9 Best Crypto Exchanges for Beginners

Updated by Maria Petrova

The crypto market can be daunting for newbies as there can be a lot of technical know-how involved. This often puts them off the thought of investing. However, exchanges are getting wise to this — and some have features explicitly designed for beginners.

The best crypto exchanges for beginners focus on offering key features while making the trading process as streamlined as possible. We list 9 such exchanges here, ranked according to various criteria.

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1. eToro — best for copy trading

eToro was founded in 2007 and has over 25 million users in 140 different countries, including the U.S. The company started offering stock and ETFs to U.S. customers in 2022. Previously, eToro offered multi-asset brokerages in other countries (offering forex trading, stocks, and commodities), but U.S. customers were able to trade only cryptocurrencies.

EToro’s social investing platform is what made it famous. This innovative tool allows investors to copy trades from other investors.

Traders may choose to practice trading using a demo account. Every eToro account also receives a $100,000 virtual trading account. This allows you to practice trading before depositing any real money.

eToro allows users to trade a large variety of assets, including popular cryptocurrencies. Social trading is the platform’s most important feature. Users can create a news feed, follow, copy, and interact with their favorite traders.

Why we chose it

While eToro isn’t a full-service cryptocurrency exchange, it is one of the best crypto trading apps, especially if you are a beginner. Users need to be aware that eToro isn’t a crypto exchange and lacks the tools and services that are needed to withdraw crypto to a non-custodial crypto wallet.

EToro is one of the best crypto trading apps if you are interested in stocks, ETFs, and cryptocurrency. Beginner traders might find it very easy to trade cryptocurrency by using the platform’s copy trading feature.

Key figures and data

  • Founded in 2007
  • Volume: N/A
  • Cryptocurrencies: 50
  • Geography: Israel
  • Type: Online brokerage platform 

Staking

No staking options.

Tutorials

Here are some eToro trading tutorials (posted in our Telegram community) that can help you get started on the platform:

Fees

EToro charges a fee of 1% for the purchase or sale of crypto assets through its platforms. However, this is included in the spread, and traders will only see the buy and the sell price on the platform. There is no commission for stocks or ETF trades. The broker pays the regulatory transaction fees when you decide to sell a stock.

There is also a $5 fee for withdrawals and a $10 monthly inactivity fee (applied after 12 months with no trading activity).

💡  Fee to buy bitcoin: 1% (included in the spread)

Pros and cons

Pros

  • Social trading (traders can choose to follow and copy the trades of popular traders)
  • Advanced trading features on the mobile app
  • Excellent trading platform for those interested in both crypto trading and traditional investment assets

Cons

  • The eToro trading platform is not available everywhere (some countries and U.S. states don’t have access to it)
  • eToro doesn’t offer any crypto-to-crypto trading pairs
  • Can’t withdraw crypto to a crypto wallet

2. OKХ — best crypto ecosystem

OKX is another one of the best crypto exchanges for beginners, and it offers a range of additional services. Although the exchange, which is based in Seychelles, is widely accessible to users around the world, it is not yet available in the United States. OKX could be a great choice for cryptocurrency traders who want to sell and buy with low exchange fees.

OKX was established in 2017. It has a headquarters in Seychelles and additional offices all over the globe. It has over 20 million users from more than 100 countries. Due to compliance and regulatory concerns, the exchange won’t accept users from the United States.

OKX also supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. Similarly to a bank account, OKX can be used as an additional cryptocurrency wallet, where you can access all the different services.

Why we chose it

You can buy crypto with a card, bank account, or via the mobile wallet by opening an OKX account. You can also participate in saving and staking features, which offer exceptional yields. Although it isn’t the largest cryptocurrency exchange, it supports a wide variety of currencies and offers a wide range of services. OKX is a great option if you want to manage all your cryptocurrency activities with one login.

