50
views

Top 5 Crypto Exchanges for Beginners in 2020

Exchanges are where all the crypto magic happens. If you want to acquire a particular digital asset, whether you have fiat money or other crypto coins, a crypto exchange is the first place you visit. 

In layman’s, a crypto exchange can be best described as a marketplace where, unlike the common ones, instead of exchanging money for commodities, folks switch their equivalent fiat money for digital assets and vice versa. Contrary, both parties (buyers and sellers) can exchange one crypto (commodity) for another even more distinctly. 

Today, there are more than 5500 cryptocurrencies in existence with operations in over 22500 markets, according to CoinMarketCap. This means there is possibly an infinite number of crypto exchanges already established. While this is healthy for the crypto community, this could pose a nightmare for beginner traders looking for an ideal exchange that fits their needs.

Fortunately, this article encompasses a list of the top 5 crypto exchanges in the market today if you are a beginner. All their features, free and specs, have been indicated to aid you throughout your crypto adventure for the perfect crypto exchange.

Bithumb Global

bithumb global landing page

Founded in May 2019, Bithumb Global (BG) is a cryptocurrency exchange based in Singapore. Bithumb Global supports trading in over 100 assets with a trading activity of $100M in daily volume. The platform’s advanced features have earned it the top seat as the best crypto exchange in 2020. Margin trading and staking are some of the exchanges’ unique features. 

Bithumb Global presents the best user experience with fast loading and easy site navigation. The margin trading in Bithumb Global stands out from other exchanges. Bithumb Global’s margin trading offers traders unique staking options that allow their crypto holding to benefit from certain rewards.

To add, Bithumb Global stands out for other factors, including incredible global support, user-friendly design, low fees (0 to 0.1 percent of every transaction or trades), and quick fiat to crypto trading. Tight security measures and low latency order-matching-engine with proprietary technology and advanced algorithms are strong points for Bithumb Global.

With an excellent team, robust security, and support for many coins, Bithumb Global is undoubtedly one of the top crypto exchanges in 2020.

Coinbase

coinbase landing page

Based in San Francisco, USA, Coinbase is one of the oldest cryptocurrency exchanges, having started operations in 2012. Today, Coinbase is one of the top cryptocurrency exchanges and one of the most reputable. 

Among other proofs, the exchange is regulated as a United States (US) financial institution besides being compliant with key European Union (EU) financial regulations. Coinbase is also supported by major investors, including banks and investment funds. 

The platform’s security is also one of the best. Coinbase ensures that only 2% of clients’ funds are held online at a given time. Its insure policy also makes it one of the safest crypto exchanges for newbies. Coinbase simple design also makes it highly usable and easy for beginners.

Binance

binance landing page

Binance needs no introduction. Launched in July 2017, it’s the world’s largest crypto exchange, which works like an ecosystem comprising exchange, labs, and wallet. 

Binance is the go-to crypto exchange for the coin to coin crypto trading. Its flagship exchange doesn’t deal in fiat currency, making Binance strictly cryptocurrency-based.

Binance became the crypto exchange with the largest trading volume in 2017, perhaps due to its huge selection of cryptocurrency assets available to users. The platform also introduced margin trading In February this year. The margin trading is currently available for BTC, ETH, XRP, TRX, and BNB.

“Binance Lending Products” is a futures trading program that allows traders to lock some assets for a given period. The locked assets earn interest for traders.

Bittrex

bittrex landing page

Bittrex is one of the best cryptocurrency exchanges. It is based in Seattle, Washington. Launched in February 2014, Bittrex supports cryptocurrencies (including BTC, ETH, XVG, and XRP), stable coins, tokens, and fiat currencies.

Although higher than other exchanges, Bittrex charges are in line with the industry average. It offers a flat trading fee of 0.20%. The Global industry average fee is arguably 0.25%.

Bittrex’s security is the single factor that makes it one of the best crypto exchanges. This was given that it was developed by a team with vast experience in security from major software companies like Microsoft and Amazon. The exchange keeps user’s funds in cold storage inaccessible to hackers due to its strong verification system. 

Kraken

kraken landing page

Based in the USA, Kraken was founded in July 2011, becoming one of the earliest cryptocurrency exchanges. The platform has used its industry experience to build a solid reputation where users can trade in cryptocurrencies, stable coins, derivatives, tokens, and fiat. Compared to most similar platforms, Kraken has a long list of tradable pairs, though not by far.

The exchange offers a maker and taker fee ranging from 0% to 0.26% and even provides bitcoin pricing to Bloomberg terminal.

Kraken is ideal for all crypto traders. It offers great features, including margin trading, futures, and OTC

Other features that make Kraken stand out to include improved security, 24/7 support, and a range of funding options.

Final Thoughts

Picking the best crypto exchange platform as a beginner trader may be a tough and painstaking process. In most cases, however, features such as fees, security, and the exchange offer services go a long way toward filtering the long list. 

