Centralised Exchanges (CEX) Explained
Where most newcomers buy their first crypto, and how it works.
What you’ll learn
- •A centralised exchange (CEX) is a company-run platform for buying, selling, and trading crypto, similar to an online broker.
- •CEXs are custodial — the exchange holds the private keys while your funds sit on the platform.
- •Ease of use, fiat deposits, and customer support make CEXs the typical starting point for newcomers.
- •Using a CEX means trusting the company's security against hacks and its solvency against mismanagement.
- •'Not your keys, not your coins' — withdraw significant, long-term holdings to a wallet you control.
- •Check regulation, proof-of-reserves, and track record before trusting an exchange with your money.
Full lesson and quiz for subscribers.
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