Cryptocurrency traders can choose from two main kinds of exchange, either centralized or decentralized platforms.
Today we’re going to look at centralized exchanges (CEXs), which are the main entry point into the crypto world for beginners. They’re considered to be more user-friendly and have smoother on-ramps, hence they’re a good starting point for new users.
It must be noted that CEXs are custodial in nature, meaning that they control the wallets that hold user’s funds. DEXs, on the other hand, are non-custodial, meaning that users control their funds within their own wallet, and are responsible for the security of those assets.
New crypto users often prefer to store their funds on a CEX, at least to begin with, as they’re unfamiliar with the intricacies of crypto wallets. CEXs have other advantages over DEXs, including that they generally offer better rates when swapping tokens due to their vast liquidity. This is in contrast to DEX platforms, where trades can often suffe

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