Review of 3 Bitcoin Trading platforms
Currently, there are a lot of cryptocurrency trading platforms. What benefits can they bring to traders? What tools do they have? What are their functional capabilities?
Let’s examine these issues based on Bitstamp, CEX.IO and Bitsane.
Buy and sell orders are on the right part of the screen, so one can immediately set up these options. There is a possibility to make a lay-buy if the determined price is reached. One can also buy the strictly defined amount of cryptocurrency. However, it is obvious that orders do not include stop losses. In such a case, there is a possibility to lose the whole deposit without noticing damages in time.
It is unknown why the latest deals with certain cryptocurrency pairs are put on the left part of the screen. This section cannot be removed as well as bid and ask blocks. It is even impossible to decrease these blocks, which significantly limits working space, especially if one adds such an indicator as MACD.
A set of tools is not quite diversified. It does not even allow to build a trend of two parallels using two points. There is no more talk about building trend with a median line. Traders should make a price range of two lines, which is built on their own. Therefore, one will fail to reach parallelism.
It is impossible to correct (rebuild using new points) constructed patterns, whether they are Fibonacci retracements or a simple line. One will have to remove the old ones and build the new ones.
Besides, a set of indicators includes the majority of tools required for trading. Building them, one can adjust necessary parameters.
It is the possibility to set up a stop loss, limiting possible damages, during margin trading that significantly differs this platform from Bitstamp. The orders are at the bottom, which is not quite convenient, while currency pairs are in plain sight.
Working space (a chart) is too small on the home page, but one can replace it to a separate window for trading. However, it is worth noting that the diagram sometimes freezes without updating in the online mode. The change of the Japanese candlestick time segment is placed quite conveniently. Unlike Bitstamp, colors can be changed (two options are available: day and night).
The platform features more indicators than Bitstamp. They can be adjusted in any manner, even by turning colors. A range of patterns is more diversified as well. There is a possibility to rebuild already drawn figures using new points. And finally, a price range of two parallels is now available for traders.
It is the worst platform for trading. The order can be set up but the stop loss is absent. Candles are less informative, and the chart is unformatted. The only thing one can do is to increase a displayed time segment.
Indicators and patterns are absent. The amount of currency pairs is very limited. It is unclear why the latest deals, which amount grows pretty slow, is shown under the chart. The market depth, a difference between bid and ask, is even lower.