The crypto industry in 2022 is a very messy domain with uncertainty taking over the whole market. However, it is still a massive part of the modern economy evaluated at around $1 trillion (after losing over 60% in value due to macroeconomic reasons). For many enthusiasts, the current bearish trend is nothing new. For speculators, it is a good time to make money.
Regardless of your intentions and beliefs, the market is quite lively despite some downfalls. It is still volatile meaning that you can successfully use products like an auto crypto trader or use GRID bots to create efficient strategies. You still should be looking for the best platform for crypto trading!
How to choose the right exchange?
There are many aspects that you should pay attention to when choosing the best platform. Some websites are very popular, but may not be present in your country or offer financial instruments that you are not interested in. For example, Binance is a crypto trading platform best known for its massive market share and investments in upcoming crypto projects, but you may be more interested in FTX if you want to deal with more derivatives or choose Pionex for their native automation solutions.
Here are aspects that we used to evaluate trading crypto platforms:
- Design covers a multitude of different factors including visual presentation, user interface, navigation, and other important things that define the user experience. Websites that have intuitive navigation, informative layouts, and solid features receive higher grades from our team. We believe that visual design is imperative for any contemporary online service.
- The selection of available financial instruments is a very important factor. While many hardcore enthusiasts think that P2P is the only thing we need, the truth is that crypto attracted many individual and institutionalized investors who want to diversify and speculate using a wide range of assets and derivatives. We highly rate platforms that have flexibility in this regard.
- Compatibility with other platforms is a hugely important issue in the contemporary crypto market. We pick platforms for trading crypto based on their compatibility with automation vendors, third-party analytical tools, and external trading terminals. For example, many exchanges are compatible with companies like WunderTrading offering DCA, GRID, and Arbitrage bots that can operate on Binance, Coinbase, FTX, and many other platforms.
- Fees and commissions significantly affect profitability. We try to exclude exchanges that have exorbitant fees and force clients to overpay for services that are priced much lower by competitors. We included only crypto trading platforms with the lowest fees on our list. You can choose any of the services we listed below and be sure that their pricing is acceptable by market standards.
Binance — the most popular crypto trading platform
Founded in 2017, it quickly became a distinct destination for individual and institutionalized investors who wanted to focus on investing in crypto assets. The exchange launched new products and increased its inventory of financial instruments with derivatives in less than a year. It just began offering leverage to traders interested in margin trading.
With over 17 million daily active users, the exchange has the greatest market share and liquidity pool available. The company is dedicated to supporting up-and-coming projects, NFT collections, play-to-earn games, and many web3 startups. Binance is a great choice for people who want to join a massive community and trade with very low fees while having access to margin accounts when necessary.
Pionex
The platform has low fees and offers a wide range of crypto assets. It has a very nice website that looks like a creation of contemporary designers focused on utility rather than flashiness. The layout is intuitive and never confuses users. The selection of financial instruments is impressive, yet the biggest attraction of the platform is its native automation solutions.
The platform implemented 16 different bots and the number is growing each month. They have unique products like advanced GRID bots that can be fine-tuned with the help of AI suggesting optimal parameters for trading scripts. Since you can use many analytical tools and artificial intelligence to ease the process of building an effective strategy, it is one of the best crypto trading platforms for beginners.
CoinBase
The largest US crypto exchange provides a wide range of financial goods to US customers. If you want to trade on a secure and tightly regulated platform that meets the standards of centralized businesses, CoinBase is the place to go. Given the number of blunders from certain decentralized services, regulation is not a terrible idea.
CoinBase has a large number of integrations with other services including TradingVew terminal, WunderTrading, and more. If you are looking for a versatile platform for trading cryptocurrency, this one is a great choice. However, it may be completely unavailable to residents of some countries.
FTX
The third biggest exchange globally is a great choice for people interested in derivatives like perpetual futures. FTX specializes in these financial instruments and offers incredibly flexible margin trading accounts with leverages suitable for riskier traders and those who want to remain on the conservative side.
FTX also has options for staking, a functional NFT marketplace, Over-the-counter trading, and many other interesting financial services in their versatile lineup of products.
How to trade on the best crypto trading platform in 2022
We strongly recommend utilizing a wide spectrum of instruments to increase your overall efficiency. Many exchanges offer excellent services, but you won’t reach your full potential without contemporary trading tools like automation. Consider implementing bots from companies like WunderTrading into your strategy. Use DCA buying to accumulate assets and utilize the power of social trading to follow the best investors in the world!