Key figures and data

  • Founded in 2017
  • Volume: $2,225,178,757
  • Cryptocurrencies: 352
  • Geography: Seychelles
  • Type: Centralized

Staking

CryptocurrencyStaking yieldLock-up period
MATIC25.65%120 days
DOT21.75%120 days
LTC, UNI, DOGE, LINK, MANA & more5%90 days

Fees

As with each cryptocurrency exchange, OKX charges a maker and trader trading fees, which depend on the tier of your account. For spot trades, these fees vary from 0.080% to 0.005% for makers and from 0.100% to 0.020% for takers. 

💡  Fee to buy bitcoin: 0.08%–0.10%

Pros and cons

Pros

  • Low Trading fees for spot trades. Trading fees start at 0.10% and decrease with larger trading volumes. Holding more OKX tokens also helps decrease the fees.
  • High yield for staking. Users may earn more than a 100% APY rate by staking certain cryptos.
  • It’s easy to buy cryptocurrency with a card or bank account or digital wallet. Buy currencies in just a few clicks using a credit card or debit card, bank transfer, Apple Pay and Google Pay, and other supported services.

Cons

  • Inaccessible to U.S. users. OKX is unavailable to U.S. users due to regulatory and compliance reasons.
  • Low liquidity in certain currencies.  Although it is one of the best crypto exchanges for beginners, some currencies trade with low liquidity.

3. AvaTrade — best for diversified assets

AvaTrade was founded in 2006; it is headquartered in Dublin, Ireland, and is closely regulated by many financial authorities from around the world. It provides a safe and reliable trading platform for over 300,000 customers. AvaTrade today facilitates more than 3 million monthly trades.

AvaTrade is one of the most regulated online brokers that offer CFDs (contract for differences). They offer a variety of assets and account types to meet all the needs of their clients. 

As one of the first Forex brokers to introduce CFD trading on commodities, stocks, and indices, AvaTrade now also offers cryptocurrency to its traders. All these assets can be managed on their AvaTradeGo app and through the WebTrader app. The broker also offers minimal spreads and high-leverage options for its assets.

Why we chose it

It is clear that AvaTrade‘s customizable trading platforms are impressive. It’s important to note that AvaTrade is more than a crypto trading app. Furthermore, it offers a wide range of financial instruments for traders. On AvaTrade, you can choose from over 1,000 assets in various asset classes, including FX, stocks, commodities, ETFs, bonds, and cryptocurrencies.

Key figures and data

  • Founded in 2006
  • Volume: N/A
  • Cryptocurrencies: 18
  • Geography: Dublin, Ireland
  • Type: Online brokerage account

Staking

No staking options. 

Tutorials

Check out this Telegram tutorial on how to start using AvaTrade. 

Fees

Unlike other stock trading platforms, online brokers such as AvaTrade do not charge commissions per trade. The platform has a small spread, which is the difference between the buying and selling price of an asset. For instance, for the benchmark EUR/USD, AvaTrade’s spread is 0.91 pips.

AvaTrade doesn’t charge a commission for trading Forex, CFDs, or deposits. 

💡  Fee to buy bitcoin: 0.25–2% (included in spread)

Pros and cons

Pros

  • You can open an account in just a few steps
  • Deposits and withdrawals are free of charge
  • AvaTrade offers many user-friendly educational resources

Cons

  • AvaTrade is a brokerage account and doesn’t allow you to withdraw your crypto
  • Accounts are charged an inactivity fee
  • Some forex fees are higher than on other platforms 

4. Bybit — best fees for spot trading

ByBit is one of the most well-known cryptocurrency futures trading platforms on the market. The exchange, which is based in the British Virgin Islands, was launched in 2018. It has experienced remarkable growth. It currently has more than 2.5 million users around the globe and is growing rapidly.

The user interface is intuitive, and you might prefer it if you are a futures trader looking for a platform to facilitate fast and efficient trading. It can process up to 100,000 trades per minute. Traders can benefit from perpetual contracts that allow them to leverage up to 100x.

Why we chose it

Bybit offers quick and fast deposits and withdrawals, and the app is available for both Android and iOS devices. This is one of the best platforms to buy crypto for bitcoin traders interested in spot trading as well as futures.

