Are you looking for day trading crypto platforms to day trade crypto? Here is the tutorial on the best Crypto Exchanges for Day Trading:
Day trading in crypto is not as strict as day trading securities in regulations. However, it follows the same idea that orders opened on the same day are to be closed on the same day.
It is practiced on the spot as well as in derivatives markets where some crypto exchanges charge overnight fees for futures and options contracts. Day trading crypto for a profit mostly depends on the trading strategy employed and by practice, there are strategies that we shall discuss.
This tutorial discusses the best strategies and crypto exchanges for day trading you can use to day trade crypto. It enlightens you on the exact tools and resources available on these crypto exchanges for day trading to help you succeed as a crypto day trader.
Table of Contents:
Crypto Exchanges for Day Trading – Complete List
Market Trends:
- Day trading relies on the use of day trading strategies to craft winning trades. Trades are open and closed on the same day. Strategies leverage market data inputs and sometimes input social sentiments about a particular asset. Exchanges then provide simple to advanced order types to help you place those trades based on your technical and fundamental analyses. These analyses can be done manually or with a bot.
- Cryptocurrencies are highly volatile and hence there is potential for making huge profits as well as losses from day trading.
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Expert Advice:
- Successful day trading of cryptocurrencies requires you to understand what speculating crypto prices involves. In most cases, that requires using fundamental and technical analyses alongside your knowledge of crypto markets to speculate on future prices. How well a crypto exchange helps you do this is the real deal in identifying a suitable day trading exchange.
- Many crypto exchanges for day trading allow you to use price speculation tools to analyze and screen markets. You can do so within the exchange or leverage APIs to connect with advanced trading tools like MetaTrader which have more flexibility in terms of how you conduct your trades.
- Most traders will use trading bots for high-frequency crypto trading because bots allow them to automate these analyses and capture and take advantage of the many small changes in asset prices. Many combine bot trading with manual trading. Many crypto exchanges for day trading use APIs to allow traders to connect to third-party tools that allow them to use bots and more advanced order types.
- Most price speculations rely on the use of data inputs as a speculation method, analysis method, or tool. The amount of those inputs, types of inputs, and correctness or relevance of the inputted data will matter in rendering the best possible future price. It then provides a wide range of order types, including advanced order types to allow you to place trades in a manner that captures the profit from the analyses. If you are looking for a crypto price analysis tool, including a trading bot rendered by an exchange or third-party trading tool that you connect the exchange with, it should render the ability to do near-perfect speculation and place those trades in the most beneficial manner. This should allow you to use multiple data inputs and relevant (in terms of time, asset type, and market conditions) market data.
Crypto Day Trading Strategies
Scalping: This is a short-term day trading strategy that relies on an increase in trading volume. A trader enters the market when the volume starts to pump and exits before any market sentiments can lead to the education of that volume. Bots help to take advantage of small changes in volume.
Trading Volatility: For instance, a trader can use a long straddle where a call and a put option are bought and sold at the same time and price. Straddle is profitable when the asset price rises or falls away from the strike price by more than your premium.
Arbitrage: Here a trader buys an asset at a given price on one exchange and sells it at a higher price on a different exchange. The difference is also known as a spread.
Range Trading: This strategy relies on identifying a situation when an asset is trading at a certain price range for a long time. This is done by identifying overbought and oversold zones using chart indicators for that asset.
Traders will then capitalize on earnings profits from the change in asset prices between that range. The best way to capture those usually small changes in price is by way of using a bot.
High-frequency Trading: A bot is usually set to identify small changes in a crypto price and the trading duration can be adjusted to a day or other duration as per the trader’s needs.
Portfolio Rebalancing: Rebalancers can also be customized to do the work on a daily basis.
