CEX

A CEX (centralized exchange) is a cryptocurrency trading platform managed by a single company or organization. Unlike decentralized exchanges (DEX), a CEX operates similarly to traditional financial markets, offering users convenience, liquidity, and additional services such as leveraged trading, staking, and crypto loans.

To use a CEX, users typically need to create an account and complete a KYC (Know Your Customer) verification process, which requires identity confirmation. Centralized exchanges provide fast transactions and fiat currency support but also come with risks, such as potential hacking attacks, platform bankruptcy, or regulatory restrictions. Popular CEX platforms include Binance, Coinbase, and Kraken.