When trading Bitcoin or any other cryptocurrency one has to go to exchange first. The first step is to do a sign-up and verification process and after that deposit some crypto or fiat. This is quite normal for crypto traders but it also comes with high risk. In the past, a lot of starting crypto exchanges suffered DDOS attacks or were even hacked and lost funds. A good example is the failure of Mt. Gox in the early days were about 850 000 bitcoins were lost. So are there ways to buy crypto without the need to trust a centralized exchange?
Trusting a Cryptocurrency Exchange
This is just one example of the disasters happening on starting crypto exchanges. Also, the idea of Bitcoin is to be a decentralized currency or value of exchange and to store your crypto on a centralized exchange makes it quite ironic. But if you still want to trade, how can you be profitable without trusting an exchange? In this article a few ways to buy crypto this way. Companies covered in this article will be:
- Coinswitch
- Coinmama
- Wirex
- Changelly
- Shapeshift
Read more about this subject in this article: Best Ways To Buy Crypto Without Trusting an Exchange