Best Crypto Exchanges for Beginners to Buy & Trade Cryptocurrencies

Throughout 2021, Bitcoin surpassed $1 trillion in market value for the first time, and interest in non-fungible tokens (NFTs) exploded when Beeple’s NFT sold for $69 million. El Salvador even adopted Bitcoin as legal tender, and we saw the launch of the first U.S. futures-based Bitcoin ETF. 

All of this has contributed to a heightened interest in cryptocurrencies as a whole, and if you are a beginner just starting to get into the world of cryptocurrencies, you will need to find a solid crypto exchange through which you can begin your journey.

Top 5 Best Crypto Exchanges for Beginners in Review

Today, we will be exploring the five best cryptocurrency exchanges that you can pick from today to make your entry into the world of crypto a bit easier. Before making a decision, ensure that you go over the fees of each exchange, the tokens on offer and consider the utility of their native cryptocurrency tokens, assuming the exchange in question has one.

#1 Crypto.com

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Crypto.com is one of the largest cryptocurrency exchanges, which was originally founded in 2016. It offers a wide range of cryptocurrency tokens, which will help beginners gain access to a diversified portfolio with ease. 

Some of the key advantages that Crypto.com offers are its native Crypto.com Chain, alongside its CRO cryptocurrency token. When we go over the exchange fees, they are split across different levels, starting at a 0.40% taker fee and a 0.40% maker fee. When you stake the CRO cryptocurrency token, you can get an additional 10% discount on these fees.

#2 Etoro

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eToro is a cryptocurrency brokerage that was initially founded in 2007 and currently has a strong user base split across 140 countries on a global scale, including the United States. However, eToro only offers access to a handful of cryptocurrencies, and you will not find many altcoins on offer, so keep that in mind. 

Its main point of appeal for newcomers comes due to the fact that it is regulated and licensed by CySEC in Europe and the FCA in the U.K. The fees of trading cryptocurrencies range from 0.75% to 2.90%, depending on the cryptocurrency in question. Note that eToro is mainly used for CFD trading, so you do not really own the cryptocurrency tokens themselves, but a contract. Its simplistic user interface is what makes it great for beginners. 

#3 DXOne

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DXOne is a cryptocurrency exchange that launched in 2020. However, it has been a point of appeal for many experienced cryptocurrency traders as well as newcomers due to its ease of use. 

By default, DXOne has a 0.40% taker fee and a 0.40% maker fee. However, DXOne utilizes its own cryptocurrency token known as the DX1U token, where through holding the token, users gain access to a 50% discount on the aforementioned fees, making it both one of the easiest exchanges to use, as well as one of the most affordable options in terms of fees.

#4 Revolut

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Revolut is a cryptocurrency exchange that started in 2015. However, it launched cryptocurrencies in 2018. It is a service that lets users buy, sell and send digital currencies through a simplistic user interface. 

It has three plans, including the Standard, Premium, and Metal plan, where each of them has its own fees associated with managing cryptocurrencies. The standard plan has a fee of 2.5%, while the premium and metal plan has a fee of 1.5%.

#5 Paxful

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Paxful is a peer-to-peer (P2P) cryptocurrency exchange and digital wallet that lets users buy and sell crypto through a variety of different payment methods. It was founded in 2015 and supports Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT) as cryptocurrency options for traders. 

However, it does support over 100 FIAT currencies when making a deposit or buying crypto, which can work exceptionally well for newcomers. Paxful does not charge any fees when it comes to buying cryptocurrencies. However, an exchange fee is set by the other customers and account owners. The transfer fees vary by the payment method selected, but the lowest is a 0.5% fee.

What is the best Crypto exchange for Beginners?

DXOne is the recommended option for buying cryptocurrencies for beginners due to its simple user interface and its native DX1U token, which adds a higher level of utility to the exchange and introduces newcomers to another use-case for cryptocurrency tokens.

Summary

Each exchange offers something interesting to the table, and newcomers will feel comfortable using any one of these offerings. DXOne is specifically recommended due to the enhanced reduction of fees provided by its native cryptocurrency token; however, always remember to do your own research and see which exchange fits your specific needs best. Remember to always use a private cryptocurrency wallet.