A crypto exchange is a platform where cryptocurrencies are exchanged or purchased.

Crypto exchanges come in two primary forms: centralized and decentralized platforms.
Centralized exchanges (CEXs) are managed by companies, providing convenience for Full Article traders.
However, they require users to trust the platform, which introduces potential security concerns.
On the other hand, decentralized exchanges (DEXs) enable users to transact independently. Built on blockchain protocols and utilizing smart contracts, DEXs reduce the risk of hacks but can be complex to navigate.

To select the right crypto exchange, users must assess usability, safety, and costs. By understanding the key features of CEXs and DEXs, individuals are better equipped to navigate the crypto space.