10 Best Cryptocurrency Trading Platforms for Beginners
Finding the best crypto trading platforms for beginners might be daunting if you're starting in this field. So, here is a rundown of the top 10 best cryptocurrency trading platforms for beginners.
- Coinbase is currently the best crypto trading platform in the US, which is a reputable exchange with a user-friendly interface and rigorous safety protocols. It provides a debit card (Coinbase Card) for purchasing cryptocurrencies and a high-interest savings account (Coinbase Earn). Coinbase is a safe and reliable platform because of its reputation and dedication to regulatory compliance.
- Binance is a widely-used cryptocurrency exchange lauded for its depth of market and low trading costs. It's easy to navigate and comes with a complete Binance guide of training materials for novice traders. It's well-known for its straightforward interface, an extensive selection of cryptocurrencies, speed and efficiency, and community. For these reasons, Binance is considered the best platform for day trading crypto.
- Robinhood is a commission-free trading platform that also allows users to trade cryptocurrencies. It is a good alternative for newcomers due to its straightforward mobile app and user interface. Robinhood provides its customers with an easy-to-use platform and access to many cryptocurrencies. The platform's popularity among new crypto investors stems from its robust community of traders.
- Kraken is a trusted and flexible cryptocurrency exchange that operates in a very safe environment. The platform also provides a debit card (Kraken Card), a high-interest savings account (Kraken Earn), and a custody service for institutional customers (Kraken Custody). Kraken is a well-liked option for digital asset traders because of its large user base, cutting-edge trading tools, and stringent safety precautions.
- Bybit is one of the best trading platforms for crypto that allows users 100x leverage while trading bitcoin futures. It is well-known for its speed, stability, and user-friendly design. Bybit is for beginners who want to use one of the best trading platforms committed to safety and integrity. The platform provides round-the-clock customer service and a wealth of training materials.
- eToro is a social cryptocurrency and other assets trading platform. The platform's popularity stems from its intuitive design, straightforward mobile app, and stringent safety features. eToro's social trading tools are well-known for letting users observe and replicate the actions of successful traders. That's why it's so popular among those just starting trading and investing.
- Bitstamp is a cryptocurrency trading platform that has been around for a while and is well-known for its low costs and reasonable security requirements. It's a perfect choice if you want a more conventional language-learning adventure.
- Gemini is a cryptocurrency exchange that supports many digital currencies and has a simple interface. It's on the list of best crypto trading platforms for beginners. Its stringent safety protocols and compliance with applicable regulations earned it a solid reputation as a reliable choice for digital asset trading.
- OKEx is another best-day trading platform for crypto. It is a Hong Kong-based exchange that provides various services for trading cryptocurrencies, including futures and options. It has gained popularity because of the positive reputation it has earned for its lightning-fast trading engine and low fees.
- KuCoin is a digital currency exchange that supports many coins and is expanding quickly. It's known for its low prices, ease of use, and safety features. It also provides a noncustodial wallet and a place to issue and sell tokens for fundraising purposes (KuCoin Spotlight). KuCoin Shares (KCS) is the platform's native cryptocurrency, and it can be used to access exclusive features and get rewards.
Among other valuable tools for beginners are trading journals; a good one is TMM cause it provides all the necessary features to start your rocky trading path! The TMM journal is an automated one. Add read-only API keys, and it starts recording all your trades, allowing traders to track their performance over time and identify patterns and trends. Moreover, an automated trading journal allows setting limits that, when violated or reached, send a notification to alert the user.
If you're going to trade cryptocurrencies, do your homework on the many exchanges out there, and remember the great rule: to trade what you can afford to lose. Before investing in cryptocurrencies, reading books about trading, continuous research, and understanding the market and the associated dangers are crucial.
With the recent surge in market activity after the crypto winter, it's the perfect time to use the above apps and an automated trading journal. As the market heats up and becomes increasingly volatile, traders need to have a tool that helps them track their performance and manage their risk.