Best Cryptocurrency Exchanges For Beginners

Before picking a cryptocurrency exchange, you should first consider a few key elements such as security, fees, reputation. The below-listed exchanges offer some of the greatest combinations of these elements and you should make sure to check them out.

A tip for all the beginners is to always use a strong password, never share it and use two factor authentication. These kinds of level of security are essential for cryptocurrencies if someone tries to break into your account.

1. CEX.io

This exchange will allow you to purchase bitcoin with a credit card, cash or SEPA transfer. They have low trading fees of 0.2% and operate in many countries around the world. The verification process can be a little extensive.

CEX (additionally prominently known as CEX.IO) has been around since 2013. This altcoin trade has a significant ruling nearness and is especially known for the way that it bolsters Credit Card installments. CEX at first began off as a Bitcoin exchanging and cloud mining stage, however, has since ventured into turning into a legitimate, undeniable Altcoin trade.

CEX has a high exchanging volume and offers various levels of record checks. The most abnormal amount of checked records can make substantial exchanges consistently. Their day by day store and withdrawal confine is 10000$ every day and 100000$ every month! This makes CEX extraordinary compared to other altcoin exchanging stages for the individuals who bargain in huge sums.

2. Bittrex

Bittrex is on the list of the 10 largest crypto exchanges and there’s a reason behind that. Bittrex supports a lot of coins that other exchanges don’t. The platform’s team recently worked on a new interface that is simpler and easier to use because they were getting lots of complaints from users that the interface was incredibly confusing. They listened to their users and changed the interface after three years of using the same one.

Bittrex offers fast deposits and withdrawals, quick processing of transactions and regular updates. The platform has a lot of users and therefore must provide excellent customer support. Bittrex runs a dedicated support page and is also very active on all major social media. Also, the platform provides fast access to almost every known cryptocurrency so customers can easily trade and also pay small fees by 0.25 percent on all trades.

3. GateHub

Gatehub is not only a Ripple exchange. It also works as a Bitcoin and Ethereum wallet. It makes it possible for users to exchange and store cryptocurrencies. It works with private keys and passwords that are heavily encrypted.

What is most amazing about GateHub is its ability to access your wallet even if you forget your private key. You can access it via other platforms. Of course, this may concern some users that this might be easy for hackers to attack your wallet, but it is highly unlikely since the hacker would need a two-factor authentication to log in.

4. BitStamp

Bitstamp is one of the first exchanges in the world. It’s based in Luxembourg and it’s one of the first digital asset exchanges in the entire EU. Bitstamp announced that they would start XRP trading in January 2017, and so they did. The first month of the membership is fee-less. Of course, as with any other good product, with the increasing demand, the prices changed.

BitStamp doesn’t offer separate fees for market makers and the usual trading fees vary from 0.10% to 0.25% based on the trading volume. Also, Bitstamp charges a $10 fee for debit card withdrawals and 2% for withdrawals above $1,000. Clients from Europe can use the Single Euro Payments system and get free deposits and pay 0.09 for withdrawals.

People in the EU recommend Bitstamp because it has less than 0.25% fees and also they can deposit Euros with SEPA without any charge. The great thing about it is that it is licensed. You can buy XRP here with Euros or dollars. They offer great, transparent and efficient services.

5. Gemini

Gemini is a New York-based exchange but it’s also very popular in South Korea, Singapore, and Canada. It’s trustworthy and has some of the lowest fees in the US. It can be a little confusing at first and also it’s not available for every state in the US.

6. WhaleClub

This platform serves more than 15.000 users every day. This exchange doesn’t charge fees when it comes to deposits or withdrawals and they also don’t have any kinds of limits. The trick is however, they only accept crypto deposits so before you start trading here, you must own some bitcoins. Standard open book trading is not available. The platform has one of the best and most user-friendly interfaces so everyone can easily use it and it is also very fast.

Because of the simple interface, WhaleClub is a perfect exchange for beginners and their support team is also amazing.

