The vast majority of cryptocurrency trading currently still takes place on centralised exchanges (CEXs). On these platforms traders are serviced by central intermediaries.

Whereas CEXs such as Coinbase or Kraken require a great deal of personal information and manage your accounts, making your funds vulnerable to theft. 

A decentralised exchange, or DEX, in contrast, allows for direct, hassle-free trading and users are responsible for keeping their funds safe.

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