What is a CEX?

A centralized cryptocurrency exchange (CEX) is a platform that allows users to buy and sell cryptocurrencies using fiat currency or other digital assets. These exchanges are called "centralized" because they are operated by a single entity that controls the platform and holds users' assets. CEXs typically offer a wider range of trading options and features compared to decentralized exchanges (DEXs), which are often more basic and focused on providing a platform for peer-to-peer trading. How a CEX works: Users create…