7 Best Crypto Exchanges For Day Trading

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Day traders need to find the right platform with the desired crypto pairs, markets, low fees, and liquidity to maximize trading opportunities. Here's our shortlist of the best crypto exchanges for day trading in the market:

1. Binance (best for low fees and liquidity)
2. Bybit (best charting and mobile app)
3. Coinbase (ease of use)
4. Kraken (best option for U.S day traders
5. KuCoin (best for altcoin day traders)
6. OKX (good option for day trading bots)
7. MEXC (well-balanced day trading exchange)

Our Picks For The Best Day Trading Crypto Exchanges

1. Binance

Binance is an excellent exchange for day traders due to the fees, deep liquidity, and sophisticated trading terminal. The mobile app is also excellent for placing and monitoring short-term trades while on the move. As for improvements, the exchange offering for the US market is limited. Binance.US does offer a spot exchange but is limited in the number of coins and does not have margin trading.

One of the most well-known and reputable trading platforms in the world, Binance is a behemoth in the cryptocurrency industry. Binance is the biggest exchange in terms of trading volume and liquidity across its spot and derivatives markets according to CoinMarketCap. This is one of the major reasons Binance is an attractive marketplace for short-term trading to profit from price movements.

Binance has more than 1,664 trading pairs across 391 supported coins that can be bought and sold on the exchange. The abundance of markets combined with deep liquidity separates Binance from its competitors. Moreover, Binance Futures which supports the derivatives market supports 198 trading pairs and has a staggering 40 billion in trading volume at the time of writing, nearly double its closest competitor. This means that traders do not need to pick certain times to trade crypto as Binance is consistently liquid.

In addition to the deep liquidity across its order book that results in low spreads and slippage, day traders can convert between digital currencies with a maximum fee of 0.1% per transaction. For day traders with high monthly trading volume, the fees can be reduced to as low as 0.0200% / 0.0400% for makers and takers respectively.

Related: How to reduce your crypto trading fees.

For example, a day trader with a 30-day volume exceeding 5 million and 100 BNB tokens can reduce the fee to 0.08% / 0.1%.

In terms of the fees on Binance Futures for margin and futures trading, the fees start at 0.02% / 0.04% using USDT as the base currency, or -0.01% / 0.023% with BUSD. Regular day traders that use the BUSD trading pairs will receive a 0.01% fee rebate for providing liquidity which is a great feature.

The other aspect of Binance that makes it a top choice for day traders is the advanced trading and charting terminal. Equipped with TradingView charts and a powerful matching engine, day traders can look for trading opportunities on smaller timeframes and overlay multiple technical charting indicators such as RSI, MACD, and moving averages.

Moreover, the order entry window features a range of order types such as limit, market, and stop-limit. There are risk management orders such as one-cancel-the-other that are commonly not found on competing exchanges.

Read our full Binance review and instructions on the Binance referral code.

2. Bybit

Bybit is a top place for day trading cryptos. There are no significant limitations and short-term traders have access to world-class trading tools and features. The crypto exchange has a straightforward platform for spot and leverage day trading with comparable fees and excellent liquidity. In our opinion, the charting platform on the desktop and app is superior when compared to rival exchanges.

Bybit is one of the most traded derivatives exchanges and is the 3rd largest derivatives platform behind Binance and OKX, at the time of writing. Even its spot exchange has become a popular environment to buy, trade, and sell Bitcoin and other cryptocurrencies providing an all-in-one solution for day trading. There is even a crypto copy trading platform that will enable day traders to share their trading strategies, or even follow other top crypto day traders.

Day traders have access to over 100 trading pairs to choose from. Moreover, Bybit is one of the best crypto margin exchanges due to its variety of markets to hedge a portfolio against volatility. The derivatives products offered are one of the largest selections and include USDT perpetual, inverse perpetual, inverse future, USDC perpetual, USDC options, and leveraged tokens.

Related: Where to trade crypto options?

As for the user experience, Bybit has an advanced, modern, and intuitive trading terminal that extends to its mobile app for Android and iOS devices. The availability of trading tools, indicators, and chart patterns for crypto markets that can be overlaid will suit a wide variety of day trading strategies.

The order types that can be used include a ‘limit order', ‘market order', and ‘conditional order' that offer good flexibility and control using price-based triggers. There is also the option to control the duration of each order using triggers such as Good Until Cancelled, Immediate Or Cancel and Kill Or Fill.

