📚 Things You Should Know About Cryptocurrencies – Part 2

Do you want to start in crypto and don't know where to begin? This will save you from scares and missteps.

🛒 How to Buy Cryptocurrencies?

The most common way is through exchanges, which are platforms to buy, sell or trade crypto. Some function like digital banks (e.g., Binance), others as P2P markets.

💰 What Do You Need to Get Started?

â–ș Create an account on a reliable exchange

â–ș Verify your identity (yes, even in crypto there is KYC)

â–ș Deposit funds (can be with card, transfer, or crypto)

â–ș Buy the currency you want and you're done!

🔐 Where Are Cryptocurrencies Stored?

In wallets. There are two main types:

🔾 Custodial: the exchange holds your cryptos for you. Convenient, but you depend on them.

🔾 Non-custodial: You have total control, with private keys. Safer, but more responsibility.

🏩 Centralized vs Decentralized Exchanges

â–ș Centralized (CEX): like Binance, Kraken, or Coinbase. Easy to use, with support and extra services.

â–ș Decentralized (DEX): like Uniswap or PancakeSwap. Do not require registration, but you need to know what you're doing.

⚠ In both cases, research before putting in money. Crypto does not forgive ignorance.

📌 Keywords You Should Know:

🔾 Wallet: Digital wallet to store, send, and receive cryptos. Can be an app, hardware, or even paper.

🔾 Custody: Who has real control over your crypto? If it’s not your keys, it’s not your coins.

🔾 Exchange: Platform to buy/sell crypto. There are centralized (CEX) and decentralized (DEX).

🔾 KYC: “Know Your Customer”. Identity verification process to comply with regulations.

🔾 Private Key: Like the key to a safe. If you lose it, you lose your funds. It cannot be recovered.

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