Popular Ways to Buy Crypto?
You can buy cryptocurrencies in several ways. Centralized exchanges let you use fiat money and are easy to use, offering security and customer support. Decentralized exchanges give instant access to new tokens but need technical skills and carry higher risk. P2P platforms and crypto ATMs are for special deals but can be slower and riskier.
They both carry risk; both CEX and DEX are not completely risk-free. In fact, CEX, to me, has a higher risk than DEX unless you don't know how to use it. Centralised exchanges can freeze your fund and limit your access to it.
CEX vs DEX?
Centralized exchanges hold your funds and check new coins, so scams are less likely. They also let you use fiat money and offer customer support. Decentralized exchanges let anyone list a coin, so the risk of scams is higher. They don’t support fiat and require you to manage your own wallet.
Rug pulls don't just happen on DEX exchanges; they can happen anywhere. It's just that it's very easy to list a token on DEX exchanges, but everyone should do their research, not just invest because the token is listed on a particular exchange.
Choosing the Right Exchange?
For beginners, a centralized exchange is safest. Look for one with a wide range of coins, strong listing checks, and proof of reserves. Decentralized exchanges are good for advanced users who want early access to new tokens, but you must research each coin carefully.
For beginners I don't expect them to invest in new coins; they can start by learning first, then maybe start with a reliable coin like Bitcoin or any of the top 10 tokens.
Final Advice
Pick a platform that balances coin variety, safety, and support. Centralized exchanges offer an easy start, while decentralized platforms give freedom at higher risk. Do your own research before buying any cryptocurrency.
We should not trust any exchange wholeheartedly; anything centralised has its own disadvantage.
