Top Crypto Exchanges for Beginners 2024

Over the last few years, cryptocurrencies have exploded in popularity, allowing many crypto exchanges for beginners to emerge. These exchanges have intuitive features that have allowed many people to learn about crypto.

But with so many options available, each with its features, choosing suitable crypto exchanges for beginners can take a lot of work to crack. Important factors, such as appropriate security measures, comprehensive educational resources, processing fees, and the number of cryptocurrencies supported, should be considered, which can be intimidating if you’re just starting.

But don’t worry! If you’re new to crypto exchanges, this article will be a lifesaver. Here’s what we’ll talk about

• What is a Crypto Exchange, and what should you look for when choosing one
• In-depth Analysis of the best crypto exchanges for beginners
• The Pros and Cons of Each Crypto Exchange

So let’s get started.

Top Crypto Exchanges for Beginners in 2024

Best Beginner Crypto Exchange in 2024 

The importance of selecting the best beginner crypto exchange depends on easy navigation, low fees and plenty of educational resources to ensure everything goes smoothly. Choosing an exchange that lacks these factors will make your crypto trading journey more challenging.

What is a Crypto Exchange? 

Before getting into crypto trading for beginners, let’s explore the concept of a crypto exchange. A crypto exchange is like a digital marketplace, allowing users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, Solana, etc. These exchanges are similar to regular stock exchanges but deal with cryptocurrencies instead of stocks.

Mainly, crypto exchanges fall into two categories: Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs)

• Centralized Exchanges: These are typically run by a single entity that manages all of its operations and acts as an intermediary for crypto traders. These exchanges are ideal for crypto investing for beginners because they have a friendly interface, excellent customer service and advanced security features. Coinbase, Kraken and Binance are a few examples.
  
• Decentralized Exchanges: Decentralized exchanges, on the other hand, run without a central authority, giving users more control. While they offer more privacy and autonomy, they can be more challenging for beginners. Uniswap and PancakeSwap are some of the popular DEXs out there. 

Regardless of the type, cryptocurrency exchanges offer an easy way to trade digital assets, helping to grow the crypto market as a whole. You should also be familiar with some basic trading terminologies.

• Market Order: A market order refers to buying or selling crypto at the best available price in the market. For example, if you place a market order to buy Bitcoin, it’ll be executed instantly at the lowest price that someone is selling at. The price isn’t guaranteed in this order type, but it ensures execution.

• Limit Order: On the flip side, a limit order lets you place an order with a maximum or minimum purchase price amount. Suppose you want to buy Bitcoin for $30,000 and place a limit order for $30,000. Your order will be executed if the price drops to $30,000 or lower. 

Key Features of Beginner-Friendly Crypto Exchanges 

While selecting beginner crypto exchanges, you should remember the following key features. If you pick the right one, it can save you money. However, there is yet to be a definite priority among the factors listed below. Consider them all together to pick a crypto exchange that suits you best.

• Easy to Use Interface: Make sure the platform you choose is simple enough for you to use. It should also be mobile-friendly so you can monitor your portfolio and execute trades anytime.
  
• Top Notch Security: Select an exchange that puts security first. Ensure crypto exchanges use strong security measures like two-factor authentication (2FA). Further, the exchange complies with regulatory requirements to protect you from scams, legal headaches and hefty fines.
  
• Trading fees: Each exchange imposes fees on its various services, such as deposits, trading and withdrawals, which can vary. So, if you’re new, analyze these fees carefully because they can reduce your profit. Also, look for hidden fees and complex fee structures to avoid higher prices.
  
• Solid Educational Resources: When comparing user-friendly crypto exchanges, look for ones with ample educational resources. These should include blog posts and videos about specific coins and how-to guides for beginners on using an exchange.
  
• Reliable Customer Support: If you have queries about anything or have issues that need resolving, make sure the exchange you choose offers good customer support. The exchange should have multiple customer support channels, like live chat, email and phone.

