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ESCAENPA

Exchange, broker and wallet

ExchangeA market where buyers and sellers meet directly (Binance, Coinbase, Kraken, Bitget). You see the order book, pay low fees and have more options.
BrokerAn app that sells you crypto at a price it sets (Revolut, eToro…). Easier, but usually more expensive, and sometimes you can’t move the coins to your own wallet.
WalletWhere your cryptos are kept. If you leave them on the exchange, the exchange holds them. If you move them to your own wallet, you control them.
Seed phraseThe 12 or 24 words that give access to your wallet. Whoever has them keeps your money. Never give them to anyone.

How to choose where to buy

  • It should be registered or authorised to operate in Spain/the EU (under the European MiCA rules).
  • Fees for buying, selling and withdrawing.
  • Identity verification (KYC) and security (2FA).
  • You should be able to deposit and withdraw euros by SEPA transfer.
“Not your keys, not your coins”: if you don’t hold the keys, you don’t really own the coins. For large amounts people use their own or hardware wallets (Ledger, Trezor).