#中心化与去中心化交易所 Operating Model: There is a central institution (such as a company) that operates and manages the entire trading platform. Users deposit cryptocurrency into the exchange's wallet, and trades are matched by the exchange. The transfer of funds and transaction records are centrally processed and recorded by the exchange.

• User Experience: User-friendly interface, simple and convenient operation, fast transaction speed, good liquidity, suitable for most ordinary investors, especially beginners.

• Security Risks: The safety of users' funds relies on the security measures and credibility of the exchange. If the exchange suffers a hacking attack, experiences internal management problems, or fraudulent activities, users' funds may be at risk of loss.

• Regulatory Compliance: Generally complies with financial regulatory requirements of relevant countries and regions, conducts KYC (Know Your Customer) and AML (Anti-Money Laundering) certifications, which to some extent increases the legitimacy and transparency of transactions, but may also limit some users' privacy.