Economy
A Comprehensive Guide to Finding the Best Crypto for Day Trading in 2023
Cryptocurrencies have quickly transitioned from a niche investment option to a mainstream trading asset. As they continue to gain traction, there arises a pressing need for suitable platforms to facilitate day trading of these digital currencies. This article from Traders Union experts evaluates some leading platforms, spotlighting their benefits and limitations for potential day traders. Additionally, it outlines the best crypto for day trading.
Is Day Trading Cryptocurrencies legit?
Day trading of cryptocurrencies is sanctioned in numerous nations. Typically, countries that recognize and endorse cryptocurrency trading, such as the USA, Canada, Australia, and the UK, also permit cryptocurrency day trading. In these jurisdictions, individuals can partake in cryptocurrency transactions, including day trading, provided they adhere to the associated regulations and settle any relevant taxes.
Nonetheless, while day trading of cryptocurrencies is lawful, TU experts argue that it’s vital to understand that it carries considerable risks. Such trading can yield substantial profits but can also result in notable losses.
Is Engaging in Crypto Day Trading Advisable?
When pondering the feasibility of day trading cryptocurrencies, one is essentially questioning the potential profitability of such an endeavor. The response is clear: it is indeed possible to profit from day trading in the crypto realm, largely due to its inherent volatility, which seasoned and informed traders can capitalize on. However, as with any trading activity, there’s an inherent risk attached. Thus, potential traders should recognize that profitability is not assured. Success in this arena requires dedication, time investment, and a strategic approach.
To excel in cryptocurrency day trading, Traders Union analysts stress that one needs a blend of adept technical analysis skills, a keen sense of how particular news impacts the market, and a sound judgment. For those committed to mastering the craft, day trading in cryptocurrencies can be lucrative. But as with any investment avenue, it has its distinct set of pros and cons. And it’s essential to be cognizant of the fact that high rewards often come with high risks.
Identifying the Premier Crypto Exchanges for Day Trading
For someone keen on day trading cryptocurrencies, three pivotal factors stand out when selecting an exchange: the type of derivative it supports, the associated trading fees, and the diversity of altcoins on offer.
- Trading Fees
Trading fees can quickly accumulate, especially for day traders who execute numerous transactions within a day. Some exchanges levy a fixed fee per transaction, while others charge a percentage of the trade’s value. Costs associated with software or data access can also impact the trader’s profitability. Additionally, liquidity – the speed and ease with which assets can be bought or sold without significantly affecting their price – remains paramount. Moreover, given the vast amounts they handle, day traders should never compromise on security.
- Supported Derivatives
The right exchange for day trading must support a range of derivatives. These financial instruments derive their value from underlying assets. Day traders often utilize derivatives to speculate on the future movements of these assets. Taking both long and short positions, they can profit regardless of market direction. Hence, exchanges offering diverse derivatives such as futures, options, and swaps, coupled with competitive spreads and minimal fees, are often the most appealing.
- Supported Altcoins
Beyond the dominant players like Bitcoin, there’s a vast realm of altcoins with lower market capitalizations but immense potential. An exchange that supports a broad spectrum of these altcoins offers traders the flexibility to capitalize on emerging trends. Moreover, such exchanges usually offer better liquidity, crucial for quick trade execution without significant price slippage.
Deciphering the Ideal Cryptocurrency for Day Trading
According to experts at TU, liquidity remains the cornerstone of day trading. It defines how seamlessly an asset can be transacted without drastic price shifts. In the crypto sphere, Bitcoin, Ethereum, and some major futures contracts often top the list due to their high liquidity. However, while these might be popular choices, several factors, including volatility, volume, platform availability, team reputation, and media coverage, must guide a trader’s choice.
Conclusion
When assessing the best cryptocurrencies for day trading, Traders Union experts emphasize that one must look for assets with high trading volumes, listings on major exchanges, and solid liquidity. Popular contenders often include Bitcoin, Ethereum, Litecoin, and Ripple. Nevertheless, every trader should undertake comprehensive research and analysis before embarking on their trading journey.
Economy
Ibeto Customs, Police Renew Joint Security Pact for Efficiency, Safety
By Adedapo Adesanya
The Nigeria Customs Service (NCS), Ibeto Seaport and Terminals Command, Port Harcourt, and the Nigeria Police Force have renewed their commitment to joint security operations at the nation’s maritime corridors, following a strategic meeting between top officials of both agencies.
According to a statement, the renewed partnership came as the Commissioner of Police, Eastern Port Police Command, CP Shuaibu Audu, paid a working visit to the Customs Area Controller, Comptroller Usman Yahaya, at the Command headquarters on April 17, 2026.
The engagement, according to a statement by the Command’s Public Relations Officer, Chief Superintendent of Customs Tangwa Emmanuel, was aimed at strengthening inter-agency cooperation and boosting operational efficiency within the port environment.
