Crypto Exchange (CEX)
Centralized platform for buying, selling, and storing cryptocurrencies.
A crypto exchange (CEX — Centralized Exchange) is a platform that allows users to buy, sell, and store cryptocurrencies. Unlike a DEX, a CEX is a company that holds user funds in custody.
Largest exchanges:
•Binance — largest volume, 350+ coins, margin, futures
•OKX — strong in Asian markets, Web3 wallet
•Coinbase — regulated in the US, easier for beginners
•Kraken — security reputation
How it works: 1. Register + KYC verification 2. Deposit fiat (card/bank transfer) or crypto 3. Buy/sell at market or limit price 4. Exchange holds your cryptocurrencies (you don't control private keys!)
Golden rule: "Not your keys, not your coins" — for long-term storage use your own wallet.