The advancement of cryptoassets has also led to the multiplication of platforms on which it is possible to trade them. With so many options, the investor may get lost among which are the best sites to trade their cryptocurrencies. For that reason, we have prepared a list with some of these platforms, suitable for trading cryptocurrencies
FTX is one of the highlights in cryptocurrency trading
One of the differentials that highlight FTX is the possibility of keeping any cryptocurrency as collateral for trades. Thanks to a partnership with Transfero Swiss and BRZ, Brazilians can access the FTX platform simply and directly. They can make deposits and withdrawals on the platform through a TED or even BRZ.
With regards to the withdrawals, in September FTX lowered the rates of cash-outs in reais on the platform of investments in cryptoassets (from 0.5% to 0.3%).
In addition, FTX operates with a wide variety of tokens, among which is BRZ, the first stablecoin backed by Real. Another crypto product available on the platform is the spot and perpetual pairs of more than 30 cryptocurrencies, something that was not available on exchanges operating in Brazil before FTX’s partnership with Transfero.
Another option for cryptocurrency trading is Plus500. The company was founded in 2008 and today has more than 2,000 shares and assets on its platform. One of the advantages is that it has licenses from various authorities from the sector. As a result, it is possible to trade from several countries.
One of the investment options in Plus500 is cryptocurrency CFDs, short for contracts for difference. In this type of contract, the gains come from the differences between the price of the asset at the time of signing the contract and the date on which it ends. That’s because the parties involved agree to pay the other the difference between the price of the asset at the beginning and end of the contract.
In addition, a recent partnership between Plus500 and German company BITA has allowed Plus500 users to gain more market exposure through the Crypto 10 Index. While the traditional S&P 500 includes 500 assets traded on the New York market, Crypto 10 is made up of the top 10 cryptocurrencies on the market. According to the Bitcoin Guide, these 10 currencies represent 83% of the market capitalization of digital currencies.
It is noteworthy that Plus500’s own website warns that “CFDs are complex tools and present a high risk of rapid loss of money due to the leverage effect”. Therefore, the company recommends that the investor understand how CFDs work before betting on this tool.
The world’s largest cryptocurrency exchange, Binance offers specialized platforms for storing, buying and selling these digital currencies
In addition, the company, founded in 2017, was not restricted to the trading platform. It developed her own blockchain and cryptocurrency. And, with an eye on the DeFi boom, decentralized finance, it has opened decentralized technology research and development departments, as remarks the Bitcoin Guide
In addition to traditional currency trading, Binance also has the so-called over-the-counter trading (OTC) when price negotiation is done directly between traders. Another option is trading cryptocurrency derivatives. This modality increases investor exposure through leveraged positions, which can increase gains —but it also raises risks.
Closing the list we have eToro. The platform stands out because it offers a wide range of investment possibilities. In addition, among the multiple options there are methods for different levels of experience, that is, it is not only for those who have been on the market for a long time.
One of the interesting tools of the platform is Social Trading. It allows the “lay” investor to have access to the portfolio of other investors, who will serve as a reference. You just have to open the tool page and search for the investor or use one of the available filters to reduce the range of investor options. Among the filters there is, for example, the risk of the wallet or the gains. After that, you just need to select the one that looks best for your profile. The eToro also says it rewards “copied” investors with a percentage of the value of their assets.
Like Plus500, eToro has the option of trading with CFDs. But it also offers portfolios to diversify investments