The Most Trusted Platforms To Trade Crypto With Leverage
The cryptocurrency platform FTX became popular during the crypto bull market due to offering trading Bitcoin, Ethereum, and other altcoins with leverage. The company grew so popular it began to collaborate with celebrities and even purchased Miami’s American Airlines Arena, renaming it the FTX Arena.
The problem is FTX poorly managed its finances, took too many risks, and now faces insolvency. In a wild twist of events, the poster child for crypto trading became the face of evil in a flash. It has raised significant questions about the legitimacy of other platforms, mainly because FTX isn’t the first this has happened to, and unfortunately won’t be the last.
What Trusted Margin Trading Platforms Remain?
Where is a crypto trader to turn, then? In this list, we outline the most trusted platforms to trade crypto with leverage that has been proven reliable.
PrimeXBT
Launched during the last bear market, PrimeXBT has all the tools necessary to stay profitable and protect capital during a downtrend. In addition to long and short positions on cryptocurrencies with up to 200x leverage, PrimeXBT also provides exposure to traditional assets like gold, oil, stock indices, and forex to allow for strategic hedge positions and a diverse portfolio of negatively correlated assets.
More than 100 different trading instruments are offered using a single margin trading account that also enables access to the Covesting copy trading module, the PrimeXBT Trading Academy educational website, weekly trading competitions with PrimeXBT Contests, and many other cryptocurrency-based products and services.
The Covesting copy trading module is in partnership with the DLT-licensed software developer of the same name. There has never once been a scandal or a hack, and PrimeXBT itself has received a number of industry awards and is trusted within the trading community.
ByBit
ByBit is another company that launched during the last crypto winter and is still active today. ByBit provides cryptocurrency trading with up to 100x leverage through perpetual swaps, in addition to crypto futures, options, and levered tokens.
The margin trading platform is cryptocurrency-only but does include some Web3 features and an NFT marketplace. ByBit also offers trading bots, an earn program, and crypto loans using tokens you hold.
Phemex
Phemex is another margin trading platform in the crypto space offering some similar experiences as the names we’ve already listed thus far. For example, Phemex has an earn program much like ByBit and features a copy trading module and an educational platform much like PrimeXBT.
Phemex also lets users buy crypto, trade spot assets, or contracts with up to 100x leverage. Again, there are no traditional assets here, but Phemex is trusted in the crypto community. They also offer a launchpad program to let crypto users get in on new tokens early.
Margex
Margex is a relative newcomer in the margin trading space but is proving reliable. It continues to add new features and expand its lineup of digital currency trading with up to 100x leverage. Again, there are no traditional assets, but Margex offers a unique trade while staking feature, where users can use a staking balance to margin trade.
By using the staking balance as collateral to trade Bitcoin, Ethereum, and other top cryptocurrencies, daily reward payouts in crypto go back to the staking balance, compounding returns and increasing margin allocation. Margex also recently launched a crypto alerting tool.
Maximize Profitability and Protect Capital With Margin Trading Platforms
Margin trading platforms provide investors and traders a place to speculate on cryptocurrencies and strategically hedge against risk and diversify spot positioning in a crypto portfolio. Long and short positions provide more flexibility overall.
An essential part of margin trading platforms is the fact that you only need to deposit a small amount of capital, and leverage multiplies that capital to much larger position sizes. This way, you can keep less overall money on any platform yet still remain well-exposed to the market without putting all of your capital on the line in any one place.
If you are seeking a margin trading platform after the recent crypto market meltdown due to the situation with FTX, then stick to one of the trusted margin trading platforms above.
Disclaimer
This article is a paid publication and does not have journalistic/ editorial involvement of CoinGape. CoinGape does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein. Do your market research before taking any actions . The author or the publication does not hold any responsibility for your personal financial loss.
