Centralized Crypto Exchanges

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Centralized Crypto Exchanges Overview

What do we mean by Centralized Crypto Exchanges?

Centralized exchanges (CEXs) are pivotal platforms in the cryptocurrency world, similar to traditional stock exchanges. Big names like Binance, Coinbase, Gemini, and Kraken fall under this category.

These platforms facilitate the buying and selling of cryptocurrencies. They maintain digital order books that record open buy and sell orders, detailing quantities and prices. Through this system, CEXs connect buyers with sellers and establish the current market price of a cryptocurrency.

Moreover, centralized exchanges often offer supplementary services, such as safeguarding users' crypto assets. Typically, users need to transfer their crypto holdings to the exchange's platform before initiating trades.

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