In particular, the advanced ordering system allows day traders to set up take-profit and stop-loss orders in one click from the order confirmation window with multiple order types and times in force. This is a great feature that is not available on Binance Futures for example. Moreover, there are multiple-chart modes to view different charts on the same screen and light & dark modes – small features that can make a big difference for day traders.

The fees on Bybit for spot day trading start at 0.1% and decrease with higher trading volumes for the month which is similar to Binance. For perpetual and futures trading, the transaction fees are 0.01% and 0.06% for makers and takers. In comparison to similar exchanges such as Binance, the fees are similar.

Read our full Bybit review and use our ByBit referral code to start with a deposit bonus.

3. Kraken

Kraken is an advanced cryptocurrency trading platform that is licensed within the United States and is a viable option for US-based day traders. Kraken provides a great option for day trading cryptocurrencies for individuals in the USA but also abroad. With its fees and reliable trading platform, Kraken makes this list of day-trading crypto exchanges.

With over 9 million customers worldwide and supported in 190 countries, Kraken is a serious contender when it comes to finding the best exchange for crypto day traders. Kraken supports margin trading for qualified traders and has a crypto-staking platform to earn passive rewards, which gives it an edge compared to other US-based platforms.

The crypto exchange supports more than 100 digital assets that can be bought and sold on a beginner-friendly platform or advanced trading terminal. Similar to Coinbase, a wallet can be funded with a minimal amount of fiat currency as little as $10. Focussed on simplicity, Kraken presents itself as a suitable option for individuals who are new to trading, while providing a sophisticated platform for frequent traders.

One of the perks of trading with Kraken is the accessibility to deep liquidity and stable pricing. While the trading volumes are not as high compared to the other international exchanges mentioned in this comparison list, Kraken would be second only to Coinbase for US trading volumes on its spot market. Kraken supports 151 cryptocurrencies that can be bought, traded, and sold against over 500 markets making it a cheaper Coinbase alternative.

To emphasize this point, the fees on Kraken are lower compared to Coinbase and Coinbase Pro. The starting fees on Kraken are 0.16% and 0.26% for makers and takers, compared to 0.6% and 0.4% on Coinbase Pro. Therefore, frequent crypto traders are better off starting with Kraken compared to Coinbase to save money on transaction fees.

While Kraken does offer a margin trading service to international users, there is a limitation for users within the USA. There are certain eligibility requirements that need to be met which may rule out many retail day traders.

Read our full review on Kraken.

4. Coinbase

Coinbase is a reputable and stable trading platform to get started in the world of cryptocurrencies. Coinbase provides a streamlined user experience and mobile app. Its availability in over 100 countries worldwide makes it a great option for anyone to create an account to learn how to day trade the crypto markets.

Headquartered in San Francisco, California, Coinbase is one of the best crypto exchanges in the US that can be used for day trading. Onboarding with the exchange is particularly easy with a variety of payment methods for different fiat currencies such as USD, GBP, EUR, and AUD. Funds can be allocated to a trading account using a credit and debit card but the fees are quite expensive at 3.99% for most regions.

When it comes to the selection of crypto-assets to trade, Coinbase supports 250+ cryptocurrencies that can be traded against several fiat currencies on its premium platform Coinbase Pro. The availability of crypto pairs to select for day trading is quite limited compared to other exchanges in this list. However, Coinbase has deep liquidity in its major pairs such as BTC/USD and ETH/USD, and is second only to Binance. The charting and trading exchange is purpose-built for stability and performance – exactly what day traders require when filling orders on the lower time frames.

Compared to Binance, the user interface on Coinbase is very simple. Even the advanced platform Coinbase Pro matches Binance on most features but is streamlined in its design with fewer complexities. Experienced traders will be able to take advantage of the order which also shows the market spread on each trading pair which is a great feature. On this point, the crypto trading spreads are slightly elevated when compared to Binance, particularly on the lesser-known altcoin pairs. Therefore, day trading the altcoin pairs can result in higher spreads using Coinbase compared to Binance for example.

Coinbase does not stack up so well compared to other day trading exchanges due to its trading fee. Aside from payment costs, day traders can expect to pay a fee of 0.05% to 0.6% for makers and 0% to 0.4% for makers. Depending on the pricing tier, the fees on Coinbase Exchange and Coinbase Pro are reasonable for higher amounts. However, the baseline fees of up to $10,000 are quite expensive. In short, Coinbase does not offer the lowest fees for day traders and are cheaper alternative that can be used.

