7 Best Crypto Day Trading Platforms in Rwanda
The 7 Best Crypto Day Trading Platforms in Rwanda revealed. We tested and verified the best crypto day trading platforms for Rwandan Crypto Traders.
This is a complete list of crypto day trading platforms in Rwanda.
In this in-depth guide you’ll learn:
- What is a cryptocurrency day trading platform?
- Which brokers have the best crypto day trading platforms in Rwanda?
- Our recommended cryptocurrency day trading platforms for Rwandan Crypto Beginner Traders
- When is the best time to trade crypto for Rwandans?
- With which broker can you buy crypto using your debit card?
- How to compare crypto trading brokers against each other?
- Which broker offers the best crypto exchange in Rwanda?
- Which brokers offer Bitcoin and crypto mining?
- Which broker offers low minimum deposits with crypto trades?
- Which brokers offer a signup bonus for first-time traders?
And lots more…
So if you’re ready to go “all in” with the best cryptocurrency day trading platforms for Rwandans…
Let’s dive right in…
10 Best Forex Brokers in South Africa for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
. 
- Louis Schoeman
7 Best Crypto Day Trading Platforms in Rwanda (Updated 2024)
- eToro – Overall, the Best Crypto Trading Platform
- Crypto.com – Best Market Maker Platform in Rwanda
- Coinbase – Best Crypto Trading Platform for Beginner Traders
- Interactive Brokers – Best Platform for Experienced Traders
- Webull – the Best Ethereum Platform in Rwanda
- Binance – Best Crypto Trading Platform with Low Day Trading Fees
- Robinhood – Best Commission-Free Crypto Trading Platform
1. eToro
Overall Rating
- 4.8/5
Min Deposit
USD 50
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
Overview
There’s no better place to trade than eToro, which combines the best of all worlds: minimal costs, user-friendliness, and a wide variety of markets for Rwandan traders.
Over 40 spot trading markets are available on this day trading platform, all of which are pegged to the US dollar. XRP and Dogecoin are just a few examples, but the list goes on and on, from Shiba Inu and Ethereum to Celo and AAVE.
The euro and pound sterling are only two examples of digital assets that can be traded against each other.
2. Crypto.com
Overview
Rwandan traders of different skill levels and budgets use this platform, which was launched in 2016. You will have access to more than 250 cryptocurrencies, which includes a wide range of both big and small projects. For day traders, Crypto.com has a maker/taker pricing system, which is ideal.
If you’ve never heard of market makers, they’re the people who bring liquidity to crypto exchanges, and as a result, they get better commissions.
You’ll be labelled a “market taker” if you’re just starting out in the crypto day trading game. Because of this, you will be charged a maximum of 0.4% for each slide.
3. Coinbase
Overview
Making regular gains from day trading cryptocurrency is by no means an easy task.
In addition to debit/credit card and PayPal purchases, this includes ACH transactions at a 1.49 percent flat rate.
Deposits under $200 are subject to additional surcharges. Nevertheless, you’ll have access to more than 50 popular cryptocurrencies after funding your Coinbase account.
4. Interactive Brokers
Overview
Interactive Brokers offers direct trading of Bitcoin and Ethereum for one of the lowest commission rates available in this market. As an alternative to holding the underlying coins, Rwandan traders can purchase Bitcoin and Ethereum futures.
The Chicago Mercantile Exchange offers futures contracts for Bitcoin and Ethereum, with contracts costing $11.02 for five coins each and $9.02 for 50 coins each.
Commission: 0.12-0.18 percent of trade value; $10.02 per futures contract
Account minimum: $0
5. Webull
Overview
Even though Webull is a lesser-known brand than other rival commission-free trading software options, it offers a comprehensive set of services to users, including the ability to trade cryptocurrencies.
Webull is a broker worth considering by Rwandan traders because of its powerful charting tools and user-friendly mobile app.
Commission: $0
Account minimum: $1 to trade crypto
6. Binance
Overview
Coinbase’s rival, Robinhood, is based in the United States. Robinhood, on the other hand, provides a straightforward service: commission-free trading. Every day, dozens of various markets, including major cryptocurrencies like Bitcoin and Dogecoin may be accessed through Robinhood by Rwandan traders.
