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Crypto is one of the biggest buzzwords among traders and tech enthusiasts in the world right now, which prompts new, curious investors to flock to the sector every day. However, when looking for the best crypto exchanges for beginners, we don’t really find one good, comprehensive answer.
For a crypto exchange to be called the simplest and best crypto exchange in 2023, it needs features beginners can actually wrap their heads around without requiring to understand crypto-specific jargon. This is where Millionero can be of help.
Millionero is a relatively new crypto exchange operating in parts of Europe, Asia, and Middle-East so far that allows you simple spot and perpetual trading opportunities. The exchange proudly calls itself the simplest crypto exchange you can come across, and has plans to go global soon.
Our one word answer to your question ‘which is the simplest and best crypto exchange 2023?’ would be Millionero. Why is that? Of course, we find out the answer in this post.
Which Features Do Beginners Need to Identify the Simplest and Best Crypto Exchange 2023?
With Millionero as an example, let us demonstrate what features you as a beginner need to look for in a platform you’d deem the simplest and best crypto exchange for you:
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Easy User Interface: First up, there’s a need for a simplified interface that is easy on the eyes. Millionero scores here: they have given you an option to choose between light and dark modes, and picked a decluttered interface that only lists the essentials for you, without bombarding you with analytics and information you won’t know to make head or tail of.
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Quick Sign-Up: While we’re on the topic of simplification, who doesn’t want a quick registration process where you don’t have to enter a ton of information in one go? Certainly helps the procrastinators among us to convince themselves to get a job done. Millionero lets you register on their platform with simply your email id and a strong password, and just like that you’re a part of the Millionero community.
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Security: This is another important aspect the best crypto exchange should have, and simplification should not mean a compromise on that crucial aspect. Keeping this in mind, Millionero introduces a mandatory KYC- you can register on the platform, and then you need to complete the KYC to actually start with the crypto trading part. This way the system ensures that there are no bad actors onboarding the platform, and it also enables two-factor authentication for users for the maximized safety of their funds.
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Referral Program: Beginners would not be pro traders right from the get go, we all know that. That is why the best crypto exchanges would give you alternative ways to earn in the crypto space aside from crypto trading. The Millionero referring program is one such avenue, through which the exchange shares up to 55% of the trading fees they earn from your referral with you!
When you sign up on Millionero, you get your own referral code to share with your pro-trader friends! People who sign up this code directly are placed on your tier 1 in the Millionero referral program. Every consequent referral from there on is placed at your tiers 2 to 5, and so the entire program has 5 tiers.
There’s no upper limit to how many referrals you can invite on Millionero, and so this can be a legit source of passive income for you as you learn the crypto trading bit.
Your referrals benefit from being invited by you too: they get an additional 10% discount on Millionero spot and perpetual trading fees when they use your referral code.
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Copy Trading: Speaking of learning the ropes of crypto trading, Millionero can even help you out there! The exchange offers a copy trading feature through which you can follow the top traders on the platform, and have your own account automatically copy the trades these traders of your choice make. So basically, you can sit back and relax while your account self-executes crypto trading in spot and perpetual markets, and earn profits.
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Easy Deposits and Withdrawals: Another very important aspect your choice of the best crypto exchange should have: easy deposits, and multiple withdrawal options so you can withdraw your funds in both crypto and fiat formats. Millionero gives you options like Coinify, simplex, Transak, and Banxa for a bank transfer of your fiat money to buy crypto and fund your Millionero wallet, and you even have Simplex to buy crypto with debit or credit cards .
For withdrawals, there are Coinify and Banxa to withdraw your funds in Bitcoin, Transak to withdraw your funds in BTC, ETH, and USDT, and even the Crypto Network to withdraw your crypto as is.
And there were all the features we think are important for a beginner to pick the simplest and best crypto exchange. Needless to say, we think Millionero ticks all the right boxes.
For perpetual traders in particular, Millionero has a feature called the Perpetual Max that allows you to borrow up to 100x of the initial amount of your deposit for crypto trading! The exchange even sets your leverage at a default of 3x so you can avoid extreme risks as a beginner, and any positions with 80x leverage or above can choose the ‘hedge’ options that’d open a reverse position for them to avoid liquidation in case the market moves against them!
Sign up on Millionero to start with crypto trading today! You can also follow them on Twitter, Instagram, Facebook, and LinkedIn for latest updates!
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.