Best Crypto Brokers For Beginners 2024

Top 10 Cryptocurrency Brokers for Beginners

There are a few different options available when it comes to buying and selling cryptocurrencies. One popular option is to use a crypto broker. Crypto brokers are similar to traditional stock brokers in that they provide a platform for buyers and sellers to trade cryptocurrencies. However, crypto brokers and crypto exchanges have a few key differences.

For one, the best cryptocurrency brokers typically offer a wider range of instruments, including futures, options, and CFDs. Additionally, crypto brokers typically provide more hands-on guidance and support than exchanges. This can be especially important for beginners who are new to the world of cryptocurrencies.

While there are many different crypto brokers out there, not all of them are created equal. It's important to do your research and choose a reputable broker with a good track record. Additionally, you'll want to look for a broker that offers the tools and resources that can help you make informed decisions about your investments. By taking the time to choose the best crypto broker, you can help ensure that your experience investing in cryptocurrencies is a positive one.

Here's a look at some of the best cryptocurrency brokers for beginners in 2023:

1

9.4/10

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Your capital is at risk.

Minimum deposit:

$1

Review

The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit). More about Binance Card

Pros/Cons

•low commissions due to liquidity and trading volumes.

•high platform performance;

•proprietary BNB Coin which allows Binance to reduce the commission size;

•a proprietary cold wallet guarantees the security of your crypto assets by storing them.

•complex verification procedure;

•the exchange is not licensed by a regulator;

•The platform can go offline without warning;

•there are complaints about the technical functionality of the platform;

•there is an intricate mechanism for calculating commissions and rewards (grid system Maker/Taker).

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2

9.2/10

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Your capital is at risk.

Minimum deposit:

₮1

Review

The BitGet crypto exchange provides traders with the opportunity to trade in spot, futures, and cryptocurrency. Cryptocurrency is used exclusively as instruments at the exchange: BTC (₿), LTC (Ł) ETH (Ξ), USDT (₮) and others. Trades are carried out on the crypto exchange’s own platform, which is available as a web terminal and an application for mobile devices. BitGet's fees are lower than its competitors in the market, with maker fees of 0.02% and takers of 0.06%. The commission can also be paid with bonus funds that each BitGet client receives upon registration, verification, and a trading account replenishment. There are no fees for maintaining an account, but a commission is charged upon withdrawal, the amount of which depends on the cryptocurrency in which the withdrawal is made. For investors, BitGet offers its own service for copying trades, and it is available at the exchange and at an affiliate program. Novice traders can use demo accounts to hone their trading skills, but there are no educational materials on the website. The BitGet cryptocurrency exchange provides services on an international level and cooperates with traders from different countries.

Pros/Cons

•availability of demo accounts;

•convenient ways to contact the support service;

•a wide range of cryptocurrencies for account replenishment;

•service of copying trades for receiving passive income;

•ability to reduce commissions using credits earned in the bonus program;

•ability to engage in algorithmic trading;

•the exchange uses hot and cold cryptocurrency wallets to store client funds.

•Deposits and withdrawals in fiat currencies are not available.

•There are no educational materials for novice traders on the exchange website.

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3

9.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

$1

Review

The Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.

Pros/Cons

•convenient, intuitive terminal with one-click trading;

•all major cryptocurrencies, as well as seven fiats;

•margin trading, as well as futures and indices trading ;

•large leverage (x5 for margin, x50 for futures trading);

•an extensive database of information and training materials;

•large trading volumes on the exchange provide high liquidity;

•some of the lowest fees in the cryptocurrency market.

•no investment programs;

•no call center.

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4

8.9/10

Go to broker

Your capital is at risk.

Minimum deposit:

$10

Review

Margex was launched in 2019 and is now available to more than 500,000 clients from over 150 countries. It offers more than 40 cryptocurrencies and futures with low fees and leverage up to 1:100. Margex is suitable for active trading, social trading, and staking. It is available as WebTrader and mobile apps for Android and iOS. The exchange doesn’t provide its services to residents of the U.S., North Korea, Cuba, Afghanistan, etc.

