ZoneBitcoin EditorialCryptotrading has always and will obviously always remain a highly sought-after way of generating money. Of course, this requires a certain knowledge and above all an iron mentality (psychology in trading is by far an extremely important parameter).
That said, beyond the search for pure profit, many people practice crypto-trading for simple utility. Yes, we all do crypto trading to a greater or lesser extent when we exchange cryptos or buy/resell them at a price deemed attractive.
So here is a little comparative article between the different crypto trading platforms that exist on the market. We have naturally selected the most reliable, reputable and secure crypto-trading platforms.
It's up to you to make your choice for each of them and to be able to embark on this activity with complete confidence and with the best tools.
Before we begin, what is the difference between a trading platform and a crypto exchange?
If you are a beginner, we still need to remind you of a few basic elements. First of all, you should know that there is a difference between exchange platforms and trading platforms. A difference that is not necessarily visible, we agree.
Let's say that exchange platforms like Binance or Kucoin are simplified platforms. You can buy cryptos and trade them but we don't have very developed tools. This is why experienced traders will opt for crypto trading platforms, and this is entirely coherent and logical.
There you have it, I wanted to tell you because on the one hand I see that it is never really mentioned and secondly, it is of great importance, casually. In short, we can resume the article.
The 5 best crypto trading platforms
Here are the 5 best crypto-trading platforms that we personally use among Zonebitcoin members. Everyone has their own preferences and to make this comparison, we simply compared the essential criteria and voted (yes, simply by raising a finger) to define the ranking.
Basically what we want to tell you is that even the 5th place platform is one of the members' favorite platforms. Sometimes we have preferences based on the interface or the fact that we like this or that feature, for example.
It's up to you to choose the crypto trading platform that best suits your profile.
1/ Capital.com : The rising platform!
Frankly, we already talked to you about it in a previous article (Capital.com Reviews) because for many of us it is an excellent platform. Even if Capital.com is a recent platform, you should know that it is certainly the one which is experiencing greater and greater growth in terms of users.
We can say that for a beginner or for an experienced crypto trader, it is one of the ideal platforms because the choice of tools, the quality of the interface and the types of assets are adapted to each profile. Really.
Moreover, you can trade more than 3000 financial assets including 85 crypto currency pairs. This is huge and therefore more than sufficient for a particular trader.
Like many trading platforms, you can also trade CFDs. On Capital.com, this remains frankly simplified as the interface has been well thought out.
That said, although we will come back to this later in this article, remember that CFDs are risky instruments. Don't touch it if you don't know what it does. We can never insist enough.
If capital.com has won so many awards in the field of trading, it is also because in terms of commission, it remains extremely interesting. Remember that there are no fees charged on the site and that the company's business model is based on differences in spreads. This makes Capital.com one of the most economical platforms. This is not a negligible criterion, you will agree with yourself, right?
Also, the platform is translated into French and customer service is extremely available. You will be able to ask your questions or suggestions 24/7 and directly by chat or by phone. There really is a team dedicated to customer service and even if this seems to be an essential service, be aware that not all platforms apply it rigorously…
Finally, in terms of reliability, we are dealing with a reliable company which is under European license and which is regulated by the famous CySec. Here again, the security of funds, the fact that the company has a solid legal existence makes it a very good crypto trading platform.
So that's basically what made us place the platform in first place. She fully deserves it.
2/ Libertex: An ideal platform for experienced traders.
You may have heard about it because Libertex has very good communication in general. Likewise, the company has existed for more than 20 years even if it is still very recent, its openness to cryptocurrencies. Libertex is particularly sought after by traders looking to trade CFDs, you should know.
Due to its age, it is a platform which has conquered the hearts of traders while constantly improving its general ergonomics and the tools available. The platform can boast of having more than 2 million active traders from all over the world. The flexibility of the platform is therefore indisputable.
Again, fees are low on Libertex. As a general rule, remember that the most used platforms are generally the cheapest in terms of fees. That seems logical, you might say.
Just like Capital.com, Libertex is also regulated by Cysec, which again reassures about the reliability of the company.
This remains, let’s be clear, a major reference in the field of crypto trading.
3/ PrimeXbt : The anonymous platform that explodes
Here again we had already written a review on PrimeXbt, a new crypto-trading platform which, let's be clear, is gaining a lot of users lately. Most certainly, the great advantage of Primexbt is that the platform is anonymous. This means that when you deposit cryptos and especially when you withdraw your profits, well, you are not obliged to send your documents.
