update 27 October 2021

Cryptocurrency Exchanges Most Appealing to Technical Traders

To effectively day-trade cryptocurrency or any instrument for that matter, many considerations and variables must be taken into account by any trader. The factors can be external and technical. External factors refer to public perception, regulatory news, updates, profit statements, and so on. External factors have to be studied carefully and updated. On the other hand, technical details may include the perceived future trend, long-term and short-term positions, and so on.

For a trader, the external factors can be effectively managed by updating their portfolio based on the news they get and their decisions. But the technical details differ from trader to trader. Each trader has a personal trading preference. Some like to do the technicals every day with sophisticated mechanisms, while others like to take a laid-back approach and only apply the long-term trends.

Traders need to choose a trading platform that is best suited for their needs. If they like to chart their process, apply complex trading strategies, or do simple trend analysis, they must be able to do so without constantly shifting their platforms.

Cryptocurrency trading involves a great show of patience and risk-taking. The traders who engage themselves in day-trading allow themselves to be exposed to astronomical amounts of risk. For this reason, they must allow themselves to be completely open and knowledgeable. The exchanges involved in cryptocurrency are trying to achieve just that. To help day traders, exchanges are continuously updating their user interfaces and tying up with charting portals to integrate it into their platforms. This will give a certain appeal to the exchange, allow traders to use the tools available to them effectively, and execute strategies without wasting time.

We picked three different exchanges that provide enhanced experience to traders. Let us look at them now.

Bitifinex

Bitfinex is one of the oldest exchanges founded in 2012 and survived, although not impeccably, up to this day. All the while, and despite this turbulence, Bitfinex has proven to attract not only many traders but massive volumes – and is frequently regarded as one of the most important places where price action and discovery happens first, before leaking to other exchanges through market makers and natural forces.

Bitfinex allows users to trade with up to 3.3x leverage by receiving funding from the peer to peer margin funding platform. Users can enter an order to borrow the desired amount of funding at the rate and duration of their choice, or they can open a position, and Bitfinex will take out funding for them at the best available rate at that time.

Bitfinex facilitates a graphical trading experience with advanced charting functionality, allowing traders to visualize orders, positions, and price alerts, tap to modify order properties, and annotate their trading strategy.

Charts are front and center in the main window in the Bitfinex platform and come powered by TradingView, which packs a comprehensive suite of 73 drawing tools, including 368 icons and 78 studies. One neat feature in the order books is adding alerts on a specific price level from directly within the book, which is very useful for those watching various levels to determine optimal entry/exit or other price analysis.

The Bitfinex margin funding market provides a secure way to earn interest on fiat and digital assets by providing funding to traders wanting to trade with leverage. Users can offer to fund across a wide range of currencies & assets at the rate and duration. In addition to this, users can use the Auto-Renew feature to renew offers automatically upon expiry.

Bitfinex is the top choice for many professionals who demand access to deep liquidity and competitive commission rates from a regulated broker, as well as active trader commission discounts.

Binance

Binance is a popular cryptocurrency exchange started in China, and it’s is extremely popular for its professional trading experience, among other things.

Binance’s Trading package is well established as one of the best in the industry. Its capabilities and smooth UI allow traders to make the most out of the platform without wasting much time shifting from one platform to another. In essence, retail traders can effectively devise long-term strategies while day-traders can use the tools built by the exchange in leveraging their knowledge and expertise.

The Binance Platform has divided the exchange’s UI for two different sets of trading audience. The Basic trade setting has a simple layout that’s easy to understand. Only important information for making trades is displayed. You must remember that Binance is a professional trading platform, so even the Basic trade setting might seem too complicated for some newbies to use. The Advanced trade setting gives expert traders access to all the price charts and market data they need to make complex trades.

Binance recently updated their entire platform. The revamp is about getting it right when it comes to user experience. This involves using a more consistent visual language across different parts of the website. These changes, which vary from icons used to font arrangements, may seem minor when seen individually. Still, each element contributes to an easier-to-navigate platform for trading and using the Binance account.

Bitcoin live price
Btc
Bitcoin
$51.343
price
6.64979%
price change
BUY NOW

Don’t forget to check our Exchanges page for even more reviews of exchanges and options!

