Topic: What is the best cryptocurrency exchange for beginners - page 4. (Read 1014 times)

Although when the issues of best exchanges are been debated, we can go on and on to list the exchange of our preference but the user in position to make this decision choices and needs should always be considered fast as it's necessary what he/she intend using the exchange for that actually matter and not all the features we speak about.

Nevertheless what you highlighted above shouldn't be more in the discussion unless the OP has interested in withdrawing his profit directing to his/her local currency account. In that case they have to look towards local exchanges and not much of the global exchanges but when the exchange are fixed at global exchanges for trading purpose than users friendly interphase, easy communication via customer service and security has to become the first priority over other features

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.

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.

There are different pros and cons of exchange, so the best exchange, so the best exchange for one person may not be the best for another, for quite some time now, I have used and trusted this exchange and it has not failed me. Kucoin is one of its generation's growing crypto currency exchanges, offering various platforms and activities that we will surely enjoy. It's a must try swap for cryptocurrency.

It is very important for newbies to choose the best cryptocurrency exchanges, because using the best cryptocurrency exchanges will
make it easier when trading. There are many things that must be considered when we define cryptocurrency exchanges, including
security, reputations, volume, popularity, trading features, easy to use and fees. And of all the criteria I mentioned Binance exchange
meets these criteria and is very suitable for use trading by newbies.

If you are newbie and you want to deal with regular btc/usdt type of deals I would suggest coinbase and kraken they are very known and they are very good at what they are doing as well, you would be at very safe hands when using them. Obviously if you are not capable of doing USD deposits and from another nation that has trouble with swift type of deals that would mean you have to pick something from your own nation and we can't suggest any about that.

However if you want bitcoin versus alts as a newbie that is definitely binance without a doubt. I do not agree with people saying everyone should pick the ones they like and all, binance is a great gateway to start and after that you could change however you want. Uniswap on the other hand is getting very famous for DEX reasons and if you are newbie that can understand that, it could be potentially very great for you as well.

You have noticed correctly and the qualities you have voiced are very important, not only for beginners. On my own, I would add more reliability, since any user or trader trusts the platform with their money. I think no one wants to repeat the story of mt.Gox and the like. Also, I want to add that any beginner needs to make his own choice after looking at the various cryptocurrency exchanges. Try on your own experience several platforms and choose the one that you like best. For example, beginners can read the reviews here: https://cryptototem.com/binance-review/. This will reduce the time spent looking for best crypto exchange and cut off the unsuitable ones at an early stage.

The first thing you should keep in mind when it comes to exchanges is its security, liquidity, elegant interface and good support system. I can suggest that one of the best cryptocurrency exchange is binance.

Binance is an exchange of cryptocurrencies that provides a platform for trading different cryptocurrencies. The exchange fee is really competitive, smooth and fast, compared to other existing major exchanges. Binance has gained a lot of popularity in a short period of time and is is because of the low and competitive exchange fees.

The last time i checked it not all cryptocurrency exchange that is good for beginners because there are not exchange that provided tips and how to make a successful trade for every new user while some have crypto academy features where newbies can learn before trading.

There cannot be any big differences for beginners from rest of crypto people hence all the best exchanges are good to go with even in the beginning days. I have not come across an exchange which is built for beginners of crypto space. All the exchanges are being built for traders and the features are usually focusing the ease-to-use for a trader's perspective.

Moreover, there cannot be any safe-heaven like exchange which will never let you commit a mistake because you are just a beginner in the crypto space. You must feel your responsibilities when you are touching a crypto exchange. If you feel that you are not having enough experience for an exchange then you must wait until you gain knowledge and experiences.

All I mean, there cannot a newbie-friendly exchange for problem-free trading or built by having newbies in mind. When you come to trading, your experience is least bothered.

All exchange is the best for beginner but they have know first which one market support to withdraw bank account, usually each country have local exchange where support for deposit and withdraw your asset to bank. Looking for bigger chance like trade with many altcoin choose you can check with Binance, huobi, Bitmex, Bittrex and poloniex, there are still have many exchange still not mention here. For the easy how to trade with exchange you can check first on coinmarket cap looking for which one your coin favorite listing and check where is the exchange have higher volume transaction for selling your coin.

Your opinion is not that bad but I cannot see that you have tackled the most important part in choosing the best cryptocurrency exchange for beginners. Here is what I can add base on my experience, if you are still a beginner the most important that you need to look for any exchange to use is their asset security.

Meaning, it will be good if you can use an exchange that will guarantee the safety of your money even if their exchange will be hack like what happened to binance hack and other big exchanges that were hacked. Centralized exchange are quite risky for me if I were to judge as we don't have a full control over our money unlike  decentralized exchanges but we need to gamble for this risk if we want to become a successful trader someday.

