If I want to buy crypto, then I believe I have to go to a broker or an exchange (assuming I don't know someone who wants to sell me some). So I've got to pay them. Are they regulated enough that I can be confident that they won't just run off with my money once I've paid them? Can I pay be credit card? Then, once I have bought from the broker or exchange, do they transfer the crypto to a wallet that I control? Or do they keep the crypto in their own wallet as a custodian? If so, again, how can I trust them?
Also, is there an advantage to buying from a broker over buying on an exchange?
Thanks
Buying crypto from any broker you don't personally know is a risk too big to take when buy cryptocurrency. The best way to buy cryptocurrency is to buy on exchange and the safest place to keep your cryptocurrencies is your personal wallet which you're sure its security has not been compromised.
Certainly not all brokers are same. If a broker was recommended for you by a reputable member then I would say there should be an iota of truce in the system because you know the people involved based on recommendations but as you have said, nobody is an island that would get dumb to the point of taking such risk going to a broker you met online or otherwise.
Possibly, if you can meet with them one on one them that would be good but you can only do that if you want to undermine your safety but you should always have it in the back of your mind that safety comes first as you do not know who you are going to deal with as you have not met with them before.
For storage or safety of your funds and assets, your self custodial wallet should be your end point to our own safety.
