There are two major types of trading platforms available for traders to profit from the emerging crypto market’s movement. The first and most commonly used is an exchange where people can buy, sell, or trade cryptocurrencies for one another. The other type is a brokerage, where people can use leverage and more advanced trading strategies to enter long and short positions in order to speculate on a cryptocurrency’s price going up or down against the US dollar.

Both exchanges and brokerages have their place and distinct advantages and disadvantages in comparison to the other. Traders will pick and use one or both types of trading platforms depending on their specific needs and goals.

Some key factors to consider when deciding where to trade are:

Commission fees

Usability

Liquidity

Reliability

Security

Available assets

Features and tools

So based upon this, which is the best crypto exchange and which is the best crypto brokerage, and why? Also, what is one’s advantage over the other?

#1. Crypto Exchange — Binance

Binance has an excellent reputation for safety and security, ranked as one of the most popular cryptocurrency exchanges worldwide. The platform features a wide array of available altcoins, with Bitcoin, Ethereum, Tether, and the native Binance coin (BNB) as pairing options.

This vast range of available assets is the main advantage of Binance over a brokerage trading platform, which will typically offer only a limited selection of crypto assets. However, there is no way to profit from falling markets on Binance as a sell order can’t increase profits, it only protects the trader’s capital from dropping once executed. This makes Binance better suited for long term investment trading and/or profiting from market rallies and bull runs.

The Binance interface is renowned for being user-friendly and reliable, featuring the option to utilize either a basic or an advanced screen display and workspace. The advanced display is somewhat more complex, offering further in-depth technical analysis capabilities.

Binance is consistently ranked in the top 10 exchanges for the highest liquidity and offers competitively low fees. The platform takes just 0.1% commission fee on all trades under $40,000 + a further 25% discount for using the BNB token to cover these fees; which is significantly less than their direct competitor Coinbase, who’ve recently further increased their total fees by 33%.

#1. Crypto Brokerage — PrimeXBT

Prime XBT is a relatively new player in the crypto scene, nevertheless a formidable and impressive trading platform that’s in increasingly high demand due to the more profitable opportunities it provides to earn in both rising and falling markets. This is made possible with the ability to ‘short-sell’ crypto assets, in addition to buying (‘going long’), so to profit from predicting and betting on an asset’s decrease in value.

Without a doubt, the most sought-after feature offered by Prime XBT is its adjustable leverage of up to 100x, meaning that positions and profits are increased by as much as 100x. This industry-leading 100x leverage is available to all listed assets, as opposed to their direct competitor Bitmex — which offers 100x to Bitcoin only and significantly less on other altcoins.

Trading with high leverage is an advanced strategy that naturally comes with greater risk (increased risk = increased reward). In order to minimize a trader’s loss potential, Prime XBT also features stop-loss, OCO, and protection orders — in addition to basic limit and market orders.

Despite having only launched early this year the platform’s liquidity is incredibly high, averaging $100,000,000 in daily trading volume — on track to surpass $250 billion over the next 6 months. The platform effectively aggregates its liquidity from 12 different providers, so traders get the best price across all leading exchanges, in real-time and instant order execution.

The Prime XBT interface is clear, smooth, and highly customizable for the ultimate user experience, it’s even fitted with optional multi-monitor support for high-level traders.

Last but not least, Prime XBT employs the industry’s safest and best security practices, alongside the crypto market’s lowest commission fees- at only 0.01% on all available assets (BTC, ETH, LTC, XRP, and EOS).

Conclusion

As cryptocurrency becomes the world’s hottest emerging technology, Binance has a sterling reputation and a wide array of crypto-assets to ‘buy low and sell high’ in market rallies, or to hold/invest for the longer term; whereas Prime XBT allows for more profitable opportunities in the short term to trade 365 days a year with 100x potential.

Prime XBT benefits as the newcomer, with the advantage of having learned from the successes and mistakes of their predecessor crypto exchanges, in addition to the founding team’s vast experience in managing professional forex and equity portfolios. This allowed them to meet the need of the many crypto traders, limited by the lack of quality brokerages that allow for profit in bearish and flat trending markets.

A savvy trader would be wise to alternate between the two types of trading platforms, depending on the market’s activity or inactivity so to maximize even the smallest price movements with leverage — or, to ‘hodl’ in anticipation of crypto’s rise.

Binance website: https://Binance.com

PrimeXBT website: https://PrimeXBT.com