CEX - Centralized Exchange
Centralized exchanges are platforms that allow users to buy and sell cryptocurrencies for fiat currencies such as the US dollar or digital assets like BTC or the Cornucopias $COPI token.
They operate as trustworthy brokers in deals and frequently serve as custodians, keeping and safeguarding your funds.
$COPI Token on Ethereum CEX
Pros of Centralized Exchange
- User-friendly interface and simple platforms
- An added layer of security and trustworthiness
Cons of Centralized Exchange
- Vulnerable to hacking or cybersecurity threats
- Charges service fees
- Controlled by a centralized entity - can be shut down, which results in your currency being locked