Pros/Cons

•Minimum initial deposit is $10;

•Low trading fees are applicable for makers and takers;

•Universal web platform is suitable for active and social trading;

•No fees are charged for currency conversion, deposits, or withdrawals;

•A referral program with rewards of 40% of a trading fee is available;

•Staking without the standard funds blocking is provided;

•Leverage is up to 1:100.

•Small choice of cryptocurrencies as compared to the exchange’s competitors;

•Fiat currencies can be deposited and withdrawn only through intermediaries, which implies additional fees;

•Separate mobile apps for active and copy trading.

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5

8.7/10

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Your capital is at risk.

Minimum deposit:

$2

Review

Coinbase is a popular cryptocurrency exchange, especially sought-after among novice traders. It allows you to trade all cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, BitcoinCash, and others. You will find a web version and an application for a smartphone based on iOS or Android. The crypto exchange provides services to users from 100 countries with more than 43 million active traders registered on the exchange. The total assets on the platform are equivalent to over USD 90 billion. The exchange brings to the table one-of-a-kind training programs that allow you to earn money during the learning process by improving your expertise in the crypto market. Learn what Coinbase is and how the exchange works.

Pros/Cons

•you can trade a vast array of cryptocurrencies on the exchange;

•hassle-free registration and verification;

•all assets are in offline storage;

•the exchange ensures the security of users’ assets;

•available are a free e-wallet and a virtual card;

•complex solutions for individuals, businesses, and developers;

•powerful analytical base and unique training guides.

•there are no passive earning options;

•some of the information is available in English only.

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6

8.6/10

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Your capital is at risk.
Your capital is at risk.

Minimum deposit:

$1

Review

Zoomex, which positions itself as the House of Trading, was established in 2021. Its web platform and mobile apps allow its clients to trade derivatives and execute spot trades with cryptocurrencies. Every day, more than 1 million active traders use the exchange’s services. In general, over 2 million traders worldwide are registered with Zoomex. The exchange provides copy trading, CEX (Centralized Crypto Exchange), and DEX (Decentralized Exchange) on one platform, offers leverage up to 1:150 and allows traders to start with any convenient amount.

Pros/Cons

•High liquidity and average daily trading volume of $200 million according to CoinMarketCap;

•No KYC (Know Your Client) procedure;

•24/7 technical support;

•Trading underlying assets and derivatives is available;

•Client funds are held in cold wallets with multi-level authorization;

•Bonuses for new and existing clients, as well as trading competitions with prizes and fee discounts;

•Built-in copy trading service to automate the trading process.

•The choice of instruments for spot trading is not as diverse as with other exchanges;

•Limited choice of technical indicators in the mobile app as compared to the web platform;

•Only trades with futures can be copied, while the spot market is only available for active trading.

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7

8.4/10

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Your capital is at risk.

Minimum deposit:

$30

Review

The XT.com exchange is a platform for P2P exchange and cryptocurrency sales, including derivatives and margin trading. This is also an exchange for fiat funds. The peculiarity of the cryptocurrency exchange is that it issues its proprietary cryptocurrency and provides users with software for mining. Bitcoin, Ethereum, Litecoin, Tether, Tron, Ripple, and other cryptocurrencies are traded on the website, with over 120 instruments provided here in total. There are tokenized assets. The leverage can be up to 125x depending on the selected asset. Any strategy can be used on the cryptocurrency exchange, including scalping. There are stop loss and profit functions. The storage method for cryptocurrencies is cold. Replenishment and withdrawals are possible from bank cards and accounts to bank cards and accounts. A standard affiliate program and special bonuses for blockchain members are offered.

Pros/Cons

•Cryptocurrencies and other varieties of currencies;

•Replenishment in fiat currencies;

•Favorable trading commissions;

•Leverage is up to 125x.

•Proprietary mining platform;

•Large trading volumes; high liquidity.

•Convenient trading terminal;

•No investment programs (only deposits);

•No training programs or study guides.

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8

8.3/10

Go to broker

Your capital is at risk.

