When you engage with crypto trading, many questions arise:
- What assets to buy?
- What strategy to pick?
- Where to store coins?
- What crypto exchange to pick?
In this article, we will talk about one of these issues – choosing a platform for trading cryptocurrency.
What Should a Beginner Trader Consider When Picking an Exchange for Trading?
First and foremost, you should refrain from being guided by promises and low fees many exchanges offer to beckon new clients. Keep in mind that the competition in the crypto market is huge, so you will definitely pick a worthy exchange, but it will take time. Look at the following factors:
- The level of the exchange’s safety. Is it an official service? Is there registration?
- The number of crypto pairs available.
- The opportunity to convert fiat to crypto and back. Can you withdraw funds from the platform to your bank card?
- Reputation and reviews on the Internet. What troubles did other users face working with this platform?
- What are the fees?
- What trading tools are available?
The Best Exchange for a Novice Trader
Try the WhiteBIT crypto platform. It is an official exchange with European registration. It complies with all the requirements in the crypto field. Clients who do not register get limited access and withdrawals. The platform supports over 450 trading pairs and allows you to buy cryptocurrencies with cash using your bank card. There are many tools that allow to trade crypto with benefits:
The platform offers a demo account. This option is widespread among novice traders, for it allows you to try trading, see how its tools work and get enough practice before you get started in the real market. WhiteBIT users note that the platform has a convenient interface. Besides, it can be adjusted according to your needs and experience – basic or advanced.