Market Analysis Report (16 Jun 2021)
16 Jun 2021
Here is the best crypto trading platform:
The cryptoland is perpetually heating up and more and more newbies are joining this crypto revolution every day. While some are in the cryptosphere for the money, others are in it for the technology, like the CoinSutra team.
Whatever your reasons to get involved maybe, you need to remember that every person excelling in their respective fields was once a beginner. And from there on, with the right resources and self-education, that person succeeded.
On similar lines, CoinSutra is and wants to be your one-stop solution for all crypto-related queries if you are just beginning your journey in the cryptoland and help you become a pro at handling cryptocurrencies.
We have been here for well over one year and have done pretty well in reaching out to more than 2 million people like you. And that’s the same reason I am here again today – to tell you about some of the best crypto trading websites/exchanges for beginners.
When I started, as a beginner, I was pretty clear on what I wanted before choosing a cryptocurrency trading website/exchange. It included:
And to this date, I look at them the same way.
Keeping those parameters in mind, let me throw some light on the best websites to trade your cryptos.
Binance exchange now needs no introduction as it has been ruling the crypto market for months.
This exchange is good for beginners and advanced users alike. They also have an inbuilt option in their UI to switch between the two modes, a feature that makes their UI very user-friendly.
Also, you will never face a liquidity issue while using Binance because it constantly ranks in the top 3 exchanges on CMC by volume.
In addition to that, if you use their native BNB tokens while trading you can have a discount of up to 50% in your trading fees, which is a big amount if you’re looking to become a full-time crypto trader. The sooner you start via BNB, the more you will save in the longer run. (Buy BNB tokens now)
And the coolest thing that I found was that they have the most advanced and easy to use mobile apps for trading cryptocurrencies on Android as well as iOS.(Android App | Download iOS App)
CEX.io is another reputed website for buying/selling cryptocurrencies for beginners because their UI is very easy to use and their past track record has been pretty good too.
CEX is a UK-based exchange and has been operating since 2013.
Similar to Coinbase, you can deposit fiat currencies like EUR, GBP, USD, RUB etc on CEX too and buy/sell crypto currencies like Bitcoin, Bitcoin Cash, Ethereum, Stellar, and Ripple.
In terms of liquidity too, they are doing well, not to forget that their main traffic is from fiat currencies. (They are in top 35 cryptocurrency exchange as per CMC).
Their feature of letting users buy cryptocurrencies via debit/credit card also makes it an easy to use option for many beginners.
You can buy cryptos by following these simple steps (taken an example of Ethereum):
The card verification takes 24-48 hours, but post that, you can buy ETH instantly. That’s why we recommend you keep your card configured in CEX even if you don’t have immediate plans to buy ETH.
Here is a video guide to help you on how to link a credit/debit card on CEX.IO:
Also, they have a wider coverage of countries than Coinbase with mobile apps for both Android and iOS versions.
For further reading: A detailed review of CEX.io
Coinbase is another popular Bitcoin and cryptocurrency exchange that one can use for buying/selling cryptos like Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
You can deposit your fiat currency (USD, EUR, GBP etc) into Coinbase and easily collect your cryptocurrencies that you can later withdraw in a Ledger Nano S or Trezor-like device.
Coinbase also becomes handy because it allows you to buy cryptocurrencies via credit/debit cards. You can buy cryptocurrencies on Coinbase by following these simple steps:
(However, check if their service is available in your country here.)
Bitfinex is one of the oldest players in the race of crypto exchanges for beginners. It is much like Bittrex but unlike it deals in fiat currencies like USD, EUR & GBP.
Bitfinex always has an enormous volume so one needs not worry about liquidity while buying or selling on this exchange as it always ranks amongst the top 10 on CMC.
Plus the exchange UI is clean and has sufficient instructions on each page that will help any noob to use it efficiently.
Also, to get started on Bitfinex, you need to register, verify your ID, and authenticate yourself. It typically takes 15-20 business days after submitting valid ID proof before you’re accepted into the platform.
Lastly, do check out their mobile apps (Android App | iOS App) because they are good enough to be used while trading on the go.
Changelly is, without a doubt, one of the easiest to use cryptocurrency exchanges in the market. Via Changelly, you can simply send one currency and swap it for another supported currency.
It doesn’t require you to undergo the tedious KYC process but it does require you to sign-in with your email ID.
Currently, it supports more than 35 cryptocurrencies along with fiat pairs such as USD/EUR. Also, It is one of the best and easiest to use exchanges out there if you are looking to buy cryptocurrencies through debit/credit cards. If you want to know more, check out our review on Changelly.
Lastly, Changelly charges a commission fee of 0.5% on each trade, which is minimal in exchange for the volatility and risk that they bear on behalf of their users.
BitMEX exchange is run to be professional algorithm traders, developers and economists and hence it is the busiest exchange you will find in the cryptocurrency realm.
Moreover, it provides all the tools and techniques for advanced and beginners to trade cryptocurrencies. You can learn more about it in a detailed Bitmex review.
On BitMEX you can trade following cryptocurrencies (& contracts) for these fiat currencies like the U.S. Dollar, the Japanese Yen, and the Chinese Yuan:
The registration process on BitMex is quite simple where you just need to register through your email ID and their fee structure is also quite straightforward as shown below.
|LEVERAGE||MAKER FEE||TAKER FEE||SETTLEMENT FEE|
|Bitcoin Cash (BCH)||20x||-0.0500%||0.2500%||0.0000%|
KuCoin is a brilliant crypto exchange that has been receiving a lot of traction over the last 6 months. The traction comes as no surprise gave the team behind it and an easy to use & navigate UI.
In terms of volume too, it ranks in the top 25 exchanges on CMC and has a program in which they keep adding new coins/tokens on their exchange regularly.
Also, from a beginners point of view, KuCoin’s native token i.e. KuCoin Shares is good to HODL because that gives you extra smart passive income in the form of exchange fee. (Buy KCS Coins Now)
So you see for beginners also a lot of many options are available in the crypto-sphere.
Remember that all these exchanges are centralized in nature. Hence it is strictly advised that you do not use them as your day-to-day wallet for HODLing cryptocurrencies for the longer term. Read this article to know more about the risks of using a centralized cryptocurrency exchange.
CoinSutra team also uses all these exchanges but we use mainly Ledger Nano X for storing any cryptocurrency if we have to hold it for more than a couple of days. Even if you use it for a few days, we recommend you use it with proper 2FA authentication.
It’s your turn to tell me: Which one of these exchanges do you like the best? Also, what are other good beginners exchange that I haven’t listed here? Let me hear your thoughts in the comments below!
And if you liked this post, don’t forget to share it on Twitter & Facebook!
Here are a few hand-picked articles you should read next: