Crypto Academy Season 3 Beginners' course - Task 5: Dex, Cex, Popular Exchanges and Trading Cryptos. BY @lesandra

Greetings my dear friends from Steemit, once again I come to you to present my task for class no.5 of the fixed course for beginners of the teacher @imagen, I hope that this new experience will leave us all a great learning, for this task I will answer question no.3, without more to say let's get started.

An exchange or exchange as we know it in the world of cryptocurrencies, is a digital platform that we use to exchange one cryptocurrency for another, we can exchange a cryptocurrency for fiat currencies and we can also buy and sell crypto assets. There are two types of exchange, centralized and decentralized, the difference between both is that centralized ones such as Binance, Poloniex, Coinbase and Kucoin are directed and managed by a central entity, these are more popular due to their large volume and market liquidity. that makes them the most used by the general public, decentralized ones such as Uniswap and Pancakeswap do not depend on third parties for their operation, in them the costs for operations are lower because they are done directly from person to person. The exchanges have their internal wallets, in these wallets we receive the cryptocurrencies, whether we buy them or they are transferred to us, within the exchanges many operations can be carried out, one of the most common is trading, this is based on the purchase and sale of an asset in order to obtain profits from our investment, for this a prior analysis must be carried out, including technical analysis and fundamental analysis, this in order to determine in which direction the price will move in the market. Other activities that can be carried out within an exchange are, Holding, Stalking, Farmingentre others, but as I said its main function is the purchase, sale and exchange of cryptocurrencies, it is advisable to have more than one exchange account, this with the purpose to have access to all the variety of currencies and functionalities of the exchanges, this is because some have better commission charges and some have more variety of cryptocurrencies, there are some cryptocurrencies that are only available in some exchanges.

Wallet:

It is a digital wallet that will allow you to store your public and private keys, it also allows you to save and manage all the cryptocurrencies you obtain. It is very important to have the wallets since they are where we will have our crypto assets.

Exchange:

Exchanges are virtual platforms that allow us to trade or exchange crypto assets between users. In other words, it is a meeting place where a market price is generated in which users, according to their interest, will carry out their transactions.

Differences:

• In a Wallet we are going to save and control the cryptocurrencies. In an Exchange, cryptocurrencies are going to be traded, they are going to be bought or sold.

• With the Wallet you have direct control of the crypto assets since you are the owner of the wallet . In the Exchange you are limited to the control of cryptocurrencies since it holds and manages crypto assets on our behalf.

SCR.

• If you lose the password of the Wallet you will no longer be able to recover it and if you have cryptocurrencies, you will lose it too. If you lose the password in the Exchange, you have the possibility of recovering the password.

• The Wallet is like a kind of wallet where the cryptocurrencies are going to be stored. The Exchange will function as a kind of bank account and the person decides when and how to use it and where it is going to be transferred.

Benefit/ Advantages	Disadvantages
They contain more options for performing multiple actions to generate income.	The large central authorities can govern and monitor the processes within the platform, thus depending on third parties to carry out and accept our operations.
They contain detailed information in your order book, so we can see the amount of purchase and sale volume for any asset.	With our data, addresses and information about our account being so exposed, these types of centralized exchanges are more prone to massive hacking..
Being centralized platforms, they are guarded and monitored, so we would have a backup of our assets from them, if at any time a case of massive hacking occurs on the platform.	Centralization in many cases is usually a problem for those investors who want more privacy when carrying out their operations.
These types of exchanges have more liquidity and volume in the market, so they are more used by large investors, and they are very easy to use.	Commission costs can be a bit high, compared to decentralized exchanges.

SCR.

Advantages	Disadvantages
These platforms are completely anonymous.	Its functions are basic and are limited to exchange.
Users have full control over their funds	They are more complex platforms, it is necessary to have a greater knowledge for their operation.
These platforms are more secure and reliable.	Its volume and liquidity are not that great, so operations can be counterproductive.

Yes, although I do not have much time, I use binance to make my exchanges, its operation is quite simple and once they explained how it works I was able to make use of it, among the advantages that I can observe on this platform mainly is that I can make exchanges p2p. Although I have tried several times to use other platforms, I always lean towards binance, and just as I have talked with many people who also think the same thing and that is that according to what I have investigated, binance is one of the most used and popular exchanges in the world. Today and this is thanks to the wide range of currencies that it has available to carry out exchanges in addition to the fact that its commission rate per exchange is accessible compared to others.

The exchanges are defined as the cryptocurrency market, in which we can buy, sell and exchange our crypto assets. These can be Centralized or Decentralized, the Centralized serve as an intermediary between the users while the Decentralized are the users who have control over their funds.The centralized exchage is ahead of the Decentralized since these have greater volume and liquidity, they are preferred by investors. These exchanges have other functions where you can put to produce your money or other forms of investment.