The main features of crypto exchange license
The simplest method is using P2P exchangers. There are advertisements for buying and selling cryptocurrencies. You can select a choice with an appropriate path and conduct an exchange. This is an efficient technique to convert digital currency to fiat currency and vice versa.
Keep in mind that bank transactions in this situation might be canceled, increasing the likelihood that you will lose your bitcoins or alternative cryptocurrencies. Consequently, it is preferable to choose services that employ escrow accounts (they hold funds until the transaction passes).
Anonymity cannot be taken into account because the verification process must be passed in order to withdraw money. Data from passports and other personal information will be required by the platform.
Centralized exchanges for purchasing cryptocurrency
Centralized exchanges are another choice for buying cryptocurrencies. Additionally, there are KYC and AML processes. However, assuming there are no issues with site liquidity, the transaction will probably happen right away. It is preferable to select big, established platforms.
Do not keep your personal money on the exchange. In the case of cryptocurrencies, it is preferable for them to be shown right away on third-party services and, preferably, on hardware wallets (they are considered the safest in this area). Large trading platforms are at risk of hacking, but there may also be internal issues that prevent clients from accessing their accounts.