Bitcoin live price
Btc
Bitcoin
$42.877
price
0.70085%
price change
BUY NOW

The above cryptocurrency exchanges are selected in order of merit in providing safe and easy features for beginners who are ready to venture into the ever-growing crypto industry.

Stay up to date with our latest articles

More posts

Why Do the Cryptocurrency Prices Go Down on the Weekends?

If you have been in the crypto world for a while, you will probably have noticed a typical behaviour of the market during weekends. With some exceptions, we are used to seeing the price of significant cryptocurrencies drop over the weekend. The phenomenon is known to those who operate in this market, but understanding precisely the causes seems to be rather complex. Therefore, this article will discuss a definitive answer by analyzing the various main factors involved in this market…

How to Track and Stay Updated with Cryptocurrency News

Cryptocurrency is a young market and, as such, very fast-moving. If we exclude the phenomenon of stablecoins, the prices of cryptocurrencies change continuously, with sometimes very high volatility. Since a volatile investment is, by definition, a risky operation, traders usually look for ways to reduce the possibility of incurring significant money losses. In this context, it is vital to stay up to date with market events, even if this can be complex. As seen in the past, a single tweet…

Keeping Consensus: Explaining Ethereum’s Difficulty Bomb

Ethereum’s difficulty bomb is a tool for maintaining network consensus between all classes of participants. This is a challenging task for Ethereum compared to Bitcoin, which performs frequent backwards-incompatible hard-forks. The most significant of these – Ethereum 2.0 – is yet to come. When it does, the difficulty bomb will be crucial in ensuring the community’s smooth transition to the new protocol. Review: Ethereum 2.0 and Proof Of Stake To understand the necessity of the bomb, we must review some…

What Are the US SEC Cryptocurrency Regulations?

The United States Securities and Exchange Commission (or, simply, SEC) regulates the financial security market at a federal level. Among the many topics that have caught the interest of the SEC, one cannot forget to mention the crypto and blockchain markets. The existing SEC crypto regulations target several common aspects of this new industry, which is why no investor can allow ignoring these regulations. Therefore, while the world waits for a global policy on the sector, our article will deal with…

SAFT Agreements – What Are They and How Do They Work

There exist many ways to invest in the crypto market, and while some may appear straightforward, a few alternatives are purposely designed to attract professional investors. One may mention the so-called Simple Agreement for Future Tokens (or SAFTs) among the latter category. By joining a SAFT, investors can put their money into a crypto start-up, converting a stake into future equity. This article will review the topic, and we remind you to keep in mind that investing is a risky…

Top 5 Smart Contract Auditing Companies

Deploying a smart contract on the blockchain without auditing can quickly spell "suicide" for most projects. Nowadays, hackers are constantly looking for potential code errors and vulnerabilities. Furthermore, most users have the necessary experience to know they cannot trust unaudited DeFi and crypto protocols. Fortunately, no project has to launch unaudited, especially with the abundance of professional auditors in the industry. These experts can check smart contracts in-depth, detect errors or vulnerabilities, and suggest fixes. Simply put, they increase a…

Trading in the Forex and Crypto Sectors – A Critical Comparison

Trading currencies has always been one of the most popular niches in the complex financial universe. History books date the birth of the Forex market back to the late 17th century in the city of Amsterdam. The modern Forex market is a direct descendant of past trading, with a popularity that, over the years, has also involved small investors. The last few years have been characterized by the birth and rise of cryptocurrencies to create a new pole in the…

What You Need to Look For in a Crypto Broker

Traders are very fond of investing in cryptocurrencies, as the market has shown in recent years. However, often those who approach this world do not have a high level of investment experience, and, for this reason, it is necessary to pay attention to the choice of the trading method. There are several ways to trade cryptocurrencies, from specialized exchanges to financial brokers. Today's article will discuss the latter category, highlighting the main factors that one needs to observe to choose…

Metaverse Games You Need To Know About

NFTs are a rapidly growing industry. However, it's still arguably in its infancy. Namely, the entire market cap of all NFTs is still just $7 billion. That's why many NFT investors are looking for catalysts, something that can boost the industry. Many are betting that video games will be that catalyst. Specifically, metaverse games! NFTs and video games are a match made in heaven. For one, gaming is a vast industry - about $175 billion. Just the in-game items are…

What Is the Metaverse and How Does it Work?

Metaverse was one of the trendiest terms in 2021, especially after Facebook rebranded itself as “Meta.” As the New Year unfolds, we can expect the buzz around it to expand and take the world by storm. Nevertheless, the idea of Metaverse is still a little cloudy for many. So we are here to decode it for you. Metaverse and the Buzz Metaverse Group, an NFT-based metaverse real estate company, recently purchased a parcel of virtual land for $2.43 million. Suddenly,…