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5 Best Crypto Futures Trading Platforms

The cryptocurrency industry is developing regardless of the market’s downtrend. Today, over 20 000 different digital assets are presented in all crypto rankings and over 500 services and applications for trading and investment. The main direction of use for crypto assets is trading. Exchanges on the Internet offer a different range of trading tools and instruments. Some propose the simplest swapping functions, while others offer complex and advanced financial tools. An example is crypto futures trading.

How to Buy Crypto Futures?

Unlike trading on the spot market, futures do not mean that you need to buy and hold coins immediately. Instead, you buy a futures agreement where you claim that you will purchase or sell crypto someday in the future. This trading tool allows people to hedge risks and speculate on crypto coin rates. How does it happen? Here are the main versions of how you can trade futures:

  • Suppose you have some bitcoins in your wallet, but you are afraid that the BTC rate will drop soon. You want to protect your funds, so you may sell bitcoins and then enter into a Bitcoin futures contract, where you claim at what price you will buy bitcoins and on what day. This method is called “shorting”.

  • Suppose you think the market is about to grow, so you open a Bitcoin futures contract where you claim on what day and at what price you will sell your bitcoins. This method is called “to go long.”

What is the Best Crypto Exchange for Futures Trading?

Trading platforms that support futures are becoming more popular among advanced traders. Things to look for when picking a platform for crypto futures trading:

  • the leverage ratio available;

  • fees;

  • liquidity;

  • usability;

  • security.

Taking into account these characteristics, we selected the 5 best crypto exchanges for futures trading:

  • ByBIT

  • Binance

  • BitMEX

  • OKX Futures

  • WhiteBIT.

The most intuitive is WhiteBIT. It is suitable for beginner traders who want to handle crypto futures trading, for it allows them to practice on a demo account. So you may pick a different leverage ratio and compare it with the results you get.