What are Cryptocurrency Exchanges? A brief explanation of Centralized and Decentralized Exchange
A cryptocurrency exchange is a platform through which you can buy, sell, or trade cryptocurrencies like BTC, ETH, BNB, and more.
There are two types of cryptocurrency exchange: Centralized Exchange (CEX) and Decentralized Exchange (DEX).
Before diving into the world of cryptocurrencies, you need to understand the difference between these two types of exchanges.
These are trusted third-party exchanges that facilitate trades between buyers and sellers. Centralized exchanges minimize friction and increase convenience in trading.