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Best Day Trade Crypto Platforms

This guide explains you everything you need to know about day trading crypto. We start by looking at the best day trading crypto platforms and listing the best cryptos to day trade as well as some tips of crypto day trading strategies.

We also provide you with a step-by-step guide to day trading cryptos on one of the best crypto exchanges.

Best Day Trading Crypto Platforms Today

The first step to day trading crypto is choosing the best day trading crypto platform. Our analysts vetted multiple cryptocurrency trading platforms. Ultimately, they settled on the following as the best crypto exchanges for day traders.

  • eToro Overall Best Crypto Exchange for Day Trading
  • KuCoin Best Day Trading Crypto Platform for a Wide Range of Coins
  • Binance – Best Day Trading Crypto Exchange for Deep Liquidity
  • ByBit – Best Day Trading Crypto Platform for Low Fees
  • Coinbase – Most Beginner-Friendly Crypto Platform for Day Traders
  • Crypto.com – Top Crypto Day Trading Platform for Fast Transaction Processing

Below, we provide you with a brief overview of all these altcoin exchanges. Read on to learn why they are the ideal day trading crypto platforms.

Best Day Trading Crypto Platforms Reviewed

When searching for the best day trading crypto platform, our analysts considered a number of factors. First was the number of supported crypto, fees, and commissions. They also considered the platform’s liquidity, user-friendliness, and integrated trading and risk-management tools.

Here is an overview of the best crypto exchanges for day trading today.

1. eToro – Overall Best Crypto Exchange for Day Trading

Among the factors making eToro the best day trading crypto platform is the support for many trading markets. For starters, eToro supports more than 70 of the next cryptos to explode. Of these, you can day trade more than 40 cryptos that are paired with the US Dollar.

You also get to interact with several crypto-only trading pairs. These include ETH/BTC, BTC/XLM, EOS/XLM, ETH/EOS, and more.

Day Trading Crypto Platform

eToro also tops this list because it maintains highly competitive crypto trading fees. Note that, unlike most crypto brokerages, eToro is a spread-only platform. This implies that it doesn’t charge a commission. The trading fees are also fixed – at 0.75% per for both buy and sell orders. We add that since eToro is a brokerage, not an exchange, it is faster in transaction processing. This goes a long way in minimizing slippage.

We also consider eToro to be the best day trading crypto exchange because of its affordability. This extends beyond fees to trading minimums. You, for instance, only need a balance of $10 to start ay trading cryptos on the brokerage.

This deposit can be made via such popular fiat payment options as credit cards and debit cards. You can also deposit into eToro via eWallets like PayPal and Skrill, ACH transfers, and bank transfers. The deposits are free and processed instantly.

eToro best crypto wallets

 

Other factors helping the eToro crypto brokerage make it here include its demo account and copy trading features. These make day trading accessible to beginner crypto investors. A free demo account presents them with a safe platform for practice trading. Copy trading, on the other hand, lets them earn by mirroring trades of highly successful traders on their platform.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

2. KuCoin – Best Day Trading Crypto Platform for a Wide Range of Coins

KuCoin has been consistently named among the best crypto exchanges in the world. It is a feature-rich trading platform famed for such attributes as its user-friendliness and low fees. KuCoin day trading crypto exchange also supports one of the widest ranges of cryptos – more than 700 and 1200+ crypto pairs.

Invest in Bitcoin Via Kucoin

The exchange KuCoin features both fiat-to-crypto and crypto-to-crypto trading pairs. Some of the most popular trading pairs are BTC/USDT, ETH/USDT, BNB/USDT, SOL/USDT, BTC/ETH, and DOGE/USDT.

KuCoin also makes it here because it charges relatively low crypto trading fees. Both buy and sell orders are subjected to competitive and volume-based maker/taker fees. These are fixed at 0.1% if your trades for the month are less than 50 BTC.

The fee then ranges between 0.1% and -0.005% for trades whose monthly turnover ranges between 50 BTC and more than 80,000 BTC. Note that all KuCoin traders enjoy a 20% discount on fees if they pay using KCS tokens.

In addition to a diverse selection of cryptos, KuCoinn is one of the most liquid crypto exchanges. It has consistently ranked among the top 10 most liquid exchanges. In 2023, for instance, its daily trade volume averaged $250+ Million. This makes it the best day trading crypto platform as it means your trades are filled quickly with minimal slippage.

