Best Crypto Exchange for Day Trading in 2024: How to Choose? (2024)

Are you looking for the best crypto exchange for day trading digital assets? You might have noticed that multiple options are available online for you to pick from – Binance, Coinbase, Bybit, KuCoin… and the list goes on.

However, you might be uncertain about what makes a platform great for day trading. Without any clue about their features and services, it can be hard to decide. Based on what, right? Crypto trading, in general, can be made easier by simply choosing the right platform, which also applies to day trading.

In this article, I'll share the top 7 best crypto exchanges for day trading. Whether you're a seasoned trader or just starting out, these platforms have something for everyone.

I will explore the following best crypto exchanges for day trading:

• Binance
• Coinbase
• Bybit
• Kraken
• KuCoin
• Bitfinex
• Huobi
• Bitstamp

So, without further ado, let's dive in!

What is Day Trading?

Day trading is a very popular strategy that involves buying and selling crypto within a short period of time to take advantage of price fluctuations.

Day traders need a good and reliable platform to read charts and analyze market trends. More than that, day trading requires a lot of time and effort. Thus, choosing a platform that could make certain processes easier would surely be useful.

Even though choosing the best crypto exchange for day trading can be tricky, don’t get too intimidated by the amount of information around it! Of course, there can be personal needs and preferences for selecting the best crypto day trading platform among many. However, we should distinguish at least some objective criteria, right?

Best Crypto Exchange for Day Trading: Evaluation Criteria

So, what turns a good exchange into the best crypto exchange for day trading?

Well, for starters, you probably want a platform that offers low trading fees. Since day traders make many trades, high fees can quickly eat into your profits. Thus, you should look for exchanges with low trading fees (or maybe even zero fees?).

Then, it's also important for the exchange to have a variety of trading pairs. Experienced day traders see more trading pairs as more opportunities to make profitable trades. Looking for exchanges that offer a wide range of currencies to trade is a good strategy if you want to get used to handling multiple assets.

Furthermore, let's not forget high security standards. You want to make sure your funds are safe on the exchange. Look for exchanges that use cold storage, two-factor authentication, and other security measures to protect your assets.

Lastly, it's also important for an exchange to have fast order execution. You surely don't want to miss out on a trading opportunity because your order took too long to execute. To get fast order execution, you should look for exchanges with high liquidity and fast order-matching engines.

So, there you have it, the main criteria you should consider when finding the best crypto exchange for day trading. Now that we've established that, let's move on to the list itself.

Binance is one of the most popular platforms among the best crypto exchanges for day trading that offers over 500 cryptocurrencies and availability in more than 180 countries.

It has low fees, low latency, high liquidity, and a user-friendly interface, making it a great choice for day traders. And there's more! The platform offers advanced trading features, such as stop-loss orders, which can be very useful for day trading.

Is stop-loss order availability important to consider when picking the best crypto platform for day trading? Actually, it is!

See, stop-loss orders are made in advance, and they make the platform sell your assets as soon as they reach a specific price. This removes the need (and the pressure) of constantly monitoring graphs and numbers. It literally stops you from losing value on trades.

Stop-loss orders are extremely popular among day traders. Without them, we could even ask, “is day trading crypto worth it?”. A demand for checking all your assets' prices constantly wouldn’t allow time for pauses or rest, right?

On top of that, Binance has one of the highest trading volumes, making it an excellent choice for day trading.

For added security, it also offers 2FA (2-factor authentication), which works like an extra layer of protection. It is used to enhance the security of online accounts with more than just the "username + password" system.

Moreover, as mentioned before, Binance has a huge variety of assets to choose from. However, while having a wide selection of assets can be a good thing, it can also be overwhelming for day traders who are just starting out. Since there are so many, not all of the cryptocurrencies on Binance may be suitable for day trading, as some may be illiquid or highly volatile.

Though, don't worry, to guide their users through it, Binance offers a wide range of educational resources and tools to help traders make informed decisions. Those resources include market data and analysis, real-time price updates, customizable charts and graphs, and so on.

Furthermore, liquidity and order execution speed also count towards Binance when deciding on the list of contenders for the best crypto day trading platform. Its matching engine results in trades completing almost instantaneously, meaning you can make the most out of short windows of opportunity in the market.

Additionally, Binance also offers margin trading and futures contract features. These features allow users to take advantage of price fluctuations with leverage!

Overall, Binance has many more features to offer. Also, it is constantly innovating and adding new ones to improve the trading experience for its users, making it one of the most popular exchanges among day traders.

Coinbase is a strong contender for the best crypto exchange for day trading title, offering great features for day traders. The platform was designed specifically with security in mind. For instance, all customer funds are stored offline in cold storage wallets, meaning they're not vulnerable to hackers or fraudsters online.

