The Best Cryptocurrency Leverage Trading Exchanges

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What are the top cryptocurrency leverage trading platforms?

As we know that leverage trading on Cryptocurrency is very risky and should be done with the utmost caution, the exchange on which we do leverage trading also matters. Choosing an exchange to trade Cryptos on leverage is an integral part. Depending on how credible the exchange is that secure our funds will be. However, holding a large amount of Cryptos in the exchange you chose is dangerous as they are vulnerable to fraud. Hence cold wallet is the best place to store Cryptos especially if they are in large volumes.

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List of top credible exchanges where you can leverage trade cryptocurrencies

  1. BITMEX
  2. PLUS 500
  3. POLONIEX
  4. BITFINEX
  5. DERIBIT

leverage trading diagram cryptocurrency

1. BITMEX

BitMEX

Bitmex.com is one of the largest Bitcoin trading websites in the world. It was founded in 2014 by Arthur Hayes, Samuel Reed and Ben Delo. This site gained a lot of popularity over the last few years. Over 1 million Bitcoins are traded on this website in the summer 2018 alone. That obviously is a huge amount of Bitcoins that got traded in such short period of time. The major difference between BitMEX and other Bitcoin Trading sites is that BitMEX accepts deposits only in Bitcoins. No other fiat currencies wire transfers what so ever. Leverage Trading is one of the major financial services that Bitmex.com is specialized in providing and is widely known for its services in that space.

Reviews 9.7
UI and UX 10/10
Payment Options Only BTC, No fiat currency transfer
Anonymity YES
Min Deposit 1 USD in BTC
Security Measure Bitcoin in cold multi-signature wallet & two-factor authentication
Leverage Offered Up to 100x

 

Pros

High volume & Liquidity

High Leverage up to 100x

Great User Interface and Experience

Great Customer Service

Extremely secured

Variety of Alt coins that can be tradable

Cons

Confined to US traders

No Fiat based currencies are accepted for deposits, only BTC!

Complicated fee structure

 

2. Plus500

plus500

Plus 500 is one of the best contract of difference (COD) trading company. Plus500.com offers CFD’s of major Cryptocurrencies out there with respect to Leverage trading. It is extremely secure and authorized. It has a great user interface and very easy to navigate. Users can margin trade with a maximum of 1:30 leverage.

Reviews 8.5
UI and UX 9/10
Payment Options Visa/MasterCard credit card, Moneybookers or through any wire transfer
Anonymity YES
Min Deposit 100 Pounds
Leverage Offered Up to 30x

 

Pros

Brilliant User Interface and Experience

Extremely easy to navigate and learn, useful for novice traders

Credible and has brand value

Cons

Less verity of Cryptocurrency pairs

You do not own your Crypto’s private keys

 

3. POLONIEX

Poloniex

Crypto traders are more inclined to Poloniex as it provides the maximum number of cryptocurrency trading pairs compared to any other exchange. It is one of the pioneers in cryptocurrency exchange space and got acquired by Circle in a $400 million deal. Poloniex doesn’t feature any fiat to cryptocurrency trading. It has an easy to understand user interface which makes trading simple, easy and straight forward. Great variety, high security, and high liquidity set Poloniex apart from other exchanges.

 

Reviews 8.3
UI and UX 8/10
Payment Options BTC & other supported cryptocurrencies, USDT
Anonymity YES
Security Measure 2-factor authentication
Leverage Offered Upto 2.5x

 

Pros

Simple and seamless interface

Variety of Cryptocurrency asset pairs

High liquidity

Lot of options for Margin/Leverage trading

Leverage trading of altcoins

Acquired by a Circle

Cons

No FIAT trading

Slower compared to other major exchanges

Poor customer support

No advanced order types

 

4. BITFINEX

BITFINEX

Bitfinex.com is a Hong Kong based exchange which started its operations in 2012. It became the world’s largest Bitcoin exchange and continued to hold its position in the top five exchanges. It got hacked in August 2016 and 70 Million USD worth of coins were stolen from many user wallets. However, Bitfinex was able to withstand the hack and recovered from it. It is quite user-friendly and the site offers trade markets for 11 major cryptocurrencies such as Dash, Monero and Ethereum. Bitfinex owns ETHfinex which is the corresponding exchange for ERC-20 based tokens. It offers users to borrow funds for large margin positions and offers marginal trading features with leverage up to 3.3x!

Reviews 7.7
UI and UX 7.5/10
Payment Options USD, BTC, ETH, ETC, XMR, LTC, DASH, ZEC
Anonymity YES but Photo ID required for deposits in Fiat Currency
Min Deposit 20 USD
Security Measure 99.5 % of client funds in cold storage, two-factor authentication & e-mail encryption
Leverage Offered Up to 3.3x

 

Pros

High volume

High liquidity

Variety base assets

Wide range of Cryptocurrency pairs

Unlimited withdrawal

Availability of in-house mobile app

Cons

Can trade on leverage only up to 3.3x

Blamed for price manipulations

Was hacked in 2016

 

5. Deribit

Deribit

Deribit is Amsterdam based exchange started as Bitcoin Futures and Options trading platform in 2016. It is currently the only platform that offers Bitcoin Option trading and the second biggest exchange that offers Bitcoin Perpetual Swap Contracts. Deribit keeps the majority of its assets on a cold wallet and 1% of the total reserves are kept on a hot wallet that makes immediate withdrawals possible. The UI of Deribit’s is a bit unorganized. On Deribit, leverage trading works a bit different. Your whole account is used as margin on this exchange. The only way you can isolate margin for now is specify the amount of contracts you wish to use and set the stop-loss on the account so that it gives you the risk and the leverage you desire. It is basically the same thing as BitMEX, but BitMEX is more organized and has a great UI. The minimum order size on Deribit is one contract which is $10, whereas minimum order size on BitMEX is one contract which is equivalent to $1.

Reviews 7
UI and UX 6/10
Payment Options BTC & Fiat currencies
Anonymity YES
Min Deposit 10 USD
Security Measure Amazon Web Services are protecting their data
Leverage Offered Up to 100x

 

Pros

Very secured

Never got hacked

Great leverage

Huge Volume

Cons

Poor UI

Relatively a new exchange

 

 

References and Further Reading

http://www.bitcointradingsites.net/broker/etoro-com/

https://www.forexfraud.com/forex-broker-reviews/plus500

http://www.bitcointradingsites.net/broker/poloniex-com/

http://www.bitcointradingsites.net/broker/bitfinex-com/

https://medium.com/@anastasialegita/bitmex-vs-deribit-8ccf21e6f987