7 BEST Crypto Exchanges for Day Trading (2023)
Barbara Thompson
Crypto day trading involves swapping crypto coins on cryptocurrency markets at any time. The day traders use it to enjoy short-term price changes. You’ll need a crypto exchange suitable for day trading to get started.
Choosing the best crypto exchanges for day trading gives you flexibility and convenience. You’ll access many crypto markets and advanced trading tools like bots or APIs. Some of the best crypto exchanges for day trading allow you to copy trades from experts or use p2p trading.
We’ve spent many hours gaining knowledge on the best crypto day trading tools. The aim is to provide you with the right tools based on our experience. Review our crypto day trading tools list covering features, key stats, and pros and cons. They are the Best platforms to day trade crypto you need.
“The priorities when choosing the best crypto exchanges for day trading are low fees, liquidity, and security. A crypto exchange should be user-friendly and have various crypto coins and tokens. The reputation of the crypto day trading platform rises with customer support and mobile access. They can also have advanced trading tools helpful in implementing complex trading strategies. Our guide provides a list of the best crypto exchanges for day trading platforms to fit your needs.”
Best Crypto Day Trading Platform & Exchanges
| Best crypto exchanges for day trading | Trading fee | Leverage | Account Opening fee | Minimum Deposit | Crypto listed for day trading | Link |
|---|---|---|---|---|---|---|
| Binance | 0.1% | 1X to 100X in Tiers 1 to 10 | $0, Free | $10 | Over 500 | Learn More |
| Kraken | From 0.04% in a maker/taker model. | Up to 5X | $0, Free | 0.00001 BTC | Over 200 | Learn More |
| Coinbase | From 0.05%. | Up to 5X | $0, Free | $50 | Over 150 | Learn More |
| Crypto.com | From 0.075%. | Up to 10X | $0, Free | $20 | Over 250 | Learn More |
| ZenGo | It depends on the crypto network. | Unavailable | $0, Free | $30 to $50, depending on the deposit method. | Over 120 | Learn More |
1) Binance
Best for accessing numerous cryptocurrencies.
Binance is a regular and an OTC trading platform with many crypto tokens and coins. You can connect other trading applications to Binance using its custom API. The crypto exchange’s lowest deposit is low and guarantees a convenient interface. It has other crypto markets in DeFi, margins, dApps, and NFTs.
The crypto day trading exchange offers you low spreads, which are vital for frequent trades. Crypto day traders get more discounts on trading fees when they trade their BNB token. Binance lets you earn from your crypto assets through stablecoins.
Day traders can also borrow to stake on futures, margin, and spot trading. It is the best crypto exchange for partial liquidation and flexible repayment. You can also use dual investment trading to access higher rewards. The low fees on the exchange will help you maximize profits and you can trade Bitcoin for free in Binance.
Features:
- The Binance feed gives the latest crypto news from influencers and mainstream media.
- You can access the Binance community to interact with other traders and learn about crypto.
- Binance rewards you on your idle tokens.
- It has various payment methods to fund your crypto account.
- Use Binance NFT to explore fan tokens, IGOs, and rare mystery boxes.
- Crypto day traders can get paid for their business through Binance Pay and Binance Marketplace.
- Binance protects a share of user funds by storing 10% of all the trading fees.
- The crypto exchange lets day traders personalize control to manage addresses and devices.
- Your data is secure through end-to-end encryption.
- Access the Binance blog to keep up with the latest crypto commentary and stories.
- Funding methods: Visa, Mastercard, P2P, Bank transfer (BBK)
- Charting tools: Available
- Order types: Limit, market, stop-limit, One-cancels-the-other (OCO)
- Coins Supported: Over 500, including Bitcoin, Ethereum, Ripple, HEX, etc.
- Mobile application: Available on iOS and Android
- Customer support: Available through the support center and customer agents.
Pros
Cons
Trading Fees:
Binance uses a maker/taker model for its fee system. It charges a 0.1% transaction fee on its regular trading transactions. Options and futures trading incur a lower transaction fee of 0.02%. You will pay a 3.5% charge when withdrawing your crypto. But you’ll not pay any deposit fees.
