Getting started with cryptocurrency requires picking a reliable exchange, which is one of the most important steps. However, with hundreds of exchanges available, each differing in fees, security, and usability.
In this guide, we’ll break down how to choose the right exchange and recommend five of the best international exchanges for beginners.
1. What is a Crypto Exchange?
A crypto exchange is a platform where you can buy and sell cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and altcoins. There are two main types:
Centralized Exchange (CEX)
- Operated by a company that manages user assets. Examples: Binance, Coinbase, Bybit. Pros: User-friendly, good customer support • Cons: Higher risk of hacking
Decentralized Exchange (DEX)
- Operates on a blockchain, allowing users to control their own assets. Examples: Uniswap, PancakeSwap. Pros: High anonymity, less regulation • Cons: More complex than CEXs
For beginners, CEXs (centralized exchanges) are generally the best starting point.
2. 5 Key Factors When Choosing an Exchange
1. Supported Cryptocurrencies
Each exchange supports different cryptocurrencies. Most offer BTC and ETH, but if you’re looking for altcoins or DeFi tokens, check availability before signing up.
2. Trading Fees
There are three main types of fees: • Trading Fees: Charged per trade (0.1%–0.5% on average) • Withdrawal Fees: Applies when withdrawing crypto or fiat • Spread: The difference between buy and sell prices (wider on brokerage services)
Since high fees can eat into your profits, look for exchanges with lower fees.
3. Security Measures
Hacks have occurred in the past, so prioritize exchanges with strong security features like two-factor authentication (2FA), cold storage, and regulatory compliance.
4. Ease of Use (UI/UX)
For beginners, an intuitive and well-designed interface is key. A good mobile app and smooth deposit/withdrawal process are also important.
5. Deposit & Withdrawal Options
Exchanges support different payment methods like credit cards, bank transfers, and PayPal. Some only allow crypto deposits, so if you need fiat support, check this beforehand.
3. Top 5 Crypto Exchanges for Beginners
1. Binance
The world’s largest exchange with the highest liquidity and a massive selection of cryptos.
- Pros: Over 500 cryptocurrencies available, Low fees (even lower with BNB token discounts), High liquidity for easy order execution, Supports staking, lending, and NFTs
- Cons: Some country restrictions (Binance.US for US users), Customer support can be slow Best for: Those who want a wide variety of altcoins and low fees
2. Coinbase
The most beginner-friendly exchange with strong regulation and security.
- Pros: Intuitive UI, perfect for beginners, Supports credit card and bank deposits, Highly regulated in the US, ensuring security
- Cons: Higher fees (1.49% on average), Fewer coins than Binance Best for: Safe and easy crypto purchases
3. Bybit
A low-fee exchange with a strong focus on derivatives trading.
- Pros: Zero-fee spot trading, Up to 100x leverage for futures trading, No KYC required for sign-up
- Cons: Not available in some regions (e.g., US), High leverage increases risk Best for: Those looking for low-cost trading and futures trading
4. Kraken
One of the most secure and well-regulated exchanges.
- Pros: Never hacked since its launch, Supports margin trading (5x leverage), Trusted in Europe and North America
- Cons: UI is slightly complex for beginners, Fewer supported cryptos compared to Binance Best for: Those who prioritize security over everything else
5. OKX
A versatile exchange supporting DeFi, NFTs, and staking.
- Pros: Over 350 supported cryptocurrencies, Access to staking, NFTs, and DeFi apps, Low trading fees (0.08%)
- Cons: Not ideal for beginners (complex features), KYC verification required Best for: Those who want DeFi, NFTs, and crypto trading in one place
4. Conclusion
When choosing a crypto exchange, fees, security, and ease of use should be top priorities.
For absolute beginners, Coinbase is the easiest starting point. Once you get comfortable, consider Binance or Bybit for more advanced trading options.