Several other factors make KuCoin the best place to buy Bitcoins and trade popular cryptos. These include its user-friendly interface, commitment to security, and integration of advanced trading tools. These include custom charts, technical indicators, and risk management tools. KuCoin also supports crypto derivatives (futures and options), trading bots, and even margin trading with leverage of up to 5X.

3. Binance – Best Day Trading Crypto Exchange for Deep Liquidity

Launched in 2017, Binance has already welcomed 150+ million users in 200+ countries. This makes it one of the most popular crypto exchanges in the world. A few factors also make it the best day trading crypto platform. These include its deep liquidity, low fees, user-friendliness, and integration of advanced trading features.

Binance Crypto

At the time of writing, Binance supports close to 400 coins and 1000+ crypto trading pairs. Most of these are crypto-only pairs, with the most popular being BTC/USDT, BTC/TUSD, BTC/ETH, ETH/USDT, and DOGE/USDT.

When trading any of these, you will pay a competitive volume-based maker/taker fee. These range between 0.1% and 0.024% -based on your 30-day BTC trading volume. Note that Binance is one of the few crypto exchanges that do not charge a transaction fee for the BTC/ISDT pair.

Binance Platform

Binance also makes it here because it makes it here because it lets you trade derivatives. In addition to trading crypto pairs, you may also day trade such crypto derivatives as futures and options. You can even margin trade cryptos on Binance, with leverages of up to 5X.

Additionally, Binance makes it here because it integrates a wide range of advanced trading tools. These include a range of trading bots, risk-management tools, technical indicators, and even copy trading tools.

4. ByBit – Best Day Trading Crypto Platform for Low Fees

ByBit consistently ranks among the top 10 crypto exchanges. It also supports the most diverse range of crypto assets – as many as 440 coins and 500+ pairs. In addition to these crypto pairs, ByBit lets you trade crypto derivatives – options and futures. You can also margin trade crypto on the exchange with leverages of up to 5X.

Bybit crypto exchange

ByBit also integrates multiple secondary markets from the DeFi ecosystem. On these platforms, you can buy and sell thousands of tokens and new cryptos. Not forgetting that ByBit also operates a peer-to-peer crypto trading platform. This lets you buy and sell crypto using hundreds of local payment options and currencies at zero fees.

ByBit is quite transparent with the crypto trading fees on its platform. Non-VIP trading fees are, for example, fixed at 0.1% – both buy and sell orders. Spot crypto trades are VIP-level based and range between 0.06% and 0.005%. Crypto to fiat pairs are also volume-based, with the maker/taker fee ranging between 0.2% and 0.025%.

But these aren’t the only things making ByBit the best day trading crypto exchange. It also makes it here because it integrates a wide range of highly advanced trading tools. These include trading bots and support for third-party trading platforms like MT4.

ByBit is also home to advanced analysis and risk-management tools. Not forgetting that it not only encourages copy trading but recently introduced the AI-powered TradeGPT.

5. Coinbase – Most Beginner Friendly Crypto Platform for Day Traders

Coinbase is one of the oldest and safest crypto exchanges in the world. The US-based exchange is also wildly popular and has been ranked among the best beginner-friendly crypto exchanges. Coinbase is also deeply liquid and holds some of the deepest Bitcoin reserves. It makes it to our list of top crypto trading platforms for day traders primarily because of its user-friendliness.

Coinbase Trading Plaftorm

For starters, Coinbase has one of the easiest and most straightforward client registration processes. It also has low trade minimums. You, for instance, only need $2 to start day trading Bitcoins and other assets on the platform. Its web trading platform is also feature-rich, easily navigable, and mobile-friendly.

Not forgetting that Coinbase also provides users with an equally easy-to-use mobile trading app.

Today, you can day trade 250+ cryptos and 500+ pairs on Coinbase. The exchange supports a wide range of fiat currencies, implying that you will interact with fiat-crypto and crypto-only pairs. However, unlike the best crypto exchanges for day trading discussed here, Coinbase has a complicated trading fee structure.

If you are looking for faster transaction speeds and lower fees for high-volume trades, you will need to switch to Coinbase PRO.

6. Crypto.com – Top Crypto Day Trading Platform for Fast Transaction Processing

Crypto.com is one of the fastest-growing crypto exchanges. It lists close to 300+ cryptos and lets you day trade 500+ crypto pairs. Most of the crypto pairs can be margin-traded with leverages of up to 5X.

Not forgetting that the Crypto.com derivatives market lets you trade crypto futures and options. The exchange also provides users with a free DeFi wallet. This not only keeps your crypto safe but also exposes you to thousands of the hottest cryptos.