The crypto exchange’s lowest transaction value is $10. It has a dynamic volume-based pricing ranging at about $0.000701 per (VOL / USD). The trading volumes are in different groups, from low to high limits.
Free trial: Yes, lifetime pass
2) Kraken
Best for a simple crypto portfolio with stablecoins
Kraken is a user-friendly crypto day trading platform. The exchange lets you earn up to 5X leverage in over 100 markets within the crypto exchange. It is the best crypto exchange for margin trading to short or long-trade crypto coins on its markets. Experienced day traders can switch to the pro trading interface. It lets you access more tools, like order options.
The crypto exchange stabilizes margin trading fees for better position predictions or calculations. Trading many times on the platform will earn you higher margin limits and low fees. The crypto exchange offers comprehensive coverage of extensive spot markets for day traders. It is one of the best crypto exchanges to isolate your trading strategies and Kraken has a free crypto trading learning center.
Features:
- Stake your assets and earn up to 26% interest as a reward. You can stake over 12 crypto assets.
- Use Kraken Pro for spot and margin trading, supporting advanced orders.
- It has high liquidity to support large trades at stable prices.
- Crypto day traders get a low average cost per trade because of the minimal spreads.
- The exchange speeds up your trades using a low-latency API.
- Margin trading has about a 5x leverage.
- It has over 100 multi-collateral futures contracts.
- Funding methods: Visa, Mastercard, ACH online banking, Google Pay, and Apple Pay.
- Order types: Take profit limit, stop loss limit, stop loss, market, limit, and take profit.
- Coins supported: Over 200
- Mobile application: Available on iOS and Android.
- Customer support: Available: support center and live chat.
Pros
Cons
Trading Fees:
Kraken has a maker-taker starting from 0.04%. The rate decreases with the increase in trading volume. Frequent traders also get unique discounts on their transaction fees. It ensures the crypto day trading platform maintains high liquidity. The move also boosts market interactions.
Note that the discount incentives are independent of the trading volume pricing. Kraken groups the trading volumes in tiers. The exchange does not charge you any deposit fees.
Free trial: Yes, Lifetime pass
3) Coinbase
Best for accessing a simple interface and crypto learning.
Coinbase has powerful tools to enhance your cryptocurrency day trading. An example is TradingView. It has various APIs, order types, and advanced charting tools. Coinbase encrypts all services for your security while you trade crypto. The crypto day trading platform has over 550 markets to choose from.
Coinbase Pro will get you low fees through the volume-based trading model. You can upgrade your account using One Balance to unlock all its features, even from the Pro version. The Coinbase Advanced API offers more control with a custom watchlist. It also has other features like technical indicators and live crypto market data.
Your crypto assets won’t be lent out without your permission. They are also backed up in a 1:1 ratio to maintain high liquidity and protect against volatility. It is the best crypto exchange with real-time order books that help you execute fast trades. Day traders manage volatility better with stop-limit and limit orders.
Features:
- It has free web3 profiles for accessing tokens and NFT collections.
- Coinbase has a simple interface to manage all digital currencies and trade crypto in one place.
- You can schedule crypto buys in months, weeks, or hours.
- It provides delayed withdrawals for added security.
- All digital currencies are stored offline for safety.
- The exchange maintains a risk management plan to protect users against crypto market shocks.
- Day traders can set up business payments through Coinbase Pay.
- Funding methods: Debit card, Bank transfer
- Order types: Stop-limit, market, limit.
- Coins supported: Over 150.
- Mobile application: Available on iOS and Android.
- Customer support: Available through the support center.
Pros
Cons
Trading Fees:
Coinbase uses tiers based on trading volume to determine transaction fees. The spread starts from a low of 0.05% to 0.6%. Coinbase specifies that each tier’s marker and taker fees are subject to change.
Free trial: Yes, lifetime pass
4) Crypto.com
Best for comprehensive cryptocurrency insurance.
