There are three types of currency exchanges
◊ Central platforms
◊ Decentralized platforms
◊ P2P platforms
We will summarize it for you in this article
❍ The first type
➫Centralized platforms are called CEX
Centralized exchanges are the most common type of currency exchange we have.
• Acting as third-party platforms to facilitate the buying, selling and trading of currencies, decentralized platforms act as intermediaries in executing trades. From the central CEX platforms
And other platforms
❍ The second type
➫The decentralized platform is called DEX
Decentralized platforms are platforms that operate without the need for a central authority.
• It allows peer-to-peer currency trading directly between users without the need for a trusted third party to hold the funds.
• Decentralized exchanges rely on smart contracts and blockchain technology to facilitate secure and transparent trades.
• From decentralized platforms Dex
@Pancakeswap
@Uniswap
And other platforms
❍ The third type
➫P2P Platforms: Peer-to-peer exchanges are online platforms that allow users to trade assets directly and privately without intermediaries.
• The platform has a guarantee that facilitates trust between buyers and sellers.
• It works by connecting buyers and sellers directly through online platforms.
• Buyers can locate sellers offering the desired currency and negotiate terms directly with the seller, including price and payment method.
• After verifying the payment, the seller releases the currency to the buyer.
• Some examples of P2P are P2P services available on
@Binance
We hope that this was enough to convey the information to you
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