Centralized exchange
A trading platform run by an organization that manages accounts, orders and exchange services.
In more detail
A CEX usually provides an account interface for deposits, trading and withdrawals. Many also custody deposited assets, so trading balances sit within the operator's system rather than giving each customer direct signing control. The operator's security, solvency and withdrawal policies become part of the user's access to those funds.
How you might use it
You trade BTC inside an exchange account; the balance updates in the platform's system while the operator handles custody.
- Short name
- CEX
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