Cryptocurrency exchanges for beginners TOP 10: recommendations for trading and choosing a crypto exchange for beginners

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For those who are just starting to get acquainted with cryptocurrencies and crypto trading, it is best to start with cryptocurrency exchanges for beginners, which are optimized as much as possible for inexperienced users. By themselves, trading platforms have a rather complex mechanism, and the wrong action can lead to loss of funds. It is important to understand how everything works, and for this, the crypto exchange must have a friendly, understandable interface, a lot of reference information, and responsive technical support.

The Btcnewsweb.com editors have highlighted the 10 best cryptocurrency exchanges for newbies:

  1. Binance.
  2. Currency.com.
  3. OKEx.
  4. EXMO.
  5. Bybit.
  6. Crex24.
  7. FTX.
  8. Huobi.
  9. Kucoin.
  10. Payeer Exchange.

What are crypto-exchanges and what they are

Cryptocurrency exchanges are online platforms designed to exchange cryptocurrencies one against another or for fiat money. Applying different classification criteria, several main types of such sites can be distinguished:

Spot. Traditional sites, where prices are set based on the balance between supply and demand, and the purchased asset is immediately credited to the client’s account.

Futures. They allow you to trade contracts, on the basis of which funds will be transferred at a certain time and at a certain price.

Decentralized and centralized. The former do not store user funds, but provide a direct connection between users’ crypto wallets.

With or without fiat money support.

Without verification and with it.

Whichever cryptocurrency exchange you choose, you need to secure your account before using it – connect two-factor authentication (this can be easily done using the Google Authenticator app), set a complex password, and take care of secure storage of backup keys.

Criteria for choosing a crypto exchange for beginners

Let’s give some tips on how to choose the most secure and at the same time easy-to-learn cryptocurrency exchange for a novice user:

  1. The first thing that catches your eye is the interface. All tools should be arranged clearly and logically – often used in plain sight, rarely used “hidden” so as not to confuse the user once again. The lighter the toolkit, the less likely you are to make financial mistakes.
  2. It is advisable that the company has an official representative office in your country. This will speed up the proceedings in the event of a hacked account or loss of funds. It is also good if the technical support communicates in a language that you know well.
  3. Verification requirements. Some sites, especially those working with fiat money, allow only those users who have verified their identity with a passport to work.
  4. Supported trading pairs. Surely you already understand what you are going to buy or sell – from this and make a start. Someone is only interested in bitcoin, someone is promising altcoins from the top, someone new tokens just launched. The main thing is that the company should responsibly approach the listing and place only verified projects.
  5. Types of orders. Additional types of orders allow you to expand your trading potential and organize your trade more intelligently. For example, a stop loss order is used to automatically buy or sell a cryptocurrency upon reaching a certain market rate.
  6. Conditions for depositing and withdrawing funds. On some sites, you can withdraw only a certain amount per day, or make only one withdrawal per day. The withdrawal methods are also of great importance for beginners – many would like to receive funds directly to a card or electronic wallet.
  7. Additional functionality for managing funds. Staking or landing will help you get passive income from your capital, leverage – more profitable trading, etc.
  8. Centralization. Most of the popular sites are centralized. They are usually more convenient and easier to handle. But there are also disadvantages – you have to trust your funds to the exchange employees, to be afraid of hacker attacks or technical failures. On decentralized platforms, customers hold funds in their own wallets, which enhances security. Unfortunately, while such crypto-exchanges are only gaining popularity and there is little liquidity.

Before you start working with a crypto-exchange, do not be lazy to check its history (information about creation, team, possible hacks) and trading volume (this information is provided by the aggregators CoinGecko, Coinmarketcap, etc.). Unscrupulous sites artificially overestimate the trading volume – this can be identified by comparing the trading history and order books. If transactions are displayed in the history, but not in the order book, this is an artificial overstatement.

Rating of cryptocurrency exchanges for beginners

And now we will give specific examples of sites that meet all the requirements for cryptocurrency exchanges for beginners.

Binance

Main advantages: wide functionality, low commissions, affordable entry threshold, support for fiat money (including the ruble).

Binance exchange

Binance is objectively one of the best options for newbie traders. After analyzing thematic forums, you can see that it is advised to beginners in 90% of cases. Provides a lot of opportunities for active and passive earnings, a large number of trading options – different types of terminals, futures, leverage, p2p platforms, OTC trading for large volumes, many supported currency pairs. Beginners are advised to check the Help section more often, where all aspects and sections are described in great detail. The exchange offers users its own BNB coin (Binance coin), which makes it possible to receive decent discounts when trading.

Trade on Binance

OKEx

Main advantages: a large selection of currencies, passive income tools, a professional trading terminal

OKEx Platform for Cryptocurrencies

With the help of the OKEx exchange, both beginners and professionals can earn effectively and easily withdraw assets. When withdrawing, you can adjust the commission, if necessary, so that the transaction goes faster. It is possible to purchase many popular coins with a bank card. An extensive knowledge base will help the novice user get comfortable.

Trade on OKEx

Crex24

The main advantages: work with fiat money, the ability to conduct transactions without verification, low fees, cryptocurrency faucets.

crypto exchange Crex24

By registering on the Crex24 exchange, a beginner can receive cryptocurrency for free using the taps in the corresponding section. It is enough to click “Receive”, and the coin will be credited to the account. True, such an opportunity is available only for little-known tokens with a low cost, but nevertheless, this is an income of $ 2-3 per month. Crex24 has low deposit and withdrawal thresholds, many popular payment systems are supported, including WebMoney. There are quite a few currencies in the listing, but they are all proven and promising enough. Support promptly answers questions.

Trade on Crex24

FTX

Main advantages: different types of trading, benefits from FTT token, trading with leveraged tokens and tokenized assets.

