Best exchange to start trading?

[Cryptmuster]

Exchanges are exchange and there's nothing that can change them from what their true nature is, the developers may vary from each other but their main constituents still remains as being an exchange, so when we are trading in anyone of them, all we should focus on is their level of trust and adoption with global recognition and reputation they have, we should know that we are to do our own research about them and ensure we have what we want to see in them and should use only the amount that can be left on risk for trading on exchanges.

The best exchange is the one that does not require КУC from the user, but otherwise you have no guarantees that you will be able to avoid account blocking or other restrictions. It is also advisable to choose something from the top exchanges that are well-known, this will at least provide you with good liquidity (if you need it), but even this does not guarantee you anything, a recent example is FTX.

[1715241470]

1715241470

[Pandu Geddon]

The best exchange is the one that does not require КУC from the user,

From a user perspective, an exchange without KYC would indeed be better. especially for beginners who don't understand privacy and the risks.
but for those learning trading, the best exchange I think is a local exchange in their own country. who accept deposits in the currency they use. obviously, it will require KYC, but as a start to learn I think a local exchange is best.
If beginners start to understand the concept of trading and start paying attention to exchanges with good trading volume, it will be good enough to hone your skills in trading. especially with more assets to consider.

[kentrolla]

There are DEX and CEX but if you are new for trading then I would refer you to any of the centralized exchanges like Binance as it has much better user interface than decentralized exchanges as it's easier to navigate but if you are not comfortable providing KYC then go for DEX which would not have as much as liquidity as CEX.

Before entering trading regardless of exchange you choose you need to learn the basic of trading and have a proper knowledge because there are lot of people enter trading without knowledge and end up losing, some feels that they should have just hodled instead of losing in trading.

[armanda90]

From a user perspective, an exchange without KYC would indeed be better. especially for beginners who don't understand privacy and the risks.
but for those learning trading, the best exchange I think is a local exchange in their own country. who accept deposits in the currency they use. obviously, it will require KYC, but as a start to learn I think a local exchange is best.
If beginners start to understand the concept of trading and start paying attention to exchanges with good trading volume, it will be good enough to hone your skills in trading. especially with more assets to consider.

Local exchange market is the best option for beginner because there are available with local currency pair and easily understood with price have to buy and sell later. Seems all countries have own local currency exchange market and Binance seems supported with several local exchange pair for trading but including for all altcoins. For local exchange, the beginner understand well about deposit fiat fund firstly before use for trading, I think difficult for them have to start on global exchange market like Binance, Kucoin or Huobi because they can understand well how to make deposit first before buying some altcoin or bitcoin.
In local exchange have easily feature with deposit fiat or local currency and convert it to buy stable coins or directly trade from local pair currency with bitcoin or altcoin want trade by beginner.

[the rise]

there are many options available on coingecko, perhaps for more than the top 100, if your country does not support exchanges, you can make purchases via dex, but if you trade on dex the transaction costs may be quite large compared to dex, especially on the network erc-20 , remember trading will not always be profitable

[tvplus006]

...I would refer you to any of the centralized exchanges like Binance as it has much better user interface than decentralized exchanges as it's easier to navigate but if you are not comfortable providing KYC then go for DEX which would not have as much as liquidity as CEX...

Given the information that the OP published, the Binance exchange is not suitable for him to trade, since he lives in the UK. And as you should know, in 2021, the British financial regulator banned the Binance cryptocurrency exchange and its divisions from operating in the country.

[batang_bitcoin]

there are many options available on coingecko, perhaps for more than the top 100, if your country does not support exchanges, you can make purchases via dex, but if you trade on dex the transaction costs may be quite large compared to dex, especially on the network erc-20 ,

Trading on DEX if it's on the ETH chain will cost you a lot. I hate this to say but much better to get onto centralized exchanges if you want to keep some fees. There are a lot of choices in there but of course, use them as they're only should be used for trading.

remember trading will not always be profitable

Yeah, some time it will be and there will be a lot of times that it won't be. Just trade with caution and use exchanges that are common and don't keep your money there for a long time.

[TelolettOm]

The best exchange is the one that does not require КУC from the user, but otherwise you have no guarantees that you will be able to avoid account blocking or other restrictions.

If we want an exchange that doesn't require for KYC, we can choose DEX. Most CEXs must require KYC, it is common rules in CEXs to verify the real data of the users. In DEX, I guess there is no restriction, every one from any country can trade on the DEX. It is quite different in CEX, there are some restrictions in CEX, people from certain countries can't join the CEX.

It is also advisable to choose something from the top exchanges that are well-known, this will at least provide you with good liquidity (if you need it), but even this does not guarantee you anything, a recent example is FTX.

Of course, it is better to choose reputable exchanges. We must avoid to trade in unpopular exchanges, the risk will be too high. Moreover if the exchanges require our data to verify our registration. Specifically it is on CEX, we must choose most reputable CEX in the world. So far, I never speculate in random CEX, I only join the top CEXs in the world.

