Greeting!
Hope all friends are well.I am going to tell you about Dex;Cex;papular exchanges and cryptotrading.this is my first post in beginners level Post task by respected sir @imagen.

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Explain in your own words what isExchange . Differences between a Wallet and an Exchange. Describe the advantages and disadvantages of DEX and CEX. Have you used an Exchange before? tell us about your experience.

No:1

What is cryptocurrency exchange?

cryptocurrency a digital exchange.who allow all their users to transfer digital assets.Cryptocurrency exchange is described as a Platform.This is a online platform where the users can buy or sell their assets.cryptocurrency exchange it is an online platform.We can buy and sell it wherever we want.cryptocurrency exchange are BitMEX;Bybit
eTro and Binance.
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No:2

Difference b/w wallet and an exchange?

Wallet and cryptocurrency exchange are both used in trading.Cryptocurrency wallet it can be used for cryptocurrency trading at any time.If we want to trade in digital currency So we can use cryptocurrency exchange.wallet lockup with security key. Hacker does not to know the pass code.

Advantages and disadvantages of DEX and CEX.

Advantages and disadvantages of CEX:

Advantages

Centralized exchange is very capable of dealing with transactions.It is also reliable for cryptocurrency trading.

Disadvantages.

Transaction amount.

This centeralized exchange gives many facilities to their user.
But it charges a lot of amount from its user in the transaction.

Hacking.

A large number of client data is available in this centralized exchange.There is a high risk of hacking in this.

Advantages and disadvatages of DEX

Advantages.

decentralized exchange does not require any kind of information and documents from their consumer.it is very reliable exchange.

Privacy.

In decentralized exchanges the risk of hacking is very less.It has too much privacy.

Less chance of fake trading.

There is no chance of fake trading in a decentralized exchange.It has a lot of privacy.And the risk of theft of trading is also very less.it a more suitable platform.

Disadvantages:

Lack of liquidity.

decentralized exchanges has lack of liquidity.that makes difficult for traders when prices is low.

Fiat payment issue.

Decentralization exchange deal with only digital assets.fiat currency can not be used in this.The biggest reason of DEX is.

difficult to use.

The biggest reason in this is that if a user forget their password, then there is no way to re-arrange it. For this reason DEX is rarely used in the market.

My experience using of binance.

Binance this is one of the centralized exchange.
It is very easy to handle exchange in this.Binance is a good platform. Initially I have some difficulty in using Binance, but after a few days i would be easy to use.You Should not invest more money on digital assets.Something happend in the Cryptocurrency Market.

Conclusion:

i am using binance.it is a good exchange.
CEX and DEX allow to their users for different work.It is depend on the user that what platform he uses.Binance is on top.This is used centralized exchange.i am also using the binance.it is very easy to use.According to my conclusion It is very important to have knowledge of exchange in the cryptocurrency field.

Cc.
@imagen