Bitcoin Forum

Hey all!

I'm fairly new to the crypto world and was looking some info about exchanges and which ones might be the best for newcomers like me. I stumbled upon this podcast which seems helpful - http://cryptoandblockchaintalk.com/episode-11-crypto-exchanges-for-new-investors (http://cryptoandblockchaintalk.com/episode-11-crypto-exchanges-for-new-investors)
But looking to hear your opinions as well. Where do you trade and what are your recommendations?

Thanks
Willy

I am using only Binance for now. its good exchange site and the volume is huge also. you can use this site, the exchange site link is https://www.binance.com/ I am not sure as a newbie how you found this one. You can also use Kucoin exchange site. this coin adds new altcoin most of the time.kucoin exchange website link: https://www.kucoin.com/
If you have erc20 coins and not found the coin name on those site than use Forkdelta, here you can also use a smart contract address to do the trade. website link: https://forkdelta.github.io/

If you just jump in to crypto trading, for better use only exchanges that has stop limit/ trigger order so you can use this function as stop loss. Because many trader include me make trade without using stop loss and finally iam loss more than 50% because i can not handle the price action of crypto in 24 hours aday. Good exchanges that has this function is Binance, Bittrex, Okex. But between 3 of these , Binance will be the best one because offer smaller trading fee and has higher daily trading volume.

Same with the 1st who replied to you. Binance. It is the most popular nowadays and because of that the movement out there doesnt stop.
When you are a day trader that is all you need.
A fluctuation which never ends.
Although some of them are just bots it is helpful for you can make profit out of it.

There are so many crypto exchanges today, some offer only crypto trading pairs for example BTC/ETH or BTC/LTC - for instance Binance have almost 250 such pairs so you can easy trade many altcoins for BTC and vice versa. But if you need to send money ( fiat ) to exchange to buy some cryptocurrency then you need to look for exchanges which offer fiat/crypto pairs, so pay attention to it. Also many exchanges requiring that you need be verified with your documents so that you could use them, and you will recognize it by KCY ( Know Your Customer ) and AML ( Anti-Money Laundering ) just by reading their TOS.

Some of most trusted ( oldest ) exchanges are : Bitstamp, Coinbase, Poloniex, Kraken and some others. Before using any exchange I suggest you to make a review of that exchange by simply use search engine with key words including "exchange+review".

Thanks to everyone for their input  :) You have been really helpful.

There are many trusted exchanges for new investors... marcatox,idex decentralised exchange,polyneix,hitbitc,and gate.io is a security based exchange for new investors.

For me the best exchanger that is good for me even when im a newbie back then is coinexchange, poloniex, cryptopia and CCEX so far that four exchanger is the best exchanger for a newbie in trading because they are user friendly and very easy to use.

Thats all! Binance, Kucoin are the best currently. I guess everyone will do suggest you Binance because it is also the Top 1 exchanger by volume and the number of coins those are listed over it. I personally like it because my all coins are listed over there and also they receive good community response. Whenever new coin is listed over the binance then it is said that it hikes to upto 40% in its value because of the huge crowd response to such listings. You will understand all these things once you start trading over it. And also make a note that there is no such thing as new investors etc, because all are same in their core functions.

As a beginner to crypto investment, the best exchange is the one with liquidity and high security to safeguard your funds. I think Binance, Poloinex or Coinbase is good for a beginner to start crypto trading.

Try Huobi.pro. They have a solid foundation, have a great deal of trading volume and traders. In particular, they improve their reputation with performance and friendliness and new features. OTC is also their great direction. You can sell crypto and receive money in your card account.

I strongly recommend Binance exchange and also you can pick up top 10 on CMC(CoinMarketCap). Have fun and keep safe!

Many good ones, I suggest you start with Binance and Kucoin..both are very user friendly..after some time when you get used to the process..you can check other exchanges..there are tons of others anyways  :D

Talking about exchange for Crypto investors is very important. Not all exchange are good to invest on. Some of the best exchange you can actually rely on are as follows
Binance
Bittrex
OKex
Etc.
These exchanges are good for investors to invest and leave for long time

As a beginner to crypto investment, the best exchange is Coinex.

I am trading on Binance and Bittex. Both are pretty good. But I still like Binance, this is the largest trading platform in the world, the number of coin is also very much, you can freely choose.

Thank you to everyone for your input. Seems like Binance is the way to go and then explore other stuff when you are more familiar with trading.

Since you’re newbie, I think you may try cex (https://cex.io/) . This platform is known as a user-friendly one, which means it’s quite simple to work with it. When I was a beginner, I used only this exchange. Currently I’m using several platforms for different purposes, as all of them has their own pros and cons. Anyway, cex has many pluses, as like reasonable fees or different guidelines. So check some info about it, if you interested.