Speaking during the visit, Comptroller Yahaya described the engagement as significant, stressing that sustained collaboration among security agencies remains critical to safeguarding national assets and ensuring seamless port operations.
This visit is timely and highly appreciated. It reflects the importance of sustained cooperation among agencies entrusted with the security of our nation and the protection of critical economic assets,” he said.
He assured the police boss of Customs’ readiness to maintain strong working relations with the Eastern Port Police Command.
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities,” Mr Yahaya added.
The Customs Area Controller noted that the synergy between both agencies has continued to play a vital role in maintaining order, facilitating legitimate trade and curbing criminal activities within the port system.
This was contained in a statement shared via the Customs official X handle.
Customs and the Police share common responsibilities in safeguarding the port environment. Synergy remains the cornerstone for achieving our collective mandate,” he stated.
He also briefed the visiting Commissioner on the operational relevance of the Ibeto Seaport and Terminals Command, reiterating the Command’s commitment to strengthening maritime security.
On his part, CP Audu said the visit was part of efforts to consolidate existing ties between the Nigeria Police Force and the Nigeria Customs Service.
“My presence here today is to reinforce the cordial relationship between the Nigeria Police Force and the Nigeria Customs Service. No organisation can function effectively in isolation,” he said.
He emphasised the importance of sustained collaboration among security agencies, particularly in securing the nation’s ports, which he described as vital to economic stability.
Synergy among security agencies is essential to addressing emerging threats. Our ports are strategic national assets, and we must work together to keep them secure,” Mr Audu stated.
The police commissioner also sought continued support from Customs officers in advancing shared security objectives.
Economy
Tinubu Removes Wale Edun, Elevates Taiwo Oyedele as New Finance Minister
By Modupe Gbadeyanka
Mr Taiwo Oyedele has become the new Minister of Finance and Coordinating Minister for the Economy after the exit of Mr Wale Edun.
This announcement was made on Tuesday by the Office of the Secretary to the Government of the Federation via a statement signed by Mr Yomi Odunuga, the Special Adviser of Media and Publicity to the Secretary to the Government of the Federation, Mr George Akume.
It was disclosed that President Bola Tinubu approved the removal of Mr Edun as Finance Minister as well his counterpart in the Housing and Urban Development Ministry, Mr Ahmed Musa Dangiwa.
According to Mr Akume, “These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”
In approving the cabinet reshuffle, the President has fully exercised his powers as conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended), he added.
Before this minor cabinet reshuffle in the membership of the Federal Executive Council (FEC), Mr Oyedele the Minister of State for Finance.
Mr Muttaqha Rabe Darma has now been named as the ministerial nominee and minister designate for the Housing and Urban Development Ministry.
Mr Tinubu thanked the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours, reminding others that “the process of reinvigoration shall be continuous.”
Economy
Dangote Eyes Crude Oil Production to Ease Shortfalls
By Adedapo Adesanya
The Dangote Group has announced plans to begin its own crude production, to help cover shortfalls in local crude feedstocks, in the coming weeks through its upstream assets.
According to Mr Devakumar Edwin, the Vice President of the Dangote Group, the company has commenced early testing on crude from its Niger Delta licenses.
In an interview with Platts, part of S&P Global Energy, the official said the company has already begun standard well testing and is preparing to scale up output.
“We have opened a well and begun standard testing, which should be completed in the next three to four weeks, maximum.
“After that point, oil can start to be pumped in larger volumes, and the company can begin work on drilling new wells,” he said.
Also speaking, Mr David Bird, the chief executive officer (CEO) of the Dangote refinery, said the upstream assets could provide a more stable crude supply for the refinery.
“Alongside its upstream interests, the company is seeking to establish its own shipping presence to help reduce logistics costs and improve the reliability of its crude sourcing,” Mr Bird said.
While confirmation has come from the company, the Nigerian government or the Nigerian National Petroleum Company (NNPC) Limited is yet to officially confirm the development.
The 650,000 barrels-per-day facility has been able to get enough feedstock locally under the federal government’s Crude-for-Naira initiative, leading it to source crude from international markets at a premium, which is partly responsible for the high cost of petrol and other fuels.
However, in April 2026, the NNPC said it would increase its crude supply to Dangote Refinery to seven cargoes.
The refinery, on several occasions, has stated it sources the majority of its crude oil outside Nigeria despite being the country’s Naira-for-crude sale deal.
Last month, it said the NNPC only gave it four to five cargoes, which is less than 50 per cent of expected volumes. The majority of Nigeria’s crude is tied to joint ventures with international oil companies.
With the latest development, it would help reduce the dependency on international crude as well as allow Dangote to ease some of its import costs.
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