COURSE 2 - 7. How to buy sats
The best way to get bitcoins is not to buy them but to get paid in bitcoins. This is the best way because it is private, decentralized and convenient. The alternative is exchanges.
Decentralized exchanges:
they are peer-to-peer exchanges. Because there's no KYC, they allow for better privacy (and therefore security) than centralized exchanges;
disadvantages: usually you need to have already some sats; there is much less liquidity (relatively big trades are not possible); higher prices; slightly more difficult than centralized exchanges;
Main decentralized exchanges:
Centralized exchanges: inverse advantages/disadvantages:
advantages: more liquidity, easier, lower prices (but commissions), they never require to already have some sats;
disadvantages: KYC;
if centralized exchanges are used to buy bitcoins, funds should immediately be moved to one's own cold wallet (the private keys of which are controlled by the owner);
if centralized exchanges are used to store bitcoins (highly discouraged!), at the very least they should provide exclusive control over one's own private keys, as is the case of relai.app for example.
