The Book about Cryptocurrency №1. Second edition expanded

In addition, Trezor offers to come up with a pin code. Pin-code is created without connecting to the Internet, so no one can intercept this password.

Be careful when entering the pin-code. Each mistake freezes the wallet, and the more you make mistakes, the longer the blocking is activated.

Another level of protection is a keyword. The same word will be requested when restoring the wallet after loss or breakage. Without the keyword there will be no access to the wallet.

The wallet has a display that shows where the money is sent. And to confirm each action you need to press the buttons, which eliminates the possibility of hacking it.

Another family of hardware wallets is Ledger.

They are not inferior to Trezor in the level of protection, quality of work. There are versions of wallets with and without displays.

Ledger Nano S is a model with a display. It also has two confirmation buttons that require physical pressing (which, like Trezor wallet, protects from malware attacks). To open the wallet, you also need to come up with a four-digit pin code. There is also a code phrase of 24 words, which will be requested when trying to make a transaction from the wallet. It is important to remember that if you enter the pin code incorrectly three times, the wallet is blocked.

So, the market offers a lot of hardware wallets, and their prices are quite affordable. You can try any wallet that seems reliable to you. The main thing is to remember about security! If you order a wallet on the Internet, make sure that it came whole, not opened. There are known cases when attackers put malware on the gadget, which then «took» money from the account.

Hardware wallets are needed mainly for long-term storage of cryptocurrencies.

Cryptocurrency exchanges

In the world today there is a huge number of exchanges that trade in cryptocurrencies. What is the convenience of the exchange? All work is done online through a browser, there is no need to use a hardware wallet or wallet in the form of an application.

Cryptocurrency exchanges typically support a wide range of cryptocurrencies, including popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), as well as many other altcoins.

Exchanges offer various trading pairs that determine which cryptocurrencies can be exchanged between each other. For example, an exchange may offer to trade Bitcoin for Ethereum or Bitcoin for USDT.

You can fund your account on the exchange in bitcoin, Ethereum, and other altcoins. There are exchanges where you can use both regular bank cards and traditional electronic wallets (WebMoney, etc.).

Cryptocurrency exchange https://partner.bybit.com/b/problockchain (https://partner.bybit.com/b/problockchain) supports different deposit systems, including fiat (regular money like USD$) The CEX exchange supports bank cards.

The most popular exchanges in 2023.

Please note that the rating may change depending on current trading volumes.

Binance is the most popular and large-scale exchange in the crypto world with an average daily turnover of $30 billion. The platform has a convenient multi-lingual interface, a large number of trading pairs. Mandatory verification of identity.

Bybit is a futures platform with support for copy-trading inverse contracts and other useful options. Here you can work on the spot marketplace and P2P, use leveraged tokens and a trading bot. An NFT marketplace is open for digital art lovers. A non-custodial DEX platform and Bybit Wallet with Dapp support have been launched.

HUOBI is a resource with a large set of trading tools and a unique system of protection against hacking. It supports leveraged trading on spot and futures, as well as staking, including ETH 2.0, free trading bot and OTC transactions. You can mine 7 digital assets on the mining pool. You can exchange crypto for fiat in the «Quick Buy/Sell» tab or on the P2P marketplace. In the «Training» section there are many useful articles for beginners, but you will have to translate them into Russian yourself. Bonus from the authors of the book! Register on the exchange and get 10% discount on commissions and $700 bonuses – https://bit.ly/3bsh6pf.

MEXC Global is a rather popular Asian exchange that offers many tools for working with cryptocurrency derivatives and tokens of defi-projects. You can trade with margin on the spot market, join the MX-Defi mining pool, get prizes for exchanging select tokens or trading M-Day futures. The exchange supports P2P trading and its own MasterCard MEXC plastic card, the balance of which can be topped up with cryptocurrency. Copytrading, a free trading bot and other trading tools are available. You can trade on the exchange without verification, but not all sections will be available. After passing the basic KYC level, you can trade on P2P with the Russian ruble.

KUCOIN is a simple and convenient exchange for cryptocurrency trading and staking. If you are satisfied with the daily withdrawal limit of 5 BTC, you can trade anonymously. For verified customers, the withdrawal limit goes up to 200 BTC and the leverage for futures trading goes up to 100x. You can buy digital currency with a credit card and in the P2P section.

Bitget is a trading platform that has been operating since 2018. It is designed for spot, futures and coin trading. The digital assets are bitcoin, lightcoin, etherium, etc. Trading is organized on a proprietary terminal. There is an official website of the Bitget exchange, a mobile application for iOS and Android. The maker’s commission is 0.02%, the taker’s – 0.06%, there is also a special program for vip-clients with reduced commissions.

The company is headquartered in Singapore. Bitget cryptocurrency exchange is one of the fastest growing exchanges. The total number of users has almost doubled over the last year and already exceeds 8 million.

EXMO – attracts residents of Eastern Europe with the opportunity to exchange cryptocurrency for local currencies Russian ruble, Ukrainian hryvnia, Polish zloty, Turkish lira. And, of course, there are trading pairs with the U.S. dollar and euro. Merchant service is supported, which allows businessmen to accept payment for goods and services with digital money, as well as OTC transactions and trading with the help of cross-platform trading bots.

