They provide a secure, reliable and safe environment for users to buy and sell digital assets.
They are also responsible for verifying the accuracy and legitimacy of transactions that take place on the platform.
Exchanges also provide users with additional services such as margin trading and lending, which help users to increase their profits.
Each type of exchange has its own advantages and disadvantages, such as security, fees, liquidity, and user-friendliness.
Therefore, it is important to understand the differences between the two types of exchanges before choosing the right one for your needs.