I would like to add on the `Custodial And Non Custodial Exchanges`

Custodial Exchanges -

• Exchanges which hold your cryptos on your behalf, mostly these are the exchanges where you can do trading, and they also have good liquidity. It is good for users who do daily trading.
• Example - Binance, KuCoin, Huobi Global, HitBtc, Coinbase etc are all custodial exchanges.

Non-Custodial Exchanges

• Exchanges which does not hold your cryptos, you can call the instant exchanges, only when you send them your cryptos for trading, they will be having access to your funds, and then they will return you back the traded coin.
• Example - CoinSwitch Exchange - They are an exchange aggregator service, you can compare the prices offered at all leading exchanges like, binance, changelly, shapeshift, changenow, simpleswap , Changelly, Shapeshift, Swaplab, Blocktrades.
• For trading on instant exchanges you need to store your cryptos in your wallets, exodus, trezor, metamask, trust wallets, atomic wallets are some of the examples of Non Custodial Wallets.