For more insights on how to navigate the crypto world, explore our detailed guides on:

• How to Buy Bitcoin on Different Exchanges
• Comparing Fees: Finding the Low Fee Crypto Exchange
• An Introduction to Altcoins and Where to Trade Them
• How to Buy and Sell Bitcoin Safely
• Secure Your Crypto 2024: Top Crypto Exchange Security Tips
• How to Trade Crypto Anonymously in 2024: The Ultimate Guide for Beginners
• How to Avoid Crypto Exchange Scams in 2024: The Only Guide You Need
  
  

Top Crypto Exchanges for Beginners 

We have compiled a list of the top crypto exchanges for beginners based on specific criteria, such as coin availability, trading fees, tools available, security, and, most importantly, beginner friendliness. Each exchange has pros and cons, so investors need to decide based on their top priorities. So, let’s dive in.

1-Coinbase 

Why Coinbase is Best for Beginners 

Coinbase is the best crypto exchange for beginners, with an active user base of 98M. This is due to its user-friendliness, which makes buying and selling cryptocurrencies a breeze compared to other exchanges. Coinbase also provides a full range of tools and learning materials, including blockchain, Web3, and more.

Coinbase gets full marks in terms of security. It employs a rigorous Know-Your-Customer (KYC) procedure for verification, and two-factor authentication (2FA) is mandatory when you log in and withdraw money. 

In addition to trading, Coinbase offers an NFT marketplace and a mobile and web trading platform, both of which provide passive income opportunities through staking. With Coinbase, you can make your first deposit in your local currency for as little as $2 and learn about cryptocurrencies through educational resources.

Coinbase offers four ways to get customer support: the Help Center, email support, phone support, and live chat. The biggest con of Coinbase is the high trading fees it charges. However, despite this, Coinbase is ultimately a good choice for beginners who want to invest in crypto.

Pros and Cons of Coinbase 

2-Binance 

Binance: Simplifying Crypto Trading 

Binance ranks second as the best crypto app for beginners. It’s the world’s largest cryptocurrency exchange based on trading volume and user base. Binance has simplified the trading process, especially for beginners, with its intuitive interface for both web and mobile versions. The platform has many learning materials that make crypto easy for beginners.

It provides traders with a wide selection of tools, from fundamental market orders to limit orders. Advanced options, such as trailing stop orders and stop-limit orders, are also available. These options are accompanied by necessary details so newbies can use all the tools without requiring help.

Binance also offers a trimmed-down version called Binance Lite, designed to make crypto trading more accessible to beginners. The platform makes it easy to buy cryptocurrency and provides a simplified user interface emphasizing simplicity, speed, and ease of use.

The exchange’s fee structure beats the competition, starting at 0.10% for maker and taker orders. Binance adheres to all security requirements and is transparent about its reserves, confirming that all deposits match equivalent cryptocurrency holdings. Overall, Binance offers the best crypto platform for beginners, competitive fees, plenty of learning materials, and tons of tools.

Pros and Cons of Binance 

3-Kraken 

Security Features of Kraken 

Kraken has been around for a long time and is one of the best cryptocurrency trading platforms. The main reason we like this platform is its excellent reputation for security. With top-of-the-line security features like two-factor authentication (2FA), cold storage for most funds (the best method at the moment), and constant security audits, it guarantees the safety of your digital assets.

Kraken offers three types of accounts: starter, intermediate, and pro. Beginners can quickly sign up for a starter account, and no verification is needed. However, it doesn’t have many trading features, so you need an Intermediate or pro account to get better at trading and trading considerable amounts.

The Pro version offers a highly customizable interface. By dragging and dropping, you can create a layout that works for you by selecting from a wide range of modules. 

Kraken offers up to 5x leverage for margin and crypto derivative trading. It also provides 100+ multi-collateral futures contracts and API integrations, so you can build custom bots to automate your trading. Kraken is a rock-solid option due to its superior security and expert-focused features.

Pros and Cons of Kraken 

4-Crypto.com 

Features and Benefits for Beginners 

Crypto.com is another leading crypto exchange that has gained massive popularity and has recently hit 100 million users. Cronos (CRO), the platform’s native cryptocurrency, plays a pivotal role and has various unique benefits. You can get discounts just by holding at least 5,000 CRO coins. 

