To date, over 400 exchanges are represented on the cryptocurrency market. They can be divided into two types: CEX and DEX ⚖️
💸 CEX (centralized exchange) - a centralized exchange, the management of which lies on the outside of a single organization that acts as an intermediary between forums. Examples: Coinbase, Kraken, Binance, FTX, by the way https://cryptorobotics.co/ working with all these organizations like a permanent partner since 2018!.
👾 DEX (Decentralized Exchange) is a decentralized cryptocurrency exchange that operates on blockchain technologies. Examples: Uniswap, Pancakeswap, SushiSwap.
CEX pros:
📎 Fiat/crypto and crypto/fiat currency conversion
📎 Great functionality for trading
📎High liquidity
📎 Easy to use. Binance, for example, has a lite version for users willing to make basic mistakes.
Cons of CEX:
📎 No access to private keys
📎 Strict Know Your Customer (KYC) policy
📎 Security Risk (CEX is rarely hacked anymore)
DEX pros:
📎 Privacy and anonymity
📎 Only the owner has access to assets and private keys
📎 DeFi and NFT integration
DEX cons:
📎 have fun liquidation is lower than at CEX
📎 Limited trading - features such as margin exceptions, limit orders, futures are usually available
Results:
CEX and DEX allow you to trade cryptocurrencies with ratios like liquidity, security and ease of use.
For beginners, CEX requires an easy and fast way to trade. DEX is more suitable for experienced traders, privacy and full control over their digital funds are required.