Did you start your crypto journey on a centralized exchange or a DEX? 💱

Crypto Terms Explained #3 — What Are Crypto Exchanges? 💱



Now that you know what a crypto wallet is, let’s talk about where people actually buy, sell, and trade crypto — on crypto exchanges.


A crypto exchange is an online platform that works like a digital marketplace for cryptocurrencies.

Just like you go to a shop to buy groceries 🛒 — you go to an exchange to buy or sell crypto.


There are two main types of exchanges:


🏦 Centralized Exchanges (CEX) — like Binance, Coinbase, or OKX


Managed by a company


Easy to use


Ideal for beginners



🔗 Decentralized Exchanges (DEX) — like Uniswap or PancakeSwap


No single company controls them


You trade directly from your wallet


More control, but slightly harder to use



💡 Tip: For beginners, starting on a trusted centralized exchange like Binance is the safest and easiest way to begin your crypto journey.


In short:


> Wallet = Where you keep your crypto.

Exchange = Where you buy and sell crypto.




Next, I’ll explain “Crypto Terms Explained #4 — What Is a Token vs Coin?” — a common question that confuses many beginners.


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