List of the Best Crypto Exchanges for Day Trading
Popular and the best cryptocurrency day trading list:
- Bitsgap
- WunderTrading
- ATAIX
- BitMart Exchange
- Bisq
- Coinbase
- Binance
- Crypto.com
Comparison Table of the TOP Day Trading Crypto
| Day trading platform name | Crypto listed for day trading | Deposit minimum | Pricing/fee/charges | Our rating |
|---|---|---|---|---|
| Bitsgap | — | — | You won’t be charges a separate fee for trading once you pay the subscription fee. The subscription fee starts at $23/month (billed annually). | 4.5/5 |
| WunderTrading | — | — | Platform is free to use. Priced plans start at $4.95/month. | 4.5/5 |
| ATAIX | 60+ cryptocurrencies | 0.000001 BTC or equivalence in other cryptos | 0.2% to 0.07%. ; 0.3% to 0.1% for BTC, USDT, ETH, markets; 0.5% to 0.15% EUR markets. Maker fee is free. | 5/5 |
| BitMart | 1,000+ digital currencies | $1 | Maker from 0.25% to 0.06% and taker fees from 0.25% to 0.08%. | 4.9/5 |
| Bisq | 120+ cryptocurrencies | 0. 006 BTC | Maker 0.0012 BTC and taker 0.0088 BTC per each BTC traded. OR 14.21 BSQ maker and 104.24 BSQ taker fee. | 4.7/5 |
| Coinbase | 100+ | $2 | 0.60% to 0.05% in maker and 0.40% and 0.00 in maker fees. | 4.7/5 |
| Binance | 500+ | $10 fiat, $1 crypto. | Maker 0.1% to 0.02% and taker fee is 0.1% to 0.04%. 25% off on all fees when paying with BNB tokens | 4.7/5 |
Detailed reviews:
#1) Bitsgap
Bitsgap is a platform that lets you leverage trading bots and a ton of smart features to trade in crypto currencies. It automates almost every aspect of the trading process, thus taking the hassle out of traditional crypto-trading. You can use the platform to connect with multiple cryptocurrency exchanges.
Currently, the platform supports 15 or so exchanges. What I really like about the platform are the features and trading bots. You can use tools like Stop Loss, Take Profit, etc. to control your risk-to-reward ratio. You can also launch trading bots that backed by GRID and DCA strategies. You get all of this with an interface that’s very easy to use.
Features for Day Traders:
- Multi-exchange trade terminal
- More than 15 exchanges supported
- Trading bots backed by premade strategies
- Fully automatic portfolio
- Smart algorithmic orders
- Demo Practice Mode
- 24/7 Cloud Trading
How to day trade crypto on Bitsgap:
- Create an account using your email address
- Start connecting with one or more exchanges
- Create a trading bot with pre-defined strategies or start placing orders manually
Pros:
- Back-testing strategies available
- Easy to use
- Flexible subscription based pricing
- Demo trading
Cons:
- No copy-trading
Trading Fees: You won’t be charges a separate fee for trading once you pay the subscription fee. The subscription fee starts at $23/month (billed annually).
#2) WunderTrading
Best for: Create and automate trading bots
WunderTrading is a platform that helps you trade via an automated bot. The platform makes it very simple to develop and then automate the bot. This platform comes fully integrated with TradingView, which only makes the job of creating trading bots very simple.
WunderTrading also helps you connect and manage multiple exchange portfolios. You can trade across multiple exchanges simultaneously from one place using this platform. The exchanges this platform supports include Binance, BitMex, KUCOIN, Gate.IO, Bingx, MEXC Global, etc.
Features for Day Traders:
- Crypto portfolio tracking
- Arbitrage Trading
- Create a Grid Bot
- Create a DCA Bot
- Paper Trading
- Copy Trading
How to Use WunderTrading:
- Create a WunderTrading account
- Connect to any supported exchange.
- Once connected, proceed to start trading or create a trading bot.
Pros:
- Easy to use
- Helps you manage trading across multiple exchanges
- Facilitates smart trading with strategies like Take Profit and Stop Loss.
Cons:
- No mobile app
Price: WunderTrading offers the following subscription plans
- Starter: $4.95/month
- Basic: $ 19.95/month
- Pro: $ 39.95/month
- Premium: $ 89.95/month
A forever free plan is also available, allowing you to start free copy trading.
#3) ATAIX
ATAIX is one of the best crypto exchanges for day trading. It lets you trade 60+ cryptocurrencies including popular options like Bitcoin, Ethereum, Litecoin, and Stellar, among others. Although it is based in Estonia, it allows US residents to trade on it.
