I spy crypto coin trading platform

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Welcome to cryptoispy review

Your one-stop destination and knowledge source for all things related to cryptocurrencies. We will help you understand some of the basic fundamentals behind digital currencies, how they work and which are the best places to buy them from.

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We are a central authority for the most precise information surrounding cryptocurrency exchanges, cryptocurrency brokers, cryptocurrency wallets, casino as well as forex reviews. Our main goal is to offer the most information and depth of data and with that help, you make easier decisions in the future.

Knowing that the development of cryptocurrencies has been paramount over the past year or two, we pride ourselves on being one of the best and most visited cryptocurrency comparison sites. In our opinion, our reviews are also the most reliable and most frequently updated.

Unbiased reviews on crypto exchanges, brokers & more

Most importantly, we publish unbiased reviews of all the things related to crypto. This basically means that our reviews are honest, real and submitted by users. From wallet to exchange rankings, we keep things simple and let everyone review, post comments or give feedback on a specific listing.

By aggregating and analyzing all of the data from globally recognized websites related to cryptocurrencies – and integrating it in different datasets within our website – we make sure to produce cryptocurrency trade data, order book data, blockchain data, historical data, reports and real user reviews.

We continue to pride ourselves on our data integrity and invest in our technology to ensure that our infrastructure remains robust for both retail and institutional investors. To ensure the integrity of our data, we continuously review crypto exchanges, monitor for market abuse and take a lot of aspects into consideration.

Real-time and accurate market data for buying and selling opportunities

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Cryptocurrency trading

Find out how to get started trading cryptocurrency in this step-by-step guide.

Etoro cryptocurrency trading

Buy bitcoin and 15 other cryptocurrencies

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Disclaimer: virtual currencies are highly volatile. Your capital is at risk

BC bitcoin

CEX.IO

Coinjar

Etoro

EXMO

Gemini

Kraken

Paybis

Revolut

A-Z list of exchanges

Trezor

Ledger nano S

Keepkey

Jaxx

Mycelium

Electrum

Exodus

Copay

Edge

A-Z list of wallets

Bitcoin (BTC)

Ethereum (ETH)

Ripple (XRP)

Bitcoin cash (BCH)

EOS (EOS)

Litecoin (LTC)

Cardano (ADA)

IOTA (MIOTA)

Stellar (XLM)

TRON (TRX)

NEO (NEO)

A-Z list of altcoins

There are lots of different ways of making a profit (or losing money) from cryptocurrency. Trading is one of the most popular.

This guide explains where to begin, including how to choose a trading style, how to devise a trading plan, what to look for in a trading platform and things to consider.

What's in this guide?

How to trade cryptocurrency

There are five steps to getting started:

Do your research and work out whether cryptocurrency trading is right for you.

Decide whether you want to do long term or short term trading.

Choose the trading method that’s right for you.

Learn how to place trades and read charts.

Choose an exchange and start trading.

This guide walks you through each of these steps.

The different types of cryptocurrency trading

The first step is to decide between long term or short term cryptocurrency trading. Both are very different.

Long-term trading

Long-term traders buy and hold cryptocurrencies over a long period of weeks, months or even years, with the intention of selling at a profit or using it later.

If you believe the value of a cryptocurrency will grow in the long run, and don’t want the stress of actively trading, then this might be your style, and a good first step may be learning how to safely buy and hold cryptocurrency.

Short-term trading

Short-term trading is about taking advantage of short term cryptocurrency price swings by creating and executing a trading strategy.

It’s more active, stressful and risky than long-term trading, but it also offers faster and larger potential returns for those who do it right, and lets you profit from cryptocurrency prices dropping as well as rising.

If this is what you’re looking for, you can either read on for a beginner’s guide or compare cryptocurrency trading platforms to get started.

Trading means accumulating more crypto or fiat currency through repeatedly buying low and selling high.

If you do it right, your funds grow. If you do it wrong, your funds shrink over time, as bad trades and changing markets eat away at your holdings.

The value of your cryptocurrency will rise and fall, but there’s no risk of immediately losing all your money to a bad trade.

Good for: beginners, accumulating cryptocurrency, avoiding excessive risks, keeping things simple.

Not so good for: high-risk high-reward strategies, profiting from markets dropping.

Cryptocurrency trading for beginners

Before you can start trading, you need to be sure cryptocurrency trading is right for your circumstances, and that you understand the risks associated with it. You’ll also need to know what all the buttons do.

Fortunately, most cryptocurrency exchanges have similar-looking market pages, and you can safely ignore a lot of the information on the page.

Here’s an example from the binance cryptocurrency trading platform, showing the bitcoin/USDT market with the important parts annotated.

Warning: binance offers cryptocurrency derivatives which the regulator banned from sale to UK consumers in january 2021.

The red and green box at the top is the price chart. At the bottom is where you place your buy and sell orders. There are two things to pay attention to here: your order type and the amount you want to buy or sell.

In this case, binance offers three basic order types: market, stop-limit and OCO.

Market: place a buy or sell order at the current market price, to execute immediately.

Stop-limit: once you select this, you will be prompted to choose a separate stop price, and limit price. Once the asset (bitcoin in this case) reaches the stop price, it will sell for at least the limit price, if possible.

OCO: “one cancels the other.” this is two stop-limit orders combined, where one cancels the other if it’s triggered.

Market and stop-limit are the basic order types you’ll find on almost all exchanges, while OCO is a bit less common. Different exchanges will sometimes have different order types, and slightly different rules about how they can be placed.

How to make a trading plan

The difference between gambling and trading is having a plan. Creating a plan is a three step process:

1. Look for patterns

The basic principle of reading charts and creating trading plans is to look for patterns in previous price movements, and then using those to try to predict future movements.