Crypto.com values itself as the crypto day trading platform that offers true cost. After applying and qualifying for a crypto.com Visa card, you can spend your crypto earnings. The crypto day trading platform offers discounts and low fees when you spend using the card. You’ll save more with a high monthly trading volume.
It is the best crypto exchange for day trading, where you stake your DOT, SOL, and ETH. You can do so on various blockchains to earn interest. It lets you set up price alerts for crypto coins such as Cronos, Polkadot, or Bitcoin. They will help you trade crypto by monitoring your trading positions. There is no fixed period for the crypto assets you lock up to earn rewards. You can earn up to triple the yield on DeFi Swap.
Features:
- Crypto.com regularly updates its proof of reserves.
- You can create recurring buys for your favorite cryptocurrencies.
- Earn passive income through on-chain staking.
- Get your crypto.com card and get up to a 5% chargeback.
- The exchange lets you earn lockup rewards from over 21+ cryptocurrencies.
- It maintains a deep order book liquidity for high trading volumes.
- The exchange complies with various security standards. An example is the ISO/IEC 27001:2013.
- Its DeFi features include Swap, Earn, and Wallet.
- You have the option to store your crypto wallet keys.
- It has a detailed learning center with educational resources for crypto traders.
- Funding methods: Diners Club Debit and credit cards, Discover, JCB, American Express, Mastercard, Visa, Crypto.com Pay
- Charting tools: Available.
- Order types: Take-profit, stop-loss, market, and limit.
- Coins supported: Over 250.
- Mobile application: Available on iOS and Android.
- Customer support: Available through the help center.
Pros
Cons
Trading Fees:
Crypto.com has negative and positive fees on each transaction. You will enjoy the negative fees if you lock up your CRO tokens on the crypto day trading platform. The discount will increase with the more CRO you lock up. The crypto exchange uses a maker-taker model for regular transactions from 0.5%. It goes down with higher trading volume. You don’t pay any deposit fees.
Free trial: Yes, lifetime pass
5) ZenGo
Best for a self-custodial wallet without a seed phrase.
Zengo is a non-custodial crypto exchange. It means that it does not hold any of your cryptocurrencies on its systems. The crypto day trading platform only facilitates swapping of your crypto tokens. It has a secure asset recovery module if you lose your wallet keys. You do not need a seed phrase to protect your wallet.
It is the best crypto exchange for day trading that audits its systems for asset security. They also test scripts such as cryptographic penetration testing on its systems. You can join their White Hat Bounty program to take part in their open-source audits. The exchange uses a face map for extra security. It also has advanced authentication for recovery.
Features:
- You can upgrade to Zengo’s MPC wallet for added security.
- The exchange supports connecting, selling, or buying Web2 Dapps.
- It offers a multi-chain wallet for trading NFTs and other crypto assets.
- ZenGo uses cryptography to secure user accounts and wallets.
- You can activate its 3-factor authentication. It’s through a recovery file, 3D FaceLock, and an email account.
- ZenGo’s legacy transfer facilitates convenient asset inheritance to friends or family.
- Trading crypto on the exchange does not need KYC.
- Biometric verification secures all withdrawals.
- Funding methods: Bank transfer, Google Pay, Apple Pay, Visa, Mastercard, Moonpay
- Charting tools: Available.
- Order types: Market.
- Coins supported: Over 120
- Mobile application: Available on iOS and Android.
- Customer support: Available 24/7 through the help email.
Pros
Cons
Trading Fees:
Zengo has four fees in one transaction. They are network, spread, local currency conversion, and gateway fees. The network fee represents the percentage contribution to the blockchain you operate in.
Operators get the spread fee for facilitating the crypto exchange services. The gateway fee covers the extra costs operators incur in the transaction. You’ll pay a local currency conversion fee in a fiat swap.
The total fee for any transaction is Network fee + Gateway fee + Spread fee.
The deposit fees are spread starting from 1.5% to 3.75%, depending on the payment method.
Free trial: Yes, lifetime pass. There is no free trial on ZengoPro.
6) Bisq
Best for trading on an open-source app using p2p network.