By the way, if you want to keep your own funds in a cold sotrage wallet, I suggest checking out Ledger Nano X – one of the most secure hardware wallets.

Getting back to Coinbase, it also employs advanced security protocols such as 2FA, email verification, and insurance protectionto help protect user accounts even further.

Now, of course, when picking the right platform for day trading, it's important to find one that offers the best day trading platform crypto tools.

Coinbase, for example, offers a feature called Advanced Trade. It's a section of the platform that offers advanced charting and trading tools. Besides, the Advanced Trade feature has more options regarding limit orders and trailing stops, which can be really useful for day traders.

Now, while Coinbase fees may be a bit higher comparing it to some other exchanges, it is partially offset by its enhanced security and fast order execution times. Besides, it offers a variety of payment methods including debit / credit card purchases and direct bank transfers that make it convenient for day traders around the world.

Another feature that puts Coinbase among the best crypto exchanges for day trading is its commitment to compliance and regulation. Coinbase is fully licensed and regulated in multiple jurisdictions, including the United States, Europe, and Asia. It works closely with regulators to ensure that it is fully compliant with all applicable laws.

For this and other reasons, Coinbase is seen as a safe and reliable choice for day traders who want to trade with more confidence.

Additionally, note that using Coinbase for crypto day trading is worth it even more with its user-friendly mobile app. The app is available for both iOS and Android devices, and it offers all of the features and functionality of the desktop platform, including real-time price updates, charting tools, and order management.

What is especially useful, though, is that Coinbase app allows notification alerts. Thus, users can set price notifications, which can be very useful for day traders who need to stay on top of market movements throughout the day. With its intuitive interface and powerful features, the Coinbase mobile app is a great tool for day traders who want to stay connected to the market on the go.

To sum up, Coinbase is a top choice for day traders looking for a secure, fast, and user-friendly platform with a wide selection of popular cryptocurrencies.

Bybit is one of the top players when it comes to trading cryptocurrency. It can surely be considered one of the best crypto exchanges for day trading, particularly due to its wide range of order types.

It features A LOT of order types, including limit orders, market orders, stop limit orders, and trailing stop orders. These give day traders more options for managing their positions than they would have on other exchanges, which only offer basic order types.

In addition to that, Bybit provides low fees across all markets, as well as high liquidity levels, which make trade execution quick and efficient at a minimal cost.

Moreover, if you are looking for options beyond just basic buy/sell orders when taking positions on crypto market prices, Bybit is a great choice for you. It is one of the biggest derivatives exchnagesdesigned for experienced day traders who want to trade with leverage using future contracts.

Don't know what future contracts are? In essence, futures contracts are agreements to buy or sell an asset at a specific price and date in the future.

For example, let's say you want to buy Bitcoin at a specific price in the future. You can enter into a futures contract with someone who wants to sell Bitcoin at that same price. The contract specifies the price, quantity, and expiration date.

One key feature of futures contracts is that they allow traders to speculate on the price of an asset without actually owning it. This means traders can profit from both rising and falling prices.

Now that this is cleared, let’s see how this Bybit feature works, setting it apart from other exchanges with the best day trading platform crypto features.

Bybit focuses on offering perpetual futures contracts. Those perpetual contracts are similar to traditional futures contracts, but they do not have an expiry date. This means that traders can hold their positions indefinitely, allowing for greater flexibility and the ability to trade with longer-term strategies.

On that note, keep in mind that Bybit offers leverage of up to 100x on its perpetual contracts, giving traders the opportunity to amplify their gains significantly.

Bybit also provides advanced traders with a high level of customization. Users may, for instance, set up conditional orders, which cause trades based on changes in price or other factors.

Moreover, the platform provides access to a range of technical analysis tools, which can be used to identify trading opportunities and make more informed decisions.

Now, even though Bybit has an extensive range of features, it also has a user-friendly interface. Thus, it's a great choice for day traders who want tolearn through an advanced trading experience, and certainly one of the best crypto exchanges for day trading overall.

Kraken is surely worth being on this best crypto exchanges for day trading list. Not only does it offer access to a number of different coins, but its advanced order types make it an ideal platform for both beginners and experienced traders.

It offers some of the most competitive prices and trading tools on the market, which made it rise to this position on our list of the best crypto day trading platforms.

Overall, Kraken's biggest selling point lies in affordability – its charges start at an amazing 0% when opening new positions (placing orders). This makes it ideal for day traders who want to open multiple positions quickly without facing high costs along the way.

Also, note that trades are executed rapidly due to Kraken's technology, meaning that even large trades can be completed swiftly. This greatly reduces risk when it comes to sudden changes in market prices, which could be a problem if trades were delayed.

