The cryptocurrency market offers several ways of buying and selling cryptocurrency:
- simple exchange
- centralized exchange
- decentralized platform
A simple exchange is not the easiest way to buy cryptocurrency because such sites have lower credibility, lower trade volume, and fewer digital assets available. So only experienced traders can figure out those shortcomings and define a trustworthy simple change.
The next option is a centralized exchange. That’s definitely a better option to buy a cryptocurrency. They are large and official platforms, complying with AML (anti-money laundering) and KYC (know your customer) standards, operating by analogy with traditional financial establishments. Central governance keeps track of illegal and suspicious activities and blocks them, preventing hacker attacks and fraudsters schemes. It is the main benefit of using centralized exchanges.
Examples of such platforms: WhiteBIT, Binance, Coinbase, OKEx, etc. You can find them all on Coinmarketcap, with detailed information and trade volume.
Traders usually have accounts on both centralized and decentralized sites. Decentralized exchanges are also large platforms but without safety guarantees for their users. They act as intermediaries between users, who exchange their coins, moving them between their wallets.
In this case, an exchange offers the best rate in the market, users pay fees, and a deal proceeds. As a rule, traders begin with centralized platforms, learn, practice, and then register accounts on decentralized exchanges. Examples: SushiSwap, PancakeSwap, UniSwap.
The easiest way to buy cryptocurrency
A centralized platform is the best way to buy crypto. Let’s take WhiteBIT as an example. The reviews on this platform say it is fairly beginner-friendly, with numerous trading tools and a convenient interface. Clients can configure the WhiteBIT app according to their needs.
Important to note that the exchange offers a demo account. This option allows beginner traders to practice trading without the risk of losing money.
Also, the platform has an educational section and WhiteBIT blog where users may find a lot of exciting information on new and up-and-coming projects in the crypto industry, guides on how to start trading, how to pass KYC, and how to buy digital coins with fiat, etc.
WhiteBIT offers the easiest way to buy crypto – just register, pass KYC and buy coins directly with your bank card. Using Monobank implies zero fees.