There are a host of features for day traders beyond bank account/credit/debit card deposits, crypto swapping, and hosted wallets. The exchange features a mobile app and web trading platform that is powered by an order-matching engine capable of executing millions of transactions per second.
Features for day traders:
- APIs for those who like to use their custom trading platforms externally.
- Advanced trading with advanced order types like good till cancel, fill or kill, immediate or cancel.
- Other tools to increase cryptocurrency trading performance and build and manage portfolios.
- On-the-go trading through mobile apps in addition to web platforms.
- OTC trading for large volume trading.
- Limitless trading amounts and volumes.
- A separate crypto portfolio tracker knows your crypto portfolio’s worth, keeps multiple portfolios, gets price alerts, etc.
- Other investment opportunities such as in upcoming crypto projects through IPOs.
- Store, hold, receive, send, and manage crypto in your hosted wallet securely.
How to day trade crypto on ATAIX:
Step #1: Sign up and get a hosted wallet. Log in.
Step #2: Deposit crypto or fiat. If fiat, you can then use a market or limit order to buy crypto of your choice. The same applies if you want to exchange deposited crypto for another.
Step #3: Trade. Click/tap Trade. Enter the amount to exchange from and receive, choose the order type for active trading, review, and complete/place transaction.
While placing orders, you can use charting tools and other marketing tools to analyze trends. The exchange also features a blog through which you can learn crypto trading. The blog also provides the latest market trend analyses.
Pros:
- Low deposit minimum of 0.000001 BTC same as withdrawal minimum.
- Low trading fee. No maker fees and very low taker fees.
- No trading minimums. Large-volume transactions can be carried out through OTC trading.
Cons:
- Fewer crypto supported.
Trading fees: Dependent on monthly trading volume and assets ranges from 0.2% to 0.07% in takers fees for Doge markets; 0.3% to 0.1% for BTC, USDT, ETH, markets; 0.5% to 0.15% EUR markets. The maker fee is free. Other fees such as deposits and withdrawal fees apply.
#4) BitMart Exchange
BitMart lets day traders trade in 1,000+ digital currencies, including on-spot and futures markets. In addition to a feature that allows buying crypto using fiat through credit/debit cards, Apple Pay, PayPal, and banks, you also get a trading platform that lets you trade crypto and stablecoin pairs using advanced order types.
It allows day traders to trade with margins of up to 5x. The platform also features market analysis and charting tools. For day traders, you can leverage BitMart’s advanced charting features to trade crypto and futures.
BitMart Crypto exchange offers advanced web and mobile (Android and iOS apps) trading experiences. Users can take advantage of account management features.
Features for day traders:
- Buy, sell, trade, and earn cryptocurrencies. Both instant and advanced trading exist.
- Bank ACH, credit cards, debit cards, and Apple Pay are supported for depositing and withdrawing.
- Own token BMX, which qualifies a person for lower trading fees on the exchange (25% off) if you pay trading fees with it.
- Broker program where brokers can earn commissions, liquidity provider programs, and trading APIs, which can be used by institutions and companies.
- Trading competitions with rewards.
How to day trade crypto on BitMart:
Step #1: Open and verify an account on the website and Android and iOS app. Log in.
Step #2: From your account, and on the drop-down menu, choose Assets. Under Spot, select the coin to deposit, click/tap Deposit and proceed to get the wallet address.
You can also buy crypto using a credit card, debit card, PayPal, or other methods. Click/tap Buy Sell from the homepage and proceed to buy.
Step #3: Click or tap Spot from the main page (if it is the mobile app click Markets first the Spot then proceed to Search) then Standard, enter the token, then click/tap Search, and choose the pair to trade. Choose Market or Limit order, enter the amount, then choose to buy or sell.
Pros:
- Large selection of cryptos to trade. Even small-cap tokens that cannot be found on other exchanges are also available.
- Extra investment products, including crypto staking (locks up to 90 days but available for select cryptos). Crypto savings with interest are also available. NFT marketplace is available. Launchpad lets users invest in upcoming tokens and cryptos.
- Lower trading fees are up in negative value for loyal traders trading hefty volumes for the month.
Cons:
- Has a history of hacking where $196 million in crypto was stolen.
- Not beginner-friendly.
- Negative customer reviews.
