If you use an exchange that does not offer a fiat link, you will first have to buy Bitcoin or another cryptocoin from a buying / selling point (broker). As soon as a broker has received your payment, you will be asked for a wallet address to which the purchased coins must be sent. As soon as the coins have been received in your exchange wallet you can start trading.
But what is the best exchange?
This is the key question of every crypto investor. Unfortunately, it is not that simple to say which exchange is the best. There are several factors that are important to consider in order to find out which exchange is most in line with your own needs.
What things should I consider with exchanges?
How secure are both the website and the server? Well-secured exchanges are of course better. High liquidity. Transaction fee structure. Transparency regarding the data of transactions, prices and volumes. How many and which cryptocurrency pairs are there and which ones? Ability to deposit / withdraw Euros, Dollars etc? Payment options such as iDeal, Paypal, Credit card etc. Are the users satisfied? Is the exchange "beginner friendly"? How is Customer Support?
Are Exchanges Safe?
Most exchanges do everything they can to be as safe as possible. However, there are many stories about exchanges that have been hacked in the past. As Bitcoin and other cryptocurrencies become more widely known, which is of course a welcome development, they also attract attention from the wrong angle; that of hackers. Security is and will therefore remain a controversial topic within the crypto world and therefore also with regard to exchanges. If you want more security in terms of security, it is advisable to purchase a hardware wallet. The disadvantage of this is that your crypto assets cannot be traded directly on an exchange from a hardware wallet. But still, when it comes to safety, “better safe than sorry” applies.