Centralized Exchange (CEX)

Centralized platform for buying, selling and custody of cryptocurrency.

What is it? - Dummies

It's a page or app where a company controls your money so you can buy and sell cryptocurrency.

What is it? - PRO

A CEX is an exchange that acts as an intermediary and guardian of user funds, offering high liquidity and ease of use, but implying trust in a centralized entity.

Key points

It safeguards user funds.

You can require KYC/AML.

It provides additional services (staking, lending).

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Sales and disadvantages

Advantages:

Easy to use for beginners.
High liquidity and speed in transactions.

Disadvantages:

Risk of hacks or bankruptcies.
Lack of full control over your funds.

Related Concepts

Decentralized Exchange (DEX)

Exchange (Cryptocurrency Exchange)

Related blog posts

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