Trading fees: Trading fees for standard users vary based on BMX held; Maker from 0.25% to 0.06% and taker fees from 0.25% to 0.08%.
Trading fees for professional users depend on the 30-day trading volume – maker fees from 0.04% for 150 BTC and below volume to -0.01% for 40,000 BTC trading volume and above. Taker fees from 0.06% for a volume of 150 BTC and below to 0.02% for a 40,000 BTC trading volume and above.
Futures trading fees – maker 0.04% and taker 0.06%. No discount when paying with BMX tokens in this case.
No deposit fees or withdrawals depending on the cryptocurrency in question.
#5) Bisq
Bisq is a native Bitcoin decentralized cryptocurrency exchange that allows Bitcoin peer-to-peer transactions across the Tor network. It supports 120+ cryptocurrencies (for exchanging with Bitcoin in both selling and buying transactions) and global fiat (for buying Bitcoin) and users do not even need to open an account to trade on the platform.
Instead, they can trade directly from their external wallets. Users also do not need a bank account to trade on the platform.
Bisq works on a desktop platform that supports only Bitcoin and not any other, although you can trade others for BTC. You can, however, exchange Bitcoin for other cryptos in addition to fiat through ACH, Amazon eGift cards, face-to-face, U.S. postal money orders, and many other methods.
Features for day traders:
- Over 50 payment methods for which to pay or get paid for your Bitcoins by other peers.
- Peers agree between themselves when trading, regarding payment methods, verification, and other terms. This offers great flexibility for trading Bitcoin.
- No signup or verification requirements. No minimum or account maintenance. No need to even connect to a wallet unless you want to pay for Bitcoin using altcoins.
- Bisq has a platform token called BISQ with which you can reduce transaction fees by half when paying with it.
- Cryptocurrency trading fees are adjusted quarterly by members of the Bisq Decentralized Autonomous Organization (DAO).
- Transaction limits and windows per trade also vary based on the method of payment – face-to-face is 1 BTC with a four-day window to complete the exchange; while eGift Cards do carry a limit of 0.25 BT with a 24-hour window to complete. Ideally, the limits vary from 0.25 BTC to 1 BTC while the trading window varies from 1 day to 8 days for cash-by-mail payments.
- Bitcoin under trading are sent to escrow such that they can’t be accessed by the seller and buyer before payment is made unless through a dispute resolution mechanism overseen by the admins. Bisq offers a three-tier dispute resolution process involving chat, mediation, and arbitration.
- A security deposit is needed for traders.
How to day trade crypto on Bisq:
- Bisq does not require opening an account to trade.
- Bisq is used as a trade placement platform and where to find sellers and buyers for crypto. Download the desktop (Windows, Mac, and Linux) software, install it on the computer, and open the app.
- Create a Bitcoin wallet after the app starts and connects to the Bisq network. Configure a payment method like Zelle. Go to Account and click Add new account and proceed to select the payment method you want to add.
- To buy, select an offer from the list sorted as per your needs (offers may appear after configuring a payment method, clicking the Buy BTC screen, and clicking on the Take offer button). You will see offers and other seller details. Send deposits and fees to trade wallets (this serves as a security deposit and must cover these two charges, although it is usually 15% for buyers and a minimum of 0.006 BTC for both. Sellers can also specify the preferred deposit when creating offers to sell BTC), confirm the trade, send payment, and mark payment as sent, and the Bitcoin from the seller will be released from escrow.
- You can also create an offer by clicking on the Create new offer to buy BTC in USD. You will need to set other terms after this and place an order to be listed for other people to see and initiate a trade with you.
- Selling BTC requires you to select offers to sell BTC with USD or other methods. You can then take an offer and proceed to send the BTC to escrow and the security deposit to the wallet. The buyer should pay and afterward you should release the BTC from escrow upon confirming having been paid.
Pros:
- Comparatively low transaction fees compared to other exchanges.
- Transactions can be anonymous based on agreements between the peers.
Cons:
- No advanced order types. You can, however, speculate on prices and place trades or buy as per your analysis only that it will depend on whether there is anyone who wants to purchase or sell as per your demand before those analyses become obsolete.
