If you are new to cryptocurrency day trading and are looking for a place to start, this guide will teach you how to invest in cryptocurrency, find the right day trading platform and also how to start trading.
These are the main topics of this article:
- How to Invest in Cryptocurrency
- Best Crypto Day Trading platform
These three topics are all you need to get started. First, you need to know where to buy your coins, how to find the right platform, and also how to get started when you are on the trading platform.
It pays off to do some research since there are so many new cryptocurrency exchanges and brokers out there that offer day trading solutions.
Not all of them are legit and you want to find trustworthy names with a good reputation before you put your money at stake.
How to Invest in Cryptocurrency
So, the first topic is about how to invest in cryptocurrency long-term. Some traders are better off as investors and if this is your case you need to know where to start and which exchanges and brokers to trust.
It’s important to distinguish between a CFD-broker and a cryptocurrency exchange. A CFD-broker is a platform that lets you trade the movements of the different coins on the market, but you will not own the token itself.
Here you day trade the movements of the coins and you profit from being right. Even if you buy bitcoin or any other coin on the platform, it will only be for speculation purposes.
If you really want to own cryptocurrency you need to use a proper exchange which lets you invest in the actual coin.
Cryptocurrency exchange comes in different shapes and formats and there are three great names you should know.
- Changelly
- Phemex
- io
On these exchanges, you can invest in cryptocurrency long-term and purchase your coins with a credit card, debit card or with a bank transfer.
They all have very good reputations, low fees, and very easy to use interfaces.
Together they feature nearly 500 altcoins to invest int.
Start by visiting the exchange, create an account and pick the coins you like.
So, that’s how to invest in cryptocurrency the safe and easy way.
Best Crypto Day Trading Platform
If you are a trader who is looking for a place to actively day trade your coins several times per day you need to find a crypto day trading platform.
You can either go with a crypto CFD-broker or a regular crypto exchange, this depends on what you are looking for.
The best crypto trading platform for you is different from another trader.
CFD-brokers will offer better trading tools, education, and many different types of accounts depending on your level as a trader.
Crypto exchanges usually offer more altcoins to trade and higher leverage if you want to day trade crypto with some exchange money.
Some of the best crypto trading platforms today are:
- Axi
- com
- FPMarkets
- Skilling
- Prime XBT
- Phemex
The first four names of this list are cryptocurrency CFD-brokers. Here you will be able to use very advanced interfaces and charting tools for your day trading.
The two other names are crypto exchanges that offer more coins, and higher leverage if you want to day trade crypto with margin.
They all offer different deposit methods and the fees are slightly different.
However, when it comes to trading fees, they all have very low taker fees, and some even offer negative maker fees where you earn money for being a market maker.
So, those were the best crypto day trading platforms. Try them out to see which one you prefer. Some of them are even regulated which adds to the trustworthiness.
If you want to know more about how to invest in cryptocurrency or find the best crypto trading platform 2020, visit Tradingbrowser.com.
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