- where to buy -
exchanges / decentralized exchanges
Check Out Some Quick Facts Below
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Centralized Crypto Exchanges
is where you buy and sell crypto for cash
This is where you buy and sell crypto from a centralized authority - like Coinbase or Crypto.com.
You can use centralized exchanges to trade fiat currency (i.e. dollars) for cryptocurrency, and vise versa.
This is where beginners should start.
Decentralized Exchanges or Dex's
is where you trade crypto for crypto
In a dex, the centralized authority (like Coinbase or Crypto.com) is replaced with code - called a smart contract - that automates your trade. With a dex, you trade crypto for crypto but both have to be operable on the same blockchain (i.e. you can't swap Bitcoin for Ethereum because they're two different blockchains.)
When you sign up for a centralized exchange
you will need to provide personal info
Centralized exchanges are financial companies that need to abide by banking laws. So, when you sign up for one, you'll need to meet their Know Your Customer (KYC) standards, which will require you to submit your social security number, driver's license, etc. This is to ensure that you're not a criminal and is completely safe and universal across all exchanges.
Centralized Exchange: Coinbase
the largest crypto exchange in the US
Coinbase is super user-friendly and supports trading of over 100 cryptocurrencies.
It's a great place for beginners to start and you can get $10 in Bitcoin when you buy/sell $100 in crypto if you use this link.
Centralized Exchange: Crypto.com
gamified mobile app to buy / sell crypto
Crypto.com's mobile app is easy to use and allows the purchase of crypto with credit cards, which is somewhat unique. Beyond that, they offer the ability to earn APY of up to 12% on a large number of leading cryptos.
You can get $25 in free crypto just for signing up when you use this link.
If asked: copy/paste this referral code: ds7agg9yeg
Decentralized Exchange differences
there are some pros and cons
Since dex's don't deal in government issued currency, there's no KYC requirements - anyone can use them.
But, since trading is automated and has no centralized authority, there's no "customer support" or to help if you fall for a scam.
We don't recommend this route for beginners but can certainly get you up to speed!
Decentralized Exchange: Uniswap
for trading Ethereum-based cryptos
Most smaller or yet-to-be established cryptos aren't available on centralized exchanges and need to be bought on dex's. If you want to trade for Ethereum-based tokens, you'll want to use Uniswap.
Decentralized Exchange: Pancake swap
for trading Binance Smart Chain Cryptos
Ethereum is the most widely used blockchain, but it's not the only game in town. If you want to use a dex to trade for BSC-based cryptos, you'll want to use Pancake swap.
this is just the tip of the iceberg
each exchange has a ton of features
And there's just not enough space or time to go over it all here. If you want to learn more about crypto exchanges, get in touch - we're here to help!