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Crypto exchanges are integral to the structure of the cryptocurrency market, facilitating users to exchange, purchase, or offload digital assets.

Crypto exchanges are classified into two groups: centralized and decentralized platforms.
Centralized exchanges (CEXs) depend on third-party operators, ensuring smooth transactions for traders.
The downside is the reliance on the exchange for fund storage, which can lead to issues with security.
Alternatively, decentralized exchanges (DEXs) facilitate direct trades without intermediaries. Relying on decentralized infrastructure, DEXs enhance security but may challenge beginners due to technical interfaces.

To select the right crypto exchange, users must assess usability, safety, and costs. Knowledge of both types assists in effective trading crypto.

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