2022-9-13 21:31 |
Not every crypto platform provides access to the same level of tools to trade with. For example, Coinbase only lets users buy and sell crypto assets, while margin trading platforms like ByBit, Binance, and PrimeXBT allow for long and short positions, which can be used to trade crypto on leverage or hedge spot crypto holdings.
Because of the recent bear market, these tools have become increasingly important for traders to remain successful, stay profitable, and keep capital well protected. Among these three top-tier platforms, a winner must be chosen. Which of these brands offers the best all-around margin trading platform?
What Is Margin Trading, And How Does It Differ?Simply buying and holding crypto assets during a bull market can lead to a positive ROI. But the only way to take advantage of a trend change to crypto winter is to sell your crypto assets and buy back at the bottom. The idea is a lot more difficult in practice.
With margin trading, long and short positions give traders flexibility and control over the trend, whether it is up or down or even sideways. Margin trading also lets those who buy and hold crypto avoid selling assets and still make money and protect capital during a downtrend.
The Margin Trading Showdown: ByBit Vs. Binance Vs. PrimeXBTFor this article, we are ignoring any bells and whistles each platform might offer, such as access to NFTs, DeFi, or trading education. Even official blogs are off the table. For this comparison, all we care about is which trading platform performs the best, time and time again.
PrimeXBT is an award-winning margin trading platform with as much as 99.9% uptime, ensuring traders never miss a beat even when the most powerful volatility strikes. There is never any slippage, and orders execute at the price you want when you want.
ByBit is also known for its smooth-operating platform that rarely experiences any downtime. ByBit has grown in popularity in recent years and now offers leverage tokens and options in addition to margin trading.
Binance is the least stable platform of the bunch, with reported outages and flash crashes in its brand’s US and global branches. The company is the largest in terms of user base and trading volume, which could contribute to the occasional bottlenecks in performance.
PrimeXBT is known best for allowing crypto holders to use their assets as collateral rather than sell while getting access to up to 200x leverage on top cryptocurrencies like Bitcoin, Ethereum, Dogecoin, and others. The brand also provides long and short positions and stop-loss protection on traditional assets like stock indices, commodities, metals, and forex.
ByBit tops out at 100x leverage on Bitcoin and up to 50x on more volatile cryptocurrencies. If you are from the US, you are stuck with only 5x max. There are also leveraged crypto tokens with max 2-3x leverage.
Binance, at one point, offered up to 125x leverage on cryptocurrencies but has since pulled back to 20x. It also now offers leveraged tokens at various degrees of leverage. However, neither Binance nor ByBit provides any exposure to traditional markets, which is highly attractive during the ongoing crypto winter.
Conclusion: PrimeXBT Is The Best Margin Trading Platform TodayWhile PrimeXBT, along with the other platforms, also offers plenty of other bells and whistles, such as copy trading, education, weekly competitions, and a free mobile app, PrimeXBT gets the nod overall due to the greater focus on its core trading product.
In a challenging and volatile market environment, those platform extras become less profitable, and it always comes back down to what really matters: the trading tools and list of available instruments. This is where PrimeXBT simply cannot be beaten, which is why we selected it as the best margin trading platform of the bunch.
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