TRADE Wars: Battle of The Best Bitcoin Margin Trading Platforms

With competition so fierce across the crypto market, it’s breeding excellence around every corner and creating more solid options for traders to choose from and call home.

But even despite the dozens of alternatives that exist throughout the industry, a handful of Bitcoin-based margin trading platforms stand out from the rest due to their remarkable performance in key areas we define as TRADE.

For a platform to qualify, they must excel or be widely renowned for the following qualities:

• Tools - The platform must meet a certain industry standard for services offered, order types, leverage, customizations, and innovation.
• Reputation - The platform must be recognized by the community for its excellence in customer service and being a leader in the space.
• Accessibility - Any platforms considered must offer a simple to learn user experience and low minimum deposits, in addition to other ways to introduce traders to the platform or incentivize their loyalty.
• Diversity - Each platform listed offers diversity across the assets offered, whether the platform includes altcoins or traditional assets in addition to Bitcoin.  
• Earnings - Profits are the entire point of signing up for any trading platform, so this is the most important factor. In addition to traditional trading, platforms should include additional ways for their clients to bolster their income beyond trading alone.

PrimeXBT

Traders seeking an all-in-one solution with need to look no further than this Bitcoin-based, multi-asset advanced trading platform offering up to 1000x leverage across forex, commodities, stock indices, and cryptocurrencies.

The platform is at the forefront of innovation and is constantly added new instruments for trading and rolling out exciting new profit generating features.

Tools

PrimeXBT’s claim to fame has always from the start been that it offers trading tools built on a foundation of experience across traditional markets. The platform is designed to put more profits back into the accounts of traders, by the way off profit-generating trading tools, an aggressive referral program, innovative products, and a progressive discount system that rewards the platform’s most active traders.

The trading platform offers up to 1000x leverage, with a maximum of 100x on Bitcoin and other cryptocurrencies.

Built-in charting software ensures that any entries or exits are perfectly timed according to a carefully planned strategy, for the most possible profit and almost accurate control over risk. Over 50 of the most popular technical analysis indicators are included.

Reputation

PrimeXBT was recently honored in an independent review of cryptocurrency exchange customer service experiences by a top cryptocurrency industry influencer. The platform was compared against other top platforms, and accommodated all requests in a fast and friendly manner, exceeding all expectations.

The platform is also known for its 99.9% uptime providing unmatched reliability.

Recently, PrimeXBT also took home three individual awards from the 2019 Forex Awards, including Best Cryptocurrency Trading Platform, Best Cryptocurrency and Forex Broker, and Best Crypto Trading App.

Accessibility

PrimeXBT offers one of the fastest signup processes thanks to a lack of a KYC process. Ditching this time consuming steps allows traders to get started in just a minute or less.

The platform also keeps minimum deposits and minimum positions sizes low, making the cost of entry extremely low - anyone can get started with just a little amount of starting capital.

The interface is extremely user-friendly, and includes many customizations to personalize the trading platform experience.

Diversity

PrimeXBT is the only platform making the cut that includes traditional assets under the same roof as cryptocurrencies like Bitcoin and Ethereum.

Asset variety is among the platform’s most noteworthy benefits, making it a major differentiating factor in an industry full of the same list of instruments again and again.

By gaining exposure to assets beyond just Bitcoin, traders can build a diverse portfolio that reduces risk and maximizes profit exposure.

Crypto traders can dive right into the world’s most popular forex currencies, commodities like natural gas and oil, and stock indices like the Dow Jones, and NASDAQ.

Earnings

PrimeXBT’s growth has been nothing short of a viral sensation, both due word of mouth of the platform’s tools and because of the four-level referral program.

Traders on PrimeXBT can supercharge their earnings on the platform by referring users to register.

Each new signup will earn up to a 20% commission, and any new registrations the referred user brings in, also earns a commission - up to four levels deep.

By growing your network, earnings begin to stack up quickly. Top earners on the platform have already generated over 50 BTC on referrals alone. Combined with a successful trading strategy profits can pile up quickly.

Binance

Binance is among the most popular cryptocurrency exchanges in the market, known for its diverse list of altcoins, range of products, and its native crypto utility token.

The company often brings new products to the market and helps shape the overall crypto landscape.

Tools

Binance started out as a spot trading platform for cryptocurrencies, so it still offers that basic functionality.

Later on, Binance added margin trading at up to 5x leverage and futures trading at up to 125x leverage.

Binance includes all common order types, keeping things straightforward and simple, but lacks intricate tools for charting or planning.

