For beginners which trading option is best and which platform and why?

[Fesatmas]

Binance is still quite secure, not for binance itself maybe but for you it is still secure. Let people say anything they want to say about binance because it is their right to say (freedom of speech) whatever they want. However when they provide you with facts that doesn't change anything for you, that is just funny.

Yes, binance was "hacked" and yet nobody ever lost anything, binance covered all the costs of the hack themselves without putting any cost on the customer. So, why would it matter to you that binance was hacked? They have 90%+ of their money on cold storage, so even if they are hacked again and again, they could always afford to pay people their money without making them lose anything, you can hack binance hot wallets once a week and they would still be capable of taking the hit themselves.

This is what makes Binance always the platform of choice for traders. with current quality binance is very attractive to beginners. Apart from being consistent, Binance always prioritizes the safety and comfort of its traders. when there is something that concerns a member inconvenience, binance is always alert and provides solutions.

[death69]

Binance is still quite secure, not for binance itself maybe but for you it is still secure. Let people say anything they want to say about binance because it is their right to say (freedom of speech) whatever they want. However when they provide you with facts that doesn't change anything for you, that is just funny.

Yes, binance was "hacked" and yet nobody ever lost anything, binance covered all the costs of the hack themselves without putting any cost on the customer. So, why would it matter to you that binance was hacked? They have 90%+ of their money on cold storage, so even if they are hacked again and again, they could always afford to pay people their money without making them lose anything, you can hack binance hot wallets once a week and they would still be capable of taking the hit themselves.

This is what makes Binance always the platform of choice for traders. with current quality binance is very attractive to beginners. Apart from being consistent, Binance always prioritizes the safety and comfort of its traders. when there is something that concerns a member inconvenience, binance is always alert and provides solutions.

Binance also has a advanced platform for professional traders who want to enhance their capability of making money. Many indicators are added and there is also margin trading. Leverage is an advanced tool that multiplying our resources to hudred times. They also have institution for people who are ease to learn more about trading

[SquallLeonhart]

Spot trading is definitely the way to go for me as well. It is as expected as it could get and there is no "getting rich quick" with spot trading (most of the time) and there is no losing all your money in a day neither, it is just something that everyone could do and everyone could make a bit of profit from it.

I personally built a portfolio for myself, it is not actually "spot trading" because I just buy and hold, but at least it is definitely not the other methods, I buy like a spot trader but I sell like a spot trader few months (or hopefully years) later but my method is same as someone who does spot trading, just longer period of time in between. And I am quite happy with my current situation, I have grown my portfolio to include a lot more coins nowadays, specially increased my ETH right at the right time, and I feel like continuing doing that works the best.

[emmybd]

Binance is the most secure, you say...

... Did you forget the platform was hacked last year? Very secure yeah!  
Oops, I forgot, 3 months later it was hacked again with a security breach and KYC information

This is the #1 exchange in crypto world, you add...

... LoL, the number 1 platform that gives users data to blockchain analysis company to snitch to government agencies, the number 1 platform working itself with an American agency (the Department of Homeland Security in the US) for a financial surveillance program and snitch...

... The same platform that will freeze your account in you try to transfer out Bitcoin to a Coinjoin address. The same exchange that "conceived of an elaborate corporate structure designed to intentionally deceive regulators and surreptitiously profit from crypto investors in the United States"

Thank you soo much for your all informative and important information this will help me alot.

Binance had indeed had some issues over the past two years. It is not that it's only Binance that has suffered because of hacking; many other exchanges have also been hacked. Nonetheless, it is one of the best and biggest cryptocurrency exchange out there and number 1 choice of the most crypto traders. During this time, it has also made much progress and added many new major features for its clients.

[bitbollo]

Good question! First of all a beginners must use only proven and reputable platforms.
There are many already suggested. My suggestion:
always make a quick research on google (exchange name + scam), check bitcointalk topic, see ranking and volume in CMC/Coingecko.
Check before making any deposit the fees of service (trading / withdraw) and KYC/AML Limits  .

[proTECH77]

Spot trading is good for any new beginners, who want to go far in profit making in the market, if they can take research very serious in the trading activities,any time they are about to supply or demand from market. Any beginners who truly understand, how to use research to differentiate between bad project and good project in the market will go far in the area of profit making in the market.
Bitcoin is still rising which many traders are still asking, if it is time to supply to market for profit making, for them not to lose any profit in this season of bitcoin which is rising in the market, where other cryptocurrencies are reducing in the market that is causing some of their investors to start experiencing loss, since we enter pandemic.
According to some researcher, bitcoin will soon dump since other cryptocurrencies are preparing to improve in the exchange market.

[jaberwock]

Binance is still quite secure, not for binance itself maybe but for you it is still secure. Let people say anything they want to say about binance because it is their right to say (freedom of speech) whatever they want. However when they provide you with facts that doesn't change anything for you, that is just funny.

I haven't seen many people berating Binance either that is the good thing because they hardly had any issues in past and even haters have found no reason to berate them. By the way freedom of speech is one thing and negative marketing or defamation is another.

