The Best Crypto Exchanges for Beginners

The Best Crypto Exchanges for Beginners

There are a lot of different crypto exchanges out there, and it can be tough to know which one is right for you. If you're just getting started in the world of crypto, you might want to consider a few things before choosing an exchange.

First, what kind of currency do you want to trade? There are many different coins and tokens available, so you'll need to make sure the exchange offers the ones you're interested in.

Second, what's your budget? Some exchanges have higher fees than others, so you'll need to factor that into your decision. Finally, what's your level of experience? Some exchanges are more user-friendly than others, so if you're not super tech-savvy, it might be worth choosing a simpler platform.

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Top 6 Exchanges to Get Started

With all that in mind, here are a few of the best crypto exchanges for beginners

Best for Beginners

Coinbase

Coinbase is one of the most popular cryptocurrency exchanges and allows you to buy and sell Bitcoin, Ethereum, Litecoin, and more. You can also use Coinbase to store your cryptocurrencies. Coinbase Global Inc. is listed on the NASDAQ exchange.

Founded: 2012

Crypto Wallet: Yes – Coinbase has its own crypto wallet.

Assets Available: over 3,000 crypto assets like Bitcoin and Ethereum, they also offer a Coinbase Visa debit card.

Location: Available in 100+ countries.

Security: High levels of security designed to protect users (two-factor authentication / cold storage – meaning assets kept offline making it impossible to hack and the Coinbase Vault).
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Tax on profits may also apply.
Best for Bitcoin/ Stocks and Beginners

Cash App

Cash App is a peer-to-peer payment app that allows users to send and receive money with friends and family. The app also allows users to buy and sell Bitcoin. Cash App is a subsidiary of Square, Inc., a financial services, merchant services aggregator, and mobile payment company based in the United States.

Founded: 2018

Crypto Wallet: Yes

Assets Available: Bitcoin and traditional stocks

Location: U.S. and some features available in the UK

Security: PCI Data Security Standard (PCI-DSS) Level 1 compliant
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Tax on profits may also apply.
Best for Social Trading and Beginners

eToro

eToro is a leading social trading and investment platform and crypto broker with over 10 million registered users from more than 140 countries. The company offers a unique and innovative way to trade and invest in a variety of assets, including cryptocurrencies.

Founded: 2007

Crypto Wallet: Yes – eToro Money Crypto Wallet

Location: Available in 140+ countries.

Security: Levels of security designed to protect users (two-factor authentication).
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Tax on profits may also apply.
Best for Security

Gemini

Gemini is a Pro Level digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin and ether. Gemini is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS).

Founded: 2014

Crypto Wallet: Yes – Gemini has its own crypto wallet.

Assets Available: over 75 + crypto assets and offer a Gemini Mastercard

Location: Available in 60+ countries.

Security: High levels of security – Gemini is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS).
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Tax on profits may also apply.
Best for Low Fees

Kraken

Kraken is a digital asset exchange platform that allows users to buy and sell cryptocurrencies via a simple interface. The platform also offers margin trading and other advanced features for experienced traders. Kraken is one of the largest cryptocurrency exchanges in terms of trading volume.

Founded: 2011

Crypto Wallet: Yes

Assets Available: 185 cryptocurrencies for spot trading

Location: 190+ countries

Security: Levels of security designed to protect users (two-factor authentication).
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Tax on profits may also apply.
Best for Experienced Investors

Binance

Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It’s relatively low in fees and offers wide range of cryptocurrencies.

Founded: 2017

Crypto Wallet: No

Assets Available: 150+

Location: 100+ countries

Security: Levels of security designed to protect users (two-factor authentication).
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Tax on profits may also apply.

Should you choose a Crypto Exchange or Broker?

There are a few things to consider when choosing a crypto exchange or broker. Both will let you buy crypto, although each has different pros and cons. There are more than 300 crypto exchanges and only you can decide which is best for you.

What is a Crypto Exchange?

A cryptocurrency exchange is a platform where users can buy and sell cryptocurrencies. Some exchanges also allow users to trade fiat currencies, such as US dollars, for cryptocurrencies. Cryptocurrency exchanges typically charge a fee for each transaction and have advanced charting tools which can be a little daunting for newbies.

Buy and sell crypto
Complex interfaces can confuse new users
Low fees
Advanced charting can be intimidating
Advanced charting tools

What is a Crypto Broker?

A crypto trading broker also allows you to buy and sell cryptocurrency and normally has a simple interface, reducing the complexity with a friendly “look” and easier on the eye for newbies. Most platforms also allow you to trade other assets, such as stocks, commodities, and forex, however, fees are normally more expensive. 

Simplifies crypto charts
Higher fees compared to exchanges
Easy-to-use interface
Restrictions on moving crypto holdings
Tends to be easier for newbies
Check the small print for hidden costs

Other factors to consider before making your decision

Here are a few things to consider when choosing an exchange:

Geographical location: Some exchanges only operate in certain countries. Make sure the exchange you choose is available in your country.

Payment methods: Different exchanges accept different payment methods, such as credit/debit cards, bank transfers, or PayPal. Choose an exchange that accepts the payment method you want to use.

  • fees: exchanges typically charge fees for each transaction. These fees can vary greatly from one exchange to another, so be sure to compare before making your decision.

Security: When it comes to handling your money, security should be your top priority. Make sure the exchange you choose has implemented adequate security measures, such as 2-factor authentication and cold storage.

All Crypto Exchanges are listed on the CoinMarketCap. 1CoinMarketCap https://coinmarketcap.com/rankings/exchanges/

Risk Disclaimer

need to rewite There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.

Why Trust Us?

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At ForexBrokers.com, our reviews  and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score).

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.

Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.

Read our full explanation and accounting of our research and testing process to learn more about how we test

Sources & References

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    CoinMarketCap https://coinmarketcap.com/rankings/exchanges/
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