Some patterns emerge frequently enough across multiple markets that they’re given their own names, such as resistance and support. But others are much more obscure, and are never given names of their own.

For example, if you think bitcoin goes up when ethereum goes down, or that bitcoin rises when the US dollar falls relative to the chinese renmibi, or anything else you can think of, that could be a pattern you can trade on.

2. Make a plan and stick to it

The two basic components of a trading plan are:

- A place where you take profits
- A place where you cut your losses

For example, someone’s basic plan might be to sell 33% of their bitcoin for every $1,000 the price goes up (taking profits), or to immediately sell all their bitcoin if prices drop below the current support line (cutting losses). To lay out this plan, they could set up a series of stop-limit orders.

This is not necessarily a good plan, but it would ensure that the amount they gain or lose is within sensible boundaries no matter what the market does.

As traders get more experienced, they can create increasingly sophisticated trading plans that tie together more market indicators, and allow for much more nuanced trading strategies.

Experienced traders typically use cryptocurrency trading bots to execute their strategies, because they tirelessly follow complex trading plans faster and more reliably than a human ever could.

3. Experiment

It’s good to test trading theories before throwing real money at them. Paper trading or backtesting can be useful here. Both features are often found on trading platforms.

Paper trading is a way of using fake money on the real markets, so you can test a trading strategy in real, current conditions. Backtesting is when you put a trading strategy through historical market movements to see how it would have performed.

If you’re a beginner trying to get your head around the basics of reading charts and spotting patterns, you may want to read the step-by-step guide to cryptocurrency technical analysis for a sense of how to start spotting patterns.

What to watch out for

Cryptocurrency trading incurs many of the risks of trading on any other market, as well as some unique challenges.

Volatility. Cryptocurrency is volatile. This is one of the things that makes it attractive to traders, but it also makes it very risky. Double-digit intra-day price swings are common, and drastic shifts can happen in just minutes.

Unregulated, manipulated markets. The cryptocurrency markets are largely unregulated compared to more traditional markets. It’s an open secret that wash trading and market manipulation are common. They’re also a lot less liquid than many other markets, which can contribute to the volatility and make it easier for well-moneyed “whales” to manipulate prices, force liquidations and similar. Exchanges themselves are sometimes accused of manipulating their own markets against their own customers.

Inaccurate patterns. Markets will often follow patterns, but often they won’t. This is a risk when trading anything, but the unique characteristics of the cryptocurrency market means it’s a particular challenge there.

Being over-exposed. Don’t bet more than you can afford to lose. Limit your exposure and consider setting up “take profit” and “stop loss” orders to limit your exposure in the event of drastic swings.

Using excessive leverage. Many cryptocurrency exchanges will offer up to 100x leverage, dramatically magnifying the potential risks. The volatility of cryptocurrency, combined with high leverage trading, can see positions be liquidated extremely quickly.

Not knowing when to fold. Whether you’re up or down, it’s important to know when to close a position and either take profits, or cut your losses.

Compare cryptocurrency trading platforms

When choosing a cryptocurrency trading platform, consider factors such as whether it offers derivatives or leverage, what kind of order types it allows, and how easily it can integrate with cryptocurrency trading bots.

Where to trade cryptocurrency in the UK

Warning: your capital is at risk. The value of investments can fall as well as rise, and you may get back less than you invested. Past performance is no guarantee of future results. This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade

All of the following platforms are available in the UK and offer cryptocurrency trading.

Crypto trading bot in 2021 | best 12 bitcoin trading bots

Nowadays, lots of teams provide paid and free crypto trading bots for bitcoin and other cryptocurrency. It’s a hassle for a crypto trader like you and me to choose between these services

When should you use a crypto trading bot?

Many functions that a well-executed bot can conduct for you are rebalancing, portfolio management, data collection, smart order routing, etc.

What exactly can you improve with trading bots? Let’s take a look.

#1 repetitive tasks

Repetitive tasks consume a lot of time and effort. A crypto trading bot will allow you to virtually “copy and paste” specific tasks to conduct trades with ease. One of the best ways where bots can help with repetition is in periodic rebalances. If you want to conduct hourly rebalances, then you’ll need to, as the name suggests, rebalance your portfolio every hour. So, you have two options:

Set the alarm every hour to rebalance the portfolio and lose your sanity in the process.

Create a trading bot and program it to rebalance your portfolio every hour till the end of time.

#2 timing

Timing and achieving a high degree of accuracy in your trading is essential for trading. Every single trade that you make can have an enormous impact on your potential earning. Let’s take an example. Suppose the price of bitcoin is going down, and you want to sell your position the moment BTC hits the $8,750 support line. If you were to do this manually, you’d have to patiently and carefully observe the price chart, and even then, you may not pull the trigger at the right time. The bot can be easily programmed to monitor the market and execute a trade at the correct times.

#3 complications can be simplified

Consider the example of “smart order routing.”

The idea is to route trades through numerous trading pairs.

Every single trading pair needs to be carefully determined as per its timing, asset quantity, and trading price.

This entire route needs to be finished within a specific time-limit before the market conditions change.

It seems pretty easy-to-understand, right? However, the execution of this trade could be nearly impossible. This is just one of the many examples of the several complexities that should be factored in while training. Some strategies could be almost impossible to implement.

Trading bots could be used to automate these complicated and seemingly impossible strategies with ease.

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If you are looking for a free trading bot , try poinex , they only charge trading fee, not month on month fixed pricing.

Try altrady and get 40% discount (annual plan) and 10% (monthly plan) using coupon code COINMONKS

Try botcrypto , A simple yet powerful trading bot

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Try coinrule and get 7 days of free trial and 25% for 3 months using this link .

The best crypto trading bot in 2021

#1 quadency — A smarter way to trade and manage your crypto

The best part of quadency is the backtesting feature, with which you can do it based on data and numbers instead of shooting it in the dark. It’s also the most important feature for a crypto trading bot; it’s always nice to know the performance upon history data before using your money with the crypto trading bot.

