As of 2023, there exist 584 centralized exchanges, playing a crucial role in the fiat/Bitcoin economy as on- and off-ramps for buying and selling Bitcoin. However, it is important to keep in mind that these exchanges should not be considered friends. They simply provide a platform to convert fiat currency into Bitcoin and facilitate its trading.
The main problem with most exchanges is that they try to tempt you into buying “crypto” besides bitcoin. This is how they make most of their money. In addition, they also try to lure you into “trading bitcoin”. None of these two is very beneficial for your mental health or financial stability.
Exchanges are like a public bathroom, go in, do your business and get out, don’t start living in there and storing your wealth (source).
This is why we have selected the exchanges for you that are “Bitcoin-Only”. These exchanges do not attempt to sell you other “crypto”, neither do they push you into trading. Some of these even allow you to directly deposit your bitcoin into your hardware or software bitcoin wallet.
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