When many different cryptocurrencies emerged in the early 2010s, there was an increase in demand for platforms where these assets could be swapped and traded. This is how cryptocurrency exchanges appeared. Historically, centralized exchanges (CEXs) came first: they managed to attract traders from all over the world and became highly liquid. CEXs are key drivers of the entire crypto industry; basically, they set the crypto assets’ prices. 

DEX crypto exchanges have been largely known for their poor liquidity and less comfortable interfaces as well as lowered security risks; however, recently privacy has become much more prioritized. Thanks to Uniswap and other decentralized cryptocurrency exchanges, the industry is changing right before our eyes! 

In this crypto exchange review, we will compare decentralized and centralized exchanges and consider their pros and cons.