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What is CEX (Centralized Exchange)?
A CEX is a crypto exchange operated by a company that holds user funds and processes trades. The large Indian and global platforms are centralized exchanges.
Full Explanation
A Centralized Exchange (CEX) is a crypto trading platform operated by a company that acts as an intermediary. Users deposit funds into the exchange's custody, and the exchange matches buy/sell orders using an order book. CEX advantages: user-friendly, high liquidity, fiat on-ramps (INR via UPI), customer support, regulated. Disadvantages: custody risk ("not your keys, not your crypto"), requires KYC, can be hacked. In India, all legal exchanges are CEXs registered with FIU-IND.
Example
Indian CEXs offer UPI deposits, wide coin lists and FIU registration. They custody your crypto: convenient, but it means trusting the platform.