Choose top exchanges: https://coinmarketcap.com/rankings/exchanges/

[Lakai01]

If we want an exchange that doesn't require for KYC, we can choose DEX. Most CEXs must require KYC, it is common rules in CEXs to verify the real data of the users. In DEX, I guess there is no restriction, every one from any country can trade on the DEX. It is quite different in CEX, there are some restrictions in CEX, people from certain countries can't join the CEX.
[...]

I think trading on a DEX can be quite difficult, especially if you want to execute several trades in parallel and/or trade in short time intervals.

• Traditionally, a DEX has no options to offer functionalities such as stop loss or take profit, which is very difficult due to the way a DEX works.
• A slippage must normally be specified on a DEX. However, a slippage of only 2% can already ruin a trade.

For newcomers in particular, I would therefore only recommend a DEX to a very limited extent, especially because there are still CEXs without a KYC obligation, which are also ideal for this purpose.

[Ojima-ojo]

...I would refer you to any of the centralized exchanges like Binance as it has much better user interface than decentralized exchanges as it's easier to navigate but if you are not comfortable providing KYC then go for DEX which would not have as much as liquidity as CEX...

Given the information that the OP published, the Binance exchange is not suitable for him to trade, since he lives in the UK. And as you should know, in 2021, the British financial regulator banned the Binance cryptocurrency exchange and its divisions from operating in the country.

Too bad for op then, since I was about suggesting the same exchange to him as well, and the truth that,  many actually do not like binance, but it's far the best and the biggest crypto trading exchange by both volume and popularity, it is the best place for day trading as far as I am concerned.

But then, op can still check out exchanges like kucoin, okex and some others in the top ten on exchange rankings according to coinmarketcap, I believe one of the exchanges there will be fully functional in the UK and he(op) can start his trading journey from there.

[Patrol69]

First of all if you use Binance Exchange then you don't plan to use any other exchange because Binance Exchange has advanced features that differentiate Binance from all other exchanges. Binance Exchange has two moods, one is Normal and one is Pro. New members usually use the normal mode in the beginning but regulars and those who need to do other things including trading transactions usually use the pro version.

KYC verification of Binance exchange is very easy and it is done in quick time as compared to other exchanges. If security is considered then Binance Exchange will undoubtedly be ahead of all other exchanges. So initially you can use this exchange hope you feel comfortable using it.

[Bitcoinpoly]

It will totally depend on the coins you want to trade lol. If you're talking about majors, then just go with the biggest exchange that's available in your country.

If you're going to trade the bottom-of-the-barrel shitcoins, then you're going to need to go with the kuCoin's and Gate.io's.

yes Mate i totally agreed with you we have many choice to pick exchanges which most high trustable exchange (Binance , Kucoin , Bitget , Gate etc ) to give us all comforts to make simple way trades and gives us user friendly experience

Personally I prefer to use Bitget than the other exchanges you’ve listed, user friendly interface is one thing that traders doesn’t joke, being able to view my trading chart perfectly is really important to me, also Bitget has a sharp pick for set down entries unlike other exchanges where your trade will get to your set entry and it won’t pick up, that doesn’t happen on Bitget.

[Palazodeen]

...I would refer you to any of the centralized exchanges like Binance as it has much better user interface than decentralized exchanges as it's easier to navigate but if you are not comfortable providing KYC then go for DEX which would not have as much as liquidity as CEX...

Given the information that the OP published, the Binance exchange is not suitable for him to trade, since he lives in the UK. And as you should know, in 2021, the British financial regulator banned the Binance cryptocurrency exchange and its divisions from operating in the country.

Too bad for op then, since I was about suggesting the same exchange to him as well, and the truth that,  many actually do not like binance, but it's far the best and the biggest crypto trading exchange by both volume and popularity, it is the best place for day trading as far as I am concerned.

But then, op can still check out exchanges like kucoin, okex and some others in the top ten on exchange rankings according to coinmarketcap, I believe one of the exchanges there will be fully functional in the UK and he(op) can start his trading journey from there.

I think regulations to the various country's local authority is key but Binance is known for always evading regulations hence the reason they are no longer operational in many EU countries including U.K Canada Australia and others. They still have issues even with U.S. in as much as Binance remain the biggest crypto exchange, they should lead by example by complying with some regulations. I used to use them but since moved to Bitget since they are regulatory compliant and one of the biggest top exchange.

[justdimin]

I think trading on a DEX can be quite difficult, especially if you want to execute several trades in parallel and/or trade in short time intervals.

• Traditionally, a DEX has no options to offer functionalities such as stop loss or take profit, which is very difficult due to the way a DEX works.
• A slippage must normally be specified on a DEX. However, a slippage of only 2% can already ruin a trade.

For newcomers in particular, I would therefore only recommend a DEX to a very limited extent, especially because there are still CEXs without a KYC obligation, which are also ideal for this purpose.

