How to Buy Crypto Safely on Exchanges (Beginner Guide) | BPAYNEWS Learn
Buying your first crypto can be intimidating. This guide will help you choose a reliable exchange, complete verification, fund your account, and place your first order—safely.
Choose a Reliable Exchange
- Reputation & licensing: Prefer regulated platforms with transparent teams.
- Security: Cold storage, proof-of-reserves, 2FA, withdrawal allowlists.
- Liquidity & fees: Check spreads, maker/taker fees, deposit/withdrawal costs.
Step-by-Step: Your First Purchase
- Create an account: Use a unique email and strong password.
- Complete KYC: Verify identity to raise limits and secure the account.
- Enable 2FA: Use an authenticator app (not only SMS).
- Deposit funds: Bank transfer, card, or stablecoin deposit.
- Place an order: Start with a market order for simplicity; learn limit orders next.
- Withdraw to your wallet: For security, self-custody long-term holdings.
Safety Checklist
- Beware of fake support agents and unsolicited DMs.
- Double-check the network and address before withdrawals.
- Use small test withdrawals.
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Written by BPAYNEWS Learn | Category: Learn / How-To
