All You Need To Know About Crypto Trading Platforms
Crypto trading platforms have become more popular among experienced traders and beginners.
We could list many reasons for that – and you’ll find them later – but let’s start with some simple assumptions: beginners find in these platforms an intuitive way to manage their crypto investments, even if they don’t have a strong knowledge of crypto markets; experienced traders are able to get rid of the most painful and repetitive activities involved in trading.
Trading is a complex activity, but crypto trading platforms help people to get predictions based on technical parameters, to easily start new positions, and to automate most of the work.
Of course, not all trading platforms are worth your time: choosing the wrong one could dramatically destroy your initial trading budget – bringing no profits.
That’s why we analysed many crypto trading platforms, including some of the most popular platforms mainly used for Bitcoin trading.
By reading our reviews, you’ll be able to make informed decisions about the platform that best fits your needs and trading goals.
Contents
- 1 Best crypto trading Platforms for 2023
- 2 Untrustworthy Crypto Trading Platforms: Are Reviews Always Unbiased?
- 3 Best Bitcoin Trading Platforms for 2023
- 4 Best UK Bitcoin Platforms for 2023
- 5 Best Australian Bitcoin Platforms for 2023
- 6 List of the Top Australian Bitcoin Platforms for 2023
- 7 Binance trading Platforms
- 8 Trading Platforms Features
- 9 Final Thoughts About Crypto Trading Platforms
Best crypto trading Platforms for 2023
As mentioned, not all crypto trading platforms will help you to make profits. But the ones we are listing are legitimate websites traders can use for their trading activity.
No matter your level of experience: you’ll find many tools and features that will ease your work, without you having to give up on intuitiveness.
These platforms have some elements in common:
- No high minimum deposits,
- Safe payments options,
- Easy-to-use interfaces,
- Secure sign-up and identification processes,
- No problems with withdrawals,
- No hidden fees,
- Multiple cryptocurrencies supported,
- Some of them even offer you a demo version to allow you to test the platform without risking real money.
All these elements can make us safely assess that these platforms are worth your time.
Despite this, always make sure to fully understand the mechanisms that make their business models sustainable – that is, how do they make money, especially when they offer demo versions?
Well, these platforms use fees and commissions to make profits and guarantee you a safe experience.
In general, all crypto transactions require you to pay a fee, but in these cases you need to consider that these platforms act like brokers and charge additional fees.
Like any other service, it’s up to you to decide if they’re worth your money: as long as fees are not high, safety and user experience are the main priorities, there are no hidden costs, and the platform actually helps you with your crypto trading activity, the platform is legitimate – and if you can test it, it’s even better.
Of course, it isn’t always easy to distinguish between legitimate crypto trading platforms and frauds.
The following crypto trading platforms passed TrustPedia’s strict selection criteria and are considered the best crypto trading platforms for 2023. See our full list.
Untrustworthy Crypto Trading Platforms: Are Reviews Always Unbiased?
To resume our discussion about how difficult it can be to distinguish between legitimate trading platforms and frauds, let’s consider the importance of reviews in the digital era.
We analyse crypto trading platforms according to strict criteria, paying particular attention to security: there exist some websites that are created just to steal your personal information, and those are the trading platforms you must avoid.
You’ll find a full list of trading platforms we do not consider safe or legitimate, but sometimes it can be hard for you to choose the right platform at a first sight – and here reviews come into play.
Some users leave bad reviews just because they lost their money, but this is not necessarily an issue due to the functioning of the platform. Even when a platform is safe and legitimate, you should never do two things:
- Deposit all your funds on a single trading platform,
- Trade more than you can afford to lose.
The crypto market is highly volatile, so it is always important to be responsible with your own funds.
And this leads us to another point: even if you’re a beginner, always act taking into account the two basic principles we’ve just listed. This will help you to protect your money.
In some other cases, bad reviews are just the result of the actions of competitors, in order to destroy the credibility of a particular trading platform.
