New users often struggle with figuring out how to buy their first crypto, but it isn’t as difficult as people make it seem. There are a handful of world-class crypto exchanges to pick from.Compare Exchanges
Crypto exchanges allow you to buy crypto at the best market rate using conventional payment methods like credit cards or bank transfer. They are gateways to connect the old financial system with the new world of cryptocurrencies.Compare Crypto exchanges
Peer-to-peer exchanges allow you to buy cryptocurrencies from private sellers. They are similar to marketplaces like eBay in the traditional world where sellers can set whatever price and payment method they want.Compare peer-to-peer exchanges
Decentralized exchanges allow you to trade directly on the Ethereum Blockchain from your Ethereum wallet retaining 100% control over your funds. Swaps are automated by so-called “smart contracts” without any intermediary involved.
Get any of the Ethereum wallets that we are suggesting on this site. Transfer ether (ETH) from an exchange to that wallet to pay for transaction fees.
Ease of use
If you’re a crypto-trading beginner, look for a platform with a simple and straightforward interface. A good exchange starts simple, and hides complex features for advanced traders in the settings.
Make sure your exchange has deposit and withdrawal options that work for you, and remember to check the fees associated with different methods. Bank deposits are always the most inexpensive method, PayPal and credit cards are faster but more expensive.
The level of liquidity on an exchange affects the ease and speed with which you can complete trades. If there's a high level of liquidity – in other words, if the exchange has a high trading volume – then trades should be completed quickly and easily.
From deposit through to trading and then withdrawing funds, how much will it cost you to buy and sell crypto on each platform from start to finish? Good exchanges are transparent about their fees.
Crypto exchanges are marketplaces that connect buyers and sellers. They provide an easy option for new users to buy crypto with conventional payment methods like credit card or bank transfer.
Cryptocurrency exchanges hold user funds in two types of wallets: hot wallets and cold wallets. Hot wallets are connected to the internet so they are more exposed to hackers who can break into the servers of that exchange. That’s why most exchanges hold the majority of user funds in cold wallets, which are not connected to the internet. Often the keys to the cold wallets are split between multiple senior staff members of the exchange who all have to approve a transaction before funds can leave the exchange.
Yes, after you’ve bought crypto you can also leave it on the exchange for them to keep it under custody. This means you’re not in full control though. You can also transfer the crypto out of the exchange to any other wallet.
In most Western countries cryptocurrency exchanges need some sort of licenses to operate. In the US it is common for exchanges to register with FINCEN and apply for a money transmitter license while in Europe, exchanges frequently need a brokerage license. This is why users need to identify themselves upon registering with an exchange. Furthermore, they often need to have a crypto custody license.
We are a multi-faceted team of crypto enthusiasts based in Berlin.
© 2021 cryptotesters UG
Crypto wallet guide
Crypto savings accounts
Defi lending rates
Exclusive crypto deals