If you are looking for the best crypto exchanges for day trading, we’ve done the research for you. Crypto day trading is where you buy and sell cryptocurrencies within the same day, hoping to profit from small price movements. This guide will explore where to day trade crypto and help you choose the right platform & app.
Key Takeaways:
- The best platforms for crypto day trading are MEXC, Bybit, Coinbase, Binance, and PrimeXBT for their high liquidity and multiple supported coins.
- Day trading crypto can be worth it if you have the right skills, strategies, and risk management, but it is also very challenging and risky.
- The best crypto for day trading are Bitcoin, Ethereum, Solana, Cardano, Avalanche, and more coins with high trading volume and volatility.
Best Crypto Exchanges for Day Trading (Compared)
| Exchanges | Trading Pairs | Fees | Trading Volume |
|---|---|---|---|
| MEXC | 2100+ | 0% | High |
| Bybit | 930+ | 0.1% | Very High |
| Coinbase | 240+ | 0.4%-0.6% | Very High |
| Binance | 350+ | 0.1% | Very High |
| PrimeXBT | 20+ | 0.05% | Average |
| OKX | 320+ | 0.08%-0.1% | High |
| GMX | 7+ | 0.1% | Low |
| Gate.io | 1700+ | 0.2% | High |
1. MEXC – Overall best crypto day trading platform
- CMC Liquidity Score: 506
- Fees: Zero fees for spot market and only 0.02% taker fee for futures
- Available Countries: Available in more than 170 nations but not for the United States and Canadian users.
MEXC is the cheapest place to day trade crypto due to its zero spot fees and 0% maker and 0.02% taker futures fees. It is a centralized crypto exchange, started in 2018, and is based in Seychelles. It is also a popular no-KYC crypto exchange. It offers quick and safe trading for 2100+ digital assets in different categories like DeFi, GameFi, AI, and Metaverse.
MEXC supports futures trading of USDT-M and Coin-M contracts with leverage up to 200x. Day traders can engage in perpetual and quarterly contracts for various coins. Advanced order types like stop-loss and limit-order and other risk prevention mechanisms are also available. It also supports crypto copy trading. MEXC also supports API integration with third-party platforms, such as Cryptohopper, 3Commas, etc. You can easily automate your crypto day trading strategies with these apps in the spot and futures market. You can read our full MEXC review for more information.
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2. Bybit – Best crypto exchanges for day trading in Australia
- CMC Liquidity Score: 643
- Trading Fees: 0.1% for both maker and taker orders in spot trading and 0.02% for maker and 0.055% for taker futures fees. Also, 0.02% for options trading.
- Available Countries: 160+ countries but restricted to the United States, the United Kingdom, mainland China, Singapore, and Canada.
Bybit is another top crypto platform for day traders with high leverage and advanced trading features. It is also one of the top futures crypto exchanges. It supports multiple trading products, including perpetual contracts, inverse perpetual, futures with quarterly expiry times, and options. It offers up to 100x leverage for perpetual contracts and futures and up to 10x for margin trading.
Bybit’s trading system is super fast and can do up to 100,000 transactions every second. It also has a dual-price mechanism. This helps crypto traders from market manipulation and liquidation. The platform has a strong security system that protects user assets and data. It stores the majority of cryptocurrencies in cold storage, which are offline and inaccessible to hackers.
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3. Coinbase – Best exchange for crypto day trading in the US
- CMC Liquidity Score: 715
- Platform Fees: 0.4% maker and 0.6% taker and up to $25 fees for deposits and withdrawals depending on payment methods
- Available Countries: Available in more than 100 countries including the US and Canada
Coinbase is a US-based crypto exchange for day traders. It is also regulated and compliant with various jurisdictions, making it a safe and legal choice for day trading cryptocurrency. It has different products and services for various users, such as Coinbase Pro, Coinbase Wallet, and Coinbase Prime. It lets users buy and sell over 240 cryptocurrencies with fiat currency. You can also keep your crypto in Coinbase’s cold storage, which is very safe and insured.
Coinbase Pro is a more advanced day trading platform that has lower fees, more trading pairs, and more analytical tools. It also supports limit orders and stop-limit orders, which can help control risk in unstable markets. The platform has the best charting interface that shows live order books, trade history, and market depth across hundreds of markets.
