N general, we divide the exchange into three categories:
Custody exchange;
Unmanaged exchange;
Decentralized exchange;
1.Managed exchange
The biggest advantage of managed switching is ease of use. Users can access their wallet for authentication using a username and password without having to protect the private key.
Pros: The familiar user interface, cryptocurrency and legal currency exchange operations are very simple and provide good customer support.
Disadvantages: Easy to become a hacker target, high fees, privacy and security protection is not enough.
- unmanaged exchange
There is a significant difference between unmanaged and managed exchanges: it does not manage the user's wallet.
Among many unmanaged switches, OKSwap，ShapeShift, and Changelly provide users with more security and privacy protection.
3.Decentralized communication
Many in the encryption community are working hard to spread the success of the exchange.
Decentralized exchanges are cheap and transparent, but they are less interactive than unmanaged exchanges.
The entire industry and market are changing rapidly and the model will change a lot. We will wait and see which exchanges will bring value to the future.