How can I buy cryptos?

Cryptocurrencies can be purchased on online exchange platforms using fiat money (euros, dollars, etc.) or other cryptocurrencies.

There are two types of exchange platforms:

• Centralized exchange: A centralized exchange is a platform managed by a central entity that acts as an intermediary to facilitate transactions. On these platforms, users deposit their funds into crypto accounts hosted by the exchange. Transactions are executed and recorded in a centralized database.

It is also necessary to verify your identity before purchasing.

• Decentralized Exchange: A decentralized exchange (DEX) operates without a central intermediary. It is based on smart contracts and uses blockchain technology to enable users to exchange assets directly with each other. Users retain control of their private keys and funds, enhancing security and confidentiality. DEX transactions are recorded on the blockchain, offering enhanced transparency.

There’s no need to check your identity before you buy.

To use a DEX, however, you need a hotwallet. Go to the security tab to find out how.

The main difference lies in the degree of centralization: centralized exchanges depend on a central authority, while decentralized exchanges are designed to operate autonomously, without a central point of control.