CEX (Centralized Exchange)
CeFi
Custodial trading venue managed by a centralized operator.
A centralized exchange is a company that lets you trade assets it holds for you. It processes deposits and withdrawals, matches orders, and often provides fiat on ramps. It is fast and familiar but adds counterparty and platform risk. Protect your account and avoid storing large balances there long term.
Frequently asked questions
How do CEXs differ from DEXs?
CEXs hold your assets and match orders off chain. DEXs run on smart contracts and let you keep self custody.What fees should I expect?
Trading fees, withdrawal fees, and sometimes deposit or conversion fees. Check the fee schedule before trading.How do I reduce exchange risk?
Enable 2FA, use withdrawal allowlists, and move funds to a self custody wallet when not trading.