4. Binance: Best crypto exchange for day traders with high volume
- CMC Liquidity Score: 839
- Trading Fees: 0.1% maker/taker for spot trading and 0.02%/0.05% maker-taker in future trading (up to 25% discount for BNB holders)
- Available Countries: Binance is available in 100+ countries and has a separate platform “Binance.US” for the United States traders
Binance is best for day trading due to its high volume of over 10 billion per day. It has more than 350 coins to trade, like Bitcoin, Ethereum, Binance Coin, and more. The platform has low fees, a fast trading engine, and lots of liquidity in the market. Binance can handle up to 1.4 million orders per second. This means you can trade without any price slippage and instant order matching. It also has many features for crypto day traders, like margin trading, futures, options, and leveraged tokens.
The platform is highly secure with multiple safety methods such as 2FA, anti-phishing codes, withdrawal address whitelisting, and cold wallet storage. Binance is also a top-rated exchange for crypto day trading due to its user-friendly interface with advanced charting tools linked with the TradingView platform.
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5. PrimeXBT: User-friendly crypto day trading platform
- Fees: Charges 0.05% maker-taker for spot traders and up to 0.02% for futures traders.
- Available Countries: Available globally (excluding countries list)
PrimeXBT is a day trading platform for various assets, such as cryptocurrencies, forex, commodities, and indices. The platform has over 50 technical indicators and many charting and analysis tools, powered by TradingView. You can trade and manage orders from charts, and use different order types to execute your investing strategies. The platform also has fast and secure order execution and risk management.
PrimeXBT offers high leverage of up to 1:200 for some crypto assets, which means traders can increase their exposure and potential profits (but also risks). Another feature that PrimeXBT has for day trading is PrimeXBT Turbo, a feature for short-term trading. PrimeXBT Turbo lets users predict the price movement of an asset over a fixed time interval, from 30 seconds to 5 minutes. Users can choose from different options like “Up” or “Down”, and place bets on the price direction. If they are right, they can earn up to 90% profit in minutes.
6. OKX: Best exchange for day trading altcoins
- CMC Liquidity Score: 653
- Fees: 0.08% maker and 0.1% taker, up to 0.3% options trading fees
- Available Countries: Over 100 countries
OKX is one of the best altcoin crypto exchanges for day trading. It offers a smorgasbord of crypto trading tools to cater to your day trading strategies. Spot trading lets you buy and sell cryptocurrencies directly, while margin trading amplifies your potential returns (and risks) by leveraging borrowed funds. Futures contracts and perpetual swaps allow you to bet on price movements without actually holding the underlying asset, offering greater flexibility and shorting opportunities.
OKX equips you with a sophisticated trading interface packed with technical indicators, advanced charting tools, and order types. From setting stop-loss and take-profit orders to automating strategies with trading bots, you have the tools to react quickly and capitalize on market opportunities. It also prioritizes user safety with multi-layered security measures like two-factor authentication, cold storage for a majority of user funds, and a bug bounty program. For more information, check our full OKX review.
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7. GMX: Best decentralized exchange for day traders
- Trading Fees: 0.10% fee for long and short positions
- Available Countries: Globally
GMX is a decentralized perpetual exchange for day trading that offers derivatives contracts without expiry dates. Unlike centralized exchanges (CEXes), GMX operates without intermediaries. All trades are facilitated by smart contracts, eliminating the risk of foul play or manipulation.
GMX lets traders trade perpetual swaps of top cryptocurrencies with up to 50x leverage from their wallet on Arbitrum and Avalanche. It has a simple and user-friendly interface that lets traders open positions through a simple swap interface. Traders can easily swap from any supported asset into the position of their choice. GMX also has a dashboard that shows the user’s balance, positions, orders, and trades.
8. Gate.io: Best Bitcoin day trading platform
- CMC Liquidity Score: 534
- Trading Fees: 0.2% maker and taker fees
- Available Countries: Over 184 countries
Gate.io is a cryptocurrency exchange with many features and services, low and competitive fees, high volume, fast speed, and smart tools. It is a great choice for crypto day traders who want to trade many low-cap coins and tokens, use leverage, and get more benefits and discounts with GT.
The platform also has trading bots, indicators, charts, and signals to help you trade better. You can trade spot, margin trading, futures, and more. You can also invest, lend, farm, buy NFTs, and copy trade. Gate.io is safe and trustworthy. It uses cold storage, SSL, 2FA, and anti-DDoS to protect your funds. It also has insurance funds to cover any losses from system or hacking. The exchange is best for both beginners and advanced traders.