Further, Crypto.com offers its debit card to help you spend your cryptocurrencies worldwide in over 60 countries. If you hold a high balance in CRO, you can earn up to 8% cashback. The Crypto.com app is free to download and acts as a one-stop shop, making it ideal for beginners. Additionally, the app supports instant payments via debit/credit cards, but the fee is slightly higher at 2.99%. 

Another key feature is its security through multifunction authentication (MFA) and whitelisting. The funds are also stored in cold storage wallets, protecting them from hackers. As a whole Crypto.com offers excellent opportunities for newcomers.

Pros and Cons of Crypto.com 

5-StormGain 

Trading on the Go with StormGain 

StormGain is another highly intuitive cryptocurrency exchange that makes crypto for beginners straightforward. The best thing about this platform is that you can mine Bitcoin on the go with a feature-rich mobile app. 

All you need to do is register in the app and enable the mining feature, and you’re all set. If you trade a lot and are a loyal member, you can make up to 0.03 BTC every day. Though it’s not the best, it’s one of the easiest ways to get started.

Another cool feature is StormGain’s unlocked staking, which lets users earn rewards on their StormGain wallet money without having to worry about lockups. Users who execute at least $150,000 monthly will receive a 10% stake APY.

Robust security measures protect user information and transactional data, such as two-factor authentication (2FA) using Google Authenticator or SMS OTP. With crypto fans from 100 countries and around 120,000 active users, StormGain is the perfect place for beginners.

Pros and Cons of StormGain 

6-OKX 

Copy Trading and Educational Resources 

OKX ranks among the top centralized exchanges and offers a good entry point into crypto for beginners thanks to its copy trading feature. Copy trading is a new way to invest in projects and manage your portfolio. By using top traders’ techniques and applying them to actual markets, you, as a beginner, can achieve the same type of success. You can easily filter traders on the platform by their win percentage or profit/loss percentage.

It also supports a crypto spot trading platform and charges just 0.1% for every buy-and-sell transaction—one of the lowest rates. However, you’ll still have to pay commissions. The good thing is that no minimum investment is required, which is a big plus if you are a beginner.

The platform has a lot of educational material to get you started. It starts with a demo account funded with Bitcoin, Ethereum and other coins. You can make spot trades on your demo account, trade futures with leverage, or use a bot to trade for you 24/7. This way, beginner traders can practice as much as they want and jump into the market when ready.

OKX also features an intuitive user interface that caters to beginners and experienced traders. The platform boasts a clean and well-organized interface, detailed charts, and practical guides. The easy-to-use design makes trading cryptocurrency easy even for beginners. Overall, OKX is a good platform, especially for its simplicity and copy trading features.

Pros and Cons of OKX 

7-Gemini 

Security Features of Gemini 

Gemini has established itself as a reliable exchange that provides high security and easy-to-use interfaces for beginners. Its digital assets are insurance against hacks and breaches. Gemini adheres to more regulatory requirements than most crypto exchanges, including the New York Department of Financial Services, to make the process even more secure. 

Gemini stores most of its customers’ crypto assets offline, which is a huge advantage. The platform also uses two-factor authentication (2FA) for user logins and withdrawals and users can restrict which addresses can make withdrawals or altogether disable withdrawals. 

Gemini also utilizes the Know Your Customer (KYC) verification process. This process requires that you submit a government-issued photo ID to prevent fraud. This shows that Gemini puts security first by using world-class security measures to ensure beginners’ safety.

The Gemini trading platform makes buying and selling cryptocurrency easy and provides plenty of options. It offers an excellent platform called Gemini’s ActiveTrader Platform, with advanced charting tools for advanced traders and a simple interface.

Gemini’s Cryptopedia has the best cryptocurrency education content explicitly built for beginners available on any exchange. It provides hundreds of well-written articles on various subjects, including industry insights, financial product updates, and technical advice. With so much educational stuff and a top-notch security system, Gemini is an excellent choice for beginner crypto buyers, providing a solid foundation for starting.

