CEX - Centralized Exchange
Last updated
Last updated
Centralized exchanges are platforms that allow users to buy and sell cryptocurrencies for fiat currencies such as the US dollar or digital assets like BTC or the Cornucopias token.
They operate as trustworthy brokers in deals and frequently serve as custodians, keeping and safeguarding your cash.
The can be found on the following Ethereum CEX:
User-friendly interface and simple platforms
An added layer of security and trustworthiness
Vulnerable to hacking or cybersecurity threats
Charges service fees
Controlled by a centralized entity, can be shut down which results in your currency being locked