Copy of Top 10 Crypto Trading and Portfolio Management Platforms
In the ever-evolving blockchain and cryptocurrency fields, choosing a platform for trading and portfolio management can be a confusing and tangled task. Nowadays, the table is full of options from different perspectives and for different goals. Making the right choice to trade and hold your cryptos can lead to the evaluation of aspects like fees, liquidity, regulation, and trading options.
In this opportunity, we address those aspects from the viewpoints of a multi-exchange platform, large exchanges, and market data aggregators, remarking how each one can help optimize trading performance and portfolio management.
What Is A Crypto Trading Platform?
A crypto trading platform is an interface where you can buy and sell coins. Essentially, these types of platforms are known as exchanges nowadays. Most exchanges let their customers buy and sell coins for the purpose of trading, offering services like spot trading, futures trading, and margin trading.
Spot trading refers to buying and selling coins in the spot market, where traders exchange coins in cash. It means that traders receive immediate delivery of the assets. If you buy 1 BTC in the spot market, you will receive 1 BTC. It differs from other trading models like futures.
In futures trading, traders deal with contracts that remark the underlying asset. When traders buy or sell in futures, they are essentially assuming contracts, which represent the quantity of the crypto asset traded, so in this case, traders do not receive the asset in cash but hold a contract until it liquidates in profits or losses.
Margin trading involves borrowing money from a broker or exchange to buy and sell an asset in the spot market. Traders use their initial investment as collateral for the loan.
Understanding Portfolio Management
Portfolio management is the skill to grow capital over time by holding a group of crypto assets as a long-term investment. It involves buying an asset that is considered cheap and has the potential to increase in price and selling when an asset is considered overvalued. Buying low and selling high is a principle for portfolio management.
This investment method aims to build wealth rather than make quick profits. Holding an asset over a sustained period will require knowing deeply what the investor is involved in, researching the project behind it, and being able to calculate potential prices and returns over time.
Portfolio management consists of:
Diversification: It aims to reduce risks by spreading capital across multiple crypto assets. This way, the portfolio can offset losses in one asset with gains in another.
Capital allocation: Determines the proportion of the capital destined to hold an asset.
Risk management: Considers the potential risks associated with an asset, evaluating potential risk-reward ratios and appropriate capital management.
Fundamental Analysis: Acquiring an asset to hold it long-term will require gathering information on the fundamentals behind the project, the team, and the company developing the proposal.
Multi Exchange Trading
1. Altrady
Altrady offers a wide range of streamlined features for beginners and professional traders. Altrady recognizes the role of education and puts special emphasis on beginners, allowing them to explore a complete library with trading resources covering several topics on fundamental analysis, technical indicators, and risk management.
This platform has the goal of assisting traders in:
- Manage their cryptocurrency portfolios.
- Manage multiple exchange accounts.
- Execute trades and optimize strategies.
With Altrady, investors can make informed decisions through a range of options like the Market Explorer and Portfolio Manager. The Market Explorer allows users to research cryptocurrencies based on specific data such as market cap, performance, category, and more. The Portfolio Manager tracks all the performance of the assets in your exchange accounts connected, plotting analytics charts that show portfolio growth and distribution over a period.
For more active traders, Altrady features Smart Trading options as well as Bot systems to leverage quick opportunities in the market. The Watchlists and Alerts can notify of specific price changes, helping traders to enter trades at the most relevant market movements and prices.
In Altrady, you can also backtest and develop automated systems to optimize trading strategies.
2. Bitsgap
Bitsgap offers a sophisticated trading terminal, automated trading bots, and portfolio management features. This platform presents a comprehensive suite of cryptocurrency trading tools to manage trades effortlessly.
The simplicity of this platform makes it attractive for most beginner and advanced traders. If you are a beginner, you can enjoy a well-designed platform with a complete interface. For an advanced trader, this platform will let you use advanced instruments professionally from a non-overwhelming trading suite.
Let's point out some Bitsgap features:
- Advanced crypto trading bots.
- Smart crypto trading terminal.
- Backtesting.
- Pre-made strategies.
3. Tradesanta
TradeSanta presents a different perspective, focusing primarily on automated crypto trading, offering a complete suite of trading bots and algorithmic strategies. It relies on the phrase “trade faster, maximize result”.