8 best exchanges to trade crypto with no fees (zero commission)

Best no-fee exchange for

Did you know the most popular cryptocurrency trading platforms in the world such as coinbase, binance and etoro take a small amount of your account balance each time you make a trade?

This is where zero-fee fee crypto exchanges can allow traders to buy, trade and sell bitcoin and cryptocurrencies assets without paying any fees. For active investors, it could be the difference between a profitable and losing trader in the long run. In this article, we will share the best places to trade cryptocurrency without fees.

How to trade cryptocurrency without fees

To trade cryptocurrency without fees or commissions, follow these simple steps:

Click the 'products' link and select 'spot trading (zero fees)'

Search for bitcoin or another cryptocurrency you want to buy, trade or sell

Enter the amount of crypto to buy or sell against another coin

Click on the 'buy' or 'sell' button to complete the trade without fees

Before getting started, some exchanges require you to own a bitcoin hardware wallet such as the ledger nano X. If you don't have a wallet, read our guide on the best cryptocurrency hardware wallets.

Platforms to trade bitcoin with no fees

Here is our list of the best crypto exchanges to trade bitcoin without fees (with our commentary):

Phemex (lightning-fast trade execution speed and features a demo trading account)

Crypto.Com (global digital asset service that offers a wide range of products)

Kucoin (trusted by 1 out of every 4 crypto holders in the world)

Digitex (suitable for crypto day traders, uses native exchange token as collateral)

Amplify (trade over 14 crypto pairs against fiat, BTC, ETH or native token)

Shapeshift (instantly swap crypto with zero fees and commissions)

BLADE (exchange is backed by coinbase and other world-class and trusted investors)

Lykke (an innovative digital exchange that offers forex, crypto and crypto index trading)

Overall rating

Our review

Website

Phemex

Phemex is a cryptocurrency trading exchange that offers spot, derivatives and simulated trading all on a single unified platform. The trading platform offers it's premium users the ability to trade crypto with zero-fees on its spot exchange for the major cryptocurrency assets such as bitcoin, ethereum, XRP and link.

Founded in 2019 by a group of 8 former morgan stanley executives, the team is focused on creating a trustworthy digital platform and become a leading financial services provider in the cryptocurrency industry. Phemex supports traders all over the world such as the united states, australia and the UK.

Phemex exchange is packed with features such as:

Trade crypto without fees on its spot-trading exchange (for premium users)

Derivatives trading up to 100x leverage with BTC & USD contract settlement

Competitive trading fees on margin trading platform

Advanced order types to manage risk

Cryptocurrency demo account for beginners to practise

300k transactions per second (TPS)

Cold wallet storage to keep funds safe on the exchange

Fast and responsive mobile trading app

Traditional financial assets (coming soon)

Users that create an account with phemex receive free access to the premium membership for 7 days. This can be extended to 30 days by referring a friend to the exchange. Once the trial ends, users on the exchange will need to purchase the premium membership which starts at $0.19USD per day to continue to trade bitcoin with zero fees.

While it might seem add to pay a subscription for no fee crypto trading, for high volume investors and crypto day traders, this is a very small price to pay to buy, trade and sell crypto without paying fees or commissions.

Crypto.Com

Crypto.Com is a digital asset platform that offers several cryptocurrency products and services. The exchange has seen massive growth in recent years and has over 1 million users on its platform and is a supported cryptocurrency exchange in the US. Crypto.Com is a popular platform that offers a powerful alternative to traditional financial services, making it easier for everyone to buy, trade and sell cryptocurrencies.

Get $50 FREE when you download the app and stake CRO for a MCO visa card using our referral code 45h3ct59tv. Get your debit card now!

With its growing list of features and crypto services, we expect crypto.Com to be one of the best cryptocurrency companies in the world within the next few years to rival the likes of binance and coinbase.

Crypto.Com is continually innovating and developing new crypto services and products for its users to accelerate the adoption of blockchain technology and improving the user experience of using cryptocurrencies. The exchange offers the following limited-time promotional offers:

0% trading fee for the first 90 days for new users

Up to 50% trading fee reduction on all trades for existing users of the exchange

2% bonus deposit interest rate for all deposits made by new users in the first 30 days

Send crypto to crypto.Com app users instantly without fees

Buy bitcoin with 0% credit card fees

The digital currency provider offers a suite of crypto services and features at your fingertips which let's you buy, sell, trade, spend, store, earn interest on crypto, loan cash and even pay bills with cryptocurrency. Crypto.Com have also announced the future launch of margin and derivatives trading to compete with bybit and FTX.

Kucoin

Kucoin is a cryptocurrency exchange that was built to cater to individuals around the globe by providing an easy to use platform for investors to exchange digital assets and cryptocurrencies. Established in late 2017, kucoin is one of the most popular crypto trading exchanges in the world with over 5 million users globally.

PROMOTION: we have partnered with kucoin to offer a special promotion of zero-trading fees for 7 days when you create a new account using our link below.

Kucoin offers innovative crypto services and products including a spot exchange, futures markets, margin trading, staking rewards, lending service to earn interest on crypto assets and even the ability to purchase cryptocurrencies using a credit/debit card.

The well-known trading platform has recently launched an 'instant exchange' to provide access to the best available crypto exchange rate in the global market. Users can purchase cryptocurrencies such as bitcoin, ethereum, litecoin and XRP with zero-trading fees or commissions.

Kucoin instant exchange is a one-click crypto exchange service that was co-developed by kucoin and a top high frequency trading firm in wall street. The integration through the instant exchange allows a quick purchase of the supported cryptocurrencies, with zero-trading fees and the best available prices.