So, before choosing the crypto trading platform that can work for you, read the most trustworthy and complete reviews – as the ones TrustPedia produces for its readers.
Best Bitcoin Trading Platforms for 2023
Bitcoin is the first cryptocurrency by market capitalisation – as well as the first cryptocurrency ever created that is still working.
The reasons why traders and investors consider Bitcoin a profitable cryptocurrency are many:
- It’s been around for a long time – and this gives us the opportunity to assess its reliability as a crypto project. Moreover, the longer the time a crypto project is active, the more historical data we can analyse to try to predict future trends and prices;
- Its supply is limited – only 21 million BTC can be created, and this allows the crypto to protect its value over time;
- The halving mechanism chosen further influences the supply side over time, making it a good asset against inflation.
Bitcoin trading platforms and their trading bots allow you to mix the valuable features of the crypto itself and the advantages of automated trading.
When it comes to Bitcoin trading platforms, our criteria to select the most reliable ones still apply:
- The sign-up procedure has to be compliant, safe and intuitive;
- The website must be secure;
- We test the platforms to check what’s the process each user has to deal with;
- We check that the prices proposed by the broker are in line with Bitcoin’s price;
- We test payments – deposits and withdrawals – along with the features of the platform.
As a result, we were able to select the best Bitcoin trading platforms.
List of the Bitcoin Trading Platforms Recommended by TrustPedia
Best UK Bitcoin Platforms for 2023
According to the data shared by Chainalysis, the UK is among the top 20 countries in the world by crypto adoption.
Moreover, according to the company, the UK is the biggest DeFi district in Europe.
That’s an impressive result for the country, and shows that always more users are interested in these alternative and digital assets.
For this reason, we created a list of the top UK Bitcoin trading platforms for 2023: they offer high levels of security and reliability, and intuitiveness, and they allow users to personalize their trading activity and automate most of it.
List of the Best UK Bitcoin Platforms for 2023
Best Australian Bitcoin Platforms for 2023
Australia is no less. It represents the fourth country in Central and Southern Asia and Oceania by crypto value received.
The top crypto sector in the country seems to be the NFT – non-fungible tokens – market.
In Australia, cryptocurrencies are legal and you can safely trade and invest in them – even if the country, as many others, still doesn’t consider Bitcoin as legal cash.
Moreover, if you’re an Australian trader you should also consider the regulations of the country in terms of crypto taxation: Australia is among the countries that consider digital assets as a taxable event, and here – as in the UK – you need to consider the value of the crypto assets you own in the local currency to pay taxes.
If you choose to automate your trading while taking advantage of a safe environment, here’s a list of the top Bitcoin trading platforms in Australia for 2023.
List of the Top Australian Bitcoin Platforms for 2023
Binance trading Platforms
Bitcoin is the top cryptocurrency, but it’s not the only one.
The so-called altcoins were introduced in the crypto market after the birth of Bitcoin.
Some of them have proved to be extremely valuable: they offered virtually infinite use cases and different tokenomics to address the needs of any trader and investor who wanted to get involved in the innovative market of the digital currencies.
One of these success cases is Binance. Born as a simple centralised exchange with an asset based on Ethereum, it then developed into the top CEX in the world, and the Binance chain is the system fueled by BNB, one of the top altcoins in the market.
Many are the trading platforms that support Binance, giving their users the opportunity to enter the decentralised space thanks to an asset that it also used to develop smart contracts, dApps and Web3 solutions in an inexpensive environment.
The several use cases of BNB are part of the reason for the success of this crypto asset, and if you’re interested in trading it, here you can find a list of the top Binance trading platforms available – always selected according to TrustPedia’s criteria.
List of Top Binance Trading Platforms recommended by TrustPedia
Trading Platforms Features
We’ve discussed the most popular and reliable trading platforms, along with data on crypto trading related to different countries. As promised, we wanted to list the reasons behind the success of crypto trading platforms, and you can find these reasons in their features – as well as the needs of different types of traders, all met by trading platforms.
