As the cryptocurrency industry evolves and brings many new projects and innovations to all aspects of our lives, many people are considering buying crypto assets and getting into crypto trading. The safest place to buy crypto is a centralized crypto exchange (CEX).
CEX operates like a bank, with a number of professionals working hard to provide customers with security and a high level of service. The centralized platform is an official establishment. When you place your money with CEX, you share responsibility for its security with the exchange. The platform will help you regain access if you lose your account password.
Experienced traders and investors also use decentralized exchanges, which, unlike CEX, do not hold users’ money and are not responsible for its security. Instead, they act as intermediaries between users for quick transactions. Decentralized services are typically used for day-to-day trading, while CEXs are more suitable for long-term investments.
How to Ensure Cryptocurrency Trading Safety?
The safety of your assets depends directly on the platform you use. Here are some trusted cryptocurrency exchanges:
- WhiteBIT
- Coinbase
- Binance
- Huobi
- OKEx.
All of these platforms allow users to buy and sell cryptocurrency and offer a wide range of trading pairs and high liquidity. Checking their ratings on Coinmarketcap shows that they all have a significant daily trading volume, which means their clients trust them.
These centralized platforms also offer a range of trading tools to help you trade quickly and profitably. For example, on CEX, you can take advantage of trading with leverage, p2p, and spot, adding bots, stake tokens, and others. All these features are available in CEX, along with advanced protection mechanisms. Users can trade and make money without worrying about security. That’s why we call these exchanges the safest place to buy cryptocurrency.
A key feature is KYC. It stands for “know your customer”. We have already mentioned that centralized exchanges operate in a similar way to traditional banks. This means that to access all features and revenue opportunities, users must undergo a registration and verification process. To pass KYC certification, users must provide documents to verify if there has been any illegal activity in the past. In this way, the platform increases the security of customers and their investments.
