Leveraging crypto trades is a simple yet extremely effective way to increase potential profits while also being the most efficient way of using capital in crypto markets.
There are great platforms to trade crypto on margin, and there are some not so great platforms.
We’re breaking down the state of the crypto margin trading market and finding the platforms that should be avoided and those that are the top of the pack in 2020.
Where are the Best and Worst Places to Margin Trade Crypto?
Best
PrimeXBT
PrimeXBT the largest multi-asset margin trading platform available today, being that the platform sees high liquidity and has high leverage of up to 100x.
In just a couple of short years PrimeXBT has grown to having daily trade volumes of up to $950 million, now being amongst the largest crypto platforms on the planet.
Traders also enjoy the lowest fees we’ve found in the market at just 0.05% across all trades.
While many platforms in the crypto industry provide crypto listings exclusively, PrimeXBT has connected the worlds of cryptocurrency and traditional trading with listings of assets such as forex pairs, commodities and stock indices.
Worst
Bitmex
Bitmex has suffer through a year of scandals with a mass exodus of its users and huge drop of its trading volume as a result of this.
Bitmex’s woes started early 2019 when news broke of the CFTC’s investigation into whether Bitmex has been allowing U.S. traders to use the site illegally.
This continued with news that Bitmex had been trading against its own clientele, with Bitmex’s COO quitting in the months following this.
To finish off a bad year for Bitmex, the platform announced that it had leaked a large amount of user data to hackers and that its Twitter account had been hacked in late 2019.
In Summary: Bitmex in 2020
So PrimeXBT and Binance have pulled ahead as the two preferred places to margin trade cryptocurrency in 2020, while Bitmex has lost the top spot over the last 12 months and now is embroiled in many different scandals at once.
The number of traders now using crypto leveraging is now growing as well and where it was quite niche 5 years ago to consider margin trading crypto, today it is almost essential for success.