Another attractive feature of Kraken for day traders is its high liquidity, which ensures that orders are executed quickly and with minimal slippage.

But why does that matter? Well, slippage is the difference between an expected trading price and the actual price at which the trade is executed. And, let's be honest, no one likes surprises when it comes to paying for something. So, naturally, you want to have very minimal slippage when day trading.

Moving further, note that, even though Kraken offers a user-friendly platform, it still has advanced charting tools and indicators, making it easier for traders to analyze market trends. To be considered the best crypto exchange for day trading, features like easy-to-nagivate interface are surely of extreme importance.

Kraken also offers a margin trading feature with up to 5x leverage. If those words sound like another language, let me explain!

Essentially, margin trading is when a trader borrows funds from lenders inside the platform to invest more than their own funds allow them. Meanwhile, leverage is the increased “trading power” that is available when using a margin account. It is written as a ratio between the amount of assets you actually have and the amount of asset you can trade.

Now, it should also be noted that Kraken has a great reputation when it comes to customer support. It has a team of knowledgeable professionals, which is fully available to assist traders with any issues or questions they may have.

This is especially important for day traders who need to be able to act quickly and efficiently in response to market changes.

Overall, Kraken is an excellent choice for day traders who value low fees, high liquidity, one of the best day trading platform crypto tools, and top-notch security. Besides, its margin trading feature and high leverage make it especially attractive to traders who want to maximize their returns.

KuCoin is one of the leading exchanges that provides access to many markets. This, along with other useful features, secures a spot for KuCoin in our best crypto exchange for day trading list.

The multiple-market system allows day traders to explore multiple ecosystems with few clicks. Day traders can take advantage of price differences between different tokens, or even between different pairs within the same token group (e.g., ETH/BTC).

This gives users more options when deciding what kind of trades they want to execute. Whether they’re looking for short-term gains through buying during dips, or using longer-term strategies.

Moreover, KuCoin allows direct token conversions, giving portfolio managers more flexibility. This means that the platform doesn’t require users to convert their holdings into BTC or ETH, and then reconvert them after each transaction.

Apart from that, KuCoin boasts a very competitive fee structure making it a go-to for those wanting quick profits from small capital investments. They range from 0.005% to 0.1%, depending on your tier level. Thus, KuCoin is surely a worthy option when thinking about the best crypto platform for day trading.

Another advantage of using KuCoin for day trading is its user-friendly interface. The platform is intuitive and easy to navigate, making it easy for users to quickly find the information they need and execute trades with just a few clicks.

This is particularly important for day traders, who need to be able to react quickly to market movements in order to take advantage of opportunities as they arise.

In addition to its user-friendly interface, KuCoin also offers a range of advanced trading features that are designed to help users maximize their profits. These include tools for technical analysis, such as candlestick charts and price alerts, as well as options for setting stop-loss and take-profit orders.

For day traders, such features surely are valuable, since they rely on technical analysis and precise order execution. Thus, look out for those when deciding on the best crypto exchange for day trading.

Finally, KuCoin is known for its strong, if not one of the best, day trading platform crypto security measures. The platform uses a variety of measures to protect user funds and data, including two-factor authentication, anti-phishing codes, and cold storage for the majority of users' assets.

This means that users can trade on the platform with confidence, knowing that their assets are safe.

That being said, KuCoin is an excellent choice for day traders who are looking for a flexible user-friendly platform that offers a range of advanced trading features and competitive fees. With its large selection of trading tools, KuCoin surely provides traders with all they need to take advantage of market inefficiencies and generate quick profits.

Bitstamp is an exchange that provides a simple and secure platform for day traders. One of the main advantages of Bitstamp is its competitive fee structure. This makes it impossible to ignore when considering a list of contenders for the best crypto exchange for day trading.

In addition to that, Bitstamp enables trades of USD, EUR, and GBP, as well as deposits and withdrawals via PAX and USD Coin. These features, along with multiple cryptocurrencies on the platform, add up to the variety of trading pairs and a user-friendly interface, making it a force to be reckoned with.

Another noteworthy aspect of Bitstamp is its commitment to regulatory compliance. It is one of the few crypto exchanges that are fully licensed and regulated. This gives day traders greater peace of mind when it comes to the security and integrity of their trades. Besides that, it's important to note that the regulations are applied around both – fiat and crypto.

Moreover, Bitstamp is partnered with major financial institutions such as Swissquote and Bank Frick, allowing for easy fiat-to-crypto transactions and improved liquidity. This not only opens up more opportunities for day traders, but also adds to Bitstamp's overall credibility as a reliable exchange.

Lastly, note that Bitstamp’s customer support team responds quickly via various channels, including social media platforms like Twitter & Telegram. So, if you face any problems with your day trades, you won't be left hanging.

