What are the different types of cryptocurrency exchanges?
- There are several types of cryptocurrency exchanges, including:
- Centralized exchanges (CEX): These exchanges operate as intermediaries, holding users’ funds and facilitating transactions.
- Decentralized exchanges (DEX): These exchanges allow users to trade directly with each other, eliminating the need for a central authority.
- Peer-to-peer (P2P) exchanges: These exchanges enable users to buy and sell cryptocurrency directly from other users, without an intermediary.
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