In this article we will discuss which is the best trading platform for Ethereum. The United States has extremely tough regulations for cryptocurrency trading and many of our readers are from US. Therefore, we will investigate region availability with the main focus on US traders. In addition, we will cover trading pairs, fiat currencies, trading features and tools, liquidity and deposit and withdrawal methods.
We will compare Binance, BitMEX, eToro and Coinbase with regards to the following properties:
• Region availability for Ethereum Trading Platforms
• Best Ethereum trading platform in US
• Ethereum Trading pairs
• Ethereum Trading features
• Ethereum Liquidity
• Deposit and Withdrawals
• Conclusion – Best Ethereum Trading Platform
If you are interested in full site reviews from these trading platforms you should head over to our list with top Bitcoin trading sites.
Region availability for Ethereum Trading Platforms
eToro does not allow traders from Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Botswana, Burundi, Canada, Chad, Congo Republic, Crimea Region, Cuba, Ethiopia, Guyana, Guinea, Guinea-Bissau, Iran, Japan, Laos, Libya, Mali, Myanmar, Namibia, Nicaragua, North Korea, Palau, Samoa, Serbia, Somalia, Sudan, Syria, Turkey, Uganda and Yemen.
Coinbase is available in 58 countries including:
Ghana, South Africa, Hong Kong, India, Indonesia, Republic or Korea, Philippines, Singapore, Australia, New Zealand, Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Guernsey Hungary, Iceland, Ireland, Isle of Man, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Canada, Cayman Islands, Mexico, United States, Virgin Islands, Argentina, Chile, Colombia & Peru.
Best Ethereum trading platform in US
Binance is the best overall platform for US traders, because they offer low fees, good trading platform, high liquidity and good support. However, they don´t offer trading in fiat currencies, margin trading, derivative trading, social trading. Also, their platform is not very friendly for cryptocurrency newbies.
BitMEX is not available in US.
eToro is not available in US. However, eToro launched eToroX in early 2019 where they do allow US traders.
Coinbase is a good place to start for US traders.
Ethereum Trading Platforms - Trading pairs
Binance offer many different cryptocurrency trading pairs with great liquidity and tight spreads. In addition, the fees are the lowest on the market.
BitMEX does only offer derivative trading in a few cryptocurrencies. BitMEX offer futures trading with Bitcoin, Cardano, Bitcoin Cash, EOS, Ethereum, Litecoin, Tron and Ripple.
eToro does offer crypto and fiat trading in the major cryptocurrencies and have a total of 64 trading pairs. Also, they do offer some trading in other fiat currencies than USD.
Coinbase does only offer trading with the major cryptocurrencies and some of the major fiat currencies. Coinbase’s competitive advantage is their simple platform and availability in USA.
Coingecko is a great place to compare any cryptocurrency pair and the market. If you use our link you will get directly to Ethereum markets and from there you can browse between spot market, futures markets or perpetual markets.
Ethereum Trading Platforms - Trading features
Binance has a good trading interface with charting tools from tradingview. Binance offer two trading modes, basic, classic and advanced, as can be seen in the screenshot below.
BitMEX does offer a simple but very functional trading interface with charting tools from tradingview.
eToro’s competitive advantage is their simple, but still nice, trading interface. It’s very easy to navigate and understand the different trading features, including, eToro academy, etoro social trading and eToro crypto copyfunds.
Coinbase is a beginner-friendly platform with basic trading features and simple navigation.
Liquidity on Ethereum Trading Platforms
Binance offer high liquidity.
BitMEX has a derivative market with high liquidity.
eToro does offer medium liquidity and the spreads are VERY high compare to the other platforms. Be aware of those spreads before you use eToro. eToro´s main competitive advantage is their social trading platform, including copyfunds.
Coinbase has a high liquidity with low fees and tight spreads.
If you are more interested in liquidity, Coinmarketcap is a great place to compare Ethereum liquidity between different trading platforms.
Deposit and Withdrawals on ETH Trading Platforms
Binance offers bank deposit, Credit/Debit card, P2P trading, and some third party payment methods as deposit methods. You can also see these alternatives in the screenshot below.
BitMEX only offer Bitcoin as deposit method and withdrawal method.
eToro does offer many different deposit and withdrawal methods including bank wire, credit card and many other e-wallets.
Coinbase offer all basics deposit and withdrawals methods. However, there are different possibilities for different regions.
Ethereum Trading VS Ripple Trading
Ethereum is, and has been for a long time, the second largest cryptocurrency by marketcap, after Bitcoin. Ripple has been pendling between the 3th and the 4th position during 2020 but before that, it has been the 3th largest cryptocurrency by market cap.
How does this affect your trading?
Well, if a cryptocurrency is among the top 10 by marketcap it will have a minimum effect. All the large crypto trading sites do support these currencies so there is nothing to worry about.
Also, if the currency is among the top 5 the liquidity and trading volume will not effect your trading either.
Still, if you are interested in Ripple XRP trading, read our blog post about best Ripple XRP trading platforms in 2020.
Conclusion – Best Ethereum Trading Platform
Binance is the best overall Ethereum trading platform. An alternative is Bitfinex and you can read our full Bitfinex review 2020 if you are interested to learn more about this Ethereum trading platform.
BitMEX is the best Ethereum trading platform for high leverage derivative trading. Alternatives are PrimeXBT and Delta Exchange.
eToro is the best Ethereum social trading platforms and also have passive trading with copy crypto portfolios. Alternatives are Avatrade or Plus500.
Coinbase is a good trading platform for Ethereum if you are from US and only want to buy and HODL some of the major currencies. Alternatives are Bitstamp, Bittrex or Kraken