6 Best Crypto Exchanges For Day Trading (Sep 2022)

August 23, 2022
Blog

Finding the greatest cryptocurrency exchange for day trading might be difficult, given the number of exchanges currently available and all of the features they offer. However, by going through this list of the top crypto exchanges for day trading, you should have an easier time selecting the one that best meets your needs.

The best overall crypto exchange for day trading is Capital. It has a user-friendly interface that allows for very quick and easy transactions, making it a favorite among experienced crypto traders. Capital also doesn't charge any trading fees, making it an excellent choice for people who intend to make frequent high-volume trades.

US residents won't be able to open an account with Capital, though, so in that case I recommend my #2 exchange, Crypto.com.

OPEN FREE ACCOUNT
Zero trading fees

What Is The Best Crypto Exchange For Day Trading?

1. Capital – Best Overall

Zero Fees

Trading fees: 0%
Supports: 100+ coins
Customer support: Excellent

Trusted by millions.

★★★★★

Rated 4.9/5

Capital allows users to trade crypto alongside stockscommodities, forex, market indices, ETFs and more—all without any trading fees. It supports 100+ cryptocurrencies, and users can trade with 2x leverage on crypto (up to 500x leverage on other assets).

Capital charges a tight spread ranging from 0.1% – 0.3% (depending on the asset), making the overall cost of using the platform (0% trading commissions + 0.1% – 0.3% spreads) very low. It has a fully functional desktop platform, a well-rated mobile app (4.7/5 on Android and iOS), and an excellent demo account where you can practice trading with real assets in real-time.

Capital’s desktop platform and mobile app are well-designed and easy to use by beginners and advanced traders alike.

Capital is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, which means it’s a safe, secure platform. Every user receives a dedicated account manager they can reach by email or phone anytime, which is part of the reason Capital’s customer support team receives such positive reviews.

Deposits and withdrawals are always free with Capital, and you’ll never pay trading commissions regardless of whether you place spot orders or limit orders. Capital is ISO 27001 certified for meeting robust information security standards, making it an extremely safe platform to trade with.

The biggest drawback of Capital is that it can take several days to have your account verified since their verifications team is overwhelmed with signups right now. If you sign up using my referral link, though, you can skip the waitlist and start trading immediately.

I’ve personally used Capital for more than 4 years, and based on my experiences and those of millions of other users, I can’t recommend it highly enough. 

Features

  • Zero trading commissions
  • Tight spreads (0.1% – 0.3%) 
  • Supports 100+ cryptocurrencies
  • Allows up to 500x leverage (2x leverage on crypto)
  • Fully functional demo account for paper trading
  • Free deposits and withdrawals via debit/credit cards, bank transfer, POLi, PayPal, Apple Pay, etc.
  • Dedicated account manager you can reach at any time
  • Excellent desktop trading platform
  • Well-rated mobile app (4.7/5 on both Apple and Google)
  • Licensed by the Australian Securities and Investments Commission (ASIC)
  • ISO 27001 certified for meeting extremely high information security standards

Cost

  • Trading fees: 0%
  • Spreads: 0.1% – 0.3%
  • Deposits & Withdrawals: Free

Signup Bonus

Skip the waitlist and have your account approved immediately by using my referral link.

Best For

Investors looking for the best overall crypto trading experience with no trading commissions.

OPEN FREE ACCOUNT
Zero trading fees

2. Crypto.com

Crypto.com: best crypto exchange Canada

Crypto.com is a major global player as far as exchanges go. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.

Crypto.com also offers some unique features that few other cryptocurrency exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.

Crypto.com has invested an enormous amount of money into its platform security, which makes trading with them extremely safe. The exchange is also lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.

