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Cryptocurrency Exchanges, Which One Should I Choose?


By definition of centralized, it is to concentrate by placing power and authority in a center or central organization.

Creating an account will require signing up with your personal email. But, in order to fully utilize the features of the exchanges, and most importantly the withdrawal limits, you have to pass KYC. Know your customer, alternatively known as know your client or simply KYC, is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship.

Since we are dealing with fiat, which is basically money, you need to submit yourself to these screenings to prove your identity. This is due to regulations set in place by the government over these exchanges. And also to prevent money laundering and other nasty stuff.

After going through the initial steps and your identity has been completely verified, you can then proceed in buying some crypto. Using that old credit card, you will have options to buy Bitcoin or any other type of currency that the exchange has to offer. Usually, the interface if pretty self explanatory, choose the crypto that you want and an equivalent price in fiat will be specified. The computation includes the current conversion rate of the crypto, plus the fees in completing the transaction.

The most popular places to buy cryptocurrency:

- Binance

- Coinbase

- Moonpay

- etc

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