Here we consider centralised exchanges. A centralised crypto exchange is your gateway into the world of cryptos — it allows you to exchange fiat currency (GBP, EUR, USD) for cryptos, and to switch between cryptos. In this way it acts much like a stock exchange, except there is no additional broker charging extra fees.
The one thing exchanges are definitely not is a particularly secure place to store your cryptos. If you store your cryptos on an exchange, you do not own the private keys. If you do not own the private keys, you do not legitimately own the cryptos. Transfer in your cash, make your purchase, and move the cryptos to a wallet for which you are the sole owner of the private key — preferably a Ledger Nano X.
Our overwhelming favourite exchange is Coinbase — a publicly listed company in the US, audited and regulated. Our second favourite is Binance, whose coverage of cryptos is so extensive it cannot be avoided.
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