Whether a beginner or an experienced trader, crypto day trading is a dream job for many, but they need the proper tools, like the best crypto exchange for day trading.
Selecting one is crucial, as you have to search for a trusted one with low commissions, plenty of liquidity, tight spreads, and a vast selection of analysis tools and markets. Fortunately, we’re here to help, so let’s start!
Best Day Trading Crypto Exchanges List
Exchange
Bank Transfer
Fees
Trading pairs
Create Account
Binance
Yes
0.00 – 0.05%
1,300+
Kraken
Yes
Tiered fees based on 30-day trading volume
644
OKX
Yes
Tiered fees based on 30-day trading volume
500+
MEXC
Yes
0% – 0.1% (VIP dependent)
2,100+
Margex
No
0.019 – 0.060% depending on maker/taker
50
ByBit
Yes
Tiered fees based on account level
300+
Coinbase
Yes
Tiered fees based on 30-day trading volume
300
KuCoin
Yes
Tiered fees based on 30-day trading volume
1,300+
What Is the Best Crypto Exchange for Day Trading?
Crypto day trading is one way you can make money with cryptocurrency. The criteria we look for when reviewing the best day trading crypto platforms include low fees and commissions, lots of supported markets, and access to the best crypto tools and features.
And, of course, we only consider day trading crypto providers that offer a safe and secure environment. Considering this, the best day trading crypto platforms for 2024 are discussed below.
1. Binance – Best Crypto Exchange for Day Trading and the Largest Exchange by Volume Globally
Binance is the largest exchange by volume globally. It is highly suitable for day traders and is known for its highly intuitive user interface and wide range of digital assets. The interface enables streamlined trade execution and quick navigation. The platform offers unparalleled liquidity, making it excellent for performing large-volume trades effectively.
Day traders can enjoy many trading opportunities so they can leverage market volatility to their advantage for long- and short-term gains. Some advanced trading features are different order types, real-time charting, and margin trading.
In addition to the trading features, Binance also offers financial products such as Launchpool and Binance Earn, beneficial to day traders who want to diversify their income and strategies. Free trading bots are available, including futures grid, spot grid, spot DCA, and rebalancing bot. The exchange offers strong security protocols and support for numerous blockchain networks.
Pros:
- Binance offers 100x leverage on perpetual futures.
- It has a highly intuitive user interface.
- The platform provides unparalleled liquidity.
Cons:
- It has a history of regulatory issues in various jurisdictions.
- Some features may be limited in certain countries due to compliance with local regulations.
2. Kraken – Best Crypto Day Trading Platform With Diverse Asset Offerings
Kraken is one of the most popular and trusted crypto exchanges, with high liquidity and low slippage. Some of the available features are advanced trading, spot trading, futures trading, margin trading, and staking options.
For instance, traders who want to set up custom bots for automated trading should know that Kraken collaborates with many trading bot providers and provides excellent API documentation. The platform strongly supports third-party trading bots such as Haasbot, Cryptohopper, Hummingbot, and more.
Its advanced charting dashboard, Kraken Pro, has numerous features, including indicators like Moving Averages and MACD.
Kraken is available globally but doesn’t support users in WA and KY, and some other states may have limited product offerings. This comprehensive cryptocurrency exchange became the preferred choice for experienced investors during the early stages of the cryptocurrency market, and it has continued to uphold its image as a trustworthy and proficient trading platform.
Pros:
- Kraken offers custom bots for automated trading.
- It is known for its low slippage and high liquidity.
- Kraken is one of the oldest crypto exchanges.
Cons:
- Some US states are banned, and others have limitations.
- Payment options are limited.
3. OKX – One of the Best Crypto Exchanges for Day Trading, Supporting 77 Blockchains
OKX is a crypto exchange that is highly suitable for crypto day traders. The exchange provides numerous automation features, like crypto trading bots, DCA, grid, arbitrage, and copy trading. It has low fees and discounted rates for OKB holders. The platform offers copy trading with no slippage and zero fees.
