Trading on the crypto futures market needs the right skill set and a platform to survive in the market. A platform that allows you to not over-leverage your positions and ultimately get REKT. So here are some of the best crypto futures trading exchanges:
Table of Contents
Summary
| Platform | BYDFI | Binance | ByBit | dYdX |
|---|---|---|---|---|
| Headquarters | Singapore | Seychelles | Singapore | San Francisco |
| Transaction Fees | 0.05 % | 0.015 – 0.1 % | 0.1 % | 0.02 – 0.10 % |
| Fiat Deposit | YES | YES | NO | NO |
| Maximum Withdrawal | 100,000 USDT | $ 7,500,000 | 500 BTC/Day | $200,000 |
| Mobile App | YES | YES | YES | YES |
| Easy to Use | Easy | Moderate | Moderate | Easy |
| Customer Support | YES | YES | YES | YES |
What are Crypto Futures?
Crypto futures enable you to buy or sell a digital asset market without actually owning it. Instead, the value of crypto futures is generated from the underlying digital assets, such as Bitcoin or Ethereum. Moreover, such contracts have a predetermined expiration date and price.
The expiration date is used to identify futures contracts. The trader will close it with cash when the contract is about to run out or has already expired. They are used to shield against crypto asset price fluctuations and extreme volatility.
Also read, 3 Best Futures Trading Bots | Future Bot
BYDFI: 1st Best Crypto Futures Trading Exchange
BYDFI is a crypto trading exchange that provides a secure, simple, and quick trading experience in more than 150 countries worldwide. As a result, customers can expect a simplified trading experience from the cryptocurrency trading exchange. It is a Singapore-based cryptocurrency exchange that offers derivatives products in the cryptocurrency market that could be traded with up to 100x leverage.
Also read, BYDFI Review: Is it Safe or Legit?
Key Features:
- Low Minimum Deposit: The minimum deposit is only $5 USDT.
- The registration process is quick and straightforward.
- Decrease transaction fees or earn more cryptocurrencies by trading with BYDFI coin BYD.
- Enhanced copy trading system with best traders from all over the world.
- With over 500,000 users in over 150 countries, BYDFI has a global presence.
- For Android and iOS devices, it has a mobile trading app.
Also read, BYDFI Margin Trading | An Ultimate Guide
BYDFI Fees
Once an order is opened and closed, BYDFI charges a 0.05 per cent transaction fee. In addition, an overnight fee may be charged for positions held for more than 12 hours. The fees are reasonable when compared to several other crypto trading exchanges. BYDFI does not charge a deposit fee to transfer cryptocurrency or fiat currency.
Please see here for a total breakdown of the fees involved in using the platform.
Also read, BYDFI Copy Trading – An Ultimate Guide
Is BYDFI Safe?
According to BYDFI’s website, the platform employs several safety measures to protect users’ funds from theft and fraud. In making any transaction from the BYDFI exchange, users must first set up a Pin. Then, each time a user withdraws money, they must enter their Pin. Two-factor authentication (2FA), multiple offline verifications, cold storage of assets of clients, real-time risk assessment audit, and a full refund guarantee are among the security features.
BYDFI Ease of Use
BYDFI has a straightforward and user-friendly interface. The BYDFI platform’s trading interface is well-equipped with features and functionalities, as well as a pleasant user interface. BYDFI ensures that new users are not intimidated by the platform.
BYDFI Customer Support
BYDFI provides guidance and support to its clients 24 hours a day, seven days a week. Email, social media, and a live chatbot are all options for communicating with the BYDFI team. Users can also look up answers to frequently asked questions in the extensive FAQ section.
2nd Best Crypto Futures Trading Platform: Binance
Binance is a Seychelles based cryptocurrency exchange that started operating in July 2017. The exchange has millions of users from all over the world and is frequently praised as the best trading platform in exchange reviews and social media. People can purchase, trade, sell, earn, stake, and quickly swap digital assets on a user-friendly and simple-to-use platform.
