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5 Best DeFi Trading Platforms Compared

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Sophie Louise Hacker Noon profile picture

@sophielouiseSophie Louise

Covering Cryptocurrency & Blockchain technology since 2015. Digital Nomad here in Asia

DeFi trading platforms allow traders to keep track of their portfolios and track multiple exchanges from a single platform. A trading terminal is one of the most efficient ways to simultaneously keep track of their portfolios and trade on multiple markets. 

In this article, we’re going to look at a few DeFi trading platforms available in the market, see what each of them offers, and what sets them apart. 

What Exactly Are DeFi Trading Platforms?

To define DeFi trading platforms, traders can utilize software to trade on multiple cryptocurrency exchanges from a single platform. However, that isn’t the only function that trading platforms can fulfill. DeFi trading platforms offer a host of features that are unavailable with cryptocurrency exchanges. 

Terminals can also secure your trading sessions as there is no need to reveal exchange passwords every time you have to trade on separate exchanges. This is because terminals use API keys that connect directly with the exchanges, eliminating the need for traders to log in on each exchange separately. 

DeFi trading platforms act as a central hub by connecting to a portfolio across multiple exchanges. This allows users to use a single terminal and manage orders on various exchanges at the same time. DeFi trading platforms are probably the smartest way to trade cryptocurrencies. They can manage your portfolio, automatically execute trade orders and opportunities, and check on trades 24/7. 

What Are Some Features Of DeFi Trading Platforms? 

Top DeFi trading platforms should have the following features. 

  • Reliability
  • Security
  • Profitability
  • Transparency
  • User-friendliness

Let’s look at some terminals that have all of the above features and more. 

Aurox 

Aurox is backed by thorough market research, input from experienced traders and seamless, intuitive and comprehensive tools. Aurox’s trading platform allows professional traders to build on their trading experience, allowing them to turn their trades profitable. 

Aurox comes with several unique features such as price alerts, multi-exchange support, trading view charting software and professional advice, allowing users on the platform to make informed trading decisions. Aurox makes portfolio management relatively simple, guaranteeing better results for traders. 

Aurox currently supports exchanges such as Binance, BitMEX, Coinbase, Kraken and several others. Some of the features of the platform are 

  • Customizable workspace management – Users can create a customized trading desk that is tailored to their needs.
  • Security – Auox gives users 24/7 security, thanks to enterprise grade encryption. Aurox also does not need API keys or passwords, with all requests executed directly between the trader’s desktop and the relevant exchange. 
  • TradingView Chart – Aurox users can access the TradingView Chart, giving users access to hundreds of indicators. 
  • Comprehensive news feed – Aurox has a custom news feed that allows traders to stay a step ahead in the markets by getting them all the information they require in one place.  

3Commas 

3Commas is a crypto trading terminal focused on bot trading and portfolio management. The platform is considered an excellent option for professional traders.

The platform also features short-term crypto trading strategies. The platform offers among the most affordable advanced DeFi trading platforms, and it is one of the few platforms that offer highly advanced tools for managing a trader’s short positions. Some of the other features that 3Commas offers are :

  • Breakeven calculator – The breakeven calculator calculates the total valuation of all accumulated orders. 
  • Portfolio management – Allows traders to quickly view all exchange funds and wallets from one intuitive screen. 
  • Mobile support – Allows traders to check their trades on the go. 
  • Trading journal – The trading journal allows users to journal their trades. 

3Commas has different pricing plans, starting from the free plan; the platform also has the “Starter”, “Advanced” and “Pro” plans, and supports exchanges such as Coinbase, Binance, Binance DEX, and several others. 

Cryptohopper 

Cryptohopper is a trading terminal featuring copy trading and automated bots. Copy-trading allows new, inexperienced traders to copy the trading strategies of experienced traders and utilize them in their trades. Cryptohopper will enable traders to automate almost all aspects of their portfolio. 

Cryptohopper’s all-inclusive trading terminal makes investing in cryptocurrencies easier. It allows traders to automate all processes, copy the trading strategies of professional traders, set alerts through mobile applications. The platform will enable traders to stay on top of the market, no matter what exchanges they use or which coins they have invested in previously. Some features of Cryptohopper are 

  • A user-friendly and easy-to-set-up dashboard. 
  • An external signal tool that allows traders on the platform to subscribe to expert analysis from around the world. 

CryptoHopper has four different pricing plans, starting with their Pioneer package, which is their free package. The other packages are Explorer, Adventurer, and Hero packagers. 

Coinigy 

Coinigy was among the earliest trading platforms. It was designed for more experienced traders and ideal for day traders managing strategies across multiple portfolios. Coinigy users can utilize an alert system that helps them stay on top of their trades. Coinigy helps traders track their trades through the use of market analytics, app integrations, and order monitoring. 

Coinigy has created a robust trading terminal for advanced traders and offers some of the most reliable portfolio management services. Coinigy supports over 45 of the most popular exchanges in the cryptocurrency market and facilitates combining exchange portfolios and personal wallets. 