Key figures and data

  • Founded in 2018 
  • Volume: $1,507,182,445
  • Cryptocurrencies: 261
  • Geography: British Virgin Islands
  • Type: Centralized exchange 

Staking

CryptocurrencyStaking yieldLock-up period
USDT10%Flexible
ETH30%3 days
BUSD8%Flexible

Tutorials

Check out this Bybit guide on how to start using Bybit.

Fees

Market takers get charged 0.075%. Market makers are charged a 0.025% fee. This means that market makers will be paid for each order they add. This fee is very competitive and encourages market makers to be active in order to increase the order book.

The withdrawal fee charged by the exchange is 0.0005 BTC. This is almost half of what industry-standard charges across the biggest crypto exchanges.

A trader must also pay a funding fee once they have opened a position. Margin trading is based on trading positions. The trader might have to pay or receive this fee.

💡  Fee to buy bitcoin: 0.10%

Pros and cons

Pros 

  • Bybit ranks as one of the top three highest derivatives trading volume
  • Coin and USDT settled contracts 
  • Reduced risk of price manipulation and liquidations  
  • High bonuses 

Cons

  • A limited number of trading pairs
  • ByBit is unregulated 

5. MEXC — best for margin trading

MEXC was established in 2018 in Seychelles and has recently been attracting a lot of attention around the world. The team’s core members are financial and business professionals with extensive experience in the financial and blockchain industries.

MEXC holds compliance licenses in five countries, including Switzerland and Canada. With a daily trading volume of around $4 billion, the exchange has listed approximately 371 cryptocurrencies (752 pairs).

Why we chose it

We consider MEXC to be the best crypto exchange for beginners who are looking for multiple services, such as spot and margin trading, ETFs, contract trading, and staking. Another great advantage represents the user-friendly interface of the mobile app, which is available for all devices.

Key figures and data 

  • Founded in 2018 
  • Volume: $4,002,112,336
  • Cryptocurrencies: 1549
  • Geography: Seychelles
  • Type: Centralized exchange 

Staking

CryptocurrencyStaking yieldLock-up period
TRON4%Flexible
DOT5–8%30 days
EOS1.50%10 days

Fees

Traders will pay no deposit fee. The trading fee is only 0.2% of the transaction value. This trading fee can get reduced when traders also hold the MX token in their account. 

There is a withdrawal fee, as is the case with most crypto trading apps. 

💡  Fee to buy bitcoin: 0.2%

Pros and cons

Pros

  • Quick crypto buying and selling
  • Over 1,520+ cryptocurrencies available
  • Beginners can use the Copy Trading feature to copy the traders of the most successful investors
  • Trade with up to 125x leverage

Cons

  • Very limited cryptocurrencies available for quick buy
  • No fiat withdrawals available

6. Gate.io — best for altcoins

Gate.io is a Chinese crypto-to-crypto trading platform that has been in operation since 2013. The platform was rebranded to Gate.io in 2017. It is one of China’s oldest crypto-to-crypto exchanges. The platform has a strong trading engine. 

The platform also offers up to 10X leverage for bitcoin traders interested in margin trading. You can also lend or borrow money to margin traders, participate in period investment plans, use the Gate.io Startup platform and execute perpetual swap contracts. Gate.io is security-savvy. It was rated by CER as one of the top crypto exchanges. The platform offers many security features and multiple ways to secure your account. Beginners who buy and sell crypto on Gate.io will also benefit from 24/7 customer support (live chat) if they need any assistance.

Why we chose it

Gate.io is considered one of the best crypto exchanges for beginners due to its extensive crypto pairs. It has nearly 400 cryptocurrency markets and 180 coins. However, it does not accept fiat.

Key figures and data

  • Founded in 2013 
  • Volume: $1,227,816,046
  • Cryptocurrencies: 1534
  • Geography: Cayman Island
  • Type: Centralized exchange 

Staking

CryptocurrencyStaking yieldLock-up period
EOS4%14 days
Cosmos16%14 days
Algo16%14 days

Fees

Gate.io, like most cryptocurrency exchanges, offers competitive trading fees and low-fee services. The platform charges 0.2% for a trade. Crypto and especially bitcoin traders should also be aware of the withdrawal fees. Gate.io charges different fees depending on the coin or token you want to withdraw. For instance, for BTC withdrawals, the platforms charge 0.001 BTC. 

