The year is 2023, and ‘cryptos’ are word of mouth. Almost everybody wants to be a part of the industry, mainly for the massive returns that it has on offer. Moreover, considering that the industry had one of the coldest years since its inception, now would be the right time for beginner investors to put their money into potential projects and watch them grow.
But how do you get started with crypto trading? Would you need to have Bitcoins to invest in them? Or do you transfer money from your bank to someone?
The answer is simple, investing in reliable crypto exchanges. So continue reading as we clarify your doubts while giving you an overview of the top exchanges where you could start your journey in 2023.
Editor’s Picks For Top Crypto Exchanges
- Best Overall: eToro
- Best For Trading: Kraken
- Best To Earn Interests: Uniswap
- Best For Altcoins: Binance
Top Crypto Exchanges For 2023
eToro
Kicking our list of the top crypto exchanges is eToro, one of the most beginner-friendly platforms in the industry. Found in 2007, eToro is spread across 140 countries and has over 25 million customers.
Designed to focus on beginners, the platform introduces concepts like copy-trading, demo trading, and news feed, among other interactive features. The platform also features stringent security measures along with a low fee of 1% on every transaction.
What’s more? The platform can also trade in CTF and stocks, among other traditional assets.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| Comes with a beginner-friendly UI. | eToro isn’t available in every country. |
| Available across 140+ countries | Doesn’t offer crypto-to-crypto trading pairs. |
| Affordable fee structure, at 1% of the transaction. | |
| Has a demo trading feature. |
Crypto.com
Launched in 2016, crypto.com is among the most established exchanges in the market today. The platform is available across 90+ countries and hosts over 250 crypto tokens for the ease of diversification of its users.
In addition to its global-level popularity and many supported assets, crypto.com comes with its Blockchain, Crypto.org Chain. Once signed up, you can start your trading journey for free. However, the platform charges up to 0.4% on trades for trading volume below $25,000.
What’s more? The platform also has a native token ‘CRO,’ a visa card for cryptos, and yield-generating products.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| Access to over 250+ crypto tokens | Has weak customer support. |
| Available across 90+ countries. | High fees unless you use CRO. |
| Offers multiple ways to increase your crypto gains. | |
| Provides users with a visa card for cryptos. |
OKX
Next up, we have OKX, another reliable crypto exchange designed to keep the likes of young investors. Found in 2017, this relatively new exchange offers a wide range of services to over 20 million users globally.
The platform comes with a beginner-friendly UI accompanied by flexible payment options. Once you sign up, you can fund your account using a bank account or credit card. Additionally, the platform also has its Blockchain called OKEx.
What’s more? Users can stake their tokens for significant returns and trade with a competitive fee structure ranging from 0.08%–0.10%.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| Has over 20 million users globally. | The platform isn’t available everywhere. |
| Trading fees start at just 0.10% per trade. | Has weak customer support. |
| Users have the option to stake their crypto for a high yield. | |
| Flexible ways to fund your wallet using a bank account or credit card. |
Gemini
Fourth on our list is Gemini, one of the unique crypto platforms based on security and compliance. This NY-based platform comes with hot wallet insurance to ensure the complete security of its users in case of a cyber attack.
However, apart from the stringent security, the platform is about a flexible trading experience. Gemini offers over 100 digital assets for users to start their crypto journey. Once signed up, you can easily invest and even stake your cryptos to earn handsome interest.
Users are entitled to receive $10 BTC after they trade $100 in crypto. Regarding fees, users need to pay between 0.4-1.49%, depending on the trade size.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| An intuitive application that offers a seamless trading experience. | Comparatively high trading fees. |
| One of the largest exchanges in terms of assets. | Supports few cryptos in comparison to other exchanges. |
| Offers a secure trading platform. | |
| Provides access to over 100+ digital assets. |
Binance
Next up, we have Binance, the largest crypto exchange in the industry. Found in 2017, it is one of the most significantly growing platforms in the industry. Like other exchanges in the platform, Binance also has its Blockchain network to streamline the pace of the transaction over its platform.
Once signed up, users can choose among 350+ crypto tokens that allow them to diversify your platform. In terms of fee, Binance will enable you to trade in cryptos for only 0.0-0.01% of the transaction. Of course, the fee reduces with an increase in the transaction size.
Additionally, users can also enhance their trading experience using the advanced trading tools present on the platform.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| Largest crypto exchange in the industry. | The platform can be confusing for beginners. |
| Competitive trading fees range between 0.0-0.01%. | It has a history of security attacks. |
| Multiple trading assets for users to diversify their platform. | |
| Flexible ways to fund your account. |
Uniswap
As a beginner, you can’t overlook the Uniswap crypto exchange as a reliable option to get started. As one of the first DEX (Decentralized Crypto Exchange), it offers high liquidity to its users. Users can kickstart their crypto journey without undergoing the KYC (Know Your Consumer) process.
The platform allows you to swap all the ERC-20 tokens over a few clicks via its intuitive UI design. You can quickly proceed with your transactions at just 0.3% off for all trade sizes.
What’s more? One of the most significant advantages of using Uniswap is that you can easily swap crypto tokens without creating an account.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| Offers liquidity mining for ease of checkout. | The platform doesn’t accept fiat currencies. |
| Ease of swapping all types of ERC-20 tokens. | It has weak customer support. |
| No need to complete the KYC verification process of any type. | |
| Complete control over your crypto assets and digital assets. |
Kraken
As one of the most significant exchanges in the industry, Kraken is designed to offer a huge variety of beginner-friendly features for users. The platform was established in 2011 and has come a long way in providing over 180+ crypto tokens for users.
Once signed up, users can execute trades using 13 different order types. In addition, the platform offers instant fees for spot trades, up to 1.5%. However, trading over Kraken ranges between 0-0.26%. Plus, users can switch to the Kraken Pro program to reduce their trading fees and leverage other professional-level trading tools.
Lastly, the platform offers an exclusive range of educational resources for beginner traders. This way, the platform allows you to trade and educates you more about the industry.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| Offers a Pro account for a premier trading experience. | The platform has limited funding options. |
| Competitive trading fees can reduce with different crypto pairs. | Verifications and deposits generally take some time. |
| Options of crypto staking and margin trading. | |
| Flexible ways to fund your account. |
AvaTrade
Last on our list of possible crypto exchanges to start your 2023 is AvaTrade. Found in 2006, it is among the first crypto exchanges to set foot in the industry. The platform is known for offering stringent security to its 300,000 customers around the globe. In addition, being one of the most regulated trading platforms, it is also entirely safe for beginner traders.
Once signed up, users can delve between different trading assets, ranging from CFDs to stocks and cryptos. The broker offers minimal spreads and high-leverage options for other assets listed over its exchange. Although in terms of fees, you can get started for free, AvaTrade charges no commission. However, users must pay a spread of 0.91 pips.
Additionally, fees for purchasing cryptos range from 0.25-2% of the entire transaction.
Here’s an overview of the pros and cons of the platform:
| Pros | Cons |
| Has a user base of over 300,000 crypto traders and investors. | Forex fee might be higher than some platforms. |
| Offers an intuitive trading application. | No staking options. |
| Competitive trading fees that reduce with quantity. | |
| No charges on deposits or withdrawals. |
Final Thoughts
Starting your crypto journey can be intimidating. However, with reliable trading platforms, the journey becomes more accessible and simplified. But remember, you can’t just sign up for any crypto exchange.
Almost every crypto exchange on the internet markets itself as the ‘best.’ So before you sign up, check on all the different aspects of the platforms, especially around the fees, security, and liquidity, among others. All the best!
