Exchanges

An exchange is a place that you visit to trade an asset you own for one you don’t. It is important to find an exchange you trust and has great security. Hackers target exchanges often and from time to time succeed. Other times that exchange will be “hacked” and one of the owners takes the money and runs.

An important thing you need to understand with the CEX’s is that you do not own the crypto until it’s in your private wallet. It would be most ideal to send any coins directly to a wallet you own the keys on. Decentralized exchanges you own token as soon as it executes and nothing leaves your wallet before the trade happens