Centralized Exchange — a traditional cryptocurrency exchange operated by a company that acts as an intermediary between buyers and sellers. Examples include Binance, Coinbase, and Kraken. CEXs typically offer higher liquidity, faster execution, and a more user-friendly experience than decentralized alternatives, but require users to trust the platform with custody of their funds.
Example
“He moved his Bitcoin from the CEX to a hardware wallet after the exchange suffered a security breach.”