Digitex

Digitex futures exchange (DFE) is a zero-fee, peer-to-peer crypto futures exchange that allows users to trade bitcoin perpetual swap futures contract with leverage up to 100x. The trading exchange is built on ethereum’s blockchain technology to provide a cutting-edge crypto futures exchange with zero trading fees.

The exchange model is based on users having a balance of its own native coin, the DGTX token to be eligible for zero-commission trading. Each user that places a trade increases the demand for the DGTX token.

The platform is able to offer zero-fee bitcoin trading by selling DGTX tokens to earn money. This means, you can trade crypto with high frequency without having to worry about exchange commissions and taker fees eroding your profits.

Overall, we were quite impressive with digitex and the direction the exchange is headed. However, we would like to see improvements to the user interface, which appears dated in terms of functionality and lacks advanced trade order types. This is an important aspect to trading as this is where most of your time will be spent analyzing the charts.

Amplify

Amplify exchange was launched in 2019 to solve issues in the crypto world that inhibit the broader crypto adoption and common frustrations experienced by crypto traders.

The crypto exchange offers customers all over the globe (apart from US and canada) to buy and sell cryptocurrency without paying trading fees. This means there are no additional fees above spot crypto pricing.

Furthermore, there are no prerequisites to be eligible for zero-trading fees such as financial status, degree of trading expertise and/or amount of investment making it suitable for everyone.

Amplify exchange has over 14 crypto pairs such as:

Bitcoin

Ethereum

Litecoin

Ripple

Bitcoin cash

Stellar lumens

Dash

Cardano

Ethereum classic

Basic attention token

Amplify loyalty token (AMPX)

Each crypto pair can be traded against fiat currency, BTC, ETH and the platform's native coin, AMPX token with zero-fees and commissions. When you log in for the first time, you might be a little surprised at the interface. It's not like other margin crypto exchanges. While it is very simplistic and suited to beginners.

Shapeshift

Shapeshift is a digital marketplace that was established in 2014 by erik voorhees that provides a crypto services to users all around the world. The online exchange offers the ability to quickly swap between assets in a seamless, safe, and secure environment.

In a matter of minutes, you can instantly exchange bitcoin to another altcoin and vice versa without any hassle. The team behind shapeshift have recently launched a new platform to buy bitcoin with no fees in an effort to compete with other cryptocurrency exchanges.

To be eligible for commission free, zero spread and zero trading fees on shapeshift, users need to hold their native FOX tokens. When you create an account, shapeshift deposit 100 FOX tokens for free in your account.

The new shapeshift platform allows you to:

Create a new wallet or connect your keepkey, trezor or portis wallet

Visualize your portfolio performance through a powerful dashboard

Trade crypto instantly and for free with over a thousand asset pairs by holding FOX tokens

Buy crypto with your bank account

Send, receive, and HODL your digital assets on your hardware wallet

Best cryptocurrency trading software, rated and reviewed for 2020

When it comes to trading your favorite digital currencies, there are a lot of ways you can go about getting started. Some people prefer to get down in the trenches, meticulously tracking the prices and volumes of their preferred coin. Others find solace in letting a trading bot do the hard work for them, only checking in to ensure that everything is still running as it should.

However, there’s a third option many people don’t consider: cryptocurrency trading software.

What is cryptocurrency trading software?

If you’re a subscriber to bitcoin market journal, then there’s a good chance that you know a fair amount about bitcoin and other digital assets. However, it is difficult to keep track of what is happening in the 1,000+ digital assets in the market. That is where cryptocurrency trading software can come into play.

This type of software is a way for you to analyze and understand what’s going on in the market. It’s a tool you can use to view patterns and gather data as you trade your preferred assets.

Crypto trading software is akin to trading terminals that you may have seen before on financial news when they should images of trading floor at investment banks.

Best cryptocurrency trading software

There are plenty of options on the market you can choose from. We’ve done the legwork and determine which software is best. As a result, we’ve curated a list for you so you know which cryptocurrency trading software you could use in 2020.

Name	description	exchanges supported	packages	ease of use	channels and support	score
tradesanta	tradesanta is a could-based trading software that allows you to take advantage of the digital asset market and its fluctuates. You can connect tradesanta to a variety of exchanges, which means you don't have to bounce back and forth between platforms when you want to buy, sell, or trade digital assets. The software offers a mobile app as well, which means you can track your data anywhere you go. Lastly, tradesanta offers several packages, ranging from a free option all the way up to $100/month.	Binance, bittrex, bitfinex, hitbtc	free, $15/month, $20/month, $100/month	easy to use	email, telegram, youtube	3.5
cointracking	cointracking is a digital asset software which closesly analyzes your trading behavior and provides reports in real-time on your profits and losses. It will also track the value of your favorite digital assets, project your gains, and help create reports when it comes time to do your taxes. You'll have all the coverage and data you need right at your fingertips when using this comprehensive and robust software.	Binance, biffinex, bithumb, bitmax, bitpanda, bittrex, CEX.IO, changelly, coinbase, coinspot, gemini, hitbtc, huobi, kraken, kucoin, okex, poloniex, and many other	free, $116/year, $247/year	moderate difficulty	livechat, FAQ, email, facebook, twitter, youtube	4.3
3commas	if you're looking for a portfolio balancer and trading bot that will meet the needs of the modern-day trader, then look no further than 3commas. It offers connectivity to plenty of exchanges through a single interface and has the ability to make trading decisions concurrently across them all. With tools like trailing take-profit and trailing stop-loss, you'll be able to find tune your trading. 3commas also allows users to copy the portfolios of other traders who have shown consistent growth.	Bitmex, bittrex, bitfinex, binance, bitstamp, kucoin, poloniex, hitbtc, coinbase, OKEX, huobi, kraken, yobit	free, $22/month, $37/month, $75/month	easy to use	twitter, telegram, facebook, youtube	4.5
coinigy	coinigy aims to make managing your digital asset portolio simple and easy. The software offers automatic portfolio tracking, so you don't have to monitor your accounts throughout the day. They also offer a high-definition chart which you can use for trading. Additionally, you can create one account for all the exchanges you use. That way, you can use any exchange whenever you want, from anywhere in the world. With coinigy, you'll get high-quality tools and an excellent user experience.	Binance, biffinex, bitthumb, bitmex, bitstamp, bittrex, CEX.Io, coinbase, coincheck, gemini, huobi, kraken, kucoin, poloniex, yobit, and many more	free, $18.66/month, $99.99/month	easy to use	twitter, facebook, linkedin, livechat, FAQ, email	4.8
shrimpy	shrimpy is great software for trading digital assets as well. It allows you to automate, diversify, and potentially earn from all your favorite investments. Using shrimpy provides ways to automate your trading strategy with efficient trading bots, rebalance your portfolio based on industry behaviors, and track your preferred altcoins based on market indexing. Users also have the option to replicate porfolios of other traders who have shown portfolio growth.	Binance, bittrex, coinbase, poloniex, kraken, kucoin, gemini, bitstamp, hitbtc, bitfinex, huobi, OKEX	free, $13/month, enterprise	easy to use	email, livechat, facebook, twitter, medium, telegram, linkedin	4.8

