trading
Exchange
A venue for buying and selling cryptocurrencies. Centralised exchanges (CEX — Coinbase, Binance, Kraken) operate order books with custodial account structures. Decentralised exchanges (DEX — Uniswap, Curve, Balancer) use smart contracts and don't take custody. Choice affects custody, KYC requirements, liquidity, and regulatory exposure.
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Every glossary term is educational only. Nothing on this page constitutes financial, investment, tax, or legal advice. Browse all 356 terms →
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