🧐 Wait, a what now?

A crypto exchange is just a digital place where you buy, sell, or trade cryptocurrencies.
Think of it like a currency exchange at the airport… except it’s on your phone, way faster, and the person next to you isn’t loudly counting coins.

📦 What Can You Do on an Exchange?

• Buy crypto
• Sell crypto
• Trade one coin for another
• Check prices
• Track your balance
• Panic refresh the chart every 4 minutes (just kidding… kind of)

Some even let you earn rewards, stake coins, or borrow and lend crypto — but don’t worry about that yet, we'll get to it all.

🏢 Types of Exchanges

1. Centralized Exchanges (CEX)

Big names: Coinbase, Kraken, Crypto.com
They’re like banks for crypto — run by companies, user-friendly, and great for beginners.

✔️ Easy to use
✔️ Help available
✔️ Regulated in many places
❗You don’t fully control your crypto there

“Not your keys, not your crypto” — we explain that here.

2. Decentralized Exchanges (DEX)

Big names: Uniswap, PancakeSwap, SushiSwap
These are wild west-style. You connect your own wallet, and trade directly with other people — no middleman.

✔️ You’re in full control
✔️ No ID checks
❗Way more confusing if you’re new
❗Higher chance of mistakes

🛡️ What’s Safer?

CEX = More hand-holding, but less control.
DEX = More freedom, but you really need to know what you’re doing.

For most beginners or casual crypto holders, a centralized exchange is the best place to start.

🪪 Will They Ask for My ID?

Yes — at most centralized exchanges. This is called KYC (Know Your Customer), and it’s required by law.

It's a bit annoying, yes. But it helps stop fraud, money laundering, and bots. Also — it proves you're not a cat using a VPN to buy Ethereum.

🧾 Fees! Wait, There Are Fees?

Yep, just like when you use a debit card abroad. You might pay:

Trading fees (tiny percentage)

Withdrawal fees (to send crypto to a wallet)

Payment method fees (card is usually more expensive than bank transfer)

We have covered how to store and buy your crypto, now let's look a bit further into first time buyer tips!