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

Crypto exchanges can be divided into two main categories: centralized and decentralized platforms.
Centralized exchanges (CEXs) depend on third-party operators, offering ease of use for traders.
The downside is the reliance on the exchange for fund storage, which increases exposure to hacks.
Alternatively, decentralized exchanges (DEXs) offer a trustless, peer-to-peer trading crypto environment. Relying on decentralized infrastructure, DEXs prioritize user control but can be complex to navigate.

To select the right crypto exchange, users must assess usability, safety, and costs. By understanding the key features of CEXs and DEXs, individuals gain confidence in their cryptocurrency journey.