Fees: Maker 0.0012 BTC and taker 0.0088 BTC per each BTC traded. OR 14.21 BSQ maker and 104.24 BSQ taker fee. The combined BTC fee is 1% (0.12% by the maker and 0.88% by the taker). The combined BSQ fee is 0.5% (0.06% by the maker and 0.44% by the taker).
Further Reading => List of the BEST Day Trading Platforms to Look For
#6) Coinbase
One of the renowned U.S. based crypto exchanges for day trading, Coinbase has a host of services and benefits for active day traders. This includes instant market orders as well as advanced order types. They can leverage the platform’s advanced trading tools like charting and deep liquidity to do day trading.
Besides, regular traders can take advantage of Coinbase Pro to pay lower than ordinary trading fees down to 0.4% maker and 0.6% taker.
Advanced Trade provides charts powered by TradingView with different indicators and drawing tools. It supports market, limit, and stop-limit types of orders. It also supports margin trading of up to 3x. In addition to providing hosted wallets for cryptocurrencies, Coinbase allows credit card and debit card deposits, bank withdrawals, mobile apps, and trading APIs.
Features for day traders:
- FDIC-insured USD balances of up to $250,000. This is in addition to extra security like 2FA, and biometrics for mobile.
- Coinbase is institutional for investors and institutions like corporations, banks, liquidity providers, and private clients. The solutions include custody, execution services, market analytics, support, APIs (for external trading purposes including multiple order execution, smart order routing, and algorithmic trading), exchange, and data marketplace, among others.
- Other investment products for diversified day traders – staking, saving account, NFTs, derivatives trading, borrowing, Visa debit card for easy spending of crypto at 40m+ merchant stores and earning crypto rewards on purchases, and token listing which provides traders with opportunities to invest in upcoming tokens through IEOs/ICOs.
- Recurring purchases for repeated investing needs.
- Mobile apps (Android and iOS) in addition to the web platforms.
- Crypto trading tutorials.
- Instant crypto purchases via bank cards.
Pros:
- Low funding minimums $2.
- Deep liquidity.
- A wide selection of cryptos to trade — 100+.
- Instant crypto purchases. It also supports fiat and a number of deposit methods.
Cons:
- High fees of up to for those not trading high volumes. Smaller transactions can cost as much as 15%.
Trading fee: Pricing tier is dependent on volume 30-day. Pro charges between 0.60% to 0.05% in the maker and 0.40% and 0.00 in maker fees.
Margin or spread fees: up to 2%.
Fiat deposit fees, which depend on the deposit method, apply separately ($10 USD for wire and up to 4% credit and debit cards) same with fiat withdrawal methods ($25).
#7) Binance
Binance is the largest cryptocurrency exchange by trading volumes and that means it is highly liquid and very attractive to investors and traders. The trading platform, which is accessible on mobile and web platforms, features crypto swapping as well as advanced trading mechanisms for speculative traders.
The trading platform achieves high trade execution, provides advanced trading order types, and has charting tools and deep order books. Traders can trade in a variety of pairs on the spot market with margins of up to 10x. You can track the prices of crypto in your transactions, current and historical, and track your own portfolio value.
Binance now through copy trading allows you to subscribe and get the best crypto day trading strategies from other users, including those utilizing algorithmic trading.
It also offers margined futures trading for a good number of cryptocurrencies where you can leverage trades up to 20x. You can fund the margins with Tether and other cryptos as collateral. The exchange also offers leveraged tokens, allowing you to bet on the future price without any liquidation risk.
It arguably packs in the most diverse crypto product range that would give day traders the adequate tools they want to succeed in it and diversify their investments.
These include staking, saving accounts with interest, NFT marketplace, Launchpad which helps investors understand and invest in upcoming tokens, mining pools, swap mining, liquidity mining, crypto loans, dual investment trading, and many others.
Features for day traders:
- Binance offers more than 500 cryptocurrencies to trade.
- You can deposit fiat or buy crypto directly with fiat using credit/debit cards as well as bank transfers among other methods.
- Binance US allows traders to trade directly against the USD.
- It also features a peer-to-peer trading platform from which you can buy and sell stablecoins and crypto from peers using preferred payment methods.
- It also has an OTC trading platform.
