Where Cryptocurrency Exchange Heads to In 2020? – Digital Market News

With the mainstream adoption of cryptocurrencies getting bigger and bigger every single day, the risk of investing and trading has also mounted. The news of scams where people tend to lose money has made rounds very frequently.

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While the scams are pretty hard to stop, the trading can be made safe and easy with the crypto exchanges. If you are willing to trade cryptocurrencies like Bitcoin, Ethereum, or DeFi tokens, and looking out for best-suited exchanges, then you have landed in the right place.

what are Crypto Exchanges ?

Before digging into the blog, let’s first have a look at the basics. Cryptocurrencies are the digital form of money which are cryptographically secured on the blockchain. They were developed as an alternative to the fiat currency.

Moving forward, the cryptocurrency exchange is a platform where you can buy/sell or trade cryptocurrency. Some exchanges also support fiat currencies while most of the exchanges trade only with the cryptocurrencies.

Centralized and Decentralized Exchanges

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Crypto exchanges can be bifurcated into centralized and decentralized exchanges. Basically, exchanges are the platforms to buy or sell cryptocurrencies. The main difference between them is that a middleman or third-party is involved in centralized but not decentralized.

In centralized exchanges, third-party monitors all the transactions and also takes the responsibility of the cryptos stored. They also keep the records of all the customers and also charge some fees for the service they offer. The