There are a lot of trading strategies and platforms for them that align with different personal characteristics and scenarios. Some of them refer to long-term trading, while others to high-frequency day trading, and among them, you can find the golden middle such as swing trading.
And as any other strategy, it requires proper crypto swing trading tools and platforms. Here you will find the crypto swing trading platforms comparison. We will explore top crypto swing trading platforms, so you can choose the most suitable, such as the best platforms for beginners in swing trading and the best ones for experienced traders.
What Is Swing Trading?
Swing trading is among the most popular crypto trading strategies out there. It’s all about understanding that prices don’t move in straight lines. Instead, they go up and down because of different groups of buyers and sellers. Swing traders see these changes as chances to make money. Even small price swings can lead to big gains if they use the right tools.
Unlike some other types of trading that focus on lower timeframes, swing trading takes a bit more time. It’s like a middle ground. Trades last more than a day but usually not more than a couple of weeks.
When you opt for swing trading, it’s super important to pick the right place to trade. The trading platform you choose can make a big difference in how successful you are. In this article, we’ll help you learn about some of the top swing trading crypto platforms out there on which you can start your swing trading journey.
Top 5 Crypto Platforms for Swing Trading?
Our top picks for the best swing trading cryptocurrency exchanges include:
- MEXC
- Bybit
- Binance
- PrimeXBT
- Phemex
1. MEXC
MEXC is a top choice for swing trading among low-fee platforms for crypto swing trading. With over 10 million users, it’s a popular exchange that operates across different parts of the world, offers 2,743 coins, and is one of the most competitive fees on the market.Â
Namely, its Spot Fees for Maker 0.000% & Taker 0.020%, while Future Fees for Maker 0.000% & Taker 0.020% enable you to make many trades cost efficiently, keeping your swing trading strategy rewarding.
Also, they’re one of the first to add new cryptocurrencies, and they do it well, so you can get in on exciting new projects and a ton of different cryptocurrencies to choose from. If you want to trade in a variety of coins with minimal fees – MEXC is a great place to do it.
2. Bybit
Bybit is a great choice for swing trading if talking about the number of features of top swing trading platforms. Founded in 2018 in Dubai, it’s become one of the biggest names in the crypto world. Over 10 million people from around the world trade on Bybit. The exchange has grown a lot since it started and has focused on making it easy for users and keeping it super safe.
When it comes to trading, Bybit is ahead of the game. It’s one of the most advanced and secure platforms out there, made for both regular people and big institutions, becoming one of the most user-friendly platforms for swing trading and beyond.
It’s super-fast and can handle up to 135,000 trades every second, which is way better than other places. And guess what? Bybit has never had a major system crash. That means you can trust it to work when you need it and can execute your trade-in time.
Bybit is also careful about security. Apart from advanced security systems, they also want to make sure their customers are who they say they are. That’s why they encourage people to do a KYC check. This helps keep the platform and your trading safe. All in all, if you’re into swing trading, Bybit is a top spot to check out.
3. Binance
Binance stands as a solid choice for swing trading, and there are good reasons behind that. Founded in 2017 by Changpeng Zhao, Binance has gained immense popularity in the crypto landscape, providing a standard for many other crypto platforms, from its design to technical and security solutions. In fact, it holds the distinction of being the world’s largest platform for trading cryptocurrencies, with over 90 million users worldwide.
While it offers an array of trading options and features, adapting to it might take a bit of time, especially if you’re new to this kind of setup. A beginner might find it a bit complex, but if you are looking for an exchange that offers all-in-one options – Binance is an excellent choice.
What makes Binance a top swing trading platform is that it provides a wide array of tools for trading. Whether you’re using a computer or a mobile device, you’ll discover an assortment of charts to help you grasp market trends, along with a selection of over a hundred different cryptocurrencies.
Binance is also among the most trusted crypto exchanges. However, it’s worth noting that some individuals harbor concerns about Binance’s reputation. All in all, if you’re prepared to invest some effort in learning and you’re keen on swing trading, Binance might be a fitting platform for you.
4. PrimeXBT
Established in 2018 by a team of experienced software developers and finance professionals, PrimeXBT is a cryptocurrency trading platform that widens its scope to encompass various markets. It provides access to an array of options, including cryptocurrencies like Bitcoin, Ethereum, and more, as well as traditional offerings like Forex, Indices, and commodities such as Copper and Silver.
PrimeXBT is a strong choice for swing trading due to its wide range of accessible markets. This allows traders to diversify their portfolios and take advantage of different market opportunities. The exchange also offers unique features like Covesting, where new traders can follow other traders and copy their trade ideas.
Furthermore, the platform places a substantial emphasis on security, implementing measures like cold storage for digital assets, rigorous encryption, and multi-layered security systems. This focus on safeguarding user funds adds an extra layer of trust for swing traders aiming to engage in secure and profitable trades.
PrimeXBT is an easy choice to recommend when it comes to Swing Trading. There aren’t many exchanges out there that offer a smooth experience like PrimeXBT.
5. Phemex
Established in 2019 by former Morgan Stanley executives in Singapore, Phemex set out to create a user-centric crypto trading platform that suits both newcomers and experienced traders alike. Its platform emphasizes a seamless user experience, with a focus on quick registration, reduced transaction times, and an intuitive interface.
Phemex’s strengths lie in its spot and peer-to-peer trading features, which allow users to buy and sell a diverse range of cryptocurrencies without incurring fees at certain VIP levels. The platform goes the extra mile by offering users the convenience of multiple sub-accounts, each with separate balances and varying permissions. This facilitates flexible trading strategies that can adapt to market changes.
While Phemex seems relatively secure with its Hierarchical Deterministic Cold Wallet System and Amazon Web Service Cloud protection, its regulatory status is not entirely clear. The platform employs thorough safety measures, including automatic withdrawal processing and robust control systems to prevent risky requests. Overall, Phemex provides an enticing blend of user-friendly trading features and security precautions, making it an attractive choice for those looking to dip their toe into swing trading.
How to Choose a Swing Trading Platform
There are many good platforms for swing trading, and each from this list is worth choosing for one reason or another. So everything comes to your experience and priorities. First, you need to determine how much time you already spent trading and how much you are willing to.Â
If you have not spent a lot, it probably would be better to start with the most user-friendly and secure ones like Bybit. If Bybit is not something that you are looking for, but still need a user-friendly platform – look at Phemex.
If you are already an experienced trader – it comes to your priorities only. Lowes fees – Bybit still offers it with higher VIP levels, but MEXC provides it almost immediately. The most established and trusted one with plenty of features – think about Binance. Big variety of assets, even bigger than MEXC – think about PrimeXBT.
Conclusion
Best exchanges for swing trading crypto can be any that enough secure, efficient, and beneficial, but the most crucial point is your own experience in trading and excellent knowledge of the chosen platform. What your decisions are backed by – truly determines how well your trades will be, so keep learning, watch deeply, and be aware.
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