CEX stands for centralized Exchange in the context of cryptocurrency. It refer tona digital platform where user can buy, sell and trade various cryptocurrency typically using traditional fiat currency like the UD dollar or Euro.
Cex are Centralized because they operate under the control and management of centeral authority or organization which facilitates the transaction and maintain the order book, These exchange intermediaries matching buy and sell order from user and executing the trade on their behalf. Cex are known for their user-friendly interface, high liquidity, and support for a wide range of cryptocurrency. However, they also required user to trust the exchange with their funds and personal information, as they controland security of their assets lie in the centralized authority.
Role of Binance as Centralized Exchange:
Binance is the most popular Centralized Exchange in the industry of crypto. Binance play a vital role in facilitating the trading of Cryptocurrency for its users.
Binance provide a user-friendly platform that allow users to buy sell and trade a wide range of Cryptocurrency. It offer various trading pair, enabling user to exchange cryptocurrency against each other or against Fiat currency.
Binance was the first exchange to introduce a p2p trading feature, thus feature allow user to directly trade Cryptocurrency with each other using their local fiat currency. Binance act as intermediary, facilitate the matching buy and sell order and providing escrow service to ensure secure transaction, Binance and other Centralized Exchange aim to offer more flexibility in their trading options while maintaining the benefits of a centralized platform. Such as liquidatity, security and user-friendly interface.
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