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There are over a thousand cryptocurrency exchanges providing leverage trading services. Choosing a suitable cryptocurrency trading platform is important, and as such, we’d like to share a few tips on doing so.
Several factors should be considered: how long an exchange has been running, whether it has a proper trading platform, whether it supports mobile devices, and more. Customer reviews, customer support, and fees charges are equally important.
A well-established exchange doesn’t necessarily equal a good exchange, although a trustworthy platform is unlikely a newly established one. A long-established exchange tends to have a mature fee structure, a reliable trading engine, and an experienced customer support team.
Experienced crypto traders know how frustrating it can be dealing with a poor trading engine that crashes all the time.
Complete trading interface
It’s crucial to find an exchange with a complete trading interface. It’s important to choose one providing different trading indicators and allowing traders to analyze charts as they see fit. The user interface should be so simple users quickly understand how to do everything.
Exchanges offering a simulated trading environment may be a good fit. A simulated trading engine can serve as a sandbox for you to try out different strategies without worrying about losing money. It lets you figure out the ins and outs of crypto market movements so you will be more prepared for real-time trading.
This function is handy to beginners who, according to the Bexplus Exchange, can lose several trades without figuring out what went wrong. Not every exchange offers a demo account. On Bybit, for example, you need to apply for one by contacting customer service. If you are a beginner, know Bexplus offers each user a demo account with 10 replenishable BTC.
Mobile device support
About half of all cryptocurrency exchanges out there do not offer mobile device support. We believe this is a must-have function, as not being able to trade on the go can see traders miss out on potential gains. While technical analysis is easier on a desktop device, accessing your exchange on a mobile device lets you monitor the market at any time and trade accordingly.
When choosing a trading platform, find one that works on desktops and mobile devices, hopefully through applications available on Apple’s app store or Google Play.
If you are a day trader, the fee schedule is an important factor to consider when choosing a trading platform. For example, the average fee for most trading platforms in the market hovers around 0.1%-0.2%. Some platforms even transaction fees as high as 8%. Trading on platforms with unreasonable fees could eat away your gains.
We all want to avoid contacting customer support as much as possible, but we all hope it’s readily available when we need it. Live chat is preferable because you can chat with a customer support agent to fix your problem before the market moves.
Some platforms, however, only offer email customer support. These can take hours or even days to get back to their users.
If you find an exchange that seems to be the right fit for you, don’t forget to do some research about it on Google to see what other users are saying. Reviews on Trustpilot, app stores, and more can help you understand how others feel about the platform.
Often one bad review does not reflect the quality of an exchange. On the other hand, overwhelmingly bad reviews may mean you should stay away from the platform.
Most small crypto trading platforms aren’t regulated, which means they may not be safe. Regulatory compliance is important as the cryptocurrency space matures, so much so platforms like Huobi, Binance, and Kraken are registered as Money Services Businesses (MSBs).
Receiving an MSB license is standard for global digital currency trading platforms. Exchanges like Coinbase, Bitfinex, Huobi, Binance, Bexplus, and others are registered as MSBs.
Bexplus - Recommended Crypto Exchange
Established in 2017, Bexplus is a leading crypto derivatives exchange offering 100x leverage futures trading on various trading pairs - BTC, ETH, LTC, EOS and others. The company is registered in Saint Vincent and the Grenadines. It has no spread, no KYC requirements, no deposit fees, Bexplus is trusted by clients worldwide, including the USA, Japan, Iran, and Korea.
Intuitive UI and Various Trading Tools at Your Disposal
Bexplus is famous for its user-friendly interface with powerful tools. You can use the tools on the left side of the chart to analyze market trends and place the long or short orders on the right side of the interface. Bexplus offers a P/L calculator for you to calculate potential profits and fees before entering a trade.
Another golden feature of Bexplus is the Bexplus wallet offering up to 21% annualized interest. With fast withdrawals and no penalties for early withdrawals, you can continue to grow your wealth while just holding bitcoin.
Personal Account Manager and 24/7 Customer Service
Each user can access a personal account manager after registration. Account managers help users better understand how the platform works and share strategies on crypto trading. Customer support agents handle complaints and questions 24/7 via email and live chat.
Simple Fee Structure
Bexplus charges no deposit fees and has a relatively low service fee compared to many other platforms. For instance, while some platforms charge a funding fee every 8 hours, Bexplus only charges an overnight fee of 0.1% of the contract value if you hold a position over 00:00 GMT. Bexplus’ charges a 0.075% fee for opening and closing BTC positions.
Bexplus’ mobile app ranks in the Top 5 of search results related to bitcoin trading in 56 countries in App Annie. This full-featured app provides you with the same powerful tools you’ll have when on your desktop.
The Bexplus mobile app can send you market notifications to keep you updated on any significant market movement. You can access your account on every type of device: iPhones, tablets, Android phones, Macbooks, and Windows PCs.
The Bexplus app is favored by most users with a rating of 4.8 on Google Play as well as the Apple Store.
Benefits and Giveaway
Every user can claim a 100% deposit bonus of up to 10 BTC for each deposit. If you deposit 1 BTC, 2 BTC will be credited to your account, and the profits gained with the bonus are withdrawable.
Bonuses can be used to boost your margin and reduce the risk of forced liquidation. Traders are welcome to join the affiliate program and earn up to 50% commission for invite other traders. Bexplus will provide different marketing materials to help you grow your business!
The most significant advantages of using Bexplus are its concise interface and the beginner-friendly demo account. Bexplus offers tools to control your risk and achieve high profit margins even if you are using 100x leverage.
No KYC verification keeps Bexpus a safe platform, while some other exchanges have a record of leaking users’ personal data. Its interest-bearing wallet service helps Bexplus stand out from all crypto futures exchanges.
Bexplus now has a 100% deposit bonus campaign.