By Johel Burgos
Posted on 11 September, 2020
Cryptocurrency trading has evolved significantly in the last three years, especially due to recent inclusion of these assets into more professional investment platforms. This means that traders around the world have access to more versatile tools to develop their investment strategies and increase their profits.
This article presents the three best platforms for trading cryptocurrencies in 2020.
Plus 500: Ready to invest in a cryptocurrency index?
Traditional brokers offer a safe and robust environment to invest in any financial asset, especially reputable ones like Plus 500. The online brokerage platform holds multiple licenses (eg CySEC, FCA, SFSA, ASIC) that allow you to trade from almost anywhere in the world.
The inclusion of cryptocurrencies in its offering led the broker to record profits in 2018 — according to MarketWatch — with the global broker continuing to offer the latest investment options for crypto assets.
The platform recently partnered with BITA, a German company based in Frankfurt that specialises in the provision of financial indices for high-performance. Thus, in addition to the traditional options for trading cryptocurrency CFDs, Plus 500 now allows traders to gain immediate exposure to the bulk of the market through the Crypto10 index (Crypto 10 Index).
Similar to traditional indexes, such as the FTSE 100, S&P 500 or the DOW, Crypto10 gives fairly comprehensive exposure to the top 10 cryptocurrencies on the market.
Although there are almost 7,000 cryptocurrencies in circulation, the top 10 rankings represent 83% of the total market capitalization, making it a representative group of the entire market.
BTC, ETH, LTC, NEO, XRP, OTA, EOS, BAB, ADA, TRX, XMR available
No need to open a crypto exchange account or use a special wallet
Fully regulated – FCA, ASIC, CySec
100€
Key Features
BTC, ETH, LTC, NEO, XRP, OTA, EOS, BAB, ADA, TRX, XMR available
No need to open a crypto exchange account or use a special wallet
Fully regulated – FCA, ASIC, CySec
Top Coins
- BTC
- ETH
- BCH
- EOS
- MIOTA
Payment Methods
Credit Card, PayPal, Skrill, Bank Transfer
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies.
80.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Binance: The platform with the most options for trading cryptocurrencies
Binance is the largest crypto exchange in the world and features specialised platforms for storing, buying and selling cryptocurrencies. Despite a significant drop in transaction volume, CoinMarketCap (the data repository now owned by Binance) is once again reporting a significant spike in transaction volume on the platform.
The effort made by the Malta-based company has seen this industry giant dominate many areas of the crypto industry. In addition to its trading platform, Binance has developed its own blockchain, its own cryptocurrency and has multiple decentralized technology research and development departments.
Binance is now tackling the derivatives market with margin futures contracts via USDT and other tokens. But the options don’t end there! To cover all the trading modalities offered by this platform in 2020, it is necessary to list the following features:
- Traditional trading of real cryptocurrencies. To meet different needs, the web version of Binance provides three interfaces with different options and tools, in addition to its mobile applications.
- Over-the-counter trading (OTC). Traders are able to negotiate directly with one another on price, with more than 60 payment methods to choose from.
- Crypto derivatives trading. For those who want to gain exposure by using tools such as leveraged positions. Binance has started offering futures contract trading for its top cryptocurrencies with a leverage factor of up to 125X. This has made the platform outperform leaders in this niche, such as BitMEX.
To add even more value to the above, Binance is one of the few exchanges offering staking for multiple cryptocurrencies, as well as returns for depositing funds in liquidity pools or “crypto loans”.
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
1€
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
- BTC
- DOGE
- TRX
- ZRX
- ARK
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
eToro: The best site for trading cryptocurrencies?
Technological innovations have not only brought cryptocurrencies with them, but have given way to new ways of investing, such as mining, robots or automatic trading tools or social trading.
If any platform knows this topic, it is eToro.
Undoubtedly, the broker has gained traction due to the multiple assets it offers. The multi-licensed, award-winning platform has gained traction as one of the best cryptocurrency trading sites due to the methods offered for investing; which are suitable for traders with varying levels of experience.
Social trading allows traders to copy the trades made by professional traders around the world. They can also track their operations and changes in the portfolio, which they can replicate partially or totally.
There are also CopyPortfolios, which take the figure of indices for those who want to gain combined exposure to various assets in a specific market. Currently, eToro’s CryptoPortfolio includes Bitcoin, Ethereum, Cardano, TRON and NEO as the main cryptocurrencies, while the other 38% is a compendium of the rest of cryptocurrencies.
But these are not the only benefits of eToro. With headquarters in London and Cyprus, eToro offers the choice to buy real cryptocurrencies to store in a wallet or to use CFDs to trade on price movements instead. This makes eToro a great option for trading cryptocurrencies.
Access the world’s most popular Crypto assets including Bitcoin, ETH, LTC, XRP
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
200€
Key Features
Access the world’s most popular Crypto assets including Bitcoin, ETH, LTC, XRP
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
Top Coins
- ADA
- BTC
- XLM
- XRP
- LTC
Payment Methods
Credit Card, Debit Card, Wire Transfer, PayPal, Skrill, Neteller, Yandex, WebMoney, MoneyGram
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
eToro is a multi-asset platform which offers CFD and non CFD products. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.