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
- PLUS 500
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.
|UI and UX||10/10|
|Payment Options||Only BTC, No fiat currency transfer|
|Min Deposit||1 USD in BTC|
|Security Measure||Bitcoin in cold multi-signature wallet & two-factor authentication|
|Leverage Offered||Up to 100x|
High volume & Liquidity
High Leverage up to 100x
Great User Interface and Experience
Great Customer Service
Variety of Alt coins that can be tradable
Confined to US traders
No Fiat based currencies are accepted for deposits, only BTC!
Complicated fee structure
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.
|UI and UX||9/10|
|Payment Options||Visa/MasterCard credit card, Moneybookers or through any wire transfer|
|Min Deposit||100 Pounds|
|Leverage Offered||Up to 30x|
Brilliant User Interface and Experience
Extremely easy to navigate and learn, useful for novice traders
Credible and has brand value
Less verity of Cryptocurrency pairs
You do not own your Crypto’s private keys
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.
|UI and UX||8/10|
|Payment Options||BTC & other supported cryptocurrencies, USDT|
|Security Measure||2-factor authentication|
|Leverage Offered||Upto 2.5x|
Simple and seamless interface
Variety of Cryptocurrency asset pairs
Lot of options for Margin/Leverage trading
Leverage trading of altcoins
Acquired by a Circle
No FIAT trading
Slower compared to other major exchanges
Poor customer support
No advanced order types
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!
|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|
Variety base assets
Wide range of Cryptocurrency pairs
Availability of in-house mobile app
Can trade on leverage only up to 3.3x
Blamed for price manipulations
Was hacked in 2016
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.
|UI and UX||6/10|
|Payment Options||BTC & Fiat currencies|
|Min Deposit||10 USD|
|Security Measure||Amazon Web Services are protecting their data|
|Leverage Offered||Up to 100x|
Never got hacked
Relatively a new exchange
References and Further Reading