Last updated on April 3rd, 2023 at 07:02 pm
Virtual Currencies, Exchanges, and tips for Beginners
If your beginner journey into the world of virtual currency leaves you confused over what differences there are between a cryptocurrency wallet and an exchange, then you’re not alone.
I’ll give you a quick but effective hand out of your confusion in no time.
A cryptocurrency wallet does exactly what your physical purse or wallet does with your currency notes, except it is digital and for digital currencies—it has a public and/or private key for transactions and serves to keep your cryptocurrencies.
To find out the best cryptocurrency exchanges as a beginner (if you’re one), you must be able to distinguish a wallet from an exchange. An exchange is a digital platform that allows for the buying, selling, trading, and exchange (switching one currency to another) of cryptocurrencies.
Here are some examples of cryptocurrency exchanges: Coinmama, Binance, Bitstamp, Coinbase, Luno, Kraken, etcetera.
In this article, we present to you three of the best exchanges for newbies based on how much there is to benefit from their amazing easy-to-use features. They are:
One of the upsides of using popular names like Binance is the advantage of finding good counsel or solutions when you’re stuck. If you’ve ever been a beginner at something, you can tell that getting confused along the line happens all too often.
And you want to find help once you’re stuck, don’t you? If you use Binance, in addition to how easy their website and app are to navigate, you would find a thousand fellow crypto traders who know their way on the app. Your friends would be more than willing to put you through.
And even better, the platform itself is super easy to understand. Binance offers features like:
- Non-fungible tokens (NFTs).
- Secure Asset Fund for Users.
- 24/7 Chat Support (which starters must find useful).
- Binance Earn (hold your crypto funds and then start earning).
- Mobile Applications.
- Personalized Access Control.
- Binance Pay and Binance Marketplace, etcetera.
Binance hosts over 600 cryptocurrencies, boasts of 90 million registered users, and charges a transaction fee as low as 0.10% (many others charge around 0.25%). It’s a secure and fast platform for all who are willing to build their portfolio and explore endless trading possibilities.
You can find Binance here.
Coinbase is a cryptocurrency company for buying, selling, storing, and transferring electronic currency. By trading volume, it is unarguably the largest cryptocurrency exchange platform in the United States of America.
The platform provides a reliable and secure avenue to buy, hold, sell, or transfer cryptocurrencies like Bitcoin, Ethereum, Cardano, Solana, etc. while enjoying an array of cool features that make it one of the best places to begin your trading journey.
Only a simple stroll through the official Coinbase website is enough to show you how simple they are as a company and how beginner-friendly the services are. Other reasons to choose Coinbase are:
- A secure offline storage for the vast majority of digital assets.
- FDIC insurance (to a maximum of $250,000).
- A coin listing of all the major cryptocurrencies in the world, etcetera.
Coinbase is supported in over 100 countries and records over 98 million verified users. And all it takes to get started with them is a few minutes; you can find out more HERE.
With a rich variety of account types, Kraken is particularly awesome for beginner firms or individuals looking to trade features. Kraken is called a “crypto-first” platform and rightly so because it offers advanced cryptocurrency options.
Testifying its reliability is that Kraken is one of the oldest cryptocurrency exchange companies in the world. Founded in 2011, Kraken, alongside Coinbase which was founded in 2012, are some of the ageing fellas whose model the younger geniuses look to emulate (and build upon for what may be called improvements).
Kraken is supported in more than 190 countries and lists over 100 different digital coins, and even has an “Education” section, a learning center for crypto or trading freshers who aren’t sure where to start.
Disclaimer: The above list expresses the opinions of the contributor who authored the blog post. The list follows no ‘industry stipulations’ as pertains to exchange listings, as there are none. What you do with the information, how much of it you embrace or reject, is your sole decision and is at your disposal.
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