Read our full Coinbase review.

5. KuCoin

With over 8 billion in accumulated trading volume and 600+ coins available to buy, trade and sell, KuCoin is an excellent platform for day trading in the cryptocurrency space. The exchange lists exotic coins and tokens that are not offered on other crypto exchanges which can present excellent opportunities for day traders and long-term investors alike.

Like most global cryptocurrency exchanges, KuCoin offers a wide range of products and services to long and short crypto on the intraday charts. These include a spot exchange, futures markets, margin trading, swap crypto with zero fees, staking rewards, borrowing, and lending services to earn interest on crypto assets. The offering of features brings appeal to KuCoin for day traders who have the flexibility to invest idle funds into other products to maximize their earning potential.

At the time of writing, KuCoin is the 5th largest exchange that comprises mostly altcoin trading pairs on the spot market. The top cryptocurrencies that are being bought and sold on KuCoin currently are Terra, ApeCoin and Dogecoin. Often referred to as the best altcoin exchange, traders are spoilt for choice with access to deep liquidity on emerging and popular altcoins other than Bitcoin and Ethereum. This makes KuCoin one of the best platforms for day traders with an eye on the altcoin markets.

When it comes to fees, KuCoin has a similar fee model to Binance with a maximum spot and futures fee of 0.1%. The trading can be reduced by holding the platform's native KCS token offers a 20% discount on the maker and taker fees. The fees are competitive in the market for trading between assets.

In short, KuCoin is a great exchange for day trading altcoins with an impressive selection of coins and pairs. Conversely, the trading volumes for its derivatives market are still developing and are better alternatives such as Binance Futures and Bybit. Moreover, KuCoin is currently not supported in the U.S. which is a major con.

Read our full KuCoin review.

6. OKX

OKX is a premium exchange for day trading crypto with an abundance of markets to gain exposure on with above-average liquidity (ranked 3rd for derivatives). It has a modern trading experience and comparable fees.

OKX offers a wide spectrum of innovative products and services. The platform is widely known for its reliability and the cutting-edge blockchain technologies on which it operates. There is a multitude of trading features and benefits including 366 supported cryptocurrencies that can be traded across 826 spot, futures, margin, and perpetual markets making it an ideal day trading platform for cryptocurrencies.

Given the available USDT futures markets, one feature that sets OKX apart is the ability to convert stablecoins 1:1 with zero fees or slippage. USDT, GUSD, USDP, and USDC are liquid trading pairs for margin and derivatives trading. This is advantageous for day traders and scalpers who will be able to switch between collateral at any time without cost.

Crypto-day traders are well-equipped with plentiful trading tools and features to maximize their strategies. Powered by TradingView charts, hundreds of indicators and patterns can be drawn. Moreover, risk management orders which are available include:

• Limit
• Advanced Limit (Post Only, Fill Or Kill, Immediate Or Cancel)
• Market
• Stop Limit
• Trail
• Iceberg
• TWAP

As for the fees, OKX is comparable in the market. Spot fees start at 0.08% and 0.10% which is on par with the likes of Binance and Bybit. For active crypto traders, the derivatives market fees start from 0.02% and 0.05% for makers and takers respectively.

Read our full OKX review.

7. MEXC

One of the best aspects of MEXC for day traders is the listing of 1,588 crypto assets and 2,500+ trading pairs in total at the time of writing. The abundance of markets to trade enables ample opportunity to find short-term opportunities. Those looking to diversify their leveraged trading account can do so with excellent flexibility. Moreover, there is a crypto demo account to test out day trading strategies on MEXC without risking any assets.

Another reason MEXC makes this list of day trading exchanges is the ability to supplement short-time positions with exposure to EFTs to hedge against any sudden volatility. There are over 1,000 cryptocurrencies with up to 5X leverage. The Index ETFs include the Grayscale Index, Major Crypto Index, and DSA Index, among others.

MEXC is comparable to Binance, Bybit, and KuCoin when it comes to day trading fees. futures derivative trading also starts at a minimal transaction cost of only 0.02% and 0.06% for makers and takers respectively which is good value for money. Overall, MEXC does a lot of things right and crypto day traders will have a lot to like about the platform.

