A crypto exchange is a digital hub where cryptocurrencies are acquired and swapped.

Crypto exchanges are classified into two groups: centralized and decentralized platforms.
Centralized exchanges (CEXs) are controlled by central authorities, providing convenience for users.
However, users must trust the exchange, which exposes them to risks such as hacks or mismanagement.
Conversely, Resource decentralized exchanges (DEXs) enable users to transact independently. Relying on decentralized infrastructure, DEXs prioritize user control but can be complex to navigate.

To select the right crypto exchange, users should evaluate security, fees, and features. By understanding the distinct qualities of CEXs and DEXs, individuals gain confidence in their cryptocurrency journey.