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Crypto Exchanges for Beginners 2024

By Editorial Board

Last updated: Jun 4, 2024 • 3 Min Read

Overview

Let’s delve into the top 10 crypto exchanges for beginners that simplify the trading process and make it accessible for those new to the world of digital currencies.

Coinbase
Binance
Kraken
Gemini
Crypto.com
eToro
Bitstamp
CEX.IO
Bitfinex
OKX
Table of Contents

Introduction

The world of cryptocurrency can be daunting for newcomers, often appearing complex and technical. This perception can discourage many potential investors from diving into the market. Recognizing this barrier, many exchanges have designed platforms with features tailored specifically for beginners, offering a more intuitive and user-friendly experience. Let’s delve into the top 10 crypto exchanges for beginners that simplify the trading process and make it accessible for those new to the world of digital currencies. Whether you’re just starting out or looking for an easy-to-use platform to trade your first cryptocurrencies, these exchanges are perfectly suited to help you get started on your crypto journey. Get ready to discover the best platforms that will make your entry into cryptocurrency smooth and straightforward!

10 Top Crypto Exchanges for Beginners

Coinbase

Coinbase

Coinbase Loigo
★★★☆☆
3.5/5

Founded in 2012 and headquartered in San Francisco, Coinbase is one of the most well-known cryptocurrency exchanges globally. Its intuitive platform offers a straightforward way for beginners to buy, sell, and manage their cryptocurrencies. Coinbase also provides various educational resources that help new users understand the basics of cryptocurrency trading.

Why We Chose It

We chose Coinbase as the best exchange for beginners because of its user-friendly interface and extensive educational resources, which make it easy for newcomers to understand and trade cryptocurrencies.

Pros
  • Easy to use
  • High liquidity
  • Strong security features
Cons
  • Limited altcoin selection
Open AccountRead Review

Binance

Binance

Binance Logo 3
★★★★☆
4.5/5

Launched in 2017 and headquartered in Malta, Binance has quickly become one of the largest cryptocurrency exchanges by trading volume. Its platform offers a wide variety of cryptocurrencies and trading pairs, making it an ideal choice for beginners looking to explore different options. Binance Academy provides extensive learning materials that are perfect for newcomers to understand cryptocurrency trading.

Why We Chose It

We chose Binance for beginners due to its comprehensive platform and educational content. Despite its wide range of features, Binance offers a beginner-friendly interface.

Pros
  • Low fees
  • Wide variety of cryptocurrencies
  • Advanced trading options
Cons
  • Limited customer support
Open AccountRead Review

Kraken

Kraken

Kraken Logo
★★★★☆
4.5/5

Founded in 2011 and based in San Francisco, Kraken is known for its strong security measures and reliability. It offers a wide range of cryptocurrencies and competitive fees, which are beneficial for beginners. Additionally, Kraken's 24/7 customer support is an excellent resource for new users who may need assistance navigating the platform.

Why We Chose It

We chose Kraken for beginners because of its strong focus on security and comprehensive customer support, making it a reliable and safe choice for new users.

Pros
  • High security standards
  • Competitive fees
  • Wide range of cryptocurrencies
Cons
  • Slower verification process
Open AccountRead Review

Gemini

Gemini

Gemini Logo
★★★★☆
4.5/5

Founded in 2014 and headquartered in New York, Gemini is a fully regulated exchange in the U.S., providing a secure trading environment for beginners. Its user-friendly mobile app makes it easy for new users to buy, sell, and manage cryptocurrencies on the go. Gemini's strong emphasis on security and regulation ensures a safe trading experience for beginners.

Why We Chose It

We chose Gemini for beginners due to its regulated and secure environment, along with a user-friendly mobile app that simplifies cryptocurrency trading for new users.

