After two years of a bear market, Bitcoin is once again beginning to enter a new bull market, and trading is heating up more than ever.
Trading volumes are skyrocketing to the highest level witnessed in months, and volatility is picking up, providing the perfect environment for traders to turn a profit.
Interest surrounding the emerging asset class of cryptocurrencies is buzzing once again, and will only grow into the future as the new, disruptive financial technology becomes more widely adopted worldwide.
There’s never been a better time to trade Bitcoin, but beyond simply finding the right trading strategy for the new trend change, selecting the right platform is a critical decision that can make a world of difference in terms of profit, security, user-friendliness, and much more.
The below list is designed for you to discover for yourself the benefits of each of the most popular Bitcoin-based margin platforms and pick the platform that offers the most opportunity to grow capital quickly, safely, and efficiently.
Other tips on each platform are also included to further tailor your trading platform selection to your individual needs.
PrimeXBT takes trading seriously, and the tools they provide are top-notch. Built on decades of experience across traditional markets, PrimeXBT provides everything from helpful tutorials to show newcomers the ropes, along with advanced trading tools like built-in charting software and more for more experienced traders to take advantage of.
PrimeXBT offers leverage of up to 1000x across many of the platform’s extensive list of financial assets, which include the world’s most popular forex currencies, stock indices, commodities, gold, silver, and cryptocurrencies like Bitcoin, Ethereum, Litecoin, EOS, and Ripple.
Other platform benefits include ROI-boosting trading tools, four-level referral program, world-class customer service, no KYC process for unmatched privacy, bank-grade safety, and innovative features like a Telegram bot coded to provide up-to-the-minute position and price data.
Read our PrimeXBT Review here.
BitMEX has the most trading volume across all Bitcoin-based margin trading platforms and is the most popular across the cryptocurrency market.
The platform offered traders the ability to long or short the crypto market before it became all the rage causing the demand that drove the emergence of the fierce competition found throughout this list. However, despite the leadership role, the platform is somewhat notorious.
BitMEX offers a wide variety of contracts on Bitcoin and altcoins at various levels of leverage. The platform offers a referral program for additional earnings.
Read our BitMex review here.
Binance is one of the most popular cryptocurrency exchanges across the industry. The platform started out as a spot trading platform, known best for its extensive list of exotic altcoins, it has since introduced margin trading.
Margin trading is capped to just 5x, although the platform also offers a Bitcoin futures product at 125x leverage. Regular margin trading is available across dozens of altcoins in addition to Bitcoin, Ethereum, and other major cryptocurrencies.
Binance also offers a launchpad platform for initial exchange offering token launches, has a native cryptocurrency token that provides users with discounts and other benefits, and has a very positive reputation in the eyes of the crypto community.
Read our Binance review here.
Deribit offers either a European style cash-settled option for Bitcoin with margin up to 10x or a futures contract for up to 100x leverage. Altcoins are also available, but unlike PrimeXBT, BitMEX, and others, the individual altcoins must be owned and not just Bitcoin.
The platform has experienced some struggles around stability and flash crashes, but have done right and refunded customers who experienced unexpected losses during extreme volatility.
Overall, Deribit is praised for its trading tools and is popular among the cryptocurrency trading community.
DueDEX is a newcomer that has grown in recognition quickly due to having a referral program similar to PrimeXBT where users earn not only from referrals, but any new users referrals bring in as well. The only difference is that DueDEX offers just two levels, instead of four.
What has helped the platform grow is an aggressive welcome program offering up to $70 in BTC for new users who register and complete a set of specific requirements.
DueDEX offers Bitcoin-based perpetual swap contracts with up to 100x leverage. The platform only focuses on Bitcoin – no altcoins and no other assets.
ByBit is a margin trading platform offering contracts for Bitcoin, Ripple, EOS, and Ethereum.
Leverage is variable, at up to 100x leverage on Bitcoin and up to 50x on altcoins.
ByBit is a very basic and straightforward Bitcoin-based margin trading platform, offering a no-frills, just thrills, experience. There aren’t a number of extra features to brag about or dozens of assets or tools to choose from.
However, the platform is said to have a stable experience and many appreciate the platform’s simplicity and less clutter of features they don’t utilize.
Bitfinex is the grandfather of Bitcoin-based margin trading, and while the platform is showing signs of aging and going out of style, it’s still incredibly reliable and a popular platform for high wealth customers.
But despite its longevity, the platform’s reputation is relatively tarnished due to an association with the company behind the stablecoin Tether.
Also showing that it is lagging behind the rest of the pack, the platform only offers margin up to 3.3x leverage – the lowest on the list. Some might argue that it’s best to play it safe, but when it comes to crypto, the incredible reward is worth a little extra exposure to risk.
Read our Bitfinex Review here.
While the variety and selection may feel overwhelming, carefully considering each of the platform’s benefits will lead to the right choice for you.
When selecting a platform, consider your personal needs, tastes, risk appetite, and more.
Does the platform offer a variety of other assets or exposure to altcoins cryptocurrencies beyond just Bitcoin? Are you interested in other ways to earn income from the platform, or are the platform’s trading tools enough for you?
Only you can answer these questions, but remember, your needs may change over time, so choosing the platform that offers the most functionality, safety, and opportunities to generate profit may be the best decision for the long term when considering which Bitcoin-based margin trading platforms to choose from.