Beginners Crypto Guide have put together a list of the 5 best Bitcoin exchanges for beginners to buy and trade Bitcoin.
If you are new to the Crypto game, so many different options competing for your attention to buy Bitcoin and cryptocurrency can seem a little overwhelming. In this post Beginners Crypto Guide has listed the best tips, tricks and advice to get you help you choose the right Bitcoin exchange for beginners.
What is a Bitcoin broker?
Brokers allow you to buy Bitcoin at a set value, which the platform or broker holds for you. Although there are benefits to using Bitcoin brokers, technically speaking you do not own the coin itself when using this method, rather you own the value-change of it.
What is a Cryptocurrency exchange?
Wikipedia explains this well: “A cryptocurrency exchange or a digital currency exchange is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies.”
What is the difference between a Bitcoin broker and a cryptocurrency exchange?
A broker sets the price and fee that they’re willing to sell for. Brokers provide price information on the movements of certain assets, users invest in this without owning or possessing any physical asset. An exchange is for converting one owned asset into another one. When trading with brokers you are actually trading a CFD (Contract For Difference), most of the time. On Bitcoin exchanges, traders and investors can directly buy and own Bitcoin.
If you want to buy Crypto, here are some things to consider first:
Each Bitcoin exchange site will have their own fees and pricing. As this can vary from exchange to exchange, it’s worth noting the fee before signing up.
Each exchange tends to offer a different amount of cryptocurrencies. If there is a specific cryptocurrency you’re interested in, make sure this is supported by your chosen exchange.
Amount of crypto you want to buy
Although most exchanges have high daily buying and trading limits, these limits are varied. The amount you can purchase in a day depends on the exchange.
Some exchanges allow you to buy, sell and withdraw in regular fiat currencies. Others will allow you to buy crypto using fiat but only allow you to sell or exchange to other cryptocurrencies.
Taking the above factors in to account, we have listed the Best Bitcoin Exchanges For Beginners on the market. These have been selected based on reputability, asset variety and user experience for beginners. The Bitcoin exchanges listed below are among the most secure and well trusted on the market These Bitcoin exchanges are trusted globally and have been thoroughly tried and tested by the BCG team.
Top 5 Bitcoin Exchanges for Beginners
The Binance cryptocurrency exchange has provided a platform for the trading various new and exotic cryptocurrencies. In 2018, Binance became the largest cryptocurrency exchange in the world in terms of trading volume.
Binance was founded by Changpeng Zhao, a developer who had previously been involved in the creation of high frequency trading software.
Binance have their own currency the Binance coin (BNB) which at the time of writing is valued at $16.42. The launching of the coin may have played a part in the success of the exchange.
Binance isn’t just an an exchange, it is one of the most popular trading platforms offering an array of altcoins and tokens only available on the Binance exchange.
Binance Coin can be used to pay fees on the Binance cryptocurrency exchange. When fees are paid in Binance Coin on the Binance exchange, users receive a discounted fee.
The Binance exchange is capable of processing 1,400,000 orders per second, making it the most powerful world-class matching engine.
Binance are currently offering zero fees to miners in their first month, so if you’re considering getting involved, now is the time!
If you’re an experienced trader looking to dip your toe in Bitcoin or crypto, Binance could be a great place to start. With fantastic analysis tools and ultra-fast transaction speeds, the Binance exchange is a trader’s dream.
The seasoned trader can use leverage and invest on futures using Binance.
Futures trading is a highly risky endeavor, with the potential for both great profits and significant losses. Please be aware that in the event of extreme price movement, there is a chance that all margin balance in your futures wallet may be liquidated. Futures trading is restricted for users from certain regions. www.binance.com
CEX.io is a no-nonsense, well trusted and reputable cryptocurrency exchange. Buy or sell crypto using your Visa or Mastercard in a number of different currencies and see real time data and metrics.
CEX.io also include margin trading and offer a user-friendly interface to get you started without blinding you with hundreds of moving numbers every second.
Impressively, CEX.io are one of the few exchanges to include a telephone contact number, something we rarely see in the crypto world. This is a mark of the trust that traders and investors place in CEX.io and telling of their commitment to customer service and user experience
Bybit boasts 99.9% system functionality, meaning that their servers are safe, secure and reliable. Even during times of high traffic volumes.
Their team of technical experts work around the clock to ensure a smooth, safe experience for users, minimising the compromising of data and maximising user experience.
Bybit’s analysis tools are hugely popular due to their accuracy, clarity of information and user interface. Bybit utilises state of the art tools to assist with trading at the next level.
Used with caution, the experienced trader can take advantage of up to 100x leverage, trading long or short with crystal clear statistics and real time data.
Bybit is by far one of the most trusted top tier exchanges on the market.
Coinmama has been trusted by over 1,900,000 people across 188 countries since 2013 www.coinmama.com
With multiple payment options and ultra-fast delivery, Coinmama is one of the most trusted and secure places to buy and sell crypto.
Beyond the beautiful layout and usability, the support service with Coinmama is second to none. They really go the extra mile to ensure all users understand the risks involved in buying and selling cryptocurrency so you can be confident in your decisions. Coinmama staff are always on hand to help with any queries no matter how big or small.
Coinmama is only available for web browse as there is currently no mobile app available. Though this may seem restrictive to mobile users, the security of the exchange is intrinsically lower, making it more difficult to hack if you drop your phone or leave it on a train.
Coinmama also offer a fantastic loyalty scheme. Users can benefit from reduced fees and costs simply by using the wallet or exchange.
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We’ve seen Coinbase trending like crazy on the App Store, adding 8 million users in the last year alone.
Founded 2012, Coinbase is quite possibly one of the most trusted and well recognised soft wallets on the market, globally.
In August 2018, Coinbase CEO Brian Armstrong revealed to Cointelegraph that the platform was signing up 50,000 users per day back in 2017.
The Coinbase CEO sees Coinbase as not just a crypto trading service provider but a universal entity contributing to global adoption of cryptocurrency and blockchain technology.
There are different cryptocurrency exchanges for different types of traders and investors. We have listed what we feel are the best Bitcoin exchanges for beginners. You can only hold one account with each exchange, however as you feel more confident you can always open up a new account with an additional exchange if you feel confident exploring the cryptophere!
DISCLAIMER: This is NOT financial advice. Beginners Crypto Guide does NOT OFFER formal nor informal financial advice and accepts no liability for such service. You should always do your own research before making any financial decisions.