- Binance Smart Chain is Binance’s blockchain which features BNB as the platform token. It supports the building of dApps.
- Institutional traders can leverage APIs and other broker or extra features to customize trading the way they want or offer it to their clients by leveraging Binance’s deep liquidity.
- Binance academy is for those who want to learn about trading cryptos.
How to day trade on Binance:
Step #1: Create and verify the account. Deposit funds by clicking on Deposit from your account. You can exchange crypto directly with fiat after depositing.
The Buy crypto link can also be used to buy crypto via fiat payment methods.
Step #2: Start trading. Choose Exchange and either go for Basic or Advanced trading platforms to trade crypto. Choose the crypto and pair to trade, enter the amount, choose the order type, and confirm the trade.
Pros:
- Binance trading fees are lower compared to other centralized exchanges – zero for some stablecoin BTC pairs. Zero maker fees on BUSD pairs.
- Paying transaction fees in BNB affords a trader lower fees (25%off).
- Diversified crypto investing and trading opportunities.
Cons:
- Not ideal for beginner traders.
Trading fees: Maker 0.1% to 0.02% and taker fee is 0.1% to 0.04%. 25% off on all fees when paying with BNB tokens. Other fees apply. Depositing fiat may cost up to 4% with credit and debit cards. Withdrawal fees vary based on crypto.
The futures trading fee ranges from 0.04% to 0.017% taker and 0.02@ to 0.00% maker, Futures trading fee is 25% less when paid with a BNB token.
#8) Crypto.com
Crypto.com has aggressive offerings for day traders beyond advanced trading and charting tools. It allows regular-day trades, who do vast volumes, to reduce their trading fees to zero by holding CRO, the exchange’s blockchain platform token.
This, however, is not an aspect of beginner traders because you require holding between 1,000 CROs and 10 million CROs and doing a huge 30-day trading volume to win any significant rebates on fees. Otherwise, it favors those trading huge volumes and holding large CRO volumes to reduce maker fees to negative values meaning you win back the fees.
This provides a better opportunity for market makers who are mainly companies and institutions leveraging Crypto.com’s liquidity to offer crypto trading products to their clients.
Nevertheless, Crypto.com has an advanced spot and derivatives trading platform that offers advanced order types, speedy execution, ISO-certified security, charting tools, portfolio management and tracking, and deep liquidity order books.
The exchange allows traders to buy crypto in USD and has USD-crypto pairs on the exchange. Nevertheless, it also supports crypto-to-crypto pairs and stablecoins-crypto pairs.
Features for day traders:
- Companies and institutions can leverage APIs to market make and offer trading products to their clients.
- Derivatives market.
- Support for 250+ cryptocurrencies.
- Other products to diversify investment including staking ad crypto loans.
- Branded Crypto.com Visa card to allow spending crypto however and whenever you want at global merchant stores. It also earns up to 5% crypto purchase rewards.
- Trading arena for trading competitions.
- Business tools linked to banks to help you pay and get paid for in crypto.
- Crypto.com blockchain.
- Research and news from the company to support your trading endeavors.
- NFT marketplace.
- iOS and Android apps.
How day trading works at Crypto.com:
Step #1: Create and verify an account on the web or mobile app.
Step #2: Deposit cryptocurrencies or fiat on the platform if not choose to directly buy crypto using fiat. You can place an order to buy crypto of your choice by choosing crypto from the Markets tab.
Step #3: Click or tap Markets from the menu. Select the pair you want to trade in and proceed to choose the order type and then place the trade.
Pros:
- Trade with margins of up to 10x.
- Potential to significantly reduce trading fees by holding CRO and managing high trading volumes.
- Easy crypto spending from your wallet through a branded Visa card.
- Other investment opportunities hold crypto and earn income as high as 14.5% p.a.
Cons:
- High trading fees for low-volume crypto traders.
- It’s not easily navigable. It’s hard to find trading educational resources.
Trading fees: Depends on trading volumes and CRO staked. Traders are ranked in levels based on the trading volume for each CRO staking category (these categories are 1,000; 5,000; 10,000; 50,000; 100,000; 500,000; 1 million; 5 million; 10 million).