Some features of Coinigy are 

  • Portfolio management – Coinigy’s easy-to-use portfolio management suite can efficiently be utilized for personal wallets and exchanges. 
  • Market overview screener – This is a fully customizable screen that allows users to see various markets and other statistics. 
  • Unlimited alerts 
  • Mobile support 

Coinigy has three pricing packages starting with their starter account, which is their free package. The other packages are the Pro trader package and the API Developer Pro package. 

Kattana 

Kattana is a multifunctional terminal, allowing traders to refine their trading strategies on decentralized exchanges further. It does this by aggregating the trading tools on one platform. A suite of professional, reliable, intuitive, and quick trading tools, Kattana is suitable for both experienced and novice traders and is the only professional trading platform with charts from both centralized and decentralized exchanges. Traders can trade within the platform without the need to find contract addresses and other decentralized exchanges. 

Kattana’s UI is simple, clean and intuitive, and also has an aggregated news section that aggregates news, providing users of the platform news and updates about assets and projects that they want to keep an eye out for to help with their trades. This will help keep traders in the loop about promising trades and assets. 

Kattana also calculates the P&L of transactions, generates a profitability chart, structures the transactions as trades, analyzes all ERC-20 addresses, and simplifies trading for the traders on the platform. Kattana is now open for early adopters who can test the full suite of tools available on the platform in the DeFi space. 

Unique Features Of the Kattana Platform 

  • Scalable charts – Kattana gives traders access to scalable charts from both centralized and decentralized exchanges. 
  • Traders can trade from within the platform without finding contact addresses or DEX’s where assets are traded. Instead, they can directly buy/sell from within the platform itself. 
  • Kattana has a clean and straightforward UI and UX. The team has managed to create probably the best trading interface in the industry. 
  • Kattana aggregates news from hundreds of resources, all accessible in one place. 
  • Trading analysis of ERC-20 addresses – Kattana will calculate the P&L of all transactions and compile a profitability chart. 

Kattana currently has three pricing plans with various benefits. The Free Plan is the starting plan, followed by the Basic Plan and the Pro Plan. 

Conclusion 

Crypto markets function 24/7, and it becomes crucial to know what goes on in the market at all times. It also makes tracking your portfolio an extremely time-consuming and cumbersome task, making it even more difficult if you own manual accounts with different exchanges.  Trading terminals make life easy for traders, allowing them to access all their accounts from one place and automate the trading process.

Today, there are several DeFi Trading platforms in the market, with platforms such as Kattana already gaining popularity among traders. 

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Blockchain

QAN Raises $2.1 Million in Venture Capital to Build DeFi Ecosystem

QANPlatform has successfully closed a $2.1 million funding round and it looks to build a quantum-resistant DeFi infrastructure.

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QANPlatform – a project that is on a mission of building a quantum-resistant hybrid blockchain protocol, secured investment from various venture capital funds to build a DeFi ecosystem.

QAN Successfully Closes a Funding Round of $2.1 Million

The question of whether or not existing blockchain-based PoW networks would stand the test of a quantum computer is one that’s been discussed for quite some time. To this date, many believe that a quantum computer is the most serious threat to Bitcoin as it would be able to solve math problems a lot quicker compared to traditional mining machines.

In any case, in an attempt to tackle these issues, along with others, QANplatform has raised $2.1 million to fund the development of an ecosystem where developers would be capable of building various software applications within DeFi quicker.

Leading the round were the likes of DeltaHub Capital, BlackDragon, Insignius Capital, Fairum Ventures, and so forth.

Speaking on the matter was Johann Polecsak, co-founder and Chief Technical Officer at QANplatform, who said:

“Our key mission is to lower the entry barriers for developers so startups and enterprises can build their Proofs-of-Concept (PoC) and Minimum Viable Product (MVP) as fast as possible to reach mass adoption. We stick to this view and let only community-driven VCs invest in this strategic pool”

Quantum Computing and its Threats

According to a well-known report from one of the largest auditing and security service companies in the world – Deloitte, quantum computing does pose a threat to Bitcoin.

Of course, it’s important to factor in the possibility of such a computer being created and used for this particular purpose, but, in theory, it could cause damage, according to the experts.

For instance, there are around 4 million bitcoins that are potentially vulnerable to a quantum attack. Yet, there are plenty of things to keep in mind when thinking about this. For instance, it’s important to note that these are mostly p2pkh addresses, and only those which have never been used to spend bitcoins are safe because their public keys are not yet public. In other words – if one transfers their BTC to a new address, they should not be vulnerable to a quantum attack.

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Source: https://cryptopotato.com/qan-raises-1-8-million-in-venture-capital-to-build-defi-ecosystem/

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Blockchain

Balancer V2 is Live Promising Lower Fees and Improved Experience

Balancer V2 goes live today and it promises users lower fees and substantially improved user experience.

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The automatic market maker (AMM) running on top of Ethereum, Balancer, announced that Version 2 of its platform is already live. It promises lower gas costs, a redesigned interface, and an enhanced user experience.