7. Coinbase

You already know that this is the most popular and transparent exchange. It’s probably the easiest way to buy them and also very fast. You can use your credit or debit card to buy bitcoins and you will be charged 3.99% fees for your purchase.

Though the fee is somewhat high, you will get your coins in a matter of seconds. If you purchase them via bank transfer, the fees a lower but you will wait more than 3 days to complete the transfer. It’s most recommended for newcomers and has a high liquidity.

8. Bit2C

In a world full of crypto exchanges, Bit2C is proudly standing as one of the most dominant local exchanges – active in the Israeli market and offering crypto trading in several digital assets against the local fiat currency, ILS.

There is no coin-to-coin trading. Regarding commissions, the fixed commission for Bitcoin is 0.001 BTC, for Bitcoin Cash it is 0.0001 BCH, for Bitcoin Gold it is 0.0001 BTG and for Litecoin it is 0.02 LTC accordingly.

All in all, Bit2C gives the Israeli population a great chance to trade crypto. As an exchange that is developed in Hebrew, it is an entry-level domestic service which offers crypto trading in most of the altcoins against Israeli shekels – and one that works with local bank transfers.

9. BitMex

BitMEX only accepts deposits via Bitcoin which later can be used to buy many other cryptocurrencies. The platform specializes in financial operations such as margin trading that is actually trading with leverage. It is currently unregulated in any jurisdiction. If you would like to create an account on BitMEX, you would first need to register to the website via an email address which pretty much covers the anonymity aspect of registration. The address still has to be genuine because users will need to confirm the registration.

The widgets on the platform can change according to the user’s preferences thus allowing all users to have full control. This exchange uses an auto-deleveraging method that makes sure that liquidated positions are able to be closed in a volatile market. BitMEX has an Android app only which is not even official so it’s recommended that users use it on their desktop.

10. Poloniex

Another significant player with regards to the best altcoin exchanges, Poloniex has made a significant name for itself in the course of recent years. The altcoin exchanging stage won’t be as apprentice benevolent as some different alternatives said on this rundown, yet it is surely one to consider for the individuals who have been exchanging for some time. Poloniex offers an incredible stage with regards to looking at different cryptocurrencies and dissecting them actually.

All in all, Poloniex has an amazing measure of offerings in store for the individuals who get a kick out of the chance to perform a specialized investigation on their altcoin possessions.

11. Mycelium Local Trader

Mycelium helps you to find all the local bitcoin sellers in your area. There are no fees involved but the one major downside is that users in low populated areas will have a hard time finding sellers since you meet up in person to conduct the trade. It’s easy to use and cheap to buy bitcoin with cash.

12. Luno

Luno is a great exchange platform that makes trading Bitcoin and Ethereum against fiat currencies possible. Luno allows bank transfers with very low fees of .25%. Also, what’s cool about it is that Luno has its own Android app which you can also find it on the Apple Store too so it’s easy to buy and trade for both iOS and Android users.

It is extremely simple to use and this is what it makes Luno a beginner-friendly platform for crypto trading.

13. Bitso

Bitso is one of the largest exchanges in Mexico and also one with the longest time on the market. The founder of Bitso even met with the Mexican government to try and implement bitcoin into the national economy. In order to purchase bitcoin here, you will need ID verification and you can use your Visa or MasterCard to purchase BTCs. The one problem is that you can’t actually buy BTC with USD or EUR, only pesos are accepted.

However, despite not being able to buy Bitcoin with USD and EUR, the platform is extremely user-friendly and it is recommended for beginners. First time crypto traders can go around the website and even contact the team and get an explanation about everything you need.

14. Binance

Binance is a crypto exchange that is based in Malta and is an exchange with some of the lowest fees per trade at 0.05%. Binance is available in English, Chinese, Spanish, Russian and many more languages and supports lots of coins. With Binance you can convert your coins into almost every other altcoin.

