Centralized exchange: Centralized exchanges are platforms which facilitate the buying and selling of cryptocurrency, either for fiat currencies, like the US dollar, or between digital assets, like BTC and ETH. They function as trusted intermediaries in trades, and often act as custodians by storing and protecting your funds.
Decentralized exchange: A DEX (decentralized exchange) is a peer-to-peer marketplace where users can trade cryptocurrencies in a non-custodial manner without the need for an intermediary to facilitate the transfer and custody of funds.
Type of Centralized exchange
Types of decentralized exchange
- Pancake swap