You can start with Binance. It is good place to exchanging. Also they have a reliable team. They will answer quickly and help you.

If you are completely new and want to get started with demo accounts then HitBTC is great option for you to start with. This is just for the demo one but not the real trades because this exchanger have thought to be stealing people's money, so stay away from the real trades here.

If you want to get started with the real trades then there is best option like Binance and Gate.io which can give you great head start with good user interface. For a professional trader it is very important to have the perfect UI because things should be available on screen to trade effectively. Once you gain some knowledge then you can trade on almost any exchanger out there.

very good thread for a new investor
thanks for your comments everyone

I see tons of new exchanges coming up. Some are really trying to lure in the newbies with their very easy to use front-ends and some nice tools. What you think, should a newbie get involved with an exchange that hasn't established themselves yet in the crypto markets? Or, stick to Binance for example, that has proven themselves to be one of the best and biggest exchanges for newcomers?

Stick to older and trusted exchange where you used to trade is obviously much more bettee decision. Indeed sometime new exchanges offers something attractive but it is better if we wait for a while till there are some reliable reviews about the exchanges. It is OK to try new exchanges but bear in mind that you should limit your budget for the testing purpose to avoid unexpected thing.

For a beginner, I would recommend

Coinbase for US
Bitstamp for EU

They have both great liquidity and the main currencies. However, they don't support many alternative cryptocurrencies.

Many people mention Binance in this thread. However, I wouldn't call that a beginner friendly platform. They do offer a lot of functions but they do not support fiat deposits at all.

If you are looking for more cryptocurrencies and also the possibility to deposit fiat I would check Kraken.

You can read deep reviews about all these exchanges at Cryptocoinzone.

http://www.cryptocoinzone.com/

I remember when I was new in this market, I also had no idea how to choose an exchange, as there are so many of them. To start, Binance is a good one, has lots of nice coins there, but later, you will register many exchanges anyways, because of some coin is only available somwhere else.

For newcomers, choosing a good exchange is very important, as there are many exchanges, so using a regulated exchange can minimize risk. Over the past six months or so, Binance has left all others behind and is the best exchange out there now. Its interface is very easy to use and fees are also very competitive.

binance is one of the best ways for new investors, seeing the sales volume of all coins in binance makes good binance to be the first choice. so I think the binance is the recommended exchange.

I agree with you . Binance has a nice interface and can help you manage your assets best when trading. I have traded in a lot of exchanges but Binance is the exchange that made me the most satisfied at the moment and has given me a lot of profit since I started using Binance.

I would like to suggest you to use Binance exchange. It is one of the best exchange and they have big community on telegram. You can ask any question there.

Don't use Bitstamp.  They are currently not performing USD fiat withdrawals. My guess is some kind of money crunch or theft that they refuse to publicize. There are people that have been waiting over 2 months for their funds to be moved out of Bitstamp. There are people looking to spearhead a class action lawsuit against them.

You are free to choose the exchange you want, because currently there are more than 100 exchanges available and provide superior services of each. But there is only one suggestion, if you really are a new investor then you should choose an exchange with high trading volume and good security. If necessary, you choose to look for exchanges with good customer service because it can help you if an unwanted problem occurs.

Has anyone followed anyone on YouTube in terms of learning the basics?  I am looking for one with good results but also good programs available to learn the basics.  Thanks!

Highly recommended if you are trade in binance because in that exchanges site you can see a lotof coin that you are buy. Remember don't buy coin without doing a research

saya tranding di exchange Bittrex https://international.bittrex.com/Account/Login dinisi yang melakukan tranding setiap hari menggunakan koin Cardano (ADA)

It doesn't important if that exchange is listed a lot of coins, the most important thing is that it could be easily to used and less transaction fees. A lot of exchanges that are friendly users but it differs into corresponding fees and trading pairs.

Binance is the biggest crypto exchange and with high trading volume you can get lower spread and fast transaction.  This exchange also offer unverified account with daily limit withdrawal 2 BTC daily so trader can to trade immediately.  A lot of coin that listed in Binance was going up to 5 times because all that coin has strong fundamental, and Binance very selective to choice crypto be listed there.

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I think choosing an best or big exchanger site that is has a large volume for several coins is the best for beginners, I myself use many exchanger sites because they have different volumes on each coin and I choose an exchanger that has the largest volume in that coin ( binance, bittrex, local exchanger, huobi, okex and many more ).

At the beginning I used Bittrex, although the exchanges has not too large volume but the stability is very high. However, to learn more about crypto and how to trade, how to use Margin is still quite a choice. Bitmex is also a good choice. Be strong in placing orders with low capital, learn more from practice will bring better opportunities and better judgment skills for trader.!