Features

  • Supports 100+ cryptocurrencies
  • Allows up to 10x leverage
  • Trade crypto derivatives (futures and options contracts)
  • Earn daily interest by staking your coins
  • Purchase newly-listed coins at up to 50% off
  • Reasonable trading fees (0.4% per trade)
  • Free deposits from all cryptocurrencies

Cost

  • Trading Fees: 0.4%

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

OPEN FREE ACCOUNT
Extremely secure, 10x leverage

3. CoinSmart

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 bonus ends September 31, 2022.

★★★★★

Rated 4.9/5

CoinSmart is, without a doubt, the best crypto exchange in the United States in 2022. If you haven’t heard of them, that’s because they’ve been pouring money into improving their trading experience, not marketing. Still, if you ask any experienced American crypto trader, they’ll tell you the same thing: CoinSmart is the best in the business.

CoinSmart's trading fees are an incredibly low 0.20%. They offer excellent customer support via phone, live chat and email, and user accounts are verified instantly.

Most exchanges require users to trade every altcoin first with a stablecoin (eg. Chainklink with Bitcoin, and then Bitcoin with Shiba Inu), but CoinSmart allows users to trade altcoins directly (eg. Chainlink with Shiba Inu), minimizing fees and boosting your profits. And you're buying real crypto with CoinSmart, which means you can move it on and off the exchange whenever you want.

I've personally used CoinSmart for more than a year now and have had nothing but excellent experiences with them. I've tried out many of the other cryptocurrency exchanges on this list, so I'm confident that CoinSmart is the best place to buy crypto in the United States.

Features

  • Extremely low trading fees (just 0.20% per trade)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Trade all altcoins directly
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Trading Fees: 0.20%

Signup Bonus

$30 bonus when you sign up using this link

Best For

Investors looking to trade stablecoins or altcoins with the industry's lowest fees.

CLAIM MY $50 BONUS
Offer ends September 31, 2022.

4. Binance

Binance is an international cryptocurrency exchange that currently serves as the world's largest crypto trading platform by volume of daily trading. It began operations in 2017 and is now headquartered in the Cayman Islands.

Binance was founded in Hong Kong but later moved its headquarters overseas due to increased government intervention in cryptocurrencies. It has several notable characteristics, including powerful charting tools and access to the Binance Earn feature, as well as a Binance Visa Card.

Features

  • Supports 300+ cryptocurrencies
  • Supports 50+ fiat currencies
  • Binance Earn feature
  • Binance Visa Card
  • Advanced charting tools
  • Earn lower fees by using the exchange's native currency (Binance Coin)

Cost

  • Crypto deposit fees: Free
  • Fiat deposit fees: From 0% to 3.5%
  • Crypto withdrawal fees: From 0% to 2,5%
  • Taker fees: From 0.04 to 0.1%
  • Maker fees: From 0.02 to 0.1%
  • Futures trading maker fees: 0.02%
  • Futures trading taker fees: 0.04%
  • Instant buy/sell trade fees: 0.5%
  • Debit/credit card purchases: 4.5%

Best For

Investors interested in investing in relatively unknown altcoins.

5. Kraken

Kraken is a cryptocurrency exchange and bank originally founded in 2011. It's located in the United States (specifically San Francisco), and it enables you to trade fiat currencies like USD for cryptocurrencies and vice-versa. It also allows you to trade one type of cryptocurrency for another.

The exchange provides price data for digital assets to the Bloomberg Terminal, and you can create an account through the exchange anywhere in the world except for Cuba, Iran, and North Korea, making it one of the more global exchanges today.

Features

  • Supports 100+ cryptocurrencies
  • Simple and intuitive user interface
  • Kraken Crypto Watch feature that allows you to keep track of the crypto market
  • A plethora of information and educational resources on crypto for its users
  • 24/7 customer support through a variety of methods

Cost

  • Trading fees: Between 0% and 0.26% per trade
  • Crypto credit card purchases: 3.75% + €0.25
  • ACH crypto purchases: 1.5%

Best For

Cryptocurrency investors looking for an exchange with a wide array of supported altcoins and stablecoins.

