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CEX - Centralized Exchange
They operate as trustworthy brokers in deals and frequently serve as custodians, keeping and safeguarding your cash.
- 1.User-friendly interface and simple platforms
- 2.An added layer of security and trustworthiness
- 1.Highly vulnerable to hacking or cybersecurity threats
- 2.Charges service fees
- 3.Controlled by a centralized entity, can be shut down which results in your currency being locked