Pros and Cons of Gemini 

8-Bitstamp 

Low Fees and Easy-to-Use Platform 

Bitstamp is another trustworthy crypto exchange with a long-standing reputation. The crypto exchange offers beginners an easy-to-use spot trading platform that can be accessed via the website and mobile app. 

Bitstamp charges different maker and taker fees like most exchanges. But it’s still competitive since the platform doesn’t charge anything for trades under $1,000, making it an excellent exchange for newbies. There are also withdrawal fees, such as 0.0005 BTC (roughly $8.50) for Bitcoin withdrawals. The minimum deposit on Bitstamp is $10, so beginners can get started without a big investment.

The platform also features a clean and straightforward interface that simplifies managing portfolios and placing trades for beginners. Bitstamp has a mobile app, too, so you can access the platform wherever you are.

Another impressive feature of Bitstamp is its security. The exchange maintains institutional-level security, keeping 95% of its assets offline. Additionally, it uses high-level encryption to keep your information safe.

Regarding customer support, Bitstamp has phone support, a rarity for crypto exchanges. It also has text-based customer support if that is your preference. Bitstamp does not offer live chat support, but you can submit an email ticket. Bitstamp is an excellent platform for beginners because it has low fees, easy setup and exceptional security.

Pros and Cons of Bitstamp 

9-eToro 

Social Trading Features 

eToro offers a huge variety of trading options and a simple interface that is perfect for beginners. The most attractive feature of this platform is social trading. Social trading is an investing method that involves trading strategies, insights, and trading with other traders. This method allows investors to follow and copy trades carried out by more experienced traders, thus democratizing access to trading knowledge and enabling beginners to get started.

eToro simplifies social trading for beginners by allowing them to talk about investing and share their views through a personalized news feed rather than a separate chat room. The ‘CopyTrader’ option enables beginners to mimic expert traders’ trades and leverage their strategies and moves for greater profits and a better trading experience.

Furthermore, eToro’s regulatory framework is controlled by ASIC (Australia), allowing it to offer an advanced and well-regulated platform for crypto trading. eToro has its crypto wallet, eToro Money, which enables traders to store assets on the blockchain without being dependent on the exchange.

eToro is also well known for its easy registration, KYC, and trading platform, which makes getting started a breeze. Those who wish to trade on the go can also use the eToro mobile app, which features a variety of educational content curated by an expert staff of market analysts. This exclusive content gives beginners a unique trading strategies and market analysis perspective.

Pros and Cons of eToro 

10-Huobi 

Wide Range of Supported Cryptocurrencies 

Beginners seeking a wide choice of tradable assets will find Huobi the best cryptocurrency exchange. According to BitDegree, the Huobi exchange offers 725 cryptocurrencies across almost 1170 markets, which is impressive. You’ll see all the big tokens like Bitcoin, Ethereum, Chainlink, Litecoin, and more.

A big part of Huobi’s offering is its spot exchange, which allows you to trade crypto-to-crypto for almost 1,000 different assets with a straightforward layout. It offers candlestick charts, order books, depth charts, and more, which you can use in TradingView. 

It also supports a fiat-to-crypto feature that lets you buy cryptocurrencies using regular money. For this, Huobi accepts multiple payment methods, including GBP deposits via Faster Payment and EUR deposits via SEPA. Also, it supports instant purchases of Visa and Mastercard.

You can place several orders on Huobi, including market orders, limit orders, stop limit orders, and trigger orders. Huobi’s spot trading service allows users to leverage up to 5x on supported assets.

However, beginners may find Huobi complicated since it has many complex and advanced features. Furthermore, a minimum deposit of $100 is required to trade on the exchange. 

Pros and Cons of Huobi 

Also, check out our list of the Best High-Volume Crypto Exchanges in 2024 

How to Choose the Right Crypto Exchange for You 

While looking for beginner crypto exchanges, choose one that fits your needs. If you’re an investor looking to buy and hold stocks, you should look for an exchange with an easy-to-use interface. User-friendly crypto exchanges make things easier, while poorly designed platforms can be frustrating and lead to mistakes. Check out multiple user interfaces and pick the one that works for you.