Those interested in the exchange can make deposits using a Master Card, Visa, and local banking methods. OKX supports P2P payments, too. The platform supports delivery and perpetual futures, spot trading markets, margin accounts, and options.
The OKX Wallet app supports almost 80 blockchains and connects to dApps to earn yields or make swaps.
The advanced features of OKX and occasionally complex funding processes are more appropriate for experienced traders. Nevertheless, the platform’s beginner-friendly features, such as copy trading and well-supported demo accounts, also make it valuable for individuals learning to trade.
Pros:
- OKX is suitable for both beginners and experienced traders.
- The exchange provides numerous automation features.
- Premium liquidity levels are available 24/7.
Cons:
- Debit and credit card fees are built into the exchange rate.
- OKX isn’t available in the US.
4. MEXC – Best Place to Day Trade Crypto With High Leverage
If you winder where to day trade crypto, consider MEXC. It is an excellent choice for crypto day traders, offering a wide range of features that improve trading effectiveness. The platform doesn’t require users to submit KYC information. MEXC is known for its ultra-fast trade execution, handling up to 1.4M transactions per second.
This platform is a very cost-effective option, as it has a zero-fee policy on spot trading for makers and competitive fees for takers, so users can maximize their returns on high-volume trading days. Its user interface is designed for ease of use, so it’s very suitable for day trading in a fast-paced environment.
It also offers technical analysis resources and comprehensive charting tools. MEXC’s demo trading account allows users to get acquainted with the platform or practice strategies, simulating real market conditions with no financial risk. MEXC is a strong platform designed to meet the needs of day traders, offering diversity, speed, and user-friendly tools within a secure environment.
Pros:
- MEXC has a zero-fee policy on spot trading for makers.
- Its user interface is designed for ease of use.
- The platform offers customizable alerts.
Cons:
- Some listed coins seem to be dead projects.
- MEXC doesn’t support direct fiat currency exchange.
5. Margex – Crypto Day Trading Platform With an up to $100 Welcome Bonus
Margex is another no-KYC crypto exchange, meaning traders can trade markets anonymously by providing only an email address and a password. New users can enjoy a welcome bonus of up to $100, which they can use against trading commissions.
While the platform specializes in perpetual futures, it doesn’t offer spot trading markets. It provides access to a live deal flow and a deep order book of over $40,000,000 from more than 12 liquidity providers. This setup prevents a single trader with a large order from being able to manipulate prices.
Some available futures markets are Bitcoin, Arbitrum, Dogecoin, Shiba Inu, SushiSwap, Ethereum, and XRP.
The platform’s multi-collateral wallets enable users to deposit any crypto and trade any pair listed on the exchange. The settlements are made in the user’s chosen collateral, and there’s no need to own the underlying asset when trading different pairs.
Pros:
- Users can go long or short on all supported pairs.
- It offers a great trading app for Android and iOS.
- Margex provides anonymous day trading accounts.
Cons:
- Margex doesn’t offer spot trading markets.
- It is more suited to larger trades because of its minimum withdrawal limits.
6. Bybit – Best Exchange to Day Trade Crypto, Allowing Users to Trade Crypto With up to 100x Leverage
Bybit is a crypto exchange that offers high liquidity, low fees, and a relatively high number of trading pairs. The platform has over 50 million registered users and is available in 160 countries.
Crypto day traders can take advantage of the platform’s convert trades product, enabling free and fast trading with no slippage. Moreover, Bybit allows for automated trading, copy trading, and free fiat withdrawals, based on the method.
The platform offers crypto derivatives, allowing users to trade crypto with up to 100x leverage. What’s more, users can earn up to $30,020 in welcome rewards.
Earn products include liquidity mining, savings, ETH staking, and dual asset. Regarding automation, the platform offers trading bots such as DCA bot, spot grid bot, and futures grid bot. They are fully customizable, but users can also replicate top-performing bots from Bybit’s leaders.
Pros:
- Bybut offers a top-rated customer support team.
- It supports a relatively high number of trading pairs.
- An excellent convert trades product for crypto day traders.
