Basics of Trading and Finance (Part 08) : Features and Examples of CEX
Intro
Intro
In the first part of my tutorial series in these 5 slaps I discussed centralized exchange & decentralized exchange and the basic idea behind those exchanges. In my previous post I have shared the key features and benefits of the centralized exchanges. In this tutorial series I would like to share the basic information sequentially so that a newbie can get a better idea about trading and get himself/herself prepared for trading, especially crypto trading. So today let's talk about some traditional features of centralized exchanges along with some examples of those exchanges.
Centralized exchanges are online platforms where the individuals can sell, buy, trade various cryptocurrencies. They play as intermediaries and connect the buyers and sellers through the platform. This exchange involves working as a settlement or middle body. So they are centrally owned by any company or individual that is the key feature of CEX.
Some features of centralized exchanges
• The interface of centralized exchanges are very much user friendly because we are very much known to those exchanges as they are in front of us as traditional exchanges all the time. Operation and interface is so simple and easy to use.
• Multi Factor authentication and several security systems have been employed in many of the centralized exchanges. They offer authentication, encryption, cold storage, hardware wallet, support ticket etc to protect users digital assets.
• In many of the cases, centralized exchanges are regulated by the government except some special cages in several countries. So all the activities are controlled by regulations here by the regulatory body of the government.
• The payment method is very much convenient as it is a traditional option where bank transfer, credit card and many other payment options are available.
• As there are many of the available exchange sites in front of us. They offer a wide variety of digital assets in their exchange sites to trade.
Some common examples of traditional exchanges:
Binance
Coinbase
Kraken
Bitstamp
Poloniex
etc
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Thank you very much for this important information on trading and finance.
You have explained the features of a centralized exchange and you have given us good examples.
Thank you very much again 😊👍
"Basics of Trading and Finance (Part 08) " is a informative post. I read and try to understand the before post. Also present post I read also.