Buying Crypto with Fiat on CEXs
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In order to take the plunge into the world of Crypto & DeFi, you first need to get your hands on crypto. For most people that means acquiring crypto via a "fiat on ramp." This simply means you use your bank account, debit card, etc. to purchase various crypto assets. Without funds in your wallet, the only thing you can really do is receive crypto.
To get into the decentralized finance universe, you need to first go through a centralized exchange.
Using centralized exchanges, may be converted to cryptocurrency and back again (or vice versa). Trades between two different cryptocurrencies can also be made using them. Despite the fact that this appears to cover all of the possible transaction kinds, there is still a demand for a different sort of bitcoin exchange as well.
Decentralized Exchanges are alternatives to centralized exchanges, which eliminate the middleman and provide a "trustless" atmosphere. Peer-to-peer exchanges are what they're called. Smart contracts and atomic swaps are the only mechanisms used to complete transactions; no escrow service is required.
An intermediary figure is essential to both central and decentralized trading systems. Compared to centralized exchanges, decentralized exchanges are less common and less popular. It's possible that in the future, decentralized exchanges will outperform centralized ones because of the increasing number of them.
There are a handful of different centralized exchanges you can use to buy cryptocurrency.
Here is a list of reputable and trusted exchanges:
