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Decentralized Exchange (DEX)
While centralized exchange is like a broker platform, decentralized exchange is more like marketplace. Which using a peer-to-peer exchange.
This type of exchange is spread throughout computers located around the world, which means if one computer is attacked, the network keeps running.
The only problem of decentralized exchanges is lower trading volume, small liquidity, and a lack of customer support.
- Hybrid Exchange
Like the name hybrid provide both centralized and decentralized system, they offer fast transaction without compromising users privacy.
Read : DeFi and CeFi Differences
Cryptocurrency Exchange Fees
Crypto exchange charge fees for using their services, there are two types of fees you need to know :
- Exchange Fee : It’s like a service fee for using their platform, this fees include trading fee, deposit fee, withdrawal fee.
- Network Fee : Usually paid for miners who process and secure crypto transactions on the blockchain. Some of them allows to pay more to speed up transaction speeds.
Recommendation of Cryptocurrency Exchange Platform
Check out the list of recommended cryptocurrency exchange market to trade your crypto assets :
Coinbase
Coinbase is recommended for beginner, with user friendly interface, some educational material, and lot of cryptocurrency selection. The only problem with this exchange, it’s charge a higher fee.