The Best Trading Platforms on Reddit – From Beginner to Expert

The Best Trading Platforms on Reddit – From Beginner to Expert

Reddit may not be the first place you think of when you’re looking to discover the best trading platforms, but it’s certainly a platform worth considering. In this guide, we’re going to talk about exactly why Reddit makes sense as a go-to source of information on trading platforms and what factors you should be considering when looking to decide which platform is right for you. We’ll also give some specific examples of trading platforms that have been recommended by users on Reddit, along with details about the features those platforms offer. Let’s get started!

For beginners

If you’re new to cryptocurrency and trading, there are two common best trading platform reddit among people who follow cryptocurrency: Coinbase and Binance. That may seem obvious, but if you trade your crypto for fiat (USD, Euro etc.), I recommend using GDAX. Coinbase is a simpler option for buying bitcoin or ethereum with dollars. They have beginner friendly exchange that has made it extremely easy to use and they have a mobile app as well. GDAX (an acronym of Global Digital Asset Exchange) is very similar. It is also owned by coinbase and in my opinion it offers more tools than coinbase although beginners might find them difficult to use. The main difference between these exchanges is their fees and supported coins. For example, coinbase only supports BTC/ETH/LTC while GDAX offers many different cryptocurrencies including Ripple, Dash, Monero and many others. The choice really depends on what cryptocurrencies you want to buy and how quickly you want to be able to purchase them. For experts: If you already know how cryptocurrency works then choosing a platform can be much easier. Personally I like Binance because its interface is simple enough for anyone to understand yet still packed full of advanced features that experienced traders will appreciate such as margin trading and stop-limit orders.

Intermediate traders

For more advanced traders, reddit can still be an invaluable resource, but it may require some extra digging. Best trading platform reddit? Scroll through /r/Cryptocurrency and /r/BitcoinMarkets and /r/CurrencyMarket to learn more about specific coins you’re interested in trading. We do not recommend actually investing (by either buying or selling) until you’ve taken time to research a coin and understand its risks, rewards and unique attributes. The great thing about these forums is they allow you to hear directly from both novice and professional traders so, in addition to helpful how-to posts from folks like yourself, you might even stumble upon a few golden tips from experienced pros. After all, it takes years of experience to become a pro—so don’t be afraid to ask! These subreddits are frequented by developers as well as active traders who will often answer your questions if you ask them politely. That said, remember that no one knows everything; just because someone has been at it for years doesn’t mean they’re right 100% of the time. Use critical thinking and good judgment before deciding what advice you take! Remember: always do your own due diligence! Never invest more than you’re willing to lose…and keep things in perspective: When we say don’t invest what you’re not willing to lose, we really mean it! In other words, if you have $5 in your pocket, don’t buy something with $5 worth of bitcoin—that’s just setting yourself up for disaster. And remember: cryptocurrencies are incredibly volatile and unpredictable. So make sure to diversify! Don’t put all your eggs in one basket. If you have money invested into several different coins or tokens, then losing one won’t hurt nearly as much as losing everything invested into a single project would.

Advanced traders

If you’re an advanced trader, you’re already familiar with best trading platforms reddit. But, if you want a reminder of where all your peers are hanging out online when it comes to discussion forums and sub-reddits that focus specifically on trading and investing; we put together a quick infographic showcasing some of our favorite options. If there is something missing from your list that’s not covered here (or there’s another subreddit worth mentioning), let us know in a comment below! We’ll be updating and adding more as time goes on, so keep checking back for new content. 

Technical Analysis Subreddit /r/TechnicalAnalysis: This forum on Reddit features technical analysis discussions related to cryptocurrencies. Technical analysis is based around historical price movements and patterns, which can provide valuable insight into expected future price action. It also includes discussions around charting techniques, indicators like stochastics or moving averages, and timing considerations based on moving averages or other market cycles that traders may use to inform their strategies. There are various ways technical analysts look at charts like candlestick patterns or Elliot Wave theory which make for great reading material for anyone who wants a better understanding of how professional traders use technical analysis tools today.