Read our full MEXC review.

Best Crypto Day Trading Platforms Compared

The table below compares the best options for day trading in the cryptocurrency market based on the number of supported assets and fees. For a detailed assessment of each crypto exchange, click on the links to read the individual reviews.

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
ByBit	331 (608 trading pairs)	0% (spot), 0.06% / 0.01% (futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	0% trading fees for 30 days (spot only)	Visit ByBit	ByBit Review
Kraken	222	0.16% (maker) and 0.26% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	None available at this time	Visit Kraken	Kraken Review
Coinbase	241	0.4% (maker), 0.6% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$5 BTC bonus (USA only)	Visit Coinbase	Coinbase Review
KuCoin	806	0.1%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.6 / 5	Up to 500 USDT in bonuses	Visit KuCoin	KuCoin Review
OKX	349	0.08% (maker) / 0.10% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.4 / 5	None available at this time	Visit OKX	OKX Review
MEXC Global Exchange	1521	Spot: 0% (maker) / 0.2% (taker), Futures: 0.02% (maker) / 0.06% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.3 / 5	10% discount on trading fees	Visit MEXC Globa…	MEXC Global Exch…

What Is Cryptocurrency Day Trading?

Crypto-day trading usually involves speculating on the lower timeframes with larger position sizes to profit from short-term price changes throughout the day. The average trade duration can be a matter of a few seconds for crypto scalpers, to several minutes or even hours for a trade to unfold in the desired direction. The opposite is true for swing traders and long-term position traders or investors who can hold positions open for days, weeks, or months. Given the fast pace of the strategy, day trading crypto carries a high degree of risk and is not suited for beginners or inexperienced traders.

What To Look For In A Day Trading Exchange?

For individuals who are adapting a cryptocurrency trading strategy to the intra-day charts, or is an experienced day traders already in the traditional markets, finding a suitable crypto platform is imperative. There are several considerations to take on board which we have assessed in this article – but include:

• Markets and trading pairs. Day traders must be actively in positions to make potential profits each day. Therefore, the selected crypto exchange for day trading should support a wide range of markets, coins, and trading pairs to maximize the number of opportunities. This can include a combination of spot and derivatives markets or a wide range of altcoins for instance.
• Volume and liquidity. Day trading usually involves higher putting up higher amounts of capital on a trade or margin for a leveraged position. In these instances, finding an exchange with deep liquidity is important to reduce the amount of slippage to fill an order at the desired price. The liquidity in the order book can vary from exchange to exchange, so using a resource like Coinmarketcap is helpful to find an exchange with the highest trading volume for a particular trading pair.
• Fees. Given the large number of trades that can be executed on a given day, it is crucial to use an exchange with the lowest fees. Excessive fees can eat into the potential profits each day and lead to a lower profit and loss at the end of the trading month. Several crypto exchanges offer fee discounts for staking the native platform token, increasing the monthly trading volume, or simply using limit orders that provide liquidity to the exchange.
• Stable trading platform. During periods of high volatility and trading volumes, some exchanges are known for experiencing technical difficulties and downtime. This can cause anxiety for day traders with open positions. Therefore, finding an exchange that is available near 100% and advises of future planned maintenance periods is very important.
• Risk-management orders. While volatility can be a day trader's best friend, sudden price movements can also cause significant losses especially when trading crypto with leverage. As such, using an exchange that supports several risk management orders such as stop-limit, one-cancels-the-other is advantageous. On derivatives platforms, drag-and-drop charting on exchanges such as Bybit to set a take-profit and stop-loss order should be sought after.
• Responsive mobile app. Sometimes it is not feasible to monitor active positions all the time, therefore using an exchange with a mobile app that is supported on a wide range of devices is useful. At the minimum, the trading app should be supported on iOS and Android devices. Moreover, the functionality such as basic navigation, depositing crypto, placing orders, and monitoring open positions should be seamless, intuitive, and responsive.

Frequently Asked Questions

How We Picked These Exchanges

The methodology used in this comparison article involved a comprehensive review process. This included creating a verified account, depositing funds, placing trades, and withdrawing funds with each provider to gain a complete understanding of the overall user experience.

We then evaluate, score, and rate each exchange based on our specific in-house assessment criteria and assign an overall star rating out of 5 points. For more information on the categories examined when comparing the best day trading platforms, read our exchange review methodology process.