A crypto exchange is a platform where cryptocurrencies are exchanged or purchased.
Crypto exchanges can be divided into two main categories: centralized and Uas site decentralized platforms.
Centralized exchanges (CEXs) rely on centralized control and oversight, providing intuitive tools and customer support.
However, they involve third-party custodianship, which makes them vulnerable to security breaches and fund losses.
Conversely, decentralized exchanges (DEXs) offer a trustless, peer-to-peer trading environment. Using blockchain technology and smart contracts, DEXs prioritize user control but may challenge beginners due to technical interfaces.
Choosing a crypto exchange requires considering various factors. Knowledge of both types helps users maximize opportunities.