As crypto trading is gaining popularity, people look for advanced services that offer convenient tools for exchanging digital assets. There are many crypto platforms on the Internet. So it is easy to get lost among them. Novice users face difficulties when picking one to work with. There are many demands for a perfect crypto exchange:
- safety and reliability;
- convenient and transparent interface;
- versatile cryptocurrency converter;
- full spectrum of trading tools;
- opportunity to take leverage of big size;
- low fees;
- fast transactions;
- unlimited withdrawals;
- fast and efficient customer support;
- the possibility to convert cryptocurrencies with fiat.
The last paragraph is especially interesting for those who want to buy crypto for the first time in their lives. Let’s delve further into this issue.
What Crypto Exchange Allows Depositing Fiat?
There are many services allowing crypto trading; however, not all of them offer the option to trade with fiat currencies. Why? The core is in the type of platform. A service that would allow one to attach a bank card and move fiat money to a crypto exchange account must identify and verify its clients carefully. That is what centralized crypto platforms do. These are official services with all the necessary stages of registration and verification for clients. For example, WhiteBIT, Binance, etc. These large and well-known platforms carry out thorough user checks to make sure that none of them imposes threats to other users.
KYC verification allows checking if a user was involved in any illegal activity in the past. Centralized exchanges have a team of managers that monitor transactions and block any suspicious activity on the platform with the goal of protecting it against fraudulent schemes.
Verification of users implies checking their passports and registration. Once KYC is done, a client can use one’s bank card and transfer as much money as one wants to his exchange account. In the same way, one may convert cryptocurrencies to fiat money and move them to a bank card.
Using a centralized crypto platform is the safest way to convert fiat to crypto and vice versa.
