Topic: What is the best cryptocurrency exchange for beginners - page 3. (Read 1014 times)
To be honest there is no cryptocurrency exchange for beginners . If you really want to know how a crypto exchange works without losing funds you could try exchanges that offer demo mode
Binance for me. All basic and even advance features of trading are on that exchange. Their platform is very mobile friendly too. I've been trading there since the website was established and I have not encounter any problems so far. It has also large volumes of crypto so you won't have any problem what to trade.
Exchanger is not actually determined for beginners or pros, because pro ones can still suffer losses. You can trade on any exchange but choosing a large volume exchange will make it easier for beginners to understand how the situation and conditions are when trading. for example taking advantage of the moment to buy or sell. And Of course many trader recomended binance exchange for trading.
Indeed. Whether you are a pro or beginner, they both experience and suffer from losses, so your trading strategy does not depend on the exchange you are using. I also recommend Binance exchange for trading because it is suitable for both beginners and pro and many people guarantee that Binance is a safe exchange. But some suggest Bittrex is a suitable exchange for beginners because it will be easier for them to understand trading in its user-friendly interface compared to Binance. 
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Choosing an exchange is a matter for those newbies in the market because our main goal first is to protect our funds and we can do it by choosing an exchange that have tight and good security. A good community is also a matter because in that way you can verify or get some information if the exchange is legit or not. The service of the exchange is also a factor because for sure to contact and solve the problems that we may experience. There are many poor exchanges out there who have poor services wherein your complain will take days or even weeks. When it come to verification then BINANCE is one of the best exchange that you could choose because you can deposit and withdraw their easily. OKEX is good when it comes to security but I do not like the KYC of OKEX wherein you are required to present a lot of papers in order to pass the KYC and move to the next level in terms of limit. If the newbies can search for the right exchange from many sources before he deposits his money to trade, he will not get any problem because he can find the right exchange. Whether it is KYC or not, the newbies can decide what exchange that he wants, and if he doesn't want to do KYC, he will know that Binance can be his choice because Binance gives a choice to its members not to do KYC but members will get limitations on the withdrawal.
I guess the withdrawal limitations will not be a problem for the newbies because while they are learning about trading, they can avoid withdrawing in a big amount unless they are making a big profit. They need to verify themselves to withdraw a big profit.
It depends on exactly what the beginner wants. Is it a crypto to fiat exchange, or crypto to crypto exchange? Is it a Custodial exchange (centralized exchange) or non custodial (decentralized) exchange? A beginner needs an exchange he can easily start using with minimal or no guide at all.
When choosing an exchange, one has to consider a lot of things like; security of the exchange, reputation, trading volume/liquidity, trading fee, user friendliness, etc. If it is Custodial exchange and we are talking of crypto to crypto exchange, then I do pick Binance exchange. Binance App is easy for a beginner to start using, and the web interface is also beginner's friendly. And the their customers support respond on time.
For Fiat to Crypto exchange, I do pick Coinbase.
When choosing an exchange, one has to consider a lot of things like; security of the exchange, reputation, trading volume/liquidity, trading fee, user friendliness, etc. If it is Custodial exchange and we are talking of crypto to crypto exchange, then I do pick Binance exchange. Binance App is easy for a beginner to start using, and the web interface is also beginner's friendly. And the their customers support respond on time.
For Fiat to Crypto exchange, I do pick Coinbase.
Well, If you're looking for a highly secured and high reputation exchange, then go to Binance. Binance almost made it to the fortune 500. They are
originated from silicon valley people and that fact is enough to build their reputation. Binance is the first exchange to be totally regulated. So if you're
looking for one, go with this exchange. [I would highly recommend it]
On other hand, some of my friends suggested those crypto exchange that has a copy trading feature because that is very easy for a newbie. But how did you know on your own if you will rely on others?
originated from silicon valley people and that fact is enough to build their reputation. Binance is the first exchange to be totally regulated. So if you're
looking for one, go with this exchange. [I would highly recommend it]
On other hand, some of my friends suggested those crypto exchange that has a copy trading feature because that is very easy for a newbie. But how did you know on your own if you will rely on others?