Minimum deposit:

$1

Review

Cryptohopper is a multi-purpose platform that combines its hub functions, copying service, social trading, and an investment portfolio management service. The Cryptohopper terminal trades in Bitcoin, Ethereum, Litecoin, and dozens of other cryptocurrencies and tokens, which are presented on partner exchanges. The one-of-a-kind system stands out for the presence of free-of-charge (the first 7 days) trading bots where you can create and test your bots. The platform also provides an emulator of exchange strategies. There is also an in-depth training system.

Pros/Cons

•cryptocurrencies can be traded on any of the partner exchanges from Cryptohopper’s terminal;

•no fees or fixed payments for using the service;

•profitable partnership and investment program;

•service for copying transactions and auto-trading bots;

•a vast selection of instruments;

•synchronization of accounts on diverse exchanges;

•large trading volumes.

•free mode is extremely limited in functionality.

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9

8.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

$1

Review

Pros/Cons

•a large number of cryptocurrencies and tokens, the list of assets is constantly growing;

•all major options for depositing and withdrawing funds (bank cards and accounts, e-wallets, etc.);

•the crypto exchange provides traders with leverage: for margin trading, it’s 1:3; for derivatives, it’s 1:50;

•the function of cryptocurrency lending, securing a loan with one cryptocurrency at the expense of a deposit in another;

•the opportunity to earn extra money by participating in regular events at the Trading Arena;

•investment solution. The Supercharger allows you to flexibly invest free cryptocurrency funds;

•the ability to pay trading commissions with your own coin of the CRO platform with a partial refund;

•the crypto exchange provides a multicurrency wallet and a Visa Crypto.com plastic card with an 8% cashback.

•no fiat trading;

•the support service does not have a call center;

•there are no full-fledged training programs.

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10

-/10

Go to broker

Your capital is at risk.

Minimum deposit:

$1

Review

The Ledger Wallet exchange for cryptocurrencies is a complex portal designed to trade and store cryptocurrencies. The website includes a multi-platform stock exchange application called Ledger Live and two hardware wallets—Ledger Nano X and Ledger Nano S. For trading on the exchange, hardware wallets are required, they are synchronized with an application that can be installed on a PC or smartphone. The cryptocurrency exchange presents contracts for 27 cryptocurrencies and 1,500 tokens. The most popular cryptocurrencies traded on the exchange are Bitcoin, Ethereum, Litecoin, Ripple, and BitcoinCash. Cryptocurrency can be stored in a wallet in the Ledger Wallet app or in your third-party wallet.

Pros/Cons

•You can trade the most popular cryptocurrencies and their tokens on this exchange;

•no restrictions on the deposit or withdrawal funds and you can use your wallet;

•high activity on the exchange and a large volume of transactions;

•own training programs and regular market analytics;

•unique developments in the field of hardware cryptocurrency-wallets;

•convenient Ledger Live application with simple functionality;

•Polkadot integrated zero-level blockchain.

•the website and software are not localized into other languages, the interface is available only in English;

•technical support is also only in English;

•the usage of Ledger Nano hardware wallets is required; you can operate on the exchange only in this way.

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How to Choose the Best Crypto Broker For Beginners?

When it comes to choosing the best crypto broker, there are a few things you need to take into account. Make sure that the broker offers the services and features you need. Check out the broker's website and see what kind of services they offer as some brokers will offer basic services, while others offer a wide range of services, so choose one that matches your needs.

Make sure that a reputable financial regulator regulates the broker to ensure your money is safe and that the broker is legitimate. Read reviews of the broker before you choose one. This will give you an idea of what other people think of the broker and whether or not they would recommend them. Below are some of the most crucial aspects of a crypto broker you should analyze.

Reliability

Reputation is everything in the world of business, and that includes the world of cryptocurrency brokers. If a broker has a good reputation, it means that they have a history of satisfied customers. Look for online reviews and see what people are saying about the broker before you commit to working with them.

You want to make sure that your broker is security-conscious and trustworthy. One way to do this is to check their regulatory bodies. These are the organizations that oversee the brokers and make sure they're adhering to best practices. Some examples of regulatory bodies include the FCA in the UK, the CySEC in Cyprus, and the ASIC in Australia.