Cons:
- There are withdrawal limits.
- Bybit is primarily designed for advanced traders.
7. Coinbase – Crypto Daytrading Platform With Crypto Storage Options
Coinbase is another addition to our list, as it provides numerous supported cryptocurrencies, advanced trading options, strong security, and an easy-to-use platform. It is a publicly traded decentralized crypto exchange available in over 100 countries worldwide.
Coinbase appears as an online banking app many people use, making the shift to crypto investing simple. Users can fund trading accounts through numerous payment methods, like ACH or wire transfer.
But, can you day trade on Coinbase? Yes, you can. The platform offers many products, like advanced trading with margin and spot trading, with each product including DeFi yield, staking, and ETH staking. As for automation, Coinbase provides auto trades with stop orders, limit orders, and more advanced trades.
The platform offers crypto storage options, like the custodial option for new investors or the non-custodial wallet for experienced ones. While Coinbase is available globally, US users may experience restrictions on some products because of ongoing regulatory problems.
Pros:
- The exchange offers quick withdrawals.
- It provides a wide range of educational resources.
- Coinbase offers robust security features.
Cons:
- Users have complained about a lack of high-quality customer service.
- It charges a 25% commission on staking yields.
8. KuCoin – Best App for Day Trading Crypto That Hosts Day Trading Contests for Newly Listed Coins
KuCoin is a centralized crypto exchange with a comprehensive range of digital assets and a user-friendly interface that is great for day traders. It is available in 200 countries and regions, and more than 200 projects have launched on the platform.
Since it’s centralized, KuCoin offers an effective and secure setting that is beneficial for swift decision-making and execution, both of which are crucial in day trading.
The platform supports numerous cryptocurrencies, which is great for diversifying portfolios. It is designed for ease of use, with an intuitive interface so that traders can act quickly on market movements. KuCoin offers advanced trading features, like futures and margin trading, and it is serious about security. Users can enjoy staking and earning rewards on KCS, KuCoin’s native token.
KuCoin regularly adds new cryptocurrencies from various launchpads and hosts day trading contests for newly listed coins. The app is available on Android and iOS.
Pros:
- KuCoin offers reward programs.
- The platform hosts day trading contests for newly listed coins.
- It provides a fully customizable, advanced trading interface.
Cons:
- KuCoin isn’t regulated in most regions.
- It isn’t beginner-trader friendly.
What is Crypto Day Trading Exchange?
Crypto day trading is the term for trading strategies that involve trading, buying, and selling cryptocurrencies in short periods during the day to profit from short-term price market movements. Trading positions stay open for a few hours or, in some cases, minutes.
While anyone can be a crypto day trader, a successful one needs a strong understanding of trading strategies and patterns, analytical skills, and the capacity to observe market changes closely.
Even though day trading can be profitable, users have to have a good understanding of technical analysis. This includes analyzing historical trends, charts, volume, real-time prices, technical indicators, and volatility. All of them help users predict the crypto markets in the short term.
A crypto day trading exchange is a platform where users can engage in day trading by buying and selling cryptocurrencies within short timeframes to capitalize on small price movements. The best crypto exchange for day trading provides advanced trading tools, such as real-time price charts, technical indicators, and high liquidity, essential for executing fast trades.
What Makes a Crypto Exchange Good for Day Trading?
- Fast order execution: Prices are extremely volatile in crypto trading, so slow execution speeds may lead to slippage.
- Real-time market data: This provides valuable insights into market patterns and trends, allowing traders to develop more efficient trading strategies. They can identify potential trading opportunities, like trend reversals or breakouts, and analyze market movements.
- High liquidity: This impacts traders’ ability to execute trades fast and at reasonable prices. The best crypto exchange for day trading has high trading volumes and an active trading community, ensuring minimal slippage in order prices, which is pivotal to keeping profitability in fast-paced trading spaces.
- Low latency: Platforms offering low latency typically execute faster, offer better prices, and react to market changes more promptly.