Coming back to trading options I would always recommend Spot Trading simply because they give you the control and in case of market going down and below expected but you have the feeling that the value will rise again and you just need to hold because with Leverage Trading or Margin Trading you don't get that freedom and have to concede loss.

[Kupid002]

Binance had indeed had some issues over the past two years. It is not that it's only Binance that has suffered because of hacking; many other exchanges have also been hacked. Nonetheless, it is one of the best and biggest cryptocurrency exchange out there and number 1 choice of the most crypto traders. During this time, it has also made much progress and added many new major features for its clients.

That's centralized exchange that exchange is only use for trading crypto currency , there are many hacking incident in exchange before not only in binance. but binance has found a way to return the hacked money to its users and that is also the reason why many are more confident to use it because they know how to take action everytime something like this happens in their exchange.

[drlukacs]

From my experience i will suggest everyone to choose spot trading because spot trading has less risk than other trading option. Though trading is always risky just you have to understand all trading algorithm, strategies, technical analysis. You have to research about a project before investing money. After your research if you think that this project has a chance to grow up then just buy then wait some time for the price up and when the price is up then sell it. Everything you have to do manually that is why this is called spot trading don't need to set sny leverage also so don't have any liquidation tension.

My first choice platform for spot trading  is Binance exchange. This is no. 1 exchange in crypto world. Low trading fees, lowest withdraw fees plus most secured and 100% trusted and also comes many trading competition.

Aside from Binance, I want to spread the word to you and everyone else about other Chinese big exchanges that are also good for making a profit.
That is MXC exchange, Huobi Global. These are the 2 exchanges I've been trading with for a long time, especially I made a lot of money on buying tokens while listing. The token pump rate on listing on MXC and Huobi is more than 85%, making it difficult for us to lose money. Especially, this strategy is also very suitable for newbies.

[Fredomago]

Binance had indeed had some issues over the past two years. It is not that it's only Binance that has suffered because of hacking; many other exchanges have also been hacked. Nonetheless, it is one of the best and biggest cryptocurrency exchange out there and number 1 choice of the most crypto traders. During this time, it has also made much progress and added many new major features for its clients.

That's centralized exchange that exchange is only use for trading crypto currency , there are many hacking incident in exchange before not only in binance. but binance has found a way to return the hacked money to its users and that is also the reason why many are more confident to use it because they know how to take action everytime something like this happens in their exchange.

After that hacking incident Binance proves that they are capable to returned all those hack coins, the insurance has been proven to work properly some delayed happened to make sure that everything has been traced, the team was been given a high approval ratings after that now they are being mostly used by traders both short and long term investors.

Never to forget to keep your educaton from each project that you are eyeing to participate, the more you understand the project the better
chance that you'll gain good compensations and avoid or lessen the chance of losing your hard earned investments.

[CryptopreneurBrainboss]

My first choice platform for spot trading  is Binance exchange. This is no. 1 exchange in crypto world. Low trading fees, lowest withdraw fees plus most secured and 100% trusted and also comes many trading competition.

No doubt Binance has earned themselves that position but that doesn't mean they're the best all round. We have platform that can boldly compete with Binance. Binance can't be said to be 100% secured since they have been expioted in the past and the chance of that happening again is certain since it's a centralized exchange that operate with a centralized server.

I think there are many distractions on Binance that a newbie can easily get distracted and lose focus of their intentions on the platform which is trading. The launchpad and launchpool features are just one of many of this distractions.

Most coins getting attention from the customers due to them been on Binance won't have been successful assuming they didn't leverage on Binance popularity.

[el kaka22]

There is no type of trading that is difficult, as long as you have knowledge about it, it is not going to be hard for you. It all goes down to what you like best, if you discover the type of trading you prefer the most then it’s up to you to pursue it and learn about, you can get anyone to teach you about that particular type of trading, anyone you know that’s doing really great in that area. Once you have learnt and understood that type of all round you wouldn’t have much difficulties in making use of the strategy.

As for exchanges, we know Binance is a good one, there isn’t a need looking for any other when Binance is working for you.

[FanEagle]

I understand that the word "best" could mean different things to different people. But for many people best means that the most loved and used one and binance is just like that.

Definitely maybe you could find some places with better technology or even design or anything really, but that doesn't change the fact that binance is number one for many people. Think about it like bitcoin for example, when you look at the tech behind bitcoin it was certainly the first but it is also not the best right now, there are tons of better blockchains in the market but bitcoin is still number one in market cap right?

Same goes for binance as well, even if there are better places for how they were made, it would still be "worse" in the sense that people will still mainly pick binance.

[carlfebz2]

There is no type of trading that is difficult, as long as you have knowledge about it, it is not going to be hard for you. It all goes down to what you like best, if you discover the type of trading you prefer the most then it’s up to you to pursue it and learn about, you can get anyone to teach you about that particular type of trading, anyone you know that’s doing really great in that area. Once you have learnt and understood that type of all round you wouldn’t have much difficulties in making use of the strategy.

