We explain how to trade cryptocurrency for beginners. To start cryptocurrency trading you need to select the cryptocurrency wallet and exchange to trade. From there it is as simple as getting verified with the exchange and giving your account money (a process that can take a few days). Once you are verified and your account is funded, the only thing left is to buy or sell crypto using limits, stops and / or market orders. Through this post we are going to cover the Cryptocurrency trading for Beginners.
Binance Exchange no longer needs an introduction as it has been ruling the crypto market for months. This exchange is good for beginners and advanced users. Their UI also has an inbuilt option to switch between the two modes, a feature that makes their UI very user friendly. In addition, you will never face a liquidity issue using binance as it ranks among the top 5 exchanges on CMC by consistent volume. Also, if you use your original BNB token while trading, your trading fee can be reduced by up to 50%, which is a huge amount, if you want to become a full-time crypto merchant. The sooner you start through BNB, the longer you will save. And the best thing I found was that they have the most advanced and easiest to use mobile application for trading cryptocurrencies on Android as well as iOS.
Coinbase is another exchange that supports Bitcoin, Bitcoin Cash, Ethereum and Litcoin. It is a very simple and easy to use user interface. Unlike Binance, Coinbase allows you to exchange your fiat-currencies for cryptocurrency and vice-versa. The exchange allows you to enable two-factor authentication allowing you to have firm assurance on the security of your fund. However, the exchange strictly requires the required no-your-customer details before pursuing any trading activity. Additionally, Exchange has a responsive mobile application that allows its user access to its portfolio. Also, to get started on Bitfinex, you need to register your ID, verify and authenticate yourself. It usually takes 15-20 business days after you submit a valid ID proof before being accepted into the platform.
Bitfinex is one of the oldest players in the race for crypto exchanges for beginners. It is similar to Bitrax, but on the contrary it occurs in Fiji currencies such as USD, Euro and GBP. Bitfinex always has a huge volume so one should not worry about liquidity when buying or selling on this exchange as it always ranks in the top 10 on CMC. Also, the Exchange UI is clean and there are enough instructions on each page that will help any noob to use it efficiently.
CEX.io is a UK-based exchange that offers the buying/selling of cryptocurrencies. It is also one of the beginners’ friendly websites because of the easy-to-use user interface and accessible trading tools. Similar to Coinbase, CEX.io also allows the exchange of crypto-to-fiat and fiat-to-crypto transactions. Additionally, as an effort to make things easy for the users, the exchange is made available across all the major mobile platforms including Android and iOS. CEX.io takes all necessary security features seriously. The use of two-factor authentication and security queries are also employed for account security. In addition, most coins are stored in a cold wallet. The exchange also provides SMS and email alerts.