Both types of crypto exchanges play a major role today in giving newcomers their first exposure to cryptocurrency but have some differences in how they manage crypto storage, liquidity, platform and data security, as well as usability.
If you are a reasonably experienced crypto owner, and privacy and control over your funds are of the utmost priority, and you are willing to understand more about how to use cryptocurrency in a more decentralised manner, then a DEX should meet your needs – though it is perhaps advisable to stick to larger, more established DEXs.
If you are an absolute beginner, then the intuitiveness and fiat on/off-ramps of CEXs might be the better way for you to start. Additionally, if you’re looking for powerful trading tools and prefer legal clarity to do your taxes, for example, a licensed CEX in your country is likely the better option.
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