Micro trading is one of the key advantages of Robinhood’s crypto day trading services. This means that Rwandan traders can invest in cryptocurrencies even with tiny quantities of money. When it comes to Bitcoin, for example, you can buy it for merely 0.00001 BTC.
7. Robinhood
Overview
Coinbase’s rival, Robinhood, is based in the United States. Robinhood, on the other hand, provides a straightforward service: commission-free trading. Every day, dozens of various markets, including major cryptocurrencies like Bitcoin and Dogecoin may be accessed through Robinhood by Rwandan traders.
Micro trading is one of the key advantages of Robinhood’s crypto day trading services. This means that Rwandan traders can invest in cryptocurrencies even with tiny quantities of money. When it comes to Bitcoin, for example, you can buy it for merely 0.00001 BTC.
How Crypto Day Trading Works
To begin crypto day trading, you need to set up accounts on cryptocurrency exchanges that support day trading. Before starting the trading day, conduct a thorough market analysis.
Popular Crypto Day Trading Strategies
Every good trader in Rwanda must have a sound trading strategy in order to succeed. Below, we have described some of the most tried and tested day trading crypto strategies.
Range trading strategy
It is possible for a single huge player to control the entire cryptocurrency market. To profit from a price range, some major movers may deliberately influence the price of a coin. You can also benefit from these patterns if you are aware of them.
These zones may be found with the use of chart indicators, which can be found in any credible stock chart program.
Scalping strategy
Scalpers profit from an upsurge in trading activity. Trading cycles for scalpers can be as frequent as every few seconds, and many of them employ automated bots to do it.
The goal of a scalper is to get out of a trade as soon as the market’s perception of a coin changes due to news or a brief fluctuation.
Arbitrage strategy
It is possible to make money by buying cryptocurrencies on one exchange and then selling it on another for a profit. The “spread” is the difference between the purchase and sale price of an asset.
Bitcoin volatility strategy
Volatility trades are preferably directionless, which means that there is a chance of generating money regardless of whether Bitcoin rises or falls in value.
Using Bitcoin options, the long straddle is a directionless volatility strategy that can be used to reduce risk. Purchase of a call and put option at the same time for the same strike price and the expiration date is required to get started.
It is lucrative to trade Bitcoin straddles when the price of Bitcoin falls or increases more than your premium away from the strike price. To get out of the deal, you must sell both the call and put options at the same time.
Advantages of day trading cryptocurrency
There are several advantages of day trading crypto for Rwandan traders, including the following:
Access to volatility
If you want to go into day trading, however, this volatility may be a very profitable instrument because there are several possibilities to profit from the market’s volatility.
Transparent access to data
In the cryptocurrency market, there are no costs to utilize exchanges, which means that you save money on fees. Essentially, this implies that you can view data that is critical to day trading without having to pay any fees.
For those who are interested in checking out the order book, 99 percent of the time, this information may be obtained without the need to sign in, as demonstrated here on Binance with the USDT/BTC pair.
On the same note, these exchange interfaces will frequently include a variety of technical analysis tools that can be used to help traders make informed trading decisions.
However, while this will not make or break your decision to begin day trading cryptocurrency, it is unquestionably a bonus and can assist you on your way to being a trading pro.
Disadvantages of day trading cryptocurrency
There are also some disadvantages to day trading cryptocurrencies for Rwandan traders, which should be taken into account.
Unregulated market
If an exchange goes out of business, is hacked, or decides to abscond with all of your money, you have no one to turn to, no higher authority, and no insurance policy to assist you recover your losses on the crypto market.
Even if it doesn’t happen very often, as a day trader you should be prepared for the possibility of this inherent risk.
The effect of the news cycle
This one goes hand in hand with the volatile characteristic of the crypto market. Other asset classes, like as corporate profits and government data, are issued on a regular basis, allowing you to predict where the market is headed to a certain extent.
It is free for all in the cryptocurrency world, and even the smallest piece of news from a random site can send the price flying or crashing in the time it takes you to finish reading this line.
It is preferable to have predictability if you are seeking for simple transactions because unpredictability will just make profit earning more tricky, though this is a double-edge sword.