Crypto.com Trading Platform

Crypto.com makes the cut for the best crypto trading for day trading because of its competitive trading fees. For starters, there are zero fees for buying ETH and BTC using PayPal USD (PUSD). The rest of the pairs are subjected to competitive maker/taker fees.

These range between 0.075% and 0%, based on your monthly trading volume. Further, depending on how many CRO tokens you have staked, you qualify for a fee discount. The maker fee drops to zero, while takers get between 3% and 30% off the fees.

In addition to these, Crypto.com makes it here because it integrates a number of features critical to day traders. First is advanced analysis and technical indicators as well as risk-management tools. It also supports algorithmic trading and integrates multiple bots.

We also liked Crypto.com’s commitment to the security of client data and funds. It, for example, doesn’t share sensitive client data with third parties. Crypto.com also provides all its platform users with two free crypto wallets. First is the exchange-based vault that holds 90%+ of client assets offline. You also get a free and non-custodial mobile wallet app for iPhone and Android.

What is Crypto Day Trading?

Crypto day trading is one of the more popular forms of crypto investing. It is different from crypto investing because the trader typically has the trade open for less than a day. In most cases, seasoned traders will only hold on to a trade for a few seconds to a few hours.

Crypto day traders want to profit from even the slightest price changes in a crypto asset. They target relatively small profit margins for their trades. But they also intend to make as many trades as possible throughout the day. They also seek to price in both market directions. They will go long when a crypto asset is rallying and short it as soon as it flips.

Here is an example of how day trading works:

Let us assume that you wish to trade the BTC/USDT pair

You open a trade by buying BTC worth 1000 USDT

The asset starts rallying almost immediately and gains 5% in the next two hours.

You don’t want to risk losing this gain to a downward price correction, so you close this trade.

Upon selling Bitcoins, you will receive 1050 USDT. This trade has essentially earned you 50 USDT.

How much you make from day trading cryptos is dependent on how much you invest in cryptos. It also depends on your ability to accurately predict the price direction that the crypto takes.

Note that most day traders use crypto trading bots. These are more efficient than humans and are more accurate in predicting market direction and executing trades.

Pairs

Trading cryptos typically involves using one currency to buy another. This explains why cryptos are quoted, bought, and sold in pairs – denoting the currency being bought and sold.

There are two types of trading pairs. That is the fiat-to-crypto pair and the crypto-to-crypto pair.

  • Fiat-to-crypto pairs refer to a transaction involving both fiat and digital currencies. A good example of a fiat-crypto pair is the USD/BTC pair, featuring Bitcoins and US dollars. In such a case, a trader is using USD to buy BTC.
  • Crypto-to-crypto pairs, on the other hand, refer to a transaction that only involves digital assets. In such a case, you are using one digital currency to buy another. A good example is the popular BTC.ETH pair. In such a case, you are essentially using Bitcoin to buy Ethereum.

Crypto Day Trading Orders

Now that you understand crypto pairs let us turn our attention to crypto trading orders.

There are a few order types that you need to familiarize yourself with before you start day trading cryptos. These are:

Buy Orders

A buy order is an instruction to your broker or exchange. When going long on a trade, the orders state the point at which you will enter a position. When going short, it indicates the point at which you wish the trade closed.

Sell Orders

A sell order is the opposite of a buy order. When going long on a trade, it instructs the crypto broker or exchange the price at which to close the position. When shorting a crypto pair, the sell order indicates the price at which you enter a position.

Limit orders

A limit order is a direction to your crypto broker or exchange. It informs them of the price at which you wish to buy or sell a crypto. Say, for example, you wish to buy BTC using USD at $27,300 but the crypto is selling for $27,500. The order will remain pending and will only be executed when BTC’s value drops to this level.

Take Profit Orders

Note that take profit is a type of limit order. It is executed after your trade earns you a specific amount in profits. Say, for example, you bought BTC while it was selling for $27,500. You may set a limit order to close the trade and take profit if its price reaches $29,500.

Stop Loss Orders

A stop loss order is a risk-management tool and a type of limit order. It is meant to shield you from unnecessary losses should a trade turn against you. Let us assume you bought BTC at $27,500 and instead of gaining, it starts losing. You may set a limit order to stop losses at $27,000.

When searching for the best crypto exchange for day trading, ensure they support most of these orders. It is important that your preferred day trading platform offers price alert notifications for the listed cryptos.

Crypto Day Trading Rules

The crypto verse is largely unregulated. This implies that there are no specific crypto day trading rules, especially in the US.