Okex, or OKX, is one of the safest crypto exchanges with an extensive set of trading tools and user-friendly interface. The service is constantly expanding its services, providing traders with additional opportunities to earn money. In 2022, the exchange rebranded and changed its name from Okex to OKX. Innovations will improve the performance of a variety of tasks, as well as contribute to the expansion of functional capabilities. Beginners are provided with a demo account. It is possible to trade with margin on the spot and futures market, earn passive income on crypto loans and work on a pool. In the Exchange Cloud section, everyone can try to create their own crypto exchange from scratch, customize branding for different web platforms and applications.

Garantex is an exchange for exchanging BTC/USDT to RUB. Transactions are conducted through a single exchange glass BTC/USDT – RUB with automatic conversion. The exchange works with BTC, USDT-ERC20, USDT-OMNI. Simple registration, account protection with double authorization, minimum interest per transaction (0.1%), direct interaction with clients from Moscow, St. Petersburg, Krasnodar, Rostov and Yekaterinburg. Transactions on the platform can be made around the clock. The Garantex exchange is designed for traders, miners and even exchangers. For miners, the highest buying rate is guaranteed, and the official website of the exchange offers to get cash at the cash desk, by courier or by withdrawal to a bank card. There is also an affiliate program on the exchange, according to which you will receive 0.1% of all transactions of your invited participants. Recently, the exchange has created new ruble codes, with the help of which you can transfer funds to other users of the exchange Garantex. But the main plus is that there is an opportunity to sell codes, earning up to 1.5% of the code amount. For beginners there is a simplified system of selling codes. Don’t miss your chance to earn.

Yobit is a popular service among miners and crypto traders. Its main advantages: the ability to exchange cryptocurrency for rubles and US dollars; complete anonymity, no identity verification, support for little-known blockchain projects. Yobit trading platform works with a thousand altcoins and provides active customers with a bonus in the form of access to the money faucet.

What to pay attention to when choosing a trading platform?

The choice of platform depends on the digital assets used. The most popular currencies are traded on all exchanges, but little-known altcoins may not be on all services.

When choosing an exchange, study the reviews. You can visit resources such as Bitcointalk, Reddit or miningclub.info.

Pay attention to the prices of the coin you are interested in on a particular trading platform. Most coins are exchanged for bitcoin, less often for etherium, lightcoin or other alts. The cost of the exchange is expressed in dollars and it can vary slightly from exchange to exchange.

Gather information about the commission fee. Each exchange has its own conditions. It is also important to pay attention to the minimum amount of deposit and withdrawal.

Large crypto exchanges often require verification of identity. If this is not done, the conditions for withdrawal and trading may be less favorable. If you do not want to undergo verification, then study the client agreement.

Pay attention to whether the exchange supports transactions with fiat currencies.

For those who are engaged in trading, a convenient interface and options for technical and graphical analysis are important.

Choice of trading instruments. On some exchanges you can buy or sell coins only at the current price. Other sites allow you to create stop-limit and other types of orders, the price of which is specified by the user.

After the introduction of economic sanctions against the Russian Federation by Western countries, Russians trading on crypto exchanges have another headache. Some platforms have started restricting the access of Russians to trading and even blocking their accounts. Some «especially advanced» exchanges have put citizens of Russia and Belarus and all residents of the recently annexed territories on the persona non grata lists, along with citizens of Afghanistan and other countries that are not quite as prosperous. Our list includes exchanges that work with citizens of the Russian Federation.

It is not always possible to work only on one crypto platform. Most miners and traders have 2—3 accounts on different services, switching between them depending on the situation on the market as a whole, and on each of the trading platforms separately.

Minuses of working on exchanges: high risk of account hacking, closure of exchanges by regulators, hacker attacks.

We have analyzed only a few examples of popular cryptocurrency exchanges, but the market is constantly changing, and new exchanges may appear. Each exchange has its own characteristics, and traders should do their own research to find the most suitable one for their needs.

How and where to buy cryptocurrencies bypassing exchanges

Sky Crypto

SKY CRYPTO is a large P2P platform that unites buyers and sellers from all over the world in a safe space to exchange and store cryptocurrency in an internal account. The service is available on any device: you can use the wallet on your PC in a web browser, Telegram bot and mobile app.

On the company’s website, prompt buying or selling of digital assets between clients is available. Users can exchange BTC, ETH and USDT on the site itself or via Telegram messenger.

The system has fixed commissions – 0.5% when selling and 1% when buying via the web platform or chatbot. At the same time, users are not charged fees when transferring assets within the SKY CRYPTO system. The site offers more than 30 payment methods.

The system does not require users to register, which allows customers to remain anonymous. To conduct a transaction, you need to specify only your e-mail address and details.

Sky Crypto Telegram Bots

As previously mentioned, you can buy and sell cryptocurrency in the Sky Crypto service via Telegram bots.

Sky Crypto has three official bots for each of the cryptocurrencies: