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Top 6 BEST Crypto Exchanges in 2024: Which Are Safe?!The crypto market is decentralized in nature. There are no third parties or intermediaries involved and you are free to carry out transactions. Centralized and decentralized exchanges have their own unique advantages and disadvantages. Both serve a different subset of investors. Disadvantages of Centralized Cryptocurrency Exchanges � 1. Hacking risk � 2. Transaction fees � 3. Custody of digital assets and risk of fraud.