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There are several types of cryptocurrency exchanges. Some of these exchanges offer users a platform with simple tools to buy and sell cryptocurrencies.
On the other hand, there are also advanced cryptocurrency trading platforms that are more suitable for professional traders and investors.
Crypto exchanges can be brick-and-mortar and online. This is the general classification of crypto exchanges.
Each of these exchanges is further divided into several types.
Online crypto exchanges
There are 3 types of online cryptocurrency exchanges:
- centralized crypto exchanges (CEX)
- decentralized crypto exchanges (DEX)
- hybrid cryptocurrency exchanges
Centralized exchange offices (CEX)
A traditional form of crypto exchange that offers the ability to buy and sell cryptocurrencies for fiat currencies.
The main feature of central exchange offices is that it is managed by a central organization, most often a company.
Decentralized exchange office (DEX)
The decentralized exchange office was created as an alternative to central crypto exchange.
Decentralized platforms don’t depend on a third party like a company.
All transactions within the decentralized exchange take place with the help of automated processes enabled by blockchain technology.
Hybrid exchanges
Hybrid cryptocurrency exchanges are a combination of centralized and decentralized exchanges.
Their goal is to provide all the functionalities and liquidity offered by centralized crypto exchange and the privacy and security features provided by decentralized exchange offices.
The Bitcoin Store online platform belongs to the group of centralized cryptocurrencies (CEX).
On the platform you can buy, sell and store more than 170 cryptocurrencies.