Balancer V2 Arrives

Built on Ethereum, Balancer is a DeFi protocol enabling users to trade ether and ERC-20 tokens in a trustless, permissionless environment. By providing liquidity to a Balancer pool, they can also earn a portion of the trading fees paid to the network for the use of their funds in the form of the native token BAL.

The team behind Balancer announced the arrival of its long-anticipated Version 2 platform in a press release shared with CryptoPotato. It comes with a new user interface, indicating that the user experience has been simplified.

The statement outlined there will be an easy-to-follow migration procedure for users to transfer their funds from Balancer V1 to V2, and it will be released as a full tutorial later.

The team believes that V1 will continue to “provide the best price until a substantial amount of liquidity migrates to V2.” At that point, Balancer expects trades to be routed through V2’s Protocol Vault resulting in “lower gas costs and better pricing.” The project’s estimations envision the fee reduction to be up to 50%.


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Multi-Sig and Liquidity Mining

The upgrade has signified Balancer Protocol’s transition to a community multi-sig for its governance execution. As a result, the new signers include Alexander Lange (Inflection), Fabien Marino (Snapshot Labs), Kain Warwick (Synthetix), Kevin Owocki (Gitcoin), Trent McConaghy (Ocean Protocol), and Mariano Conti (Ethereum).

They will be responsible for “executing all transactions passed as Snapshot as Balancer continues to be run by those who care most – the community.”

V2 will also provide a new and “more trustless program” for BAL liquidity mining. Upon its launch, liquidity providers (LPs) will be able to stake positions in different pools and receive BAL tokens.

Each pool will be assigned to one of three different tiers, with each tier slot getting a pre-determined amount of coins per week.

The team also informed that it will release further details in the following weeks on the “changing Balancer landscape.”

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Source: https://cryptopotato.com/balancer-v2-is-live-promising-lower-fees-and-improved-experience/

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Blockchain

Palantir Accepts Bitcoin for Payments and Considers Adding BTC to Balance Sheet

Major software and analytics company Palantir is the latest to accept BTC and even considers adding it to its balance sheet.

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Software & analytics company Palantir has announced that they will be accepting Bitcoin as a payment method. Palantir will also consider purchasing Bitcoin or other cryptocurrencies to store on their balance sheet.

Thiel Bets Big on Bitcoin

Peter Thiel, the co-founder of Palantir (and, notably, PayPal), has been a long-standing cryptocurrency advocate. The company announced that it now accepts BTC for payments and even considers adding it to its balance sheet.

As early as three years ago, Thiel has been seen investing in cryptocurrency mining startups, exchanges, and more, making a bid on the come-up of Bitcoin and blockchain technology.

Earlier today, Block.one (another Thiel-backed software company) announced a bold new venture: a new cryptocurrency exchange named ‘Bullish,’ backed by a whopping $10B in funding. Thiel Capital was one of the leaders in this funding round.

A Growing Trend

The air is changing: big companies are slowly warming up to cryptocurrency. What started with a wave of small underdogs, like the Ethereum Hotel in China, has blown up this year with a flood of large new players accepting Bitcoin – even tech giants like Tesla.


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As more companies join the trend and more investors start storing portions of their wealth in cryptocurrencies, there is a very real financial opportunity cost on the horizon for archaic companies that choose not to adopt what’s coming, as they risk alienating a large section of demand.

Whereas some firms are resistant to change due to the additional hiring and costs associated with adding cryptocurrency terminals, many are of the opinion that there will soon come a point where it becomes far more expensive not to accept Bitcoin as a payment method.

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Source: https://cryptopotato.com/palantir-accepts-bitcoin-for-payments-and-considers-adding-btc-to-balance-sheet/

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eBay Now Allows the Sale of NFTs on its Platform

One of the largest online marketplaces, eBay, now allows the sale of NFTs.

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E-commerce giant eBay has become the first in its industry to catch the non-fungible tokens (NFT) mania, as the company is now allowing the sale of NFTs on its platform.

  • According to Reuters on Tuesday (May 11, 2021), eBay said that it would enable the sale of NFTs for digital collectibles such as video clips, images, or trading cards on its marketplace.
  • Meanwhile, the ability to list and sell NFTs would be open only to whitelisted sellers. This could mean that the platform may have an authentication protocol for listing NFTs.
  • The latest development comes on the heels of a recent statement made by eBay CEO Jamie Iannone, who said that the company was exploring the NFT sector.
  • Commenting on the company’s upcoming plans, Jordan Sweetman, eBay’s senior vice president, and General manager for the platform’s North American market, said:

“In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform.”

  • The NFTs industry continues to see increased adoption across different sectors, with celebrities and sports stars tapping into the NFT industry.
  • Meanwhile, eBay’s foray into the NFT sector is another indication of the growing e-commerce crypto and blockchain adoption. From PayPal to JD.com, online merchants are increasingly interfacing with the emerging tech.
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Source: https://cryptopotato.com/ebay-now-allows-the-sale-of-nfts-on-its-platform/

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