Binance is renowned for possessing one of the widest selections of trading pairs and cryptocurrencies available for exchange, as well as the ability to securely store electronic funds in a wallet and collect interest on crypto in a Binance savings account.
Also read, Binance Card Review: Is This the Best Crypto Card?
Key Features:
- Binance offers many different trading options, such as peer-to-peer, margin and spot trading.
- Binance is one of the world’s largest cryptocurrency exchanges. It provides users with more than 370 currencies and many trading pairs to choose from. Decentralised finance (DeFi) tokens, stablecoins, Bitcoin (BTC), and altcoins are all examples of this.
- Due to cheaper fees, traders can keep their earnings and investments.
- The Binance mobile app is supported on both iOS and Android devices.
Binance Fees
The trading fees at Binance are comparatively lower than the fees and commissions charged by even the highest-rated crypto exchanges. For example, the most expensive spot trading commission is 0.1 per cent.
Binance does not require payment for depositing crypto assets. As a result, users can send coins from other trading platforms to Binance entirely for free. Similarly, there are no fees associated with withdrawing assets from the Binance wallet to a third-party website or wallet. The only charge is the blockchain fee, set by the network congestion at the transaction time rather than Binance.
Binance Safety
Binance is one of the most secure and reliable exchanges globally, with multiple levels of ‘bank-like’ security procedures and management protocols to ensure its customers’ personal information and funds. It has a two-factor authentication system, including hardware, app-based, SMS, and email options. In addition, security features such as IP whitelisting, API access restriction, wallet address whitelisting and device management with enhanced access control are also available to users.
Also read, KuCoin vs Binance: Read this before choosing [Important]
Binance Ease of Use
Binance is a complex and advanced platform to assist experienced traders in maximising profits. However, if you’re new to crypto investing, its vast market selection and detailed dashboards may be intense and challenging to navigate.
ByBit: 3rd Best Crypto Futures Trading Platform
ByBit is a cryptocurrency derivatives trading exchange that concentrates on leveraged crypto trading, offering up to 100x leverage. In addition, the derivatives exchange provides perpetual contracts based on the spot price of a cryptocurrency rather than the actual cryptocurrency asset.
Bybit is a British Virgin Islands-registered trading exchange with its headquarters in Singapore. Traders from all across the world can use the platform.
Key Features:
- Up to 100x leverage: Bybit allows you to trade cryptocurrencies with 100x leverage. Because leveraged trading increases the potential trading rewards (and losses), experienced traders can make a lot of money and increase the risk.
- In the case of a liquidation, ByBit has a clause called the “Insurance Fund,” which reduces the risk of auto-deleveraging.
- Bybit has an impressive range of resources, headlines, and insights for traders of all levels. “Bybit Learn,” for example, explains how to use tools and interpret chart patterns.
- Bybit claims to process 100,000 transactions per second, far outnumbering its competitors. It takes every precaution to prevent any server downtime.
- On Android and iOS devices, Bybit offers a great mobile trading platform that is highly intuitive, simple to use, and responsive.
Also read, Bybit vs Coinbase
ByBit Fees
Trading, withdrawal, and deposit fees are the three types of fees to be aware of. Bybit levies a maker/taker fee for trading. Whether you’re adding or picking up liquidity out from the market will determine this.
To deposit cryptocurrency to the exchange, Bybit does not charge a fee. However, withdrawing funds from Bybit incurs a minimum Bitcoin network fee, which would be calculated by the blockchain network load, which is generally around 0.0005 BTC.
Also read, A Guide to Bybit Margin Trading
ByBit Safety
Bybit appears to be a safe leveraged trading platform with bank-like security and operational procedures in place to protect clients’ funds. The exchange has never really been hacked or compromised, according to our research. The safety measures include offline cold wallet backups, multi-signature withdrawals, and two-factor authentication.
