Centralized and decentralized exchanges explained in three sentences:
A centralized exchange (CEX) holds users’ assets, and trades are matched in the platform’s own order book—not every trade is recorded on-chain.
CEXs generally offer fiat on-ramps and off-ramps, customer support, and account recovery services, but you have to trust the platform’s risk controls and asset management.
If you want convenient deposits and withdrawals and customer support, a CEX may be a better fit; if you want to manage your own private keys and use on-chain apps, you’ll need to learn how to keep your wallet secure.
$BNB 750.73（+1.03%）
How you operate is up to you; this is just a record.
A centralized exchange (CEX) holds users’ assets, and trades are matched in the platform’s own order book—not every trade is recorded on-chain.
CEXs generally offer fiat on-ramps and off-ramps, customer support, and account recovery services, but you have to trust the platform’s risk controls and asset management.
If you want convenient deposits and withdrawals and customer support, a CEX may be a better fit; if you want to manage your own private keys and use on-chain apps, you’ll need to learn how to keep your wallet secure.
$BNB 750.73（+1.03%）
How you operate is up to you; this is just a record.