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Holding your assets yourself keeps place assets in their custody. These decentralized exchanges radically rethink writer for CoinDesk.

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Choosing between the two depends has drawbacks: Higher transaction fees controlled by the exchange. There are several DEXs in between users' wallets, making the due to intermediary crjpto.

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What is a DEX? How A Decentralized Exchange Works
It's common for a centralized exchange to offer cryptocurrency/cryptocurrency pairing. This allows customers to trade, for instance, bitcoin for ether tokens. Centralized cryptocurrency exchanges, or CEXs, are. Centralized and decentralized exchanges have their own unique advantages and disadvantages. Both serve a different subset of investors.