Top Crypto Exchanges for Beginners in 2023

Investing in crypto is not as complex as most people think. So if you’re curious and optimistic about the rise of crypto, there is no reason to hold back and dive into it. Remember, it is normal for beginner investors to get caught in the cobweb of endless crypto exchanges.

As a beginner investor, your objective should focus on the best crypto exchanges to make the right investment decisions. Whether it’s Bitcoin or Ethereum, cryptocurrencies remain at the forefront in the digital era. And like others, you probably don’t want to get left behind in crypto investing.

Of course, the crypto market is often unpredictable and volatile. But like traditional investment decisions, the trick to crypto investing is to be careful and considerate and diversify your entire portfolio. 

Now, let’s touch down on the detailed overview of top crypto exchanges that are perfect for beginners:

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What Makes Up Cryptocurrency Exchange?

Fundamentally, crypto exchanges bridge the gap between crypto buyers and sellers. Both parties connect and create a diverse and competitive space to buy and sell digital assets. Investors use an order book to place their crypto orders at a specific price on most crypto exchanges. It will not execute the order if the crypto market price does not materialize to your specific limit order.

Today, crypto exchanges support a wide range of digital assets. However, for the sake of comparison, the mechanics, rules, and functions of most crypto exchanges are similar to stock exchanges. For example, Crypto investors have the wiggle room to sell or limit a particular order on an exchange platform.

In 2023, if you’re looking to invest in crypto, then you can’t go wrong with these top-tier crypto exchanges for beginners:

Coinbase

Coinbase supports around 150 cryptocurrencies and rewards users when they learn through educational content. The transaction fee of Coinbase is from 0.50% to %0.04. The exchange platform also offers one of the most intuitive mobile apps for crypto traders and requires $2 as a minimum account balance.

In 2023, Coinbase was arguably the most popular choice among all cryptocurrency exchanges. The all-in-one crypto exchange platform allows users to invest with USD and purchase Ethereum, Bitcoin, Litecoin, and many other tokens and coins.

On Coinbase, crypto investors can earn significant interest on their USDT. Another way to make more token rewards on Coinbase is to complete numerous activities. The famous crypto trading platform holds most of its funds in a cold wallet. As a result, there is a top-notch security standard on Coinbase than other crypto exchange platforms.

Coinbase has become the best choice among crypto investors in a short time. And why wouldn’t it be? It is, after all, the first-of-its-kind publicly listed crypto exchange platform. As a result, Crypto investors use Coinbase and sigh relief that their funds are safe and secure.

Coinbase comes with an attractive and straightforward interface designed for beginner investors. On the flip side, you can use Coinbase Pro to use an advanced interface and added features. The hallmark aspect of Coinbase is that it is highly trustworthy and supports a great collection of coins and tokens.

Luno.com

Luno operates as a crypto exchange platform and a brokerage service. Luno, previously BitX, has over 3 million users. Since 2017, the crypto exchange platform has processed more than $8 billion. The crypto exchange platform is available in 44 different countries across the world.

Like Coinbase, one of the highlights of Luno is that it is easy to use and makes crypto trading of various coins seamless. In addition, Luno is a beginner-friendly crypto exchange platform that charges minimal withdrawal and deposit fees. Overall, Luno has an interactive design and offers an impressive user experience for crypto traders.

Luno supports crypto trading in seven languages. On the downside, the crypto exchange platform does not offer live chat support and has a few options to facilitate advanced traders. The good news is that Luno supports the best cryptocurrencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash.

If you’re a new investor in the crypto realm, it will make perfect sense to use Luno. The crypto exchange platform also serves as an information portal for beginner crypto investors. Whether it is deposits, withdrawals, verification, fees chart, or account information, new investors can seek assistance from the official help center of Luno to get all the answers.

Gemini

Founded by the famous Winklevoss twins in 2015, Gemini is one of the best crypto trading platforms in the U.S. Unlike Luno, the Gemini crypto exchange platform comes with advanced trading features. For example, Gemini now supports up to 20 currencies when buying digital assets.

The Gemini Dollar, the native token of the crypto platform, is hailed as the first regulated and working stablecoin. In the past, Gemini has been at the forefront of making consistent efforts and ensuring compliance with international and local financial authorities. 

Gemini has faced several security audits in the last couple of years. Still, the crypto platform has completed the SOC 2 Type 2 and SOC 1 Type 1 security compliance. However, on the flip side, the crypto exchange platform does not support many payment methods.

Still, the credibility and availability of Gemini continue to grow, and it shows great potential to thrive in the coming years. Gemini supports a wide range of altcoins that allows crypto investors not just to restrict themselves to the most invested cryptocurrencies.

Technically, Gemini allows users to earn interest through crypto. Although it depends on your digital asset, users can make over 8% annual interest on their holdings. So if you want to diversify your crypto position in the market, Gemini is a great exchange platform to thrive and grow over time.

Crypto.com

You may not be aware of it, but Crypto.com is one of the biggest crypto exchanges. The Hong Kong-based crypto exchange platform offers consistent support to American customers. On Crypto.com, you can access up to 90 coins and tokens across the globe.

In the U.S., Crypto.com supports 50 coins and tokens. Like the best crypto exchange platforms, Crypto.com offers competitive rates on its savings accounts. Regarding limitations, Crypto.com does not work on a desktop platform and is solely usable on a mobile app.

Also, some crypto investors profess that the fee structure of Crypto.com can come across as complicated for beginner investors. In any case, Crypto.com is a perfect exchange platform that supports a long list of tokens and allows users to pay weekly interest through crypto savings.

Crypto.com also offers interest-based accounts that allow investors to earn over 14% of annual interest on their holdings. When choosing an “ideal” crypto exchange, Crypto.com checks out the essential requirements for investors. 

Final Thoughts

When choosing the “right” crypto exchange platform, the critical consideration is establishing whether you will trade crypto frequently. If that is the case, then make sure to prioritize trading fees. And if you don’t intend to use a dedicated crypto wallet, don’t forget to overlook the overall security of the crypto exchange. 

Most crypto investors also consider the financial services that come with various crypto exchanges. However, it is vital to understand that only some crypto exchange platforms support the same altcoins. So, ensure that the crypto exchange supports the cryptocurrencies you plan to invest in.

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It would be fair to state that mainstream crypto investing has positively impacted potential investors. However, despite the cryptocurrency you want to invest in, start by understanding the mechanics, rules, and limitations of investing through different types of crypto exchanges to get the most value.