As mentioned, both beginners and experienced traders decide to use crypto trading platforms, and this has to do with all the steps needed to reach a successful trading activity.
First off, not any trader has the same knowledge of markets. And even when a trader is experienced, you should consider that the crypto market is not like the stock market: the crypto market is faster, more volatile, and constantly active.
Moreover, even if you’re able to spot trends, you might find it hard to identify the right time to buy or sell your assets.
Another point to take into account is emotional trading. This is actually one of the main issues that can negatively affect the activity of traders and investors.
Emotions can influence the way you trade, and things like fear and anxiety can lead you to the wrong choice – especially when it comes to selecting a specific price to buy or sell.
So, the first rule of trading is to avoid emotions – and, as we will see, the major benefit of crypto trading platforms is to give you a set of tools to avoid this kind of risk.
Crypto trading platforms come in help, but you should always acknowledge and use some best practices that can actually allow you to develop a sustainable and profitable trading activity.
Let’s see how the features of crypto trading platforms and best trading practices go hand in hand.
1. Backtesting
You should always check your trading strategy. You can do that with the so-called paper trading – which allows you to emulate real trading – as well as with demo programs – offered by many of the platforms we listed.
A good way to test your strategy is taking advantage of historical price data, also to get more familiar with that specific crypto market.
2. Execution
Executing a trade is not the same as planning it: many traders can feel uncomfortable when it’s time to make a definite choice.
Crypto trading platforms use complex mechanisms to interact with the exchanges, but you won’t notice it thanks to the intuitive design of the platforms. Using crypto trading platforms means that you can automate your trades and, at the same time, benefit from the trading signals offered by many platforms.
3. Repetitive Tasks
Many crypto trading platforms offer users the opportunity to use a preset strategy in trading, avoiding you to repeat the same actions time after time.
Avoiding repetitive tasks is for sure a good way to increase the speed of your trades, and also a good strategy to avoid emotional trading.
4. Day Trading Can Be a Full-time Job
While investing involves long-term positions, trading can take different forms. One of the most intriguing ones is day trading: it’s exciting and allows you to enhance your trading skills, but at the same time, it requires you to constantly analyse the market.
Crypto trading platforms can help you to automate most of your activity, they can provide you with signals, allow you to set up notifications not to miss any opportunity.
5. Strategy Implementation
Strategy implementation is strictly related to backtesting: once you set and test your strategy, the crypto trading platform can automatically implement your strategy according to your inputs.
6. Scheduling
Some platforms even allow you to schedule your trades. Scheduling can even involve specific strategies that consist in buying at specific intervals to profit from the average price of an asset over time.
7. Timing
Timing is pivotal when it comes to crypto trading. Since the market is highly volatile, even a second can result in a dramatic change in price. A crypto trading platform, since it mainly works thanks to trading robots, can trade much faster than humans.
8. The Market Never Sleeps
This statement is really true when it comes to cryptocurrencies.
While the stock market is closed at night, during the weekends and in particular dates, the crypto market is constantly working. But you can’t watch the market 24/7.
Thanks to all the features that have to do with automation and scheduling, you can really trade 24/7 thanks to crypto trading platforms.
Final Thoughts About Crypto Trading Platforms
In this article, we wanted to show you what are the different elements you should take into account before choosing a specific crypto trading platform.
Always more traders choose them, independently from their level of experience as traders, because of the many advantages that these platforms offer: automation, enhanced speed, intuitiveness, provision of trading signals and technical tools, constant activity, are all reasons that make these platforms appreciated by countless traders across the globe.
They are a valuable ally against emotional trading, as well as great allies when it comes to spotting any new opportunity in the market.
But all the benefits can’t replace a responsible attitude: always trade responsibly and, if you’re interested in using a trading platform, choose the most reliable one – always according to your needs and trading goals.
Since a good choice is pivotal to your success, we selected the best crypto trading platforms according to strict selection criteria that make our reviews unbiased.
Even if TrustPedia’s reviews are accurate and indicate the best trading platforms, always remember: never trade more than you can afford to lose.