A crypto exchange is an online marketplace where cryptocurrencies are exchanged or purchased.

Crypto exchanges come in two primary forms: centralized and decentralized platforms.
Centralized exchanges (CEXs) are controlled by central authorities, offering ease of use for participants.
However, users must trust the exchange, which exposes them to risks such as hacks or mismanagement.
On click through the following web page other hand, decentralized exchanges (DEXs) offer a trustless, peer-to-peer trading environment. 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 goals. By understanding the distinct qualities of CEXs and DEXs, individuals are better equipped to navigate the crypto space.