Reputation

Binance has become a bit of a poster child for the cryptocurrency industry and the company’s CEO is an iconic figure who regularly speaks out on important industry topics.

The platform is an innovator in areas, such as bringing to market one of the the most useful and utility-driving native exchange tokens with Binance Coin, and using it to introduce new altcoins to the market through initial exchange offerings.

Binance has also earned a reputation for lashing out against hackers, and creating a fund designed to thwart future hacking efforts and bring the criminals to justice.

The company also just revealed the first ever B2B2C cloud-based service that provides a turn-key solution for other businesses to launch digital currency exchanges of their own, using the underlying Binance platform technology.

The new Binance Cloud service could cause a rapid proliferation of new trading platforms in the days ahead, each with their own unique niche.

Accessibility

Binance was able to grow their user base so quickly at the height of the crypto hype bubble by making the sign up process simple and offering an easy to use, clean website for newcomers to trading to get comfortable.

Making deposits is simple and are extremely low, making getting started quick and stress free.

Binance offers fiat deposits depending on the region, the purchase of cryptocurrencies using a credit card, or by depositing Bitcoin or one of the dozens of Altcoins listed on the platform.

Diversity

Binance’s most attractive feature has always been its exotic list of altcoins. At peak crypto hype, investors flocked to Binance in droves to FOMO into altcoins, causing prices to skyrocket.

But after the bubble popped, Binance maintained its leadership position by continuing to offer new products and services, including starting the initial exchange offering trend through the advent of the Binance launchpad platform.  

Earnings

Binance’s referral program leaves a lot to be desired with just 20%. A second tier is available at 40% but requires a large sum - 500 BNB - of the platform’s native utility token be held.

But the value and utility provided by Binance Coin far outweighs any drawbacks from a lack of a strong referral program.

Binance Coin immediately discounts users trading fees just by holding it and using it to pay for fees. This also helps to build into the asset’s value, and give it additional utility.

Binance Coin is also used for voting, or for gaining access to invest in early asset launches through initial exchange offerings on the Binance Launchpad platform.

It also was one of last year’s top performing assets bringing anyone who took advantage of holding the asset additional gains.

BitMEX 

If you’ve been around the cryptocurrency industry for any period of time, chances are you’ve heard the good, the bad, and the ugly about BitMEX.

The Seychelles-based platform dominates the trading volume across the cryptocurrency market, in terms of total Bitcoin traded. It is one of the oldest and longest standing margin trading platforms in the space, helping it to gain an early leadership position.  

Tools

BitMEX built its massive user base by offering traders the ability to long or short the market with up to 100x leverage before anyone else did, and long before Binance or PrimeXBT even existed.

These tools remain the cornerstone of what makes the platform appealing to traders even today. Stop orders and take profit orders are available, along with other more traditional order types.

BitMEX offers isolated margin across a variety of different levels providing control over risk and profit potential.

Reputation

Although BitMEX enjoys the most trading volume across the cryptocurrency industry, its reputation isn’t as stellar as one would think.

A recent leak of user email addresses hurt what had been otherwise a fairly clean track record.

Beyond the snafu, the platform has always been known to be the preferred choice for most crypto traders.  Despite the notoriety, the platform is still extremely highly regarded.

Accessibility

Signing up to BitMEX is quick and painless, and requires a low minimum deposit.

The platform’s tools are about as straightforward as it gets, with limit and market orders, although the way stop and take profit orders are set up can be consuming to newcomers.

Diversity

BitMEX only offers a select handful of assets across Bitcoin and altcoins, but the list is always growing. The platform just introduced a new perpetual swap contract for XRP in recent weeks.

The platform is most widely known for its Bitcoin trading, but also offers contracts for Ethereum, EOS, Tron, XRP, Bitcoin Cash, and Cardano.

Earnings

BitMEX offers a no frills referral program that gets by on the fact that anyone who signs up themselves gets a 10% discount off of trading fees, and the platform’s namesake sells itself.

After traders have been signed up, commission levels depend on how much Bitcoin these traders are turning over on the platform. From 0 XBT to 999 XBT commissions are 10%c and from 1000 XBT to 9,999 XBT commissions are 15%. Over 10,000 XBT is the max earnings capped at 20%.

Conclusion

In the Battle of Bitcoin-based margin trading platforms, where you TRADE ultimately is up to personal preference.  

These platforms represent the very best the industry has to offer, enabling traders to profit from both rising and falling prices using a plethora of trading tools.

With competition so strong, it may come down to the extra benefits as a deciding factor, including customer service, additional earnings potential, or asset diversity.

Whatever your reason, choosing where to TRADE can be a more important decision than the individual trades you make.