Pros
  • Regulated and secure
  • User-friendly mobile app
  • High-security standards
Cons
  • Limited selection of cryptocurrencies
Open AccountRead Review

Crypto.com

Crypto.com

crypto.com
★★★★☆
4.7/5

After launching in 2016 and being founded in Hong Kong, Crypto.com has established itself as one of the leading global crypto exchanges. It’s now available in 90 countries worldwide and supports over 350 cryptocurrencies. In addition to offering a large number of supported assets, Crypto.com provides a vast digital asset ecosystem composed of its own blockchain, Crypto.org Chain; a native token called CRO; a crypto visa card; yield-generating crypto products; and more. What stands out the most, however, is the Crypto.com mobile app. While many crypto exchange mobile apps provide a watered-down version of the exchange’s web-based platform, Crypto.com put a strong focus on building an app that offers a wide range of products and features so users can benefit from this exchange’s ecosystem on the go. Mobile app users can buy, sell, trade, and earn interest on their crypto, as well as pay with crypto. While Crypto.com offers an impressive amount of products and features, customer support is lacking. Additionally, unless you trade at higher volumes, you will end up paying trading fees of up to 0.075%. If you are looking for an excellent mobile crypto trading experience, Crypto.com is arguably the best option thanks to its range of products and features, as well as its large number of supported assets.

Why We Chose It

We chose Crypto.com as the best mobile crypto exchange app for beginners because it provides an extensive digital asset trading and investing ecosystem you can access easily from your smartphone.

Pros
  • Supports more than 250 cryptocurrencies
  • Provides a range of cryptocurrency products
Cons
  • Poor customer support
Open AccountRead Review

eToro

eToro

eToro Logo
★★★★★
5.0/5

Founded in 2007 and headquartered in Tel Aviv, eToro is known for its social trading features, which allow users to follow and copy the trades of experienced traders. This is particularly beneficial for beginners who can learn from the strategies of more experienced users. eToro’s platform is designed to be user-friendly, making it easy for new users to get started with cryptocurrency trading.

Why We Chose It

We chose eToro for beginners due to its unique social trading features and user-friendly platform that make learning and trading cryptocurrencies easy.

Pros
  • Social trading features
  • Easy-to-use platform
  • Copy trading available
Cons
  • Higher fees for certain trades
Open AccountRead Review

Bitstamp

Bitstamp

Bitstamp Logo
★★★★☆
4.0/5

Founded in 2011 and headquartered in Luxembourg, Bitstamp is one of the oldest cryptocurrency exchanges. Its platform is designed with simplicity in mind, making it easy for beginners to buy, sell, and manage their cryptocurrencies. Bitstamp also offers reliable customer support, which is beneficial for new users who may need assistance.

Why We Chose It

We chose Bitstamp for beginners because of its straightforward platform and reliable customer support, making it easy for new users to navigate and trade cryptocurrencies.

Pros
  • Simple and user-friendly interface
  • Reliable customer support
  • High security standards
Cons
  • Limited advanced trading features
Open AccountRead Review

CEX.IO

CEX.IO

CEX.IO Logo
★★★★☆
4.5/5

Founded in 2013 and headquartered in London, CEX.IO offers a user-friendly platform that is perfect for beginners. The exchange supports a variety of payment options, making it easy for new users to deposit and withdraw funds. Additionally, CEX.IO provides extensive educational resources that help beginners understand the basics of cryptocurrency trading.

Why We Chose It

We chose CEX.IO for beginners because of its user-friendly platform and extensive educational resources that help new users understand and trade cryptocurrencies.

Pros
  • Easy-to-use platform
  • Wide range of payment options
  • Strong security features
Cons
  • Higher fees compared to some competitors
Open AccountRead Review

Bitfinex

Bitfinex

Bitfinex Logo
★★★★☆
4.0/5

Founded in 2012 and headquartered in Hong Kong, Bitfinex offers a comprehensive platform that supports a wide range of cryptocurrencies and advanced trading features. While the interface may seem complex at first, Bitfinex provides robust customer support to help beginners navigate the platform. This makes it a suitable choice for new users who are willing to learn and explore advanced trading options.

