What is a decentralized exchange?
You can use centralized and decentralized exchanges to trade cryptos. The former may be preferable when you are starting out or want to trust a well-known company. But the latter is the only option if you want to trade lesser-known cryptos and have full control of your crypto wallet. Cryptocurrency exchanges are platforms that allow users to trade cryptos. They are usually distinguished as centralized exchanges (CEX) or decentralized exchanges (DEX).