Best Crypto Exchange: A Beginner’s Guide

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In this post, we will help you find the best crypto exchange in Australia, US, UK, and New Zealand for your needs. You’ll learn about the different types of exchanges and how to choose one that meets your requirements. We also provide a list of features you should consider when evaluating an exchange before deciding on which one is right for you!

Why Are Some Crypto Exchanges Not Available in the United States?

If you’re a US resident, there are several reasons why some crypto exchanges might not be available in your country. Some countries and states forbid trading cryptocurrencies altogether for their citizens (like China). The legality of Bitcoin is still under debate in the United States as well. This makes it much harder to find an exchange that can legally service customers from the USA.

Despite these issues, there are many cryptocurrency exchanges used by people around the world who reside in or visit America like Coinbase, Binance, Kraken, etc. These platforms provide a great experience overall with reasonable fees and all major coins/tokens on offer – making them our top choices out of this list!

What To Consider When Choosing a US Crypto Exchange

If you’re in the US and are looking to buy cryptocurrencies, we recommend trying out Coinbase or Binance. However, there are a few things that can help guide your decision when choosing an exchange:

Fees

The fees for buying crypto vary between exchanges because they all have different fee structures. Some of them might charge a flat rate while others may be more complicated with their rates depending on several factors like trading volume or withdrawal limits (some platforms don’t even charge if you withdraw less than $25). They also take a small cut from each transaction which adds up after purchasing large amounts of cryptocurrency. You’ll want to find one at reasonable prices!

Location

Where is the platform located? If it’s not available in your country then it’s not a good option for you. Some exchanges have locations in several countries and are more likely to be available across the world – so that should factor into your decision as well!

Liquidity

The number of people using an exchange affects liquidity. More users mean there is a higher chance of finding someone willing to sell at your desired price point (the best prices will always be found when lots of buyers want to purchase cryptocurrency). This shouldn’t really affect where you choose, just make sure they’re popular with other traders around the globe or regionally if possible.

Supported Coins/Tokens

Does a platform only support a few cryptocurrencies? That might work great but isn’t ideal depending on what tokens and coins you need access too.

What are the Best Crypto Exchanges in the United States?

If you’re in the US and are looking to trade cryptocurrencies at a reasonable price with no major limitations, then Coinbase or Binance will suit your needs. If any of the exchanges mentioned below fit what you need as well (like certain coins/tokens on offer), they deserve an honorable mention too!

Coinbase

Our recommended platform for new users that’s got great prices, supports multiple countries around the world plus reputable customer service. It also has one of the best crypto exchange apps out there which makes buying and selling crypto easy anytime anywhere!

Kraken

This exchange is known for its low fees across all transactions but it doesn’t support fiat currency withdrawals as most other platforms do. They’ve been operating since 2011 so have plenty of experience which is a plus!

Binance

This platform recently expanded into the United States market, making it one of the most popular exchanges for users in America. The interface was created with experienced traders in mind but beginners should also be able to get used to this exchange after some practice (it’s very intuitive). They don’t support fiat currency withdrawals either and they charge fees that vary depending on your trading volume/withdrawal limits (the rates are lower when you withdraw less than $25 worth of cryptocurrency).

Bittrex

Bittrex has been around since 2014 so they’re reputable enough too if any other platforms aren’t available in your country or state. It supports more than 190 cryptocurrencies which might make them another good option as well! You’ll find all the top coins on this platform too which is a nice bonus.

Best Crypto Exchanges in Australia

If you are new to cryptocurrency, then it is best that go with the most popular and trusted exchange in Australia. Coinbase is one of those exchanges which have been around for a long time now. It lets you buy Bitcoin as well as Ethereum by paying through your credit card or bank account; however, there are fees involved too depending on how much money you want to put into the market.

Then we have an Australian-based company called Coinjar where payment can be made via direct deposit from your bank account but again requires some fees because they themselves charge a toll for any purchase done using their service.

Even if these two services let you pay using fiat currency (Australian Dollars), another option would be LocalBitcoins which allows users to trade cryptocurrencies directly with each other for cash. In this case, there is absolutely no fee and you can get your hands on any amount of Bitcoin that you wish to purchase without worrying about the exchange rate or anything like that at all!

For those looking for more than just buying cryptocurrency, Kraken lets users trade cryptocurrencies as well in addition to letting them store their digital coins in a wallet if they would want to do so.

Similar exchanges include Poloniex which has been around since 2014 and allows both margin trading (up to 100X) as well as liquidity swaps with over 60 different currencies being supported by the platform itself.

What are the Best Crypto Exchanges in New Zealand?

New Zealand has a small cryptocurrency market, but it’s quite active. There are several crypto exchanges available for New Zealand-based customers and they’re all different in terms of functionality and costs associated with them.

The best crypto exchange is CoinSpot, but the difference in cost between it and other options listed below might be quite significant. It’s a good choice for beginners due to several factors:

  • there are no commission fees charged when trading with fiat currency (NZD),
  • the verification process takes only up to 24 hours (you can also choose the ‘instant-verified account’ feature) and you get access to all pairs of currencies that exist on this platform.

The second option would have been eToro because it has low costs associated with trades which makes them really cheap for newcomers who want more experience. However, they don’t allow their users to trade directly using the New Zealand dollar or any other local currency available worldwide – customers need to deposit funds in USD, GBP, or EUR.

The last platform on the list is Binance which has high fees associated with trades and a steep learning curve as it requires more advanced knowledge of how cryptocurrencies work. Those who are already familiar with crypto trading might find this option interesting due to lower costs compared to its competitors; however, at the moment they don’t offer any fiat currency support that CoinSpot offers (that includes NZD).

UK Best Cryptocurrency Exchange

There are few exchanges available for UK-based customers and most of them offer lower fees compared to their counterparts in the US. However, they have a very low number of cryptocurrencies that can be traded on each platform (while CoinSpot offers over 100 different coins).

The best UK cryptocurrency exchange is eToro – it has one of the lowest costs associated with trades because there are no commission fees charged when trading with fiat currency. It also allows users to trade directly using GBP or EUR which makes this option great if you’re based in Europe. Although it doesn’t support local currencies worldwide as CoinSpot does, the verification process takes only up to 24 hours and you get access to all pairs offered by this platform.

Another good option would be Coinbase – it has limited options for trading (very few cryptocurrencies available), but they allow users to trade with fiat currency which makes this option perfect if you’re looking for a place that will be suitable for both newcomers and experienced traders. It also offers an incredibly easy verification process where customers can get verified in as little as 15 minutes!

The last platform on the list is Coinmama – while it allows users to make instant purchases using credit/debit cards, there are high fees associated with trades due to its low liquidity when compared to other exchanges. There is a very low number of currencies supported by Coinmama at the moment (less than ten) so it’s not really recommended unless you’re familiarized with crypto trading.

Conclusion

There are a variety of cryptocurrency exchanges available for different customers with unique levels of experience and looking to trade different currencies. There is no ‘best crypto exchange’ that can be suggested because it all depends on your location, the amount you’re willing to invest, and other factors listed above. Crypto trading might seem complicated at first but there are plenty of helpful resources online that will make this process easier – as long as you do some research beforehand and find out about fees associated with trades compared to its competitors, everything else should fall into place!

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