Learning and understanding everything about cryptocurrencies is complicated and it takes time. It is also not obvious either how or where to buy your cryptocurrency the first time. Many exchanges/trading places do not give customers the direct option of depositing money via bank transfer or VISA card. They are mainly due to the fact that they do not want to undergo the same regulatory requirements as the traditional banks.
The smaller trading places therefore require that you already have a cryptocurrency in a wallet or on another trading place that you transfer to the new trading place to trade there. It is common to transfer e.g. Bitcoin, Ethereum or stablecoins (USDT/USDC) that you start trading with.
If you are a beginner and want to choose an exchange for the first time, we recommend starting with one of the two largest exchanges Binance or Coinbase. They both provide the possibility to use bank transfers to deposit money or buy Cryptocurrency directly with a VISA card. Both Binance and Coinbase are also considered to have very good security and use two-factor authentication.
Binance and Coinbase also have a large range of cryptocurrencies and services linked to trading, e.g. trading with leverage. If you later want to try other exchanges, the step is not that big. The way you trade looks the same on all centralized exchanges and it is mainly a question of which values the different exchanges offer that differentiates them.
If you are a professional trader and make many transactions per day and are very careful to get exactly the “right” price, choosing the right exchange can be of great importance in the long run. If you e.g. is a major player that trades Bitcoin for large volumes, Coinbase and Binance have great advantages due to their good liquidity.
