The massive bullish trend has caused problems for two popular cryptocurrency platforms, which are very similar to the previous ones. Many traders are unhappy with the problems in Binance and BitMEX, and they began to look for other reliable alternatives. And one of these problems with Binance is difficulties when entering or leaving the site. This is very annoying for many users. But others also talk about more serious failures, which led to difficulties in closing positions, placing orders, tracking open positions. It is likely that the problems are related to the increase in the number of trading operations that happened after bitcoin crossed the $ 10,000 mark. And even after promises of prompt elimination of errors in the platform, users complain about errors and problems with logging in.
The problems were not only with binance, bitmex also worked intermittently. And this is precisely the reason why many traders are looking for new alternative platforms for work. The threats of scams on platforms with low liquidity also left unpleasant emotions.
Therefore, given these problems, we can consider the following platforms for work:
For leveraged traders, StormGain is a good alternative. There are various cryptocurrency futures instruments on this platform. The exchange offers among them the use of perpetual contracts with a leverage of at least 50x for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and XRP. But at the same time, the trader gets the opportunity to increase the profit by 1000%, increasing the price movement by 200 times by 5%.
StormGain also provides the ability to fund customer accounts directly using debit, credit cards. It becomes possible to cooperate with Simplex. This platform has a simple commission system, 0.15%. – its average price per trade with a fixed swap.
Those wishing to try out the StormGain platform can use the demo version. It makes it possible to test strategies, use play money, before trading real cryptocurrency. The exchange provides bonuses for large traders, which are expressed in low commissions, and a deposit bonus for VIP-users of 18%.
ByBit Platform: For EOS and XRP traders, designed for those who love perpetual futures contracts and excellent liquidity.
The ByBit exchange is very simple to use. It offers Bitcoin, Ethereum, EOS and XRP futures. And also, the ability to trade contracts for BTC / USD with leverage up to 100x, and for ETH, EOS and XRP within 50x. But the main feature of the platform is its incredible liquidity. Today it is one of the largest exchange-traded derivatives exchanges with a large number of trades. The amount of the average daily trading volume of the perpetual contract BTC / USD can reach $ 10 billion.
Similarly with StormGain, you can also work with this platform in demo mode, debugging strategies and risking nothing. An important point is that trading on ByBit will sometimes be much cheaper than on BitMEX. This is possible because a fixed taker fee of 0.075 is charged for all contracts, as well as a maker compensation of 0.025. But the commission does not decrease depending on the volume of trade, unlike StormGain.
We can say that ByBit is not only an alternative option to Binance or BitMEX, it can compete with them, in light of the above problems.