Without any staking of CRO, the maker fee ranges from 0.0750% to zero and the Taker fee ranges from 0.075% to -0.0010%.
With staking, the maker and taker fees are reduced by 3% when staking 1,000 CRO; 5% when staking 5,000 CRO; 8% when staking 10,000 CRO; 12% when staking 50,000 CRO (here the maker fee is zero); 15% when staking 100,000 CRO; up to 30% off when staking 10 million CRO.
FAQs on Cryptocurrency Day Trading
Crypto day trading is no different from stock, forex, ETF, and other security day trading. However, it is deemed a riskier asset to trade because of the huge variability in pricing within a short time. Nevertheless, it can be very rewarding despite being a highly risky initiative.
Crypto-day traders in the United States make around $112,925 per year on average. This amounts to around $2,171 per week or $9,410 per month. It also comes to around $54.29 per hour.
Bitcoin is one of the best cryptos for day trading. How much can you make a day trading crypto? It depends on your skill, experience, the types of trading you engage in, and even the strategy employed.
Of course yes. Many crypto traders have become millionaires through successful crypto investments. However, a significantly higher number of them have lost earnings and made hefty losses.
For those with the question is day trading crypto is worth it, the profits generated depend on your investment strategies. Day trading is a more preferable option if you are weighing day trading vs. long-term cryptocurrency holdings.
Bitcoin, Ethereum, Tether, Polkadot, Solana, Filecoin, Ripple, Doge, and several other cryptocurrencies are supported for day trading at over 2,000 cryptocurrency exchanges.
Here are the steps for beginners to start day trading crypto:
Step #1: Choose which platform to trade crypto. Research which platforms have the lowest fees, preferred account minimums, investment options, trade/market analytical tools, strategy design or drawing tools, market research tools, etc.
Decide on trading aspects based on what you find – trading amounts, how to counter risks, and get an education and/or support on how to succeed in trading.
Step #2: Sign up with the platform, deposit, choose assets to invest, choose a trading strategy, and start trading.
How to pick crypto for day trading: Most people pick from the most traded cryptocurrencies namely Bitcoin, Ethereum, and many others but quite a number follow the hype, news, and announcements about the coins (e.g. regarding upcoming upgrades, regulation, and project milestones), expert analysis, daily commentaries, and social sentiments.
Others do check for coins with the potential to pump for instance by checking the latest weekly/daily/monthly gainers and losers charts.
Knowing how to make money day trading crypto is usually an art that requires you to follow the markets consistently.
Yes, Bitcoin trading exchanges and markets do not close even on weekends and holidays, unlike stocks and forex where most exchanges close during these times.
How much money to start day trading crypto depends on the trading platform you want to use. Many platforms require the lowest minimum trade value (the least amount to place a trade on a crypto exchange) of just $1 though the minimum deposit may start at around $10 in most cases. These requirements vary from one platform to another.
Conclusion
Crypto Exchanges for Day Trading support day traders’ journeys by allowing them to customize trades and the entire trading journey as they wish to make profits. This is mostly by availing them tools to understand the market for instance by collecting and using historical as well as real-time data.
Technical and fundamental analyses are very important to a day trader and as such, a good cryptocurrency exchange should make it possible and easier for traders to do these analyses.
Many Crypto Exchanges for Day Trading allow you to track the market and use simple aspects like market depth, advanced order types, and advanced ideas like technical and fundamental analyses to better your trading. Some do provide market analyses by experts. A few exchanges like Binance let you copy trades and trading strategies from advanced traders, including those using bots.
Most of the Crypto Exchanges for Day Trading in the list have APIs that allow you to connect them to and use advanced third-party trading tools like MetaTrader and that’s where the real value lies. These third-party trading tools let you use automated trading strategies and even copy/buy strategies from experts to increase your chances of making profits from trading crypto.
Such tools help them to analyze possible future prices, monitor their portfolio, and monetize that portfolio through diversified methods such as staking, interest-based lending, interest-based saving, and other ways.
Research Process:
- Total Crypto Exchanges for Day Trading Initially Listed for Review: 35
- Total Crypto Exchanges for Day Trading Reviewed: 6
- Time Taken to Research the Article on Crypto Exchanges for Day Trading: 20 hours