However, some general securities rules practised by traditional investors also apply to crypto traders. In this section, we look at the three most common crypto day trading rules.

  • Pattern day trading rule: A person who executes more than four-day trades within five days is considered a pattern day trader. This group of traders are required to maintain a minimum equity balance of $25000 in their margin account. If their equity balance falls below $25,000 they will be restricted from day trading.
  • Wash sale rule: The Wash Sale rule relates to filing tax returns. It states that if you repurchase an asset you sold at a loss within 30 days, such a loss is not tax-deductible.
  • Margin balance rule: This rule relates to how you interact with a margin when using an SEC-regulated crypto exchange. It states that when trading crypto with leverage, you need to maintain a minimum margin balance of $ 2,000.

How to Pick a Crypto for Day Trading

In a sea of more than a million virtual currencies, finding the best crypto to day trade can be overwhelming. In this section, though, we share the top five things to look out for when deciding if a coin is worth day trading.

Volatility

At its core, day trading involves profiting from slight price movements. Your preferred crypto asset should, therefore, have a volatile price action. Note, however, that not all virtual currencies are equally volatile.

In most cases, a coin’s volatility rate will be determined by such factors as its market cap. In this case, altcoins with a small market cap tend to be more volatile than large-cap cryptos.

Here is an example:

In the 24 hours prior to writing, BTC price has been ranging between $26,500 and $27,400. This represents a volatility rate of around 3%.

During the same time, RUNE – the tokens for the THORChain has been trading between $1.52 and $1.67. This translates to a volatility rate of around 9%.

Skilled crypto traders will be inclined to trade the more volatile crypto assets. High volatility, when correctly priced, results in more profitable trades. Novice traders are, on the other hand, encouraged to start with less volatile assets like Bitcoin.

Volume and liquidity

Volume refers to the total value of a crypto traded in a specific market in a given period. If, for example, $100 Million worth of the BTC/USD pair is traded in 24 hours on Binance, then that is its trading volume.

Liquidity, on the other hand, refers to the ease with which you can sell or buy cryptocurrencies. A crypto is considered liquid if it can be bought and sold easily on most trading platforms. Cryptos with low liquidity are difficult to buy or sell and aren’t listed on many trading platforms.

It is important that you only trade the best future cryptos. These have high daily trading volumes and are deeply liquid. They are also listed with a large number of the best crypto exchanges. This implies that the buy and sell orders for the crypto are high, which minimizes incidences of slippage.

Spreads

Spread refers to the price difference between the bid and ask prices. The bid price, in this case, is the highest amount a buyer is willing to pay for a crypto. Ask price, on the other hand, is the lowest price a seller intends to sell the crypto.

It is important that you only use exchanges and trading platforms with the tightest spreads. This is because the spread rate plays a key role in determining your profit and take-home.

Let us assume you are buying crypto using USD on eToro, which maintains a 0.75% spread for the pair. Your trade will only be profitable if your position grows by more than 0.75%. Your take home will, therefore, be the profits made less the spreads and network and crypto transfer fees.

News and events

News and events have a huge impact on individual cryptos, as well as, the larger market. Monitor social media and mainstream media for crypto news and announcements about events. Assess the impact that these will have on the market and the crypto that will be most impacted.

News and events cause volatile price fluctuations for different cryptos. You stand to profit immensely if you can master the impact that different news items have on the price of specific cryptos.

In-network developments

Developments, in this case, refer to levels of activity inside a crypto network. These may include the integration of new technologies or adoption by brands. It may even include network upgrades like Ethereum’s transition from PoW to PoS.

Like news, these have a huge impact on a crypto’s price action. Positive developments like upgrades will mostly occasion a price jump. Negative developments like network downtime will, on the other hand, occasion a price drop.

What is the Best Crypto for Day Trading?

So far, you have learned where to buy cryptos and what to look for in the best crypto for day trading.

We nevertheless understand that there are hundreds of cryptos that have all these features. This makes settling on just one or a few crypto assets worth day trading overwhelming.

To help you start day trading today, our analysts suggest day trading the following crypto assets:

1. Bitcoin (BTC) – Best Day Trading Crypto

Bitcoin is the most beginner-friendly cryptos to buy today. Much of this can be attributed to its resilience and has an overall uptrending price action. These ensure that even if the markets turn against you, you can HODL the asset and want it to eventually price-correct.

