How to choose a trading platform

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Choose your platform and payment providers based on your personal needs. Find a platform with a user-friendly interface. You should be comfortable using it daily and understand all the functions and features provided.

It’s also important to choose a trading platform that meets your current and future needs. You may be a beginner now and only need essential functions. When you become more advanced, you need additional features. Finding an exchange with all the features and functions means that you won’t have to change platforms later.

Some exchanges have upgrade options. Other platforms provide opportunities for testing their features without risk.

Another vital thing to look for is performance stability. It needs to be compatible with your software and provide you with a smooth and stable experience. Test the platform’s customer support. Check if it offers phone, email and chat options. Ask them questions and see how helpful their response is.

What type of trader are you?

In this section, we’ll have a look at some of the most common types.

Fundamental traders focus on company-specific events. The aim is to ascertain when and which cryptos to buy. This occurs through analysing and comparing each currency. Fundamental trading works with short-term and long-term trading but is mostly used for long term investments.

Noise Traders use data from the exchange they trade on to decide what currency to trade and when to sell or buy. Noise traders usually make trades based on short-term trading strategies and profit from several economic trends. They often neglect timing advice and react strongly to bad and good news. This is the most common type of trader.

Sentimental traders use a combination of both technical and fundamental analysis to find and engage in market movements. They base their trading strategies on swing trades and influential trends in the asset values. They don’t base decisions on trading any specific currency. Their trading strategies are fast-paced analyses and dependent on timing.

Market traders look for economic data and technical indicators to predict market movements. Academics, often market traders, don’t believe currency movements can be predicted without proper research. This is a more cautious and challenging type of trading style more used for long-term investment trading.

Arbitrage traders buy and sell simultaneously in different forms and on various exchanges. They strive to profit from assets by buying on cheaper exchanges to sell other exchanges that offer higher prices. They make repetitive small profits.

What payment providers do you need?

Unocoin bitcoin wallet has over 500 thousand registered users. It has partnerships with Bitwage, Paycase and blockchain and offers Bitcoin features like systematic buying plan, over-the-counter trading and point of scale.

Belfrics collaborates feeds from multiple exchanges to provide better liquidity and effective trade implementation. It offers point of scales, mobile credit cards and a bitcoin web payment gateway.

Bitxoxo allows cryptocurrency traders to sell, buy and gift coins. It doesn’t impose fees for services. Bitxoxo also accepts withdrawals and payments through the immediate payment service (IMPS).

BTCXIndia allows trading in Bitcoin, Ripple and Ethereum. It also operates the ETHEXIndia wallet system that enables trades in real-time between INR and ETH. BTCXIndia works through mobile networks as an Android app.   

BuyUCoin, registered as iBlock Technologies, is a multi-cryptocurrency trading platform. It accepts currencies like Bitcoin, Litecoin, Ethereum, Ripple and crypto-tokens like Augur, Golem and Stratis.

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