5 Best Cryptocurrency Exchanges for Beginners – Top Picks for 2023

5 Best Cryptocurrency Exchanges for Beginners – Top Picks for 2023

The crypto industry is filled with complexities, making it difficult for newbies to understand. This also causes them to shy away from investing in crypto assets. However, crypto exchanges have come up with ways to address this issue. Most of them have developed features to help new crypto users to trade seamlessly. This article takes a look at the top 5 beginner-friendly cryptocurrency exchanges.

Best Crypto Exchanges for Newbies


Not only does YouHodler support crypto trading, but it also provides decentralized finance services. You can trade Bitcoin, Solana, BNB, and 50 other crypto assets. Beginners who do not want to engage in trading can open a YouHodler crypto savings account and lock funds to earn up to 10% yearly interest. The downside of this platform is that it is only available in the European Union countries.

How to Get Started

Step 1: Go to app.youholder.com to create an account.

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Step 2: Deposit funds. Pro tip: Depositing $100 or more makes you eligible for a $10 welcome bonus.

Step 3: Select the YouHodler service you would like to use. It could be saving or trading.


Being a beginner-friendly crypto exchange, Kraken offers a well-designed user interface to allow newbies to navigate the platform easily. Experienced crypto traders can use the Kraken Pro, a platform that comes with multiple chart analysis tools to help users conduct proper market analysis.

Kraken lets you open leveraged trades and buy and sell NFTs, along with over 200 cryptocurrencies. Regarding security, the platform adopts two-factor authentication to ensure user accounts are secured.

Payment methods accepted include Apple Pay, crypto transfers, credit and debit cards, and bank transfers.

How to Get Started

Step 1: Go to kraken.com, then click “Sign Up.”

Step 2: Follow the instructions for creating an account. After providing all the requested details, an activation code will be sent to your email. Key it in to activate your account.

Step 3: Verify your account by completing the know-your-customer procedure to start trading.


One of the reasons Binance is the most used crypto exchange is that it provides an easy way to onboarding new crypto users. The registration process is simple. Once you have a trading account, you can access the platform’s lending feature, NFT marketplace, or trade in the spot and futures markets. Over 360 crypto assets have been made available for trading, all at minimal fees. To fund your Binance account, you can use credit cards or make crypto and bank transfers.

How to Get Started

Step 1: Go to Binance.com and follow the instructions for setting up a trading account.

Step 2: After providing your phone number or email, Binance will send a code for verification. Submit it to access your newly created account.

Step 3: Like Kraken, Binance will require you to complete the know-your-customer process to start trading.


Known for its quick trade execution, Bybit is undoubtedly among the top exchanges for newbies. The platform can execute up to 50,000 trades within 30 seconds. Bybit offers a wide range of services, including staking, NFT trading, margin trading, and spot trading. In terms of security, all communications on the exchange are encrypted. Moreover, Bybit employs two-factor authentication.

You can deposit funds through bank transfers, crypto transfers, or debit cards.

How to Get Started

Step 1: Go to bybit.com, then hit “Sign Up” and enter your email/phone number and password.

Step 2: After creating the account, complete the verification process to start trading. Bybit will require you to submit proof of address and government-issued documents such as ID.


With OKX, you can purchase cryptocurrencies using your bank card as long as it is issued by MasterCard or Visa. This is the easiest way for beginners to buy their first digital currency. Over 300 cryptocurrencies are listed on OKX. Regarding security features, you can secure your account using Google Authenticator or two-factor authentication.

How to Get Started

Step 1: Go to okx.com and provide your email and a unique password.

Step 2: Enter the verification code sent to your email to access your OKX account.

Step 3: To start trading, complete the know-your-customer procedure.


Although these exchanges are beginner-friendly, they may not suit everyone when we consider factors like trading fees and assets offered for trading. Some charge higher fees than others. Moreover, some exchanges may not list the asset you wish to trade. That said, evaluating these aspects when selecting an exchange is important.

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Michael Varney
About Author

Michael Varney

Michael Varney, a distinguished name in crypto journalism, offers deep insights into the world of blockchain. Merging meticulous research with eloquent prose, Michael's articles decode the complexities of digital currencies, establishing him as an indispensable source for those keen on understanding the evolving crypto landscape.

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