Crypto exchanges act as the foundation of the cryptocurrency market, facilitating users to acquire and transact with digital assets.

Crypto exchanges are classified into two groups: centralized and decentralized platforms.
Centralized exchanges (CEXs) function similarly to conventional banks, ensuring intuitive tools and assistance to users.
The downside is the reliance on the exchange for fund storage, which can lead to issues with security.
Alternatively, decentralized exchanges (DEXs) facilitate direct trades without intermediaries. Built on blockchain protocols and utilizing smart contracts, DEXs prioritize user control but can be complex to navigate.

Choosing a crypto exchange is influenced by personal preferences and Recommended Studying goals. Knowledge of both types helps users maximize opportunities.