← Glossary
CEX
A centralized exchange run by a company that holds your crypto for you.
A CEX (Centralized Exchange) is a company-run platform — like a brokerage — where you create an account and the company custodies your crypto. They're beginner-friendly and easy to use.
The catch is the old crypto saying: "not your keys, not your coins." If the exchange is hacked or fails, your funds can be at risk. Many people move long-term holdings off exchanges into their own wallets.