word

Cryptocurrency Exchange

KRIP-toh-KURE-en-see eks-CHAYNJ

/ˈkrɪp.toʊˌkjʊər.ən.si ɪksˈtʃeɪndʒ/

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Syllable breakdown

Cryptocurrencyexchange

Dictionary meaning

A platform that facilitates the buying, selling, and trading of cryptocurrencies; can be centralized (CEX) — operated by a company like Coinbase or Binance — or decentralized (DEX) — using smart contracts without a central authority.

Examples

She moved her Bitcoin to a cold wallet after the cryptocurrency exchange was hacked.
Decentralized cryptocurrency exchanges allow trading without creating an account or providing ID.

Synonyms: crypto exchange, CEX, DEX, digital asset exchange

Pronunciation tips

CEX (centralized) = easier but you trust the company. DEX (decentralized) = more complex but you control your keys. 'Not your keys, not your coins'.

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