Best Exchange for Beginners

If you have just started to learn about bitcoin and bitcoin trading probably it is best to start with a bitcoin exchange that has been designed for beginners. Bitcoin exchanges can be fairly complex platforms and as you risk your own capital it is important you understand how it works. A beginner friendly bitcoin trading platform can be very useful in this case.

Why do I need a begginer-friendly exchange as a newbie bitcoiner?

The blockchain technology behind bitcoin and cryptocurrencies require a certain amount of IT affinity to understand. But you can easily trade with bitcoin without digging into too much technical details. At the same time, it is important to understand how markets and trading generally works. Bitcoin and cryptocurrency trading is very similar to forex trading. Combining the two – technology and forex – could quickly make newbie cryptocurrency enthusiast to give up their original plans on bitcoin trading because of the complexity of the topic.

However it doesn’t necessarily needs to be that way if you choose a platform that is specially designed for those who have just started to get to know the bitcoin market and trading. You can enjoy the benefits of bitcoin trading even if you are new to the market.

What makes an exchange suitable for beginners?

Exchanges usually has couple of important features that makes them easy to use for new joiners to the cryptocurrency market. Starting bitcoin trading in an easy and smooth way is both the clients’ and the exchanges’ goal. The more you can find on a given exchange out of these features the better you are equipped for trading as a newbie on the market.

A clear and transparent, user-friendly trading interface helps a lot at start. If you do not have to look for button and search for important information that is hidden behind nested menu structures means you can spend more time on reading the market and actually trade. Also, given rapid market movement if you do not find the buy or sell button you are doomed on the crypto market.

After signing up on an exchange, lot of platform provides a tour on the site which is highly encouraged to be used. It can save you a lot of time by showing hidden features that you might have not even thought of that existed before. These walkthroughs and tours can share a lot of valuable information about platform that will help your future trading activity.

When you are using the services offered by a bitcoin exchange, you most often use their wallets and making orders on the platform. Make sure that these two functions suits your needs and convenient to use. Both of the usage of wallet and the order types must be straightforward and well-explained for new joiners of the cryptocurrency market. This helps beginner users to stay on top of their finances.

Using a demo account at the beginning of your trading journey is a must. Couple of bitcoin exchanges offers demo accounts which works and behave exactly the same way as real accounts. The only and most important difference is however that the money on a demo account is only a hypothetical sum. But the features and market movements are the very same just like on the real account. Using a demo account is the best way to test your trading ideas and strategies without risking any money at all.

As a beginner you will most probably will have questions when using the exchange platform. A helpful and responsive support team can save you lot of headaches during the process.

Additionally, as a beginner bitcoin trader it is advisable to avoid margin trading at the beginning of your trading activity as it involves significant amount of risk.

Top 3 Bitcoin Exchanges for Beginners

Coinbase – Coinbase is one of the most popular bitcoin exchange on the market serving millions of users daily. The site is built in a way that the begginers can easly navigate through the platform quickly. The Coinbase interface is very intuitive and easy to use. The trading is always at a click or two away, with excellent website speed.

The company offers fantastic mobile products for iOS and Android, with probably the best Bitcoin exchange apps on the market today.

The apps provide full functionality of the website-based exchange and require two-factor authentication combined with email verification. It allows pin locking and a unique feature which lets users disable the app at a distance in case the device is lost or stolen. Buying and selling is very easy on the platform and there is also a lot of walkthroughs are available on their site if you are stuck at any point during the process.

Visit Website

 
 

Cex.io – Cex.io  website is neat and user firendly. All relevant information is always just one click away. Trading interface is easy to use, and generally the entire platform is very ergonomic. The page load speed is excellent as well. The exchange also has mobile apps for both Android.

This company can be proud of their support team. They answer quickly, with detailed information and you can find them everywhere – on the platform and outside it. The support team even addressed the complaints on the review websites such as TrustPilot, showing that the company cares about the clients and, of course, its reputation.

Visit Website

 
 

Coinmama – Coinmama has a straightforward platform where you can buy bitcoins. In order to you need to provide your email address, a password for the account, your complete name (first, middle, last) and your country of residence. Once your account is confirmed you are ready to buy bitcoins on the site.

Go to the purchasing page, where you are able to choose how much Bitcoin you want to buy. There are pre-made packages wherein you just need to click on and get that amount of Bitcoin, or you can manually slide the bar which is located below and enter a specific amount needed. The support team is very responsive and trying to solve any issues arise during the process quickly.

Visit Website

 

It is always important to make sure you are familiar with the assets you are investing into. Learn about the different types of orders, derivatives and also about the various cryptocurrencies before engaging in any real trading activity. Demo accounts are best to learn about cryptocurrency trading. Don’t forget, your capital is at risk after all.