The danger of locked in positions
The ability to take a position swiftly is frequently demonstrated on the crypto market; but, the ability to escape a position when necessary is not always so straightforward.
The only way to avoid this is to trade when there is the activity or to maximize the liquidity that is accessible to you by choosing the correct exchanges with a very high number of trading participants.
How to choose a crypto platform
Rwandan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.
Regulations and Licenses
This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Rwandans must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Rwandans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments that the broker offers. Rwandans must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor and Rwandans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Rwandan trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
- eBooks
- Trading guides
- Trading knowledge on leveraged products
- A risk warning on complex instruments
- Educational videos
Research can include some of the following:
- Trading tools
- Commentary
- Status of International Markets
- Price movements
- Market sentiments
- Whether there is a volatile market
- Exchange Rate
Expert opinions and several other resources can help experienced traders make informed trading decisions.
The Best Crypto Trading Platforms in Rwanda
In this article, we have listed the very best crypto trading platforms for Rwandan day traders. Of these platforms, we have further identified the platforms that offer additional services and solutions to Rwandan traders.
Best platform with market diversity for Rwandan traders
Overall, eToro is considered a low-risk broker and can be summarised as a trustworthy and reliable market-making broker for day trading crypto in Rwanda. Regarding spread and security, eToro guarantees fast trading speeds from a few milliseconds for crypto trading in Rwanda. In terms of users, eToro has over 24.8 million registered traders.
Best market maker platform for Rwandan traders
Overall, Crypto.com is considered a low-risk broker and can be summarised as a trustworthy and reliable market-making broker for day trading crypto in Rwanda. Regarding spread and security, Crypto.com guarantees fast trading speeds from a few milliseconds when trading crypto in Rwanda. In terms of users, eToro has over 10 million registered traders.
Best platform for beginner Rwandan traders
Overall, Coinbase is considered a low-risk broker and can be summarised as a trustworthy and reliable market-making broker for day trading crypto in Rwanda. Regarding spread and security, Coinbase guarantees fast trading speeds from a few milliseconds for crypto trading in Rwanda. In terms of users, eToro has over 89 million registered traders.
Best platform for experienced Rwandan traders
Overall, Interactive Brokers is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading crypto in Rwanda. Regarding spread and security, Interactive Brokers guarantees fast trading speeds from a few milliseconds for trading crypto in Rwanda. In terms of users, eToro has over 1.6 million registered traders.
Best Ethereum platform for Rwandan traders
Overall, Webull is considered a low-risk broker and can be summarised as a trustworthy and reliable discount broker for day trading crypto in Rwanda. Regarding spread and security, Webull guarantees fast trading speeds from a few milliseconds when trading crypto in Rwanda. In terms of users, eToro has over 7 million registered traders.
Best platform with low day trading fees for Rwandan traders
Overall, Binance is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading crypto in Rwanda. Regarding spread and security, Binance guarantees fast trading speeds from a few milliseconds when trading crypto in. In terms of users, eToro has over 21.5 million registered traders.
The best commission-free platform for Rwandan traders
Overall, Robinhood is considered a low-risk broker and can be summarised as a trustworthy and reliable market maker broker for day trading crypto in Rwanda. Regarding spread and security, Robinhood guarantees fast trading speeds from a few milliseconds when trading crypto in Rwanda. In terms of users, eToro has over 22.7 million registered traders.
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FAQ
What is a crypto day trading platform?
A crypto day trading platform is an online platform or software that allows traders to buy, sell, and trade cryptocurrencies within short timeframes, typically within a single trading day.
What are the best crypto day trading platforms?
The best crypto day trading platforms depend on individual trader needs, such as regulation, trading fees, security, and user experience. Some popular crypto day trading platforms include Binance, Coinbase Pro, and Kraken.
What should I consider when choosing a crypto day trading platform?
When choosing a crypto day trading platform, it is important to consider the following factors: regulation, fees, security, user experience, supported cryptocurrencies, and the platform’s reputation. It is also important to understand the platform’s fee structure and trade execution speeds to ensure it aligns with your trading goals and needs.
How do you make money on a crypto day trading platform?
The most important aspect of making a profit on a crypto day trading platform is to make use of a sound day trading strategy, employ thorough backtesting, and use a reputable platform or broker.
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