CEX (Centralized Exchange)
Quick definition
A company-run exchange that holds customer funds and matches trades — the usual on-ramp from regular money to crypto.
A CEX is a business: it runs the order book, custodies customer funds, supports bank deposits and cards, and requires identity verification (KYC). The big global platforms are CEXs.
They offer deep liquidity and support, but holding coins there means counterparty risk — if the exchange fails, your funds are at risk. Compare with DEX.