Best crypto trading platforms 2020 review
What is the best crypto trading platform in 2020?
In the development of the history of human civilization.
Cryptocurrency trading is now one of the hot business topics.
And searching for the Best crypto trading platforms.
Requires research and references from fellow traders who have used the platform.
As one way to find the best crypto trading platform is to read a review of a site that discusses this case.
At least this will provide information that we have not understood before.
And by using this information in the end we will be able to choose which platform is suitable for our style.
Well, this time we will try to review several crypto trading platforms in the hope that it will provide the best platform overview.
Trading forex, crypto and CFD with TenkoFX
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How to choose the best crypto trading platform?
For beginners in crypto trading, there may still be some difficulties in getting started, and finding the best crypto trading platform.
The following are some points that should be considered when choosing a crypto trading platform.
- Easy user interface.
- Security of funds.
- Good past reputation.
- An easy method of withdrawing funds
An easy user interface to use will certainly speed up making buying or selling transactions.
And it would be better if the platform also supports technical indicators to assist in analyzing changes in crypto trading prices.
Security of funds is a top priority in choosing a crypto trading platform because if the platform is easy or vulnerable to hackers,
this will cause loss of money without us knowing it.
The reputation given by traders to the platform will also increase our confidence in choosing and determining the best platform to use.
Deposit and withdrawal methods that support the ease of making a profit withdrawal are also important to be a concern.
Because although we can make large profits when making a withdrawal we do not find a way to withdraw funds, we will be difficult to make it cash.
5 best crypto trading platform
The growth of cryptocurrency makes many crypto trading platform providers present to provide services to traders.
More than tens or even hundreds of crypto trading platform providers that exist in the crypto market.
But we will not review all platforms.
We will review only 5 trading platforms which we think are the most popular and become the leading exchangers at the moment.
Binance is ranked 3rd based on total liquidity on the Coinmarketcap with an amount of $ 57,202,672 with a 24-hour change of $ 1,288,502,071 USD at the time of writing.
This platform was launched in 2017 and has become a popular exchange with multiple language support.
The Binance platform supports the use of an easy user interface.
By displaying candlestick charts and several technical indicators, which is quite helpful in analyzing market trends.
Besides that, we can also use charts from Tradingview making this platform very interesting.
Moreover, if we buy BNB it will get a trading fee discount of up to 50% and this will be useful to day traders.
And what can make you fall in love with this android platform is that most positive reviews are given on this platform by users.
Some users provide information if entering a referral code will get 5 $ as trading capital.
But for the mobile platform, it seems that it does not yet support all the languages available on the web application.
If you are familiar with English, this is not a big deal.
For fund security, Binance supports 2FA or two-factor identification, which provides good security protection.
But in terms of withdrawing funds, it might be rather complicated because it needs to go through several stages.
For the sake of your account’s security, the process refers to the information on the support page here.
- Attractive web platform with original choices, Tradingview, and Depth market.
- Global access supports many languages.
- A mobile platform application was available.
- The trading fee is only 0.1% and there is a discount of up to 50% with certain conditions.
- Withdrawing money is quite complicated by requiring several steps that take a bit of time.
- Has been hacked in the past, causing users to lose money.
Bitfinex is also a popular exchange platform when talking about crypto trading, this platform is one of the top lists.
If you look at the ranking of liquidity in CoinMarketCap, this exchange ranks second after HitBTTC, while Binance is in 3rd position.
With total liquidity of $ 60,699,904 and volume at 24 hours $ 100,344,454 at the time of writing.
The trading platform used is also very interesting because it uses a chart by Tradingview with an adjustable interface.
- You can set the preferences to create a sidebar on the left or right.
- Manage navigation tickers and save preferences.
- Organize and arrange the Order Book column.
- A Theme that can be adjusted for dark and light, set browser notifications.
Bitfinex security also utilizes 2FA or two-factor authentication, and Universal 2nd Factor (U2F)
Thus the security level of Bitfinex is better than Binance, with support for advanced verification to your account, if you log in using a different IP you will get a notification via email.
While for withdrawals you need verification if you want to withdraw via fiat currency.
But if you make withdrawals via cryptocurrency, verification steps are not needed.
Some points that need attention when verifying are:
- Minimum of 21 years old.
- information on telephone numbers, e-mail addresses, and residential addresses.
- Legal identity cards from government, ID cards, passports, driver licenses.
- Bank statement.
- Proof of residential address, for example, electricity bills of not less than 3 months.
If you have problems with the verification process you can try contacting [email protected]
The data required is to follow the anti-money laundering rules.
Flat money deposits will be charged a fee of 0.100% with a minimum fee of 60 $, check the detail here
- Exchanges with high liquidity.
- Easy to use trading platform.
- High level of security.
- Minimum withdrawal of 20 $, quite high for a beginner.
- Requires verification to use a flat currency that takes a bit of time.
The crypto trading platform from the Kraken is quite unique.
Different from the appearance of Binance and Bitfinex.
On the left side of the candlestick box and tool indicator, the middlebox of the crypto group and its price changes, while the right box is for buying or selling crypto transactions.
There is no chart selection from Tradingview, as it is owned by Binance and Bitfinex, but optional indicators are available as analytical tools.
If you use the default settings, the graph will be too narrow and uncomfortable for analyzing prices and movements.
You need to adjust the width by clicking the bounding button between the boxes.
Kraken is ranked 5th in total liquidity on Coinmarketcap with $ 24,763,161 and a 24-hour volume of $ 106,312,726 at the time of writing.
