A centralized crypto exchange, or CEX, is a company-operated platform for buying and selling cryptocurrency. Users create accounts, deposit funds, and trade through the exchange interface.
Why people use centralized exchanges
Centralized exchanges are often easier for beginners. They may support bank transfers, customer support, tax documents, mobile apps, and many trading pairs.
Custody matters
If you leave funds on a centralized exchange, the exchange usually controls the private keys. That can be convenient, but it also means you depend on the company security, solvency, and policies.
Some users buy on a CEX and then move long-term holdings to a crypto wallet. Others keep small trading balances on exchanges for convenience.