I feel like that could be done in the future and would not be a problem, the real trouble is that you do not put in any price or anything like that and trading is harder in general. Plus, I feel like there are so many fake places that are acting like DEX but has absolutely no coding check, you can have places like CertiK check their chain or token or whatever, but the website itself is usually just copy of each other.

I remember when pancakeswap started, there were a million places that copied their website front end code and did whatever they could with it and I am not fine with that, I think that was the main reason why I stayed away from them, plus they are tiny in size when compared as well. Binance type of places are much grater.

[synchronym]

First of all, we should all do our due diligence on the exchanges before we trade anything. Because if we trade in any wrong exchange while trading then we will have more chance of losing money. So it is very important for us where we are doing exchange.

[Volimack]

It is important to research the trading sites well before trading not all exchange sites are good for exchanging. Determine your entry level and target price in advance it is very common for a person to change their mind before making an exchange. If the exchange site is not good you may sell even if the price increases nominally. That's why you may miss out on taking advantage of your high profits from large price increases.

[Latviand]

First of all, we should all do our due diligence on the exchanges before we trade anything. Because if we trade in any wrong exchange while trading then we will have more chance of losing money. So it is very important for us where we are doing exchange.

You don't have to worry about that if you're using Binance or KuCoin or Okex or Huobi because those are some of the most reputable exchanges out there that has hundreds of thousands if not millions of user daily that trades in billions of dollars so I don't think worrying about your money being lost is a worry that needs to be addressed if you're in an exchange that there's not a lot of people. You don't have to research on the exchanges I've mentioned because they're reputable and the only thing you might want to look for is the coins available in their platform for trading because crypto A might be available in KuCoin but not in the other exchanges.

[Pandu Geddon]

From a user perspective, an exchange without KYC would indeed be better. especially for beginners who don't understand privacy and the risks.
but for those learning trading, the best exchange I think is a local exchange in their own country. who accept deposits in the currency they use. obviously, it will require KYC, but as a start to learn I think a local exchange is best.
If beginners start to understand the concept of trading and start paying attention to exchanges with good trading volume, it will be good enough to hone your skills in trading. especially with more assets to consider.

Local exchange market is the best option for beginner because there are available with local currency pair and easily understood with price have to buy and sell later. Seems all countries have own local currency exchange market and Binance seems supported with several local exchange pair for trading but including for all altcoins. For local exchange, the beginner understand well about deposit fiat fund firstly before use for trading, I think difficult for them have to start on global exchange market like Binance, Kucoin or Huobi because they can understand well how to make deposit first before buying some altcoin or bitcoin.
In local exchange have easily feature with deposit fiat or local currency and convert it to buy stable coins or directly trade from local pair currency with bitcoin or altcoin want trade by beginner.

that's what I mean, why beginners who want to trade can at least learn on the local exchange in their country. It might be a bit problematic if their country doesn't support crypto and its trading. they can learn with some guidance from the information provided by the exchange for beginners before starting trading. If you just want to own assets like Bitcoin, it might be easy with p2p, but learning to trade if you are hampered by state regulations might be a little more difficult.
but there are already many videos that can be watched for them to learn to trade on several exchanges. maybe it will make it easier for beginners to learn.

[BitcoinTurk]

Up until now I have been just buying and patiently waiting for the bull run but in the last week I have seen 2 altcoins I was interested in pump up 40% in less than 24 hours so want to try make some money and give trading a go.

What is the best site for this in the UK?

I am only going to start with $200 roughly to see what I can turn it into over the next few weeks and months as the market is starting to get very volatile so could be good opportunity to make some extra money which would then mean I can invest more into my long term plays.

First of all, it is quite good to see that in order to make money by trading you will start with a small budget and follow the market for a while because usually new traders avoid such stages. Coming to the answer to your question: If there is a cryptocurrency you specifically want to trade you can use websites such as Coingecko or CoinMarketCap to see which exchanges have the highest transaction volumes of these cryptocurrencies and make a choice accordingly. For this reason, it is very difficult to make a clear recommendation without knowing the two cryptocurrencies you want to choose. On the other hand, if you want to buy and sell and make money by choosing many different cryptocurrencies in general I can recommend you to use the Binance exchange because Binance is the most popular exchange in this market and its transaction volume is quite high.

Finally, I would like to give brief information about some things you should pay attention to when choosing a cryptocurrency exchange;

- The transaction volume is high,
- Gained trust from users,
- Has proven theirself,
- Hasn't caused any inconvenience to its users before,
- Able to provide various transaction parities with high transaction volume,

while choosing a cryptocurrency exchange would definitely be the best decision.

[Franctoshi]

In as much as you would want to be dealing with a centralized exchange to purchase your cryptos, ensure that you move your cryptos to a self - custody wallet immediately after your purchase, where you only will have access to.  Note; keeping funds on exchange poses some kind of risk as you might have heard, "Not your keys not your crypto”, secondly your funds are liable to getting froze too, so these are risks involved with using any centralized exchanges, and you should consider this risk factors before doing business with any known exchange out there.