Which one is right for you?

The list above offers a few examples of the type of cryptocurrency trading software you can find on the market. While not every one of these options will meet your needs, you’re likely to find one that will get the job done.

Related reading:

If you’re curious about trading digital assets and want to stay in the know, be sure to subscribe to bitcoin market journal . You’ll get all relevant market trends and developments delivered right to your inbox!

The price of bitcoin is $31,778.12.

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Best cryptocurrency trading platform 2021

Which is the best cryptocurrency trading platform in the UK? Our seasoned traders have, in december 2020, tried out all the major platforms for cryptocurrency trading in the UK and we’ll give you all the answers. Also in this article, how does cryptocurrency trading work? Where can I trade cryptocurrency? How do I trade cryptocurrency for cash? And how will cryptocurrencies and their unique features revolutionize the ways we exchange value and minimize trust?

Best cryptocurrency trading platforms in the UK in 2021

How to choose the best cryptocurrency trading platform?

The cryptocurrency trading market

Is cryptocurrency trading a hype?

How to buy cryptocurrency?

The difference between buying and trading cryptocurrencies

What is a cryptocurrency and how does it work?

What does trust minimization/censorship resistance mean?

Why is bitcoin the biggest cryptocurrency and why is it likely to retain that title?

The ups and downs of bitcoin

The 5 best cryptocurrency trading platforms in the UK are:

Etoro cryptocurrency trading platform

Pepperstone cryptocurrency trading platform

Plus500 cryptocurrency trading platform

Octafx cryptocurrency trading platform

NSB cryptocurrency trading platform

Best cryptocurrency trading platforms in the UK 2021

Here you have the answer to where you, as a UK trader, can trade cryptocurrency. The following are solid brokers, that can be trusted and offer trading in both bitcoins and other major cryptocurrencies such as ethereum and litecoin. Take into account the quick facts of each broker in the top list and then read a more in-depth review of the broker and trading platform by clicking on the “read review” link:

- offers 17 crypto assets such as bitcoin, ethereum, litecoin etc.
- largest in cryptocurrency trading.
- market open 24/7
- spread as low as 0.75%
- leverage 1:2

75% of retail investor accounts lose money when trading cfds with this provider.

- leverage 1:2
- no commission fees
- hedge on single account
- trade BTC, litecoin, ethereum, dash bitcoin cash

74-89% of retail investor accounts lose money when trading cfds with this provider.

- availability subject to regulations. Not applicable to retail clients
- leverage 1:2
- trade all major cryptocurrencies
- trade 24/7

76.4% of retail investor accounts lose money when trading cfds with this provider.

- offers trading in bitcoin, litecoin and ethereum
- 1:2 leverage
- $100 min. Deposit
- 24/7 cryptocurrency trading

- leverage 1:2
- trade all major cryptocurrencies
- long and short trading

74% of retail investor accounts lose money

How to choose the best cryptocurrency trading platform?

Our first recommendation is that you choose a trading platform that is regulated. You have to feel safe with your investment. The best crypto platforms in the UK are regulated in different jurisdictions as you can see in the top list above. The second important criteria you should look at is what cryptocurrencies are offered by the trading platform. And the third and very important criterion is how much it will cost you to trade on that crypto trading platform and how you can withdraw your money if you want to let go of your investment.

The cryptocurrency trading market

Cryptocurrencies surprised many people in 2015-2017, through the massive price-explosion many of them have gone through. Bitcoin is obviously the foremost exponent of the crypto industry and its price evolution has been the most spectacular thus far, see the ups and downs of bitcoin below. Volatility has always been a sort of natural accessory of the cryptocurrency markets, and it, coupled with the unprecedented gains registered by the market as a whole, has turned cryptocurrencies into extremely attractive potential investment vehicles.

Is cryptocurrency trading a hype?

More and more people are interested in purchasing cryptos as an investment and more and more people are worked up about trading various crypto-based financial products. The hype is understandable: while other asset classes yield absolute maximums around the 30% mark per year, with bitcoin and its ilk, we’re talking about growth in the neighborhood of 1,000%. Above and beyond the cries of “bubble” it elicited, this ridiculous accrual of value has caught the attention of hedge fund and mutual fund managers, who now see in cryptos a very attractive way of expanding their investment portfolios.

How to buy cryptocurrency?