Bitcoin

Three key factors, on the other hand, make Bitcoin the best day trading crypto for pro traders. These are its volatile price action, unmatched trading volumes, and accessibility. Bitcoin is also popular and global interest in the coin has been growing steadily. This says that there is an insatiable number of factors affecting its price that you can easily monetize.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

2. Ethereum (ETH)

Ethereum is one of the most actively traded digital assets in the world. It is easily accessible and listed with arguably all the popular crypto trading platforms. This gives it some of the highest daily trade volumes. It is also a popular crypto, drawing interest from a large number of speculators.

What is Ethereum

Further, a lot of developments have been taking place in the Ethereum ecosystem. Not forgetting that Ethereum is obedient to market trends. It, therefore, will rise when the market rallies and dip when it crashes. All these should tell you that there is an innumerable number of factors affecting ETH price.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

3. Dogecoin (DOGE)

Dogecoin is the most popular and one of the most valuable crypto assets. This popularity has helped it list with virtually all the leading crypto exchanges. Endorsements from brands and celebrities, including Elon Musk, have also driven lots of speculative interest in the joke currency.

Dogecoin

Today, DOGE is one of the most actively traded digital assets in the world. In the first nine months of 2023, for example, DOGE’s daily trading volumes averaged between $200 Million and $2 Billion.

The fact that it is a speculative investment also means that its prices are highly volatile. All these make Dogecoin the best meme coin to buy for active day traders.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

4. Shiba Inu (SHIB)

Shiba Inu is the second most valuable meme currency and one of the most volatile crypto assets. Four factors influenced our decision to feature it among the best day trading cryptos. First is its obedience to market trends – rising when the market recovers and crashing when it slips. Secondly, Shiba Inu is an accessible digital asset. It is listed with all the leading crypto exchanges and records high trade volumes.

Shiba Inu

Thirdly, Shiba Inu – like Dogecoin and most meme coins – is a speculative investment. Its price is, therefore, largely driven by the ever-changing trader sentiments. Lastly, we list Shiba Inu here because of the many developments taking place in the SHIB ecosystem. These have had a major impact on the meme coin’s price action.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

Crypto Day Trading Strategies

Any expert day trader will tell you that the secret to making it here is sticking to a strategy. You start by identifying a profitable strategy or coming up with one. Test it, first in a demo environment and then in the real markets. Deploy it to your trades and keep adjusting it to improve its efficiency.

Day Trading Crypto

If you are looking to start day trading today, we recommend using the following tested strategies:

Stop-loss orders

In addition to being a risk management tool, stop loss can also be grouped among trading strategies. It starts with assessing your risk tolerance. You then have to factor this into your trades and always set a stop-loss price.

Here is an example:

Let’s start by assuming that you have settled on a risk tolerance level of 10%.

You then choose to buy Bitcoin while it was trading at $27500. While making this trade, you are hopeful that BTC’s price will increase. But should the trade go south and BTC lose value, you are willing to lose no more than 10% of your investment.

If you bought 1 BTC, your stop loss price would be $24,750. Upon dropping to this price level, the BTC trade will be closed automatically.

Take-profit orders

Take-profit orders are the opposite of stop-loss orders. You use take-profit orders to lock in profits. This helps you avoid losing either the profit or investment to a reversal in price trends. As is the case with stop loss, take profit trading starts with identifying your take profit rate.

This is how it works:

Let us assume you have a take-profit rate of 15%.   

Let us further assume that you chose to buy Ethereum while it was trading around $1500. You are correct in predicting an uptrend and the asset’s price starts rallying immediately. With a take profit level of 15%, the trade will be automatically closed when the ETH price hits $1775.

Bankroll management

This is one of the most beginner-friendly day trading strategies. It is centred on protecting your investment capital. It involves setting a fixed maximum investment amount and sticking with it. This often takes the form of the number of trades you can make per day and how much to stake with every trade.

Here is how it works:

Let us assume that you have an investment capital of $5,000. You decide to set the maximum trade amount at 2%. This implies you cannot enter a trade with more than 2% of your capital.

At the start of your trading cycle, you can only enter into a trade with $100.

While the rate remains the same, the trade amount increases or decreases with time. If you are successful with your trade and grow your capital to $10,000 the maximum trade amount increases to $200. But if you lose half this capital, the trade amount drops to $50 while the rate remains fixed at 2%.

Trend following

Trend following is a day trading strategy that involves buying cryptos that are trending. Their price could be trending upwards or downwards. This strategy is based on the assumption that the trend will continue. It, therefore, involves opening a trade as soon as the crypto starts trending and closing at the slightest hint of a reversal.