Why We Chose It

We chose Bitfinex for beginners due to its comprehensive platform and robust customer support, which make it easier for new users to navigate the complexities of cryptocurrency trading.

Pros
  • Wide range of cryptocurrencies
  • Advanced trading features
  • Strong customer support
Cons
  • Higher fees for smaller trades
Open AccountRead Review

OKX

Coinbase

Coinbase Loigo
★★★☆☆
3.5/5

Founded in 2012 and headquartered in San Francisco, Coinbase is one of the most well-known cryptocurrency exchanges globally. Its intuitive platform offers a straightforward way for beginners to buy, sell, and manage their cryptocurrencies. Coinbase also provides various educational resources that help new users understand the basics of cryptocurrency trading.

Why We Chose It

We chose Coinbase as the best exchange for beginners because of its user-friendly interface and extensive educational resources, which make it easy for newcomers to understand and trade cryptocurrencies.

Pros
  • Easy to use
  • High liquidity
  • Strong security features
Cons
  • Limited altcoin selection
Open AccountRead Review

Mini Guide: How to Choose the Best Crypto Exchange for Beginners

  • Selecting the right cryptocurrency exchange is crucial for a smooth and successful start in your crypto journey. Here’s a mini guide to help you choose the best crypto exchange that suits your needs as a beginner:
Ease of Use
  • User-Friendly Interface: Look for exchanges with intuitive and easy-to-navigate platforms. A clean, simple design will make it easier for you to buy, sell, and manage your cryptocurrencies.
  • Mobile Accessibility: If you prefer trading on the go, check if the exchange has a robust mobile app with all the necessary features.
Security
  • Strong Security Measures: Ensure the exchange employs robust security practices, such as two-factor authentication (2FA), encryption, and cold storage for funds.
  • Regulation and Compliance: Opt for exchanges that are regulated and comply with local laws, as they tend to have better security and transparency standards.
Customer Support
  • Reliable Support: Choose an exchange with good customer support, offering multiple channels like live chat, email, and phone support. Reliable support can be invaluable when you encounter issues or have questions.
  • Help Resources: Look for exchanges with comprehensive help centers, FAQs, and tutorials that can assist you in navigating the platform.
Educational Resources
  • Learning Materials: The best exchanges for beginners provide educational content, such as tutorials, articles, and videos, to help you understand the basics of cryptocurrency and trading strategies.
  • Community and Forums: Some exchanges offer community forums where you can interact with other users, share knowledge, and learn from their experiences.
Range of Cryptocurrencies
  • Diverse Selection: Consider exchanges that support a wide variety of cryptocurrencies, allowing you to explore different options and diversify your portfolio.
  • Stablecoins and Fiat Support: Check if the exchange supports stablecoins and fiat currencies, which can make trading and withdrawing funds easier.
Fees
  • Transparent Fee Structure: Look for exchanges with clear and competitive fee structures. Be aware of trading fees, withdrawal fees, and any other potential costs.
  • Fee Discounts: Some exchanges offer fee discounts based on trading volume or by using the exchange’s native token, which can be beneficial as you trade more.
Payment Methods
  • Multiple Payment Options: Choose an exchange that supports various payment methods, such as bank transfers, credit/debit cards, and PayPal, making it easier to deposit and withdraw funds.
  • Convenience and Speed: Consider the convenience and speed of the payment methods offered, as some may be faster or more convenient than others.
Reputation and Reviews
  • User Reviews and Ratings: Research the exchange’s reputation by reading user reviews and ratings on independent websites and forums. This can give you insights into the experiences of other beginners.
  • History and Track Record: Look for exchanges with a solid history and track record of reliability and security.

By considering these factors, you can choose a cryptocurrency exchange that provides a secure, supportive, and user-friendly environment, making your entry into the crypto world as seamless and enjoyable as possible.

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