Best Cryptocurrency Exchanges For Beginners in 2019

If you are just getting started in the cryptocurrency world, it’s crucial that you use a cryptocurrency exchange for beginners. Otherwise, you will not only find it difficult to get involved in this exciting space, but you also risk losing money. There are many cryptocurrency exchanges for beginners to choose from, and each offers slightly different functionalities. See our article below to learn which are your best options, and what you need to watch out for.

Our picks for best cryptocurrency exchanges for beginners:

Product Features Overall Price Buy Now
coinbase review

Coinbase Review

  • Ease of use
  • Trustworthiness
  • Customer Service
  • Coin Choices
  • Fees
1.49% fee Visit Coinbase
etoro review

eToro Review

  • Ease of use
  • Trustworthiness
  • Customer Service
  • Coin Choices
  • Fees
1.25% fee Visit eToro

Cash App Review

  • Ease of use
  • Trustworthiness
  • Customer Service
  • Coin Choices
  • Fees
0% fee (spread) Visit Cash App
Robinhood review

Robinhood Review

  • Ease of use
  • Trustworthiness
  • Customer Service
  • Coin Choices
  • Fees
0% fee Visit Robinhood
kraken review

Kraken Review

  • Ease of use
  • Trustworthiness
  • Customer Service
  • Coin Choices
  • Fees
0.26% fee Visit Kraken

What is a cryptocurrency exchange for beginners?

A cryptocurrency exchange is a platform that is used for buying and selling cryptocurrency. Although there are dozens of cryptocurrency exchanges out there, all of them fall into one of the following three categories:

  • Cryptocurrency exchanges for beginners
  • Cryptocurrency exchanges for advanced investors
  • Cryptocurrency exchanges with margin trading

Since its the core focus of this article, we will only be focusing on the first category in this section.

Cryptocurrency exchanges for beginners are exclusively focused on ease of use. They aim to provide a simple bridge for newcomers to enter the world of cryptocurrency and usually also offer a smartphone app in order to make the experience even smoother.

These cryptocurrency exchanges, like in the case of Coinbase, are also extremely careful with the coins they list. They not only do this in order to be compliant with local regulations, but also in order to protect their users. Therefore, you will only find major coins like Bitcoin, Ethereum, Litecoin, and a few more, on cryptocurrency exchanges for beginners. This obviously has a benefit because it does not expose users to hyper-risk coins, but on the flip side it also reduces the number of different coins that cryptocurrency investors can purchase.

Another characteristic of cryptocurrency exchanges for beginners is that they usually have an excellent knowledge base in order to educate their users and brilliant customer service. These two features are crucial things to watch out for since you may run into issues or have questions when buying cryptocurrency for the first time.

How we picked the best cryptocurrency exchanges for beginners

We realize that every user has his own preferences when looking for a cryptocurrency exchange to buy their first coins at, so in order to prepare a review that is balanced for all readers, we have ranked cryptocurrency exchanges by their user experience and their pricing and commission structure.

The following aspects were considered particularly important in determining the best cryptocurrency exchanges for beginners that you see on the above list:

  • Ease of use: The key advantage of cryptocurrency exchanges for beginners is that they are very simple to use. This improved user experience usually comes in the form of a clean user interface that highlights the core features in a very comprehensible way, and that omits functionalities that beginners don’t really need.
  • Customer support: As a beginner in the cryptocurrency world, you may have a few questions prior to purchasing some coins, or after you already bought them. Great cryptocurrency exchanges for beginners have an excellent customer support where any question you have is answered in just hours.
  • Trustworthiness: Like any other financial service as well, its crucial that the cryptocurrency exchange you use is trustworthy. After all, you will be depositing money to it. In our list we have only selected exchanges that are completely compliant with their local regulations and where the team is publicly known and respected.
  • Investment choices: Beginner cryptocurrency exchanges usually have rather limited investment choices, only offering the most established coins. This way, exchanges protect users from investing in smaller and riskier coins. However, excellent beginner crypto exchanges will do a lot of due diligence in order to also safely list smaller coins that might yield greater returns.
  • Commissions and fees: A key factor to watch out for when choosing a cryptocurrency exchange is cost. This cost can be in plain sight in the form of withdrawal fees or commissions, but it can also be hidden in the form of spreads where the exchange quotes you a higher price for a cryptocurrency than in other exchanges.