Bisq is a crypto exchange based on Bitcoin and its trading pairs. The fiat transactions or altcoin wallets go through cash and money orders. It uses a seed phrase and wallet keys for double security. You should backup these security components to avoid losing your crypto assets.
It is the best crypto day trading exchange that allows you to make an offer on transactions. The exchange also gives you control over the deposit and transaction fees. You can modify notifications to receive alerts on such open trades. It has a custom view to help you analyze your cryptocurrency fees and transaction costs.
Features:
- It does not require KYC verification.
- You trade on a P2P network managed by users.
- All user deposits are in 2-of-2 multi-sig wallets, so Bisq does not hold any funds.
- The Bisq nodes operate in a Tor hidden service.
- It stores all your data on a local disk for cold storage.
- The exchange is open source on GitHub and Keybase.
- Bisq has Bitcoin-based decentralized governance.
- You can access Bisq’s free community with crypto, security, design, and development experts.
- Funding methods: Zelle, Western Union, Uphold, US Postal Money Order, Bank Transfer, SEPA, Revolut, PromptPay, Popmoney, MoneyBeam, Interac e-Transfer.
- Chart tools: Not available.
- Order types: Market.
- Coins supported: Over 120
- Mobile application: Available on iOS and Android.
- Customer support: Available through the support center.
Pros
Cons
Trading Fees:
Bisq has its BSQ token backed by Bitcoin. It offers a 50% discount on all charges when you trade with BSQ. The regular transaction fee is 1.3%, representing 1.15% for the taker and 0.15% for the maker. It has a minimum transaction charge of 0.00005 BTC or 0.03 BSQ to avoid dust.
The DAO voting system determines the minimum charges and transaction fees. Dao members propose and verify these charges.
You don’t pay a deposit fee. But you’ll need a security deposit of 0.01 BTC.
Free trial: Yes, lifetime pass.
Link: https://bisq.network/
7) Bitsgap
Best for automating crypto trading via algorithm orders/bots.
Bitsgap is the best crypto exchange for day trading that is non-custodial. It connects you to several exchanges which you can use for day trading. You don’t need to deposit funds at first because it has a demo account for practice. The premium plan offers advanced trading features, which you will access on the free trial for 7 days.
You won’t incur extra transaction fees except for the monthly subscription. Bitsgap settles all the balances from their end by collaborating with other exchanges. You access advanced trading tools that you cannot get in regular crypto exchanges.
Bitsgap lets day traders use hardware or hot crypto exchange wallets. It encrypts all connections to prevent interception while you are trading crypto. No one at Bitsgap has access to any of your crypto assets. It’s because all the operations are within your wallet.
Features:
- You do not need a credit card to start its free trial.
- Trade smart orders with powerful trading bots.
- You access an advanced terminal, which you can switch between exchanges.
- Bitsgap does not control your crypto coins or wallet.
- An API connection secures your link to crypto exchanges.
- It collaborates with popular exchanges for stable order execution when trading crypto.
- Funding methods: Paypal, MasterCard, Visa.
- Chart tools: Available through TradingView.
- Order types: Scaled, TWAP, Stop limit, Stop, Market, OCO, Trailing take profit, Take profit, Stop loss
- Coins supported: Over 600
- Mobile application: No, only available through a web application.
- Customer support: Available through the Bitsgap Helpdesk.
Pros
Cons
Trading Fees:
You don’t pay any transaction fees to trade on Bitsgap. It’s because you’ll pay a monthly charge of between $23 and $119.
Free trial: Yes, 7-day free trial with no credit card required.
8) BYDFi
Best for copy trading and crypto derivatives.
BYDFi is a unique crypto day trading platform because of its social features. It unites crypto trading professionals and amateurs, who can explore the markets together. You can trade up to 60 fiat currencies. It’s because it collaborates with Coinify, Mercuryo, and BANXA. The crypto day trading platform lets you earn up to 200x leverage. You’ll do so by using its advanced trading mechanisms.
