If you are thinking about getting into crypto trading but do not know where to begin, this article will be helpful. There are hundreds of crypto assets in the market, and the best choice would be to invest in top-ranked digital assets such as Bitcoin, Solana, Polkadot, Ripple, etc. They are incredibly valuable from a technological point of view, which is why they became so popular and made it to the best cryptos.
Once you pick a project you will invest in, you want to find a place to buy cryptocurrencies. A cryptocurrency exchange is a service where you buy and sell cryptocurrency to generate income from price differences. Let’s see how to choose a good platform.
Types of exchanges
The main classification of crypto platforms:
- CEX (centralized exchanges with a high level of transaction protection, user security, and a complete set of trading tools).
- DEX (decentralized exchange with no safety guarantees, but suitable for trading small amounts).
If you are a beginner trader, it is better to use CEX. Here are the reasons why:
- CEX are reliable and protected;
- they offer a full set of tools for crypto trading;
- provide the options to trade with fiat;
- perform high-quality customer support;
- CEX interface is user-friendly;
- a wide range of traded pairs.
How to Make an Account on CEX?
Let’s take the WhiteBIT exchange as an example. First, enter the exchange’s website and register an account. The platform will ask you to pass the KYC verification, providing your documents to the exchange’s office. It usually takes a couple of days to verify a client’s account. Then you receive a notification of your account verification and can begin your work. If you want to buy coins with a bank card, you should attach it to your account and move funds from the card to your account in a matter of seconds. Pay attention to bank fees. To practice how to buy and sell cryptocurrency, you can use a demo account on WhiteBIT.