TradeSanta is also aware of risk management and takes care of it across a variety of tools that accompany the automation approach. You can basically set up and manage bots and algorithms with the confidence of trading according to risk concerns.
This platform helps traders to:
- Set up a trading bot in less than 10 minutes.
- Start small, trading from $10.
- Trade with robots across all available coins in your exchange.
- Trade signals.
Exchanges and Crypto Trading
4. Binance
Binance is the exchange with the world's highest volume of crypto trading. It features a built-in wallet and several products related to trading and blockchain. Through a wide range of cryptocurrency options, users can buy and sell coins from different asset classes from various industries.
In the Binance trading suite, you can find futures markets, spot markets, options, and margin trading. However, some of these options are not available for US residents, and the platform itself faces regulatory issues in some geographies.
If we would resume Binace in specific points, we would remark:
- Low fees.
- Multiple trading options, markets, and assets.
- P2P market.
- Trading interface adaptable to beginner and advanced traders.
5. Coinbase
Coinbase is one of the largest exchanges in the world, established primarily for US citizens. This platform stands out by offering a user-friendly interface, a native wallet, and a trading suite through Coinbase Pro.
Coinbase might be a good option for those who aim to hold assets over time and execute transfers across wallets. However, this platform is not popular due to its fees which can lead to high-cost transactions. In the same way, Coinbase does not go beyond limited trading features compared to other exchanges.
Key points to remark on Coinbase:
- Custodial and noncustodial methods to hold cryptos thanks to the native wallet.
- Security.
- Regulatory compliance.
- Trading interface for beginner and advanced traders.
6. Kraken
Kraken is a well-established exchange popular for its security, advanced trading functions, and robust regulatory background. This platform supports +220 cryptocurrencies and various networks for transactions as well as spot, futures, margin, and options trading.
Kraken Pro might be an appropriate choice for beginner and experienced cryptocurrency investors and traders looking for competitive trading fees and access to a wide range of coins.
Key aspects of Kraken:
- Intuitive user interface, although beginners might experience a less friendly experience.
- Deep liquidity.
7. Crypto.com
Crypto.com is a robust platform for trading and fulfilling all crypto transaction needs, making it a suitable option for investors at most levels. This platform offers a wide selection of cryptos and high-security levels, and it is known for attractive staking and lending programs to earn passive income with crypto holdings, as well as fee discounts by holding its native token CRO.
Beyond other features, like a prominent NFT marketplace, Crypto meets most of the requirements to be an option for novices and professionals, letting users buy and sell coins, and hold them over time in case of managing a portfolio.
Relevant considerations on Crypto:
- Some services are not offered in the U.S.
- High fees for credit or debit card transactions.
Portfolio Management
8. CoinGecko
CoinGecko is a market data platform that provides comprehensive information across a wide array of cryptocurrencies, including the less-known assets. Its detailed metrics offer in-depth reports on market capitalization, trading volume, and price history.
CoinGecko delivers basic portfolio tracking options, although it's not its primary focus. Traders can still leverage the platform data to make better-informed decisions regarding their portfolios.
9. Coinmarketcap
CoinMarketCap stands as a leading platform for the analysis of market data and as a source of valuable insights on market capitalization, trading volume, and price charts.
As a leading option, CoinMarketCap offers basic portfolio management features. It delivers data over a wide range of cryptocurrencies and tokens, from newest to oldest, and provides information on exchanges and various initial coin offerings (ICO).
10. Blockfolio
Blockfolio is a distinguished platform, with a user-friendly interface showcasing a clean and intuitive design, tailored primarily for portfolio management and asset tracking.
This platform stands out for real-time updates, providing up-to-date price information and portfolio valuations, and it also allows easy integration with exchanges.
Conclusion
Choosing the right crypto platform is a crucial step to be involved in trading and holding digital assets. In this guide, we explored various options and classified them into three sections trying to cover key aspects of trading crypto and managing portfolios, considering aspects such as transaction costs, fees, trading options, and regulatory constraints can be as important as entering and exiting trades at relevant prices.
Platforms like Altradycan serve as a starting point to fulfill both needs. You could have accounts in Binance, Coinbase, or Crypto, each for specific purposes, and gather them into one suite, where you can trade frequently through Binance leveraging on better trading features and fees while holding assets for a portfolio in others. Start a free trial account and start optimizing trading and portfolio management strategies.