- Advanced charting tools: Charting tools help traders measure investor interest in an asset. So, trading chat analysis can help find and open lucrative positions, present trends, duration of the trends, strength of the movement, and more.
- Margin trading and leveraged products: Investors can use margin trading to borrow funds and buy more shares than they could with just the cash in their accounts. This allows for a larger exposure to the market compared to the initial deposit used to open the trade. Leveraged products increase the potential for both profits and losses.
How Does Crypto Day Trading Work?
First, trailers need to decide on a crypto day trading style, whether they will use an exchange or CFDs – contracts for difference. While an exchange is the more sensible option, it carries inherent risks.
Traders need a crypto wallet so that they can store the cryptocurrencies they sell and buy during the day. Yet, they should remember that they can lose their wallet key and thus lose their assets, too. Those using CFDs don’t need to own and manage the crypto they trade physically; they only speculate on the direction of the asset’s price.
They should take a long (buy) position if they think the price will increase. Conversely, if traders believe the price will drop, they should take a short (sell) position. If they guess the price movement, they can end the trade for a profit, minus any trading expenses.
How to Pick the Right Crypto Exchange for Day Trading
Traders who want to make money day trading crypto should know the factors for choosing the right crypto exchange to do so.
- Trading fees: Low fees are critical to day trading since day traders target smaller margins when positions stay open for a few minutes, so unfavorable fees make day trading unfeasible.
- Liquidity: Insufficient trading volume leads to low liquidity levels, meaning unfavorable market conditions and difficulty in selling and buying a crypto pair at a reasonable price. Low liquidity also means an unsuitable order book, resulting in substantial slippage.
- Security: Hackers often target crypto exchanges, with cybertheft and security breaches being extremely common. That’s why choosing an exchange with robust security measures is crucial.
- Trading tools: Technical indicators, real-time price charts, and customizable trading bots are some of the trading tools essential for a crypto day trade exchange, allowing traders to execute strategies, analyze market trends, and react to price shifts.
- User interface: An intuitive and clear user interface makes all the difference in day trading efficiency. The best crypto exchange for day trading offers an easy-to-navigate platform, ideal for both new and experienced traders.
- Regulation: Many people wonder: ‘Is day trading crypto legal?’ Compared to traditional financial markets, the crypto market is less regulated, which can result in less stability and an increase in market manipulation. This can add an additional layer of risk for day traders.
- Customer support: In day trading, many times-sensitive issues can arise, so a platform offering 24/7 support via many channels, like phone, live chat, and email, can improve the trading experience and resolve problems quickly.
- Mobile accessibility: These exchanges should offer mobile apps, providing full-trading capabilities. They are excellent for traders who want to manage their portfolios on the go and never miss a market movement.
Is Crypto Day Trading Profitable?
There is no surefire way to determine whether or not crypto day trading will be profitable for you. After all, there are simply too many factors at play.
At the forefront of this is whether you have the skill set to enter profitable positions consistently. That is to say, if you encounter more unsuccessful trades than winners, then invariably, you will lose money.
Another factor to consider is that the main concept of crypto day trading is that you will seek to make small but frequent gains.
If you have a small amount of trading capital at your disposal, you might find it difficult to make enough money in dollar terms for the process to be worthwhile.
- For example, if you have a trading balance of $500 and make 2% daily, this amounts to just $10 in profit.
- On the other hand, if you reside in a country that permits crypto CFDs, you can apply leverage to your position.
- This means that you can amplify the value of your trade. Of course, applying leverage will also boost losing positions, so do tread with caution.
When we evaluate crypto exchanges to recommend to our readers, our team takes into account numerous critical factors. The following are the most important ones:Our Methodology for Ranking and Reviewing Crypto Exchanges
Conclusion
Crypto day trading is the term for trading strategies that involve trading, buying, and selling cryptocurrencies in short periods during the day to profit from short-term price market movements. We’ve provided the best eight options on the market so that day traders can choose the best crypto exchange for day trading.
Examine them carefully, and consider the factors we’ve mentioned about what makes an exchange good for day trading, as well as the criteria for picking one.