Types of Cryptocurrency Exchanges

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Types of Cryptocurrency Exchanges
The best cryptocurrency exchanges are typically
those that allow you to register and set up
trading accounts after a quick verification
process. There are three main types of
cryptocurrency exchanges centralized,
decentralized, and hybrid. They all have
different pros and cons, which we discuss below.
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Centralized Exchanges

• These are the most common type of cryptocurrency
  exchange. The platform is run by a company that
  handles user activity and holds your funds in
  cold storage instead of on its own servers or hot
  wallets as other centralized exchanges do.
  Centralized exchanges usually offer lower fees
  than others but require the personal information
  to get started (such as an email address). Some
  examples of centralized exchanges include
  Poloniex, Kraken, and Bittrex.

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Decentralized Exchanges
These exchanges run on blockchain technology that
is not controlled by any one person or
organization. The exchange will operate using
smart contracts that are run on a distributed
ledger system and don't require you to relinquish
control of your tokens until the trade is
complete. Decentralized exchanges typically have
low fees and don't require the personal
information to start trading except for an email
address, but they aren't as easy to use as
centralized ones and often have less volume than
the bigger centralized exchanges.
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Hybrid Exchanges
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