With the rise of Bitcoin, it’s no wonder people have finally decided to get involved with cryptocurrencies. The coin market has a combined value that exceeds $100 billion. There are many countries that are looking to promote mainstream usage of altcoins, such as DasCoin.
For beginners, finding the right exchange can help you to avoid common scams and start earning profits that you can securely withdraw. For starters, make sure that the exchange supports a wide number of altcoins, like DasCoin. Having a diversified portfolio is essential when you trade. With more than 1,300 coins listed on popular websites, every beginner has a difficult choice to make. With the complexities of exchanges, wallets, and the coins itself, the cryptocurrency market is never a place to make a decision without doing proper research prior.
Considerations in Selecting Exchanges
Consider the following when choosing which exchange you will use:
Top-of-the-line user interface (UI) and user experience (UX): If you have just started to use cryptocurrency, a good exchange is a website that allows you to quickly navigate without problems. Exchanges should be designed with simple interfaces so that individuals with a basic understanding can trade successfully. Websites with infographic analysis and other graphical presentations help beginners understand basic trading principles.
Reputation: Select only the exchanges which are trusted by traders. You can find a number of reviews in forums and discussions. Usually, all the top rated exchanges are safe and secure.
Mobile Applications: Having a mobile app for an exchange helps beginners to trade in cryptocurrencies on the go and at their convenience. Exchanges like Binance have very intuitive mobile apps for users.
Top Beginner-Friendly Exchanges to Trade Altcoins
Here are some of the recommended exchanges for beginners:
Coinbase is one of the most trusted cryptocurrency exchanges in the world. Coinbase has only a limited number of altcoins currently available, although the list is expected to grow over time. Coinbase is perfect for beginners as it is user-friendly and is trusted by the crypto community
Beginners looking for a diverse portfolio can trade through Binance. More than 200 altcoins can be found at Binance. Binance is appreciated by many for its responsive website and the overall ease of use.
KuCoin in a new digital currency exchange based out of South Korea. KuCoin’s website has received many accolades for its simplicity, which allows for better understanding of the platform. KuCoin lists the altcoins very faster than any other websites. So if you find out a promising new coin that is gaining popularity, chances are that it will come out on the KuCoin exchange first.
Bittrex is considered as an excellent website platform for a beginner to trade in multiple altcoins. Although the transaction and trading fees are a bit higher, as compared to other exchanges, it provides unmatched safety and security features. Bittrex has a strict policy when it comes to listing coins. If safety is your utmost concern as a beginner, you can’t go wrong with Bittrex.
Final tips for beginners
As a beginner, you should try to stick to a single exchange platform before you plan to get more money into your portfolio. Beginners looking out to buy altcoins, like DasCoin, should do proper research when selecting an exchange. Platforms like Binance are the best for a beginner and offer lots of coin options.