💡  Fee to buy bitcoin: 0.01–0.2%

Pros and cons

Pros

  • Gate.io offers over 180 currencies and nearly 400 markets 
  • Many features, including margin trading with 10x leverage
  • Mobile app and good customer support

Cons

  • No fiat deposits are possible, only crypto-to-crypto pairs
  • Unregulated exchange 

7. Kraken — best user interface

Kraken was established in 2011 and is available in most countries around the globe. It is one of the most trusted and biggest crypto exchanges. Investors can buy, sell and hold more than 185 cryptocurrencies on the San Francisco-based exchange. They also have low fees for Kraken Pro, a professional-grade trading platform.

Kraken has two platforms: Kraken, its main trading platform, and Kraken Pro, its professional platform. Pro Dashboard provides highly customizable chart analysis tools and detailed insight into order books. It also offers 13 order types and high-speed execution. Kraken users can trade cryptocurrency with margin and execute crypto derivatives trading strategy.

Why we chose it

As one of the best crypto exchanges for beginners, Kraken offers a huge variety of features. It has established itself as the platform of choice for both beginners and professional investors during the early days of the crypto market. 

Key figures and data

  • Founded in 2011 
  • Volume: $1,596,057,034
  • Cryptocurrencies: 211
  • Geography: San Francisco
  • Type: Centralized exchange 

Staking

CryptocurrencyStaking yieldLock-up period
MATIC5–9%1 year
ATOM12–15%1 year
DOT9–12%1 year

Fees

Instant buy fees for spot trades on Kraken’s main platform can be quite high, up to 1.5%. However, Kraken Pro’s fees are very low. Kraken Pro has a tiered fee structure that allows high-volume traders to reduce trading fees. Kraken Pro’s taker and maker fees are 0.26% for traders who trade less than $50,000 per month. Taker fees and maker fees may drop to 0% for traders with rolling volumes exceeding $10 million, while taker fees could drop to 0.10%.

💡  Fee to buy bitcoin: 0%–0.26%

Pros and cons

Pros

  • Kraken offers a wide range of crypto pairs and low fees
  • Kraken Pro offers margin trading and crypto staking
  • The platform has an extensive range of educational resources to support new crypto traders and investors

Cons

  • Kraken also has limited funding options. It accepts only a few fiat currencies. ACH transfers are not accepted.
  • Deposits and verification can take time

8. Binance — best for mobile app

Binance is one of the most popular platforms, and many consider it to be the best crypto exchange for beginners. It is relatively new compared to other cryptocurrency exchanges on the market. It was founded in 2017 by Changpeng Zhao (known as CZ on social media). Since then, it has seen significant growth in both customers and products.

Binance has also launched its own blockchain ecosystem, which includes a mining pool and staking services. It also offers lending and spot, futures and OTC trading, and an NFT market. For those who prefer to keep their private keys in control, it also offers a standalone crypto wallet called Trust Wallet.

If you’re looking for platforms to buy cryptocurrency that has a reliable mobile app, then Binance is the best pick for you. Binance has one of the best crypto training apps, high trading volume, and the largest set of supported digital assets available on any crypto and bitcoin exchange.

Why we chose it

Binance provides a variety of trading options, including a large selection of market charts and hundreds of cryptocurrencies. It also offers mobile dashboards that can be accessed from the desktop. You can also access many trading options, including options and futures, as well as multiple order types. However, the United States does not have access to many features and options. Only 65+ cryptocurrencies are available for U.S. customers.