FTX Exchange

A newbie does not need to be verified to trade on the FTX exchange. The trading conditions are very attractive, and the interface is simple and straightforward, all the main functions are divided into corresponding sections. There are passive income options where the risks are minimized to almost zero.

Trade on FTX

CEX.io

Main advantages: convenient purchase with a card, nice interface, ease of development, high security, trading with leverage

Newbie Platform CEX.io

On CEX.io, a trader is given the opportunity to earn income in many ways, ranging from rather risky crypto trading to monthly rewards from staking cryptocurrencies. Both the storage of assets on this exchange and the conduct of operations with it are as safe as possible, this is confirmed by the availability of appropriate licenses and certificates.

Trade on CEX.io

Payeer Exchange

Main advantages: simple interface, full integration with the Payeer wallet, many ways to replenish

Exchange for beginners – Payeer Exchange

The Payeer Exchange was launched by the wallet of the same name in 2019. This is a convenient option for active users of the service: there is no need to create or verify a separate account, you can quickly switch to the exchange section and exchange assets using limit orders. In the future, it is planned to expand the functionality, but for now only the most requested functions are available.

Trade with Payeer

EXMO

The main advantages: you can quickly buy cryptocurrency from a card, a Russian interface and help, a mobile application, activity in social networks.

EXMO exchange

EXMO ranks among the largest cryptocurrency exchanges in Eastern Europe. Supports over 180 trading pairs, allows you to work with fiat currencies. For a beginner who is just going to buy a crypt, there is a convenient opportunity to quickly make a purchase from a Visa or Mastercard. The interface is completely Russified, support is also in Russian. EXMO representatives actively update their blog, maintain communication with clients on forums, social networks, and accept comments and suggestions. In the process of work, you can chat with other users and quickly receive answers to questions that arise there.

Trade on EXMO

Currency.com

Main advantages: support for a huge number of assets, in addition to cryptocurrencies, work with fiat money, official regulation, leverage up to 100x, demo

exchange Currency.com

Currency exchange is one of the easiest platforms to master; there is a lot of text materials about trading strategies, tricks, risk mitigation, cryptocurrencies and tokens. It is noteworthy that there is demo trading – you can train in real market conditions without investing a penny until you are confident in your abilities. The interface is completely identical to the real one, but virtual currency is used in trading. It is possible to replenish an account from a bank card, and the minimum threshold is only $ 10. However, to work, you will need to go through verification.

Trade on Currency.com

BTC-alpha

Main advantages: support for rare tokens, demo account, low commissions, deposit and withdrawal in fiat money (dollar, euro).

exchange BTC-alpha

On the BTC-alpha exchange, a beginner has the opportunity to trade without going through account verification. The trading terminal is very user-friendly and understandable, based on TradingView charts, known for their functionality and thoughtfulness. Technical support works around the clock. The entire platform interface has been translated into Russian. Among other things, BTC-Alpha is in the TOP 15 of the safest cryptocurrency exchanges in the world. It is especially in demand among those who want to trade a new or rare token that is not supported on other platforms.

Trade on BTC-alpha

Bybit

Main advantages: simple trading interface, bonuses, demo account.

cryptoexchange Bybit

Bybit is a crypto exchange that specializes in trading perpetual contracts. Relatively new, but already with a high level of liquidity. Users, including beginners, note its high manufacturability, ease of use of the functionality, and a lot of available training materials. You can start trading with bonuses that are given for registration. The safety of users’ funds is guaranteed by an insurance fund and cold storage of cryptocurrencies. Bybit is available to work with some trading bots and provides an API to connect them.

Trade on Bybit

How to trade on the stock exchange for beginners: basics, recommendations

Having decided to trade in cryptocurrency markets, you should decide on the type (style) of trading. There are three main areas:

✅ Scalping

✅ Intraday trading

✅ Medium-term trading.

The fourth style (pipsing) can be conditionally distinguished, but every year it becomes less and less relevant, so there is no reason to consider it in detail.

Scalping

Scalping is the most profitable type of trading, which is at the same time the peak of a trader’s skill. In this case, the user is required to fully understand a large number of different factors (statistics, news background, etc.), as well as a high level of discipline and concentration.

The strategy is to perform a large number of speculative transactions in the cryptocurrency market, with the closing of the transaction every time a small profit is achieved. To implement such a strategy, it is necessary that the site has low commissions, the main instrument is highly liquid and moderately volatile. Scalpers mainly trade on one-minute or five-minute candlesticks.

Intraday trading

This is trading within one day without transferring open positions to the next day. The holding time of an asset is usually from 1 hour to several hours. In this case, different strategies can be used, many even combine 2-3 strategies with each other. Typically, intraday traders use leverage, that is, leverage, to increase profitability.

Intraday trading allows you to generate income due to the high volatility of cryptoassets. However, the same volatility creates difficulties – it is difficult to track the price all day and react to its fluctuations. For a beginner, the medium term is considered an easier choice.

Medium-term trading

This type of trading involves holding a position for a period of two days to several weeks. It is in the retention time that the main difference from the previous version lies. In fact, if a deal is postponed to the next day, then this is already a medium-term trading.

The trader’s job in this situation is to promptly search for a market situation that can give a strong price movement within a short period of time.

The choice of a trading method depends on how much time you are willing to devote to trading, on your ability to analyze the market situation, on the amount of initial capital. The easiest way, of course, is to start training in the medium term.

Conclusion

Choosing the best cryptocurrency exchange for a beginner can be a daunting task. But if you pay attention to the criteria we have listed, then everything will work out. Also remember that you are not tied to one site and can use several at once, each for its own purposes. The purpose of our review was to capture the most beginner-loyal platforms and their advantages at a glance.

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