Not all crypto platforms provide access to the same level of tools to trade with. For example, Coinbase only allows users to buy and sell crypto assets, while margin trading platforms such as ByBit, Binance, and PrimeXBT allow long and short positions, which can be used to trade cryptos. with leverage or spot crypto assets.
Due to the recent bear market, these tools have become increasingly important for traders to stay successful, stay profitable, and keep their capital well protected. From these top three platforms, a winner has to be chosen. Which of these brands offers the best all-around margin trading platform?
What is margin trading and how does it differ?
Simply buying and holding crypto assets during a bull market can result in a positive return on investment. But the only way to profit from a trend change to crypto winter is to sell your crypto assets and buy back at the low. The idea is much more difficult in practice.
With margin trading, long and short positions give traders flexibility and control over the trend, whether it is up, down or even sideways. Margin trading also allows those who buy and hold crypto to avoid selling assets while earning money and protecting capital during a downtrend.
The Margin Trading Showdown: ByBit Vs. Binance Vs. PrimeXBT
For this article, we ignore the bells and whistles each platform might offer, such as access to NFTs, DeFi, or trading education. Even official blogs are irrelevant. For this comparison, all we care about is which trading platform performs best, time and time again.
PrimeXBT is an award-winning margin trading platform with up to 99.9% uptime, ensuring traders never miss a beat even when the most powerful volatility hits. There is never any slippage and orders execute at the price you want when you want.
ByBit is also known for its smooth-running platform that rarely experiences downtime. ByBit has grown in popularity in recent years and now offers leveraged tokens and options in addition to margin trading.
PrimeXBT is best known for allowing crypto holders to use their assets as collateral rather than selling while gaining access to up to 200x leverage on major cryptocurrencies like Bitcoin, Ethereum, Dogecoin and others. The brand also offers long and short positions and stop-loss protection on traditional assets such as stock indices, commodities, metals and forex.
ByBit achieves 100x leverage on Bitcoin and up to 50x on more volatile cryptocurrencies. If you’re from the US, you’re stuck with only 5x max. There are also leveraged crypto tokens with a maximum leverage of 2-3x.
Binance at one point offered up to 125x leverage on cryptocurrencies, but has since gone back to 20x. It also now offers leveraged tokens with varying degrees of leverage. However, neither Binance nor ByBit provide exposure to traditional markets, which is very attractive during the current crypto winter.
Conclusion: PrimeXBT is the best margin trading platform today
While PrimeXBT, along with the other platforms, also offers many other bells and whistles, such as copy trading, education, weekly competitions, and a free mobile app, PrimeXBT gets the overall green light by because of the focus on its core business product.
In a difficult and volatile market environment, these platform extras become less profitable, and it always comes down to what really matters: the trading tools and the list of available instruments. This is where PrimeXBT simply cannot be beaten, which is why we have selected it as the best margin trading platform of the bunch.