Cryptocurrency exchange

Exchanges are divided into two types: centralized (CEX) and decentralized (DEX). The advantage of centralized exchanges is the presence of legal regulation (in most countries), high transaction speed, the ability to transfer cryptocurrencies into real money. Among the disadvantages: cryptocurrency transactions are not registered in the blockchainblockchain, so all cryptocurrencies are on the same exchange account. The user identification procedure (KYC) is being actively introduced. If a person refuses to pass it, then his account in the crypto exchange may be frozen.