If you are a new trader and want to make a profit right in the day, you should join the IDEX decentralized trading platform. Where the least stability is always there, the altcoins are pump and dump a lot of times a day. So there you will earn a lot of money with the guidance of some trading experts. Or you can join a group of "Pump Whale" telegrams. They will tell you what they are about to do, and you can buy it soon.

There are lot of exchange in this industry mate, then only few of them are good in my opinion. We have almost more than 100 exchange platform in cryptocurrency, now if you want the best exchange according to what you had stated in the above here is the link dude
for you to find the top 10 exchange, now its up to you on which of them are gonna attract you anyway https://coinmarketcap.com/rankings/exchanges/

Easy way out. Sometimes, I see those who tend to use an exchange that is not well used as a way of looking for trouble based on the fact that how will you be offered a Porsche and then you will decide to want to choose a bike.

It is always a good thing to know what people are really using in the space and then try as much as possible to know which one will suit you best as a new trader, based on some of the features like volume, trading fees, exchange fees and so many other things you can think of as well as security. No matter how attractive some of the new exchanges are, you should not be risking your money unnecessarily.

Absolutely right that Binance is the best and most popular crypto exchange for cryptocurrency traders. I hope you will use it for your trading. I also is used it and still using.

Yes, people's choice here is Binance exchange, even me I currently used this exchange for my trading activity.
Having a huge amount of volume and traders that's what people want to do in trading. But if you are not comfortable on that exchange there are some exchange might good and reputable like Binance exchange. I like to trade also in Kucoin exchange but that is only my opinion, still, the decision is yours.

Try cryptopia! This is the good and friendly-user exchange. You can use it without having a KYC. Aside from that, there are many coins that are legit in this exchange. Cryptopia is the exchange which I cash out above 1000 USD. And I am happy with that since I am just participating in signature campaign and not a full time trader.

Cryptophia exchange have many issues as well so you need to be much cautious with this exchange when you are using it daily but it is a legit exchange with some decent volume and lot of rare trading pairs as well so it may not suit for the regular trader because the fee is little bit higher than binance.

Cryptipia is not convient for all the new investors so I recommend to Binance exchange because this will be best decentralized exchange in crypto market. But trading fees is little high at the same this will be a most trusted exchange so we could not worry about our trading.

I normally trade in Binance and sometimes in Kucoin. Both exchanges have no problem in withdrawing coins. Customer support has been prompt. Just make sure you have 2FA set up, good luck!

Many are the best exchange. But in my opinion, the best exchange for a new crypto investor is - Binance, Kucoin and Bittrex. New investors should definitely invest in a Safe and secure exchange.

I think if you are a newbie, you should stay away from new exchange sites since most of them still has a problem on their system. Sometimes withdrawals or deposits are delayed. Just stick to trusted exchange sites, since there are huge trade volume there.

For Newly Crypto investors, you can try as much as possible by not trading on the wrong exchange. A lot of exchange today are just here to Scam you of your hard earn money. Best exchange you can go in for is Binance. Truly smooth and easy to use.

I used 4 different exchanges, and all of these exchange has good reputation and high trading volume, that is Binance, HitBTC, Poloniex and Gate.io, In these all exchanges listed many strong fundamental coin, and they have good customer support.

I would recommend Wex.nz, as they are very reliable and don't ask for KYC. But the problem is that they don't have a large number of trading pairs. They only deal with a few crypto-currencies such as BTC, ETH and XRP. Among the others, Cryptopia is a good option, but there you need to provide your ID documents.

I would vouch for both exchanges too! Binance has been one of the top exchange for some time now due to their service and continous development. I never had any problem with them. Kucoin is somehow alike with Binance plus more trading pair for smaller coins. I see some great potential in Kucoin.

Both exchange also don't ask for KYC unless you want to trade very high volume AFAIK. So it would be a good place to start for newbie.

I use ForkDelta but not all coins are there I think, IDEX is also good for exchanger, you can also try there of you to know if it is okay for you. These two (IDEX and ForkDelta) is what I am using right now.

For a beginner who is new to crypto, they must trade in an exchange that has a good reputation. A beginner must not have a good level of knowledge in choosing an exchange, so choosing a good exchange and also having a user friendly look is a top choice. In my opinion, Bittrex is the first choice, by trading in the exchange, a beginner will feel comfortable and they don't have to think much because usually the coins listed in Bittrex are coins that have good prospects for investment. Do not try to make transactions in exchange that is not trusted, train our abilities from the beginning and we are very likely to get closer to success.

What exchange has the best selection of coins and tokens available for trade?

The problems often don't come from Cryptopia itself but rather from the Altcoins network (wallet maintenances, etc) and since Cryptopia has a huge list of coins, it's normal to see such maintenance (i.e. wallets disabled) more often than other places.