The good way of choosing the best cryptocurrency exchange starts with what you as a user do really desire on what must be the features involve on the cryptocurrency exchange that you wanted to have and of course wanted to get engage with. After analyzing what you do really desire, then go seek and have that exchange. On seeking a good exchange, you must consider (1) Security of course for we do know that it the most essential thing that an exchanger must have for we are dealing with hackers so an exchange must be safe and secured for our funds to be inputted on it. (2) Convenience because it would be so much hassle finding it difficult to navigate specially when doing transactions. (3) Reputation for there are existing scam exchanges so you better be wise on seeking reputable exchanges that suits your preference. Those were just some features and there are still a lot more. Those are only the most common and essential features you must seek on a cryptocurrency exchange.
Am I the only one who thinks if you are strictly talking about erc20 tokens, uniswap has actually become better for newbies? I know that it is limited, I know that you have to just focus on erc20 tokens and you can't trade anything else, which means if you still go with Binance it would make sense because there is all the big coins that you would want there, but if you do not mind sticking with just erc20 tokens, uniswap became the big hit.
Reason is, it is much simpler to use, you just connect your wallet there and you make any trade you want in seconds without paying much fee and you just happen to get that coin. Obviously the fee structure needs some overhaul with eth being expensive right now but it is not really that big of a deal right now anyway if you pay lower gwei.
Reason is, it is much simpler to use, you just connect your wallet there and you make any trade you want in seconds without paying much fee and you just happen to get that coin. Obviously the fee structure needs some overhaul with eth being expensive right now but it is not really that big of a deal right now anyway if you pay lower gwei.
You ask "what is a good cryptocurrency exchange for beginners" then when I read your next statement it just doesn't fit. You only discuss the rich man's fund, discuss concepts and so on. For example, you only need to enter a few well-known cryptos that you know, so that people who read will provide suggestions according to your questions. Don't even suddenly fall far short of your concept.
we must choose our convince coin and pic the high level security, and low fees exchanges so we can choose coinbase, Bittrex and Binance. Because these three exchanges are more volume platform.
Every beginner must be having their own preferences on choosing preferred exchange but those preferences should be based on level of security exchanges are offering. After security they can look for features like what are the technical tools, an exchange is offering and what are the pairs are available and then fees for trading and withdrawal should be considered.Pick something that's reliable, trusted enough (relative to how much you are investing), and provides the basic analytical tools you want in one place.
Yeah, beginners cannot handle multiple resources at the time and due to this reason it is always recommended to go for those exchanges which are rich in features and having good customer support. Being reputed must be very first criteria every beginner must be considering while listing out exchanges to begin with.
Pick something that's reliable, trusted enough (relative to how much you are investing), and provides the basic analytical tools you want in one place. You can of course use additional tools to help you make better informed decisions, but when you are just starting, it helps to keep things simple and in one place.
the most important thing for beginners must be security and the stability of the crypto currencies. this is money we are talking about. it is not a joke. peoples lives are put into this money.
beginners must try a cryptocurrency that is nor full of risk. also they should learn not to trust any one in this business since there are lots of scams here
beginners must try a cryptocurrency that is nor full of risk. also they should learn not to trust any one in this business since there are lots of scams here
For beginners it is good to go with Binance, because most of the trades get executed within minutes because of its increased volume. Also it is quite an easy thing to understand and create a buy/sell order. With almost every exchange the trading pattern is same. The difference is out of the volume and the execution. Also Binance provides with the best support compared to other cryptocurrency exchanges.
As far security is concerned Binance is my first choice. There is no competitor of Binance in crypto space when we talk about daily volumes and liquidity. Also Look at number of alt coins listed on binance.