Day traders can promote BYDFi and earn referral bonuses. It offers you a demo account when you sign up to help you learn more about the platform. You can download a comprehensive asset statement to get a clear insight into all your trades. The statement also covers the rewards you earned on the crypto exchange.
It has a simple convert option for you to swap between cryptocurrencies. It is the best crypto day trading platform that settles all your contracts using USDT. The exchange uses the stablecoin for consistency in your earnings. It also protects against crypto volatility. Day traders can create their crypto copy trading profile and share their trades.
Features:
- You earn rewards by opening mystery boxes once you are a verified user.
- It is regulated in Canada and the United States with multiple licenses.
- The exchange facilitates fast crypto to fiat withdrawals.
- It supports derivatives trading and margin accounts.
- You can access perpetual contacts available in BNT/USDT and KAS/USDT.
- The exchange guides beginners using simple and complex features.
- Funding methods: Bank transfer, credit card.
- Chart tools: Available through TradingView.
- Order types: Market.
- Coins supported: Over 40
- Mobile application: Available on iOS and Android.
- Customer support: Available through Email.
Pros
Cons
Trading Fees:
BYDFi charges an opening fee of 0.05% on all leverage and margin traders. The spot trading fee is from 0.1% to 0.3% in a maker model. The exchange does not charge you any deposit fees.
Free trial: Yes, lifetime pass.
Link: https://www.bydfi.com/en
What is crypto day trading?
Crypto day trading occurs when you exchange your cryptocurrencies within one day. It is a broad trading strategy that is valuable to adjust your crypto positions. Its other sub-strategies aim to take advantage of the small price changes.
Trading is all about price movements which alter the value of the coins every moment. Crypto-day trading is a way to watch the markets and trade how you feel will benefit your portfolio.
What are the best crypto day trading strategies?
Crypto day trading strategies are specific methods for exchanging digital assets. There is no particular crypto day trading strategy for every trader. Everyone has their style or what works for them. Let’s review the best crypto day trading strategies you can use.
- Scalping
- Trading volatility
- The underlying dividends on the asset
- Risk-free interest rate
- Expiration of the option
- Type of option
- Strike price
- The underlying price of the asset
- Arbitrage
- Range trading
- High-frequency trading
- Portfolio rebalancing
Scalping applies in crypto day trading and other financial markets. This strategy allows day traders to enjoy short-term or small crypto market movements. You can buy and sell a crypto coin within seconds or minutes. It is suitable for crypto day trading because you can repeat it many times in a short period.
Crypto markets are volatile because crypto coins represent different values and projects. The strategy lets you predict the price of a cryptocurrency through options. You’ll need to understand the various factors that affect the volatility of the asset. They include:
There are various crypto markets and exchanges. So, there is a probability of price differences in the crypto coins. For example, Bitcoin in the USA might be cheaper than in South Korea.
The price differences let day traders profit. It’s from the spread using alternate crypto exchanges. You can apply it as one of your automated trading strategies. The profits from arbitrage will depend on the low trading fees you get on an exchange.
A trader may identify a range that a crypto coin price stays within. They use the data to manipulate their positions and enjoy the short price changes. You’ll need to study charts to identify the range or use automated trading tools like bots. They will be influential in your technical analysis results.
It is a complex strategy that you use to identify the smallest price changes. If you are keen, you’ll take advantage of trading in small durations. It’s possible with trading bots that will trigger alerts to guide you through the charts. You’ll use it when day trading crypto because you must adjust your portfolio.
Rebalancing lets you adjust your portfolio to fit your risk tolerance. It is part of a long-term strategy in crypto day trading to get specific gains.
You’ll adjust your positions daily to fit your technical analysis or predictions. It also enables day traders to fit strategies into one while investing in new tokens. That’s why you need the best app for crypto day trading from our list.
How to pick an exchange for crypto day trading?
You need a reputable crypto exchange for your day trading. There are essential issues that you should consider before picking one. The following is our review of how to pick an exchange for crypto day trading.
Step 1) Confirm the number of coins.
Create a list of the crypto coins that you would like to trade. It will help you get a suitable crypto exchange to support the type of token you need. Not all crypto coins are on every exchange. It is because of different reasons, such as regulation or vetting.