There are tons of reasons to pick an exchange but security and trust has to be at the top level for anyone, that is just not something we could forget and move on and not care about, we are talking about literally safety of your own money and there are tons of people who deposit thousands of dollars even hundreds of thousands of dollars so it is vitally important that you pick a place that is secure and trustworthy.

Binance is huge and has a big volume and they are now spreading towards everything else and doing amazing work but the main thing that made people fall in love with them was the fact that they are secure and got hacked maybe once or twice and each time it happened they ate all the loss and none of the customers got affected. This is why newbies should pick places like that.

There's no point in developing an exchange which has everything but it takes 10 steps to do 1 thing and have to spend a long time trying to work out what's what. This being beginner level or not.

 In that respect, user friendliness and simplicity are top factors to consider, among these are:

• Geographical Location & Restrictions
• Authenticity, Security, Anonymity and Support
• Purchase Method
• Supported Tokens
• Trading Platform/Peer-to-Peer Exchange/Broker
• Fees
• Volume and Liquidity 

For a more in depth read about these, check this out.

The best cryptocurrency exchange for beginners is binance In the case of exchanges the risk is much lower here. For newcomers there is no fear of losing much of the fee. The exchange in Binance allows newcomers to trading Bitcoin passively and therefore the inability to spend a huge amount of time on market analysis is the reason why Bitcoin transactions allow users to set up more efficient trades without always keeping them at the top of the market. This allows newcomers to trading very easily.

Also important aspects for an exchange are the number of traded coins - and above all the quality of coins which are on trade. You'll not want to end up with bags of shilled shitcoins.

Don't forget you cannot expect a rather secure exchange like Binance to offer the lowest fees on one side and offer a watertight insurance policy on the other side.

As with all things in real life, you'll have to find a compromise, based on your own personal list of priorities.


edit: FYI, the guy I quoted is a Swapspace shiller, so don't just open up an account without DYOR.

That an exchange is a big exchanges doesn't mean it can't go down tomorrow and exit scam with Investors funds on the exchange as of when the incident occurs. Big exchanges are also target to hack as hackers are quite positive if their hack becomes a success they'll likely go away with more funds compared to when the exchange was a medium volume exchange.

Well most exchanges currently in the space todays has all the feature you highlighted but still won't get a recommendation from me that easily if I was to give a newbie advice on an exchange to use. All are vulnerable to hack like the recent (Kucoin) so if I was to make a pick, I'll go for Binance as you stand the chances of getting back your funds if the exchange get hacks due to their insurance policy.

This is in addition to their other features like newbie/user friendly interphase/platform.

I think the points you have covered in your post are really good. All these should be considered by a trader before using any exchange.
But Most important of all is the security and trust of an exchange. Bitcoin and most of the other cryptos are decentralized, so there is no authority(legal) on exchanges which can ensure the right working of exchanges. Also, new investors should trade with reputed coins with high volume to stay away from manipulation by big fishes.
Moreover, Big exchanges have a backup of funds behind them which give a sense of security to investors. Like hackers stole $40 million Btc in 2019, but still, no investors have to bear any losses. I only like to trade with Binance after this incident. (it's not a recommendation to use an exchange but my opinion)

disclaimer first, this is just my opinion and my experiences in the exchanges that I've been use before. When I was a newbie, the biggest mistake that I made is where I put real money quickly without studying and making research first. So the result is obvious and I lost most of money, and I know that it is my fault for being ignorant in the market. Then I research about trading and I found Bitfinex, so for the newbies out there this exchange is my suggestion. Why it is my suggestion? because they have a features called paper trading or what they called virtual trading where in you can trade cryptocurrencies real time even you do not put real money. So this feature is for practice trading first, you can sign up there and try it for months before putting real money. And also be aware that the money that you will put in certain exchange is the money that you are willing to lose.

There are many types of traders and investors that are losing huge in different exchanges because they are always thinking winning big in just small period of time. Trading is a game of possibilities so everything can happen there so our thinking should be different and we should not just expect winning but also losses in order to be prepared on it if that time happens. But if you do not want to do practice trading then I suggest Binance and Kucoin as substitute exchange.

I was a newbie at that time (actually until now, I am also not a good trader    ),
What I did at that time was about only trading in my local exchange, without thinking of the trading volume about t. But at least, I think about the legality and also the reputation of the exchange. because I didn't want to risk my very small funds to lose in the exchange. So, I only chose a reputable exchange in my local country.

But, it is likely not good enough if only pay attention to reputation and trust, There must be also other things to be considered in order to get more profits, being comfortable while trading, and others.

And here are what at least I should consider:
And of course, trading volume and also more events that are given by the exchanges are also part of my consideration.
One more, I think that if there is a Demo menu in that exchange where we can learn first before trading live, it will be better.

The most important thing is how our strategy and analysis in trading, and how we manage our funds, and also our emotion