Key figures and data

  • Founded in 2017 
  • Volume: $29,407,401,291 (Binance international); $627,635,065 (Binance US) 
  • Cryptocurrencies: 355 (Binance International); 141 (Binance US)
  • Geography: Cayman Islands
  • Type: Centralized exchange 

Staking

CryptocurrencyStaking yieldLock-up period
SOL13.90%120 days
ADA10.90%120 days
FLOW12.79%90 days

Fees

Binance is one of the best crypto exchanges for beginners because it also offers the lowest fees in the entire industry. US users will have to pay higher fees to buy and sell cryptocurrency on Binance.us, but they are still lower than what you will be charged on other crypto apps. 

They operate a tier-based maker/taker fee structure, which is correlated to the trading volume and BNB balance of your account. The trading fees vary between 0.00% and 0.01%. As always, higher trading volumes receive lower fees. 

Deposit fees for fiat via credit or debit card are 4.5% which is similar to what other platforms are offering. 

💡  Fee to buy bitcoin: 0%–0.01%

Pros and cons

  • Hundreds of cryptocurrencies are supported. Binance offers more crypto pairs than any other crypto trading app. U.S. customers can access more than 65 tradable cryptocurrencies.
  • Low fees. The platform charges some of the low fees trading fees across the industry.
  • Various trading options and order options. Binance provides many trading options, including spot trading, peer-to-peer, margin trading, and lots of order types.

Cons

  • Binance U.S. is less extensive. The international exchange offers hundreds of cryptocurrencies, while the US platform is very limited.
  • The platform can be confusing at first. While the wide range of trading options and features on Binance is exciting, it can also prove intimidating.
  • There is no built-in digital wallet: While some exchanges offer built-in digital accounts, Binance doesn’t. Trust Wallet is recommended by the company, but it may not offer sufficient support if there are any issues with Binance transactions.

9. Uniswap — best decentralized exchange

Uniswap (UNI) PancakeSwap (CAKE) Price Prediction | best crypto exchanges for beginners

Uniswap is one of the best crypto exchanges for beginners looking to trade on a decentralized cryptocurrency exchange (DEX). It is also the largest DEX, which means it has a lot of liquidity. The greatest advantage of using a DEX is that you can easily swap crypto tokens and don’t need to create an account. 

Uniswap’s liquidity pool allows you to earn interest on crypto holdings. If you want to buy or sell cryptocurrency without going through the KYC (Know Your Customer) verification process, then this is one of the best platforms to buy crypto. It also allows you to connect your cold storage wallet, which means that your funds will always be safe. 

Uniswap traders can earn a passive income through liquidity mining. The DEX charges a small commission for every trade in crypto, and it shares that fee with all liquidity providers within the pool. This is also possible because the exchange has a lot of liquidity, which is essential for a decentralized exchange. Uniswap is a great place to trade crypto and earn interest as a liquidity provider.

To use Uniswap, you need to connect an Ethereum crypto wallet. It supports most of the most popular cryptocurrency wallets, such as MetaMask and Trust Wallet.

Why we chose it

Uniswap allows you to swap Ethereum-based tokens (ERC-20), the chain on which most crypto tokens are launched. It is also available on Polygon, Optimism, Arbitrum, and Celo chains. The design is user-friendly, which makes it a top pick for the best crypto exchanges for beginners. The Uniswap application is extremely user-friendly. It takes no time to get used to it. It is easy to connect your crypto wallet, exchange one crypto for another, and deposit your crypto into a liquidity pool. 

Key figures and data

  • Founded in 2018 
  • Volume: $2,918,501,256
  • Cryptocurrencies: 795
  • Geography: decentralized
  • Type: Decentralized exchange 

Staking

Only Liquidity Mining is available. 

Tutorials

Here’s a complete tutorial on how you can use Uniswap

Fees

Uniswap charges 0.3% for trades. However, a huge part of this (0.25%) goes to liquidity providers, which is a great thing if you want to become one. Slippage fees should also be considered, but for highly popular crypto pairs, this is as low as 1%.

However, it can change when the volatility is high. Traders should also consider the transaction fees, which are the blockchain network charges, and have nothing to do with the exchange. These fees are also known as network fees or gas fees and are different for each blockchain. Ethereum is notoriously famous for its high transaction fees, but these have been decreasing since Ethereum became a proof-of-stake (PoS) blockchain. The gas fees for Uniswap depend on the network’s traffic.