The most rudimentary form of cryptocurrency trading is about purchasing and holding the currencies. Crypto exchanges provide the backdrop for this type of trading, which is essentially just a newer take on the age-old buy-low-and-sell-high angle. Such investors thrive under extreme volatility and the fact that by nature, bitcoin is a deflationary currency (there’s a limited number of btcs that will ever exist), gives them a nice theoretical safety-cushion.

The difference between buying and trading cryptocurrency

Based on the above-said, it is hardly a surprise that existing online forex/CFD brokerages have already gotten in on the ground-floor of cryptocurrency trading. Though most such operators advertise that they support the trading of bitcoin, what they offer are in fact bitcoin-based cfds (contracts for difference). Cfds are financial derivatives, which means that when trading them, traders don’t actually get to own any cryptocurrency. Instead, they work with the difference between the exit- and entry-prices of their trades. With cfds, the amount by which the underlying asset price goes up (or down) is crucial, as it determines the actual profits (or losses) traders will incur.

Such crypto cfds are featured by scores of brokers. In fact, the setup has become a sort of fad among online brokers, and all those who fancy themselves cutting edge, have pinned them to their product selection, as you can see above in our top list.

What is a cryptocurrency and how does it work?

A cryptocurrency is a virtual/digital cash, payment, and settlement system, that is double spend- and counterfeit-proof. Most cryptocurrencies use a blockchain to achieve double-spend protection. The ones that are decentralized offer several other features, such as:

Trust minimization.

Censorship resistance.

Permission-less nature.

How does a cryptocurrency work?

Cryptocurrencies are virtual coins/tokens that people exchange online in a peer-to-peer manner, without an intermediary. The value of a crypto coin is defined by the market. More precisely, by what people are willing to pay for it.

On a deeper level, the value of a cryptocurrency also hinges on its utility. Scalability and transfer speeds are variables in the value equation as well.

Every cryptocurrency resides on a network. This network may be a decentralized or centralized one. In the case of bitcoin, we are talking about decentralization. The more people mine or stake a given cryptocurrency, the more decentralized its network becomes.

That raises the question: what is cryptocurrency mining?

Crypto miners are the backbone of pow (proof of work) cryptocurrency ecosystems, such as bitcoin’s. Mining consists of the painstaking churning of data with the help of specialized hardware. In addition to solving complex mathematical problems, miners also verify and add transactions to the blockchain ledger. They transmit and log transactions. They also verify and maintain the ledger. Miners get newly minted coins as a reward for their efforts and the energy they expend through computing power.

Pos (proof of stake) networks require participants to keep set amounts of digital coins in special wallets. The proof of stake method does not require computing power and it does not use up any energy to that end.

What does trust minimization/censorship resistance mean?

According to some, bitcoin is trustless. What this means is that A can pay B without the need for a third party to provide trust. According to nick szabo, one of the fathers of the cypherpunk movement, bitcoin is trust-minimized. It is as close to being trustless as possible, but it is not completely trustless.

From trust minimization stem some other attractive features. Bitcoin is permission-less. Meaning that it can be transferred from one person to another, across the globe if needed, without the permission of a third party.

As such, the cryptocurrency is also censorship-resistant. There is no trust-providing intermediary involved in transfers, which could censor certain payments. Bitcoin is a lot like cash: as long as A wants to hand it to B, there is nothing anyone can do to prevent the transfer.

Why is bitcoin the biggest cryptocurrency and why is it likely to retain that title?

As the first widely-known cryptocurrency, bitcoin enjoys something called “the first-mover advantage”. It has been around for more than ten years now. By simply being around, it has proven its feasibility to some degree. This is more than other cryptocurrencies can boast.

Furthermore, despite being somewhat clunky and cumbersome, bitcoin is not an inflexible contraption. It is programmable money. It enjoys the backing of some of the brightest minds in the industry. Bitcoin can change and incorporate changes necessary for its survival in the future. It could theoretically even adopt a pos consensus model instead of the currently used pow, although such a move is not likely.

Given these attributes, some say it is futile to search for the “better bitcoin”. Bitcoin itself is capable of changing and improving, thus becoming the better version of itself.

The ups and downs of bitcoin

Over its decade-long existence, bitcoin has been a highly volatile digital asset. It went through several boom-and-bust cycles. After each such cycle, however, it managed to hold on to some of its gains.

Interestingly, these boom-and-bust cycles have coincided with bitcoin’s halving. Every four years or so, the mining reward for bitcoin is cut in half. Currently, miners earn 12.5 bitcoins every 10 minutes in the shape of block rewards. After may 2020, this reward will be just 6.25 bitcoins every 10 minutes.

The increasing scarcity of the digital asset explains these cycles up to a point. Beyond that, human greed and emotions step up and run away with the price.

Analysts have worked out predictions regarding BTC’s post-halving price, based on past data. Such exercises are hardly exact (or reliable), however. They predict massive price gains and another parabolic bull run, sometime after the halving.

Thus far, we have had three such cycles. The latest one, that of december 2017, took the price of one bitcoin to almost $20,000. If you want to trade bitcoin you can use one of the best crypto trading platforms in the UK above. For further reading, you can see our reviews of the overall best trading platforms in the UK here.

UK crypto trading platform EXMO compromised; executives vow investigation

It’s happened again, folks. Another cryptocurrency exchange hack is in the books. This time, the victim is EXMO based in the united kingdom. At the time of writing, roughly five percent of the platform’s assets have disappeared.

EXMO has been hacked

EXMO reported earlier in the week that several of its hot wallets had been compromised by thieves. This is consistent in the crypto space and it has been reported time and time again that hot wallets do not possess the security and strength of cold storage. For one thing, they are connected to the internet, which means that anyone with a valid connection and a little technical know-how could potentially reach in and compromise the funds in question, which appears to be what happened.

Cold storage, by contrast, is not connected to the internet. All assets in cold storage are kept offline, making them much harder to steal.

