Crypto Exchanges

Where and how to buy your first crypto, including centralized vs decentralized exchanges

Centralized Exchanges (CEX)

Centralized Exchanges (CEX) are platforms managed by a company, similar to traditional stock exchanges.

🏢 Popular CEXs: • Binance: the world's largest by volume • Coinbase: regulated in the US, easy to use • Kraken: valued for security • Bybit: popular among traders • OKX: wide selection of cryptocurrencies

📝 How to get started on a CEX: 1. Register an account 2. Complete KYC (Know Your Customer) verification 3. Deposit funds (bank transfer, card) 4. Buy cryptocurrency 5. Optional: transfer to your own wallet

Decentralized Exchanges (DEX)

🔀 DEX (Decentralized Exchanges) are exchanges that operate without intermediaries, directly on the blockchain.

📊 Popular DEXs: • Uniswap: leader on Ethereum (AMM model) • PancakeSwap: on Binance Smart Chain • Jupiter: on Solana • dYdX: derivatives on DEX

✅ Advantages of DEXs: • No need to create an account or KYC • You control your funds • Tokens listed earlier than on CEXs

❌ Disadvantages of DEXs: • Higher fees (gas fees) • No customer support • Easier to encounter scams (fake tokens)

How to choose a secure exchange?

🛡️ Exchange Security Checklist: ✅ Regulations: czy giełda posiada licencje? ✅ Proof of Reserves: czy publikuje dowód rezerw? ✅ History: how long has it been operating? Has it been hacked? ✅ 2FA: czy wymaga uwierzytelniania dwuskładnikowego? ✅ Cold storage: czy przechowuje większość środków offline?

⚠️ Remember: "Not your keys, not your coins": funds on an exchange are not 100% yours!