Despite being the world’s most popular crypto exchange, Binance is not only for experienced users. New users are welcome on the platform and can easily navigate around it. Their support team is excellent and you can always contact them for more information. Binance is an exceptionally secure stage and gives an extraordinary, slack-free client encounter. As such, it additionally has applications for iOS and Android which can be utilized to check your portfolio and exchange.

15. Bitfinex

This is one of the most popular Bitcoin exchanges. They accept fiat deposits too. They use the make-take fee model with fees starting at 0.1% for the maker and 0.2 for the taker. Bitfinex offers many trading options and it is very sophisticated.

Bitfinex is a large platform with millions of daily trades and it is one of the most popular among crypto users. Don’t let that discourage you if you are a new user in the crypto world. You can easily go around the website and learn quickly how everything works.

16. Paymium

This exchange is not based in the UK but it provides services for UK citizens. It was actually the first European Bitcoin exchange established in 2011. Customers can purchase bitcoins via wire transfer or credit card but for all amounts over 2,500 EUR, ID verification is required.

Paymium is one of the most popular exchanges in the UK and it is popular just because of its simplicity. It is extremely popular among beginners and it is recommended for all crypto users.

17. Coinbase PRO

Coinbase PRO is one of the largest Bitcoin exchanges in the U.S but also very popular in Australia as well. Users can purchase bitcoin via bank transfer or bank wire. Coinbase PRO has decent prices and low fees but it can be a little difficult to use for beginners. You can buy bitcoins here for exactly 0 percent fees.

The great thing about this exchange is that it’s directly connected to Coinbase which gives you a great advantage with the ease of use.

18. Coinmama

Coinmama is one of the exchanges that allow you to buy bitcoins without verifying your identity. In order to do that, you need to buy less than $150 worth of bitcoins. This makes small purchases very easy. Users can buy bitcoin with a debit or credit card with a 6% fee. It’s reliable and transparent. It is, however, one of the more expensive bitcoin brokers.

Despite being one of the most expensive brokers, it has an extremely user-friendly interface and their support team is amazing. It’s recommended for beginners but more experienced users enjoy it as well.

19. GDAX

Also known as Global Digital Asset Exchange, GDAX is one of the world’s most popular cryptocurrency exchanges – run by the same company that owns Coinbase which is the most popular crypto exchange in the world. In a way, GDAX is a child of Coinbase. While both of the exchanges are direct rivals providing the same functionalities, for many investors GDAX is the go-to form of crypto trading.

Possibly one of the largest exchanges in the USA. GDAX offers low fees, good prices and you can make purchases via bank transfer. It has a relatively difficult interface so it can be quite confusing, but once you get in contact with the support team, everything will be thoroughly explained to you and you will get to know GDAX quickly.

20. HitBTC

HitBTC is a crypto exchange that is active since 2014 and it is a really popular one. Users love it mainly because of the low fees and that opportunity to get a rebate for creating liquidity on the exchange.

Taker fees start at 0.10% which is a pretty good deal on its own but if you are a market maker instead of paying fees, you will earn 0.01%. Another great aspect of HitBTC is that is incredibly beginner friendly. Those who are new to the crypto world can often feel overwhelmed and confused when they start trading but with HitBTC everything is made simple and extremely understandable.

Also, despite the ability to trade major cryptocurrencies here, you can use fiat currencies as well.

Conclusion

There are plenty of exchanges on the market that may be beginner friendly but some may be risky or a little bit scam-ish. This doesn’t necessarily mean that if you choose an exchange that is not on this list it would be a bad choice. Also, make sure you check your local exchanges depending on where in the world you are.

You can use any exchange you want but if you live in the US and you want to start trading, it is maybe the best idea to start using a popular broker or exchange that has a good reputation and it is extremely beginner friendly. If that is your only criteria, this list is definitely for you.

If you want to verify what this list is claiming, check CoinMarketCap’s website and take a look at all of the exchanges with the most Bitcoins moved on to it. The bottom line is, start with something popular and familiar and after you get familiar with the crypto exchanges, explore your other broker options and find the perfect choice for you.

Start simple and work your way up!