So it will depend on everyone’s needs, very clearly. Likewise, Primexbt is also a crypto trading platform suitable for experienced traders. We have different tools and in particular the possibility of trading with very powerful leverage effects. Here again, we remind you that leverage can certainly help you gain a lot, but it is also very risky. Never forget it.
That said, if you are looking for a platform where you can trade freely with suitable tools and even via a copy-trading service (such as eToro), then Primexbt is a platform to try, at least.
4/ Etoro: The copy-trading platform
We have already written an article to warn you against Etoro IF you are a beginner and simply want to buy cryptocurrencies. Basically, Etoro, like other trading platforms, is a trading platform, therefore. OK? You will therefore use it if you want to trade and therefore have some knowledge of this discipline.
For those who want to buy cryptocurrencies, and who have no knowledge of trading and CFDs, and who are basically beginners, I repeat: No, do not try to go to trading platforms! Or go ahead and open a demo account. I will return to this point below. Do not worry.
So, eToro can be an interesting platform if you want to do copy trading in particular. This means you can copy traders and not have to worry about making and deciding trades yourself. This can be interesting if you decide to follow the most successful traders, very clearly.
Once again, etoro allows you to trade with interesting leverage effects. Be careful again because although this can maximize your profits, it can also cause you to lose a lot…
So, take into account the financial objectives that you set for yourself and of course, place top losses and take profits intelligently. And, you will tell me, that everything is there, in this art of trading…
Let's quickly see what you need to know before you get started, if just in case, crypto trading interests you.
Understanding and training in crypto-trading (for beginners)
Of course, I do not pretend to explain and teach you crypto-trading in this article. This would clearly require dedicated training as there is so much information to know. Don't forget that we are still talking about a profession in its own right even if many of us trade quietly at home, only a few hours a day.
Know that it takes years to understand the inner workings of trading and years to learn how not to succumb to your emotions. We told you this in the introduction, but seriously, many traders lose because they are not self-controlled enough.
I could tell you about the last crypto crash of May 2021 where many people panicked and returned their crypto even though the market will certainly recover. Panic or feeling anxious and reacting with emotions can be disastrous for a trader.
Of course, beyond managing your emotions, needless to say that you need to have knowledge of technical and fundamental analysis.
There are good training courses available (we are planning an article on this subject) even if many are much too expensive for the type of content. Very clearly, and to be frank with you, I would advise you to buy a good book or even consult them first in a library.
I mean, books are still the best way to educate yourself, and on that, I am adamant. When we study a discipline, we read a lot and we go to classes and conferences to support what we have learned. Books are the ultimate foundation and that's where you should start.
You also have complete blogs which will explain technical analysis to you (reading charts, spotting trends, relying on indicators, etc.).
Similarly, you will also need to follow cryptocurrency news regularly and know how to spot big news from small news without much interest. For this, nothing better than going to specialized English-language blogs like Coindesk for example.
Conclusion on crypto-trading: Should you get started?
I would like - if I have time - to prepare beginner's guide type articles. I think I'm going to do it because really, getting into crypto trading is not an activity to take lightly.
The crypto investor:
Of course, buying, trading and selling cryptocurrencies on simple platforms like Binance or BitPanda does not require any technical knowledge. Nothing could be simpler and in idea, you are more of an investor who will acquire cryptos and resell them at the appropriate time. Ok, it's within everyone's reach and it's an equally simple way to get rich in reality. That said, posting big gains will take longer. In general, we are in the long term.
The crypto trader
Unlike the crypto investor, the crypto trader can earn every minute! He can lose too, of course, but let's say that it goes much faster in trading, obviously.
Let's say that the trader profile is rather someone who will - thanks to leverage effects (among others or not) - take advantage of market volatilities to generate greater profits. He's going to have to work on these charts to get in and out at the best time. Yes, trading is a question of timing, down to the second.
And, it's not an exact science. This is why there are self-taught traders as strong on the markets as there are traders with diplomas and lower performance.
Final word on crypto trading platforms in general
Well, for a short article, we think we've told you the main points. The article was dedicated more to crypto trading platforms and whether any of the platforms, again, the ideal is to test them one by one.
This is how you will simply discover the one with whom you will have the most affinity.
Last thing: Don't hesitate to start (even if it has to last 6 months) on demo accounts! For example, on Capital.com, you can trade in a demo account for free. Truly, this is the only true advice to give you that you must follow. Test yourself with the demo account and once you see that in the long term, you have positive performance. So, this is the sign that you can get on the pro account and enter the big leagues.
Note: Remember that 70% of crypto traders lose when trading CFDs. These are financial instruments that are certainly tempting but extremely risky. Never forget it. Only invest amounts you can afford to lose. Take the time to train yourself, seriously.
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