At press time, EXMO has more than 27,000 customers and has a daily trading volume of roughly $52 million in crypto funds. Thus, it’s not the largest digital currency trading platform out there, but it still sees healthy spurts of business. The company has suspended all its withdrawals for the time being and is asking all customers to remain on standby while executives examine what could have happened.

The company has put out the following statement:

We are still investigating the incident, but as of now, the security audit report showed that some amounts of BTC, XRP, ZEC, USDT, ETC and ETH in EXMO’s hot wallets were transferred out of the exchange. We reacted immediately and re-deployed hot wallets. The affected hot wallets comprise nearly five percent of the total assets. Let us stress that all the assets in the cold wallets are safe.

Initially, the company placed the following message on social media to let users know that if they’ve lost money due to the attack, they will be quickly reimbursed by the exchange:

Attention! We detected suspicious withdrawal activity. All withdrawals are suspended. We’re investigating the issue and taking measures to protect your funds. If any user fund is affected by this incident, it’ll be covered completely by EXMO.

As it stands, the platform has already brought law enforcement agents on board who are now examining the evidence. In the meantime, executives are conducting reviews of all the platform’s present security systems to see if there are any doorways to future hacks that can be sealed off.

Don’t put money in your accounts

The company has also asked that while the investigation is going on, customers refrain from depositing any digital funds into their accounts. EXMO states:

In the meantime, we ask you NOT TO DEPOSIT ANY FUNDS TO THE EXISTING EXMO WALLETS. All the withdrawals are suspended for the time being.

Top 5 bitcoin trading sites in 2020

Over the past few years, cryptocurrency has exploded in the international market and revealed itself as an asset class with a proven value that isn’t going away anytime soon. As a result, more and more people are asking the question – how can I get involved in the digital money revolution? The first step is to find a list of good bitcoin trading sites.

Trading bitcoin and other cryptocurrencies may seem like a daunting task to many initial investors, but it’s actually not as hard as it seems. Choosing a reputable site via which to purchase and trade your cryptocurrency of choice is the most important first step. There are well over 100 cryptocurrency exchanges currently operating around the world so knowing which to choose can be confusing.

For your convenience, we have reviewed five of the best bitcoin trading sites currently available.

1. Etoro

The online trading platform etoro has been serving customers around the world since 2007. The israeli startup is very well-known in the financial world and recently added cryptocurrency trading to it’s growing list of services.

Unlike many other cryptocurrency trading platforms, etoro began as a traditional asset trading platform that specialized in contracts-for-difference (CFD’s). CFD’s are a high-risk and controversial financial instrument that has come under scrutiny lately. However, etoro is considered a very secure platform due to it being regulated in the united kingdom by the financial conduct authority (FCA) and in other countries via a regulatory body in cyprus.

Although the site features low trading fees and a transparent fee structure it does have high withdrawal fees of $25 and an inactivity fee. Minimum initial deposit is $200 and the platform is not available in the U.S., canada, japan, brazil, and a few other countries.

Markets: 15 cryptocurrencies

Average daily volume: $70 billion (total)

Fees: free deposits, $25 withdrawal.

2. Kucoin

Kucoin is a purely crypto-to-crypto exchange that promotes itself as “the people’s exchange” – and for good reason. Beyond just providing a trading platform, it offers a range of detailed programmes available to customers that are focused on helping improve cryptocurrency trading skills.

Kucoin features an interface that is far less complex than most major exchanges, making it more attractive to initial investors while still maintaining full functionality. It currently supports 398 active cryptocurrency markets including the of ERC-20 tokens.

In addition, kucoin features a unique trading fee structure that rewards customers based on how many kucoin shares (KCS) they hold. The standard trading fee is 0.1% and this can be reduced by 10% for every 10,000 KCS tokens the customer holds. Deposits are free and withdrawals fees differ based on the cryptocurrency.

Kucoin is supported in all major cryptocurrency-friendly countries and has apps available for both ios and android.

Average daily volume: $20,579,852.

Fees: 0.1% on all trades, with discounts possible.

3. Paxful

Paxful markets itself as the uber of bitcoin, aiming to bring together an online community of bitcoin buyers and sellers. Customers are provided with a platform through which they can communicate directly with other cryptocurrency traders and negotiate price rates before completing a sale. Both buyers and vendors benefit highly from the decentralized business model and low fee structure.

Unlike most bitcoin trading sites, paxful is more focused on creating a marketplace where users can purchase cryptocurrency in the most convenient way. Instead of a fully functional trading site, paxful offers a simple-to-use platform from which customers can buy various cryptocurrencies.

Regular buyers and sellers accrue a reputation score that helps to promote trustworthiness on the site and ensures all transactions are completed fairly.

Average daily volume: $2,000,000

Fees: 1% seller fee, buyer fees vary

4. Localbitcoins

Localbitcoins is another decentralized exchange that works in a similar fashion to paxful but connects users who are geographically close to each other. This method makes the completion of payment far easier as it avoids the high fees and waiting times associated with international bank transfers.

Localbitcoins is one of the longest-serving bitcoin trading sites and is available in over 200 countries and territories worldwide. However, due to regulatory restrictions, it is not available to customers in the united states, china, syria, indonesia, and north korea.

The platform supports multiple methods by which users can complete peer-to-peer transactions including paypal, wire transfer, western union and webmoney. The geographical search method also means it’s often easy for customers to meet and complete transactions in person.

Average daily volume: $51,000,000.

Fees: average 5%, depending on the withdrawal method

5. Binance

Binance has become one of the worlds most popular cryptocurrency exchanges over the past year due in large part to founder changpeng zhao’s continuous efforts to expand and develop the platform. Averaging $1 billion in daily cryptocurrency transaction volume, it currently stands as one of the busiest bitcoin trading sites in the world.

