Introduction

Step 1 to buy crypto is having a so called on-ramp. This means a place where you can use your own currency (like Dollar or Euro) to buy cryptos. This is done with a centralized company, sometimes specializing in being an on-ramp and basic CEX, offering the largest coins, like Bitcoin and Ethereum. Once you have done this, you can transfer your funds to a larger CEX or DEX, to buy more cryptos.

Alternatively some larger CEXes offer this service as well. I can’t go in too depth about what on-ramp to use, as this can change quite often and varies locally, each country or region could have its own companies offering this.
Therefore I will only show the largest companies offering this, most notably large CEXes and Metamask (a wallet).

Different types of exchanges

Note: there are 2 types of crypto exchanges, those which actually trade the crypto or those that buy the value of crypto. Meaning 1 actually has the crypto and the other one just trades in the value, you don’t actually have the crypto. The latter means it trades in futures.
Actual crypto exchanges will generally always hold the crypto, companies which used to trade in stocks and added crypto to their services may trade in futures.
The downside being, you can’t actually withdraw the crypto to your own wallet or a different exchange.

Where to buy?

in order to buy crypto with your local payment method, the most simple method will probably be to simply Google “buy crypto” (in your native language). Important! look for reviews and perhaps forums. There are a lot of scammers, so be sure the company is legit and trusted. There will probably only be a few which are often used in your country, and should be safe.

Here are several things you would have to look for

  • Supported currencies: Make sure that the on-ramp supports the cryptocurrencies and fiat currencies that you want to buy and sell.
  • Fees: On-ramps typically charge fees for their services. Compare the fees of different on-ramps to find the best deal.
  • Payment methods: Some on-ramps only support a limited number of payment methods, such as credit cards and debit cards. Others support a wider range of payment methods.
  • Security: Make sure that the on-ramp you choose is secure and has a good reputation.

The other method is to use one of the larges CEX’es, like Binance. They may not offer your local payment method. However you can buy with a creditcard. And you instantly have your funds on a large exchange.

Alternatively you can use Metmask. Which is a wallet where you have direct control over your crypto. With an exchange, the exchange holds it. However Metamask may be a little bit more difficult to understand when you are new. We will write a seperate post about how to do it with Metamask.

3 of the largest exchanges where this is possible are:

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