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What is Crypto Day Trading?
Crypto day trading is a short-term trading strategy in the cryptocurrency market where traders aim to capitalize on small price movements within a single day. The goal is to take advantage of short-term price fluctuations and make profits from the volatility of the market trends.
Crypto day traders often rely on technical analysis and chart patterns to make trading decisions. They use technical indicators, such as moving averages, Relative Strength Index (RSI), and MACD to identify potential entry and exit points. Crypto day trading is a high-risk venture, as the cryptocurrency market is very volatile and liquid. The traders need to have a good understanding of the market, the technology, and the risk management tools.
Which Crypto is Best for Day Trading?
Bitcoin (BTC) is generally considered the best coin for day trading, but there is no single best crypto to trade daily as the ideal choice depends heavily on your trading style, risk tolerance, and market conditions.
So, how to pick crypto for day trading? Generally, day trading thrives on price movement, so look for coins with higher volatility. Popular volatile choices include Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA). Also, ensure the coin you pick has sufficient trading volume and tight spreads to facilitate quick entry and exit without affecting the price significantly.
How to Choose a Best Crypto Exchange for Day Traders (Methodology)
Here are some features to look for in a crypto day trading platform:
- Low fees: You will make many trades in a day, so you want to pay less for each one. Find platforms that have low trading charges, or give you discounts if you use their tokens or hold some of them.
- High liquidity: High liquidity means that your orders will be done fast and with little slippage (the gap between the expected and actual price). Find platforms that have high trading volume and many users.
- Automated trading tools: Choose platforms that have different order types, like limit, market, stop-loss, and take-profit orders. Some platforms also let you use trading bots, which are programs that can trade for you based on rules and indicators.
- Available Cryptocurrencies: The more cryptocurrencies a platform has, the more chances you have to find good day trades. Find platforms that have many coins and tokens, especially those that are popular, trending, or have high potential. You may also want to consider platforms that have derivatives trading, like futures and options, which can let you trade with leverage and reduce your risk.
- Security and reliability: Pick platforms that have a good reputation, follow best practices, and have strong security measures, like encryption, cold storage, and two-factor authentication. You may also want to check the platform’s uptime, customer support, and regulatory compliance.
Conclusion
Choosing the best crypto exchanges for day trade is important, and several crypto day trading platforms will stand out for their unique features and offerings. For crypto day traders seeking the most cost-effective option, the MEXC exchange stands out as the go-to choice for low fees and high liquidity. Meanwhile, Bybit offers a comprehensive user interface catering to both beginners and experienced traders.
Each of the above-listed exchanges has its pros and cons and you can start crypto day trading on the platform that suits your crypto trading needs. Remember, day trading profits are not guaranteed, and you can lose your entire investment. Therefore, Before jumping in, educate yourself on technical analysis, risk management, and trading psychology. Practice on demo accounts and develop a solid trading strategy before risking real money.
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FAQs
Is day trading crypto worth it?
Yes, day trading cryptocurrency can be profitable if you know the market well, have a good trading plan, and manage your risk. But it can also be hard, stressful, and unprofitable if you don’t have the right skills, knowledge, and discipline.
Can you day trade on Coinbase?
Yes, you can day trade on Coinbase, one of the most trusted and popular crypto platforms in the world. It has a simple trading interface, many crypto options, and competitive trading costs. You can also use Coinbase Pro, a more advanced platform with more features, tools, and liquidity for traders.
What is the best app for day trading crypto?
MEXC is the best app for day trading crypto because it has low trading fees, making frequent trades more cost-effective. It also offers a wide range of order types, including trailing stops, stop-loss orders, and take-profit orders. This flexibility allows you to execute complex day trades with precision.
Where to day trade crypto?
You can day trade crypto on any platform that lets you buy and sell crypto assets on the same day. Some of the best places to day trade crypto are:
- Centralized Exchanges: MEXC, Bybit, Coinbase, Binance, PrimeXBT, etc.
- Decentralized Exchanges: dYdX, GMX, Gains Network, etc.
How much to start day trading crypto?
You should start small and scale up gradually. Most experts recommend starting with 1-2% of your investable capital. Some suggest a minimum of $100 to $200, but the key is to manage risk and only trade with funds you can afford to risk in the volatile crypto market.
