Monday, November 29, 2021
HomeNewsThree Different Types of Cryptocurrency Exchange Models: CEX, DEX And Hybrid

Three Different Types of Cryptocurrency Exchange Models: CEX, DEX And Hybrid

Types of Cryptocurrency Exchanges: Centralized Cryptocurrency Exchanges (CEX), Decentralized Cryptocurrency Exchanges (DEX) and Hybrid Cryptocurrency Exchanges

A cryptocurrency exchange is essentially exactly what it sounds like – a website or app where you can trade Bitcoin with other cryptocurrencies between each other and for traditional fiat currencies.

The Cryptocurrency exchanges effectively acts as an intermediary between buyers and sellers, allowing them to trade fiat money for cryptocurrencies such as:-

  • Ethereum,
  • NEO,
  • XEM,
  • Siacoin,
  • Zilliqa,
  • QTUM,
  • “../waves-coin-cryptocurrency-explained/” target=”_blank” rel=”noopener noreferrer”>list of best centralized cryptocurrency exchanges to buy/sell/trade bitcoins and other cryptocurrencies.

    Centralized cryptocurrency exchanges makes money by obtaining a fee from each transaction (usually from 0.1% to 1.5%). The broker company controls the entire system, infrastructure and platform. In the case of hacker attacks, DDoS attacks or other unauthorized access, the exchange will suspend its work in order to secure user funds. In past various centralized cryptocurrency exchanges have been hacked and million dollars worth of cryptocurrencies has been stolen. Here are few examples:-

    • South Korean Cryptocurrency Exchange, Coinrail Hacked.
RELATED ARTICLES

Most Popular