquire cryptocurrencies directly, newbies may find the platform overwhelming and prefer to invest in cryptocurrency elsewhere because of the learning curve.
Users can buy, sell, and trade accepted coins on FTX. It also provides crypto borrowing and lending, as well as access to leveraged tokens and NFTs, as well as trading challenges and leaderboards. FTX now supports over 300 coins, with more being examined and offered on a regular schedule.
US residents need to use FTX.US as FTX is not applicable to residents of the USA.
Here are some key features FTX has to offer:
- FTX supports over 275 cryptocurrencies, so you should be able to find some coins that you are ready to invest in.
- Beginners can do spot trading with FTX, while more experienced traders can trade futures, stocks, leveraged tokens, and more. There are numerous options available irrespective of your level of crypto experience.
- Deposit in 10 different fiat currencies without costs, and trade with maker/taker fees as low as 0.02/0.07%. If you are a high-volume trader and own FTT currency, you can get a reduction in your fees.
My Final Thoughts
You should have a good grasp of the top crypto leverage trading platforms in the industry by now. I strongly advise you to always do thorough research when dealing with any kind of leverage or day trading on these platforms and make sure to take the time to learn about the particular features and hazards that come with it. Keep your money on these exchange platforms for as little time as possible for maximum security.
Another great way to have safe trading is to have a list of useful crypto trading tools you can have around you in order to trade with ease.
So, if you’re interested to start trading, don’t worry. I’ve got that all covered. Just click on this button below for more info: