What is a centralized exchange (CEX)?
Centralized Exchange (CEX) is an exchange managed by one company / organization, every asset you deposit is managed by that company / organization.
In many cases it is much safer to deposit money in the bank than it is for one person to keep his/her own assets. Banks will have many security measures to keep your assets safe and also provide you services such as loans because they have a large sum of money and a reliable relationship with their customers.
In this case, centralized exchanges are similar to banks. You can store your assets on an exchange and trust the third party — the company / organization that manages the exchange in storing and protecting your assets.
#EF1 #EF1Finance #coin #crosschain #pos #defi #staking #swap #yeildfarming #dapp