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.

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EF1Finance

EF1 is a Defi Platform that allows users to save, loan, borrow and pay Crypto Assets in a global network.