Yes, I agree. Binance can be the choice for beginners. Binance has a big list of altcoin which he can choose to trade or to invest. But if you have a local exchange, then I suggest you try your local exchange because your local exchange should have an office to operate the exchange, and if something happens, you can easily contact your local exchange. You can also try to trade on Kucoin exchange, Poloniex, and Bittrex if you want to find another trading experience. But in Poloniex and Bittrex, you have to verify yourself by sending the document to them. In this matter, Binance will be the best choice for beginners because they can skip the verification process.
As far security is concerned Binance is my first choice. There is no competitor of Binance in crypto space when we talk about daily volumes and liquidity. Also Look at number of alt coins listed on binance.
Yes, I agree. Binance can be the choice for beginners. Binance has a big list of altcoin which he can choose to trade or to invest. But if you have a local exchange, then I suggest you try your local exchange because your local exchange should have an office to operate the exchange, and if something happens, you can easily contact your local exchange. You can also try to trade on Kucoin exchange, Poloniex, and Bittrex if you want to find another trading experience. But in Poloniex and Bittrex, you have to verify yourself by sending the document to them. In this matter, Binance will be the best choice for beginners because they can skip the verification process.
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In the light of the recent exchange hacks and data breach, I would suggest that beginners use trustworthy exchanges only to make their trades especially the less controversy ones like Binance and ftx.
If you're basing your judgement on hacked exchange, then Binance can't be mentioned as your best pick as they have been previously hacked just few months back although theirs didn't cause much of a panic in the community since they already had measures set up to help in situations like hack. They had (and probably still do have) an insurance policy to help when the exchange is in crises.
You can read more on the hack here; Hackers Stole $40 Million from Binance Cryptocurrency Exchange. This isn't some cheap shot to fud on Binance but when exchange capable of withstanding hacks are debated on, no centralized exchange should be the prefer choice as they're all vulnerable.
Decentralization exchange should come into mind instead and not those merely posing as dex when actually aren't. Those are the so called dex getting hacked because a typical dex shouldn't hold your funds.
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The simple conclusion is – the best cryptocurrency exchange for a beginner is a service that lets you easily choose the best options and see the full picture.
This is a bad conclusion, I got it from the link you posted up there. The first thing to consider while choosing an exchange is the security, no matter the best option or the full picture of an exchange you noticed, if it is not secure, the exchange will not last for long. Then, the second can be the ease of use. Also in the link or site, there is no single exchange that was mentioned. The best exchanges I have used are hodlhodl and bsiq, but I have used binance also during complex trading types, especially for future trading orders. As a newbie of course, you will use the platform exchange where you know to yourself that you comfortable to use it, even you knew that your knowledge and idea is not yet enough for a beginners. But of course, it is still need to study and gain a lot of idea about in crypto trading. And it is also still to begin with the exchange that are listed on top in the market of course.
I think Binance will be good option to trade as beginner. The fees on binance is not so high and it is user friendly. Besides, there is strong security system.What I noticed also with BNB is the price gap between sell/buy order is not so wide. Actually, very close. I think at the moment, Binance is one of the secure exchanges to deposit your funds because they have SAFU in place also. And if you look at their withdrawal fees, they are relatively cheaper than most. But still, it is up to the trader what features he's looking for and what coins he's going to trade with. Because some coins or tokens are not being traded with Binance.
Well, -- if you want to look for the best exchange, then you have to consider the keypoints of choosing one. Reputation and Security are the two things you must consider choosing. There is a lot of exchanges right there, couldn't name them but I can assure you, consider the two keypoints and you'll find the best. I myself only consider exchanges that will let my autopilot. As long as security and reputation are strong I'm very good to go. I just consider exchange as my store of value. Doesn't look for high profits anyways. That's not how life works for me.
All exchange is good for beg8nner and proffesional trader because almost exchange have the same price and bot have different coin price from one exchange to other exchange. Before choosing an exchange for trading you should know does available to witdraw fund to yoir bank account or not. Many exchnage market global is not support withdraw to your bank and you need looking for another exchange market to withdraw your fund to be cash money. Binance last moment available withdraw fund to our bank but last several week have suspend for witjdrawing and wr can't withdraw to bank now.
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