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Best crypto exchange platforms for beginners

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trade crypto

You are familiar with wallets and would like to trade some tokens. Crypto exchange platforms aid you to trade crypto just the way you trade currencies in forex platforms. They allow you to buy crypto with your fiat, trade them against other crypto tokens and withdraw them in fiat to your bank account or other supported payment methods.  Like forex platforms, you have tools and features like buy order, take profit and stop loss at your disposal which grants you control over your token.

FORMS OF EXCHANGE PLATFORMS

1. Decentralized exchanges that you access via your wallet dapp browser. They allow you to trade network specific tokens though some offer crosschain or cross network trade but are still limited. Examples include Uniswap, Sushi for Ethereum based tokens, Pancakeswap for bsc tokens, Quickswap for polygon tokens and so on.

2. Centralized exchanges that have their own platforms and host a large number of tokens across various chain networks. They have inbuilt wallets that aids easy deposit, transfer and storage of tokens. You can also buy or sell tokens with fiat. We’ll be focusing on these exchange platforms in this post.

RECOMMENDED FEATURES OF A CENTRALISED EXCHANGE PLATFORM

Major factors that influenced my choice of CEX exchanges includes but are not limited to the following:

  1. top notch security
  2.  low fees
  3.  worldwide acceptability
  4.  ease of use

I ended up with the few below. It’s more of a personal recommendation than an outright endorsement.

  1. BINANCE: This is the most popular exchange globally with the largest trade volume. Being the best didn’t make them compromise on quality of service. There are a lot of tokens listed on the platform though they pay more attention to utility tokens. Their platform is easy to use and they have a wide range of deposit and withdrawal options including the famous p2p exchange.

Customer care is top notch and security is solid. However, minimum trade is above $10 and you need to do kyc if you don’t want your transaction limit to be restricted. You can sign up to Binance and get a welcome bonus.

  • HUOBI: A popular Asian crypto exchange with global presence just like Binance. Among the top exchanges ranked according to trade volume. Great security and customer service. Requires kyc which is important if you do transactions online. They have a lower minimum trade amount when compared to Binance and many payment methods are available.
  • GATE: One of the advantage of Gate is that there are more tokens listed than the above two exchanges. That means you have a wide range of tokens to trade. Security is great, same with customer care. Minimum trade amount is low and you need to do kyc. You can check them out here.
  • MXC: This platform is popular because you can trade and withdraw tokens without doing kyc. They offer a wide list of tokens and payment methods. Customer service is great and you’re assured of safety for your funds. You can visit mxc exchange here.

Don’t forget that these platforms charge dirt cheap transaction fees and you can access them via their mobile apps. There are other great exchanges like coinbase, I didn’t list them because they don’t have a global presence.

There are other good crypto exchange platforms with global presence like Okex, Kucoin,  Latoken (you can even trade with as low as $0.5) and so many others but one doesn’t need to have an account with every exchange. Just  stick with the platforms that offers you quality service. Let me know your opinion below.

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