💡  Fee to buy bitcoin: 0.30%

Pros and cons

Pros

  • You can use Uniswap to swap tokens on Ethereum, Polygon, Arbitrum, Optimism, and Celo blockchains
  • The design is user-friendly, which makes it a great choice for beginner users. 
  • You may earn extra crypto with liquidity mining, by becoming a liquidity provider
  • There is no need to complete a KYC verification process
  • You can connect your crypto wallet for interacting with the exchange, but you always have complete control over your digital currencies and crypto assets.  

Cons

  • Uniswap is a DEX and doesn’t accept fiat money (only crypto-to-crypto operations)
  • Trading on a DEX translated into extra fees (blockchain transaction fees)

9 best crypto exchanges for beginners compared

  • eToro — Best for copy trading
  • OKХ — Best crypto ecosystem
  • AvaTrade — Best for diversified assets 
  • Bybit — Best fees for spot trading
  • MEXC — Best for margin trading
  • Gate.io — Best for altcoins
  • Kraken — Best user interface
  • Binance — Best for mobile app
  • Uniswap — Best decentralized exchange
Trading feesCryptocurrenciesMinimum Fiat Deposit
eToro1% (included in the spread)50$10
OKXMaker 0.08% Taker 0.10% (Base level)352$100
AvaTrade0.25–2% (included in spread)18$100
Bybit0.10%261No minimum. Only crypto deposits.
MEXC0.20%1549No minimum.
Gate.io0.01–0.2% (Maker) 0.025–0.2% (Taker)1534No minimum.
Kraken0% to 0.26%211Varies for each crypto.
Binanceup to 0.1%355 (Binance International)141 (Binance US)$10 (depends on deposit method and currency)
Uniswap0.30%795N/A

Beginners have plenty of exchange choices

Beginners will find a lot of opportunities to start their journey into the crypto space. As you see, the best crypto exchange for beginners to buy and sell cryptocurrency will be different for each individual investor and trader. 

Traditional investors that are looking to expand their portfolios by adding cryptocurrency assets might be more inclined to choose eToro or AvaTrade as their platforms to buy cryptocurrency. 

Frequently asked questions

What is the easiest crypto platform to use?

The easiest platform to use and the best crypto exchange for beginners will be different for each crypto investor. If you want to trade traditional instruments as well as cryptocurrency, then you may want to choose a brokerage account. Otherwise, for new crypto investors, a centralized exchange might be the best way to go. If, however, you want to have complete control over your crypto funds, then choose a decentralized exchange.

Which cryptocurrency is best for beginners?

When searching for the best crypto exchange for beginners, you might also want to be able to trade the best crypto. As you are just starting out, sticking with the most popular cryptocurrencies, such as bitcoin and ether may be the best option for you, as they are the most stable of them all (as much as they can be for cryptocurrency).

How can a beginner start trading cryptocurrency?

If you are a beginner at trading cryptocurrency, you should be looking for a crypto exchange or trading platform that is available in your country. Also, it is important to know what cryptos that platform supports and that are the fees associated.

Which is the safest crypto exchange?

The safest crypto exchange is one that holds most of its assets in cold storage. That will prevent any hackers from accessing the funds and stealing them.

Which crypto exchange has the lowest fees?

Cryptocurrency exchanges have different fees for different types of trading. Most of them have in place a fee structure, and they also encourage customers to buy their native token to help reduce those fees.

How do I start day trading crypto?

To start day trading crypto, you need to choose a crypto exchange or a crypto trading platform that offers the preferred cryptocurrency for day trading. It’s important to choose a platform with lower fees, that offers free withdrawals that will not chip away from your profits.

What is the easiest way to start crypto?

The easiest way to start buying or selling cryptocurrency is through a cryptocurrency exchange. To do this, choose your preferred crypto exchange, verify your account and make a fiat deposit.

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