Bitcoin trading is the buying and selling of bitcoins with the aim of making a profit whereby traders capitalize on opportunities available.There are several available trading platforms with a good reputation and they include; Etoro, Coinbase,Bitfinex,Binance,Kraken and Bitstamp. Before joining any bitcoin trading platform you need to understand the advantages and benefits of the platform, all you need to do is look at the following advantages listed below.
Fees ,platforms charge different fee rates and this affects traders greatly more so day traders since they a lot of transactions daily.If every transaction is charged then you will lose a lot of money monthly hence you need to look for a platform that charges small amount of fee on transactions including deposits.Reputation is also a key factor to consider while trading,trading sites with a good reputation gives you a clue that the site is legitimate and good to start trading in it.There are some sites which are a scam hence you can easily lose your money and this means that you need to review them on social media and google to determine their originality.
The other factor you need to look at is security measures imposed on the platform,if the platform security is taken then it is a good site to trade in.Some sites are not protected hence you can lose your money in seconds that is why you need to check on their security levels.Good sites protects trader's investments highly so as not to lose there money through account hacking and transfers to other accounts. This is a good factor to look for when choosing a trading site and without it you will end up making losses.
Good platforms always gives required support for easy exchange and withdrawal of money and in some cases it may take long for a person to remove profits earned if there is poor support to the customers.It also needs to have a good system that approves your account faster without delays or misconduct and this will determine if the platform is among the best in the market.Its good verification procedures will give you the need to start trading with the platform due to it having best system for doing trading and this is what to consider and below are details of the best platforms in the market.
EToro is one of the best trading platforms in the world since it has a complete trading solution to traders which includes indices, stocks and commodities. This solutions gives you a large variety of options to trade on as it gives a chance to explore other items to trade on.There is also a free demo account where you will practice your skills and sharpen them to enhance your capabilities of trading on live account.It familiarises you with the market opportunities and trends available and how you should attack them to increase your profit gap.Conversion rates on this site is flexible and cheap this is what makes it you next trading platform and conversion is done on the platform through fiat to bitcoin on 1% tax rate.
Kraken is another good trading platform for bitcoin and it is trade focused as it offers two pairs of bitcoin currency trading, this enhances its performance and provides large variety of trading options to traders.Security of this platform is best as it offers a two-way authentication process and there is a master key option on the platform to offer a fool proof protection to its customers.This site has shown that it is best to trade on and it has also leveraged trading which helps traders to trade on large sums rather than what they need to increase their profits.
Coinbase is another platform for bitcoin trading, it has the highest professionalism regarding bitcoin trading.Its simple selling and buying of bitcoins makes it easier for clients to trade and read graphs providing a secure environment .It also does averaging of bitcoin currencies in respect to dollar and also it is automated providing best trading grounds to clients.This advantages has made it stand out making people who love being professional use it due to it being strict to the rules set by cryptocurrency.It also offers payment modes through debit and credit cards making it easier to deposit money to your live account.
Another good trading platform is Binance since it also has few restrictions to open and start trading on it and as a beginner you don't need any identity proof to start trading on it.Use of credit cards to buy fiat via simplex website is allowed giving traders a good option of buying bitcoins and also there is no deposit fee required making it good for starters.Trading fee is lower compared to other platforms making it trader oriented and it is available in all states of America and many other countries in the world.
Wide range of options is required to be given to traders by platforms and Bitfinex has prevailed the options by including " litecoin,ethereum and zcash2 on their platform.It is the world's largest bitcoin trading platform with many active accounts with large trades being conducted daily on it.They also support a wide range of options which enhances efficiency of traders also it has security system earning trust of their customers.All information entered into the account is monitored including withdrawal requests to ensure there is no fraud.leverage is also offered by this platform which is automated to enable traders conduct large trades for high profits.If you need to trade with large amount of money then this account is the best .
The above platforms are the best in the market with many positive reviews,these assures people that they are very secure to trade in and they also allow large sums.Efficiency has been increased due to some being automated and can performs tasks faster increasing percentage of gaining profits.They also have some disadvantages and the prominent is conversion rates which are high and this is a bad message to day traders with small sums. Trading requires education so before opening a live account know how bitcoin works and then start on a demo account before going live to minimize losses in trades.