Step 2) Check the exchange’s liquidity.
Liquidity is what drives every crypto exchange. It is vital for swapping coins with fiat currencies and vice versa. High liquidity is like a safety net whenever you want to cash out your crypto investment. All you need is to day trade crypto without delays.
Step 3) Analyze the trading fees.
You will incur a lot of transaction fees if you are a crypto day trader. It is because of the frequency of your trades. An exchange with low trading fees will get you more value for your activities.
Step 4) Review the crypto exchanges’ security policy
Security is a critical issue in crypto day trading and other financial markets. Ensure your crypto exchange has the best security features. Examples are cold storage or multifactor authentication. Check their history to confirm various issues. They include a history of theft, corruption, or cyberattacks.
Step 5) Research audits and tax reporting
The most reputable crypto exchanges audit their institution for transparency. Examples of audit standards are SOC 1 and 2. They are essential in reviewing a crypto exchange’s technology systems and finances. You need crypto exchanges that publish their tax reports. It’s because you need a responsible organization to manage your money and data.
Step 6) Review the insurance policy.
Crypto exchanges store money in banks like other financial organizations. They usually sign insurance plans with these banks to protect their assets. Check the insurance policy of any crypto exchange to confirm whether your cryptocurrency is covered.
How to use a crypto day trading platform
After choosing your crypto day trading platform, you need to know how to use it. Most crypto exchanges are similar in how they operate. The following guide applies to any one of them. Here’s how you’ll use a crypto day trading platform.
Step 1) Create your account and complete KYC
Visit the crypto exchange website and create an account. You will then fill in KYC data such as your I.D. number and name. It is a standard procedure to capture user data for creating your account.
Step 2) Setup payment method
The crypto day trading platform will prompt you to add a payment method after you verify your account. For example, you can add a debit or credit card such as Visa. The payment method should match your account credentials to work.
Step 3) Deposit funds
It’s now time to deposit funds after verifying your information. Crypto exchanges allow you to switch fiat money with crypto in various markets. Deposits will reach your account depending on your method, and most are instant.
Step 4) Look for a crypto trading market.
Crypto exchanges have varying markets that you can choose from. You can also buy a crypto asset without using a specific market. The crypto exchanges for day trading let you search for your preferred crypto assets. They can also recommend cryptocurrencies, such as those trending in the crypto market.
Step 5) Place your first trade.
You can now place your first trade by exchanging fiat for crypto. The crypto exchange for day trading will determine the least amount. They’ll also calculate the transaction fee. As a day trader, you’ll track your trades to alter them whenever you want. You can use functions such as copy trading in some of the best cryptocurrency exchanges for day trading.
The verdict
Our guide covers the best crypto exchanges for day trading available globally. They have different tokens and markets. These tools will give you value for your time and investment. Our verdict highlights the top crypto day trading exchanges as follows:
- Binance is ideal for accessing a vast number of crypto coins and tokens. It also offers very low trading fees.
- Kraken offers a convenient way to manage a crypto portfolio.
- Coinbase gives you the best crypto educational resources.
FAQs
Best Crypto Day Trading Platform & Exchanges
| Best crypto exchanges for day trading | Trading fee | Leverage | Account Opening fee | Minimum Deposit | Crypto listed for day trading | Link |
|---|---|---|---|---|---|---|
| Binance | 0.1% | 1X to 100X in Tiers 1 to 10 | $0, Free | $10 | Over 500 | Learn More |
| Kraken | From 0.04% in a maker/taker model. | Up to 5X | $0, Free | 0.00001 BTC | Over 200 | Learn More |
| Coinbase | From 0.05%. | Up to 5X | $0, Free | $50 | Over 150 | Learn More |
| Crypto.com | From 0.075%. | Up to 10X | $0, Free | $20 | Over 250 | Learn More |
| ZenGo | It depends on the crypto network. | Unavailable | $0, Free | $30 to $50, depending on the deposit method. | Over 120 | Learn More |