6. Coinbase

Coinbase is an American cryptocurrency exchange that was originally founded in 2012. It’s based in San Francisco and it’s one of the oldest cryptocurrency exchanges in the world. It’s also the second-largest crypto exchange in the world, the first being Binance.

It was designed to be one of the easiest places to buy, sell, and trade cryptocurrency, and it serves retail investors, businesses, and institutions alike. Originally, it only supported Bitcoin, but it now supports a wider array of digital assets.

Features

  • Supports 100+ cryptocurrencies
  • Coinbase Pro, the premium service of the platform
  • Coinbase Earn, a bundle of learning resources and tools ideal for beginners
  • Coinbase Wallet app that allows you to store your cryptocurrencies safely
  • 98% cold storage policy to keep your funds secure
  • Insurance for hacked funds

Cost

  • Bank account fee: 1.49%
  • Debit or credit card fee: 3.99%
  • Coinbase USD Wallet fee: 1.49%
  • Credit transaction fee: 2%
  • ACH transfer fee: Free
  • Bid-ask spread: 0.5% (Can vary)

Best For

Crypto investors looking for learning resources on crypto and a wide array of supported cryptocurrencies.

In Summary

Finding the best crypto exchange for day trading can be a challenge, considering the number of exchanges that are currently available. However, by going through this list of the best exchanges for day trading, you should be able to have an easier time finding the one that best suits your needs.

The best overall crypto exchange for day trading is Capital. It has a user-friendly interface that allows for very quick and easy transactions, making it a favorite among experienced crypto traders. Capital also doesn't charge any trading fees, making it an excellent choice for people who intend to make frequent high-volume trades.

US residents won't be able to open an account with Capital, though, so in that case I recommend my #2 exchange, Crypto.com.

OPEN FREE ACCOUNT
Zero trading fees

Best Crypto Exchange For Day Trading FAQs

What Is Crypto Day Trading?

Crypto day trading is the process of buying and selling cryptocurrencies on the same day. It is a strategy employed to make profits from price fluctuations in the market.

To do this, traders speculate on the future price of a cryptocurrency and buy it if they believe its price will go up, or sell it if they think its price will drop.

Crypto day trading can be profitable if done correctly, but it is also risky and stressful. With this in mind, it’s important to do your research before you start trading and choose an exchange that best suits your needs.

Is Crypto Day Trading Legal?

Yes, crypto day trading is legal in most countries. However, it also comes with a great amount of risk, mainly because the cryptocurrency market is still relatively new and volatile.

How Risky Is Crypto Day Trading?

The main risk of crypto day trading is that you can lose money very quickly. Cryptocurrencies are extremely volatile and can swing in price by large percentages in a short period of time.

Another risk is liquidity. There may not be enough buyers or sellers at any given time to execute your trade. This can result in you not being able to sell your coins when you want, or having to sell them at a discounted price.

How Much Of An Initial Investment Do I Need To Start Day Trading?

This mainly depends on the cryptocurrency exchange that you're using: some exchanges have higher minimums than others. You also need to factor in your margin requirements, which can vary from exchange to exchange.

You could start day trading with as little as $10, but you can't expect to make a lot of money that way. When day trading, the higher your initial investment, the better.

What Are The Fees Associated With Crypto Day Trading?

Crypto day trading fees vary from exchange to exchange. Most exchanges charge a fee on each trade, as well as a fee for opening and closing positions. Some exchanges also have minimums or other requirements that you need to meet in order to use their services.

However, some crypto exchanges offer commission-free trading, which can save you a lot of money in the long run. This often comes with a higher spread rate, though, so be sure to read the fine print.

Want to earn $50 in the next 6 minutes?

CoinSmart is a highly-rated, fully regulated Canadian crypto platform that’s giving new users $50 for depositing $200 or more. Trade with low fees and withdraw your money at any time.

Click below to claim your $50 bonus today. Offer ends October 1, 2022.
CLAIM MY $50 BONUS
Offer ends October 1, 2022.