The binance trading platform is available in a vast range of languages, including english, korean, spanish, russian, french and japanese. It’s excellent desktop and mobile trading apps make it one of the most attractive platforms available to both professional traders and newbies alike.

Binance has apps available for both ios and android mobile phones and is supported in europe, USA, japan, australia, and all other major cryptocurrency-friendly countries. The platform is also supported by its own native digital asset, the BNB token, which has increased exponentially in value over the past year.

Average daily volume: $1,227,764,082.

Alternative bitcoin trading sites

In addition to our top five above, there are several other ways to buy and trade bitcoin that may appeal to certain customers.

Coinbase is one of the most popular cryptocurrency wallets due to its simple and appealing mobile apps. Users can quickly and easily create a verified account and then purchase several cryptocurrencies via credit card, paypal or other methods. However, coinbase has some of the highest fees associated with purchasing cryptocurrency.

BTCC is one of the oldest exchanges in the world, dating back to 2011. It offers purchases in credit card, wire transfer and cryptocurrency with a 0.1% fee.

Bitbay is another bitcoin trading site that offers hassle free purchases via credit card. In addition, it features its own bitbay debit card that can be used to withdraw cryptocurrency at any ATM around the world that supports mastercard.

Buying bitcoin safely

While improvements in safety are being made on a daily basis, cryptocurrency remains a largely unregulated industry. For this reason, it’s imperative to always use a reputable website with a good track record of secure operation. Always ensure you are using a secure internet connection and if possible, use a platform that provides two-factor authentication.

Author

Mark hartley

Mark hartley is an IT specialist, freelance writer, world traveller and crypto enthusiast. He has worked on the trading floors of the world's biggest interdealer broker in london and helped integrate crypto-services into IT trading systems. When he's not searching for the world's most beautiful beach, he's nose deep in any news crypto and blockchain related. *any information provided here is for educational purposes only and should not be considered financial advice

Top 5 cryptocurrency trading and betting platforms with free demo money

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Cryptocurrency trading is quite challenging. Therefore some crypto trading platforms provide their users with free demo money to make the first steps easier. Here is the top-5 of them.

Cryptocurrency price prediction isn’t something you can just get into straight away. It comes with a multitude of challenges that you need to be aware of because you can start putting in your real money. That’s why many crypto trading platforms give you free demo money when you sign up.

This doesn’t only allow you to understand the user interface and learn how to trade on the platform but also gives you the opportunity to make yourself aware of the dynamics of the cryptocurrency market. You can develop an understanding about volatility, technical analysis, and general trading rules without risking losing your real money. Here are 5 best crypto trading platforms that give you free demo money.

Alphaplay

Alphaplay is a unique platform as it combines crypto trading and fun into a single platform. It’s a blockchain-based service that allows users to bet on real cryptocurrency prices to earn money. On alphaplay, every user gets $1,000 of demo money without going through any registration process. This helps them to learn the interface as well as evaluate different betting strategies.

The platform is selling ALPHA ERC20 tokens which allow users to receive 6% of the turnover in terms of loyalty bonuses while the recommendation program will distribute 4% of the turnover among players who play with their friends and attract new players. The remaining 90% is distributed as prizes. All of these disbursements are made using smart contracts to keep it fair and transparent.

Etoro

It is one of the largest cryptocurrency trading platforms that follow the social model. It means that it allows cryptocurrency investors to copy the trades of successful traders. Users can also learn from the vibrant community that posts insightful status updates and technical analyses.

The trading platform also has its own mobile application which makes trading easier on the go and you don’t need to stay glued to your computer screen all day long. With more than 12 million users, etoro is one of the top social trading platforms for all types of traders – from beginners to seasoned investors.

Plus500

On this digital asset trading platform, you can demo trade a variety of cryptocurrency cfds including the most popular ones such as ethereum, bitcoin, litecoin, neo, cardano, ripple‘s XRP, EOS, and more. The platform has a user-friendly interface without any distractions where you can easily find the listed crypto pairs you are interested in. There are charts available that enable users to see patterns and trends to make informed trading decisions.

You are automatically directed to a demo account so you can learn the ins and outs of crypto trading without putting your real money at risk.

Stormgain

It is a new crypto trading platform that gives users the opportunity to trade with up to 200x leverage. Beginner traders can use the demo trading account which contains all the features and functions of the real account. Users can see their positions, wallet balance, live price charts, and a variety of cryptocurrency pairs on the dashboard. You can also add patterns and trend lines to lay out your strategy and execute better trades. With an easy to user interface and a range of modern features, the trading platform is ideal for beginners.

Bybit

Offering a modern and intuitive user interface, bybit is another crypto trading platform for all types of traders. It offers a demo trading mode where users can set up a testnet to learn cryptocurrency trading. A testnet is like a crypto blockchain that can be used for testing trends and patterns allowing traders to test with real cryptocurrency prices instead of using a simulated environment. Real price volatility and movement are better trading teachers as compared to simulations.

Final word

Cryptocurrency trading can be quite a challenging experience especially if you are just starting out. You need to be wary and cautious to ensure you don’t lose your hard-earned money due to some misstep. That’s why many top crypto trading platforms give you the option to learn using a demo account and money so you can get used to the market dynamics as well as the platform.

Moreover, different types of platforms have different unique selling points. From social trading to betting on crypto prices, you have the option to choose your preference.

Cryptocurrency investor, journalist, analyst, and growth hacker. I cover crypto, blockchain, crowdfunding, and education.

So, let's see, what we have: cryptoispy review don’t lie is one of the most reliable review sites for crypto exchange websites. In a nutshell, our crypto comparison service helps users see whether a website is legit and outlines the basic terms and conditions on how to begin trading, exchanging or simply buy cryptocurrencies. After we got funded at i spy crypto coin trading platform