To sum up, Bitstamp earned a spot on this best crypto for day trading platform list thanks to its versatility and a reasonable fee structure. In addition, it has a reputation for being a reliable tool for people who value transparency and regulatory compliance.

Huobi is another popular crypto exchnage that is worth your attention if you're searching for the best crypto exchange for day trading. Why? For many reasons! It has a huge variety of supported crypto assets, low trading fees, and it's really easy to use.

Talking about crypto asset variety, as of writing, Huobi offers more than 700 cryptocurrencies that you can buy, sell, and trade. That's insane! This includes both – the most popular crypto assets and some less-known crypto coins. You'll definitely find many assets that are great for day trading on Huobi.

Another great thing about Huobi is its low trading fees. In fact, it offers some of the best prices on the market. It has a tiered fee model where the fees depend on the amount of Huobi tokens (HT) you own. The maximum fee is 0.2%, and it just goes lower with every tier.

Besides that, for professional traders, there is a maker-taker-based fee structure. Here, fees are based on your trading volume, as well as HT holdings. For makers, fees go as low as 0.0097%, while for takers, they go as low as 0.0193%.

Now, we have a huge variety of assets and super-low trading fees. Why else is Huobi one of the best crypto exchanges for day trading? Because it employs strong and efficient security measures. For one, it insures all users' funds with the Huobi User Protection Fund. So, if anything goes south, you will be compensated for any losses.

Besides that, around 98% of funds on Huobi are stored in cold storage. This basically means that there are not many chances of your funds being stolen by hackers. Why? Because cold storage devices are physical devices that are not connected to the internet. So, to steal your funds, a hacker would have to steal the device itself.

Additionally, Huobi provides traders with live customer support that works 24/7. Thus, if you run into any problems while day trading, you'll quickly get a response. This is quiet an important thing for day traders because, as the saying goes, time is money.

All in all, Huobi definitely deserves a spot on this best crypto exchange for day trading list. It has very low fees, a huge collection of cryptocurrencies, strong security, and live customer support.

Bitfinex is one of the oldest exchanges out there, having opened its doors back in 2012. It is no surprise that it's still on top of its game among the best crypto exchanges for day trading. Many traders would surely refer to Bitfinex when asked what platform makes day trading crypto worth it.

In addition to lower fees in comparison to the majority of exchanges, Bitfinex also provides users with leverage of up to 10x. Leverage traders can potentially get bigger rewards than those taking smaller positions in regular buy/sell transactions alone.

This makes it a great option on the market for day traders who want maximum returns from their investments. Overall, Bitfinex stands out as a great choice whether dealing with short-term intraday trades or mid- to long-term holds.

The exchange also supports fiat deposits, although these do incur higher transaction costs than depositing via crypto assets. Even so, they still remain competitive compared to other providers.

Moreover, Bitfinex is also known for having an efficient customer support team, helping resolve any issues quickly and efficiently. This helps to minimize any negative impacts caused by unexpected technical scenarios.

Another great feature of Bitfinex is its high trading volumes, making it one of the most liquid exchanges in the cryptocurrency space. This is particularly important for day traders who need to be able to buy and sell assets quickly, without worrying about liquidity issues.

With Bitfinex's high trading volumes, traders can easily enter and exit positions at market prices without heavily affecting the asset's price.

Keep in mind that high liquidity often points to an “anti-whale” ecosystem, meaning that a single trader cannot dictate an asset value by themselves. Analyzing a currency’s liquidity is crucial for healthy day trading.

Furthermore, Bitfinex also offers a range of trading tools and advanced order types, including limit orders, stop-loss orders, and trailing stop orders. Day traders who need more flexibility when managing their positions can find great use of these tools.

So, overall, Bitfinex surely is one of the exchanges that make crypto day trading worth it!

Final Thoughts

Ultimately, the very best crypto exchange for day trading depends on what features are most important to you and what type of trader you are (or want to be!). Choosing the right crypto exchange specifically for your needs in day trading (or other types of trading, for that matter) is crucial for maximizing your profits.

Though, to pick one as 'the best exchange for day trading,' you must take into consideration a variety of factors. For one, it's especially important to know the trading fees charged by the exchange. For sure, you must pick one that fits your budget.

Besides that, other factors such as a variety of trading pairs offered, order execution time, and, of course, security measures, are all crucial to consider as well. Based on the aforementioned criteria, exchanges like Binance, Bybit, Coinbase, and other platforms discussed in this article, are all great options for day traders.

Additionally, to keep all your gained profits secure, make sure to use a reliable crypto wallet. Check out this list of the best crypto wallets to find one that is most suitable for you!

All in all, I hope this article helped you get the hang of the concept of day trading, as well as decide which platform works best for you. Good luck with day trading!

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