Coinbase, for example, has a very short list of coins so rarely the problem occurs there. Me too I am using it but never got a problem so far.

There are many exchanges above 500 exchanges targeting different parts and region, Depend on your requirement
You can also use our exchange https://secondbtc.com

What I would suggest is to use is a multi-exchange platform, which allows you to manage all the exchanges from one place. There are not that many services like that online. The only one that is still free to use is bitsgap.com (https://bitsgap.com) (please let me know if you know any other). So the idea is to add all the crypto exchanges into the interface and and have them all in one place. This way you can easily manage and trade all the coins you have.

Are this type of sites safe? Seems like one extra layer of something centralized.

I would actually assume that when it comes to the new exchange to think of firstly, binance should always come to mind most of the time. I am sure if you have done some research on some reviews on binance, you really will not need to be asking if someone has had experience with binance or not.

Because this is one exchange that has been able to show itself approved in the space, and has obviously been the most used for most traders and investors in the crypto space for a lot of reasons when it comes to its great features and experience compared to other platforms.

They are safe, as you are not sending them any money and not allowing to make any withdrawals. They just connect to your exchanges via API and allow you to manage all the trading websites from one interface. For example, I trade my coins on 6 different exchanges and to make the deals I need to keep 6 different tabs opened. On top of that, all of those exchanges have different design, which is sometimes a bit confusing. Aggregative platform has a single design for all of the accounts (and sometimes even has some trading features that original websites don't). Even if I don't want to trade my coins, I still can login to one interface to check the current state on all of the connected exchanges (aka portfolio tracking), which I find very comfortable feature.

Oh, ok, I see. Seems interesting though.

Probably look for a reputable exchange site with 2FA security features in order to secure your account and your funds you can use the Binance, Poloniex, Hitbtc, Kucoin, Bittrex, Coinbase (Limited coins only), Bitstamp (EU)

Well you can just search around the internet for the best exchange and conduct your own research or review about the exchange site, remember that there are some phishing website around the web so you better check the url of the exchange before transferring your funds to your account.

Yes 2FA security is important to have. I would look at exchanges that have this option. But, it won't help against exchange hacks anyways.

I usually use Kucoin and then sometimes Idex and Forkdeltha I think new coins are usually listed there most of the time

To provide a legit and a certain crypto exchange, I could recommend binance as the best trading site ever because it can be installed to your mobile phone as android app. This is the easiest way to introduce crypto due to its capabilities and reviews. The trading site was having a strong security as per observations based on what I did from previous tradings I did with the exchange site.

Well" depend on your strategy if did you think that exchange is better for you
There so many exchange around here in the cryptocurrency but need to choose better and realable
Try this https://nexybit.com/tradespot  Easy and convenient for trading

I am sure that everyone here must believe that Bittrex is the best exchange. With a very good level of security and also with services that are so reliable, people don't hesitate to trade. Bittrex is the biggest exchange to date and in my opinion there is no exchange that can match the quality possessed by Bittrex.

Binance is the most popular crypto exchange , they has a million user so the trading volume is very high.  With high trading volume you will get low spread and best liquidity,  so will be good for day trading and scalping.

I agree with you . Binance is the best exchange in this market and it is difficult to compete with this exchange as most big investors tend to choose Binance for trading because it is safer than other exchanges. I personally believe Binance will always be the choice for everyone

There are well known exchanges like binance, any of them will do. Just be reminded not to keep your fund in an exchanges for too long, this gives no full control over your funds. It is still best to choose hardware wallet or open source wallet like HODLER wallet or electrum, in this way you can have the assurance that no one is taking over your funds but only yourself. After trading, selling and buying, immediately transfer it on your own wallet. Just a tip on trading,  You can arbitration to see price difference like bitsgap, this enables you to see price difference and also make profit from it.

Yeah, for most new investors at the moment who are looking into getting some pretty good coins or tokens to hold for the long term, I will say any reputable exchange with a lot of available tokens with potentials will be a good way to start and in this case, I will say Binance and bittrex for me are two good spots to start.

For what it is worth, we can at least tell that these two exchanges have been able to do well over time and most especially for binance, even in the short period of its existence, it pretty much seem like it has not even started yet, with many upcoming development to roll up its sleeves.

Yes, I agree. But if a new investor is looking to buy coins to hold them long-term, then it is important to transfer them out of the exchange to a more secure wallet. Main way how people get their coins stolen is through hacks on exchanges. So, don't hold the assets, you are not looking to trade, on an exchange. This is just an extra security risk which you never need to have. If you hold long-term, hold them in your wallet.

Now it is quite dangerous to use centralized exchanges, it is better to choose decentralized ones on smart contracts, where the funds are at your disposal