More posts

Top 5 Cryptocurrency Projects on Cardano (ADA)

2021 continues to be the defining year for Cardano (ADA). In terms of market capitalization, Cardano rose to the top as the third-biggest blockchain-based platform. As more Cardano projects step into the light, investors are optimistic about the future growth of Cardano. As a uniform ecosystem, Cardano continues to become more flexible, sustainable, and fast. The consistent growth of Cardano has made it possible for projects to be viable and achieve growth without issues. Interestingly, ADA doesn’t share some of…

Top 5 (NFT) Play-to-Earn Cryptocurrency Projects To Watch in 2022

The gaming industry is transforming as we speak. The sudden surge in blockchain-based games using the play-to-earn (P2E) model has undoubtedly attracted the attention of a subset of gamers. For those gamers, playing games is no longer just a hobby; it’s a means of income. So, if you want a slice of that pie, you should keep an eye on these play-to-earn NFT projects coming in 2022. HeliconNFT HeliconNFT is an ambitious ecosystem that brings together NFTs, DeFi, and gaming.…

Top 7 Coins on Binance Smart Chain (BSC) to Watch in 2022

Binance Smart Chain continues its streak of unprecedented growth. Whether it’s token swaps, NFTs, or decentralized markets, BSC supports more than one option to earn significant yield and make the crypto landscape more exciting. Binance Smart Chain is a one-of-a-kind new blockchain with a dedicated environment that supports decentralized and high-performing applications. The cross-chain compatibility of BSC is one of its hallmark aspects. Also, it allows users to reap the benefits of Binance Chain and Binance Smart Chain. But unlike…

Top 10 NFT Projects to Invest in 2022

In 2021, NFTs rose to new heights and managed to draw mainstream attraction. In 2022, it makes sense why so many crypto investors and enthusiasts want to be part of the NFT revolution. Technically, you can use NFTs to distribute assets and validate authentication through the blockchain. It is a new paradigm where NFT rule and run on smart contracts. Popularity and Practicality of NFT Projects Although the NFT market is still evolving, there are more than enough NFT-based projects…

Is There An Ethereum ETF?

There’s been a lot of talk about crypto ETFs as of late. Specifically, Bitcoin ETFs. Last month, the very first Bitcoin ETF was launched in the United States. It pulled in over $1 billion in volume in just two days. Most importantly, it was praised for reeling an all-new investor base into the asset class. However, Bitcoin isn’t the only cryptocurrency in town. Ethereum – the second-largest crypto – has also seized the interest and funds of major investors. These…

What Is A Bitcoin ETF?

On October 19th, 2021, the first Bitcoin US Bitcoin ETF launched on the New York Stock Exchange. This was a long-awaited event for the crypto community, which viewed it as a significant milestone for the industry. The debut was hyper-successful, too. Within just a day, the ETF generated over $800 million in trading volume. It was the second most lucrative stock market debut ever on the NYSE, behind Black Rock’s carbon fund. Why the enthusiasm? What is a Bitcoin ETF,…

The Genuine Value of APIs

This McKinsey's investigation states that at least $1 trillion in economic profit can be available globally. This money may come  from reallocating incomes across various ecosystems.  Most importantly, APIs are the linking points between technology and businesses. Today, the increasing value of APIs has resulted in the API economy. Organizations are still failing to understand the significance of securing a solid and reasonable API methodology. They consider their worth to be augmentations of internal service-oriented architecture (SOA). However, this is…

Is It Safe to Use Bitcoin Blockchain?

New Bitcoin investors often worry about how safe this technology is. And, since buying BTC could be expensive nowadays, they are not wrong to enquire about crypto safety. After all, their assets are on the line if something goes wrong with the blockchain. Bitcoin is one of the most popular digital forms of money on the planet. It has been around since 2009. For the past 10 years, this virtual currency has demonstrated to be exceptionally strong in ensuring data security.…

These Women-Led Crypto Projects Are Driving the Blockchain Industry

Blockchain and digital money have become another front in the development of the financial industry. Historically, this sector has been men's playground. However, an emerging trend of successful businesswomen has entered the fray. Today, we look closer at the women-led crypto projects ushering in a new financial and blockchain technology era. Lightning Labs The prime supporter and CEO of Lightning Labs, Elizabeth Stark, is a teacher at Yale University and a business person. She saw a chance to develop blockchain…

Crypto Sustainability and Green Solutions at COP26

It is no secret that cryptocurrencies come with a significantly high carbon footprint. Today, cryptocurrencies are more mainstream than ever and even regulate different markets. So, crypto issuers are surely researching how to cut back the energy costs. In 2021, cryptocurrency mining will turn to renewable energy use. In fact, using this type of energy would accelerate crypto adoption in many countries. During the 2021 COP26 summit, many crypto experts analyzed sustainable crypto initiatives that made the crypto news. Long-term…