Another aspect to look for is the platform’s fee structure. Crypto exchanges’ primary revenue source is when you start investing or trading with them, so it’s essential to consider any fees you might have to pay when signing up. 

Many expenses will have fees associated with withdrawals, deposits, and other aspects, so check that these fees match your investment goals and budget. Make sure you compare fees with other beginner crypto exchanges, too. This will give you a better idea of what’s normal and what the extra fees are.

Another critical factor is the range of cryptocurrencies supported when selecting beginner crypto exchanges. Most crypto exchanges have popular cryptos like Bitcoin, Ethereum, and Solana. Still, you should also check that there are plenty of altcoins on the exchange, as altcoins offer more money-making opportunities. Having multiple cryptocurrencies on hand can help you reduce the risk associated with one digital asset and diversify your investments.

Security and customer support should be noticed. Security is a crucial factor, whether it’s a physical or digital form of money. While comparing user-friendly crypto exchanges, ensure the exchange you choose has solid security features like two-factor authentication and cold storage and is not vulnerable to hacking.

Further, reliable customer support is essential since digital assets can be complex and risky, and you need assistance when you need it. A great crypto exchange should have responsive, knowledgeable customer service to handle problems or concerns. Moreover, it should offer multi-channel communication, including live chat, email, and phone.

Common Questions About Crypto Exchanges for Beginners 

What are the best Day Trading crypto exchanges?

Binance, Coinbase Pro, and Kraken are among the best platforms for beginners to start day trading. Another pro tip for beginners who are crypto investing is that Bitcoin and Ethereum offer high liquidity and trading volume, making them ideal for day trading.

How much investment is required for beginners in crypto?

The basic rule about crypto for beginners is that you should invest only the amount you can afford to lose. Before rushing into the market, ensure you are well-informed about all the technicalities.

Can I start crypto trading on my phone?

Yes, cryptocurrencies can be traded on your phone easily. Most crypto trading platforms offer mobile applications for traders to trade anytime, anywhere. However, if you’re just starting out, start with factors like simplicity, ease of use, and learning material.

Conclusion 

So there you have it. These are the top crypto exchanges for beginners to get started on. We have covered all the essential aspects you must consider when choosing the best beginner crypto exchange for yourself.

The platforms above offer a balance of security, ease of use, trading fees and educational resources, so compare them to your requirements. This will help you to kick off your trading journey in 2024 confidently.

Frequently Asked Questions 

Which crypto is best for beginners? 

The beginner-friendly crypto has a steady market capitalization, high trade volume, and, when appropriate, high total value locked. Bitcoin is the best bet since it is the oldest crypto and has more than 53% market share. Ethereum’s large ecosystem and innovative contract capabilities make it an excellent option.

What are the safest crypto exchanges for beginners? 

To choose the best beginner crypto exchange, check whether it is regulated or supervised by regulators like the Securities and Exchange Commission (SEC). Further, closely look at the security features like two-factor authentication (2FA), cold storage for funds and frequent audits. Our top choices are Coinbase, Kraken and Gemini.

Which cryptocurrency exchange is best for beginners? 

Coinbase is our number one pick for beginner-friendliness and ease of use. It also offers plenty of tools and learning materials to get you started. Binance offers low fees and a wide selection of cryptos, so it’s another great option.

Where should I start to learn crypto? 

The first step should be understanding how blockchains work, how crypto wallets are made, and what NFTs are. Keep learning all the terms. Be aware of scams as well. Most of this information can be found on the Internet for free. Expert-curated learning material is also available on exchanges.

What is the easiest way to start investing in crypto? 

First, pick up a cryptocurrency you want to invest in, but do deep research before investing. Then, choose an exchange that meets your needs. Coinbase and Binance are good options for beginners. Get all the details on digital wallets and storage. Decide how much you want to invest. Take a closer look at market trends so you can make informed decisions.