Want to buy, sell, or trade crypto? Then you’ll need a crypto exchange. It’s the main gateway between traditional money and digital assets — and it comes in several forms.
In this article, we explain what a crypto exchange is, how it works, and the difference between centralized and decentralized platforms.
What is a crypto exchange?
A crypto exchange is an online platform that allows users to buy, sell, and swap cryptocurrencies. You can use it to convert fiat (like euros or dollars) into crypto — and vice versa.
Exchanges can also offer wallets, charts, staking, and trading tools — depending on the platform.
Types of crypto exchanges
- Centralized Exchange (CEX): Operated by a company that manages user accounts and funds (e.g. Coinbase, Binance, Floin)
- Decentralized Exchange (DEX): Peer-to-peer platform running on smart contracts (e.g. Uniswap, PancakeSwap)
- Hybrid: Combines features of both for improved control and convenience
CEX vs DEX – Key Differences
- Ease of use: CEXs are beginner-friendly, DEXs require wallet knowledge
- Custody: CEXs hold your assets, DEXs give you full control
- KYC/Regulation: CEXs require identity checks, DEXs usually don’t
- Speed & liquidity: CEXs often offer better performance and deeper markets
How to choose the right exchange
- Check security features and regulatory compliance
- Make sure it supports the coins and tokens you want
- Look at trading fees, fiat options, and support
Floin Insight
Floin is a VASP (Virtual Asset Service Provider) based in Liechtenstein — with a strong focus on compliance, transparency, and user experience. Whether you're new to crypto or looking for a secure trading environment, Floin offers a smooth and trustworthy platform for your crypto journey.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article