To start trading cryptocurrencies you only need one thing: to acquire them. While there are several ways, such as mining them, the easiest way is to buy them directly using conventional money (dollars, euros, pesos, etc…). If you want to know where you can buy cryptocurrencies we tell you in today’s video:
In order to buy cryptocurrencies it is necessary to know the “stores” where they can be obtained, called exchanges. There are hundreds of them, each one with its own particularities. In TreceBits we have told you about several of them, such as the Spanish exchange Bit2Me, the derivatives platform Bybit or PrimeXBT among many others.
Exchanges can be divided into two groups: centralized and decentralized.. Centralized exchanges are traditional platforms where cryptocurrencies can be purchased using fiat money. They are like an online store where registered users can purchase the available cryptocurrencies by paying with credit card or with other cryptocurrencies. Some of the most famous centralized exchanges are Coinbase, Binance or Kraken.
There are many platforms, known as exchanges, where to buy cryptocurrencies using fiat money.
Decentralized ones, on the other hand, do not accept fiat money and do not require registration. They work by linking a digital wallet and using the funds in it to exchange one cryptocurrency for another. Although they have a much smaller number of users than centralized exchanges, some of the most famous decentralized exchanges are Uniswap or 1inch.
Choosing an exchange should not be something that is done lightly. The difference in crypto offerings, the percentage of trading commissions and the number of options available (trading functions, staking, parachains…) can differ greatly from one to another. Some exchanges have even prevented users from withdrawing their money temporarily, which clearly demonstrates the importance of choosing the best place to buy cryptocurrencies.