There’s a myriad of crypto exchanges available all around the world – Thousands of exchanges in which you can trade different cryptos and other currencies – But not all are the same.
Before Doing Anything Else, Finding The Right Futures Trading Exchange Should Be Your Top Priority.
Some exchanges are definitely a no-go, some others legit but might not be not very reliable, there are also legit and reliable but without much to offer, and then there’s a selected group of exchanges that make the top of the list as the best for trading crypto futures.
Based on the nature of crypto and its age, you can’t expect just any crypto exchange to behave or have the same characteristics as traditional exchanges. However, there are some very dedicated and specialized platforms where you can rest assured knowing that you can focus entirely on your trades rather than possible issues.
Some of these platforms have been around for quite some time, while others have earned their place in the crypto futures market by exceeding expectations and achieving new standards of quality.
Without Further Ado, Here’s The List Of The Top Crypto Future Exchanges:
1 – CoinFLEX
Despite being the newest cryptocurrency futures exchange on this list, CoinFLEX occupies the first place for a good number of reasons. It is growing fast, strong and rapidly becoming more relevant in the market each day.
It’s the world’s first “physically delivered cryptocurrency futures exchange” and since its founding, it has attracted some very well-known investors. The company is backed up by notorious figures such as Mike Komaransky, Roger Ver, Trading Technologies, DCG, and Polychain Capital.
Besides that, their strong point is that CoinFLEX was created with futures trading in mind. This means that crypto futures are their main purpose (instead of just being a plus). This alone could be enough to put them in the first place, but there are also other features.
Their platform is extremely secure and with some good cold storage policy. Thanks to this policy the vast majority of funds is stored in cold wallets rather than hot wallets, which is great news for investors because a hack will not be able to cause much damage.
2 – Binance
Binance is without a doubt a well-known name among crypto traders. Originally they began as a spot trading exchange but launched their futures trading services until the second half of 2019.
This is great news for Binance users as now they have the opportunity to tap into the futures market within a platform that they already use. However, while it is one of the biggest and highest volume platforms out there, even their “basic” version can be somewhat complicated to use.
A good benefit is that as one of the largest exchanges, the transition from spot trading to derivatives is very simple and seamless. It’s a great plus to have both markets integrated in a single user interface.
As for their versions, basic and advanced are very much alike. The only noticeable difference is that the advanced version offers more data and technical analysis of the currency over time. The basic version is not so detailed but you’ll still be able to see graphs and charts, order books and your trade history.
3 – BitMEX
BitMEX is the oldest derivatives crypto exchange in this list. It was founded in 2014, when the great majority of crypto markets were still small and mostly unknown.
Many large traders go with BitMEX because it offers some good spread in crypto (less slippage) as well as 100x leverage on some pairs, which is amazing. One drawback, though, is that deposits and withdrawals on this platform can only be done though BTC, which is a huge turn off for traders not interested in actually owning crypto.
Bitmex offers a wide variety of cryptocurrency contracts like Bitcoin, Ethereum, LItecoin, Ripple and Dash. Besides that, opening an account is not hard at all, however, that doesn’t make it the best platform for beginners.
Overall BitMEX is a great platform that offers anonymity while also letting you make use of some great leverage. However, among all the great features of trading on BitMEX there’s also the fact that it is not the most intuitive platform, so it’s better suited for the most experienced traders.
4 – ByBit
ByBit is a pretty reliable futures trading platform that has not been on the market for long. The platform is easy to use and attractive, especially for beginners. However, a big con is that it does not allow US citizens.
The exchange does a great job at helping new users use their platform and even offer some good promotions regularly. It offers perpetual futures and spot exchange functionality focusing on keeping it simple with only Bitcoin, Ethereum, XRP, and EOS futures that can be leveraged up to 50x.
One of the biggest advantages of trading here is that everything is kept simple, their Bitcoin Futures market is highly liquid and fees remain low, which is always great for a trader.
Security is also strong thanks to their cold storage. This means that most of your funds will always be protected in case anything happens, something that many exchanges have failed to do before. On top of that, there are also some features like multiple two-factor authentication that will help you keep your peace of mind.
Overall, a good platform for beginners with strong security but with a lack of asset variety and support for US customers.
For many different reasons, not all exchanges can be at the top. These four platforms are considered among the best based on their reliability, market liquidity, ease of use and many other factors that you should keep in mind when choosing who to work with.
Even with their cons, these platforms have paved their way to being considered the best futures exchange platforms. There are clearly more Pros than Cons. But at the end, whether you decide to go with one or the other, it should depend on how comfortable you feel with their tools and how well they align with your needs.