Topic: What is the best cryptocurrency exchange for beginners - page 5. (Read 1014 times)

Suppose, this thread will stay active for a long time. Thus, the answer that should work here for all these months or years will be as follows. Find on the internet the exchanges list and read about them, taking into account the time they work and real users’ reviews.

Instead of using real money, I prefer to suggest demo versions of crypto exchanges. It will be early to talk about the crypto margin trading but there are demo versions of leveraged crypto trading which can be useful for learning the up-downs in the volatile crypto markets. Even 1:10 leverage is enough to understand the risk management in case they skip the demo version and go directly for the low capital trading. 1:100 leverage is for experienced traders but testing the skills with high leverage is a good idea in case of trader is on the demo server. There are crazy leverage trades too, 1:1000 leverage means having a $1 and trading with $1000 equally trades. Now multiply the mentioned leverage with your trading capital, sounds crazy right?

currently, Binance, Coinbase, and Huobi have all of what you have said...
For newbies, it is highly recommended to start trading on large exchanges with real trading volume so that you are familiar with the user interface displayed by the exchange site. Don't you dare try a newcomer exchange because it is very risky.

I have used many exchanges and what I found is that the simpliest exchanges for beginners usually have the largest rates and the most complicated usually have the cheapest rates. Take Gemini for exchange. In huge large fonts it asks how much BTC (or alts) you want to buy and have one large button to BUY (or sell) and that's it. You are buying BTC against USD and can't accidently buy BCH or ETHBTC or LTCBTC or BCHBTC etc. Those are the common mistakes that many extremely new people to crypto make. Even if you want to buy say ETH by selling BTC, you can't do it with the main platform, need to upgrade to some activetrader platform. They do this to make it as easy as possible. Coinbase is the same.

Now take Bitfinex for example. Sure it has a nice design and everything but there is no way some 60 year old person can figure out exactly how to buy bitcoin there. Way too many links, way too many different alt coin pairs and the tether might create some confusion. But Bitfinex has like 0.1% rates while Gemini has 2% rates. So since they are getting away with 2% rates and people are still using the exchange it means that there are people out there that prefer to pay a higher rate for easy platform than the other way around.

Here are a few things that you should consider before picking the best cryptocurrency exchange suited for trading.
-Fees
-Exchange Rates
-Reputation
-Security
-Easy to use
and definitely technical support, if you are new in crypto and exchanges you shall need this option for future exchanges.
When I first started to be interested in exchange and trading, https://swapspace.co/ helped me a lot. Later I used many exchanges, but this one remained the best for me due to its simplicity and ease of use

I hate to say this but you are trying to shill or advertise your link (or creating a backlink or doing off-page SEO), and this topic has been discussed many times here in the forum. I can’t count though, because there are so many of these topics existed here on Bitcointalk.

And of course, there are so many Youtube videos talking about that topic for beginners. Just saying.

The best way to pick is the one you are feeling comfortable with, obviously you shouldn't be comfortable with it for that easily, but we could potentially make it work even with not the best ones neither so you could find a middle one, or you could pick binance like every other person does anyway.

There are things you need to look at, things like exchange fee's, and volume and obviously security or check if they look shady, how long they have been operating and many other stuff like that, I would say that would work to be shaping up something in the end that you could work with. After you know the exchanges in an out with all the data, it is all about that comfortable feeling, if you are feeling comfortable with any of them you could pick them to try to make a profit trading.

Did you forgot simplicity and user friendly! If you as a beginner is looking to join a crypto exchange i think the first thing to come to mind is how easy to use and understand the platform is,  because not able to understand the platform will also affect the ability to choose the best options, before talking about security,  the issue of security broad because no exchange is 100% secure, many people transact in many exchange without knowing the level of the security of that exchange,
Although it all depends on individual preferences.

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.

Cryptocurrency now is an integral part of the financial mainstream, but it still has a long way to go. Despite the niche size, wealthy people around the world add cryptocurrencies to their portfolios. Large investment funds, such as Grayscale and Andreessen Horowitz, increase their holdings, Grayscale received more than $1 billion in the last 12 months from its clients. For a retail investor, it might be a good idea to follow the big fish. There are many ways to profit on cryptocurrencies, but the main two ways are trading and investing. Both of these ways require picking a good service to store and manage the funds, which can be a little challenging for a beginner. In this article, we’ll review some basic rules on how to choose a great cryptocurrency exchange. However, before digging deeper into making money, let’s see how cryptocurrency works overall...

The concept of digital currency has existed for many years. Before cryptocurrencies, there were many attempts to create some form of digital money. One of them was Ecash, which was created in 1983, and it became Bitcoin’s predecessor. In 2009, Bitcoin was created by Satoshi Nakamoto, a mysterious developer, and the new class of assets was born.

Bitcoin was the first example of successful blockchain technology implementation in finance. A blockchain is a database where the entries are sequences of blocks. Every block contains information about the previous one, its hash, and of course, information on transactions. Blockchain is a distributed technology, in the case of Bitcoin and the majority of other blockchains, copies of the database are stored on the nodes of all participants. This distribution allows making sure that nobody would be able to change the database, to reverse transactions or to add new ones without everyone knowing.

Another feature is that every user has their own wallet – to send or receive cryptocurrency, you have to know a public key which is a sequence of Hex-numbers, for example, 1PAt5oKQGBRigFDY6fB2WgQTtQJNzFyTDr. The private key, on the other hand, is a tool that allows signing transactions and managing the funds. All the assets on blockchain truly belong to their owners. Overall, immutability and true ownership are two things that differ cryptocurrencies from the government-issued fiat money.


https://swapzone.io/learn/best-cryptocurrency-exchange-beginners/