As for exchanges, we know Binance is a good one, there isn’t a need looking for any other when Binance is working for you.

Majority of noobs or new people who do believe that trading isnt really that hard to engage on but let those experience do slap out the reality into their faces and made them realize that it isnt really simple as it sounds.

When it comes to best platforms and talking about options then i wouldnt recommend this for noobs because options is just somewhat like with gambling which a bit more riskier compared with spot trading and just
like similar with leverage ones.

I wouldnt say that this one isnt really learnable but it is way too risky and its much better if you do start on the ground first and try to familiarize everything.
In option you are dealing with volatility with the shortest time as possible this is why it wont really be that much of a recommendation for noobs.

[AakZaki]

Many beginners do not know the basics of how to trade in the market. It will cost him money. their knowledge and insights are not broad enough and they do not understand what they are trading. This is a common thing, but providing good and correct education for them will turn them into beginners who understand what to do when they want to start trading for the first time.

Choosing a good platform or Exchange is imperative because it will determine your trading comfort. Choose the one that is recommended by many people. I myself recommend Binance more, because Binance is the best trade in my opinion. But the most important thing is not to store all assets on the Exchange platform, because hacking will also happen. Use your personal wallet and secure the wallet.

Then remember, teaching about analysis techniques and fundamentals is very important, it will help to read where the market is going occur.

[Findingnemo]

My first choice platform for spot trading  is Binance exchange. This is no. 1 exchange in crypto world. Low trading fees, lowest withdraw fees plus most secured and 100% trusted and also comes many trading competition.

Not everyone can enjoy such features especially the cryptocurrency trader from country like US because there are restricions due to the regulation policies of respective nations. None of the centralized exchanges are 100% secured because even in the recent times there wre hack attacks with most reputed crypto exchanges so if it is possible then we can use the decentralized exchanges as well where we can get anonymity and security for our funds.

[tbterryboy]

Binance had indeed had some issues over the past two years. It is not that it's only Binance that has suffered because of hacking; many other exchanges have also been hacked. Nonetheless, it is one of the best and biggest cryptocurrency exchange out there and number 1 choice of the most crypto traders. During this time, it has also made much progress and added many new major features for its clients.

That's centralized exchange that exchange is only use for trading crypto currency , there are many hacking incident in exchange before not only in binance. but binance has found a way to return the hacked money to its users and that is also the reason why many are more confident to use it because they know how to take action everytime something like this happens in their exchange.

Yeah, the biggest problem when using a centralized exchange is their trustworthiness and for DEX there are other problems like the transaction fees was insanely high last time I tried uniswap.

Returning users money after the exchange was hacked is actually a great sign because this brings more stability and recognition and I was not among the ones who lost their coins and got refunded but I heard the whole story and it was a nice gesture from Binance.

The best trading option for someone new depends on their capital and appetite for loss and profits and based on that one can chose to trade altcoins, do day trading with bitcoins or even invest for long term.

[DoublerHunter]

My first choice platform for spot trading  is Binance exchange. This is no. 1 exchange in crypto world. Low trading fees, lowest withdraw fees plus most secured and 100% trusted and also comes many trading competition.

Not everyone can enjoy such features especially the cryptocurrency trader from country like US because there are restricions due to the regulation policies of respective nations. None of the centralized exchanges are 100% secured because even in the recent times there wre hack attacks with most reputed crypto exchanges so if it is possible then we can use the decentralized exchanges as well where we can get anonymity and security for our funds.

^ But in reality, people keep taking a risk on the centralized exchange because they know that this could have a massive earning in a short period of time. We know that centralized exchanges are very high volume and liquidity compared to the decentralized ones that it will probably take time before your order will be executed. Nevertheless, I suggest to those beginners to make a study and research first before they will go into trading because each trading platform has its own features and also have pros and cons for the users.

[Ridwan Fauzi]

Indeed, if you choose trading future as a beginner you will have 5% even less to mentain your capital. Most of beginner should avoid the trading future or trading that use laverage. Spot trading is good for someone who just new and will try to be a trader. Maybe you just need to learn about technical analyst first until you know support and resistence and then you are ready to start, just it.

You don't need to learn about fundamental analyst if you choose short term trader. But yeah, the profit that you get is depend on your capital. If we compare with trading future maybe you just need $100 and use 20x laverage per every trade and you have good analyst, you have a chance to gain $100 per day to gain profit.

[Findingnemo]

Snip....
^ But in reality, people keep taking a risk on the centralized exchange because they know that this could have a massive earning in a short period of time. We know that centralized exchanges are very high volume and liquidity compared to the decentralized ones that it will probably take time before your order will be executed. Nevertheless, I suggest to those beginners to make a study and research first before they will go into trading because each trading platform has its own features and also have pros and cons for the users.

For complete beginners I won't recommend decentralized exchanges because the steps involved may look confused for them and also on chain transaction make them to feel like there are so much restrictions for cryptocurrency. So its always good to start their career with reputed centralized exchange with less capital.