In terms of security, the promised contract is a top priority, using 2FA (Google Authenticator and Yubikey), and when making a withdrawal requires confirmation of an email.
Kraken sites have used SSL to protect when browsing.
The fees charged by the Kraken are also unique and different from those used by Binance and Bitfinex, they use calculations based on past 30-day activity.
You even get the opportunity to 0% fee if you have more than $ 1,000,000 + during the activity
Detail fees are also different between trading, Stablecoin, dark pool and margin trading.
Visit fee schedule to get more detail information.
For deposit options, you can use flat currency USD, Euro, CAD, but the choice is by wire transfer.
It will be easier if you have Bitcoin or other coins like Ethereum.
The deposit process will be faster than wire transfers with a fiat currency that takes about 5 working days.
You can trade without verification but it would be better if by verification to be able to shift up the withdrawal limit.
Documents for verification are also the same as what is needed in other exchangers, this is basically to prevent anti-money laundering.
- Simple and easy platform to use.
- Allows trading with a 0% fee with certain requirements.
- 24/7 day live support allows contact anytime.
- High liquidity allows easy transactions.
- The trading platform is less attractive.
- No option for language.
HitBTC was first launched in 2013, including one of the exchangers as a longtime player, and ranked first in Coinmarketcap based on the amount of liquidity.
With a total of $ 73,639,350 with a 24-hour volume of $ 554,990,686 at the time of writing.
The trading platform used is also simple but very attractive, with a dark background, it displays a clear graph, open high low close and the volume appears on the chart.
There is no choice of indicator on the original platform.
Only the ema indicator appears as default but you can switch to the chart view of Tradingview, so you can use several indicators.
Below the graph is a chatbox, which can be used for interaction with other users.
For security HitBTC also uses 2FA two authentification from google.
To make deposits using fiat money, they have no way to connect with the system, but on their platform, there are instruments for flat money.
To make a deposit you can buy bitcoin through their partner Changelly exchanger by using a master card or credit card.
While for withdrawals, HitBTC also does not use fiat currency, so you have to make withdrawals in coins supported by their platform, this seems rather complicated for beginners.
But by following step by step, it will become an easy habit.
For withdrawal fees, it depends on market conditions, and they adjust automatically, and not based on the amount of withdrawal.
For trading fees, they hold a tier fee where the greater the volume of BTC trading, the smaller the fee that must be paid, check here for detail.
HitBTC does not require verification, but by following verification procedures, this will get a trading opportunity with a low tier fee of 0.07%, different from unverified, which will be charged between 0.1% and 0.2%
- Easy to use trading platform
- High liquidity.
- Easy registration process
- A large selection of trading assets is available.
- There is no flat currency deposit option.
- complicated deposit and withdrawal methods.
- There has been a disruption in the withdrawal process.
Coinbase Pro is a crypto trading platform that provides crypto lover services to trade cryptocurrencies with a variety of instrument options.
The Coinbase Pro trading platform is ranked 8th in the Coinmarketcap, with the liquidity of $ 16,546,748 and the 24-hour volume of $ 130,537,726. in time writing.
Coinbase offers two types of platform Coinbase pro and Coinbase prime, where the difference is Coinbase pro for individual traders and Coinbase prime for institutional traders.
To start trading with the Coinbase Pro platform, this requires account verification, this requires several documents in the requirements.
The crypto trading platform used is also simple but still easy to use in navigating existing features.
There is no chart display from Tradingview on their platform, there are only two indicators for EMA 12 and EMA 26, but this has become the basis of technical analysis.
Navigation to make transactions at the left and middleboxes is a chart that can be adjusted whether to use candlestick or looking at the depth of the market, the candlestick chart usually easy to understand.
While the box on the right is the trading history.
In terms of security, Coinbase supports 2FA two factor authentication from Google, but also by using the SMS login code.
It would be better if you use a password with a combination of symbols and numbers and letters.
To register Coinbase you also need to verify your account to start trading, you can use a credit card or bank transfer for the deposit method.
Coinbase pro platform supports many countries, you can see a list of countries and also the types of instruments traded on this platform, check here.
- Flat currency pairs with crypto in certain regions are available.
- Easy to use trading platform.
- Support many countries.
- Android and iOS applications are available.
- Only a few indicator options on the platform.
- Currently only supports BTC, ETH, LTC, and BCH.
- It does not provide margin trading.
Crypto trading broker
Besides using the crypto trading platform from the exchanger.
We can also use the MetaTrader 4 platform from a broker that provides crypto accounts.
The growth of the crypto market also forced forex brokers to innovate services and penetrate into the world of crypto trading.
If you have experience in forex trading, not necessarily to confuse about having to choose an exchanger.
Because you can use a crypto account at a forex broker that provides this service.
TenkoFX is one of them that provides access to crypto trading services.
And with leverage 1; 3 provides an opportunity to get profits from crypto trading.
Indeed the assets are not as much as in the exchanger, but if you focus on one instrument, this is enough to grow your capital.
To start crypto trading, you should research and learn how the character of price changes in a selected instrument.
How long-term trend is bearish or bullish, so understanding this trend can minimize errors in choosing buy or sell order options.
Trading with margin has the potential to double profits faster, but the risk is also higher and higher than trading without margin.
So it is necessary to adjust to the style whether including taking risks, or prefer low-risk trading even though the profit potential is also small.
And finally, like financial advice, it’s better to consider the amount of money to invest in the crypto trading market because after all this investment is risky.
Cover the daily necessity of the family first, and only use free money for crypto trading investments.