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What is the difference between centralized and decentralized exchanges?

CryptoFluxor

By CryptoFluxor
in Cryptocurrencies

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CryptoFluxor

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Centralized exchanges (CEXs) are run by companies that hold user assets and match trades internally. Decentralized exchanges (DEXs) use smart contracts, letting users keep control of their keys. CEXs offer convenience; DEXs offer autonomy. LMGX, like any token, may appear on either type depending on listings and available liquidity.

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