Margin trading in cryptocurrency has initially been used by the most veteran and expert cryptocurrency traders to make a profit, and profit is what it made for them.
But now things have changed as many businesses have simplified the process enough so that the most basic of traders can earn leverage in their trades.
By using leverage, traders can turn minor profits into major gains. For example, if the initial margin is 0.1 BTC and the leverage 100x a person can earn around ten thousand dollars ($10,000) if Bitcoin’s price rises by ten percent (10%).
Another benefit of the trading platforms that allow the utilization of leverage is that they allow people to profit even when the market is down or has crashed recently. This means that for a volatile asset like cryptocurrencies, it would provide double opportunities for people to profit from.
Fortunately, in this day and age, there are many platforms that allow this kind of margin trading. Here are some of the most notable ones.
Although StromGain was only launched this year, the platform brings a lot to the table with an extensive set of features that can hardly be rivaled anywhere else.
StormGain allows users multipliers up to 100x but what sets it apart is the user interface that makes it the easiest operating margin trading platform. Moreover, unlike other platforms, StormGain offers a high level of customer privacy.
Even so, the cryptocurrencies offered by the platform are limited to five included Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).
BitMEX provides a wide range of cryptocurrencies as well as boasts the ability to support huge volumes of transactions. BitMEX was launched back in 2014 and has come a long way ever since. It holds the title of being the first major platform of allowing leverages up to 100x.
Five years later the platform now offers a wide array of cryptocurrencies as well as perpetual contacts and expiry futures for some. The platform is also known for the high liquidity it provides.
Other honorable mentions include:
A platform that allows the trading of a variety of assets include stock indices, forex, and commodities all with leverage up to 1,000x. The platform can be accessed through various languages.
This platform focuses on providing excellent services for its futures of ETH and BTC, including perpetual futures and variety of expirations.
eToro was launched in 2006 and has become the most extensive trading platform available today. The platform allows trade of CFDs, cryptos, commodities as well as a whole list of other financial instruments.