ByBit Ease of Use
When you first enter into Bybit, you’ll notice that the exchange interface is exceptionally well-designed, with advanced features that are visually appealing.
The top bar is static and contains links to the ‘Trade’ window, your ‘Assets,’ and a ‘More’ dropdown containing links to various Guides and FAQs.
ByBit Customer Support
The extensive set of guidelines and blogs in the Bybit FAQ section, which covers a wide range of topics, is a thing that stands out.
Users can simply contact the customer support team using the Zendesk live chatbot if they can’t find the answer to a question here or on the Bybit blog.
dYdX: 4th Best Crypto Futures Trading Platform
dYdX (dYdX) is a decentralised cryptocurrency leverage trading platform for BTC, ETH, SOL, DOT, and other assets. dYdX was established in 2017 by Antonio Juliano, a former Coinbase engineer, drew immediate investor interest.
The Ethereum blockchain hosts the majority of dYdX’s crypto margin trading products. Although, the exchange recently launched Layer 2 for low-cost, and instantly settled trades.
dYdX raised the bar by introducing margin and perpetuals for various cryptocurrencies. Furthermore, to decentralise the entire trading experience, it also incorporated lending and borrowing services.
Key Features:
- Signup is quick and anonymous, and it takes less than five minutes to create an account.
- Tutorials are available to help you study the system and improve your trading skills.
- Trades are instantly executed and approved on the blockchain in hours.
- Users have access to leverage through all positions in multiple markets from a single account.
- The app, website and desktop experience all deliver high-quality results.
dYdX Fees
For perpetual trading, dYdX does not charge any fees. However, depending on volume, charges for other trading activities range from 0.02% (maker) to 0.10 per cent (taker).
The addition of the dYdX token has also introduced a trading charge discount component to perpetuals trading, with users receiving anywhere from a 3% to a 50% rebate depending on their current dYdX balance.
dYdX Safety
Because dYdX is decentralised, users’ resources are sealed into intelligent contracts rather than just being held by an exchange, making it highly safe to use. So the one and only risk you face when using dYdX are that you will make a bad trade.
dYdX Ease of Use
It receives high ratings for its user-friendly mobile web application and informative website. It is user-friendly and straightforward to operate, even for a novice. The platform’s additional advantage of secrecy in trades improves your trading even more.
dYdX Customer Support
The dYdX website contains all of the necessary information and practical tutorials. Responses to frequently asked questions about registration, fees, and liquidity can be found on the Help Center and FAQs page. dYdX provides prompt email support. In addition, the safe live chat function is very effective.
GMX: 5th Best Crypto Futures Trading Platform
GMX.io is a DEX that is built on Arbitrum and Avalanche. Users can trade their BTC, ETH, AVAX, and other top cryptocurrencies with up to 30x leverage directly from their wallet. It is also supported by a multi-asset pool that earns liquidity providers fees from market making, swap fees, and leverage trading. In addition, its dynamic pricing is supported by Chainlink Oracles and an aggregate of prices from leading volume exchanges. As of now, there are two tokens in the GMX.io ecosystem:
- GMX: The utility and governance token accrues 30% of the platform’s generated fees.
- GLP: It is the liquidity provider token that accrues 70% of the platform’s generated fees.
GMX Security
GMX.io is only audited once by ABDK Consulting. Here is the link to the complete audit by the ABDK team. GMX.io Team has also created bug bounty on Immunefi, which has been live since January 2021. Rewards are distributed to white hat hackers based on the severity of the vulnerability. This bounty program focuses on preventing Direct theft of any user funds, Permanent freezing of funds, Insolvency, Unable to call smart contracts, etc., and much more.
Conclusion
We have chalked down five of the best Crypto Futures Trading platforms. These platforms will surely make your life easy by assisting in the necessary steps in trading crypto futures. BYDFI can be your destination if you’re looking for an all one futures trading exchange.
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