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13 Best Crypto Exchanges for Beginners

14 mins
Updated by Ish Bautista
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The crypto market may seem intimidating to newcomers, who often believe that technical knowledge is necessary. This perception can deter many potential investors from entering the market. Many exchanges have recognized this barrier and developed features tailored for beginners paired with a more user-friendly UI. In this article, we’ll explore the top crypto exchanges for beginners that streamline the trading process and are comfortably suited for newbies. 

Methodology

What are the best crypto exchanges for beginners?

Crypto traders and investors should select a crypto exchange that aligns with their unique needs, taking into account factors like crypto wallets and blockchain technology support. It’s beneficial to explore all available options to fully grasp each platform’s offerings regarding wallet compatibility and blockchain integration. With this in mind, here are some user-friendly crypto exchanges that are particularly suitable for novice cryptocurrency traders.

Thirteen top crypto exchanges

1. Coinbase

Crypto exchange & lending platform
Availability
U.S., UK, Europe, Australia, +100
Welcome Bonus
Up to $100
Cryptos
10,000+ assets, including BTC, ETH, DOGE, XRP, and many more
Minimum fiat deposit
$2

2. YouHodler

Crypto exchange & lending platform
Availability
E.U.
Welcome Bonus
from $10 to $10,000
Cryptos
BTC, SOL, BNB, and 50+
Minimum fiat deposit
$100 to earn interest, otherwise $5

3. Kraken

Best user interface
Availability
U.S., E.U., & 100+ countries
Welcome Bonus
$10 in BTC
Cryptos
BTC, ETH, LINK and 200+
Minimum fiat deposit
From $10

4. Paybis

Best for Easier Transactions
Availability
U.S., CA, DACH, Northern Europe, and more
Welcome Bonus
No fees for the first transaction
Cryptos
80+ most popular cryptocurrencies and stablecoins
Minimum fiat deposit
$5

5. Binance

Best for mobile app
Availability
U.S., E.U., 100+ countries
Welcome bonus
Up to 100 USDT
Cryptos
BTC, DOGE, ETH, and 350+
Minimum fiat deposit
No minimum deposit

6. Bybit

Best spot trading fees
Availability
100+ countries
Welcome Bonus
Up to $5,000 USDT in rewards
Cryptos
BTC, EOS, DOT, and 200+
Minimum fiat deposit
No minimum deposit

7. eToro

Best for copy trading
Availability
U.S., E.U., 100+
Welcome Bonus
$10
Cryptos
BTC, BCH, ETH, and 75+
Minimum fiat deposit
$100 U.S. and $50 U.K.

Disclaimer

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. BeInNews Academy is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

8. AvaTrade

Best for diversified assets
Availability
E.U., Japan, and four other countries
Welcome Bonus
Shares ocassional bonuses on the site
Cryptos
BTC, BCH, ETH, and 15+
Minimum fiat deposit
$100

9. MEXC

Best for margin trading
Availability
U.S., E.U., 170+ countries
Welcome Bonus
Up to 1,000 USDT
Cryptos
BTC, ETH, BNB, and 300+
Minimum fiat deposit
No minimum depsoit

10. OKX

Best crypto ecosystem
Availability
E.U. and 100+ countries
Welcome Bonus
Up to $60,000 USDT until May 31, 2024
Cryptos
BTC, ETH, SHIB, and 300+
Minimum fiat deposit
No minimum deposit

11. Gate.io

Best for altcoins
Availability
U.S., E.U., and 100+ countries
Welcome Bonus
Up to $100
Cryptos
BTC, ETH, DOGE, and 1,400 +
Minimum fiat deposit
No minimum deposit

12. dYdX

Best decentralized exchange
Availability
100 + countries
Welcome Bonus
$25
Cryptos
BTC, ETH, DOGE, and 30+
Minimum fiat deposit
No minimum deposit

13. Changelly

Best for instant crypto swap fixed fee
Availability
100+ countries
Welcome bonus
None
Cryptos
AAVE, 1INCH, BADGER, and 500+
Minimum fiat deposit
No deposit needed

Advantages of a beginner-friendly crypto exchange

For those new to cryptocurrency, beginner-friendly exchanges provide an ideal starting point. They create an inclusive environment that appeals to both the well-versed crypto community and digital nomads seeking flexible investment opportunities. These platforms emphasize user-friendliness and accessibility, making them perfect for anyone looking to venture into the digital currency sector. Here are some more benefits of a beginner-friendly crypto exchange:

  • Educational materials: Beginners have access to a wealth of educational resources that demystify the principles of blockchain and digital currency trading.
  • Dedicated support: Strong customer support is crucial for those just starting. Beginner-friendly platforms ensure that help is readily available through comprehensive FAQs, live chat, and other support options.
  • Demo account trials: There’s no substitute for hands-on experience. Demo accounts allow beginners to practice trading strategies without financial risk, a great way to learn before committing to real money.
  • Risk management features: With tools like stop-loss orders and price alerts, these exchanges help manage the inherent risks of trading, making the process less intimidating for new entrants.

How to choose an exchange

Some of the exchanges mentioned above may not be suitable for everyone. You need to choose a crypto exchange that is right for you. Consider the following variables:

  • Research exchange reputation
  • Security (cold storage, two-factor authentication, account recovery)
  • Liquidity (healthy trading volume)
  • Exchange fees
  • Selection of products

Unlike traditional financial exchanges where roles like market makers, clearing houses, and brokers are separate, in the crypto community, these functions often merge, especially within the DeFi sector. This enables crypto exchanges to offer a diverse range of unique products, heightening their service competitiveness. Consequently, your crypto trading experience becomes more tailored, allowing you to select an exchange that best fits your specific needs.

Personal finance is, as the name implies — personal. You probably do not care about a 10x or 20x margin if you are not a trader. If you like NFTs, you will want an exchange with a vast NFTs collection. Consider your priorities and choose accordingly.

What is the best crypto exchange for beginners?

The best crypto trading platforms for beginners is subjective. However, there are objective ways to differentiate between offerings from big names. Order execution, liquidity, and a comprehensive product suite are all good measurements of an exceptional exchange. A good exchange puts time into its customers. Good customer service and customer reviews are always healthy indicators of a well-run exchange. Nevertheless, only you can decide which is right for your personal needs.

Frequently asked questions

Disclaimer


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Ish Bautista
With over 6 years of marketing, content, and editing experience, Ish boasts a diverse background. Previously, she's lived in one of the startup centers of the world: Tel Aviv. Ish has navigated the realms of Business Intelligence, publishing, and even gaming. When she's not immersed in editing tech pieces or exploring new AI tools, you'll find Ish honing her combat skills. She previously worked with crypto start-ups and holds a deep appreciation for the sustainability aspect of blockchain...
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