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Centralized Exchange

A centralized exchange refers to a type of cryptocurrency exchange where all transactions and activities are controlled and facilitated by a central authority or organization. In this type of exchange, users trade and exchange their cryptocurrencies through the platform provided by the central authority.

Centralized exchanges typically act as intermediaries between buyers and sellers, holding and managing users' funds on their behalf. They provide order books, matching buyers and sellers, and facilitate the settlement of trades. These exchanges often require users to create accounts, complete know-your-customer (KYC) procedures, and follow certain regulations set by the governing authority.

Examples of centralized exchanges include Coinbase, Binance, and Kraken.

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