Let us assume that you wish to trade Bitcoin. At this point, you are confident that it is about to begin an uptrend. You will need to hold on to this position for minutes or hours. You only close it as soon as the trend flattens or hints at a reversal.

Copy trading

Copy trading is by far the most beginner-friendly crypto investing strategy. It lets complete beginners earn while learning how to trade. It makes this possible by letting them copy the trade settings of highly successful traders.

eToro is one of the best copy trading exchanges. It runs a popular copy trading platform bringing together thousands of novice traders and an equally large number of successful day traders. By choosing to copy trade crypto here, you authorize eToro to automatically mirror the trade setting of your popular investor on your account.

eToro Copy Trading

Copy trading is easy as it is an automated process. It makes it possible for you to earn consistently without ever analyzing the markets or hitting the buy/sell order button. To start copy trading on eToro, however, you will need a minimum account balance of $200.

How to Start Day Trading Crypto – Step-by-Step Guide

You now know where to day trade cryptos and the best altcoins to day trade. In this section, we provide you with a step-by-step guide to day trading cryptos. You only need $10 to start trading and the spread is fixed at 0.75%.

Step 1: Open an eToro trader account

Sign up via etoro

Open the official eToro website on your browser. Alternatively, download the eToro mobile trading app. Hit the “Join Now” icon on either platform and complete the registration form that pops up. It will only capture your basic personal information. You will also need to come up with a unique username and create a strong password for this account.

Step 2: Verify your identity

The trader account registration process is only complete after you have verified your identity. Simply submit a picture of your government-issued identification document.

Step 3: Deposit Funds into your account

Deposit Funds on eToro

Log in to your approved crypto trader account and hit the “Deposit” icon. A funding tab showing all the payment options available to you will pop up. Choose one payment method and follow the prompts to deposit at least $10.

Step 4: Identify the best crypto to trade

Buy cryptos on eToro

eToro is home to close to 70+ digital currencies. Hit the “Discover” button on your user dashboard and choose ‘Cryptos.’ From the list of supported virtual currencies, identify the coin you wish to day trade.

Step 5: Start day trading

Buy Ethereum

Trading on eToro involves buying the crypto while it trades at a low price and selling it when it gains value. Start by hitting the “Buy” option against your preferred day trading crypto. Customize the purchase on the trading tab that pops up.

Trading fees will be automatically debited from your cash account. The private keys for the asset you just bought will also be deposited into the free exchange-provided wallet.

After the asset gains value, repeat the process but choose the “Sell” option. eToro will immediately debit your crypto wallet and credit your cash account. Then, repeat this process.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

Day Trading Crypto Taxes

Taxation laws vary from one country to another. And while most countries do not have explicit rules regarding crypto, they still impose a tax on crypto profits.

In most countries, your gains from crypto day trading will be subject to capital gains tax. In the US, profit from crypto day trading is subject to short-term capital gains tax. This is taxed at the same rate as your ordinary income – which ranges between 10% and 37%.

Check out More of our Trading Platforms Guide

If you’re keen to find out more about online trading, then feel free to check out some of our other articles:

Conclusion – Best Day Trading Crypto Platform Today

There goes everything you need to know about crypto day trading. We have looked at the best crypto apps in the US for day trading. We have also looked at the top coins to day trade and the most practical crypto day trading strategies. You have also learned how to identify a crypto asset worth day trading.

Want to start day trading cryptos right now? Use the step-by-step guide that we have outlined above. It teaches you how to invest in cryptos on eToro with as little as $10.

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FAQs on How to Day Trade Crypto

Is crypto day trading profitable?

The answer to this question of whether crypto day trading is profitable is subjective. This is because it is dependent on many external factors. These include your trading experience and understanding of the crypto markets.

The cost of day trading is highly dependent on two factors. First is the choice of your crypto exchange, and the second is your choice of trading pair. Understand that the cost of trading has a significant impact on your take home.

The best crypto for day trading for beginners has to be Bitcoin because it is moderately volatile. Experienced day traders are at liberty to go for more volatile assets like Dogecoin and Shiba Inu.

We would recommend eToro as the best crypto exchange for day traders. We like the multi-regulated exchange because it is user-friendly, maintains low trading minimums, and supports copy trading.

The amount of money you earn day trading crypto will depend on the effectiveness of your trades. It will also depend on how much you stake in each trade.

There is no standard amount as to how much you need to start day trading cryptos. In most cases, the minimum trade amount will be determined by your preferred crypto exchange. You have the final word on the maximum trade amount. We, nevertheless, encourage our readers to invest only the much you are willing to lose.