币界网报道：A crypto exchange is a digital platform that allows users to buy, sell, and trade cryptocurrencies like Bitcoin and Ethereum. These exchanges function similarly to traditional stock exchanges but focus exclusively on digital assets. There are two main types: centralized exchanges (CEXs), such as Binance and Coinbase, which act as intermediaries and offer user-friendly interfaces, and decentralized exchanges (DEXs), like Uniswap, which operate without a central authority, enabling peer-to-peer trading via smart contracts. Key features include trading pairs, liquidity, security measures (like two-factor authentication), and varying fee structures. Beginners should consider factors like security, supported currencies, fees, and regulatory compliance when choosing an exchange. While CEXs provide ease of use and customer support, DEXs offer greater privacy and control over funds. However, risks such as hacking and market volatility remain, emphasizing the need for due diligence before trading.