What You Don't Know About Centralized Crypto Exchanges

A centralized cryptocurrency exchange (CEX) operates like any other trading platform, but it's crucial to understand what you're getting yourself into.

When you use a CEX, you trust the company with your account and assets. This convenience comes with risks, so before depositing money or crypto, it's essential to know exactly who holds your funds and where trades settle.

A regulated platform requires identity verification through Know Your Customer (KYC) checks, which may restrict deposits, trading, withdrawals, or payment methods until completed.