You should also look at the broker's security features. Make sure they have industry-standard encryption in place to protect your data. Also, check to see if they offer two-factor authentication (2FA). This adds an extra layer of security. Other than that, you should be able to get in touch with customer support easily if you have any questions or concerns. Test out the customer service before you commit to working with a particular broker.

Educational Materials

The best crypto broker offers a variety of educational materials. For example, most brokers offer video courses and tutorials that can teach you the basics of cryptocurrency trading and webinars where you can learn more advanced strategies from experienced traders. Plus, the best cryptocurrency brokers also have an educational blog where you can find helpful articles on a variety of topics related to cryptocurrency trading. Some of the educational materials that a good crypto broker will offer include:

By offering all of these resources, a broker can ensure that their clients have all the information they need to make informed decisions about their investment portfolio.

Multilingual Customer Support

The best crypto broker offers multilingual customer support. It shows they're willing to go the extra mile to accommodate their customers. By offering multilingual customer support, crypto brokers can reach a wider audience and assist those who may not be able to speak English.

This is especially helpful for those who are new to the world of cryptocurrency and may not be familiar with all of the terminology. In addition, multilingual customer support also helps to build trust and confidence in the broker. After all, if a broker is willing to go out of their way to help you, they're likely to be just as helpful regarding your investment decisions.

Passive Income Options

When it comes to earning money from your investments, there are a lot of options out there. The best broker for cryptocurrency offers multiple passive income options.

Passive income options like staking, air drops, direct lending, and earning interest can help you earn money without putting in a lot of effort. And best of all, these options can offer you a great return on your investment.

So if you're looking for a way to earn extra money, check out a crypto broker offering passive income options. You may be surprised at just how much money you can make.

Fees

When it comes to crypto trading, one of the things you need to be aware of is the fees your broker will charge. These fees can eat into your profits, so it's important to understand what they are and how they work. Most brokers will charge a commission on each trade that you make.

This can be a fixed fee or a percentage of the total trade value. Some brokers also charge monthly or annual membership fees, so it's important to factor all of these costs into your trading strategy.

How to Start Trading Crypto

In order to start trading with a cryptocurrency broker, you need to:

Cryptocurrency trading is not much different to Forex trading or working with other assets. The goal is to buy low and sell high. If you work with contracts for differences (CFDs), then you can earn on the price difference. If you are just starting to trade in the financial markets, it is recommended to take one of the educational courses.

Is Crypto Trading Risky for Beginners?

Crypto trading can be a very risky endeavor, especially for beginners. There are a few key risks to be aware of before getting started.

Volatility: The value of cryptocurrencies can fluctuate dramatically, and this can make it difficult to predict what your returns will be. This volatility also makes it easy to lose money if you're not careful.

Weak regulation: Cryptocurrencies are not currently regulated by any government body. This lack of regulation creates opportunities for fraud and manipulation.

Decentralization: Cryptocurrencies are not subject to the same rules and regulations as traditional investments. This decentralization makes it more difficult to track and assess the risks involved.

Hacking risks: Cryptocurrency exchanges have been subject to hacks in the past, which has resulted in the loss of millions of dollars worth of digital currency.

Unclear valuation: Cryptocurrencies are not yet widely accepted, which makes it difficult to determine their fair value. This lack of clarity could lead to investors overpaying or undervaluing their assets.

With a reasonable approach and risk management, these risks can be significantly reduced and profit potential increased. For example, diversification is key in any investment strategy, and this is especially true in the world of crypto. By investing in a variety of assets, you can mitigate the effects of volatility and maximize your chances of success.

Also, long-term strategies are more successful in cryptocurrency markets than short-term ones. Avoid lump-sum investing - putting all your eggs in one basket - because though it may be tempting when markets are on the rise, it exposes you to greater risk if prices fall. Finally, don't be a victim of FOMO (fear of missing out) or FUD (fear, uncertainty, and doubt). These emotions can lead to impulsive decisions that can cost you dearly in the long run.

Methodology for compiling our ratings of crypto exchanges

Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include: