MakeUseOf - Centralized vs Decentralized Crypto Exchanges

Description

A cryptocurrency exchange is a platform where users can buy and sell cryptocurrencies. There are two types of exchanges: centralized and decentralized.

Centralized exchanges are online platforms that act as intermediaries between buyers and sellers. They match orders and facilitate transactions.Cryptocurrencies are stored in wallets on the exchange. This centralized model is similar to how traditional financial institutions like banks operate.

Decentralized exchanges are peer-to-peer platforms that connect buyers and sellers directly. There is

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