💱 Exchanges: the gateway to the crypto world
An exchange is a platform where you can buy, sell, or trade cryptocurrencies. It is the starting point for most new users in the crypto ecosystem. 🚀
🏦 1. Types of exchanges
There are two main types:
CEX (Centralized): managed by a company that holds your funds and executes your orders. Example: Binance, Coinbase, Kraken.
DEX (Decentralized): operate without intermediaries. Transactions occur directly between users. Example: Uniswap, PancakeSwap, dYdX.
🔑 2. Key differences
Aspect CEX DEX
Fund management Custodied by the platform Total control by the user
Ease of use High Medium
KYC (verification) Mandatory Not required
Security High, but depends on the company High, if you take care of your private key
⚙️ 3. What you can do on an exchange
Buy cryptocurrencies with fiat money 💵
Trading (buying and selling to profit from price movements) 📈
Participate in staking, farming, or launchpads 🚀
Send and receive funds to your personal wallet 🔐
🧠 4. Pro tip:
Use a CEX to start and familiarize yourself with the ecosystem.
When you gain experience, try a DEX to experience true decentralization.
🔸 In the crypto world, exchanges are like airports: they connect you to new financial destinations.
🧩 This is an educational series about crypto from scratch
💬 Follow me if you want to keep learning
📊 Fun fact:
Binance processes over $60 billion daily in trading volume, making it the largest exchange in the world. 🌍
📲 Follow me on Instagram (info in profile)
